Starting up a new business is not an easy task. It takes courage and hard work to succeed and hang in there through those challenging first years.
In keeping with our motto – “Helping Businesses Thrive” – we’d like to offer some tips over the course of this month specifically for start-up companies.
Plan To Succeed
One of the most important factors in the success of any endeavor is planning. “Fail to plan, plan to fail” is a common quote because it’s a simple truth.
Surprises happen, but the fewer the better. You need to know what it’s going to take to succeed. As a brand new business owner, it is vital to be prepared for the requirements of setting up your company – from office supply needs, to inventory, and everything in between. You need a realistic, workable plan. This forethought and planning can uncover something that you had not thought of before.
Your Business Blueprint
A good business plan is like a blueprint. You will want to create one as you start your business.
You “business blueprint” is “living” and changeable. It’s best to revisit it regularly. Re-evaluate each point of your plan and make necessary adjustments. There is comfort in this. If something isn’t working according to plan, you are not tied to it.
Focus & Financing
As your business evolves, it’s easy to become distracted or to lose focus. It’s easy to get spread too thin, especially in the beginning. Your business plan (which should evolve along with your business) reminds you of your goals or “core competencies” and helps you to stay on track.
A business plan is a valuable and often necessary document when it comes to financing. It tells the reader (lender, investor, etc.) that you understand the potential, the operations, and the risks associated with your business. Your business plan should be simple and easy to follow, but also thorough and presented with a convincing confidence.
Help Is Available
In the excitement of starting a business, it’s tempting to overlook – or even avoid – creating a business plan. After all, not everyone is good at writing things down. Sometimes you just don’t know where to start.
We have collected a couple of business plan outlines for you to use as a guideline, or just to give you an idea of how a business plan can look or be set up. With our years of experience and vast network, we may also be able to put you in touch with other helpful resources and connections for starting up your business.
Feel free to contact us and we will be happy to assist.
We want you to succeed!!