Your 5-Step Plan

Are you fired up now? Good! But as excited as you might be to waltz into the corner office singing, "Take This Job and Shove It," you need to do some planning first. Let's walk you through the first steps together:

Step #1: Define the business by answering these basic questions about your new venture:

• What is your product or service?
• Who needs it?
• How will you sell it?
• Who is your competition?

This is basic market research, and it is critical to your success. No new products emerge from big corporations without the answers to these questions, and you need to do the same type of study as the big guns.

Countless new businesses fail every year because this first step is skipped, and we don't want to see you fall into that trap.

Step #2: Plan your attack

Once you conclude your market research and have an idea of what your business will be, there a couple of other key questions that you need to answer as you fully develop your business plan...

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