The Inside-Out Business Plan™ -- Your Small Business Plan in 10 Easy Questions

The Inside-Out Business Plan™ -- Your Small Business Plan in 10 Easy Questions

Writing a business plan for your Solo Entrepreneur business doesn't have to
be a daunting project. If you can answer 10 straightforward questions about your
business, you can be ready to go.

The key to success is to answer all of the questions in enough depth that if
a friend asked you to invest in this business, you'd say yes. Most importantly,
make sure you record your business plan somehow...whether you write it by hand,
type it into your computer, or put it on stickie notes on your wall. Keep it
someplace handy where you can refer to it when you are making important business
decisions. And, make sure you review it monthly--or, even better, weekly--and
update it at least annually.

1. Your Dreams: What do you want your business to provide for you?
(think time, money, freedom, who you work with) Be specific--how much money, how
many hours, when do you want to "retire".

2. Customers: Who are your customers and what do they want/need?

3. Products and Services: What products/services will you provide to
meet customer's needs?

4. Markets: Where are your customers and what do you know about them
as a group? "Where" might be geographic, it might be what kind of places they
hang out, or where they go to find products or services like yours. What is
their age, income, gender, hobbies, family structure, etc.

5. Your Style: How will you reach customers and what will you say?
Your methods of reaching customers needs to match with where your customers
are--and with a message that they can relate to.

6. Competitors: Where else are your customers likely to get this need
met? Find out all you can about how your competitors price, market, and provide
service.

7. Your Uniqueness: How will your product/service meet customer's
needs differently than your competitors? Consider how your personal uniqueness
impacts that.

8. Your Abilities: Of the skills necessary to run your business, what
do you do well, and what do you need help with?

9. External Resources: What people/technology/services will support
you in the skills you need help with?

10. Fulfilling your Dreams: How will your business provide the kind of
working environment you desire, both in how much time you spend, how you perform
your work, and how much money you make? Here's where the rubber meets the
road--make sure you can show how you will sell X amount of product or service at
Y price, cover your expenses, and reach the goals you set in 1. above.

Once you can answer all these questions, have it reviewed by some trusted,
experienced professionals who will give you objective feedback. Consider a
business coach, as one such resource!

Copyright 2004, Terri Zwierzynski - Accel Innovation, Inc.

Terri Zwierzynski is a coach to small business owners and Solo Entrepreneurs.
She is also the CEI (Conductor of Extraordinary Ideas) at Solo-E.com and the
author of 136 Ways To Market Your Small Business. Terri is an MBA honors
graduate from UNC-Chapel Hill. Terri has been coaching for over 10 years in a
variety of settings, including 6 years as a senior-level coach and consultant
for a Fortune 500 company. She opened her private coaching practice in 2001. You
can reach Terri at http://www.FastLaneDreams.com.