Whether you've recently embarked on a new business venture or are just considering the possibilities, it is important to know your options, establish good business habits, and chart a course for where you want your business to go. The SBDC can help the aspiring or new business owner plan for success in three ways:

• Seminars & Workshops
• Confidential Business Consulting
• Resource Center and Information Requests

For more information on the services we provide, click on the links above. For more on starting your new venture, continue reading below.
Starting a business is more of a process than anything else. The process involves many steps which often include (but are not limited to) the following:

• Self Assessment
• Research
• Planning
• Financing

The end product of these steps results in the business plan - the roadmap for your operation - which is used to communicate your business.

Start-up Process

The process has to begin with you. Perform a self-assessment, which includes the following questions. Answer them honestly.

1. What are your talents?
2. What do you like to do?
3. What experience do you have?
4. What are your interests?
5. Do you have managerial skills?
6. Are you a decision-maker?
7. What is your energy level?
8. Are you a self-starter?
9. Are you self motivated?
10. Are you willing to take risks?
11. What is your financial situation?

Research

The next step is research. Again, just a few of the questions that you need to answer include:

1. Is there a need for my idea?
2. Who is the competition?
3. What can I do better than my competition?
4. Who is my customer?
5. Is there room in the market place for me?
6. Are there legal restrictions?
7. Where will I locate the business?
8. Will I need financing?
9. What legal form of operation should I choose?
10. What taxes will I owe?
11. How much money will I need (start-up and on-going)?
12. What are the employee needs?
13. What price will I charge?
14. How do I locate my suppliers?
15. What will my equipment needs be?
16. Can I make money with my idea?
17. What will I name my business?
18. Can I make a living from my business?
19. What type of records do I need to keep?
20. Who can help me get started?

Business Planning

The results of your research and setting your personal and business goals will lay the foundation for developing your business plan. The business plan spells out the actions and means (strategies) you will use to achieve your business goals. The business plan should include a check system for you to measure whether or not you are meeting your goals and what changes you might need to make along the way.

Business plan outlines are available from many different sources. Many outlines are organized differently; however, most include the same basic information. This link includes a sample business plan outline provided by this U.S. Small Business Administration. We have many others we are happy to share with you. We could also show you examples of what a business plan might look like when completed. We have the Business Plan Pro software in our resource center. You are free to use the software to work on your business plan.

One word of caution: Many people think a business plan can be completed in a few days. A sound business plan cannot. Allow reasonable time to plan before you invest any money in your idea. Check our training schedule for the next "How to Write a Business Plan" workshop. A business plan is mandatory for a business loan. Your business plan has to prove financial feasibility.

When you approach the planning process correctly, the business plan becomes the operating guide for your business. It gives you guidelines for how your business will be operated, funded and managed. Your business plan will be required if you need outside financing. Meeting with a potential lender or investor without a business plan shows that you are not prepared to do business. The first thing they will want you to provide is your business plan.

• ASBDC New Venture Guide
• ASBDC Feasibility Workbook 
• BizFacts: Small Business Information
• Helpful Links