Business Plan- Why You Need to Write One

If you have a business and want it to succeed, you need to have a business plan.  It’s as simple as that. A business plan is a document that outlines your business goals and the plan for achieving them. Even if you are working from the kitchen table, you still need a business plan.  A business plan can help you do the following: 

  • Define your business and set goals
  • Create a plan of action
  • Develop your brand
  • Organize your marketing efforts
  • Keep you focused on your business 

When it comes to developing your business, writing out your business plan will help you sort out your ideas and make it easier to identify which ones make the most sense. This will be a great thing when you start coming up with so many business ideas that you get overwhelmed. Your business plan will keep you on track.   

Your business can’t do everything for everyone. Without a business plan you might forget that point. Writing your business plan will let you narrow down which products and services you are going to offer, as well as help you decide which target market to offer them to. 

For example, if you are a professional events planner, you can choose to target market your business to other local businesses and offer to help them organize and put on events to market their businesses.You can market yourself to local residential busiensses and families to help them organize all types of events.. 

You can also market your business online and create online seminars or teleconferences or information products and people can learn from you long distance. Once you have determined who your target market is and how your business is going to help them, you will need to write out your goals and determine your plan of action in achieving them.  

Your business brand will help you achieve recognition among your target market and set you apart from the competition.  Some people can really struggle with determining their brand, and unfortunately, never create one.  Having a business plan will help you create a “big picture” idea of your business.  When you see the big picture, you can determine how you want your customers to see you. 

As you know, there are many different ways to market your business.  Another benefit to having a business plan and being able to see the “big picture” is being able to organize your marketing efforts. 

Your business plan will help you decide how you want to promote your business.  Some examples include marketing to local customers or taking your business global and marketing online.  

Finally, your business plan can keep you focused on your business and your goals.  If someone approaches you about a joint venture project or if you have an idea for a solo project, you can look at your business plan and see if that is something that would enhance your business. By now, it should be pretty obvious that writing a business plan is worth the effort.

Business License: The In’s and Out’s of Getting One

Apply for Your Business License

Applying for a business license is something you should do as soon after you decide to start your business as possible.  There are different requirements for getting a business license at the federal, state/city and county levels.  Each location is different in those requirements and there are even some locations that may not require you to have a business license, but you need to determine what your business requires by following and completing the steps below. 

Find loads of information on starting your business, including applying for a business license by visiting the Small Business Administration (http://www.sba.gov).   

There you will find links to help you determine, what if any licensing requirements there are for your business.  You’ll be able to determine what type of license your business requires based on the type of business you own.  Just a few of the common licenses include: 

Basic Business License

This is a basic business license that says you are allowed by law to do business in your locality.  Some places require it, others don’t so be sure to check with your local and state taxing authorities to determine your individual case. 

Occupational & Professional License

There are certain professions that require you to carry a special license in order to conduct business.  Some of these businesses include:  

  • Accountants
  • Doctors
  • Barbers
  • Security
  • Professionals
  • Real Estate Agents 
  • Licensing Based On the Type of Products You Sell 

Tax Registration

One of the biggest reasons a business license is required is for tax purposes.  The type of business you run, along with other factors, will determine your tax rates at the state and federal level.  It will also help to determine certain taxes, such as sales tax, etc. that you may be exempt from paying. 

Trade or Doing Business As (DBA) Name

Many states require a special license if you are a sole proprietor doing business under a name other than your name. 

Employer Registration

If you have, or plan to in have in the future, employees this is definitely a must to check into.  You can find more information about what all is required of you as an employer by checking with your states Department of Revenue or Labor. 

A business license is something that, if you’re required to have one, you should acquire as soon as possible.  Some states can and will penalize business owners who operate a business without the proper license, so don’t delay in finding out what your business needs.  Many states have business workshops to help make certain owners have everything they need in place.  Check your state or http://www.sba.gov to find one near you.

Start Writing

Writers write is a saying most writers recognize. “Doing” writing is the part that takes discipline. Writers need to write everyday in order to hone their craft. Daily writing also helps to crack through writers block.

You don’t have to have writer’s block. You WILL have writer’s block if you don’t write everyday. This is the coaching blog for creative baby boomers who write. It is for those of you that follow my creativity coaching.

What You’ll Find Here
You will find writing prompts, exercises, and my responses to my daily writings. Follow my thoughts as creativity coach as I blog my writing experiences. I am commited to writing daily. Write along with me in your own forum and create your legacy in words.