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Of course, we all think we are irreplaceable, whether we run a business or not. In situations where you are the only employee of your business, however, you tend to feel like the business could not run without you. | | No comments for this item |
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Once you have thoroughly described your product or service, it is time to evaluate who your customer is. This is called the Market Analysis part of your business plan, not to be confused with the marketing plan. Whatever you are selling, there are groups of people that are much more likely to buy your product than others. You will want to spend your time selling to them, and spend your marketing dollars wisely. | | No comments for this item |
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Sounds simple enough, right? The next section of the business plan is your Product Description. Your task is to write persuasively and concisely to convince your reader that your product or service is worth buying. This is not the marketing plan; you will get to the marketing details later. For right now, just focus on the product or service itself. | | No comments for this item |
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Who Are You and Why Are You in Business? |
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The title of this entry is the first major component of your business plan, usually called the Company Description. Depending on what you are trying to accomplish with the plan and when you went into business, this section will vary. At its core, though, the same information is still needed. | | No comments for this item |
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Components of a Business Plan |
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Now that you have everything set up, its time to do the detailed planning that I talked about. Don’t just sit there and plan for the next six months! You should be out there selling during the day and planning the business at night (or vice versa if you business is a night club). | | No comments for this item |
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