A. Select those opportunities which meet standards for potential success based upon conclusions derived from the above investigation.

B. Insure that the community is informed and mobilize local citizens in support of selected projects.

C. Follow accepted business planning procedures to develop a detailed, written business plan for both the short and medium-range future. In addition to specifically addressing item C 1-7 above (market research and evaluation, business/community networks and linkages, processing efficiency, input procurement/supply, labor force considerations, and financing availability and entrepreneurial/managerial ability), this plan should be specific in considering the following:

1. Marketing Plan

   a. sales techniques
   b. advertising/promotion
   c. target market
   d. service policies

2. Operations Plan

   a. facilities, location, space
   b. capital equipment
   c. labor force
   d. inventory control
   e. purchasing

3. Financial Plan

   a. financial statements and ratio analysis (liquidity, solvency, financial
   efficiency, profitability, repayment capacity)
   b. record keeping
   c. operations

4. Research and Development Needs

Links to Other Related Sites

• Rural Information Center

  The Rural Information Center (RIC) is a joint project of the USDA Cooperative State Research, Education and Extension Service and the National Agricultural Library (NAL). RIC provides information and referral services to local government officials, community organizations, health professionals and organizations, rural electric and telephone cooperatives, libraries, businesses, and rural citizens working to maintain the vitality of America's rural areas. The Center combines the technical, subject-matter expertise of Extension's nationwide educational network with the information specialists and resources of the world's foremost agricultural library.

• The Kellogg Collection, Rural Community Development Resources

  This Collection was created in cooperation with the University Libraries and College of Architecture at the University of Nebraska-Lincoln, and was made possible by a grant from the W.K. Kellogg Foundation. The Collection contains high quality rural community development materials funded by the Kellogg Foundation and other selected sponsors of recognized rural programs. Guidebooks, manuals, workshop materials, reports, books, and videos are included. A major benefit of this collection is having a central repository for such materials to discourage new programs from spending time and money to develop resource materials that may already exist.

• Direct Farm Marketing and Tourism by Cooperative Extension, College of Agriculture, The University of Arizona

  This site has publications which address business planning with short worksheets for calculating start-up expenses, cash flow, income statement, and balance sheet.

• Small Business Primer on Legal Issues by North Carolina State Cooperative Extension, Family and Consumer Sciences

  Site has information and links related to selecting a legal structure for your business, legal liabilities, contracts, employment laws, etc. Note that this site is not designed as a substitute for legal advice, nor does it tell you everything you may need to know about this subject. The information should help you ask better question to your attorney, accountant or other professional.

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This page is maintained by: arecweb@ag.arizona.edu
Questions regarding content: Russell Tronstad
Last update: 4/8/97