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Business Plan Tips

For COMP 310 - IT Entrepreneurship

Writing a business plan is very important if you ever want to start your own business.

Here are some web sites to visit that may be helpful:

• My Own Business - A free course on how to start your own business
• How to Do a Breakeven Analysis - determining when your business revenues equal your costs
• Cash Flow Statement - a simple 5 year example with explanations (this is essential - the bottom line - for planning a business; note that for a small start-up company in Hong Kong, you will probably have very little initial costs if you simply work out of your home.)
• Exit Strategy for a Business Plan - if you don't plan an exit strategy, it investors might think you are not well-prepared to use their money.
• The 4 D's of a Business Exit Strategy - plan ahead what to do when a partner dies, is disabled, doesn't like working in the company any more or finds a better opportunity. Will you sell his shares to other partners? Will you dissolve the business? If you want to remain friends long-term, give serious thought to this part of your business plan.
• A Sample Business Plan for a Product
• 41 Free Computer Consulting, Repair, and Reseller Business Plans - ISP Business Plan, Online Services Business Plan, Internet ASP Business Plan and many more.
• Hong Kong Science Park Incu-Tech Programme - a technology-based incubation service run by Hong Kong Science and Technology Parks (HKSTP) to assist technology start-ups in their vulnerable inception stages.

Be sure to proofread and run a spell check before submitting your paper:

If you are going to be a professional one day, you must learn to write professional-looking reports.

Help from your communication tutor:

If you want a communication tutor to offer suggestions for improvement, you can e-mail him/her, but please allow sufficient time.  If you submit a draft at the last minute, your tutor may not have much time to help you.