Are you preparing to start your own business but uncertain about how to get started? A business plan ought to be one of the first steps in your entrepreneurial journey because it will organize the ideas that have been spinning around in your brain and prepare you to seek funding, partners and more. It helps define expected profits and challenges, providing a road map that will help you avoid bumps in the road. Writing out your business plan forces you to review everything at once: your value proposition, marketing assumptions, operations plan, financial plan and staffing plan. Once laid out, the targets become performance goals. The business plan can help your company attract talent and funding, because when prospects ask about your business, you already have an articulated overview to offer them.
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The following business plan for the fictional firm of "Acme Management Technology" AMT is an example of what a completed business plan might look like. This example is provided as part of the instructions and detailed descriptions included in the Components of a Business Plan. This business plan leads the way by renewing our vision and strategic focus of adding value to our target market segments—the small business and high-end home office users in our local market. It also provides a step-by-step plan for improving our sales, gross margin, and profitability. AMT is built on the assumption that the management of information technology for business is like legal advice, accounting, graphic arts, and other bodies of knowledge, in that it is not inherently a do-it-yourself prospect. Smart business people who aren't computer hobbyists need to find quality vendors of reliable hardware, software, service, and support and they need to use these quality vendors as they use their other professional service suppliers—as trusted allies. AMT is such a vendor.
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A simple business plan is the secret to starting a business successfully. The easiest way to simplify the work of writing a business plan is to start with a business plan template. Instead, to help build a complete and effective plan, lean on time-tested structures created by entrepreneurs and startups who have come before you.
Starting up a new business takes some things — initiative, idea, capital, and a good business plan. Sometimes it is easier to find and gather the first three than to make a good business plan. A business plan should be a foundation to every business endeavor and a solid business plan has to be written correctly for you to follow it through.