Business Plan

             What is a business plan and why is it an essential first step for a start-up firm?
             I found what I think are two very good definitions of a business plan and its purpose. These definitions can be found on the web and in several books. An excellent example of one of these books is "The Complete Idiots Guide to Starting Your Own Business." The United States Small Business Association is an excellent beginning source website. This website states "A business plan precisely defines your business, identifies your goals, and serves as your firms resume" ("Business Plan Basics", 2003 ¶ 1). The Complete Idiots Guide to Starting Your Own Business, Fourth Edition states, "A business plan is just a simulation. It is a way of predicting the future success of a business idea" (Paulson, 2003).
             Why is it an important first step for a start up-up firm?
             A business plan serves several important functions to someone who is thinking of starting a business. A business plan will make you look at several things you might not have thought of if you try to start a business without one (Paulson, 2003 p. 35). They are as follows:
             1. Why do I want to go into business? (Paulson, 2003 p. 25)
             a. Is it because I want to be my own boss?
             b. Is it for my own financial independence because I do not want to work for others?
             c. Is it because I want to follow my own direction and utilize my own ideas.
             d. Is it because I want to use my own skills and knowledge and not just follow the rules and operating procedures of someone else?
             2. A business plan will make me look to see if what I want to do is the correct business for me ("Business Plan Basics", ¶ 5). You will be forced to ask yourself such questions as:
             a. What do I like to do with my time? Is this the kind of business that I want to invest all of the time that will be required?
             b. Do I have the correct technical skills to d...

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