Everybody talks about making a business plan. Well, actually, some people could care less. But those who do think they know what one actually is when in reality, what they’re talking about are just pieces of an overall plan. In this article, I’m going to show you what is and what isn’t a true plan so that you understand completely.

At a forum where I hang out, somebody asked what the best plan is. First of all, there is no such thing as a BEST plan. Each one has its good and bad. But that’s besides the point. Anyway, this person listed three things he was considering doing…squeeze page with free offer and OTO on download page, creating own product or creating an info site with affiliate products.

Okay, hate to burst your bubble here folks, but those are NOT business plans. They are just small pieces of an overall business plan. If you were to walk into a bank for a business loan and tell the bank manager that one of those things was your business plan, you would have been laughed out of the bank without a loan. Got it? Okay, so what’s a business plan then?

To start off with, it is a complete business model Let’s take the one small piece above… creating your own product. You’d have to totally outline what the product is, what market it’s for, what your projected sales would be, what complimentary products you’d have, if any, what your expected costs are, what your projected income is, what your USP is, what marketing strategy you’re going to use, and so on. Every little thing needs to be detailed with cost and income projections.

Slapping up a review site for an affiliate product is NOT a business plan. It’s a half baked attempt at earning a few bucks online… which is fine if that’s all you want to do. But please, for the love of Pete, don’t call it a business plan, because it’s not.

This is probably one of the biggest mistakes that home business owners make. Not only do they not make a business plan but they don’t even understand what one is. If you can’t see the importance of one, then let me make it clear. Without a proper business plan, you have absolutely NO way of knowing whether your business has a REAL chance of being profitable. So ultimately, what happens is that the business either isn’t as profitable as it could be, or it fails altogether.

And you can take that one to the bank.

Even if you DON’T get that business loan.

To YOUR Success,

Steven Wagenheim

Looking for a solid 4 step plan to building your own business…FREE? Pick up my free report at http://www.stevewagenheim.com/4steps.html and get started TODAY!