We’ve all been there at some point in our life… flipping burgers, bagging groceries, bank teller, babysitting. Not that there is anything wrong with these jobs. Let’s face it, if people didn’t do them, then life would be much more of an inconvenience. And, though there are some that enjoy working the drive-thru at the fast food joint, many of us accept these jobs as a means of getting by, whether it be working through school or even because we have no other options and must simply earn a paycheck.

But, deep down inside, we all have a dream to do and be something else. Many of us want to work for ourselves. The ambition to be an entrepreneur is usually in the back of everyone’s mind. And though the numbers of entrepreneurs out there continue to grow, it is far too often that people have dreams and do nothing to pursue them.

You have a couple of options. The first is that you can be one of those people who has a dream his entire life, but never makes anything of it outside of an occasional hobby. Such people typically claim that life has thrown so many obstacles at them that it would be impossible to pursue their dream. And they are full of excuses, such as not having the means to get started.

Continue reading : Seeking a Dream »

COMMON BUSINESS PLAN MISTAKES
Even with all of the information provided in the first six parts of this post series, there are still mistakes to be made on a Business Plan. No one is perfect and your Business Plan won’t turn out perfect on the first draft either (and probably not the second or third). However, there are some common mistakes to keep in mind when writing and reviewing your Business Plan that will at least aid in attaining perfection.

Failure to be Clear and Concise
The most common mistake when preparing any document is a failure to convey what you want to the reader. There are two main elements that can contribute to this error.

Continue reading : Common Mistakes – How to Write a Business Plan – Part 7 of 8 »

THE EXECUTIVE SUMMARY
The executive summary is the most important part of your Business Plan and, in fact, should be the first section. However, you can’t do the executive summary until you are finished with all the other sections, which is why I saved it for last.

The executive summary is exactly as it name implies – it is a summary of your entire business plan. You also need to include a brief history of your company. The entire executive summary should not be longer than four pages. Consider using a bullet system to highlight information and make a smoother read. You want to provide information, but you don’t want to bore potential investors/lenders from the start. This is what will either grab their attention or give them the urge to find a wastepaper basket.

Continue reading : Executive Summary, Table of Contents and Appendix – How to Write a Business Plan – Part 6 of 8 »