It seems that nearly everyone you meet has an idea for a new business.
The topic usually arises while enjoying a few cocktails with friends or at the company water cooler.
Many times the conversation is premised with "You know what they should make...
" or "I've got a great idea for a business...
".
It just goes to show that we all have a little bit of the entrepreneurial spirit within us (some more than others).
In reality however few of these wannabe entrepreneurs ever really take action.
Although idea generation is an important beginning process for any entrepreneur, it is merely the first step along a usually long and arduous journey to forming a viable business.
If it appears that a person truly believes in their initiative the first question that should be raised is "How far along are you on the business planning process?" Have they conducted market research? Have they forecasted 1st year sales revenues? Projected costs? Perhaps more appropriately, have they written a business plan? For the large majority the answer to the questions above is in the negative.
For those of us really interested in pursuing an entrepreneurial life we know the importance of composing a business plan.
Whether you are using the plan as a means of seeking funding or already have startup capital in place, a business plan is a great tool for plotting your business venture.
Below are just a few links that will be helpful for those of you who wish to jump into the rather time consuming process of writing a business plan.
As you will see, it is not a lack of business plan information that is the issue.
The difficulty lies in choosing the best source with the most relevant, helpful content.
Many websites may include some information on writing a plan but ultimately are interested in selling software of consultation services.
The sites below offer useful and more importantly free information.
SBA - the U.
S.
Small Business Administration is a great resource for entrepreneurs just beginning and more seasoned small business owners as well.
Inc.
com - website for Inc.
magazine, basic overview of writing a business plan including structure, common mistakes, and competitor research.
Bplans.
com - comprehensive business plan resource including templates, outlines, and webinars Highland Capital Partners - venture capital firm website but offers sound advice and information for entrepreneurs