Proposing A Business Plan
Think of it as a written elevator pitch (with more detail, of course).
Your Summary describes the highlights of your plan, includes only the most critical points, and leaves out less important issues and factors.
For many entrepreneurs, developing a business plan is the first step in the process of deciding whether to actually start a business.
Determining if an idea fails on paper can help a prospective founder avoid wasting time and money on a business with no realistic hope of success.
Most great businesses can be described in several sentences, not several pages.
Instead, see your plan as a no-cost way to explore the viability of your potential business and avoid costly mistakes. If your Summary cannot clearly describe, in one or two pages, how your business will solve a particular problem and make a profit, then it's very possible the opportunity does not exist--or your plan to take advantage of a genuine opportunity is not well developed.So a solid business plan should be a blueprint for a successful business.It should flesh out strategic plans, develop marketing and sales plans, create the foundation for smooth operations, and maybe--just maybe--convince a lender or investor to jump on board.Even though you may be creating a business plan solely for your own purposes, at some point you may decide to seek financing or to bring on other investors, so make sure your Summary meets their needs as well.Work hard to set the stage for the rest of the plan.Does a business plan make startup success inevitable? But great planning often means the difference between success and failure.Where your entrepreneurial dreams are concerned, you should do everything possible to set the stage for success. That's because many aspiring entrepreneurs see a business plan as simply a tool--filled with strategies and projections and hyperbole--that will convince lenders or investors the business makes sense.Let your excitement for your idea and your business shine through.Blue Mountain Cycle Rentals will offer road and mountain bike rentals in a strategic location directly adjacent to an entrance to the George Washington National Forest.A joint venture is a formal agreement to share the work--and share the revenue and profit.As a new company, you will likely be an unknown quantity in your market.