6. Next Steps

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Why the quiz/business plan is important for first-time entrepreneurs:

  1. To Help You Think Through Your Business Idea: The quiz and business plan will ask you questions about your business idea, including what problem your product or service solves, who your target market is, and how you plan to make money. By answering these questions, you will gain a deeper understanding of your business and what it will take to make it successful.
  2. To Create a Roadmap for Your Business: Your business plan will serve as a roadmap for your business. It will outline your goals, strategies, and tactics for achieving success. By creating a plan, you will have a clear idea of what steps you need to take to turn your business idea into a reality.
  3. To Communicate Your Vision to Others: If you ever need to pitch your business idea to investors, partners, or customers, having a well-crafted business plan will be essential. It will help you communicate your vision, mission, and strategy in a clear and compelling way.
  4. To Track Your Progress: Once you launch your business, your business plan will help you track your progress and make adjustments as needed. By regularly reviewing your plan and updating it based on new information and feedback, you can stay on track and achieve your goals.
  5. To Increase Your Chances of Success: Studies have shown that entrepreneurs who create a business plan are more likely to succeed than those who do not. By taking the time to think through your business idea and create a plan, you are setting yourself up for success.
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Course Content

Creating an action plan
A well defined action plan should include: A detailed description of what needs to be accomplished The small steps that need to be taken (and in what order) Who is involved and their specific responsibilities Deadlines and milestones - when tasks have to be completed Resourced you may need Here are some questions to help you get started:  Is there anything preventing you from growing or strengthening your business?  What is a small step you can take today? What is something you can do this week? You have a lot to do. What can wait? What needs to be done today? An action plan can be used for all your goals, from daily tasks to what you want to accomplish in 5 years. One way to plan out your next steps is by creating S.M.A.R.T. Goals.  S.M.A.R.T. GOALS Smart goals are helpful because they help you track your progress toward achieving your objectives. S.M.A.R.T. goals are:  Specific: Simplistically written and clearly define what you are going to do. For example: I want to launch my own catering company. Measurable: Can be tracked in a tangible way . For example: I will take on my first catering client.  Achievable: Should challenge you, but be realistic and defined well enough so that it is possible for you to  achieve them. For example: I will ask my friends and family for referrals.  Relevant: Useful for getting you to where you want to go and worth all your efforts. For example: Getting a list of referrals can help me build a potential client list that will bring me more business.  Time-bound: Linked to a timeframe that creates a practical sense of urgency but is also realistic. For example: I will complete a menu and ask for feedback by next Friday. Try this method with multiple goals. Keep yourself accountable as you make your way  through your action plan. 

  • Creating an action plan
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Business Plan Instructions

Business Plan

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