Startinga new business is hard work. And, it can be confusing. The MyBiz.AM StartIt! Guide, is a step by step approach logically arranged to gather andorganize information and data concerned with starting up a business.It’s objective is to make this process easier and faster. The outcomeis the business plan.

Thebusiness plan is absolutely necessary in securing loans or investmentsfor a business. But perhaps more importantly, the businesses plan helpsthe entrepreneur know and understand their customers and the businessinside and out. Clearly, long term business success starts with asolid, well thought out and written, business plan.

Thisguide has been adapted from the Meridian Community College Jump Startprogram created by William Hatcher. This guide is the result of 30+years of experience that Mr. Hatcher has invested in helping, primarilymicro-entrepreneurs, get their enterprise idea off the ground andconverting their vision into reality.

TheGuide is divided into two main sections: Creating an Operating Businessand The Financial Plan. These sections are each further divided into 22subsections.

How do I get started and use the Guide Book?

1. First,note that all the sub sections are individual files. You can printthese sub section files out as you want to or you can print the entireGuide Book out at once. You might want to get a binder or folder sothat as you print out and use the Guide Book, you can place the pagesin a single location and stay organized.
2. Itrecommended that the user first glance through all of the sections andsubsections of the Guide Book to get a basic understanding of thecontent and organization.
3. Noticethat much of the information and data gathered in the Creating anOperating Business section plugs directly into the Financial Plan.
4. Completethe Creating an Operating Business section first. The one exception tothis is the Personal Financial Statement. It is recommended that thisstatement be filled out early in the process. The user can access thisat the top of the first page of the “Creating an Operating Business”webpage or Section 13.0 on the Financial Plan webpage.
5. Complete the Financial Plan last.
6. Itcannot be said early or often enough that it is important that the userfind trustworthy professional experts to assist and guide them throughthis process. Get help early and as often as necessary!
7. Where do I turn to if I get stuck and need help? The MyBiz.AM website contains a tool, the Resource Navigator,to help you find resources that can support you in this process. Thistool can be found on the left side of the MyBiz.AM home page.
8. Afterthe Guide Book is completed, you are ready to write your business plan.Often a big question is “what format do I use”? Again, the Resource Navigatorcan help you here. There are numerous on-line resources in theNavigator that have business plan templates available. Or, you can doyour own searches on-line, consult your local library, or use onerecommended by your professional business start up counselor. Find onethat suits your style and the requirements of your bank or investor.

Pleasenote that this Guide was created as a template format to helpentrepreneurs prepare a business and financial plan from scratch. However, the user should realize that this Guide may not contain allthe questions or all the answers needed to start up a specific type ofbusiness.  This Guide can to be used to help identify some of the majorconsiderations encountered in the course of determining the businessstartup process.  You are strongly advised to consult with professionaladvisors on matters pertaining to accounting, taxation, legal and otherimportant issues. 

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Step 2: Creating a Financial Plan
13. Your Personal Financial Statement
14. Location
15. Equipment Required
16. Inventory Management
17. Insurance
18. Expenses
19. Financial Requirements
20. Pricing Your Product or Service to make a Profit
21. Sales Revenue
22. Compiling the Financial Plan