Develop a plan that can act as a blueprint for your company to follow. While you may have a firm grasp of business, you'll need to communicate that idea in writing. Putting it down on paper makes it real and builds commitment and loyalty. Good plans contain enough detail to guide the company, but they also allow for flexibility. As the saying goes, "Plans are meaningless, but planning is everything."
Generally, you need to have your financial and economic models, partnerships and alliances, and operational plans available to share with the investment community, so spend time developing them correctly. And don't try to be your own island. Creating strategic alliances is at the core of successful enterprises. Use your supply chain well and create value at every corner.
Aliza Sherman is an entrepreneur and author of Cybergrrl: A Woman's Guide to the World Wide Web (Ballantine Books). She is currently working on her next book and new company.