Start in the Right Direction _ Many entrepreneurs think that they can start out without doing a lot of planning and research. They feel that they can always pick up a feel for the business as they go. However, some of the early decisions that you make in the life of your business can be difficult to reverse at a later date. You need to have a clear path set out ahead of you so that you can make the right decisions about how to set up the business right from the start.
One must write a plan staying along the lines of traditional business plan format. Creative thinking is always appreciable, but to make yourself look more professional you must go with the guide of a tested business plan template. This may organize the plan into a well structured data and document. One must clearly state and define the main purpose of the business plan. Similar to the identification of the goals of business, the writer must identify and specify the goals of the written business plan. It will help to secure the financial backing from the investors. Once the plan is ready for the inauguration of the business, the businessman should decide his priority. These priorities will make the success in business easier. The main contents of writing a business plan are : Cover sheet Statement of purpose _ Table of content _ The business _Description of business _Marketing _Competition _Operating procedure _Business insurance _ Financial data