He’s also the founder of Word Stream, the World’s top PPC marketing software company. It's definitely not the most exciting part of starting a business.You can subscribe to Kim's business growth tips by email, or connect on Linked In, Twitter and Facebook. In fact, if you're like a lot of entrepreneurs, you're probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding.He teaches in the areas of strategy and entrepreneurship and he has won teaching awards at Indiana University, the University of Washington and GIBS. Greg Fisher was named on The List of the ‘40 Most Outstanding Business School Professors under 40’ in the USA in 2014 and in 2016 he was named among the ‘Favorite Business School Professors Teaching MBAs’. in Entrepreneurship and Strategy from the University of Washington in Seattle and an MBA from GIBS.
It is essential to have a realistic, working business plan when you're starting up a business.
A business plan is a written document that describes your business, its objectives, its strategies, the market it is in and its financial forecasts.
This is important regardless of whether you have previous experience in that particular industry.
You can use the Internet, industry experts and associations, suppliers and existing competitors for the information.
The license for this plan is $16 and gives you access to hundreds of editable slides to choose from.
Have you noticed that the trend in business planning right now is that less is more?
Also, if you are responsible for writing the business plan, you could identify certain challenges and find solutions to them, it will also ensure that you know every single aspect of the business, which is critical when meeting with potential investors.
You may need assistance putting together the financial information if you don’t have a financial background, but make sure you get an accountant to explain what all the figures mean.
Updating and referring to your plan on a regular basis can drive better decision making and help keep your focus clear.
This is critical as the demands of growth, customers, staff, and investors threaten to cloud your company's vision.