...20 Reasons Why You Need a Business Plan Categories: * Business Planning 1. To prove that you’re serious about your business. A formal business plan is necessary to show all interested parties -- employees, investors, partners and yourself -- that you are committed to building the business. 2. To establish business milestones. The business plan should clearly lay out the long-term milestones that are most important to the success of your business. To paraphrase Guy Kawasaki, a milestone is something significant enough to come home and tell your spouse about (without boring him or her to death). Would you tell your spouse that you tweaked the company brochure? Probably not. But you'd certainly share the news that you launched your new website or reached $1M in annual revenues. 3. To better understand your competition. Creating the business plan forces you to analyze the competition. All companies have competition in the form of either direct or indirect competitors, and it is critical to understand your company's competitive advantages. 4. To better understand your customer. Why do they buy when they buy? Why don’t they when they don't? An in-depth customer analysis is essential to an effective business plan and to a successful business. 5. To enunciate previously unstated assumptions. The process of actually writing the business plan helps to bring previously "hidden" assumptions to the foreground. By writing them down and assessing them, you can test them and...
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...THE BUSINESS PLAN ROAD MAP TO SUCCESS Exercise Workshop Objectives By the end of this exercise, you should be able to: • Understand the role of the business plan. • List several reasons for developing a business plan. • Identify sources where you can get help in developing a business plan. • Identify the type of information to include in the business plan. • Prepare an outline for a business plan. All SBA programs are provided to the public on a nondiscriminatory basis. www.ebusinesshelpcenter.com Thousands of eBusiness & eMarketing eBooks 100% Free Downloads Plus Resources To Guarantee Your Success With Your New Or Existing Online Business Free Website Hosting Free Traffic Generators Free Advertising Free Ebook Compilers Free HTML Editors Free FTP Software Free Email Auto-Responders Free Bulk Email Software Free Up-to-Date 80 Million Opt-In Email Lists Free Web Positioning Tips Free Ready to Go Turnkey Websites Free Replicate Any Website Free Tutorials for Everything Free Web Page Creators Small one-time lifetime membership fee then everything is FREE!!! BUSINESS PLAN OUTLINE Below is an outline for a business plan. Use this model as a guide when developing the business plan for your business. Elements of a Business Plan 1. Cover sheet 2. Statement of purpose 3. Table of contents I. The Business A. Description of business A. Marketing B. Competition C. Operating procedures D. Personnel E. Business insurance G. Financial...
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...Sample Business Plan (A Service) SMITH E-COMMERCE CONSULTING Mary Smith July 12, 2011 Section 1: The Business Profile| Description of My BusinessI plan to provide a complete service for the design, installation and maintenance of E-commerce marketing functions for my retail clients. I intend to evaluate the success of each installation and follow up to make changes to improve the effectiveness of the each site.| Targeted Market and CustomersMy customers will be small businesses that can enhance their present sales by the utilization of E-commerce. Typical clients will require sites for the dual purpose of providing 24-hour information to customers as well as providing a purchasing venue. Potential clients are businesses in which E-commerce can provide additional incremental sales. The businesses will range widely: from restaurants to neighborhood drug stores.| Growth Trends In This BusinessThe market for my services is growing at an unprecedented rate. In 2004 and 2005, year-end holiday shopping increased 25% each year. Can you document from trade sources the anticipated rate of growth of your industry? If industry sources are not available, you will need to give a logical explanation as to the trend and potential of your intended market. This segment will provide you and your backers with information as to whether your market is growing or shrinking. | Pricing PowerInitially, my pricing power will be limited by what...
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...Business Plan Criteria The Advance | Represent a significant advance on the current offerings or practices in a particular market | IP Position | Offer a realistic chance of establishing defensible intellectual property | Status | Propose offerings which have undergone significant real world testing | Capability | Are backed up with sufficient resources and business capacity to execute on the opportunity | Validation | Have been tried and vetted by a representative group of customers | Marketing Plan | Have a realistic and detailed marketing plan | Management Team | Are backed up with a management team with sufficient experience and education to execute the plan | Investment Offering | Have a favorable investment structure | Market Size and Share | Target a large and attractive market and the chance to capture a significant portion of it | Competition | Don't face competitive threats that are too entrenched or powerful | ROI | Represent an attractive return on investment | An investor will be interested in long-term profit he can make from investing. In other words, he will look closely at the viability and growth possibilities of your project. Equally, he will want to identify potential exit routes at the time of investment. He will therefore focus on management information, marketing and sales perspectives, and naturally, on the finance. Team — Can you demonstrate years of operations experience in a similar industry? Do you have real...
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...UNIQUE INTERNATIONAL COLLEGE BSB60407- ADVANCED DIPLOMA OF MANAGEMENT BSBMGT617A- DEVELOP AND IMPLEMENT A BUSINESS PLAN ASSESSMENT TASK 1- ANALYSE A BUSINESS PLAN STUDENT NAME: MA. REBECCA M. BEREDO STUDENT ID: UIC0159 Compare and Contrast the business plan of the quality training business plan and gallery/coffee. BUSINESS PLAN 1 Areas | The quality training business plan | Objective | The company objectives of quality training are: a) To provide complete financial projection of plan year b) To present a written document for the management of the development business and training c) The participants of this business plan includes the company owners and the representatives from the State Training Authority | Mission | Company mission statementThe Quality Training mission is to go beyond the expectations of our customers by providing them with efficient development services and training, related to their needs and in line with the national quality standards.Vision statementQuality training vision is by giving excellent customer service and will satisfy and expand its customer base | Key to success | The key to success for Quality Training are the following: i. Relationships- retain loyal customers ii. Quality- by giving them high standard training materials, delivery and follow-up iii. Consultation- customers’ consultation and efficient training needs to ensure that the good training is delivered to the right people iv. Market and networking-...
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...BUSINESS PLAN OF NEW VENTURE 1.What is a Busines Plan? * A written document that serves as a blueprint and guide for a proposed business project that one intends to undertake; 2. What are the purposes of a Business Plan? * To allow the entrepreneurs to view and evaluate the proposed business venture in an objective, critical and practical manner; * To analyse and evaluate the viability of a proposed venture * As a guideline for managing the business * To allocate business resources effectively * To convince relevant parties of the investmet potential of the project 3. Components of a Business Plan What comprises of a Business Plan of a Proposed Business: It consists of the following sections: 1. Introduction 2. Purpose 3. Company background 4. Owner/Partners background 5. Location of the business 6. Administratiove plan 7. Marketing plan 8. Operations plan 9. Financial plan 10. Conclusion 1. INTRODUCTION SECTION includes: a. Name of the company b. Nature of business c. Industry profile d. Location of the business e. Date of business commencement f. Factors in selecting the proposed business g. Future prospects of the business 2. PURPOSE Every Business Plan is prepared with a particular purpose. Or as a guide for the entrepreneur to manage the business. Eg. This business plan is prepared by Riverside Thai Food Restaurant as a guideline for managing the proposed...
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...Business Plan for a Startup Business The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan. It contains more than 150 questions divided into several sections. Work through the sections in any order that you like, except for the Executive Summary, which should be done last. Skip any questions that do not apply to your type of business. When you are finished writing your first draft, you’ll have a collection of small essays on the various topics of the business plan. Then you’ll want to edit them into a smooth‐flowing narrative. The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later. This business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances. Before you begin, review the section titled Refining the Plan, found at the end. It suggests emphasizing certain areas depending upon your type of business (manufacturing, retail, service, etc.). It also has tips for fine‐tuning your plan to make an effective presentation to investors or bankers. If this is why you’re...
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...1.0 Introduction 0. Name of the company Serbanakal 1. Nature of business Serbanakal focuses on selling Islamic posters. Instead of selling Islamic poster we are also do charity work. Each unit of poster sold will be donated 20% , which 10% goes to the orphanage and other 10% goes to the “Telekung Project”. 2. Industry profile Serbanakal was established to give the best Islamic posters to people. We believe that there are not many businesses which offer the same service as we given here. 3. Location of business Because of this is a small business, we did not have the specific place or outlet. We just selling these posters through social website and event or exhibition that we join. 4. Date of commencement Our company operation on 10 August 2010 5. Factors in selecting the proposed venture We choose for this business because evangelize the Islamic faith through posters, for the purpose of Islamic Da’wah and Islam education, Insha’Allah. 6. Future prospects of the business Our future plan for the business we will design Islamic t-shirt, mark and etc. Insha’Allah Business Logo [pic] The name ”Serbanakal” • It represent the name of our business. The actual word is “Serban Akal”, it’s based on the way people say that name. “Serbanakal” it stand for the top of our body...
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...Loan Request for 950,000 Dear Mr Joss, With 30 years of management experience in the residential Temporary Services business, we are requesting a loan to start our own Temporary Service business, called Tyne’s Temporary Services. The climate for a successful temporary services business is perfect.Last year, the number of new jobs request for workincreased by 45%. Just this quarter, new building,and jobs are up to20% over last year.Of the 55,000 jobs created 4000 jobs last year. Our target marketing owners of new and old businesses of jobs. We plan to reach them with focusing on businesses, which you will read about in the plan. In addition, we have good working relationships with many jobs,who have indicated they will refer to their clients job. We are investing 81K in saving and are requesting a $950K loan from your bank. We would like five years to repay the loan, using the cash flow of the business. Our secondary source of repayment will be from creatingjobs.Our home and businesses assets, valued at 950K, are offered as collateral for the loan. Our business plan is attached. In it you will find the information you need. If you have any questions or need more information, please contact Mr. Joss at (567) 456-6789. Respectfully submitted, Tyne’s Ashle Lee Temps Tyne’s Ashle Lee Temps [pic] Plan for Tyne’s Temporary Service Contact Information: 9572 Ashley Drive Shreveport, Louisiana 71101 Phone:...
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...Project Assignment for AD 408 Fall 2012 students PREPARATION OF A BUSINESS PLAN The task is to prepare a concise business plan for a small to medium size business. The presentation has to be in the standard format summarized below. The business area will be chosen by the student. The recommended industries are: Foods, Web based service businesses, Tourism, Logistics Small Size Manufacturing. However, other suggestions with good reasoning behind them can also be accepted after discussion. Conditions / requirements: 1. The business can be a new start up or an acquisition; an imaginary plan or a real life acquisition. 2. Group work is not allowed. Each student will submit his/her own project. 3. The total length of the document should not be more than 10 pages. 4. The chosen business, with a one paragraph description, will be e-mailed to the instructors latest by 30th October 2012 Tuesday. 5. The deadline for submission of the project (word document/hard copy) is 10th December 2012 Monday. PREPARATION OF A BUSINESS PLAN, AD 408 Fall 2012 Standard format for the contents: 1. Executive summary – one or two pages summarizing the purpose, mentioning the key highlights 2. Business definition – key features of the business operation 3. The description of the competitive environment (general and the industry) and the market assumptions used in business justification (how big? growth? how much?) 4. Key Success Factors (KSFs)...
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...Executive Summary SoulSpace aims to be the premier spa/salon in the Raleigh, NC area. Through a unique combination of offered services and products, they will quickly gain market share. SoulSpace will provide customers with a relaxing, rejuvenating atmosphere where all of their mind and body needs can be met. The business will be set up as a partnership with Steve Long, Debby Long, and Linda Hill-Chinn owning equal portions of the operation. Products and Services SoulSpace offers a wide variety of mind and body healing services and products. The salon aspect of the business will provide both males and females with any type of hair styling services. The spa business is devoted to providing holistic methods of massage, body work, and energy work. This is all done in a relaxing, serene setting. Location SoulSpace has chosen Raleigh, NC as their city for the business venture. Raleigh has consistently over the last few years been voted the best place to work and live in the USA, frequently making the top five and ten lists of Forbes, Money, and Inc. magazines. Raleigh has one of the most educated populations that loosely correlates to earning potential, or at least indicates a higher average household income. Additionally, the downtown area has undergone a recent renovation that has attracted a lot of new businesses as well as become a hot urban area. Competitive Edge SoulSpace's competitive edge is their unique combination of services, location, and customer-centric focus...
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... Graduate School of Management Course: Master of Business Administration Subject: Entrepreneurial Business and Planning Lecturer: Mike Turner Business Plan Submitted by: Shorya Dhameja 16431179 Date of Submission: 26th November, 2011 Mid Town Cafe Business Plan . Table of Contents 1. Business overview...................................................................................4 2. Product/Services..........................................................................................................6 3. Business structure and management...........................................................................8 4. Market analysis...........................................................................................................9 5. Competition...............................................................................................................12 6. Marketing Strategy....................................................................................................14 7. Finances.....................................................................................................................16 8. Action Plan............................................................................................................
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...Chapter 1 Executive Summary 1.1 Business Profile CRAFTSY MNL is a do-it-yourself inspired business which offers different kinds of purses including bags, pouches, and wallets. The business will be considered as merchandiser and distributors of the products offered. The name of the business means interest in arts and crafts. These products are made up of light-weight materials with designs that will define your personality to meet your expectations and satisfactions. The proponents will be in the form of the sole proprietorship so that it will be easier to register the business. One proponent will be the general manager of the business while the two proponents will be considered as investors who will be sharing to the business’s capital. As the business goes, profits and liabilities will be equally divided among the owner and investors. CRAFTSY MNL will be located in Brgy. 118 Zone 9 Tondo, Manila. The reason for choosing this location is that, there are a lot of people living in just one barangay and other barangays are just nearby the area. Schools, church and different establishments are also nearby the business location. That is why, there are a lot of students who are passing by the preferred store location. The main goal of Craftsy Manila is to let customers express their selves in a simple way using the purses that they will be purchasing from the business. 1.2 Management, Marketing & Financial Highlights The proposed business is in the form of sole proprietorship...
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...officer at a local bank to lend you money for your proposed business venture. A business plan is quite detail oriented and should be both informative and analytical (Crockett-Hoggard, 2014). Banks are number driven and risk factors are also considered when lending money. A personal loan and business loan have different underwriting guidelines. In personal lending, an individual with an 850 credit score typically gets better interest rates than someone considered higher risk at 650. A similar scenario holds true for business loans. For instance, a company with assets and receipts, at a brick-and-mortar location, is more likely to get funding than a home-based internet company. The first page of the report is a basic introduction, cover letter. The business plan Section 1.0 standard practice is to include an Executive Summary. The executive summary of a report is formal and impersonal. An Executive Summary is an overview of the most important aspects written in the business plan. It should introduce, describe the business, services and product, “but the purpose of writing an executive summary is also to deliver a hard sell. Convince your reader here that you have a great idea they should invest their time and/or money in.” (Berry, 2014) This is an essential aspect for readers required to make a fast decision. Additional elements like the purpose, scope, marketing, sales, and projections are all necessary for the business...
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...A good business plan business planning is well expressed as a general evaluation of an investor’s financial state is it current or an analysis to the future. These decisions can be based on individual or group that is looking for an expansion or establishing of a business that is already existing. Since funds play a greater role in the expansion, good steps on the way to handle the available funds are essential. Shan company will engage in a stiff competition if it plans to go overseas, the slope of this competition will generally depend on the available financial aid and the overall expenditure to keep the firm’s survival in the long run, these decisions play a greater role in the clinching of the ever available market in the states. The use of cash flows, current variables that are already known and asset values can be well applied in the process of building a strong financial decision. In the process of determining future certainty, many businesses tend to rely on the extrapolated asset values; this will tend to determine if the business has funds to sustain it in the long run. Through a comprehensive status many businesses can end up evading financial obligations, this will help in the generation of profits and maintain a positive pillar in its solvent status. There are various ways that a company can increase its overall revenue. The most common way for a public performing company is through shares or in the form of stock and bonds. Bonds allow a company to take loans...
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