While having a powerful idea is often the first step towards launching a new business or venture, forging a business plan is a critical component of making that idea a reality! Before you start a new business, or attempt to sell it to anyone, you must first put organize your thoughts and chart your course of action via a solid business plan!
Washington State University created a helpful infographic that details 10 guidelines to help prospective entrepreneurs organize their thoughts and wow potential investors.
The infographic begins by outlining some major questions aspiring business owners and CEOS need to ask – What problem is my business going to solve? What’s my company’s mission? What do we do better than anyone else in the market? But that’s just the beginning!
A thorough business plan also includes who your target demographic is, the conditions of the market you’re entering into, and accounts for worst-case scenarios. And of course, there’s the money – including seed money, funding, and small business loans.
As evidenced by this infographic, a solid business plan not only serves as the cornerstone of your business but also the roadmap to your business’ success. And they’re not just for start-ups! Established businesses can also benefit from revisiting their business plans and making adjustments at 1, 3, and 5 year intervals.
Please take a look at the infographic below and contact us should you have any questions. CMarie Consulting is here to help you with all of your business planning and marketing needs!
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