How To Write A Startup Business Plan and Why you Need a Business Plan
Why do you need to write a business plan?
There are a number of reasons why you need a startup business plan.
Writing a business plan dramatically increases your chances of success as an entrepreneur.
Here are just a few reasons why you would want to write a business plan.
1. Evaluating initial startup costs.
2. Determining what it will take to make a profit.
3. Analyzing your competition and it’s success and failures (which you can capitalize on)
4. Well defined rolls of all people involved in the company.
5. Investigating your market and developing a strategy.
6. Anticipating problems before they occur.
7. Defining a clear goal and exit strategy for your business.
8. Convincing investors to fund your business
Some may scoff at all of the parts of a business plan, but remember that you are undertaking this endeavor to make money, not to just produce a product or service.