BabeofBusiness.com

I have thrown the term niche market around quite a bit in recent weeks.  Well today I received an e-mail asking what exactly a niche market was.  So first, let me apologize for not explaining sooner.  Here is your word of the week:
A niche market is a smaller, more targeted segment of a larger market.  [...]

Read Full Post »

There are a number of mistakes that entrepreneurs and business owners make when crafting their business plans. The most common are spelling and grammatical errors that reflect poorly upon all parties involved in the creation of the plan.Next, are exaggerated financial projections and inflated market assumptions. Not everyone living in the United States will be [...]

Read Full Post »

Do you have a great business or marketing idea that has proven to be very effective?  Would you be willing to share it with other entrepreneurs?  If so, please post it here in the comments section.  Your time and efforts are very appreciated…

Read Full Post »

Bah, humbug!  That’s right.  In the spirit of the season, down with free business plan templates! Listen, no two business plans are alike.  So you can’t fill in the blanks or simply cut and paste from an existing plan.  If you even think you can pull this off, be ready to fail…miserably.
While I don’t recommend using [...]

Read Full Post »

The benefits of having a business plan include:

Helping you to clarify your vision and deciding whether or not to forge ahead with the idea;
Determining if your product and/or service has a sufficient market to support it and whether or not it will be profitable;
Providing an estimate of your start-up costs and how much you’ll need [...]

Read Full Post »

I’ve worked with hundreds of entrepreneurs and can’t begin to count the number of times I’ve been asked, “So, Why do I need a business plan?” Well, let’s put it this way. Do you want a successful business? Because, developing a well-thought-out and organized business plan dramatically increases your odds of succeeding as an entrepreneur. [...]

Read Full Post »

There is a mountain of evidence to suggest that people who plan are more successful. Plans aren’t always followed, but people armed with a plan are usually better off. The same is true in the world of business. You need to have a plan to understand where you are today to get where you would [...]

Read Full Post »

New businesses share a lot in common.  They are new, they are businesses and they are usually operating on a shoestring.  But the last area that you want to nix from your budget is marketing.  This is an absolutely critical activity, which doesn’t need to break the bank to be effective.  Below are some proven, [...]

Read Full Post »

At one point or another, we have all dreamed the big dream…the dream of starting a business!  But before taking the plunge, there are some points and issues to take under consideration.  Ask yourself the following questions:

 Are you in a position to give up your current full or part-time job?  Will you be able to [...]

Read Full Post »

I have spent an inordinate amount of time answering questions related to Business Plans on WikiAnswers (www.wiki.answers.com) to help budding entrepreneurs learn the ins and outs of properly constructing these important documents.  If you have questions about writing a business plan, you might want to check these out:
http://wiki.answers.com/Q/How_should_gaps_in_management_be_addressed_in_a_business_plan
http://wiki.answers.com/Q/How_do_you_find_information_on_your_competitors_for_your_business_plan
http://wiki.answers.com/Q/What_is_a_SWOT_analysis_and_do_you_need_one_in_your_business_plan
http://wiki.answers.com/Q/Should_you_use_business_planning_software_to_create_your_business_plan
http://wiki.answers.com/Q/What_are_the_most_common_mistakes_made_when_developing_a_business_plan

Read Full Post »