City : Enterprise Road : Where to Begin
Your first step should be writing a really good business plan. This will turn your idea into something that could be reality, so take care over this step.
Writing a business Plan:
A business plan is essential for the success of any new business, it is vital to have one when you ask for funding or a partnership. It will also help to keep your business strategy clear in your mind.
Some Resources for Writing Your Business Plan
The Prince's Trust has some great advice on writing a plan and even provides some templates you can use. All the resources on their site are free to use.
You can also download a template for a business plan from the government website. The site also has plenty of other useful information.
You will need to consider the following when you are writing your business plan:
- A brief description of your business that makes people remember you and it
- An assessment of the market for your product or service
- Potential difficulties to overcome and opportunities for growth
- How you will finance it before you start to make money
- Short-term and longer-term aims, with expected timescales
- Your sales and marketing strategy
- Premises and personnel
- Taxes and accounting