Setting up - Creating a Business Plan
One of the critical mistakes that someone starting a new business often makes is failing to write a business plan. A business plan is a document that outlines what will be objective of the business venture and how you intend to meet the objective. Many start ups still do not complete this basic requirement leading frequently to a complication occurring during the setup phase resulting in a business failure.
But it doesn't have to end this way. Writing a business plan is not rocket science, I don't recommend that you write it on a napkin as some business gurus suggest, but instead produce a more comprehensive document that will allow you to measure your success and also demonstrate to other parties (e.g. investors, banks, etc) how you intend to meet your goals.
If you would like to discuss this topic or others related to starting your own business please feel free to contact me for a free, no obligation, meeting.