How to Write a Great Business Plan

So you have decided to quit flipping burgers and start a home business? Many young people are going this route to make money to put themselves through school. But just because you are young does not mean that you do not have to play by the rules. You may have a great product and a proven plan for advertising, but you are going to need a business plan as well.

What is a business plan? According to the Small Business Administration a business plan is a “written document that outlines measures and actions to define where you want to go and how you will get there.” Basically, a business plan is a plan for where your business is headed and what steps you are going to take to achieve that goal. A business plan helps to eliminate some of the uncertainty involved in starting your own business.

Here are some things to include in your business plan:

· Who will your customers be?
· What is your product?
· What need does your product fill?
· How are you going to get your product to your customers?
· How are you going to pay your start-up costs?
· When are you going to work your business?

Your business plan should start with an introduction. The introduction should give a description of the business and state what your goals are. Also, the introduction should include the ownership of the business, the skills you bring to your business, and what sets your business apart from your competitors.

Once you have set down the ideas for your introduction, it is time to discuss your marketing. First, discuss the product or service you are going to offer. Then you need to state why there is a demand for your product. After that, discuss some of the details of your target market. Make sure you set down ideas for advertising your market. Explain what your product or service is going to cost.