Take advantage of your enthusiasm right now, before it fades and that stubborn, pessimistic little voice deep inside you says you can't succeed. Begin the outlines of your first business plan. A business plan is definitely that important. Don't underestimate the value of it!

Never written a business plan before? Don't worry. There's really nothing to it. Let's start first with the product or service you intend to offer. There are six serious questions you need to think about before you jump into any business venture. These are the major questions you'll be answering when you put your business plan together. These are also the questions a loan officer asks when he assesses your business for the money you're requesting.

Q.What is the service or the product that your business will offer?

Seems like a silly question. Get a clear idea of just what service or product you'll be offering. You need to be concrete about this. It's not enough to say I want to produce "some type of widget". Specifically what types of widgets. Describe them in detail.

Q.What need is your product or service fulfilling?

Your widget web site needs to fulfill a need that isn't being met by the other widgets on the market today. It's not enough to start a widget business thinking you'll simply be taking business away from Wendell's Widgets. Your Wonderful Widgets need to penetrate the defenses of the already established Wendell's Widgets. Are yours a higher quality? Give more years of service? Can be used in more places? Come in different colors, sizes, patterns? Can they be personalized or customized?

Q.Who are your potential customers?

Whatever you do, don't answer these questions by saying "Widget users worldwide." This shows you've done absolutely no homework, know nothing about your potential customers, and are really starting your business off blindly. It's one thing to take a leap of faith in starting a business . . . it's quite another thing to be taking a gigantic leap in ignorance. If you're not sure who would be using your widgets . . . well, discover that. It's a major component of your success (and a certainly helps in presenting your business plan to a potential bank for funding). It's also important to know this when you get ready to advertise (after all, customers aren't just going to show up at your door psychically…)

Q.Why will your customers purchase your product or service?

This question is intimately related to the one about fulfilling a need. You need to know - before you jump into business - exactly why your customers will choose your Wonderful Widgets before they purchase Wendell's Widgets. Do you offer more colors? A better guarantee? Higher Quality? Perhaps you provide a faster delivery service or free shipping.

Q.How will your customers find your product or service?

This question speaks to your marketing plan. Don't expect to buy a domain name and have the pubic immediately discover www.wonderfulwidgets.com. You'll have to plan a way to direct your traffic to your site. Will you use articles, Adwords, ezines, newsletters, blogs or pay per click advertising? TV or radio commercials? Billboards? Fliers?

Similarly, if you're opening a "brick and mortar" business, how do you expect to tell people you're located in the uptown area . . . or you're the new business on Main Street? You need to have a plan for drawing people in . . . and that includes some estimate on the cost of this marketing plan.

Q.Where will you get the funding to begin your business venture?

The answer to this question is more than just "I'm walking into the bank unannounced, business plan in hand, with my fingers crossed." Do your homework. Call your bank prior to making any decisions on this. Learn what kind of small businesses they finance. Do some research. Are there alternative ways to get money? Perhaps your age, sex, or race makes you eligible for special funding - even some grants. There are plenty of resources to help you discover this. Don't overlook the U.S. Small Business Administration. They can help steer you in the proper funding directions.

Remember, Rome wasn't built in a single day. And your proposed business, in a very real sense, is your "Rome." If you want it to be more than a flash in the pan, then give it some serious thought before you open the doors to your business or activate your web site. You'll save yourself much time, trouble, energy, and heartache in the long run.

If you can outline the answers to these six core questions regarding your business dream . . . then you're well on your way to making that vision a reality. And that puts you way ahead in the game and on the fast track to success!