Where to Start
Thinking about starting a business? How do you know if you have what it takes?
Many entrepreneurs start businesses, convinced they have a winning idea, without ever evaluating the idea’s potential to succeed.
Start out by using the business model canvas from Canvanizer. Enjoy a quick video on what that is and how to complete it:
Resources for prospective business owners:
Find a feasibility worksheet on page 30 and a step-by-step business startup checklist on page 28 of the Illinois Department of Commerce & Economic Opportunity’s Starting Your Business in Illinois Handbook, in addition to general information about all aspects of starting a business.Or, check out the State of Illinois “Business Startup Start Here Guide”. Candid offers a Nonprofit startup assessment for prospective Nonprofits.
You might also be interested in testing the viability of your idea. Learn more with the articles here and here.
Write Your Business Plan
A business plan approximately comprises 20 pages describing the potential goods and services to be offered. It is also your roadmap for the next three to five years. It generally includes:
- A summary of the plan with details to follow
- Overview of the company and its industry
- Goods and services to be offered
- Market analysis
- Marketing strategy
- Business operations
- Management structure
- A schedule for starting the business
- Assessment of risks
- Financial analysis and worksheets
- Conclusion
Find books at the Lake Forest Library on business plans in the Lake Forest Library Business Collection Room at number 658.4.
The SCORE online guide includes template documents such as basic business plans, sample cash flow worksheets, and marketing plan guides. SCORE, previously known as Service Corps of Retired Executives, is a nonprofit organization committed to helping entrepreneurs develop and grow their small businesses. Learn more here.
Or, page through a guide curated by the U.S. Small Business Administration (SBA).
The Kauffman Foundation now offers FastTrac self-paced and online for free, which includes tools for writing a business plan and creating a business model.
In addition to library resources such as A to Z Database and Sorkins, the Census Business Builder can help assist you with market research.
