Make a Business Plan
What is a business plan?
A business plan is a document you create that acts like a roadmap for how to make your business successful. No matter what industry you’re in, a business plan can help you clarify what you do, what clients you serve, and how you can best serve them. It can also map out what your operating expenses are and whether you will need to take out a loan or access other funding to get your business off the ground.
Why does your business need a business plan?
Aside from being an essential tool to help you manage your business, banks and other financial institutions may require a business plan before they will provide a loan. A business plan will also make it easier for you to work with local and federal support organizations.
How you can create a business plan.
Learn more about Business Plans and find templates to get started from the U.S. Small Business Administration.
Local Resources and Programs
- KC Sourcelink provides a useful business plan sample here.
- Urban Business Growth Initiative can help you develop a business plan. Scholarships are available for KCMO-based businesses and residents.
- Our Community Resources page, powered by KC Sourcelink Resource Navigator, provides links to other helpful organizations and programs.
Conduct Market Research
Figure out what your business will sell, to who, and how through market research.
What is Market Research?
Market research helps you determine the demand for the goods or services your business offers. It can help you identify who your customers are, what they want, and how much they will pay. Market research can also help you identify any seasonal or location-specific trends related to your product or service.
Why do I need market research?
Understanding the market is critical to the success of your business. Without adequate market research, you may price your goods and services incorrectly, or target the wrong customers. Conducting market research early on can help you avoid many of the pitfalls facing new or growing businesses.
How can I conduct market research?
Market research is a broad topic, but you can find many resources specific to your business or industry through the U.S. Small Business Administration Market Research Guide.
Seek Out Support
What kind of support is available to new businesses in KCMO?
There are many government and non-profit organizations designed to help new and growing businesses in Kansas City.
Why should I seek out support?
Starting or growing a new business can be difficult, but finding an inspiring mentor can make a meaningful difference. Experienced mentors can provide industry-specific knowledge, operations expertise, and moral support to help you navigate the day-to-day challenges of running a business.
How can I contact support organizations?
Entrepreneurial Support Organizations welcome contact from entrepreneurs at any point in their small business journey.
- The Small Business Resource Navigator is designed to help you find support organizations that can help you grow your business.
- The SBA Mentor-Protege Program can connect you with a mentor that’s right for you