You need a business plan, sometimes called a feasibility plan and also known as an operational plan but no matter what name you give it, this plan is your ROADMAP, not only, for your benefit, but also, for the benefit of what eve audience you are targeting.
There is no such thing as an effective generic business plan, especially if you download a template from the net. The author of a professionally written business plan will prepare a plan designed for the “target market’ desired to produce the best results; for instance, you might want to target your plan for lenders so they know your past financial history, if applicable, and/or your projections for both the lender and investors.
Then you may wish to recruit key employees and need a plan centered around incentivizing the perspective employee or a plan designed for just suppliers to encourage their giving you credit without divulging any intellectual property. And finally, you need a plan for your own personal navigation to go from point “A” to “Z” without which you would be sailing blind, subject to all those storms we keep referencing.
You will find a complete chapter on how to structure a business plan in the Navigational box where you can read the contents of my book and order same; however, here are the main topics of any comprehensive plan: * EXECUTIVE SUMMARY * COMPANY HISTORY * INDUSTRY HISTORY * MANAGEMENT * MARKETING * COMPETITION * FINANCIAL HISTORY AND PROJECTIONS IF APPLICABALE * RISK ANALYSIS * EXIT STRATEGY Whether you are a generation from the Post War era or a Millennial you need a business plan and would be best advised to hire a professional author of business plans to do the job, the cost will range depending upon the complexity of the plan but it should take about 25 hours at $200/hour (our charges) with half up front and the other half upon a final deliverable.