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Key Tips for Starting a Business

Access a Business Plan Evaluation for both new and existing businesses

Use these tips for starting a business or for managing an existing business. In either case you need to plan and prepare. To request a business plan evaluation or a business case evaluation please use the contact us form and provide enough detail for us to prepare an accurate quote.

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For example, a 20 page plan with good detail and information may require a 5 hour review and analysis and cost $350 USD; a 40 page plan may require 15 hours to review and cost $1050 UDS; or a 3 page business case outline may require 2 hours of review time and cost $140 USD.

For a specific price quote, please provide details in the contact us form and we will send you a quote or request more information which we might need to provide a quote.

These Tips for Starting a Business are a quick checklist approach to opening a business. If you are already running a business, use this as an overview to see if you need to review any of these tips or steps.

Decide on your business structure: sole proprietorship, business partnership or incorporation (check with your local government for the best structure for your business).

Do you know the difference between a business plan and a business case? Your business case needs to be completed first - it is the review and justification for moving forward with your business idea. Once that is completed, then build your plan.

From your business case evaluation (try to have a third party review it - an advisor, your lender, or a consultant or knowledgeable friend or associate), build your strategic plan.

Develop a business plan outline; then test your business case. Can you make a profit? Do you have the cash flow to survive? Do you have the capital funds to start out? Do you have the staff or resources necessary?

Quick Tips for Starting a Business:

Your strategic plan needs to include the following:

  • Executive Summary (not more than 2 pages and preferably 1 page).
  • Business Background - what your operation does, who the owners are - what makes your capabilities are, how long in business, and any other information that is relevant.
  • Marketing Plan: this needs to cover product or service, pricing, distribution and promotion and sales strategies and tactics. It also needs to cover your competitive environment, the industry you will be (or are) operating in, and your unique value proposition and competitive advantage.
  • Sales Plan: this needs to be a realistic plan (it's easy to over-estimate - be conservative).
  • Operations Plan: this needs to address resources - both people and equipment.
  • Financial Plan: understand what your cash flow needs will be and how to raise startup funds - make sure you address these and pull together a 5 year plan and forecast.
  • Other plans that are specific to your organization, such as a market research plan.
  • Your plan objectives and goals.
  • Your plan strategies and actions.

Important Note:
Request a Business Case or Business Plan Evaluation - please use the Contact Us form.

Why a Business Case or Business Plan Review?

Tips for starting a business: business success tools and tips can help you start your venture and build good results, faster.

When you start a new business, you typically are highly focused on the operations side of the business - trying to deliver the service or product to market as quickly and efficiently as possible.

It's easy to get sidetracked on the need to deliver, however you need to also keep your plan in front of you and focus on that plan - it's your roadmap to getting where you want to go (I like to keep a one page checklist of the action items in my plan in front of me - and check off the achievements as they occur).

Use the comment box in the form to tell us what you want us to focus on in the business plan review (areas of concern). Starting a new venture can be a challenge; find out if your plan is strong enough or what you need to do to improve it.

You will receive a two to five page evaluation of the strengths and weaknesses of your business plan or business case.

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Feedback from Site Visitors:

Hello. I am a professor teaching Human Resources Management. You have an excellent page on writing business value statements entitled your "Value Statement: Develop a Definition of Values in Your Business". I would like to use this page (giving full credit) to teach my students how to write good business value statements for the HR Strategic Plan they are required to prepare. Thank you. Richard C. Brocato, Ph.D. Professor of Management, Maryland, USA

(Note from Kris: I was happy to give permission to use as the source was fully credited.)

Hi Kris, I really appreciate your collection of business resources on your site; it provides a fantastic outline for writing a business plan as well as the detailed information needed to prepare the content for a great plan. Thanks, Pierce, USA

Hello. I would like your permission to quote your website within my paper for a marketing class I am taking to earn my Bachelors in Business Management. I am currently in a marketing class and I find the simplicity of your definitions and the ease with which you convey the ideas and terms of marketing to be very helpful. Thanks! Amanda, USA

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