Every business stars as a dream. Maybe you have an idea for a totally new product, or see a way to make a current business better. Millions of people have dreams, but only a few get them from dream to reality. Where do you start? Research. Learn everything you can about what’s on the market now, who does it, how much does it cost. You will need to make a business plan. Failing to plan, is planning to fail. Do not worry, you don’t need a college degree or loads of money. Your local library should have books and other materials to help. There are also lots of reputable financial institutions with small business loans you might qualify for. Unless you were born with a silver spoon you will need the help of others to get your business off the ground. Start with a feasibility plan. A good feasibility plan will help you answer the question, should I pursue this business concept?
Start with a cover letter. The cover letter will introduce you and your business to the reader. It should tell the reader, who you are and what is your role in the business. What special talents do you have to be successful in this business.
The next page is the title page. The title page will introduce you and your business. It will help connect you to the reader. Include your name, the name of your business, what is your business motto. Be sure how the reader can get in touch with you, and how long the plan is valid. Will this plan change, are you on a deadline?
A table of contents will help the reader find specific information. After making your plan, simply make a list of subject heading and sub-headings.
An executive summary is written so that anyone asked to review your feasibility plan an get the key points quickly without reading the entire document. The executive summary should be brief and concise. It is an overview of the key ideas of each section of the plan. Include information such as what your business concept is. Tell them why your business is unique. Mention the projected cash flow and profitability of your business.
Tell the reader the purpose of your product, and what need or service it meets. What are the limitations you face, government regulations, insurance, weather, perishability, or fashion obsolescence? Be sure you have the proprietary rights over this product or service. Do you have a means of distribution organized? Is there a customer perceived need for your product, or will you have to create one?