"I like thinking of possibilities. At any time, an entirely new possibility is liable to come along and spin you off in an entirely new direction. The trick, I`ve learned, is to be awake to the moment." By: Doug Hall: Professional inventor and idea guru. 
If you are thinking about starting a business or maybe have an idea that you think is great and you can turn it into a business, there is no question you need to get your thoughts down on paper.
This is normally done in the form of a business plan. However, most people think business plan and immediately cringe and start fearing it is beyond their means.
I like to watch the show "The Big Idea" hosted by Danny Deutsch on CNBC. It is a very motivational an educational show about getting you on the right track in starting a business or becoming a successful entrepreneur. In one of their most recent episodes they were talking to some people that, yes, did have a business plan, but it was not the traditional one that you might imagine.
It did not have all the bells and whistles of a Madison Avenue type of plan, but then again most business plans do not. What they all do need to have is your thoughts written down in a clear and concise format that you can understand with information that is pertinent to what you are trying to accomplish.
For one person on the show, her plan was simply a drawn out diagram of how she could get her product from point A (the starting point) to point B (into the customer's hands as a sale). Your plan may require more work, or then again it may require less.
I have put together some questions that you need to ask yourself as budding entrepreneur. Use these questions as a guideline for your plan, or even the plan itself. Most importantly, answer these questions honestly and thoroughly and you will soon see a clear vision of what you want to achieve come into light.
MISSION STATEMENT
Come up with a mission statement. Before you do anything write down your mission statement. In other words what is the mission you are trying to accomplish with your product or service?
YOUR BUSINESS IDEA
Write down your business idea. If you are selling a new product write down what it is.
NEED
Write down what need your product or service addresses. Whatever it is you sell it must fill a need otherwise no one would buy it. Define the need that it fills.
SALES AND PROMOTIONS
Define how exactly you are going to sell and/or promote your business. Are you going to be a brick and mortar storefront or sell and advertise over the web? Don`t worry about financials of either right now. In this process we are trying to define your business's purpose and who your customers are.
DIFFERENTIATE
Write down what makes your product or service different from all of the other similar products out there.
THE MARKETPLACE
This step will require some research. I recommend going to the library and asking a librarian to help you out. In this step you need to define how big your market is for your product or service and how much your customer is willing to pay for it. Based on this information define how big your market can grow. If you sell women`s suits that appeal to the 35 to 45 year old crowd, you can obviously come up with your growth and market numbers.
KNOW YOUR ROLE
Define what your role will be in your company. Are you in sales? Marketing? Accounting? Maybe you are all of the above. You need to define your role.
YOUR STAFF
Will anybody be helping you? Do you need to hire additional help? If your new business will require help from others here is where you will write that down. Define what you need and what their roles will be.
INCOME
In this step you need to write down how your customers will pay you and based on your market research under "The Marketplace", how much your product or service will cost your customer.
HOW MUCH
This also requires some research. How much money will you need to get your product based or service based business off the ground? Write down everything it will take to get your product from design, through production and into the customer's hands. If it is a service, define the cost of getting this service to the customer, the tools you use and so on.
HOW ARE YOU PAYING FOR THIS
Define where your startup money is coming from. Now that you know how much you need, where is it coming from? Friends, family, banks, savings etc.
SUCCESS
Define your success. In order to know whether or not you are succeeding, you need to define what it means to you to be successful. If your goal is to sell a million dollars in suits, write that down. Maybe you want to sell 1,000 suits, write that down. Whatever success is to you, then you need put it into the plan.
MILESTONES
Write down your milestones. Every business has a milestone. Whether it is getting your first customer, making your first dollar or selling your first product, these are all type of milestones. Date each milestone and that will hold you accountable to your plan.
Answer each section above thoroughly and you will have the plan you need to succeed. Just remember to revisit your plan on a daily basis and update it with new information that you find. This will keep your plan up to date and current.
By: M. Podlesny
About the Author:
M. Podlesny is a freelance writer for http://www.Indocquent.com, an online resource and social network, where you can advertise your business, products or services without pay-per-click prices or auction fees.
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