What Business Plan?

When we are beginning a new business or shall we say adventure why do we need a business plan? The business plan helps you to organize what you need and want to accomplish in your business. For each person the business plan may look a little different. That is because we are all different and we each have our own way of organizing the information we are given. In the reading this week it outlined the structure of a business plan as follows: - Cover page and table of contents - Executive summary - Business description - Business environment analysis - Industry background - Competitive analysis - Market analysis - Marketing plan - Operations plan - Management summary - Financial plan - Attachments and milestones While every business plan is different and not all follow this structure they are still very important to starting your business. Like all good plans sometimes you run into issues or delays that you didn't plan on. Plans can change however you want to make sure your goals are aligned so you can stay on the path to reach that goal even if it veers to the right slightly. Take my business plan for this class. Initially I had a great idea however, that changed and I am going to go another direction. As I have analyzed exactly what I want to do having this structured business plan detailed above will help me in doing whatever it takes to set up a great business. Thinking of a business and how I can make it work really makes me happy and excited for this adventure. So let the gates open and the race begin because like Justify's odds of winning the Preakness Stakes tomorrow. With a good business plan I can win the $100 Challenge in the B 283: 02 class.

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