Starting a Training Business? Here are some Business First steps!
No matter what kind of business you are interested in starting, Entrepreneur Magazine recently printed an article with some excellent advice for any business owner to be. We’ve taken some of that great information and condensed it down for you – and made it appropriate for those interested in starting a training business, like In Good Company.
These ideas are taken from Rule’s Book of Business Plans for Startups
The business plan is instrumental to your success. Though many people find the idea of creating a business plan intimidating, it is an important process to go through. It “exposes a new company’s strengths and weaknesses” – something that can be very valuable to you as a new business owner helping you to spot potential problems before they even start.
The book points out that during your startup stage and while you are writing your business plan you will be considering the following points :
- Vesting
- Business objectives
- Mission statement
- Keys to success
- Industry analysis
- Market analysis
- Competitor analysis
- Strategies
- Marketing plan
- Management
- Organizational structure
- Operations
- Financial pro formas
- Break-even analysis
- Financial requirements
They advise that though many people won’t be familiar with all these terms at the outset, going through a step by step process if helpful, and within 2-4 weeks the business plan can be complete – and you are well on the way to living your dream!
For more information : https://www.entrepreneur.com/article/76140