By Hernandez at September 14 2019 05:46:21
Creating a Plan For Your Business _ Writing a plan is the first stage of business planning. As the name suggests, a business plan is a roadmap for the direction of your company. While many owners fail to write such a plan, it is an essential step in the growth of your company. It helps you to forecast and problems that may develop in the course of business. Think of it as a contingency plan. If you are planning to apply for commercial real estate or bank loans, you will need to demonstrate proper planning for your business.
Just as there are many types of entrepreneurs and business ideas there are many kinds of business plans. Here are three that deserve some special attention. The "Accidental Entrepreneur" Plan: Believe it or not, it happens quite often. An impulse, a hobby, or a passing notion turns into a business without warning. One day you're handing your extra back_yard tomatoes or homemade cake to the neighbors, and before you know it you're filling out the forms for a booth at the local farmer's market. Perhaps you create a unique bit of hand_crafted jewelry and wear it to school or work, and then find your phone flooded with messages like, "Where can I get one?" and "I'll pay you to make one for me."