6. First step is to put together
a business plan. This is a plan for the future
and the preparation will help you focus on just
what you need to do to start the business and
where you want to go with this venture.
7.Preparing a business plan
has many advantages, not least that you will
have to think carefully about every aspect of
the business. The steps taken in this process
will maximize your chance of success if taken
seriously.
8. A business Plan should
include the following key topics: -
Ø Executive Summary
Ø Index
Ø The Product or service
Ø The market
Ø Pricing strategy
Ø Business Structure
Ø Premises and location
Ø Management & CV’s
Ø Financial Information
o Cash Flow
o Profit Forecasts
o Capital requirements
o Assumptions underlying the plan
9. There are plenty of support available in
the preparation of a business plan.
10. These include asking your
own bank for a business plan pack. This will
normally include a computer disc, which asks
you questions about your business. This will
cover the key topics above and from your answers
produce a plan.
11. Information packs
or support is also available from Accountants
Solicitors and Business Links.<<
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