How To Write A Business Plan

Abstract

There are an increasing number of people who are starting their own businesses. So many people are starting up their own businesses, but have no idea what to do or how to do it, which makes a business plan a necessity. There is a huge amount of literature out there on this subject, but it is difficult to find a comprehensive guide. Many businesses fail because of inadequate planning. The Kalamazoo College SBDC attempts to prepare people in all aspects of starting a business. Many people who come in simply have an idea for their business, but haven't put a large amount of planning into it. By making people aware of the difficulties that lay ahead, they are given a better chance at success than those who are unprepared. Many people who start a business don't realize the full extent of what they are getting into, until it is too late. The SBDCs try to alleviate this problem. There is a lot more to running a business than many people think. Of course, it is very difficult for the small business owner to be knowledgeable in every aspect of business. Small Business Development Centers (SBDCs) are subsidized by the government to help small businesses in areas where they lack experience. There is currently a large market for this kind of aid. In working at the Kalamazoo College SBDC, I saw a wide variety of people wanting to start businesses. It always amazes me the new ideas people have. Most clients of the SBDC are people who really didn't know where to begin in starting their own business. In order to better serve our clients the SBDC has a booklet that they distribute to clients, "Plan Your Business" booklet. This booklet basically tells the reader what they need to consider in starting a small business; it gives them a starting point. Because there is so much information on entrepreneurship, it is difficult to find something that the average person can understand and more importantly use. This "Plan Your Business" booklet is such a guide. I decided to base my Senior Individualized Project (SIP) on this booklet, but go more in depth on the topics. Because this booklet is a comprehensive guide, it does not go into the details that many people need, but guides them to other resources for further information. I read a large number of books on entrepreneurship and starting businesses and consolidated that information into my SIP. I began the summer not knowing exactly what I wanted to do with the rest of my life, but had an idea that business consulting might be the right choice for me. This is because I really enjoy the whole realm of business: for example making a company successful and helping companies who are not doing so well get back on their feet. The methods and processes of cutting cost and becoming more economical are especially important to a healthy business and fascinating to me. I also found that I am interested in everything it takes to start a business and keep that business running smoothly. Currently, the amount of people opening their own business is increasing every year, which will probably continue for awhile before hitting a plateau. But as of now it is a growing market, which is why it is such a good market to get into. As long as companies continue to downsize and large companies continue to be cumbersome, uneconomical, and wasteful entrepreneurship will continue to flourish.