Let’s talk business plan.
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Today we delve into the mesmerizing world of the business plan. A plan which most of us never give a second thought to, that is until, while perhaps sitting around an open fire in your back garden you get that sudden flash of inspiration that leads you to make that decision to go off on your own and start up that business you have always longed for.
Yes, starting up on your own can be both scary and time-consuming; however, it can be one of the most courageous things you will ever do in your lifetime. Yes! No one can describe the feeling of satisfaction and self-admiration you can have if you spend just a little time setting up your business template. A template that will steer you through the ever-changing world of an online retailer or online shopping center owner.
What is a business plan? A business plan is a document you have composed to guide you through the many pitfalls of online selling, rather like a website template that you can change whenever financial markets fluctuate.
This document, quite frankly, will be one of, if not the most important, paper you will ever write, so great care must be taken when building it. Make a mistake here, and you will not succeed, no ifs or buts about it.
So what is in a modern-day business plan? First up, you must determine what sort of business you are planning. Then, armed with this information go online and find one of the hundreds of marketplace companies that specialize in analyzing current marketplace projections, basically a company that has the tools to project “market Trends,” “future stock values,” and of course can potentially segment clients into different categories, “age,” “where they live,” “interests,” and “sex,” to mention a few.
Authors note: To find companies of this type, type “marketplace projection companies,” into your browser, be careful because some are not legit, and some will also cost you a lot of money, basically if anyone ever asks for money on the internet chances are that they are bogus, buyer beware.
Next; Work out just what you are going to include in your business plan. I like the old-fashioned way, with a pencil and paper, precisely why I have no idea, however, it seems to work for me.
Just a quick note in regards to the above; Be aware you will be trolling the internet for some time. There is no way around this if you want to find suitable free material on the internet. Yes, I did say free, as once again the information you require is out there on the web, so only pay for these services as a last resort and remember, this is your business plan, so stick at it as it will save you a lot of money down the line.
Once again, to find these companies type into your browser “marketplace projection companies.”
Break your business plan down into manageable elements. I like to use “market analysis,” “your personal business concept“ of your planned business plan, then and finally, your “financial analysis,” not forgetting a great conclusion which is probably the most important of the four as this is the section your bank manager will spend most of his time checking over.
Your Market Analysis: Your marketing analysis is your first chance to tell the masses once again, including that friendly man at the bank, just where you are planning to operate, your potential customer’s demographics, “age, etc.,” their possible preferences, buying requirements and behaviors, also and most importantly, do not forget to include your competition when researching.
Your business concept: Your business concept is much easier to handle. However, it should not be looked at lightly. This segment is all about your online business description. This is what your future clients will see immediately, so be creative and not be afraid to show off a bit. Get this section right, and you are halfway there. This second segment also gives you a further chance to explain both your market potential and, of course, your products which you hope you will be selling online quite soon.
Your financial analysis is not to be confused with Your Market Analysis: If this is the first time you have created a business plan then this is the place to proudly show your balance sheet, which hopefully indicates you are raking in millions, you should also include any projected cash flows and of course that dreaded capital expenditure.
Conclusion: This is the segment where you will inform your bank manager when you hope to break even, something he or she will want to know if he or she will support you by giving you massive amounts of money.
Well, folks, we have come to the end of this short narrative. If you are reading this, chances are you will branch out on your own so let me be the first to wish you all success and, of course, be happy in your work.
So on behalf of the Vandergraph family, and all its employees at Bargainbrute.com, together we thank you for shopping with us.
You all take care, and I will see you all tomorrow at America’s favorite place to shop online, BargainBrute.com.