Business Planning
Starting a home business–whether a home Internet business, or a brick and morter store–requires strategic business planning. The scale necessary for a single person ebay store will be considerably smaller than for a multi million dollar start up. Nevertheless, the basic elements of strategic business planning and the need for planning remain the same.
Important Note: Writing a home Internet business plan is as much an analytical tool for yourself as it is a plan lets a financial advisor and potential funding sources understand the viability of your business. In fact, the reason I go into so much detail about what a business plan is is because it is such a powerful tool for your own use.
Every successful business plan should include something about each of the following areas, since these are what make up the essentials of a good business plan:
- Executive Summary
- Market Analysis
- Company Description
- Organization & Management
- Marketing & Sales Management
- Service or Product Line
- Funding Request
- Financials
In some cases, depending on the scale of the business, each of the categories might be satisfied with a brief explanation. If you are a small enough business, or if you are "boot strapping" it, the category of "Funding Request" might be left empty. That would be my case. At present there no funding requests for start up money. Happily, there is no need, but your scenario could be much different.