| For some reason, it seems that some people who | | | | Step 2, if the idea is feasible, then I can expand it into a |
| would like to start an Internet business from home do | | | | more detailed informative breakdown. If it is not |
| not think a business plan is needed. I don't know | | | | feasible at this time, I can put it aside and go on to |
| exactly where this idea comes from, I guess it's the | | | | something else that might be more attainable. But if it is |
| "lone and now" feeling of the instant Internet business | | | | worth pursuing, I need to know what I will need to do |
| expectancy. | | | | on a daily, weekly, monthly basis to reach the goal. |
| But whether it be an ONline business or OFFline, one | | | | Step 3 is the next phase of the feasibility process |
| does need to plan before plunging into the commitment | | | | which deciphers what I now know into some |
| of starting a business, especially when 70% of | | | | marketing figures which will be needed to reach the |
| businesses do not make it. It is not funny to start a | | | | projected sales. All this you can see before you on |
| business only to lose money, and sometimes even | | | | paper. Just like a road map. You can work various |
| lose everything! | | | | scenarios until you are satisfied that it makes sense. |
| Another reason for avoiding the business plan, is that | | | | Figures do not lie and pleasantly keep you on the |
| most folks are scared by the prospect of such a | | | | straight and narrow. |
| laborious undertaking. We are used to seeing lots of | | | | And you know what? Even if you're not ready to start |
| work sandwiched into big binders that represent | | | | your dream business now, you can work on this and |
| business plans. | | | | have it ready for when you are. Then when you are |
| But we do not need to go to that extreme at the very | | | | ready you can go to the next step. |
| beginning. We need to just satisfy ourselves (before | | | | Step 4 is then the planning phase of Step #3 that will |
| doing a plan to satisfy bankers or investors), in order to | | | | make your dream a reality and give you the tools to |
| see if we feel comfortable starting a business. From | | | | work with as you measure your results day to day. |
| that initial stage we can go to the next step and | | | | One cannot manage something that one cannot |
| expand on a full presentation format. | | | | measure. |
| That is why I put a series of steps that lead us to the | | | | Making a business plan need not be complex and |
| process which I share with you in this article. | | | | difficult if it is done comprehensively one step at a time. |
| Step 1 deals with finding out, first of all, right now, this | | | | It should be -- it has to be -- a fun, simple and exciting |
| instant, if a business idea is feasible. First, how much | | | | experience. And it is only then, when you have a visual, |
| sales do I need in order to pay myself a salary of | | | | physical business plan in front of you, that you should |
| $25,000, $35,000, $50,000, more? What will I need to | | | | begin to work on your vision, knowing where you are |
| sell in order to achieve that. Do I quit my day job? If I | | | | now and where you are going at all times. Nobody can |
| am out of work, do I get a job and build this up | | | | afford to lose money. Getting into business has to be |
| evenings and week-ends? And if so, how long will it | | | | for making money to survive and grow -- both |
| take me. | | | | personally and commercially. |