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When it comes to planning, it's all about your understanding of the target market (as it always has been), but these days its much more reliant upon your willingness to adapt and change.
Dig Deeper: Business Plan Power Point Template Business Plan for an Online Business: Set Up a Review Schedule (Be Open to Change) You should never complete any business planning without a review schedule, but it has become increasingly important to do it earlier and more often.Lou Dubois is a Philadelphia-based Social Media Editor for NBC Universal's local news affiliate (WCAU-TV).He is an experienced writer, editor and marketer who has worked with and written about Fortune 500 companies and small businesses, focusing on social media, emerging technologies, small business success, entrepreneurship, sports business and corporate policy.Do each part of the business plan when you need it, and don't worry about such formality up front."While Berry is not suggesting you scrap the idea of a business plan altogether, he is saying that online entrepreneurs need to focus on the innovation and planning of the business first, getting their idea up and running and then being observant and open to changes.While the content of the business plan changes based on your specific business situation, what needs to be included in your plan doesn't.
Consider your management summary to be a resume of the qualifications and work history for the people involved in your startup.