Developing a Winning Business Plan
A great business starts with a great idea – filling an unmet need, tapping a new market, bringing new technology to improve an old process, etc. From there, a business plan will help you organize your plan of attack and how you will turn this idea into a feasible venture. A great resource and outline for writing a business plan can be accessed on Entrepreneur.com.
You will need your business plan to help you set goals and operate your business, as well as to show potential sources of capital including banks and investors. Don’t take this step lightly. Businesses that operate without formal business plans are much more likely to fail.
In our own company, this plan is a living document (we call it the ‘Constitution of the Vanivo’). We make changes at least quarterly, noting a new marketing method or target market, dropping or modifying services that no longer are worth pursuing, and much more. Refer back to this document often to keep yourself on track for your long term goals.
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Tony Kau is co-founder of Portland web design and Internet marketing company Vanivo. For service inquiries, you can contact him directly at tony -at- vanivo.com.
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