More and more people are starting their own businesses these days. If you’re headed down this path, there are essential factors you should know.
Another important consideration is to take the time to create a formal business plan. Make sure your plan addresses some basic questions:
- Is this a good and original business idea?
- What does my competition look like and what will be my advantage over them?
- When do I expect to make a profit?
Your business plan will not only help with finding financing, it will also serve as your roadmap – projecting your objectives and commitment to making your business venture not just work, but becoming a true success.