The break-even point will identify how Job Function Email List many customers your business must acquire for revenues to just cover costs, the absolute minimal condition for staying in Job Function Email List business. You need a Business Concept Evaluation Only after you have answered the above three questions in the affirmative, are you ready Job Function Email List to start planning your business. The harsh truth is that if you Job Function Email List cannot answer these three questions in the affirmative, the business you have planned is likely to fail and there is not any point to preparing Job Function Email List a business plan.
So, your first step in planning Job Function Email List a business is NOT to prepare a business plan. It is to determine whether or not you have an idea for a business that is likely to make a profit. To determine whether or not your business idea has profit potential requires a little Job Function Email List research and analysis but most of the data and information is available for free. In addition to checking for information on the Internet, you will need to perform Job Function Email List some primary research by talking to likely customers and visiting the competition.
You need to determine if enough customers can be motivated Job Function Email List to buy your products and services instead of those of the competition. You then need to prepare estimates of sales revenues that reflect the findings of your research Job Function Email List. In short, you need to perform an evaluation of your business concept and answer the three tough questions I have listed above BEFORE you plan your business. Otherwise, you may find you are wasting your time planning Job Function Email List a business that just cannot work. Cheryl Davisson Gracie, Attorney, CPA, RCC, has been coaching small business owners for over 20 years.