Black Owned Business Network


Where is your Business Plan?

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So you have that great idea.  The idea that's going to turn you into the next Bill Gates or Mark Zuckerberg.  Your going to be the next billionaire.  But wait, how will you finance this big idea?

So you want an investor, a business loan, just a few thousand dollars.  You contact everyone you can attempting to solicit support to fund your BIG idea.  Everyone you contact seems to ask you the same question, Can I see your Business Plan?

Uh Oh.  There is something that you forgot. Business investors, banks, and the people with the money want to know the details of your business. What is your budget?  Who is your competition? Where is the demand for your business?  Who are your potential customers? How much do you have to invest in your business? HOW WILL YOU MAKE MONEY?  WHEN WILL YOU TURN A PROFIT? 

Think about it.  How do you know how much money you need if you have not created a budget or researched how much your inventory, supplies, building lease, website design will cost?

If you want your business to be successful.  Start working on your business plan today.

Did you create a business plan before going into business?

Read 6089 times Last modified on Tuesday, 04 December 2012 15:32

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