Business Plan Checklist

Gather your basic financial statements

  • Financial statements are ;formal records of your business' financial activities. There are four basic statements:

Determine your audience

  • This is a critical part of a successful business plan. ;Incorporate research on both groups.

Incorporate these elements

Consider these topics

Consider the other factors on this list of business-planning essentials:

Avoid business failure

  • If you're not prepared, your business will likely fail.
  • Be sure to establish and follow clear goals and objectives to meet the vision.
  • Stay flexible and you will succeed.
  • And whatever you do, don't underestimate the competition.
  • Communicate well, and often.

A well-developed business plan is critical for any start-up business. To develop a thorough business plan, research your customers and competition; avoid mistakes that lead to business failure; and know how to implement a business plan and make it work. Your business plan should include a basic financial statement, all major pieces of a business plan, and information from your business-planning checklist.

Tips

  • Keep your focus on these three things:
    • Cut costs to the bone
    • Offer something unique
    • Focus on one customer group