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Key Components of a Successful Business Plan
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 Information by State
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Starting a Neighborhood Networks center can be a challenge. Finding equipment, hiring qualified staff, organizing partners, and asking for money can be overwhelming. One of the most helpful tools is a business plan, which serves as a road map for developing a successfully operating center. Use these elements to develop a successful business plan.
-   Design a curriculum to meet the needs of your residents. Survey residents to determine which services the center should provide so residents may receive maximum benefit.

-   Look for partners in more than one place. Don't put all your eggs in one basket. Instead, look for partners throughout the community, including schools, colleges, religious groups, foundations, businesses, healthcare organizations, community groups, and government agencies.

-   It takes a team approach. Owners, residents, and staff all must be involved in the operation of the center. The owner can reach out to peers in the community while the residents voice their needs and encourage participation in the center. Computer and other trained professionals often are needed to implement educational and training programs.

-   Always be able to answer the potential partner's most important question, "What is in it for me?" Partners want something for participating in Neighborhood Networks centers. Often, it is publicity or a way to reach a new customer or target population.

-   In designing your center, keep it lean and focused. Stay on target and avoid the temptation to branch out too far and too soon. Incorporate goals for growth into your business plan and make it a living document.

If you have any questions about how to develop a business plan or other important components, contact your local HUD Neighborhood Networks Coordinator or Public Housing Grant Manager.
 
Content current as of 13 March 2008   Follow this link to go  Back to top   
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