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As you develop your Summary you will naturally focus on the issues that contribute most to potential success.If your concept is too fuzzy, too broad, or too complicated, go back and start again.A joint venture is a formal agreement to share the work--and share the revenue and profit.
Let your excitement for your idea and your business shine through.
Blue Mountain Cycle Rentals will offer road and mountain bike rentals in a strategic location directly adjacent to an entrance to the George Washington National Forest.
For many entrepreneurs, developing a business plan is the first step in the process of deciding whether to actually start a business.
Determining if an idea fails on paper can help a prospective founder avoid wasting time and money on a business with no realistic hope of success.
Our primary strategy is to develop Blue Mountain Cycle Rentals as the most convenient and cost-effective rental alternative for the thousands of visitors who flock to the area each year.
Once underway we will expand our scope and take advantage of high-margin new equipment sales and leverage our existing labor force to sell and service those products.Does a business plan make startup success inevitable? But great planning often means the difference between success and failure.Where your entrepreneurial dreams are concerned, you should do everything possible to set the stage for success. That's because many aspiring entrepreneurs see a business plan as simply a tool--filled with strategies and projections and hyperbole--that will convince lenders or investors the business makes sense.So a solid business plan should be a blueprint for a successful business.It should flesh out strategic plans, develop marketing and sales plans, create the foundation for smooth operations, and maybe--just maybe--convince a lender or investor to jump on board.Maybe establishing a storefront for your operation isn't as cost-effective as taking your products directly to customers--not only will your operating costs be lower, but you can charge a premium since you provide additional customer convenience. Successful businesses identify opportunities and challenges and react accordingly.Creating a business plan lets you spot opportunities and challenges without risk.Think of it as a written elevator pitch (with more detail, of course).Your Summary describes the highlights of your plan, includes only the most critical points, and leaves out less important issues and factors.After you objectively evaluate your capital needs, products or services, competition, marketing plans, and potential to make a profit, you'll have a much better grasp on your chances for success.If you need seed money from a bank or friends and relatives, your business plan can help you make a great case. Financial projections describe where you plan to go.