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The Following are key compents of a business plan. We will discuss these items on This Sunday's shoe January 27, 2008 at 10am tune in. We will also be giving away a free weekend get away trip this Sunday so don't miss this broadcast!

Business Plan

Cover Page and Table of Contents

Executive Summary

Business Description

Marketing Plan

Operating and Management Plan

Financial Plan

Appendix 

 Also you should have the following qualities.

10 QUALITIES THAT ENTREPRENUERS SHOULD POSSESS

1. LEADERSHIP SKILLS.  It’s one thing to be a good manager, but another to be a strong leader.  Managers know how to do things right, but leaders always do the right things. As an entrepreneur, you will be called on to do both.  You will have to solve a myriad of problems, both big and small. Your employees will look to you for guidance and direction on how to grow the business and you must be able to deliver.  If you feel more comfortable having others tell you what to do, entrepreneurship is not for you.
2. BUSINESS EXPERIENCE.  Whether it’s in bookkeeping, market research, advertising, or customer service, most soon-to-be entrepreneurs have some knowledge about what it takes to start a business, and some experience in the field they hope to enter.  If you have neither, don’t panic.  Having business experience is not a prerequisite to starting your own company.  To compensate for any skills you lack, with professional consultants about particular issues, or volunteer to work at an existing business in your chosen field.
3. A SACRIFICIAL ATTITUDE.  One of the first things that you will be forced to give up, particularly during the fledgling years of the business, is the 9-to-5, Monday-through-Friday work schedule.  Becoming an entrepreneur can require working ten to twelve hours, seven days a week.   You could also end up working on holidays (particularly if your business is in the retail industry).   So say goodbye to much of your free time, as well as those coveted three-week vacations you had grown accustomed to.  You will also have to sacrifice a regular paycheck.  Many business professional advise paying yourself first, but this may not be the best move.  You employees and suppliers are important to the survival of your business.  Without them, you would not have a business, so you may want to pay them first.
4. STRON INTERPERSONAL SKILLS.  As an entrepreneur you will have to deal with customer, employees, suppliers, accountants, lawyers, advertising executives, technicians-the list goes on and on.  To be successful in business, you must be able to work with a variety of people and personalities.
5. INTELLIGENCE.  Forget about what you scored on your SATs and business college entrance exams.  To be a successful entrepreneur, you will need more than just “book smarts.”  You will need good old-fashioned “street smarts” and common sense.  Successful entrepreneurs can effectively deal with real-world business experiences.  They can foresee problems before they occur an have the ability to devise workable solutions.
6. STRONG MANAGEMENT SKILS.  You will have to manage a series relationship with your banker, client, customers, and any family members who may decide to join you in running the business.  However, one of your most important managerial duties is overseeing your employees.  Can you deal with firing as well as hiring workers?  Are you able to handle reprimanding staff when they are consistently late, or are stealing from the company, or are insubordinate?  If you cannot deal with personnel problems, are you comfortable with assigning the authority to someone else?  Successful entrepreneurs can control employee-employer relationships and delegate authority where needed.
7. GOOD ORGANIZATIONAL SKILLS.  When you start you own business, organization is essential.  You must keep track of everything that goes on in you operation, or face doom.  Don’t get caught beneath a stack of papers a mil high when Uncle Sam comes calling.
8. COMPETITIVE ATTITUDE.  No matter what type of business you start, you’re bound to face competition, either directly or indirectly.  You can’t give up when several similar stores open just a few miles away.  You have to come out fighting and find ways to promote your product or service as the best, not one of the best.
9. HIGH ENERGY AND OPTIMISM.  Starting you won business requires long hours and a lot of hard work, so you must be energetic.  People who are starting a business while they are maintaining a full-time job must develop ways to muster a few extra ounces of strength.  If you find yourself getting run down, look into changing you diet or starting an exercise program.  Successful entrepreneurs are upbeat and always able to go that extra mile.
10. SELF-CONFIDENCE.  Many people make the mistake of starting a particular type of business only because of its profit potential.  You must like and believe in what you’re doing, or it will be impossible to convince customers and other clients to use your product or service.  If you don’t like kids, don’t start a toy store.  If you can’t stand working around food, don’t open a restaurant.  Make sure that you have a passion for your business.