1. “Steps in Creating Business Plans and
Necessary Pointers You Shouldn't Dare Miss”
© Copyright Ewen Chia
www.TheOnlineGuru.com
It is undoubtedly a must for businesses to have business plans. Those which go on
without one are certainly facing doomsday sooner or later. A plan is your venture's
framework. It is what your business is all about and it defines the ways on how you are
going to bring it to success. If you don't know how to create a plan like this yet, below are
the steps you should follow, as well as the pointers you must keep in mind when creating
one.
Steps
Here are the basic steps in formulating a business plot:
 Start with your basic concept for business. Make sure to write it down.
 Gather and compile all the data that cover the feasibility and specifics of the
concept.
 Focus on your concept and refine it.
 Be more specific with the 4 W's (what, why, where and when) and 1H (how).
Put the specifics of your business in an outline form.
 Polish it into a persuasive form so it will not only make you focus but help
you define the very important aspects of business too.
 Review the plan and then print it. Have it in tow all the time and then add or
omit some things as you progress through the business.
Pointers
When creating business plans, the following pointers are very important:
 A sound concept - You can’t work on every business of your fancy. Your concept
must be something doable for you. The best way to learn about a venture is to
work for or with someone else who has that business.
 A good idea of your market-You should know your market and what kind of
product or service would catch their attention and fulfill their needs. It would help
if you could try selling your prospective product or offering your service first. If
the result is encouraging, then you must be on the right track.

2.  Capable and dynamic management -- If you are starting a small online business,
you may only need yourself, but if you are off to establish a big business both
online and offline, you need people you can depend on-- those who practice
ethical values and those who may even be smarter than you. They can
complement the talents that you lack.
 Qualified accounting-You must brush up with the basics of accounting or hire
someone who can give you a hand. You have to know how to keep your score.
 An openness to change-Your mindset must be open to change, in fact, it must
anticipate change. Keep your thoughts fluid and be aggressive when it comes to
making revisions. The economy is very dynamic. Your business should be able to
go with the flow whenever necessary.
These are the basic steps and things to consider when making business plans. Keeping
them in mind will surely help you come up with one that has a lot of potential to succeed.
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