Turning your idea into a business

I’M OFF

It’s an easy way to remember the headings to include in your business plan: Idea, Market, Operations, Financials and Friends.

Idea

What’s your idea?

Market

Who will be your customers or clients? And who is your competition?

Operations

How will you develop the idea, promote it, and provide good customer service?

Financials

Can you earn more than you spend, so that the business makes a profit? Do you need any funds to get started?

Friends

Do you have a support network on hand for when you need business advice? Are there complementary businesses you’ve identified with whom partnerships are a possibility?

Have these as headings in your plan and you’ve taken a big step closer to becoming your own boss.

Source: Contains public sector information licensed under the Open Government Licence v3.0.