Since posting the other day http://gcdailyworld.com/blogs/chriswathen/entry/19858/ I've fielded some questions, regarding the GREENE COUNTY BUSINESS PLAN COMPETITION. Of these, I've decided to post some of the more common ones here:
Q: WHAT IS A BUSINESS PLAN ANYWAY?
A: A business plan is a written description of a company you may wish to start. In it, you will describe what the business will provide customers, who the customers will be, how you will market the products or services you will be selling, and other details of your idea. Traditionally, business plans are developed to communicate these ideas to potential investors, bankers, or business partners. Ideally, they are a 'living document' because they will change over time, as you begin, develop, and change the business. If you ask, few business owners actually end up with the business exactly as they first envisioned it. They may stumble upon a different set of customers, who they didn't realize were in need to their product or service, new products or offerings not first identified, or a completely different method of marketing, as examples.
Q: CAN JUST ONE PERSON ENTER OR CAN A GROUP OF PEOPLE?
A: Yes, either. As in business, sometimes it's just a sole proprietorship. At other times, a partnership or group is involved and makes more sense.
Q: WHAT AGES CAN APPLY?
A: Any ages can apply. In fact, in the era of the internet, many young entrepreneurs have done quite well in real-life business.
Q:DO YOU HAVE TO LIVE IN GREENE COUNTY TO APPLY?
A: Not necessarily. Applicants can be from out of the area, as long as they plan to open and run the business they describe within Greene County.
Q: WHAT PRIZES ARE AVAILABLE TO THE WINNER(S)?
A: We continue to get pledges for more prizes from local companies each day, so stay tuned for updates. All of the prizes are aimed to help a beginning business get a smooth start should they decide to begin their business. For example, we have everything from a free advertising package to a company logo design to a business website to scholarships for entrepreneur workshops pledged so far. If you'd like to discuss pledging items or services toward this county-wide competition, you may e-mail gcbpc@yahoo.com
Q: WHAT RESOURCES ARE AVAILABLE?
A:There are many resources available to you, including the local Chambers of Commerce, the Greene County Economic Development Corporation, local banks, and others. Check with any of these for more information on how to develop a business plan. Most of these organizations have websites, too, which can be quite helpful and full of links to other information. No one form or style of business plan is 'correct' as each have 'pros & cons' to their overall outline. Look at several templates, if you so choose, and select items you feel are best for your particular business idea.
Best wishes & good luck!
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This blog post by Chris Wathen was also published in his Linton, Indiana based Greene County Daily World blog entitled, "Riddle Me This".
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