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important thing is not how long it takes to do this, but that you end up with a realistic, well-thought- out business description.


After all, its cheaper to answer questions and solve problems on paper than it is with real money.     Your business description should explain exactly what you will provide for the customer as well as what youll exclude. Each of the choices you make in your business description will affect the amount of money youll need to start or expand and how much sales revenue you can expect.     Consider the following series of questions when writing your business description. If you answer both the general business questions and each question that applies to your business, youll present your business accurately and fairly.     For an example of a well-thought-out business, refer to the accompanying sample, which contains the first draft of Antoinettes Dress Shops business description. You will find three additional business descriptions in Appendices 1-3 at the back of the book.     a. General Business Questions     These questions apply to most small businesses. Feel free to skip any questions that dont pertain to you.     1.What problem do I solve for my customers? (You answered this question in detail in Section D2, above.)     2.Who is my typical (target) customer?     3.How will I communicate with my target customer?     4.What products and/or services will I provide? Are there any products or services my customers may expect me to provide that I dont plan to provide?     5.Where will my business be located?     6.Where will I buy the products I need?     7.What hours will I operate?     8.Who will work for me and how will they be paid?     9.Who will handle critical tasks like selling, ordering, bookkeeping, marketing and shipping?     10.How will I advertise and promote my business?     11.What are the competitions strengths and weaknesses?     12.How am I different from the competition, as seen through the eyes of my customers? (Make sure that you answer this question from a customers perspective and not from an owners point of view.)