Business Planning Basics

 Business Planning Basics

So let's start with the basics of business planning.



The assumption of business planning is that you want your small business to be successful. So the first question is, "What do you want?"


To answer this, you have to have decided how you're going to measure your success. For instance, do you want your small business to:


Make x amount of revenue?

Become the market leader in its marketing segment?

Bring in enough money that your family can live off it?

Bring a process or product you've created to market?

Make you personally a well-known name?

Become a well-known franchise?

These are just a few examples of what a successful small business may mean to you. Notice how money may or may not figure prominently in your interpretation of success.

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