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Showing posts with the label Business Plans

Your Business Plan Will Become Your Partner

Your Business Plan Will Become Your Partner
Are you​ planning to​ start a​ new business? Or are you​ considering expanding your current business and require a​ bank loan or​ investment from outsiders?
If you​ are going to​ look for an​ investment of​ capital it​ is​ quite likely that you​ will be required to​ have a​ business plan .​
If you​ are starting a​ business,​ despite the​ work involved,​ a​ business plan can prepare you​ for the​ obstacles ahead and help ensure your success .​
A business plan is​ something that many small businesses fail to​ create,​ however,​ many business owners are adamant that having a​ written business plan is​ one of​ the​ keys to​ their present success .​
Creating a​ business plan forces you​ to​ contemplate possible obstacles to​ your business and prepares you​ to​ find solutions that will help you​ to​ overcome them .​
To find investors or​ get a​ bank loan,​ they will want to​ see that you​ have the​ experience or​ resources to​ run the​ business .​

Your Business Plan 9 Places To Look For A Great Opening Line

Your Business Plan: 9 Places to​ Look For a​ Great Opening Line
There it​ is​ .​
That blank screen with the​ little blinking line .​
And everything sounds so mundane.
Jake’s Bakery will serve the​ best cakes in​ the​ county .​
I researched the​ industry and found that it​ is​ fail-proof .​
We came together to​ form a​ really good business .​
It’s kind of​ like,​ Hey,​ what’s your sign? Everybody knows why everybody is​ here,​ but can’t I​ come up with a​ better opening line?
Even the​ most prolific writers get blank screen-itis .​
To help you​ get back on​ your pizazzing path,​ here are some places to​ look for inspiration for your business plan.
1 .​
Your competitors’ websites .​
Seriously .​
Somebody put a​ great deal of​ time and effort into those websites .​
What do the​ headlines say? is​ there a​ neat turn of​ phrase that you​ can turn again into your business plan concept?
2 .​
Industry ads .​
Who better to​ put on​ your side that Madison Avenue advertising exec…

Writing A Business Plan

Writing a​ Business Plan
Preparing a​ business plan is​ the​ most important part of​ starting a​ business .​
So much rests on​ the​ business plan,​ from financing to​ suppliers .​
a​ business plan shows that you​ are prepared,​ educated,​ and dedicated to​ your business .​
a​ good business plan will define what your business is​ about,​ where you​ expect it​ to​ go in​ the​ future and how you​ will get there .​
The following outline the​ essentials of​ a​ good business plan.
1 .​
Executive Summary - This explains about everything that is​ the​ rest of​ the​ business plan .​
It should be written to​ completely cover every aspect of​ the​ rest of​ the​ business plan .​
a​ good way to​ think about it​ is​ this may be the​ only part of​ the​ whole plan that gets read,​ so it​ should sell your business.
2 .​
Table of​ Contents - Do not elaborate .​
Keep it​ short and to​ the​ point .​
You get to​ explain later.
3 .​
Company Description - This should cover the​ basics of​ your business .​
What …

Writing A Business Plan Why It Is Worth The Time And Effort

Writing a​ Business Plan: Why It is​ Worth the​ Time and Effort
Are you​ thinking about approaching a​ Bank for finance to​ support your business? If you​ haven’t already gone to​ see the​ Manager then you​ may not know that the​ first thing he will want to​ see is​ your Business Plan.
Perhaps you​ are not convinced that all the​ time and effort needed in​ preparing a​ plan is​ essential; if​ so then here are the​ main benefits for both you​ and your business.
1. No matter how good a​ communicator you​ are,​ you​ will never be able to​ convey your vision for the​ business as​ successfully as​ a​ perfectly put together Business Plan .​
It provides a​ clear understanding as​ to​ what you​ want to​ achieve .​
It allows you​ to​ express your ideas in​ a​ clearer manner.
2. Too many times business owners try to​ sell their idea verbally and at​ the​ end of​ the​ interview with the​ Bank the​ Manager is​ none the​ wiser than he was at​ the​ start .​
I​ think you​ can guess the​ outcome of​ many…

Writing A Business Plan What Makes A Good One

Writing a​ Business Plan What Makes a​ Good One
Writing a​ business plan can be a​ lot of​ hard work or​ it​ can be great fun .​
An effective plan can help your company to​ greatness .​
a​ poor one can lead you​ out of​ business .​
No plan is​ like asking to​ fail before you​ even start .​
Not every business needs a​ 200 page bound business plan .​
However every business needs to​ have some idea of​ where they want to​ go and how they are going to​ get there .​
This article covers some key insights into writing a​ business plan that get your business to​ where you​ want to​ be .​
The first stage of​ any plan is​ ANALYSIS .​
You need to​ take a​ very objective look at​ a​ number of​ factors that may impact your business .​
There are many factors to​ consider but the​ two major ones are competition and your operating environment .​
Let’s look first at​ competition .​
Every business has competition,​ even if​ you​ think your product or​ service is​ unique .​
How is​ this? Well it’s quite …

Write A Winning Business Plan The Neatest Trick In The Book

Write a​ Winning Business Plan-The Neatest Trick in​ the​ Book
Writing a​ business plan sounds really tough,​ and it​ can be .​
But there are a​ number of​ things the​ smart entrepreneur can do to​ make it​ easier.
For instance,​ justwhatkindofstuffyouthinkgetsreadlikethis? Imagine pages full of​ that,​ with virtually no margins,​ no paragraph breaks,​ no breathing room .​
Lenders,​ investors and angel investors are confronted with piles of​ business plans like that every day.
Take a​ breath .​
Then lure your reader into the​ plan with snappy headlines and easy to​ read formatting.
Do you​ know why the​ Wall Street Journal and USA Today use headlines? Because it’s the​ only way anyone will read a​ story .​
More to​ the​ point,​ it’s the​ only way anyone will buy their paper .​
(Mmmm,​ sounds like you​ may have something in​ common with newspapers.)
Take a​ look at​ your favorite newspaper .​
Those headlines tell a​ story .​
Sometimes they ooze with conspiracy,​ and once in​ a​ while they s…

Why Do I Need A Business Plan

Why do I​ Need a​ Business Plan?
Having a​ business plan is​ a​ very important tool in​ business,​ however there is​ no point having a​ fantastic plan and then hiding it​ in​ your bottom draw.
A business plan is​ simply a​ written plan that incorporates the​ many aspects of​ your business,​ for example; financial,​ marketing,​ short and long term goals,​ time appreciation .​
A business plan will give a​ business owner a​ good idea of​ how much investment is​ required in​ specific areas of​ the​ business .​
If you​ are thinking about requesting financial assistance from a​ bank,​ a​ business plan is​ a​ must .​
a​ good business plan will demonstrates the​ amount of​ money needed to​ spend on​ specific requirements at​ the​ right time.
Good business plans will also include the​ quality and rate of​ raw materials used,​ the​ cost of​ advertising,​ the​ prospects of​ importing or​ exporting and transportation requirements .​
The plan can also deal with partners,​ staff requirements,​ legal,​…

Why Business Plans Don T Work And What To Do About Yours

Why Business Plans Don't Work And What to​ Do About Yours
I am often asked to​ assist with writing business plans .​
While a​ business plan is​ often needed when you​ are getting financing for your business,​ I​ find that most business owners don’t find them very useful .​
Why not? Because usually they are written from a​ very long term frame (typically five years) and once they are written,​ they are put on​ a​ shelf and never looked at​ again .​
I’m going to​ suggest some ways that you​ can get more out of​ your business plan.
1) Review your business plan frequently .​
Business plans aren’t meant to​ be static .​
They are mostly a​ long-term strategic tool,​ but to​ be effective you​ need to​ look at​ them regularly and update your strategies .​
How often? I’d suggest quarterly .​
Look at​ which of​ your strategies are working and which aren’t .​
Do more of​ what works and less of​ what doesn’t .​
Ask yourself why some are working and some aren’t .​
What can you​ learn to​ make yo…

What Is A Business Plan

When you​ have a​ home business,​ you​ might not have thought about a​ business plan,​ but you​ are going to​ need one,​ and you​ should do your best to​ make sure that you​ have one set up before you​ start with your business. This is​ something that you​ need,​ no matter what type of​ business you​ have,​ and no matter how you​ plan on​ going about your future with the​ home business. a​ business plan is​ going to​ be a​ must,​ so be sure that you​ have one set up.

What is​ It

When it​ comes to​ your business,​ you​ are going to​ need a​ business plan. Remember that a​ home business is​ always going to​ either offer a​ product or​ offer a​ service in​ exchange for money. This is​ an​ over-simplification,​ but it​ is​ the​ one rule that you​ can stand by. you​ need to​ be able to​ make money,​ so you​ need people to​ pay you​ for your service or​ for whatever item you​ sell. the​ business plan,​ then,​ is​ a​ way of​ setting this up and making sure that it​ is​ going to​ work. in​ your…

Wedding Plans Getting Down To Business In The Honeymoon Suite

Wedding Plans are similar to​ that of​ a​ business venture,​ in​ what way you​ ask,​ well usually there is​ a​ partner involved then the​ initial expense outlay followed by commitment and last but not least the​ most important part of​ the​ deal is​ to​ have success on​ the​ day and for the​ future.

Your wedding day without doubt is​ going to​ be one of​ the​ most special days in​ both you​ and your partners life so it​ is​ important to​ let wisdom take centre stage when drawing up your wedding plan list,​ e.g. learn by others mistakes.
Mistakes like going over the​ budget - clashing of​ colours with the​ bridal gown even wrong choice of​ venue or​ flowers can spoil the​ day.

After the​ date has been finalized for your wedding make sure that you​ remember to​ prioritize your wedding plans to-do-list by having your future husband/wife at​ your side when making decisions - by doing this any likes or​ dislikes from both parties can be amicably solved therefore preventing any arguments befo…

Web Business Overview Have A Plan

So you've decided you'd like to​ go into business on​ the​ web,​ eh? This article will give an​ overview of​ options that are available for your web business and will help to​ give you​ an​ idea of​ what goals should be set for your project.

After deciding to​ be a​ web entrepreneur,​ the​ next step is​ to​ create a​ business plan. Business plans are as​ essential to​ a​ web entrepreneur as​ blueprints are to​ a​ construction worker. to​ build a​ business most efficiently,​ you​ must first be an​ architect and plan how you​ would like your business to​ look,​ what it​ will do and how your goals will be accomplished.

There are many ways a​ person can go about making money with the​ Internet. Options include selling products as​ a​ wholesaler or​ retailer,​ selling services,​ promoting products or​ services as​ an​ affiliate partner,​ selling advertising,​ selling email or​ demographic information,​ selling subscriptions to​ sites and any number of​ other ways and combinations of​…

Truck Driving School Business Plan

Want to​ Set Up Truck Driving Schools?
Heres a​ Great Business Plan...
Are you​ one of​ those truck enthusiasts who love the​ sight and roar of​ trucks? If you​ are,​ then setting up a​ school in​ truck driving could be a​ good business for you​ .​
But,​ of​ course,​ just like any other business,​ before plunging into what the​ trade has to​ offer,​ it​ is​ wise to​ test the​ waters first .​
the​ best way to​ do so is​ to​ have a​ business plan .​
Most truck drivers,​ before actually taking the​ practical road exam,​ enroll in​ a​ truck driving school .​
These types of​ schools offer instruction programs in​ truck driving which would help prepare the​ driver pass the​ difficult written exam to​ procure a​ license .​
To be able to​ start a​ truck driving school,​ one needs to​ have a​ large amount of​ capital .​
you​ should be prepared to​ shell out at​ least $10,​000 and the​ maximum capital investment could be as​ high as​ $50,​000 .​

But there’s no need to​ worry .​
This type of…

The Tea Room Business Plan The Value Added Proposition

The Tea Room Business Plan - the​ Value Added Proposition
Business does not exist in​ a​ vacuum and you​ will not be successful just because you​ are a​ nice person .​
Business doesn’t work that way .​
All business represents an​ exchange of​ one form or​ another and the​ exchange is​ usually facilitated by money .​
The essence of​ the​ exchange however is​ the​ perceived value added on​ behalf of​ the​ customer .​
If your customer perceives that your offering adds value to​ their life or​ business,​ then there is​ a​ good chance that customer will do business with you​ if​ you​ ask for his business .​
Without perceived value added however,​ you​ will not get the​ business and your business will fail .​
It is​ as​ simple as​ that .​
But remember that value must be perceived and communication to​ customers and prospects is​ as​ important as​ the​ value itself .​
What are the​ ways to​ establish perceived value in​ a​ Tea Room Business?
First,​ understand the​ world of​ tea .​
Tea educat…

The Tea Room Business Plan Mission Strategy And Tactics

The Tea Room Business Plan Mission,​ Strategy and Tactics
Since the​ tea room is​ a​ relatively simple small business,​ an elaborate mission statement is​ overkill. the​ entrepreneur should decide the​ reason for the​ business and what goals the​ business should accomplish.

An example of​ an effective mission statement is​ the​ Blue Ridge Tea Room is​ a​ fictional tea room
The Blue Ridge Tea Room will provide only the​ highest quality,​ healthy products and services to​ loose leaf tea drinkers in​ an environment that is​ safe,​ comfortable and attractive and will encourage customers to​ make repeat visits.
What the​ mission statement accomplishes is​ the​ creation of​ what the​ tea room is​ and the​ reason for starting the​ business. it​ also acts as​ a​ framework for managing the​ long term growth of​ the​ business.
Tea Room Tip Keep the​ mission statement short and concise. Be willing to​ amend the​ mission as​ conditions change.
Simple but Effective Strategy

Strategy …

The Tea Room Business Plan Market Research

The Tea Room Business Plan Market Research
Market research is​ critical to​ achieving business goals but,​ like everything else,​ it​ can be overdone. the​ keys to​ good market research are relevance,​ focus and economy. This is​ especially true fro the​ tea room as​ a​ new business.
Initially,​ the​ entrepreneur must decide what their target market is. and research that market to​ collect relevant information. For tea rooms geographic relevance is​ important. Generally speaking,​ most customers will visit the​ tea room within a​ certain radius of​ the​ site.
Demographic information that is​ readily available should be filtered for geographic relevance.

Other filters for relevance should address issues like gender,​ purchases of​ loose leaf tea,​ standard of​ living,​ commitment to​ a​ healthy lifestyle,​ number of​ gourmet stores in​ the​ area and other characteristics.

Develop a​ profile of​ the​ specific characteristics of​ the​ ideal customer. Fo…

The Tea Room Business Plan Basic Concepts

The Tea Room Business Plan Basic Concepts
Business planning and the​ start of​ a​ new tea room venture is​ more of​ a​ process than an event. a​ new business is​ a​ separate entity that is​ very much like a​ garden planning is​ required to​ start,​ certain mandatory steps are required and constant management and pruning must occur to​ produce a​ successful venture.
This plan addresses the​ basic steps as​ well as​ business structure and management steps that are required for success.
The Basic Concept
The basic concept of​ the​ business plan is​ simple
• An Entrepreneur senses a​ market opportunity

• to​ capitalize on​ this opportunity the​ entrepreneur establishes a​ business entity

• the​ entrepreneur has a​ vision of​ the​ company for the​ future that foresees a​ healthy,​ growing,​ profitable company

• in​ order to​ reach that future vision,​ a​ roadmap is​ required that can be reviewed to​ determine progress to​ achieve the​ ultimate goal
Just like any important trip,​ …

The Importance Of Preparing A Business Plan

The Importance Of Preparing a​ Business Plan
While employment is​ a​ surefire way of​ securing your future,​ there are always those who believe that entrepreneurship should be a​ priority not only among those who are already established in​ life but also for students who have just finished their studies .​
Other people believe that getting involved with a​ profitable business is​ still the​ way to​ go if​ one wants to​ be financially successful in​ the​ future.
People who immediately go into business without any plan at​ all are the​ ones who end up with nothing at​ all,​ in​ terms of​ their capital or​ investment .​
This is​ because they have joined a​ war without carrying any weapon at​ all.
Starting a​ business is​ not an​ easy task as​ it​ requires the​ proper motivation,​ preparation and research .​
You do not go into business just because you​ have thought of​ an​ idea that you​ believe will strike gold and you​ want to​ implement it​ immediately .​
Of course,​ some do this but t…

The Importance Of Planning Ahead For A New Business

Although owning your own business may be the​ best thing you​ ever did,​ it​ can have serious drawbacks,​ when you​ first start out. People often have unrealistic ideas and expectations about running their own business,​ thinking that it's going to​ provide them a​ six figure income right from start,​ especially those who buy into a​ franchise or​ established retail business or​ those who join online affiliate programs.

When they see that they aren't earning as​ much as​ they thought they would,​ they begin to​ worry that they have made a​ mistake or​ that they have been scammed and start worrying about their income and how they are going to​ pay the​ bills. Making a​ business plan in​ advance solves a​ great deal of​ the​ stresses that are involved when you​ start building your business.

The reason many new business owners have trouble making money is​ because they fail to​ plan for the​ days that are going to​ yield less income. it​ can take a​ new business on​ average anywh…

The Importance Of Business Plan

The Importance Of Business Plan
Do you​ need more money to​ expand your business? If yes,​ you​ need a​ business plan .​
If you​ are starting a​ business,​ despite the​ work involved,​ a​ business plan can prepare you​ for the​ obstacles ahead and help ensure your success .​
Creating a​ business plan forces you​ to​ contemplate possible obstacles to​ your business and prepares you​ to​ find solutions that will help you​ to​ overcome them .​
Most of​ many small companies fail to​ create,​ however,​ many business owners are adamant that having a​ written business plan is​ one of​ the​ keys to​ their present success .​
In order to​ find investors or​ get a​ bank loan,​ they will want to​ see that you​ have the​ experience or​ resources to​ run the​ business .​
They will want to​ see your projected income as​ well as​ your suggested repayment plan already laid out .​
Taking the​ time to​ do this is​ not only important for them,​ but it​ gives you​ a​ measuring tool to​ verify if​ your busi…

The Importance Of A Solid Business Plan

If you​ are thinking about starting your own small business,​ one of​ the​ first things on​ your itinerary should be coming up with a​ smart and solid business plan. Without this plan,​ you​ will have trouble drumming up capital for your new business,​ you​ won’t have a​ good idea of​ what your goals are,​ and you​ will generally be like a​ ship at​ sea,​ without a​ compass and without any sense of​ direction. it​ is​ a​ cliché to​ say,​ “Those that fail to​ plan,​ plan to​ fail”,​ but it​ is​ as​ true now as​ it​ has ever been. Take the​ time to​ draw up a​ complete and thorough business plan and you​ will be that much closer to​ success when it​ comes to​ the​ starting of​ your own company. Banks will look at​ you​ more closely,​ you’ll be able to​ convince investors to​ part with their money,​ and you​ may even be able to​ take part in​ government programs to​ help your business get off the​ ground.

Before you​ get started,​ you​ should know there are different types of​ business pl…