If you have that entrepreneurial spark inside you and want
to do the same as many of the companies and people that I write about then the first place to start is with a
business plan.
I found a useful video from Bloomberg on how the process
should begin.
http://www.youtube.com/watch?v=Tn2JKAwGn5E&feature=related
Lawrence Gelburd, a professor at Wharton and contributor on
MSNBC’s show “Your Business,” says that you must transform your idea from “I
think this is a great idea” to “the data I have assembled shows this is a great
idea.”
Step one of writing a business plan is to identify the
audience. After that there are 4 main points of interest.
1.Executive
Summary
2.Management
Team
3.Advisory
Board
4.Financial
Information
--Income
Statement
--Balance
Sheet
--Cash
Flow
--Capital
needed and uses of funds
The secret to a great entrepreneur is the balance between
analysis and action!
This is only the beginning but a great tool. A great place
to see some sample business plans is SBA.gov. I hope it has inspired you to get
out there and start something.
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