Wednesday, April 27, 2011

Writing A business Plan to help prevent burnout

This is going to sound old-school and super boring; but I would never, ever quit my day job with the intention of supporting myself with any venture without first writing a business plan.

A business plan addresses key issues of determining what you must do in order to earn the money you need to earn to support yourself without that day-job paycheck. A business plan addresses these key concepts:

Overall description of your business
Market analysis including competition
Description of Products and Services
Marketing and sales strategy
Organization and Management
Financial management and record keeping
The U.S. Small Business Administration has great free resources for you to create a business plan (and a whole host of other helpful information). Creating a business plan is not an easy task and it will take commitment and focus on your part to do it. But if you don’t focus here, you will continue to run in circles and punch in the dark. Writing a business plan allows you to punch with the lights turned on!

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