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You're frustrated with your current job. I can see it in your eyes . . . and tisk, tisk, in the words you're using to describe your boss! (You probably shouldn't be using language like that - at least not within earshot of him!) You've threatened to start your own business before, but this time you're serious. And frankly it's about time!.
Of course, it's a huge step. Yes indeed, one wrong move could hurt your new venture. But think about what happens when you take all the right steps and the plan comes together. It's 'so long, boss, and 'Hello, business world!' That's why you need to arm yourself with as much knowledge as you possibly can before you jump into anything.
Write Your Idea Down NOW!
 The very first thing you need to do is start. It's a frightening proposition, but the potential profits - both financial and personal - are extremely lucrative. So start today - right now, even! If you have a great idea for a new business or a new web site, write it down. There are several reasons for this, not the least o f which is to capture that idea.
Many people have wonderful ideas they believe will never leave them. Sometimes even in as little as an hour later, the idea has faded. Oh, it's still there… in its own way . . . but it just doesn't feel as urgent or as viable.
Don't let this happen to you. Write your idea down while you're at the peak of your enthusiasm. In fact, go one step further: begin writing out a business plan as soon as possible. Take that idea and do everything in your power to make it seem as real as possible. Write down the steps you think you'll need to take to get this idea up and running as a full-fledged business.
The sooner you start treating your idea as a living, breathing corporate entity, the sooner you'll be able to see it materialize. And you know what that means? Yep, the sooner you'll be making money from it.
Avoid intimidation: Do your homework
 If you've never written a business plan before, the idea can be a little daunting. You'll need a detailed business plan when you apply for credit. When you ask to borrow money - business plan in hand - it shows the potential lender that you've given some solid thought to your business - you've analyzed all aspects of your venture, visualizing several scenarios as well as your reactions and plans of actions to them. It also shows how you plan to use the money to make your business grow.
If you've never really delved into the components of a business plan . . . well, there's no time like the present. Keep in mind that a business plan defines your business. Not only that, but it clearly and specifically defines your goals. Think of it, in a real sense, as your business' first resume.
The business plan is, in a very real sense, your roadmap to success. But for that to happen, you'll need to include a proposed balance sheet for your venture based on your research. A good business plan includes an income statement as well as a cash-flow analysis. In this way, the business plan becomes your trusted aid in the allocation of your resources.
With a detailed business plan, you're less likely to get knocked to the ground should unplanned, unforeseen complications arise (and we all know they seem to arise when you can least afford them and certainly when you least expect them!)
But not only that, a good business plan not only anticipates your income and expenses, but it takes into account at the very outset how you plan to repay your business loans. There's absolutely no two ways about it… a solid business plan is a critical aspect of any business loan application.
The financial end of your plan is extremely important. Remember though, you're not the first person to create a business plan. There are many resources at your disposal. A good business plan increases your chances of receiving that loan by leaps and bounds.You can do it!
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