Many believe when starting an online business a business plan is optional. This isn’t true; if continued without a solid plan this could lead to a path of destruction.
Many think since they are the boss why a business plan ; “I am working for myself so why would I bother”? Would you go on a trip or get married without a plan? Plans are necessary with everything we do. Business plans will help you get started and keep you focused. While developing a business plan this will give you an opportunity to think through all aspects of your business and will guide you too success.
Expensive software is need in order to establish a solid business plan . Of course software could help but is not necessary.
The only way to get started is by hiring a consultant to develop a business plan . Everyone should have a theme and/or strategy in mind before getting started ; or an idea of how the business should run. If not, all the consultants in the world won’t help. Find a coach or mentor to guide you through the process instead of hiring a consultant to do things for you. This would be more profitable and help with the learning process.
Many think an online business can’t be started until everything is set up perfect. If you wait until everything is perfect you may never get started. Fix it as you go. Just make sure the major points are as good as they can be and you have established a solid budget within the plan.
Once a business plan is developed it must be followed exactly or the business will fail. Sometimes detours or changes can be profitable to your long term plan. Don’t sweat the small stuff.
A business plan must be typed and professional with a minimum number of pages. There are no requirements on the number of pages; it can simply be an outline with solid goals. It can even be written on a wall as long as it can be understand and accessed when needed.
The only reason a business plan is needed is if a loan I being obtained. With or without a loan an investment is still required; either from savings or a family member. Wouldn’t it make sense to have a solid direction established for the business before making any investment? Again make sure the business plan includes a solid budget.
A business plan doesn’t need to be in writing. Like mentioned above it can be written on a wall but you will need it written down. Many think that as long as they have something in mind they can move forward. Honesty will you remember it or follow it?
All advice must comes from friends and family to have a successful business. Think about this; could a city slicker tell a farmer how to run a farm? Friends and family maybe great advisers if they are currently running a successful business. Keep in mind your business many be completely different making the advice they are giving meaningless. Advice can come from whomever. Remember that it is advice!
The bottom line; is it is very important to have a plan with a solid budget prior to start an online business . Once you have established the plan remember you can make modifications as your business grows. Never turn down advice, keep an open mind something that may seem trivial may come in useful down the road.