You have a great idea. You’ve researched the demand for your product/service, now you need a solid business plan for small business. Sure, there are many businesses that launch without one, but having a rock solid business planwill give you a much higher chance of securing funding and will help you stay on track through the launch and management of your business. (For help writing or reviewing your business plan, contact SBDC.) This infographic by Washington State University covers some major questions that aspiring small business owners need to ask themselves such as what is my mission, what problem is my business going to solve in the market, and how can we be better than any of our future competitors? In addition to those internal questions, your business plan needs to have detailed information on who your target market is, what your financial predictions are, and how much money it’s going to take from launch to breaking even.
This infographic will help small business owners get in the right frame of mind about their business plan: