Self-Improvement Ideas for Budding Entrepreneurs: Training Tip #3: Write a Business Plan
Are you looking for self-improvement ideas to help you better manage your life, relationships, and personal finances? Did you know that you can take back control of your life by starting your own home business? Learn how writing a business plan can put you on the path to success.
Watch with me how starting a business can help you with your self-improvement goals. Becoming an entrepreneur allows you to:
- Improve your self-esteem by regaining control of your life.
- Repair your relationships by having the freedom to spend more time with your loved ones.
- Achieve financial freedom by increasing your wealth.
Let us begin!
I’d like to welcome the third of five training advice articles in the series: “Self-Improvement Ideas for Budding Entrepreneurs.” The entire series contains five training tip articles. Make sure you don’t miss a single issue by checking back here for the next issue.
Now, let’s move on to today’s lesson: Training Tip #3: Writing a Business Plan
Today, let’s discuss how to write a business plan for your home-based business. Let me start by saying that the goal of starting a home business is to reduce your startup costs. Therefore, we will not address the need for bank loans, as we examine the three simple steps to learning how to write a startup business plan.
Step 1 – Get started with a free online course.
Learn the components of successful business planning by taking advantage of a free online course. Keep in mind that a business plan should include your marketing plan, financing plan, and operating plan. Everything you need to start, run, and grow a successful business should be clearly spelled out in your plan. It’s like the skeletal structure of your new baby business.
Learn everything you need to know by taking a free SBA business plan writing course at: http://web.sba.gov/sbtn/registration/index.cfm?CourseId=27.
Step 2: Develop a financing strategy.
Writing a business plan will help you determine how much startup money you will need to start your home business. Once you’ve researched how much money you’ll need to get started, how will you raise the money? My answer is boot. Bootstrapping allows you to start a business without borrowing from banks, family and friends, or racking up credit card debt. We will discuss this in more detail later.
Step 3 – Write your plan.
Now is the time to put on paper everything you have learned in the free course. This will include your marketing plan and financing strategy. A startup plan doesn’t need to be fancy. You can write it on notebook paper and keep it in a pocket folder, or get formal and design it using a free template. The choice is up to you, but make sure you do what you are most comfortable with. Don’t waste a lot of time on how it looks. If it’s anything like mine, it’s pretty simple. I have my business plan started in a three ring binder.
Change your life!
The journey towards self-improvement always begins with a first step. As a budding entrepreneur, keep looking for self-improvement ideas to help you further your education. You can learn a lot from countless people who have persevered and successfully walked this path before you.
Even if you have little money, bad credit or don’t own a home, you can find the money you need to start your business TODAY.
For more information on start-up financing, request a free copy of “The Bootstrapper Startup Business Planner”, visiting my website.
©2009 Kimberly Kelly – All rights reserved worldwide.
Permission to reprint this article is granted strictly on the condition that it be reproduced in its entirety, with all live links and author bio intact.
