Most people consider a business plan as only something a large or formal business needs today, but it isn’t! Anyone in business for themselves and, in reality, many working folk wanting to develop their careers should consider a business plan of their own.

Most only feel a business plan is needed when going into business with someone, or going to the bank to raise finance for a business. This is so untrue because, when all is said and done, a simple business plan is nothing more than a plan or reaffirmation of what you intend doing to achieve your goals in a business.

Business plans need not be a complicated document that only your accountant or a business administrator can put together. It should rather be an outline of what kind of business you want to create and how you plan to create it. If one thinks about that statement, then you will most likely agree that this could really apply to almost anyone’s life too.

However, let’s stick with creating a business plan for any small business and then consider applying it to other areas of your life. A typical business plan would consist of a basic skeleton that could be used as the outline to any other type of plan, such as your own ‘career plan’ and would cover these main points:

1. A summary of your potential business, which could be broken down into the following areas: its objectives, its mission and what will make up its main elements to succeed.

2. A company summary – what you have achieved or know you can offer.

3. Your services or products.

4. Analysis of the potential market in summary form.

5. A summary of your strategy and how you intend to implement it.

6. Management summary – your skills and those involved with you in implementing the plan.

7. Financial Plan – what will be needed in the way of capital to put all this into practice.

Now all you have to do is add the meat to that skeleton and you have a working business plan. Once you have created your business plan then you will be able to go over it in detail and see if, or where, your main weaknesses lie in the plan. If you are not an expert in any of the fields covered above, then talk to someone who knows about that area. For example, discuss the financials with an accountant and the people involved in the financial side of your life.

Once you have the business plan and you (and all the important players) are happy with it, then all you have to do is break down the plan into smaller achievable bits and implement those bits. If you refer to your business plan on a regular basis and continually check you are achieving your targets, then you should reach your goal.

However, if you are not achieving your targets and goals along the way then it is time to revisit the plan and see where you are coming up short – or if you must ‘re-plan’ or call in help on a certain point or in a weak area. This is where your business plan becomes your lifeline. If you need additional capital for example, it is easier going to a bank with an existing business plan and explaining why you need additional funding. You also should then be in a position to show them what you are going to do to solve this problem so that it does not happen in the future.

If you look at the basic outline of the business plan we have given you here, then you will see this could be applied to all kinds of situations in your life – like career plans and goals – and not only as a basic business plan.

7 top reasons often given for not writing a business plan.

1. Written plans are only for big companies

2. I am in control of my business and do not need a plan

3. I do not have the time to waste on such luxuries

4. I can always do one next year

5. My bank has never asked for one

6. I will only need one plan if I want to attract external investors

7. The business is too small to need one

There are so many aspects of trying to develop your own Internet marketing business plan that it is amazing to me that so many people think this should be easy. This idea is obviously a farce. Never forget, and if you didn’t know this, remember that you heard it here first, business is competition. That means that there has to be winners and losers. The sad truth is that vast majority of people who try, loose time money, and sometimes a lot more.

So, how do you win at this game? Pay close attention, this may not be the answer you expect, but the answer is,,, choose the right team. That’s right, business is a team sport. This is one, and I mean just one, of the reasons that so many people fail: because they don’t know that business is a team sport and they try to do too much of it by themselves. Confused? Don’t be, there are a few people that are genius enough to come up with something so original or so foresighted that they blaze a whole new path, but the rest of us we just need to copy what is working best, and partner up with the right group of people to pull together the pieces to build a successful business.

Oh yeah, sounds easy right? I know, I know, now I am a really being confusing. Here is the whole point. There is no way that you can know, do, or even think about everything you need to build a successful Internet home based business by yourself. So the key is for you to first do a thorough and honest self evaluation to get an accurate assessment of your strengths and weaknesses. Then you write down exactly what it is you are trying to accomplish with your business. And here is the most important part, then you start pick your team.

Here is a possible example, first you align yourself with a person who has already accomplished what you want to accomplish. Then you let that person help you lay out a game plan. After you start to pick more teammates who can help you do the things you don’t know how to do, or you pick teammates that can help you learn the things that you don’t know how to do. The bottom line is that the person that wins is the person who picks the best team with the right balance of everything to make the whole.

This won’t be easy, and you may have to pick a lot people before you find just the right people. You may even find yourself being chosen to be part of someone else’s team. This is a great way to learn what that right combination of things is, or might look like. Let me just close by saying that you are only a looser if you quite. What I mean is that everything you try is a learning experience that brings you closer to learning the right balance to build your winning team.

Plan your work, and work your plan. I used to think that was bunk…that is before I became successful! If you’re going to succeed at anything in life, you need a plan. If you’re going to succeed at internet marketing, you really need a plan!

Everyone wants money! Everyone wants to be rich!

One time a few years ago, my wife and I were eating breakfast in a restaurant in the Hyatt Regency in Savannah, Georgia. The restaurant overlooks the Savannah river from a height of about two or three stories. Our table was right next to the floor to ceiling plate glass outside window, which gave us a great view of the river.

There was a large yacht moored just below us. This was not just a big boat, but a true yacht. It had a crew of more than one person. The owner (I guess he was the owner) was puttering around on deck. His wife (girlfriend, maybe?) was sunning herself in a bikini on one of the back decks.

My wife was a little peeved at that part!

But anyway…

What interested me the most was the reaction of the other folks in the restaurant. Without exception, everyone who was near the window was staring at the yacht–drooling.

This was before I found out how to really make money online! I mean I was doing okay, I just wasn’t the super-successful internet entrepreneur I am now.

So, I guess I was doing a little drooling myself.

I wonder how many of those people in that room who were drooling at the yacht qualitatively increased their income over the next few years. By “qualitatively” I don’t mean make a few thousand extra, but put themselves in a whole new income bracket.

I did! And I did it through internet marketing.

But I didn’t just do it by drooling–in other words, I didn’t just wish for more money. As I learned about how to make money on the Internet, I made a plan. And I followed that plan, which lead to success.

So, what should your internet business plan be?

What are your dreams? What are you drooling over? What keeps you up at night? What were your dreams when you were a kid?

Your plan must start with a dream, a real dream that motivates you to the core. Let me give you an example.

What motivates me is taking care of my family. What motivates me is being able to work outside on my deck in my underwear. (I’ve actually done this!!) What motivates me is taking my family on great vacations.

What motivates you?

It’s not going to be the same as what motivates me.

You have to get right to the heart of who you are and what motivates you, only then can you make a business plan that will work!

Once you understand your dream, you have to turn it into reality. That means you have to spend time or money or both learning about internet marketing. At some point you will know enough about a particular method to be able to predict your outcome with certain inputs.

Some people are so overwhelmed by the possibilities that they jump into one business and find that there might be a better business out there. You can waste a lot of time, money, and effort poking around various potentially profitable businesses when you could be building it.

There are a few basic rules for finding the profitable online business that you have been looking for. First, if there is a product involved you have to believe that it is a sellable product that is backed with quality. It’s hard to build up any business if you aren’t convinced that the product is reasonable.

Second, you need to be able to have access to someone else’s success. Most internet businesses are built the same way, but without access to the information you are left to your own devices. Step by step guidance and direct assistance is a vital step in creating an income online that you can count on.

Longevity of the business is also important. Niche marketing is great for moving your income forward quickly. Longevity comes from being able to implement the repetitive concepts for building one niche and using it for another niche. If you’re not into niche marketing, will you be able to count on the business for a long time to come? You can’t foresee the future, but you can make logical assessments.

One of the most important aspects of building a profitable online business is you. There are a lot of promises that many marketing plans can make to you. No marketing plan will be suspect if you are not willing to work at it. Businesses don’t build by themselves. Your commitment level is the key to creating a real, viable business that you can count on for long term income.

You are not alone in your search for a profitable online business. When you find a business that matches your criteria and gives you the chance to break ahead of the pack, sinking your teeth in on it is the only way to go. If you want to change something about your life, you are going to have make changes in the way you’re living your life. More money can come from the right home business opportunity.

I just love simple. Don’t you. I’m not talking about those simple get rich quick schemes built in to a so-called business plan. I am talking about a simple online business plan that will give you the full details of the necessary step by step instructions.

I have known degree physicists that have previously failed on the Internet because they thought a good online business plan had to be more than simple. I have seen people with 6th grade educations become successful when all they followed was a simple online business plan that is easy to read and follow.

Below I give you 5 major steps that are part of any successful simple online business plan. A simple online business plan that keeps you at a realistic pace so time of completion is not the important factor. What is important is the thorough completion of each step so your business success is assured.

Some of the steps in my simple business plan may seem not even to be part of a true business plan. But with 10 years experience on the Internet each step has worked for me.

Outline of the Simple Online Business Plan Steps

1. Sit down in front of your computer. Bare with me on this one. You are looking at your monitor. Ask yourself this question: can you be focused enough that when you are at your computer (whether it be an hour or 8 hours a day) you will be 100% focused on business. I am not talking about those occasional family or friend interruptions. I am talking about playing solitaire or surfing the net.

2. Decide what you want to sell. This applies to both the new online business person as well as those who have been online for a while. You may have an idea for a product. Or you may decide to sell someone else’s product(s). The next step is to do research to find out if people are buying the same or similar product on the Internet. Or you will definitely need to find a source that has already found the successful markets (niche) on the Internet and can provide you with a proven formula to determine whether or not any product can be successfully promoted. Side note: If you have an idea, before you go running around asking people’s opinion do what I tell people who call or email me to get my opinion about their ideas. Write down your idea on a piece of paper. If you have photos or a drawing of it , that’s great. Then mail the idea description and anything else to yourself. Keep the envelop sealed. This will help you prove it was your idea if anyone tries to steal it.

3. Decide on a domain name and web hosting. Skip free hosting services. They have more drawbacks than I can write in this short article. Here are a few drawbacks: they have other people’s advertising when someone visits your site, pop up and pop under advertising, reliability of up time on the Internet, and are not popular with search engines.

4. Setting up how you are going to sell your product.. Most hosting services offer what they call a cPanel. Included will be a service called Fantastico that offers such things as free shopping carts, guest books, free blog software, and more. Then decide if you want to apply for a merchant account to accept credit cards. Or you could find many services on the Internet that will offer to process the credit cards for you for a fee. Make sure you investigate at least 8 of these services. You will find the service fees vary widely.

5. Get a proven and thorough simple online business plan. I am not talking about one that is specifically listed as designed for the type of business you plan on starting. And I am not talking about one that is complicated. Remember the title of this article: “Simple Online Business Plans”. You want a business plan that comes with manual(s), both video and audio discs (so you can listen while you drive). Look for a business plan that gives you the option of hard copy (as I call it) shipped to you or for a less cost an area where you can download everything and print and copy to disc yourself. Once you get the business plan make sure it has some type of checklist. A checklist will help keep you focused. A simple online business plan checklist will make sure you follow the steps in the proper order. Proper order completion is a key to your success. This is not picking up a new mystery novel and first reading the last chapter to see who did it.

Do you want to start a business on a small scale?
Pay as you go and not borrow any money?
Basically you want to test the idea out and see if it has potential.
Then why do you need a business plan?
The most important reason is this. If you cannot flesh out the idea and write it down on a sheet of paper, then it’s not a viable business idea, and you should move on to the next project. Notice I did say a sheet of paper. One sheet. Of course you can use two or three but the basic simple business plan should be just that, simple.

You cannot take this plan to the bank and expect to get a loan for your business. In fact you should not even show it to friends or relatives. This plan is for your eyes only. It is to define your business idea. A simple business plan will give you a starting point that will grow with your business.

Here’s the basic setup that you need to have.

1. The business Name.

That may seem obvious, but give it some serious thought.
Always expect this small business to turn into the next global enterprise and you don’t want to stick it with something that’s hard to spell, or that’s not relevant to the business.

2. The Vision statement.

What is your purpose for starting this business and what do you expect to achieve. Define what the business does.

3. The Objectives.

Define what dollar amount you want to reach in the first year. This is a simple plan so don’t try to do a five year projection at this point. Take the average selling price of your product. This can be a range of products or services, whatever you’re selling. How many sales do you expect to make in a week, call that your base, then multiply the base by 52. Don’t think about how long it may take to get to that base, that’s your first goal. Once you achieve the base goal then all you have to do is repeat it.

4. SWOT – Strengths, Weaknesses, Opportunities, Threats

Identify your strengths and think of ways you can use your strengths to grow your business. The things you know and enjoy doing.
On the other side is your weaknesses, the things you don’t know or don’t enjoy and you may want to hire someone to do it, such as writing a sales letter.
What opportunity are you taking advantage of and what other opportunities may arise once you get going.
Threats can come from competition and from lack of information. Do your research. Who is your competition and how can you improve on what their doing. Do you need a permit or license? Find out now, not after your business gets rolling.

5. Marketing
How are you going to market your product? What type of advertising do you plan to use and how much will it cost?

6. Financials

Setup a spreadsheet with the basics. Your starting cash and a list of your expenses based on the information you gathered going through the steps above. Include a section for your sales and you have a good picture of your cash flow.

This plan is a starting point and is intended to help you define your idea. It will force you to ask yourself the questions you need to ask. It should also help you realize, if you still have more questions than answers that you need to do more research before starting the business. As the business grows use the plan to maintain your focus. Change the plan as you go, refer to it frequently and keep it updated. When you need a full blown business plan, you will have the foundation ready to plug in. I will wish you good luck, but a good plan will guarantee your success.

Simple Business Plan Outline Tips

Follow these simple tips to create a stronger business plan as you outline and write:

Use a Template

Using a template starts you on the right foot, with a standardized order for a business plan which has been vetted by years of use by entrepreneurs and funders. Standing out by creating a new organization system for your plan is a negative way to stand out and will be a distraction. Keep your creativity to your business and marketing ideas. That is where you must prove to funders that you can excel.

Move From Bullet Points to Text

Start the writing process by getting all of your ideas and notes down on paper in bullet point format. If you begin by writing full sentences you may very quickly become hung up on the quality of your writing, which should be the furthest thing from your mind at this stage. Fill the content of each section with your basic ideas in note format at first. Make sure the ideas are sound before writing them as full sentences and paragraphs.

Tesla’s shining debut came despite weakness in the broad market and as other auto stocks were hit by concerns of a global slowdown. Tesla was the top gainer on the Nasdaq on Tuesday, offering hope to other companies mulling initial public offerings but which may have shied away given recent volatility.

Tesla’s closing share price of $23.89 boosted its market capitalization to $2.22 billion, compared with $1.6 billion on Monday night. It is the first initial public offering by an American automaker since Ford’s debut in 1956. The debut comes amid heightened interest in electric cars and as major automakers gear up to launch various types of battery-powered vehicles, including plug-in hybrids.

“They’re competing against both internal combustion engines and alternative fuels like fuel cells, compressed natural gas and things like that,” said Matt Therian, an analyst with Connecticut-based IPO research house Renaissance Capital. “It’s probably too early to say that electric vehicles are definitely going to be the next thing in cars, but if they are I think the potential is huge.” source: reuters.com/article/

Asian stocks, which have slipped nearly 10 percent in the past three months, are on course for their worst quarterly performance since the end of 2008, when global investors fled to safety after the collapse of Lehman Brothers.

The MSCI index of Asia Pacific shares outside Japan dropped 1 percent. Japan’s Nikkei average fell 1.8 percent to a seven-month low after breaking below a key support level. source: reuters.com/article/

U.S. consumer confidence dropped in June after rising for three months, adding to the view the economic recovery is slowing, while home prices unexpectedly climbed in April.

The report Tuesday from The Conference Board, an industry group, showed the drop in confidence came from worries about the labor market which has been one of weakest areas of the U.S. economy.

The group’s index of consumer attitudes fell to 52.9 in June from a downwardly revised 62.7 in May. The June figure was sharply below the median of forecasts from analysts polled by Reuters.

Assessment of the labor market also worsened, with the “jobs hard to get” index rising while the “jobs plentiful” index slipped.

“There remain a lot of questions around the sustainability of economic growth,” said Sean Simko, fixed-income portfolio manager in Oaks, Pennsylvania. source: www.reuters.com/article/

Sales at U.S. retailers unexpectedly fell in May for the first time in eight months, but a jump in consumer sentiment to a near 2-1/2 year high in early June tempered fears of a slowing economic recovery.

The drop in sales reported by the Commerce Department on Friday reflected weak gasoline prices and the end of a home buyer tax credit that had boosted sales of building materials.

Analysts said the underlying trend of steadily advancing consumer spending was intact — despite some recent data that suggested a slowing of the recovery — and there was little risk of the economy slipping back into recession.

“We have placed a double-dip in the U.S. for a long time at 15 percent and that is still where we are. The most likely scenario is the economy continues to grow at a 3-percent pace,” said Michael Strauss, chief economist at Commonfund in Wilton, Connecticut.

Total retail sales dropped 1.2 percent in May after rising 0.6 percent in April. Economists had forecast a May rise of 0.2 percent.

Receipts from building materials suppliers tumbled a record 9.3 percent in May after the expiration of incentives to boost the sale of energy-efficient appliances.

Gasoline prices, which normally rise in May, fell and weighed on the dollar value of sales.

source www.reuters.com/article/

Citibank said it held the event in response to its recent small business survey, which revealed a majority of small business owners are not using social media. The live webcast provided small business owners with an overview of how to use the power of social media to market and expand their business.

source www.smallbusinessnewz.com/topnews

Although not a strong sign of recovery, it’s going in the right direction. It is the best reading since September 2008’s 92.9 index that happened just before the five-point decline in October that started the deterioration in the fourth quarter of 2008. In May, seven of the 10 index categories rose, but job creation and capital expenditure plans barely made gains.

“The performance of the economy is mediocre at best,” said William C. Dunkelberg, NFIB’s chief economist. “Given the extent of the decline over the past two years, pent up demand should be immense, but it is not triggering a rapid pickup in economic activity.”

Nine percent (seasonally adjusted) reported unfilled job openings, down two points and historically very weak.  Over the next three months, 7 percent plan to reduce employment (unchanged), and 14 percent plan to create new jobs (unchanged), yielding a seasonally adjusted net 1 percent of owners planning to create new jobs, two points better than the April reading and positive for the first time in 19 months.

source www.smallbusinessnewz.com/topnews