Business Plans

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• Design Your Plan to Fit Your Business

  This article was taken word for word without permission. The original source is Hurdle: the Book on Business Planning, by Tim Berry. from Palo Alto Software, Inc. - 2 years ago

• Five Crucial Components of a Business Plan

  Get Your Free Business Plans NOW! Sample Business Plans | Free Business Plans | Business Plans The format of aBusiness Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work. When you create aBusiness Plan, don’t attempt to recreate its format. Those reviewing this type of document have expectations you must meet. If they do not see those crucial decision-making components, they’ll see no reason to proceed with their review of your business plan, no matter how great your business idea. Executive Summary Section EveryBusiness Plan must begin with an Executive Summary section. A well-written Executive Summary is critical to the success of the rest of the document. Here is where you need to capture the attention of your audience so that they will be compelled to read on. Remember, it’s a summary, so each and every word must be carefully selected and presented. Use the Executive Summary section of your business plan to accurately describe the nature of your business venture including the need that you plan to fill. Show the reasons why people need your product or service. Show this by including a brief analysis of the characteristics of your potential market. Describe the organization of your business including your management team. Also, briefly describe your sales and marketing plan or approach. Finally include the numbers that those reviewing yourBusiness Plan want to see – the amount of capital you seek, the carefully calculated sales projections and your plan to repay the loan. If you’ve captured your audience so far they’ll read on. Otherwise, they’ll close the document and add your business plan to the heap of other rejected ideas. Devote the balance of your business plan to providing details of the items outlined in the Executive Summary. The Business Section Be sure to include the legal name, physical address and detailed description of the nature of your business. It’s important to keep the description easy to read using common terminology. Never assume that those reading your business plan have the same level of technical knowledge that you do. Describe how you plan to better serve your market than your competition is currently doing. Market Analysis Section An analysis of the market shows that you have done your homework. This section is basically a summary of your Marketing Plan. It needs to show the demand for your product or service, the proposed market, trends within the industry, a description of your pricing plan and packaging and a description of your company policies. Financing Section The Financing section must show that you are as committed to your business venture as you expect those reading your business plan to be. Show the amount of personal funds you are contributing and their source. Also include the amount of capital you need and your plan to repay this debt. Include all pertinent financial worksheets in this section: annual income projections, a break-even worksheet, projected cash flow statements and a balance sheet. Management Section Outline your organizational structure and management team here. Include the legal structure of your business whether it is a partnership, corporation or limited liability corporation. Include resumes and biographies of key players on your management team. Show staffing projection data for the next few years. By now you’re probably thinking that you don’t need business plan just yet. Well you do, and there is business plan building software that can help you through this immense project. These software packages are easy to use and affordable. Use one today and produce a professional-quality business plan – including all critical components – tomorrow! Article Source: http://EzineArticles.com/?expert=Cavyl_Stewart - 2 years ago

• Why write a business plan

  Here is a quick guide as to why a company needs a well researched business plan. 1: More companies stay in business Studies by organisations such as business link show that companies that are in business and generate higher than average profits mostly have a business plan that they follow. 2. You can understand what to do Not knowing why things go wrong, why customers don't buy or return, why your competitors are better or more respected than you is a recipe for disaster. Your plan will help you analyse your business 3. You can allocate finite resources better No company can do everything. You will need to prioritise the work required in the coming year. Choose no more than 7/8 key projects to work on and you will see the results. 4. You will understand your finances If you are always overdrawn at the bank or find it difficult to get new finance then you'll need to forecast your sales and costs. But what are they? Work all of this out with your plan. 5. Everyone is aware of your plans You and your staff, bank manager and other interested parties all need to know the direction the company is going. This is important to pull everyone into the same direction and develop good teamwork. It also saves some people doing things that are not priorities in your business. These are the five key areas. Planning helps you understand your business. It can be frustrating when there are no customers about and you don't know why. Planning helps you look at your own business and the businesses of others to get the best of everything. View Article Source - 2 years ago