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This chapter is from the book

Summary

What you now have in front of you is the first draft of your business plan. As you work through this book, you will revise the plan, so it is always as accurate as it can possibly be.

Once your business is up and running, this plan will still need to be revised. Why? Well, as you run your business, the day-to-day operations will provide you with real, hard data. (Right now, you're making a lot of educated guesses.) The longer you operate your business, the more the data from the regular operation of your business will inform your business plan.

So, why make so many guesses when hard data is on its way? Simple. You need to know what you want to do, so you have some idea of the challenges you'll face in getting your business established. Estimating the cost—for both startup and operating expenses—is discussed in the next chapter.

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