Pre-Planning Your Business Idea
If youāre thinking of setting up a business, you should do enough pre-planning, but not too much!
The real key to pre-planning is to do enough to ensure that the idea is sound, be clear on what you are going to do, how you are going to do it and how quickly you will act. First convince yourself that you have a viable concept, aĀ strong businessĀ and the determination to see things through!
Test your pre-planning business model
It is a great idea to have people to test your initial thoughts against, people who have succeeded in writing successfulĀ business plansĀ and then launching and operating against them.
An experienced eye will spot the āover ambitious planā or any misconceptions in that all importantĀ cash flow plan.
Here at Yorkshire Powerhouse, we encourage you to ādo a planā, āhalf the salesā, ādouble the timeā, ātreble the costsā and then check if you can survive! It is a real sound approach and oneĀ based on the actual reality of running a business ā too many new start businesses fail because they simply ignored warning signs or potential issues at this stage.
Within this āpre-planning sectionā you can find out more onĀ your business idea, whether you areĀ suitable to be an entrepreneur, how toĀ seek out supportĀ and how toĀ check and research the market.
Remember to take advantage of our FREE business plan templates and subscribe to our newsletter to keep informed and up to date.
Create a one page business plan in pictures more than words, itāll tell a story youāll come back to. If you canāt get it all on one page youāre over thinking at this stage!
Pre-planning thoughts from Yorkshire Powerhouse
Have you any questions?
Here at Yorkshire Powerhouse, weāre happy to help as much as possible ā is there anything else we can do to help you, do you have any further questions or can we help introduce you to an expert ā please let us know:
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