10 Secrets of Building a Successful Business

1. Have a Clear, Compelling Vision & Mission
This is what people will buy in to or not. They need to feel the importance of what you are doing. BizPlanBuilder includes sample text for articulating your dream, the essence of what you are about

2. Understand your market.
How big is your potential market? How big can you make it? Know who your customers are and why they would want to buy your product or service. BizPlanBuilder helps you define the largest possible market through market analysis tools and links to online resources.

3. Develop a solid business model.
What are you going to do, and how are you going to do it? BizPlanBuilder offers a variety of business models, as well as innovative ideas for new revenue sources.

4. Build the right infrastructure.
To make a go of your business, you’ll need to choose the right structure: sole proprietor, corporation, etc. You may also need to secure licenses and permits, or meet other regulatory requirements. BizPlanBuilder has an entire section on choosing the right business structure, plus a business start-up checklist.

5. Position your company.
Establish in the minds of your customers, prospects, and stakeholders exactly who you are, what you do— and perhaps more important, what you don’t do. BizPlanBuilder is loaded with marketing guidance to help you position your business effectively against the competition.

6. Market and sell intelligently.
How can you increase your sales? Develop a marketing strategy that’s grounded in your vision, marketplace, customers and budget. BizPlanBuilder includes a detailed, customizable marketing plan you can use to create strategic, prioritized marketing programs.

7. Choose your management team wisely.
Who’s on your team? Who else will you need? BizPlanBuilder helps you present your team effectively to potential investors, determine who else might be useful—and why.

8. Make a profit.
Before you get started, it’s important to estimate your costs, cash flow, and potential for profit. BizPlanBuilder’s financial models have been refined for nearly 14 years. They show the math so you can understand your numbers and how they’ll behave in varying circumstances or with different management decisions.

9. Finance your growth.
Different stages of the business lifecycle call for different types of financing. Be sure you understand your options at every point. The BizPlanBuilder planning process will prepare you for making the best impression when you approach each type of potential investor.

10. Plan your exit.
Your business is a product, too. As it grows, always be aware of its value for possible sale, acquisition, or merger. BizPlanBuilder helps you analyze the potential return on investment (ROI)