Tag: BUSINESS PLAN

No Matter What, Write a Business Plan

  The new year is here.  Many aspiring entrepreneurs are planning to start a business in 2018.  Some would like a brick-and-mortar business while others would prefer an online business.  More and more would-be businessmen are considering e-commerce particularly the dropshipping kind. There is nothing like having your own business.  The challenge, excitement, risk-taking, and…

Don’t Start That Business Yet

Not until you have a clear business concept. What is a business concept? It is an idea for a business. It can be an idea for an entirely new product or service of a startup business or it can be an improvement or expansion of an existing business.  Whatever your business concept is, it should…

What Investors Are Looking For In A Startup

I often come across some would-be entrepreneurs who request that a business plan be prepared with accompanying pitch deck for prospective investors.  Preparing a business plan with this intended purpose can be extraordinarily challenging when a client-proponent had only an idea and a few research notes about the startup.  It will be difficult for them…

Why Write A Business Plan

Entrepreneurs who wrote business plans performed a lot better than many of those who did not. Why?  Putting your business ideas on paper and being able to review and improve it subsequently, a more structured and organized way of starting your business, inviting investors, and securing funding are just a few of the compelling reasons…

Small Business: How Important is Market Research?

You had what you believed then as a “winner” product or business idea.  You were capable and willing to invest money, time, and effort to launch your small business. Fully convinced of what you had then,  you started your business. After six months, sales were still low and actually not growing. You eventually realized based…

WHAT YOU HAVE TO KNOW ABOUT BUSINESS PLANS

  YOUR BUSINESS PLAN Last week, I mentioned in the SMALL BUSINESS BOARD page that you have to create a business plan before doing anything else.  You have to be very clear about the characteristics or attributes of your product, service, or idea – what its unique features are.  Who will be your customers, your…