In addition to membership benefits, Forbes Councils offers access to educational materials featuring successful entrepreneurs. [Note: The full benefit is Forbes Councils members only — click here to find out if you qualify — though everyone can find more videos on our YouTube channel, here.]

In this video clip, Orobosa Owie, lead principal and CEO of Millennials in Business, LLC, outlines how to develop a business plan. Before starting your plan, research your target audience to make sure there’s an audience for your services. As well, before writing an extensive business plan, keep in mind that it is a working document that will grow alongside your company. Once you get down to writing it, make sure it has four key elements: a clear and defined mission, a vision of why your company exists, marketing projections in terms of how you’ll share this mission and vision, and financial projections.

It’s great to have a business plan because it allows you to set goals — and not the goals for now, but also goals where you see your company in the next three to five years.”

More about our expert: Orobosa Owie is a business coach, professor, global speaker and millennial empowerment expert. With over a decade of experience in business management and community affairs, Orobosa has built a millennial-driven career development brand that empowers, equips and trains entry- to senior-level professionals on how to address global healthcare issues, establish lucrative career portfolios and engage and conduct in business in their respective industries.

She is the lead principal and CEO of Millennials in Business, LLC, a full-service career development consulting firm specializing in entrepreneurship, professional development and training. She is also the founder and executive director of the Young Professionals Healthcare Network. Orobosa has provided career development services and programs to various UN agencies, for-profit and non-profit organizations, ivy leagues institutions and host country governments.

To learn more about Orobosa, visit her websites: www.orobosaowie.com, www.millennialsNbusiness.com and www.yphn.org.

Forbes Councils members: Discover more great content at forbescouncils.com/education.

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