Your First Business Plan

Your First Business Plan-60
Surprisingly, Cerulo and Mazur still recommend starting with a business plan.

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“With my friendship-bracelet business, I actually wrote out how many spools of thread I’d need, who would sell the bracelets, and how my older (cooler) brother would act as the celeb spokesperson,” she said.In this section of the business plan, you need to distinguish your business from the competition, persuading the reader(s) of your plan that your business will be able to compete successfully.A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service's benefits.If you work through each section of this outline, in the end you'll have a complete, well thought out business plan that you'll be able to submit to a financial institution in order to request a loan or to potential investors for equity financing in your business.While appearing first, this section is written last.It summarizes the key elements of the entire business plan and is the first thing anyone looking at your business plan reads so it's critical that your executive summary is outstanding.(Reading this Executive Summary Example will give you a sense of how to put yours together.) An overview of the industry sector that your business will be a part of, including industry trends, major players in the industry, and estimated industry sales.But their idea — that something like the slow-food movement would also hit fashion — was spot-on.Six years later, after introducing the world to 350 independent American designers and being acquired by Bed Bath & Beyond, friends often turn to the pair for business advice. You might want to read this before ordering 500 business cards. Kathryn Finney wrote her first business plan in fourth grade. In lieu of reading 18 articles and those unhelpful Forbes Quotes of the Day, we’ve asked real women (experts and business owners) to talk you through the process.


Comments Your First Business Plan

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