You've caught the entrepreneurial bug and you're
chompin' at the bit to start your own business. You
want to meet new challenges, solve new problems and
do things your own way. You want to take personal
responsibility for your own successes and failures.
Corporate bureaucracy bogs you down. You believe you
are ready to start your own business.
You couldn't have picked a better time. Small business success rates are
climbing-perhaps because more people than ever before are starting small
businesses. The competition is tough, but some comfort should be gained by
knowing that you are in good company. The entrepreneurial spirit seems to be
contagious.
Before you jump off the cliff of security into the abyss of uncertainty there
are quite a few things to consider, however. Starting a small business isn't
just about changing careers; it's about changing your lifestyle and attitudes.
Not everyone is cut out for it.
Before you start, consider what kind of person you are, what are your
personal and career goals and whether you're suited for the uncertainties, the
stresses and ultimately the rewards of an entrepreneurial life.
Some questions to ask yourself include: Am I a self starter? How well do I
plan and organize? How good am I at making decisions? Do I have the physical and
emotional stamina to run a business? Can I work long, odd hours? Is my drive
strong enough to maintain motivation? How will the business affect my family?
If you think these are just "touchy-feely" sorts of issues, guess again. The
answers you give to these questions are vital to deciding if you are cut out to
own and manage your own business.
If you've decided you are the right kind of person to run your own business,
the next step is determining what type of business you want to own. If you
haven't already done that, consider your interests. The best business for you is
usually the one in which you are most interested.
You've caught the entrepreneurial bug and you're chompin' at the bit to start
your own business. You want to meet new challenges, solve new problems and do
things your own way. You want to take personal responsibility for your own
successes and failures. Corporate bureaucracy bogs you down. You believe you are
ready to start your own business.
You couldn't have picked a better time. Small business success rates are
climbing-perhaps because more people than ever before are starting small
businesses. The competition is tough, but some comfort should be gained by
knowing that you are in good company. The entrepreneurial spirit seems to be
contagious.
Before you jump off the cliff of security into the abyss of uncertainty there
are quite a few things to consider, however. Starting a small business isn't
just about changing careers; it's about changing your lifestyle and attitudes.
Not everyone is cut out for it.
Before you start, consider what kind of person you are, what are your
personal and career goals and whether you're suited for the uncertainties, the
stresses and ultimately the rewards of an entrepreneurial life.
Some questions to ask yourself include: Am I a self starter? How well do I
plan and organize? How good am I at making decisions? Do I have the physical and
emotional stamina to run a business? Can I work long, odd hours? Is my drive
strong enough to maintain motivation? How will the business affect my family?
If you think these are just "touchy-feely" sorts of issues, guess again. The
answers you give to these questions are vital to deciding if you are cut out to
own and manage your own business.
If you've decided you are the right kind of person to run your own business,
the next step is determining what type of business you want to own. If you
haven't already done that, consider your interests. The best business for you is
usually the one in which you are most interested.
W e've already discussed the many components of a good business plan:
background, description, projections and analyses, to name a few. Business- plan
software aides the entrepreneur in this information- gathering and
organizational process. A common approach is to use software that offers sets of
templates for your word processor and spreadsheet programs.
The best incarnations of these types of products are compatible with nearly
all available word processors and spreadsheets. By working with such products as
Microsoft Word and Excel (or Corel WordPerfect and Lotus Qualtro Pro), they're
very capable of producing high-quality business plans.
Another approach involves programs that actively guide you, prompt you for
information each step of the way, ask questions and give example data from
imaginary companies.
Below are just a few of the many commercial and shareware products available.
A quick search of the Web will yield additional products for your consideration.
And be sure to check out the software library on the SBA Web site
(http://www.sbaonline. sba.gov) too.
One of the best of the template- based business plan generators, Jian's
BizPlanBuilder offers a set of fill-in-the-blank files designed to work with
virtually any DOS, Windows or Macintosh word processor or spreadsheet.
You simply deposit BizPlanBuilder's text files and spreadsheet templates into
the directory of your choice and open them with the appropriate word processor
or spreadsheet program. The product's detailed manual gives you a good sense of
which documents you need to complete. Each document contains descriptions of
what's required. You also can use sample paragraphs as models for your own
specific text.
If you want something more than BizPlanBuilder's templates check out Palo
Alto's Business Plan Pro which many people consider to be the best tool
available.
Fire up Business Plan Pro, and follow a step-by-step guide, beginning with
the text portion of your plan and moving into financial analysis. You can enter
numbers into tables for break-even analysis, cash flow and other variables,
replacing the supplied boilerplate data. When you're finished, the program turns
your figures into informative charts that you can drop into your plan document
or export as BMP or WMF images.
Given its thoroughness and tools, Business Plan Pro is one of the premiere
business-plan software packages available today.
A good example of the many business-plan packages available as shareware is
Versatile Software Solutions' Business Plan Master. Its templates work with Word
for Windows, WordPerfect for Windows, Excel, and Lotus 1-2-3 to provide the
basic files required for processing a credible business plan. It provides less
guidance, however, than other packages in this field.- D.F.
