Chapter 20 Preparing for Your Career 591 Copyright Goodheart-Willcox Co., Inc. For example, suppose you decided to recycle paper. You could collect paper that has only been used on one side and then cut it into various sizes. You could then glue or bind the paper together to make notebooks and notepads. The equipment needed for this business would be a mechanical paper cutter, glue, cardboard, and a binding machine. Creating Your Business Plan To start your business, you need a business plan. A business plan is a detailed plan of how the business will operate and what goals it will achieve, using specifi ed resources. Your business plan will serve several purposes. First, it serves as a road map that points the way to success. You may have to change your route if you encounter a roadblock, but the business plan always points to your destination. A business plan also becomes a standard against which you can compare your success. It provides targets to aim for and completion dates. It lists important details and realistic ways to achieve your business goals. Initial Plan and Feedback After you have decided on the product your company will make, create a short version of a business plan. The purpose of this version is to explain your idea to a mentor. A mentor is someone who has knowledge about the product the class is proposing and agrees to provide advice (Figure 20-13). This person can be your teacher or someone in the community. Monkey Business Images Figure 20-13. Mentors are professionals who have experience with the product or type of business you want to start. A mentor can help you start out right and stay on the right track as you develop your business.