" (Entrepreneur, 2009)

There are seven components to a business plan as follows:

(1) Executive summary;

(2) Business description;

(3) Market strategies;

(4) Competitive analysis;

(5) Design and development plan;

(6) Operations and management plan; and (7) Financial factors. (Entrepreneur, 2009)

It is important that the individual who starts their own business determine their objectives for the business and toward this end a goals and objectives checklist should be formulated asking questions such as: (1) How determined am I to see this succeed? (2) Am I willing to invest my own money and work long hours for no pay, sacrificing personal time and lifestyle, maybe for years? (3) What's going to happen to me if this venture doesn't work out? (4) if it does succeed, how many employees will this company eventually have? (5) What will be its annual revenues in a year? Five years? (6) What will be its...
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