Starting a business can be an exhilarating and rewarding endeavor, but it is not for everyone.
Completing this class is an important step toward a healthy business.
1. There is more than one way to plan. The planning process is just as important for you as it is for your stakeholders.
2. The types of plans you need will change as your business goes from an idea to a fully realized company. In the case study, Sophia adapts her planning strategies as her business grows and she needs to fine-tune her priorities.
3. Make the time to write a comprehensive business plan. Do your homework. The more data and details you can provide, the more your stakeholders will be able to “see” your plans come to life.
4. The planning process is a great way to convince yourself that your ideas are attainable and realistic. When you find flaws in your reasoning, this is a good thing. You can prevent a lot of problems later on.
5. Find ways to engage your stakeholders (such as bank officers or investors) in your planning process. This allows them to act as sounding boards for you as you plan.
6. After you win a loan, keep planning. Creating an action plan is a healthy use of your time. It is a living document. Updating your plan helps you to sustain a successful, healthy business over the long term.
Keystone Kafe B-Bay
7805 Military Rd, Omaha, Nebraska 68134