Sunday, September 20, 2009

Make a Move for Economic Growth

Did you know that the economy grew at 7.4% in the 3rd Quarter of 2009? This growth rate is the fastest since 1984. You would never know it by listening to all the economic malaise these days.

The Dow Jones stock market index is up over 3,000 points since its low of 6,440 in March. Since January, home resales are up over 10% and new home sales are up
over 20%.

We don't need to wait for Washington DC to spend more money on a stimulus to start taking risks again. Risk is what defines entrepreneurship - not excessive risk, yet reasonable risk.

The main reason that our economy contracted was the excessive and bizarre risk-taking in the housing market. Unfortunately, far too many business people have over-reacted by moving to the other extreme on the risk scale.

Thus, the economic fundamentals are now sound. So, let's starting taking normal risks again and get our whole economy moving forward.

Sunday, September 6, 2009

The Importance of a Good Business Plan

Taking the time to prepare a solid business plan is a vital first step in starting or expanding a business. A business plan pulls all the pieces together into one document. This plan will assist your effort to make crucial decisions in the early stages.

Good Plans Include:

Performing demographic research that assist in site selection, marketing investment and strategy. Through the Internet and subscription databases, information can be compiled, which saves money, saves time, and increases your potential for success.

Complete Sections
The three most important areas of business need to be fully developed - operations, marketing, and finance. How will the business manage on a daily basis? What methods will generate sufficient revenue? Does the financial structure make sense?

A business plan is a sales document. It presents a picture of your idea to lenders or investors who will sign a check to generate sufficient capital. By using color, graphs, tables, headings and more, your plan can have an appealing look, which inspires confidence.

Concise, business-oriented writing with solid syntax and grammar shows that you are serious about your business. Work with an experienced writer and see your business plan shine.

You wouldn't take a cross-country road trip without a map. So, don't take on the entrepreneurial journey without a business plan. A good plan will increase your potential for success and minimize your potential for defeat.