CareerPointers - AIU Online Newsletter

There are no secrets to success. It is the result of preparation, hard work, and learning from failure. - Colin Powell

Q. I would like to start my own business but getting started is an overwhelming task. What are the first steps I should take?

A. That is an excellent question! Starting your own business is an exciting time but it can be intimidating. The first thing you want to do is begin brainstorming and jotting down ideas. Getting your thoughts down on paper will start the process and help motivate you to move forward.

Putting a great deal of thought into your business is the key to success. It is important to cover all bases and ideas to have a clear understanding of the business you truly want to develop. Starting a business is a major career and life changing step; therefore, should not be taken lightly. Once you have collected your thoughts and picked a business that suites you, it is time to create a professional plan.

Here are the 7 key components* that you want to include in your Business Plan:

1. Executive Summary
2. Business Description
3. Market Strategies
4. Competitive Analysis
5. Design and Development Plan
6. Operations and Management Plans
7. Financial Components

After the business plan is created, you will have the backbone to your success; it will contain your business goals, why you feel they are attainable, and how you will reach them. The plan may not be easy but is a fundamental step to ensure you are on the right track. Furthermore, it will be a helpful decision making tool and will provide you with the means to pursue your dream!

Kristy McArthur is the Career Services Coordinator for American InterContinental University Online.

*Source: http://www.entrepreneur.com/businessplan/index.html

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CareerPointers Newsletter
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American InterContinental University is accredited by The Higher Learning Commission and a member of the North Central Association. Additional information is available at 312-263-0456 or www.ncahigherlearningcommission.org. Not all credits eligible to transfer. See the University's catalog regarding AIU's transfer credit policy.

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