Business Basics
Every business should start by developing a written business plan. (See Chapter 140.) This may seem at first to be unnecessary because most engineers think that they know what they want to do and how to get there without needing to write it down as a plan. However, most failed businesses identify the lack of a formal business plan as a major reason for failure. Developing a written business plan forces one to systematically consider details that are otherwise overlooked and provides a practical roadmap to get you where you want to be. A few hours at a public library will provide one with many resources (e.g., Cuppett, 1966) for developing a plan for a relatively small venture such as a consulting
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service. This plan, if reviewed and updated every 6 months, can become a great working tool for measuring progress and continuously improving quality.