Stage 4 is perhaps the most time intensive stage of business development thus far. It is also the most critical. At this point beginning your business could be feasible, but you will need a business plan to truly make it work. Generally this will include components such as startup cost, budgeting, location, suppliers, and more (business plans will be discussed more in a later post).
You will find that you fall into either the tactical or strategic category; tactical being the planner, strategic the visionary. Both are necessary to create a successful business and complete your business plan. This is where strategic partners (for the planners) or a business analyst (for the visionaries) comes into play.
Here at BDN we often begin working with our clients during the development stage since our services center around the business plan, metrics, and lending. We have the unique ability to wear both hats; a commitment to walking with you as your discover your vision and as you develop and implement it.
Up Next: Stage 5