Making IT Profitable:
A Guide for New Businesses & Freelancers

Chapter 1: Before You Start

If you're the type who likes to get down to business right away, you may not like what we have to say here. But according to entrepreneur and small-business mentor Dr. Deborah Osgood New browser window icon., it's better to test the waters before plunging in. In fact, Osgood even says that the conventional wisdom of starting with a business plan is a bad idea. "Ask just about anyone how to start a business, and most will reply, ‘Write a business plan,’ she says." But while creating that plan is important, it shouldn't be the first thing a technology professional does. Or even the second.

In fact, in Osgood's estimation, you shouldn't be thinking about a business plan until you've done some strategizing to identify short- and long-term goals. And this is something she's spent some time considering: as CEO and cofounder of the Knowledge Institute for Small Business Development (KISBD) New browser window icon., Osgood has developed a number of training courses for small businesses (including the self-employed) and consulted with major players like American Express, the Department of Labor, and Microsoft.

Next: 8 Steps to Complete before You Write a Business Plan

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