Do You Still Think Your Idea is a Good One?

Good Idea?

After thinking through and working through all of the issues discussed in this phase of the C.A.R.E. model, do you still believe your business idea might work? If you can answer this question in the affirmative, it's now time to get serious help with in-depth analysis and planning. You need to develop a comprehensive business plan. This effort, if you do it right, will take 50 or more hours, and will work best if done over a 10 to 15-week period.

Developing such a comprehensive business plan is critically important to the success of your business for two reasons:

  1. It will help you thoroughly analyze every aspect of your business idea. You will have as much knowledge as you possibly can because you will have done extensive research.
  2. It will provide you with the necessary documentation to sell your business idea to bankers, venture capitalists and other sources of special assistance and funding such as government agencies and foundations.

When completed, business plan will include: