Archive for the ‘Business Planning’ Category

by Martin Cathrae

Business Plan Consultant

Anyone planning to start a business needs to have a plan in place if all is to turn out right. Coming up with a business plan, no matter how small the business may be, is sometimes not very easy and may call for the services of a professional business consultant. The need to have a business plan is propelled by the fact that later on in the life of the venture, one may need to present it to investors for planning or partnership.

A business plan consultant is normally in a position to tell you what key points need to appear on your document. One may wonder why such a crucial document is so difficult to write, but as earlier mentioned, it needs to capture and sustain the attention of whoever will be reading it. The content will also be determined by the amount of starting capital that is being looked into at the start of the venture. A business plan written with an aim of getting a loan of ,000 is definitely different from one that is targeting million. All the same the content should not be more than 40 pages.

As a suggestion to what the business plan should contain, the consultant will guide you through the various sections of the document. The first one is the executive summary which should capture the main points of the content. Remember that, the first impression is the lasting impression and so, what the reader draws from here will determine his general judgment about you and the business.

You need to explain how you will market your business and what your strategy for growth and expansion will be. These two factors will be faced with competition from other ventures in the same industry, so be clear about how you plan to step up your game to deal with competition. The other most important bit is the budget, in which you should capture all the requirements for the start up and their costs. Be careful with the figures, neither underestimating nor over quoting prices.

by mastermaq

5 SIGNS YOUR BUSINESS PLAN WILL COME UP SHORT WITH INVESTORS:

A business plan is an important document, which contains information about your business in detailed manner. A good business plan helps you to get loan from potential investors and lenders and on the other hand it also helps you to take important decisions effectively and efficiently.
Following are five signs your business plan will come up short with investors:
You are selling, what?
Is your business plan contains the information about your product and service? You know what you are selling, but making an assumption that your potential investors and lenders also know about your business is a big mistake. If your business plan does not contain the information about your products and services potential investors and lenders will not take it seriously and refuse to grant you loan.
Make sure your business plan describes the features as well as the benefits of what you are selling. Tell them how it fulfills the requirement of the large amount of customers.
“I sell to everyone!”
Do you? If you want to run your business successfully than it is necessary that your products and services will provide benefit and fulfills the requirements of large number of customers. You can only make a difference between success and failure if you have properly understood your target market. Understanding the target market allows you to focus your marketing efforts to reach the right customers and also helps you to introduce the product according to their needs and desires.
Your Competitors Know You Exist:
The biggest mistake a business man do is making an assumption that they do not have any competitors. Every business whether big or small has competitors and it is necessary to mention about your competitors in detailed manner. Be sure the business plan consist information about your competitors, their strengths and weaknesses and what product are they selling?  
Even Batman Had Robin:
Running a successful business is not an easy task. It requires time and a skilled and experience team that will lead you’re your business towards success. Make sure your business plan contains the information about your management team in brief and concise manner; their job responsibility; background information; and also contains the information about your board of directors.
An Exit Strategy – Without an Exit, Or a Strategy:
A business plan is an important document that helps you to plan your business in a most successful manner and also it helps you to raise capital. If you are unable to make a solid and realistic exit strategy your business plan will come up short with investors. Make sure to take into account your particular business, company life-cycle, competitive background, and management wants; also think about your personal and financial goals and their relation from your business future, when deciding upon your exit strategy.

by groop_lab

WHAT SHOULD BE INCLUDED IN THE EXECUTIVE SUMMARY OF THE BUSINESS PLAN?

One of the most important sections of business plan is the executive summary, which contains the introduction about your company and business. It is essential the executive summary of the business plan must be that powerful that it convinces the potential investors and lenders to read further and grant you loan. Executive summary is written usually in the last after completing the business plan and should not be more than two or three pages.
Your executive summary should:
•    Provide a obvious, brief and convincing synopsis of your business
•    summarize your unique advantages for achieving success
•    Be written in a optimistic, convinced and confident tone
•    Will not be more than two or three pages, which can be readable in not more than 5 or 7 minutes.
•    reveal why your business idea will work
•    Simply and clearly show your management’s goals.
A successful and high-quality business plan describes the essential concepts and opportunities of your business. A good quality executive summary must show:
•    Business name
•    Business location
•    Information about your products
•    Services and the purpose of writing the business plan
•    A skilled and capable management team
•    Competitive advantage
Never waste your words in the executive summary. Make it as much relevant as you can; try to write it precise otherwise your potential investors and lenders will not waste his or her time by reading further and keep your business plan on side. It is crucial that the executive summary of the business plan must immediately grab the reader’s attention; it must clarify your business in a unique and understandable manner. Avoid using too complex term in the executive summary.
Don’t assume that if investors and lenders are investing in your business they must also know what product and services you are offering. Give brief description about your products and services in the executive summary so that potential investors and lenders get some knowledge regarding the products you are offering without reading further.
After completing the executive summary don’t forget to review it. Read it many times and satisfy yourself whether it grasp the attention of your investors and lender or not? Proofreading will also help you to get an error free and successful executive summary.

by a shadow of my future self

DO I REALLY NEED A BUSINESS PLAN TO SELL MY IDEAS?

There are many entrepreneurs who have a great business idea but, don’t have a winning business plan; this is because they don’t know the importance of business plan. If you are planning to start a new business the very first thing is to create a successful business plan, that helps you to sell your ideas; and on the other hand it will also help you to get funds from potential investors and lenders. A great business idea is used to build a business but, it will not help you to get loans from investors and lenders. Business plan tells the feasibility of your business ideas; and it will also act as a road map to success.
Following are some hard realities about business ideas:
•    You can’t own an idea. For having the ownership of the ideas it is necessary to have a legal ownership.
•    Real businesses don’t trade on ideas. There is the possibility of same ideas that is why professional investors won’t sign your nondisclosure document.
•    You write business plan to sell your ideas to potential investors and lenders. You can’t sell your ideas until or unless you have a professionally written business plan.
•    You don’t know who is already working on your idea because if you have good idea somebody is already out there to work on it.
So if you want to run your business successful and have a great business idea it’s better to write it on paper. If you implement it, you can automatically get the value in the idea. This is what business plan is all about. The business plan helps you:
•    To gather your management team,
•    Get loans from potential investors and lenders
•    Setting milestone for business activities
•    Know your target market and audience
•    To know your competitors, etc.
Every idea gets the value as and when you implement it. So it’s better to make a business plan if you want to run your business successfully.

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by agapbulusan

Writing a Business Plan? Start with a Great Introduction

When it comes to writing a great business plan, most soon-to-be-new business owners struggle with the same question: Where do I start?  In this case, the age-old answer to that question is the best answer, “at the beginning.”  The most important part of your business plan is a well written introduction.

If you are seeking investors or a small business loan, your introduction must hook the reader so that they will feel compelled to read the rest of your plan. The first thing a lender or investor will want to know is what problem your business will solve for its customers.  That is what businesses do—they solve problems for customers so convincingly that customers willingly give them their money. The first objective of your business plan introduction is convincing the reader that people will actually give you their money to do for them what your business will do! An example will help to go through the steps.

If you were starting a lunch deli, shift your focus away from the savory breads, top quality meats, cheeses and vegetables.  Focus on the problem you will solve for your customers. “Downtown workers struggle to find quality food, at a fair price, with a convenient location that lets them get back to their offices in fewer than 30 minutes. These downtown workers don’t want to hassle with driving and parking just to get lunch. They are simply not willing to spend an hour out of the office in the middle of the day.”  That’s the problem and it begs to be solved!

Your next objective is convincing the reader that there are a sufficient number of people who have this problem to sustain your business. The exercise varies depending on the type of business you’re starting, but it all comes down to knowing the size of the market you can reasonably hope to reach.  For our deli friends, this might be stated as, “There are over 6,000 office workers within two blocks of our planned location. With phone in ordering and delivery service we will have the opportunity to reach all of those customers five times a week.”

Next, preview your unique selling proposition to the reader—tell them what makes you different.  You’ll be able to delve into the competition later in the plan. For now, just let them know how your business is unique in the eyes of the customer.  Let the reader know in a convincing manner that your business will not be a “me too” business in a crowded market.  ”Our deli will be the only ground level restaurant with both dine-in and over-the-counter takeout serving baked or cold cut sandwiches on freshly made bread, within six square blocks of the Triple-Towers.”

Finally, speak briefly about your credentials for operating this business. Again, you’ll be able to go deeper in the management section of your business plan.  For now, let them know you are the right person to be operating this business.  Our deli friend might simply say, “After growing up and working in the family restaurant business for more than 15 years, Joe Hamm our founder is an expert with customers, vendors and employees.”

What has the introduction accomplished?   We’ve identified that there is a problem to be solved.  We’ve established that there is a big enough market to support the business.  We have clarified that our deli will stand out in a crowded downtown environment.  Finally, we’ve let the reader know about the credibility of the founder.

More importantly, we’ve done what every good business plan’s introduction should do.  We’ve left the reader hungry for more. The only solution to that problem is for them to read the rest of the plan.

by Phil Sexton

How To Write A Cleaning Business Plan The Easy Way

What is a cleaning business plan?

This is basically the blueprint of your cleaning business that will serve as a guide in going about the launching as well as all other tasks involved in starting the enterprise.  This plan is a detailed compilation of all pertinent details regarding operations, targeted profit, information on manpower, potential clients, etc.

How to write a cleaning business plan

It is natural to think that writing something as important as the blueprint of your entire business is daunting and should be left to a professional.  While there is a certain advantage to having a professional writer arrange this for you, there is no harm in taking on the task yourself.

Yes, you can write your own business plan for the cleaning business you are about to start.  All you need is to determine the most important aspects that need to be included such as the following:

Business goals and objectives (long term and short term) Mission Company summary (what the company is all about) Services offered (current and foreseen) Market analysis summary (results of your marketing studies) Strategy as well as implementation (How you will go about in achieving the short term as well as long term goals that have been stated in the plan) Management summary Financial plan Indexes

Tips

KISS- Keep it short and simple.  You are not writing a novel so you have to make the entries as concise and brief as possible.  The goals as well as your mission statement should be very specific. Base it on facts- Numbers are very important on business so before you get started on writing your cleaning business plan, make certain that you have done thorough research.  Keep in mind that you will be referring to whatever you will write for the first few months of operation so it is important that you have a solid foundation on which you will be basing some of the most important decisions. Have it looked at by an expert- Although you can write your own business plan, it would not hurt to consult an expert who have actually done one on the past and have consequently succeeded in the business as well.  Getting an expert opinion can only help in making your plan more focused and goal oriented Be realistic- What you will write on your business plan, particularly on the objectives/goals part should be attainable and quantifiable.  You would want your success to be as measurable as possible. Make changes if/when necessary- There are rough drafts even in business plan writing.  Do not be adamant with what you have written initially and be open to expert suggestions from people who have been in your position a long time ago and have managed to make it big.

Since it is your business, it is only fitting and proper that you author the business plan.  However, keep an objective and realistic view in taking on the task.

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by noii’s

Preparing A Successful Hotel Business Plan

==The Hotel Business Plan Should Be One Of The First Things You Should Do When Starting A Business==

Of course running a successful hotel means much more than just opening the doors and waiting for guests to arrive. The successful hotel business will need a polished and professional hotel business plan.

This business plan should be one of the very first documents you create, and it should be completed before the first bed is made or the vacancy sign is erected.

==It Is Important To Be Prepared For Financial Cost==

That is because any lender or potential business investor will want to look at, and carefully examine your hotel business plan before providing you with the startup cash you need to get the new venture off the ground.

The startup costs for a hotel business can be quite high, and it is important to be prepared for them. Few new businesses can succeed without outside investment, so it is important that your business plan tell outsiders why your business will succeed.

==Address Any Potential Pitfalls Or Problems==

Of course, it is important that the hotel business plan you create honestly address any potential pitfalls or problems that the new business may face.

business planning | Business click here

There are a number of hurdles specific to the hotel industry, including the ability to attract and retain qualified staff members, legal liability issues, the level of local and area wide competition, etc.

It is important that the hotel business plan address these issues head on and explain how the business owner plans to overcome each of these obstacles.

There is no doubt that a successful hotel business can be quite a lucrative venture. Travel and tourism is a booming business, and creating a well thought out and professional looking hotel business plan is your first step to success in this exciting industry.

In this series, I discuss the major sections that are typically found in a business plan. I also mention some of the key mistakes to avoid when writing a business plan.

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by Esthr

Business Plan

Do you have a business plan that works?

Any business however big or small cannot function without a plan. But not every business succeeds as well as some others. Does success depend on the product, the location etc? No not really. It depends on how good your plan is.

What should a good business plan do for you?

A good plan for your business will spell success all the way. It should tide you over a market slump, enable you to grow and it should maximize your earnings. In short a good plan will keep you away from the failures list. A plan that is stable can not only make sure that you survive in the market but it can also help evaluate your risks to decide whether or not you should turn them into opportunities. It also acts as a device to maximize the kind of profits that you make.

Do online plans work?

Yes, most business plans that are available are excellent products. A typical online business plan would be in the form of an e-book. You can choose to download this book and use a soft copy of it for your reference or you can even print it out. Your plan should also be a survival kit for your business. Some publishers even help you with coaching and risk profile creation. The business plans that are available online cater to different kinds of businesses from small to large. Therefore you need to make sure that you are buying a manual for the appropriate plan – as well as a survival /risk management guide.

Ordering business plans online

Ordering a business plan online is a very simple process. It is just like making any other online purchase. However before you actually buy the plan, here are a few things you might want to check on first:

The credibility of the company selling the plan The cost The refund and return policy Term and conditions of usage Customer support Product delivery etc.

Make your purchase only after you are satisfied with all the parameters involved.

by Old Shoe Woman

Steps involved in making your Business plan presentation more interesting:

Once you have finished with your business plan, next step is to make a business plan presentation that is used to tell investors and lenders about your business, in brief. It is necessary that a business plan presentation you have made; look professional and interesting. It will not make your audiences bore because business plan presentation is like a road map to long-term success. It can give you success and on the other hand, it will lead your business towards failure.
Following are some steps involved in making business plan presentation that will keep the audience interested and engaged:
Images: Collect the images that you want to add in your business plan presentation. Make sure your images must be according to your business type. You can get number of images on Google images. Visuals will enhance your speech and this will attract the audiences.
Cover page: This is the most important slide of your presentation. It is necessary that the cover page of your business plan presentation is that powerful that it attracts potential investors and lenders and create curiosity in your target audience, about your presentation.
Text: A business plan presentation must contain information about your business plan, in a concise manner. If you add too much irrelevant information, the audiences will not take your presentation seriously. An effective business plan presentation must be a conversation with your target audience. You are giving presentation, not telling a story, to your audiences. Use bullet points, instead of long paragraphs. You can make your presentation more powerful by using tables, images, audio, and video; this will create interest in your presentation. Make sure the graphics you use in your business plan are attention catching.
Question: Give space to your audience, so that they ask questions from you, if anything is not understand by them. This will leave good impression on your audiences.
Conclusion: End your business plan presentation by summing up everything, which you have included in the entire presentation.
End slide: End your presentation with “Thank you”. It’s better to give your contact number in last slide so, that your potential investors and lenders can contact you easily.

Find out how you can quickly and easily use a sample business plan to write your company’s business plan. Just download the plan that’s right for your business and edit the document to reflect what your company is all about. And that’s it! Sample business plans from sampleplan.com make the task of writing a business plan easy, fast and smart. Download yours now at www.sampleplan.com.

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by static416

Re-Examine Your Dollar Store Business Plan Annually

Those who know how to start a dollar store recognize the true value and importance of their dollar store business plan.  They know their business plan sets the course for their business in the years ahead.  Yet to maximize the value of a business plan it must be used on a regular basis.  It must become a part of the process to not only establish a dollar store, but to measure successes and to recognize where adjustments must be made to the business operation.  Your business must be thoroughly reviewed and updated on at least an annual basis.  In this article I present some of the actions that will keep your business plan producing the best possible support for you and your dollar store business.

· Those who know how to start a dollar store recognize the need to thoroughly examine every aspect of their dollar store business plan at least once per year. Examine your plan on at least a quarterly basis.  While your business plan is a powerful tool to continually move your business forward there is often not enough time to complete a line-by-line review during those quarterly examinations.   However since January sales levels are typically much lower than other months of the year it is the perfect time to schedule a thorough review and update of your business plan.

· Start by assessing how your business performed during the previous year.  Use the performance data and current market conditions to set everything in-place to have an even better year ahead.  Walk through your business plan step-by-step and then, being as neutral and impartial as possible to evaluate how your business performed during the previous year.

· Use your final assessment to determine where you did extremely well, and where there remains work to be done.  Modify your dollar store business plan accordingly.  Be sure to identify the actions required to accomplish exactly what you have planned for the year ahead.  Don’t forget to include money commitments, if required.

· Rewrite your business plan so it is updated to accurately reflect exactly the plans you have for the upcoming and future years. Those who know how to start a dollar store invest the time to make changes in their documented goals and actions.  They also commit the resources required for the actions noted. All of these come together as their newly revised and updated business plan.  Then they start moving toward every-better business results.

To your success as you discover how to start a dollar store!

What goes into a business plan and why you need one if you are in the business of making money.