Now that you’ve decided your branding and the focus of your business, it’s time to create your business plan.  A lot of small business owners, especially online business owners, don’t bother to create a business plan.  I know I didn’t create plans for my various projects and I quickly got stuck in a few ruts because of it.  Without written focus or goals it was easy to get overwhelmed with my projects and not want to do them.  Creating business plans for each of my online projects forces me to think about what I actually need to do to make money online, how much time will most likely be needed, and how much money I need.  In fact, you aren’t likely to get a loan or any form of financial backing from anyone outside your friends and family if you don’t create a business plan.  Although it is possible to create a one page business plan, I recommend making a plan over a few hours in a week.  Each section needs to be given thought and carefully considered.  A well thought out and researched plan will allow you to dive right in to the work of creating your online business by providing goals and focus instead of seeing a lot of information but no way to sift through it all to what you need for your online business.  The parts of a business plan that I will go over briefly are:
Executive Summary
Company Analysis
Industry Analysis
Marketing Plan
Operations And Developmental Plans
Management team
Financial Plan
Appendix

Over the next few weeks I’ll go over each part show you what needs to be in each part.

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Filed under: How To Start A Business OnlineHow to Start Online

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