Now that you have your idea in place, there are a few important questions you need to ask yourself. What is the purpose of your business? Who are you selling to? What are your end goals? How will you finance your startup costs? All of these questions can be answered in a well-written business plan.
A business plan helps you figure out where your company is going, how it will overcome any potential difficulties, and what you need to sustain it.
The following are the basic components of a Business Plan
• What your business is about and how you will accomplish your goals.
• Your extended goals, and how you will fill your market’s needs.
• Your research on your target market.
• Organization and management of your company.
• Your service or product line, including copyright information.
• Strategies for market penetration and growth.
• Estimated costs and funding request (if you need financial assistance you can always consult experts. Click here to get a list of accredited consultants/ institutions who are experienced in offering technical expertise on access to finance