Melinda Emerson, America’s number one small business expert, CEO of Quintessence Group, and Best-selling Author, is the guest on today’s episode of The Small Business Show. In this article, we will discuss how to create a solid business plan with Melinda Emerson.
1. Before launching your business, it is highly recommended to plan 12 months ahead. During this time, you should research, talk to the right people, save money and most importantly understand who your target customer will be.
2. The first step in creating a successful business plan is determining the reason behind why you want to start this business. Your purpose, values and mission should be clearly stated in your plan.
3. Financing your business is another important aspect to consider when creating a business plan. Banks generally do not lend money to startups; therefore most startups are funded using personal savings. It’s important to have a solid financial strategy in place before starting your business.
4. When it comes to running your business successfully, you need to determine if you have the necessary skills or if you need to gain more experience by working for another similar business before launching your own. Some people may also benefit from taking classes or workshops on specific areas they need to improve upon or seek out mentorship from experienced professionals in their industry.
5. It’s crucial to have a well-thought-out marketing plan and understand your target audience before launching your business