You can’t find a better place than Nolo to turn for basic information on the legal aspects of virtually any kind of business. The website also offers free advice, including info on insuring your home business, independent contractor arrangements, trademarks and copyrights, debts, bankruptcies, and employment law.
Lists of the hottest business-related websites have a way of going out of date fast — kind of like teenage fashion when you think about it. And a resource that appears hot to one would-be entrepreneur may not be suited for another. Your best bet is to scout around the web yourself, looking for useful resources. On search engine sites, the keywords business and plan lead you to plenty of generic business-planning information; if you Google “business plan website,” you will be taken immediately to countless pages that link to sources, some that offer free advice, others that sell products. For a more efficient hunt, tailor your search by using keywords specific to your business area (technology, retail, travel, children’s games, social media influencer, ethnic beauty products, financial services, and so on) along with the words business plan and see what you come up with. Make sure to bookmark any promising sites so that you can return to explore them later in more detail. Check out the nearby sidebar “Internet hotspots for business-planning info” for helpful website addresses.
And one last thing: Don’t be hesitant to simply email or dial up a potential source of information relevant to your search. You’d be surprised at how helpful others can be when you ask them in a polite and sincere manner. Kindness counts!
Make sure the material is current. Many web documents aren’t dated, so you may not know whether what you read is the latest scoop or ancient history. Look for a date. If you can’t find one, dig a little further to make sure that the information is still relevant; you can often do this by cross-checking the facts on another website.
Know your sources. In the wide world of the World Wide Web, you may be hard-pressed to know exactly where the stuff you read comes from. If you read a rave review of a new business-software program, and the review comes from a respected business source, you can put your faith in it (and just as true, a blatantly negative one might be from a paid troll). If it appears without a source, be suspicious. Similarly, if the grammar and spelling of the review seems odd — or clearly wrong — be on guard.
Double-check key facts and statistics. If you use specific pieces of information — about business trends, markets, competitors, technology, and so on — as the central building blocks of your business plan, make doubly sure that they’re correct. If you build your financial projections on a forecast that the market for digital widgets will grow at 40 percent a year, for example, you better make sure that information is true and not some widget inventor’s private fantasy. And if the data is absolutely crucial to your plan, follow the advice of the old sage: If still in doubt, throw it out.
Purchasing business-planning software
Business-planning software allows you to automatically assemble all the components of a business plan, turning them into a printer-ready, spiffy-looking document. The best programs also make easy work of the financial parts of business planning — creating income statements and cash-flow statements, for example, or making financial projections. Some software programs add graphics, such as tables and charts, which provide an easy way for your audience to see what you describe in the written document.
Seeking professional help
No one knows the ins and outs of planning and running a business better than people who have done it. And most businesspeople are happy to share their experience and expertise, as long as you don’t plan on becoming a competitor! Many are even willing to mentor first-time entrepreneurs. Don’t be afraid to turn to a seasoned veteran for advice if you run into questions you can’t answer or run out of ideas to get your business off the ground.
www.bl.uk/business-and-ip-centre/about.
Of course, you may end up paying for expert advice. Nothing odd about that — in fact, there’s a whole industry out there ready and willing to help. When you really need a lifeline, the advice could be well worth it. Later on, your advisers may pay you back by becoming your mentors or advocates, cheering on your business as you search for funding or those elusive first customers.
