Email this Article Print This Article A contract dispute, a lawsuit from a customer, an employee filing an ADA complaint — these are a few of the legal issues you could face as a small business owner. Then there are the more routine matters, like forming a new LLC or putting together a commercial lease.
You need to consider all the things that might impact on your business from the outside. For example, major trend s, international changes, technology impacts, regulations that mi ght change etc.
It provides an overview of what you see the best parts of your business are and the worst parts. Describe below the strengths of your business such as what gives your business a competitive edge over the competition. Outline the weaknesses of your business.
You need to identify these so you can overcome them.
Wea kne sses could include lack of capital and re sources, lack of skilled or trained staf f, vulnerability to competition, poor market penetration, poor bu siness systems, etc. What are the major opportunities you se e for your bu siness? For example, exporting opportunities, new market segments, online e-commerce potential, franchising your busine ss model, etc.
What are the possible threats? Threats could be new technol ogy leapfrogging you, changing markets, ne w competitors, external crises, changes to your customer base, etc. Explain below your current distribution chann els. For example, do you market direct to other businesses like many manufacturersor direct to cons umers like retailersor do you use commission salespeople, agents, distributors, etc?
Use of technology Use of technology an d e-commerce. Use this opportunity to explain how you use or plan to use email, a website, e-co mmerce and technology such as improved communications to sp eed up your business, lowe r costs, keep in closer contact with your cu stomers, d rive online sales, access new markets here and overseas, etc.
Business systems Detail below the business and management systems you currently have in place or are planning that will enable you to carry out your business plan and achieve your goals. A good way to run your business is to imagine you are going to sell or franchise your business tomorrow.
What systems would you need to have in place or documented to make that process as si mple and efficient as possible? Just fancy it by voting!When it come to business forms, Print EZ has got it all.
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Free download and easy to re-edit to make custom business forms for PDF and Word format. Jun 20, · How to Write a Basic Business Plan In this Article: Article Summary Determining Your Goals Writing a Business Plan Getting Help Community Q&A No matter your business idea, whether it’s selling jewelry, landscaping or grooming animals, a business plan is a good way to demonstrate the idea’s potential for success.
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