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    Planning before Business Setup
    Hello Friends,

    I am planning to start a business but haven't decided to go in which sector, what are some necessary things which needs an appropriate planning before starting up a business.I regularly read newspapers and online business magazine(Outlook Business, Forbes, Business Standards) to keep eye on day to day business trends.


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    focus on your business


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    Select your sector of your interest, knowledge and background. Also look for what business suits your location and conditions.


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    Plan your business before you start it.
    Quote Originally Posted by lilyalvin View Post
    Select your sector of your interest, knowledge and background. Also look for what business suits your location and conditions.
    Business plan is a road map for your business that outlines goals and details on how to achieve the goals.
    Internal business plan choose a right kind of a plan for the business. Focuses almost exclusively on business strategy, milestones, metrics, budgets, and forecasts.
    External business plans, the formal business plan documents, are designed to be read by outsiders to provide information about a business.
    An executive summary should provide a quick overview of the problem your business solves, your solution to the problem, the businessís target market, key financial highlights, and a summary of who does what on the management team.
    The products and services chapter of your business plan delves into the core of what you are trying to achieve.


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    The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan. The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.


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    It depends upon your interest as well as how much you can invest into the business.


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    A good business adviser is also a good idea when starting a business in my opinion.

    Scott Biddick


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    Anyone won't be able to advise you properly regarding a new business setup with knowing all the conditions like where you want to establish that business and your initial investment.


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    I would go with something that you could see yourself using as well. Basically eating your own dog food and using that as a compass for what is successful.


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    Always start with the end first. Reverse engineering! If you need help in planning I could help you!


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