cited from emannuelramli.blogspot.com

I want to start my own business (after I graduate)

"I want to start my own business after I graduate."   EXCELLENT!  Who does not want to have her own business?


You love going to Grand Indonesia.  You love visiting certain boutiques there.  And you say to yourself, "Once I have enough money, I want to open a shop similar to that one..."


You love hanging out at Starbucks @ Plaza Senayan with your friends.  You always enjoy a grande Java Chip there.  And you say to yourself, "What if I open a niche cafe near my house?  I'll ask my dad to support me..."


You love going to Kemang Raya.  You love dining at the gourmet restaurants there.  And you say to yourself, "I'll talk to Iwan and Wilson.  Maybe they are interested in opening a restaurant..."


So what does it take to open a business?  Many of us would say that if we have the money, we can open that shop...or that cafe...or that restaurant.  And this is where many of us will go wrong because it takes a lot more than money to start a business.


This "a lot more" can be consolidated into one thing: a business plan.


What is a business plan?  These are the main components of a business plan:

• What do I want to sell (product and/or service descriptions)
• To whom do I want to sell (targeted markets and/or market segments)
• How do I get what I want to sell (procurement and/or production strategies)
• How do I sell what I want to sell (marketing and sales strategies)
• Who is going to run the business (management composition)
• How many people do I need (staffing requirements)
• How much money do I need to start the business (capital requirements)
• How much money do I need to run the business (cash flow projection and break even analysis)
• What can prevent my business from going bankrupt (risks analysis and mitigation)

Whether you want to start a big business or a small business, you always need to prepare a detailed business plan.  A good business plan helps you think through what you really want to do. It helps you figure out if what you want to do make sense or not. It helps you realize whether you can do it or not.


And a good business plan is something that you need to show potential investors when you go to them to ask for money.