"Creating A Business Plan Your Road Map To Success"

It does not matter if you are joining an affiliate program, starting an Internet business or starting an off-line
business. You must have a business plan to start you on the road to success.

What is a Business Plan?

A business plan is road map for conceiving and operating your business. It is having the directions to somewhere you want to go, and how you are going to get there. Without a business plan, there is a danger to get sidetracked by your own ideas, others thoughts, and even the competition. A business plan makes your goals concrete, and helps you meet your goals. "Plan your work and work your plan!"

A business plan is a realistic view of the expectations, and the short and long term objectives for your business. It provides the framework that will help you success or fail.

Why Create a Business Plan?

Without a business plan, there is a danger to get sidetracked by your own ideas, others thoughts, and even the competition. A business plan makes your goals concrete, and helps you meet your goals. As the saying goes, "The plan will not fail you; you fail the plan!"

A well-prepared business plan is dynamic. It changes as your venture unfolds; at the same time, it provides a baseline from which to chart your direction. A carefully prepared business plan outlines each step to success. Without a business plan, there is a possibility of failure. A good business plan is also, an invaluable stepping stone for the next stage of growing your business.

The planning process forces you to clearly know what you want to achieve, how and when you need to do it. A business plan can play a vital role in helping to avoid mistakes or recognize hidden opportunities. The process of planning (thinking, discussing, researching and analyzing) is just as, or even more, useful than the final plan. Even if you don't need a formal plan, think carefully about going through the planning process. It could mean success or failure for your business.

Types of Business Plans

There are two types of business plans: comprehensive (strategic) and basic.

The comprehensive or strategic plan is a detailed plan used to raise venture capital/equity and bank loans.

The basic plan is used to assess the viability of businesses and for personal use. Generally, bank loans are not required. This is normally, a home business using little or no initial investment.

Business Plan Format

Keep your business plan simple, but write it clear and oncise. Include just enough information to prompt you into taking immediate action. Avoid becoming overwhelmed with too much planning, keep it simple.

Do not make your business plan too long, wordy, and confusing. If you do not keep it simple, you will not follow it, just as you would not follow a confusing road map.

Sample Business Plan Format

1. Vision
- What will your business look like in three to
five years?
2. Mission - Purpose
- Growth
- Promote to the masses
- Amusement
- Have fun, enjoy what you are doing.
- Maintain networking
- Join chat rooms
- Join discussion boards
- Education
- Learn all you can about operating your business
- Learn all you can that will add value to your business
- Know your product(s)
3. Objectives
- Think in terms of the results you need or want to achieve in the short to long term.
- The expectations and requirements reflecting the underlying reasons for operating your business.
4. Value
- The operation of the business and your conduct or relationships with customers and society.
- Gaining your customers trust.
5. Strategies
- The rules and guidelines which the mission, objectives, etc. are achieved.
6. Goals
- Specific time-based measurements that are achieved by implementing strategies to reach your business'
objectives.
Example: I will earn $1,000 by June 30, 2003.
- Goals are the what, why and how.
- What- specific (be), measurable (have), and timebound (do)
- Specific - as soon as possible, in a short period of time
- Measurable - when?
- Timebound - timeframe - faciliates actions
- How
- What goal?
- Identify 3 Ys
- Why do you need (this)? Replace this with a specific
name or objective.
- Why do you want (this)? Replace this with your goal.
- Why do you want to reach this goal?
"Goals never fail me, I fail them!"
- Marketing Plan-Next issue
- The marketing plan or strategies used to promote your business.
- Finances
- How much money do you need to operate your business?
- What is your project yearly income?

I know, writing a business plan seems complicated, but once you see the completed plan, then you will understand why planning is so important. Planning will help you STOP using techniques that may or may not work. Planning will start you using techniques that are guaranteed to work!

There are business planning software packages available to help you write your business plan. I have listed two. I am sure there are more, but these are the two I know people have used successfully.

PlanWare-Freeware
http://planware.org/bizplan.htm

Bplans.com
http://www.bplans.com/

The business plan is very important to obtaining your goal of earning wealth. Success is every business owner's goal, but you need to outline how, when, and where you will achieve these objectives.

You can operate a successful business if you plan your business strategies, have determination, and perseverance.

The key element to obtaining success; do not quit. Quitters never succeed. Success spells YOU. You are the only one that will steer your business on the road to success.

If you have any comments or questions, please contact me.

Success is at your fingertips, just close your hand around it.

About the author.

Noreen Thomas
SFI MIQ Affiliate

gettingrich@gettingrichmarketplace.com
http://www.gettingrichmarketplace.com