The most important first step to running a home business or even one from a million dollar commercial office is to form a business plan. If you are going to start a business at home you must start as a professional. You cannot skip this step. If you can find a business plan class at a local school the value to your business will be priceless. Here are the most important aspects of a business plan.
Business Mission
Set goals and develop a mission for your business. Assess all angles of your business so you know where you are starting from.
Market
Write out a thorough description of your potential market. Detail who the product or service will be for.
Product
Detail every aspect, including the positives and negatives of the product or service the business will provide.
Finances
Write a financial plan for the business. Describe what assets you are putting into the business and the amount of money that you may need to successfully move forward.
Strategy
Plan a strategy that details how you will market or sell your product or service to the public. List public relations, advertising and communication ideas.
Records and Organization
Describe how you will maintain business records and how you will organize your space, time and production area.
