When I coach women who are starting their own businesses, I like to keep it simple–and focused. Because I know from my own entrepreneurial experience that complexity gets overwhelming, and counterproductive.
I like this “one-page business plan” from the October issue of Entrepreneur magazine:
- First, succinctly describe your business concept and your target customers. Next, address the following questions:
- What is going on in the market or your industry that has created the need for this product or service?
- How will you be paid, and how much?
- What are you doing to dominate the market?
- Do you need money? How much?
- How will you use those funds to advance your business concept in the next six to 12 months?
The most important one? Three! How will you be paid, and how much? Caution: Don’t discount your time, or your talent.
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Photo by Yodel Anecdotal