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It’s that time of year again when many people are talking about New Year’s Resolutions. Is your resolution to become an entrepreneur and start your own company? If so, what’s the best way to accomplish that goal?

Experts recommend the first couple of steps in accomplishing any New Year’s Resolutions are to write down your goal and make a plan. For your new startup aspirations, Ultimate Business Planner can help you write a business plan. 

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Risks When Writing A Business Plan

Posted on June 19, 2013

There are a lot of benefits of writing a business plan. But, there are also a few risks to consider and keep in mind when you’re writing a business plan. First, don’t expect your business plan to be a crystal ball. Second, remember you’re writing a business plan, not a book. Third, beware of analysis paralysis. And, fourth, remember that your business plan represents you.

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Do you need help to write a business plan? There are lots of resources out there to help you, including business planning software, business plan samples, trade associations, books and magazines, and government agencies.

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Interested in opening your own business startup, but don’t know where to begin? Start with these five crucial components:

  1. research the market and your competition
  2. make an inventory list of the supplies you’ll need
  3. talk to your lawyer about company structure
  4. write a business plan, and 
  5. secure financing
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One of the most important parts of a business plan is the marketing plan. A business marketing plan is needed because it explains how you will be gaining new sales and increasing revenue. A simple rule of thumb for preparing the marketing plan is to cover the “Four P’s” of marketing: Product, Price, Place, and Promotion. One of the easiest things to do when writing a business plan is to implement business plan software. 

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