Pen and Paper

We get this question from time to time. Some of our members comment that other websites and tutorials tell them to write up a business plan, but we don’t talk about it. So, let’s talk about it!

Is it necessary to create a business plan? It depends!

Let’s start with what a business plan actually is. A business plan, is a formal statement about your new business. What your goals are, reasons why they are attainable, and your plans for reaching those goals. It serves as a roadmap for your business that you can follow to help you reach your goals.

To get started with your business plan, you ask yourself specific questions like:
Why do you want to start a business?
Why do you want to sell online?
What do you want to sell online?
How do you plan on selling those products?

Don’t ask your friends and family to answer these questions. They can only be answered by you!

Write answers for each of those questions, and then start digging into the details.

For example, the answer to your first question might obviously be: “I want to make money.” But take that and add more details once you really think about it. For example, it could be that you have a fantastic idea & want to sell products that cater to a specific demographic, that you have found is missing and be as detailed as possible.

The last question, how do you plan on selling those products; this is where you would list out your…