Forums: Discussions for entrepreneurs and small business.

I have online info resource idea which I would like to get up and running. My business plan is in its first draft.. My ideas are on paper, on word, etc. My content can be updated anytime.. the question is this...

Do I create the website first to start generating hits - then submit business plan (as it might change) and go and get my clients/vendors/partners etc..

OR

Do I wait until my business plan is submitted, register the business, find the clients, then do the webpage.

HELP - mind going crazy

 

 

Setting up your webpage before you have a business plan is kind of like starting off on a road trip before you have picked a destination. The direction you are headed is more likely to be wrong than right.

What do you mean when you say "business plan is submitted" - to whom are you submitting it?


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Imeant finalize the bizz plan, and show prospective clients.

I am needing a mock up site to show prospective clients, hence thinking I should build the website now... the site will contain information on events, directories and online forum for upcoming brides. I have the funds to build the website now so I can show clients... but should I finalize the bizz plan first and register the business, or see how many hits I get in a month before selling the info????

 

It is often good to have a plan for a new venture. Not for the plan itself, but rather for the thinking process that goes into creating one. At a high level you need to know what your value proposition is and who would benefit from using your product or service. Once you have a handle on that, you should test your idea (plan not needed) with potential customers, as many as you can reach. Get their feedback and criticisms. Excited customers who will buy your product or service provides excellent content for any business plan, particularly if you are looking for investors.

 

As I recently heard at a VC event, there is no venture in venture capital. If you are seeking VC’s than you will need revenues, a working product, a team and a compelling plan in that order.

 

Good luck.

I think you should go with your rough plans and build out the concept website. You want to have a clear objective with a clear audience, but after that you`ve got to test to see if there`s really an opportunity here.

What you want to build out is a concept - not fully functional, crazy software that has all the bells and whistles. You should network within your target market and select a few people to "check it out" If the feedback is positive and you feel like you`ve got something, THEN refine the business plan.

I know the SuN community is very pro-Business Plan. In my opinion, though, there`s very little value to creating a full-fledged business plan at this stage of the game. Have a rough document that gets your objectives and market on paper, then build a product concept out with those things in firm mind. If it creates some buzz and you see real potential, polish the plan with the financial forecasts, team descriptions, etc.


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Dan Pickett
Principal
Enlight Solutions, Inc.

www.enlightsolutions.com
www.twitter.com/dpickett

I would do both. You may want to have a survey or some comments about your ideas in a small forum, so that people cna give you some feedback, and then you can revise your business plan on peoples` need.

Web Site first or Business Plan? It almost sounds like: What came first the chicken or the "Egg"?
My recommendation is to work on both at the same time. Although, starting a business plan is the most appropiate way to start, what you need to do is, instead of a business plan.. Set a Goal List: In your goal list define what you want to do, and by when. Everytime you hit your goal, Write down how you accomplished that goal and what you are going to need to get to the next step. You web site will help you See the picture better. Why? because it`s not written on Concrete, you can always go back and modify code, images, and content.
Use both to accomplish your goals.
Once you have a list of your goals and what you did to accomplish those goals, it would be easier to put your business plan together.
One more thing before you begin with your busiess plan: create a simple S.W.O.T analysis... SWOT stands for Strengths, Weaknesses, Opportunities, and Threats...
For example: What are you Strengths? (perhaps a good programmer)
What are your Weaknesses? (shy when talking to customers)
What are your Oppurtunities? (Technology, No competition or something)
What are your Threats? ( 9/11, Economy, Capital, and so forth.)

I use this on a regular basis, to see where the business is at and what I need to do to improve. You can use it to give you a small peep, of what is out there.
Just a suggestion!!

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Buy the domain name you want to use and put up a "coming soon" page.  This will ensure that you own the name and you can start to see how much traffic that page gets.  Don`t waste time at this point prettying it up though. 

Now finish your business plan.  With all due respect, I disagree with enlightDan.  Yes the SUN community is very pro business plan for a reason.  In creating a business plan, you`ll do feasability and market research.  You`ll find out how desirable your business idea is before investing too much other time/effort into it. 

If you discover in the end that there`s no market for it...all you`ve lost is the $5 you spent on the domain name.  Otherwise, once you`re business plan is done, you`ll already have the seed planted to start building your business. 


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Ryan J StarPointe Marketing Website Development, Hosting & Marketing Consulting

Starpointe,
I agree with enlighDan, about creating a rough sketch. I know we are all Pro-Business Plan here at Start Up Nation, but... How ficticious is your business Plan`s Forecasting? How did you come up with those funny numbers with a trail of ,000,000,000.(zeros)... How much can one know about their target market when writing their business plan? Unless you are in that industry already?
But... Honestly How did You Forecast? What lead you to believe that those numbers are correct.
I think what he should do is... Start his business on a Goal List... A small two page Business plan that he can edit every week, every month as the business grows.. and once he has enough information... It is much easier to come up with the Business Plan..

 

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Thanks Nuevolution - I think you expressed my recommendation better. I never said don`t have a plan - it just doesn`t have to be refined at this stage of the game - if you need finances, then that baby better be pristine - but, if you`re feeling out the market, develop a strategy, research your target audience, and build a concept to use in focus groups.


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Dan Pickett
Principal
Enlight Solutions, Inc.

www.enlightsolutions.com
www.twitter.com/dpickett