Business Plan

This is usually the hardest part of being an entrepreneur. Entrepreneurs feel that they have all the answers and are confident that they can make it all work. It is the business plan that helps you challenge your concept by answering many questions and helps you communicate the plan to other people who you will need to succeed.

Although the business planning exercise is very detailed and felt to be unproductive by many entrepreneurs; if taken seriously, it can help you improve your concept. As you go through the many questions you will force yourself to figure out a lot of things you may not have considered. You may find that your "great idea" isn't so great when you take it through the business plan process or test.

For kids, this is a very difficult section to work through. You may not be able to fully understand some of the questions and you may not have many of the answers, but you will learn a lot about being an entrepreneur as you  go through the process. As you learn about business you can further develop your business plan.

There are lots of approaches to learning to be an entrepreneur and to develop entrepreneurship, but if you learn to create ideas and figure out how to communicate your ideas you are well on your way to being an entrepreneur. With a  great idea and a good plan, your chances of succeeding are good. The next key component you will need is the resources and a team of people to make it succeed - this will be identified in a business plan.

We suggest that you get some help to write your business plan from some of the other resources we have summarized @ Other business plan approaches

 

         Are you ready for an entrepreneurial  venture?