Tuesday, January 26, 2010

Ron K.

5 Steps to Writing a Business Plan
  1. Identify Your Audience - this would be investors, employees (big hires), partners, or banks
  2. Outline the Plan - some or all of the following: company profile, problem, solution, market, competition, management team, financials
  3. Write the Plan - write the plan, No miracles! If you require a miracle to cut a profit, your idea sucks
  4. Review Plan - proofread and fix errors, also each topic gets similar weight - too much tech and too little market means you're a geek who doesn't understand
  5. Update Plan - create a version control system and keep track of who has what version, also include a subtle NDA where you state their name and confidentiality of the content
A good indicator of your market: are they already buying? If so, how much and how often?

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