How To Decide What Business To Start?

 What does it take to create a new small business?

1. Do something that you are passionate about
2. Choose a business that you have experience with
3. Start out small with your new business.

 

 Write a plan for your business

After you have decided what type of business to start, creating a plan can help you assess the feasibility of creating the new business. A business plan includes different sections that will help you further define what will be necessary along with opportunities.

- Executive Summary

- Description of Company

- Strategic Plan

- Management & Organization

- Products & Services

- Market Analysis

- Marketing Plan

- Financial Plan

- Conclusion

Strategic Plan Template

Mission Statement

A mission is at the core of why you are doing the work you do. A mission statement reflects the purpose and may include some strategy reflection.

Vision Statement

Vision is a long-range picture of how the result will be if you are successful.

Problem Statement

Many planners include a problem statement in their strategic plan. A problem statement summarizes key issues facing the county and provides a helpful backdrop to understanding strategic choices.

SWOT Analysis

SWOT = Strength; Weakness; Opportunity; Threat

Can be done at both the internal and external levels. SWOT provides additional context for strategic decision making.

Goals

Goals are simply a clear statement of the mission, listing the accomplishments that are to be achieved if the mission does become real. Target objectives are even clearer statements of the specific activities that are required to achieve the various goals, starting from the current status.

Objectives

Address the difference between where we are and where we want to be by listing out what we do to achieve the goals.

Action Plans

Translate the Strategic Plan into implementation steps.

                                            

Strategic Plan

Preparation- Schedule at least two three-hour sessions with plenty of notice to your participants carefully considers who should participate. Establish clear expectations and clarify roles for participants. Create a plan to evaluate your sessions.

Vision- Vision is a long-range picture of how the result will be if you are successful.

SWOT Analysis- (SWOT = Strength; Weakness; Opportunity; Threat) Can be done at both the internal and external levels. SWOT provides additional context for strategic decision making.

Context- Separate from SWOT, many groups fined it helpful to place their prevention work in the context of some very basic facts.

Mission- A mission is at the core of why you are doing the work you do. A mission statement reflects the purpose and may include some strategy reflection.

Problem Statement- Many planners include a problem statement in their strategic plan. A problem statement summarizes key issues facing the county and provides a helpful backdrop to understanding strategic choices.

Strategies-

Goals- Goals are simply a clear statement of the mission, listing the accomplishments that are to be achieved if the mission does become real. Target objectives are even clearer statements of the specific activities that are required to achieve the various goals, starting from the current status.

Objectives- Basically address the difference between where we are and where we want to be by listing out what we do to achieve the objective.

Action Plans / Activities- Basically translate the Strategic Plan into implementation steps.

Evaluation- Evaluation plans are required as an integral part of the strategic plan. An evaluation plan assists you with seeing if you are on track and achieving the specific goals you set for yourself.