Before you start, you need to write a business plan, it is very important to do proper research on the entire business process. Only after obtaining a large amount of information should you work on the final business plan. Trying to write a legitimate plan without a great deal of information will make the process that much more difficult.

The exact purpose of a business plan is to create a path that must be followed to achieve business success. If the business requires external financing, then the finished business plan will be the blueprint that will be presented to investors or bankers for approval.

The first thing to find out is exactly what the business will be about. During this stage, it is a good idea to take stock of the skills that the people involved in the business actually have. There may be areas that need to be investigated further before a business can take off.

It is very important to find out exactly what resources are available to the start-up business. If employees are needed, then it is important to realistically estimate the number of people that will actually be required. Many first-time business owners underestimate job requirements, and that fact can put off potential funders.

The feasibility of the overall plan must be carefully examined. Many times, a person can become so passionate about the business idea that they may not realize that it is an unrealistic plan. It is important to make sure that things are not based only on opinions. The real, hard facts about business potential must be obtained through a variety of methods. Seeking the advice of unbiased business people, if possible, should be part of this plan. They may be able to offer advice that will make the planning process more effective.

The market in general and possible future changes should be considered. This is especially important for online businesses. The landscape in this area is constantly changing and it is important that plans are made in the event of a change in the way business is conducted. Planning the reevaluation process in advance will allow the company to adopt a plan if the need arises.

All aspects of the business need to be thought through thoroughly at this pre-planning stage. It is important to think of this as a free thought process phase. Any ideas that can be scrawled should be noted, even if they seem unimportant. After a thorough examination of the entire business process, the process of writing the final business plan can be approached. However, there will be a lot of unnecessary information that will not make it to the final draft. It’s all part of the planning process.