Writing business plans will help the business move farther

Author: assignmentsolution

The future of any business is the business plan. Writing business plans are one of the most important things. Writing a business plan is all that is needed. The written business plan contains the goals of a business which the business is expecting to fulfill. A written business plan consists of the various products and services the business is planning to launch. The plan has the detail of what the company is expectation to carry out in the near futures. Many just write the business plan in a scrap of paper but there are specialist business plan writers to convert the information scribbled into a scrap to a final presentable draft. The importance of business plan is therefore unimaginable and so every company needs expert writers to formulate their plans.

As there are lots of details to be written in a business plan therefore the plan must be written down in an organized way. To write down the plan in an organized way business must hire professional planners. There are many business plan writing solutions which are available online. Hiring these services will prove to be very beneficial to the businesses. If you are thinking about starting a business you can hire these services. When you start a business you might require loans. These writing solutions built a draft of the business plan so that these are presented at the banks so that the loan is approved without any hassle. So now you understand why planning is necessary and why one needs to hire there planning services. These professionals who will provide your business with the plan are themselves business owners or experts in business planning. They understand the importance of business planning and the situations of business. They know that each business plan is unique and that each business requires a cu
stomized tailored plan.

A compelling business plan composed by these service providers has the following features-

•    Defining the business parameters

•    Formulating a loan application

•    Generate the equity funding

•    Define business policies and mention clearly about the business programs

•     Detailed explanation of the new product and services the company will launch and  even new expansion and campaigns

•    Establishing new business and review and course correction process

•    Detailed description of the agreements signed

•    Determine the value of the business when it will be on sale

Mentioning all these detail about business plan help in making matters and topics clear. Thus there will be no confusion of people involved getting confused.

Other than those instructions some important instructions are that the idea must be carried out clearly and precisely. There should be no confusions in any concept. The matter must be brief. Relevant charts and graphs should also be provided so that it becomes each to understand.

Hiring these services will help your company move ahead in future. The plans will help you business succeed and be successful. There are many companies online which provide such solutions. They are quite affordable so it is recommended that you chose them for business planning.

The business plan may be divided into three parts. These are; the business concept; the marketplace section; the financial section.

In the business concept section, you write about your organization, the service you plan to provide and how. In the market place section you discuss the potential buyers or customers, who are they and where also why you choose them.

You also describe your potential customers here. In the last, financial section you include the income, balance sheets, financial ratios etc. You may seek help from your accountants here.

A business plan, depending upon what you are using it for can be of various lengths. Typically it can be of about 20 pages in length. This isn\'t a norm though. The length is decided by the purpose.

Article Source: http://www.articlesbase.com/self-publishing-articles/writing-business-plans-will-help-the-business-move-farther-6506215.html
About the Author
Assignmentsweb is write up tells about the Writing Business Plans and Engineering Assignment Help Know more information please visit www.assignmentsweb.com

Writing a Powerful Business Plan: Key Questions You Must Answer

Writing a Powerful Business Plan: Key Questions You Must Answer
By Ken Hayward
The process of writing down a business plan requires dealing with the who, what, when, where, why, and how. We will be focusing in on logical, practical and methodical.
As a budding entrepreneur, a business plan serves as your road map for your business. With this, you will know where you are heading to and how to get there.
It also serves as a benchmark in measuring your progress. It contains an action plan and a set of strategies for your business to reach its maximum potential.
Logical - Creating A Marketing Plan
There must be a particular portion of the business plan dedicated solely to market analysis. In it, you must describe the profile of your target customer, the characteristics of the market, the competition, and your strategies in order to gain advantage over them.
In other words, this is a particular point wherein you need to have a marketing plan that will focus on the distribution system, products or services offered, price charged, and promotional efforts.
You need to describe your specific product or service in general terms and provide instructions how it will be utilized. This is also your opportunity to explain what your products or services are, their benefits and features, and other important facts your target market needs to know.
On the other hand, pricing must be based on the cost of doing business, expected competitive actions, your marketing goals, and the perceived worth of your products or services.
Moreover, the distribution portion of the marketing plan must describe how the products or services will be distributed. It must give details on how the product or service will be distributed or sold, may it be through retailers or direct sales.
Practical - Financial Plan And Legal Issues
As a rule of thumb, your business strategy must outline the most cost-effective and practical way to achieve each objective. With this, you need to have a financial plan which includes how much money will it cost as well as getting the needed funds.
Your financial plan is considered an essential part of developing an estimate of the profit potential and evaluating a new investment opportunity. This particular section must discuss the present financial status and the current forecast of your future financial statements. Your forecasts of revenues, expenses, and product demand must be as good as your assumptions, so they need to be realistic and valid.
On the other hand, you should also protect your business from imitators by giving importance to trademarks and service marks. With this, the marketing symbols of your company's products and services will be protected.
Methodical - The Implementation Of Marketing Plan
When creating a business plan, you must identify your strategy. In this connection, you must have an outline of the steps required to achieve the objectives and goals you have identified. This outline includes the day-to-day operations of your own business.
This also signifies market plan implementation. This is a particular point wherein you need to create an optimal combination of marketing strategies to get the attention of your potential customers.
Keep in mind that your business plan should also have an executive summary which gives highlights to specific features, such as your business mission and goals, products or services, marketing plan, management team, funding requirements, key elements of your daily operations, profit and cash forecasts, as well as return to the investor.
A Final Thought
As a budding entrepreneur, remember that a business plan can help you communicate your idea to your employees, potential employees and customers, and suppliers.
It will serve as your communication tool, that is why it must be carefully developed, comprehensive, and detailed. It will serve as a reminder of your objectives and plans, so always review your business plan.
It is best to review your progress on an annual basis for you to measure the actual performance of your business. Keep in mind that the market and nature of your business will change over time, so it is best to update and revise your business plan once a year.
Starting a small business involves building a strong foundation at the start. Budding-entrepreneurs can experience the most profitable success and rewards a new business can offer if correctly handled. Please visit my site/blog residing at http://publishtotheweb.com. This site has helpful tips, strategies and videos providing knowledgebase growth into starting a small business.
Article Source: http://EzineArticles.com/?expert=Ken_Hayward
http://EzineArticles.com/?Writing-a-Powerful-Business-Plan:-Key-Questions-You-Must-Answer&id=8544881

Writing a Business Plan Effectively for Free

Author: Darrel Giann

Writing a business plan can be a daunting activity if it is the first time you've tackled such a detailed, thorough project. Too often, entrepreneurs rely upon templates or a sample business plan as an example for their own proposal, and in the process lose the creativity and energy that they have about their idea. There are many options for writing a persuasive and effective business plan without spending a lot of money on a writing coach, proposal writer, or additional resources.

Web Resources

Chances are, you're already relied on the internet to gain guidance about projects you've never done before, or looked up instructions for a complicated process. There's a lot of information online about writing a business plan and you can easily find a sample business plan, but not all of that information is quality, or worth your time. So how do you effectively search for web resources that will actually help you instead of wasting your time? Much like any kind of internet research, the tip is to begin by using only credible resources. In addition to searching for 'writing a business plan', or 'sample business plan', type in 'business school' as well. Many business schools around the nation have free, available information for the public on how to write a business plan. They may include links to area-specific resources, or provide tutorials or downloads for a sample business plan.

Another great resource for writing a business plan is your local Small Business Administration center. Most major cities have these types of small-business assistance resources, either in a brick-and-mortar office or online. These SBA websites almost always offer comprehensive resources for start-ups like a sample business plan, business plan development ideas, events, counseling and training services, and local resources. Check to see if your SBA website has free, online business planning webinars. Even if you local chapter doesn't offer them, you can easily find a website in another region that does. These online seminars are typically self-paced, 30-minute long resources that help you understand the components of writing a business plan (which provide much more insight than a simple sample business plan), and may be offered in a variety of languages.

Podcasts are another web resource that not many people think of when they think 'business plan'. True, you don\'t get the same visual education from a podcast as you do from a webinar, but listening to someone describe the process might be just what you need to motivate you while on a long commute, at the gym, or sitting at home. And with a lack of visual information, they might seem less overwhelming than looking at an online presentation or sample business plan.

Books and Printed Material

The internet is a fantastic resource for writing a business plan, but for some people, nothing beats a good old-fashioned book. Your local library has entire sections dedicated to the multiple aspects of business development, and you can be sure to find several books about how to write a business plan. Best of all - these are free! If your local branch does not have the book you're looking for, check the catalog and request a book transfer. Sometimes, the perfect books about writing an effective business plan or ideas for a sample business plan are just an inter-library loan away.

Be sure to check out your local college library as well. Often, academic libraries will have more comprehensive business planning books than local libraries, and may offer a wider selection of in-depth materials regarding not only writing a business plan, but strategizing how to continue with your business development afterward. Keep in mind that many university libraries are open only to students, so call the resource desk before you make a special trip onto the campus.

Seminars

If you do have a SBA resource center in your area, check their calendar of events to see if they offer periodic classes or workshops, or can help you rework a sample business plan. Often, an SBA will offer a class dedicated to writing a business plan - at no cost! The advantage of attending a live seminar as opposed to an online seminar is that you can often ask the facilitator questions at the end which you can\'t do online. Typically, the person leading the course is a professional with years or decades of experience crafting effective business plans. They'll likely be able to assist you with tips, tricks, and shortcuts to develop a plan.

Finally, it's important to consider that when you're writing a business plan, you don't want to cut corners or rely on a sample business plan from a book or website. The business plan is a representation of your professionalism and your desire to succeed, and the quality of your content should reflect this. So while tips and tricks are good for making the most out of your time and resources, it's never a good idea to gloss over important aspects of your plan - namely, the quality of your writing. While writing a business plan necessitates the inclusion of facts, figures, numbers, graphs, financials, etc., the narrative surrounding the why of your proposal is what will likely draw people into helping you achieve your vision. Do you sound passionate about your product? Do you sound knowledgeable? Does it sound like you have what it takes to not only start your business but develop it and work through anticipated and unseen challenges? No? Does it sound like you relied on a sample business plan instead? Well it may be a good idea to check out some of the writing seminars available for assistance with writing a business plan. Many of these seminars do cost some money, although others can be attended for a very nominal fee. Courses like these can help you find your 'voice' and deliver a more compelling proposal.

The most important thing to consider when writing a business plan is to take your time, be thorough, be accurate, and above all, believe in yourself and your product. Don\'t just rely on a sample business plan, create a proposal that you\'re proud of, and that you are convinced will compel others to help you realize your dream.

Article Source: http://www.articlesbase.com/strategic-planning-articles/writing-a-business-plan-effectively-for-free-4230427.html

About the Author
Darrel Giann, a financial consultant and businessman, is the founder of Just $14.95.com, a website that helps people earn extra income by embarking on a career in finance. Giann, who faced financial struggles in his own life, now works to teach others how to get ahead in life, eliminate credit card debt, and achieve financial freedom. For more details or to begin making money for yourself, please visit www.Just14-95.com.

The Four Key Reasons To Write A Business Plan

Author: Mark Blayney

All businesses, of whatever size or stage in its development, need to have formal business plans in place, prepared by the management and not their accountants, and fortunately there are many now many free business plan templates available on the web to help you in business planning.

Why Prepare A Business Plan?

There are four main reasons why you should prepare a business plan. These are not mutually exclusive, and as the business changes and grows the business plan should be regularly revisited and reviewed since these issues will apply equally well to an established business as to a start up.

- The first is to plan in the widest sense. In preparing a business plan you are preparing first and foremost a plan and the process is one of thinking through what you are going to do in the business, how you are going to do it, what are the separate projects that will have to be completed to reach the end goal and when by, what resources you will need to have in place and when, what the risks are and how these are to be managed, and so on.

- The second is, as a result of setting out the plan of action, to assess and understand the likely financial performance and requirements of the business, the key sensitivities involved in your forecasts and the financial risks, and potential rewards involved.

- This is critical as the third reason for preparing a business plan, which is often seen by some managers, mistakenly in my view, as the real point of the exercise, is to provide it to investors or lenders in support of a request to raise funding.

- The fourth reason is to then provide an objective benchmark and milestones against which to judge the progress and success of the business.

So, whatever the initial reason for carrying out a business planning exercise, management should always use the process as a chance to genuinely plan the business, and not just as an exercise to produce a document that is never looked at again.

What Should A Business Plan Contain?

You can now find many examples of business plan templates on the web which will vary in the content and headers they use as there is no definitive list of contents. In general however, a business plan should cover the following items, which will provide a pack in a format that prospective lenders or investors will generally find acceptable.

- Company details including company number, registered office address and logo;

- Contents;

- Executive Summary - a brief summary of the plan covering all areas and being no longer than say 2 pages;

- History and Current Position;

- Products or Services;

- The Market;

- Operations;

- Management and Staff - including an organisation chart where appropriate;

- Financial Analysis - a summary of the financial projections;

- Investor or Funder Deal and Exit Plan - where the plan is to be used to raise finance you should set out here details of the support you are seeking and what is in it for the funder; and

- SWOT Analysis - a summary of the strengths, weaknesses, opportunities and threats facing the business.

The plan should also be backed up by appropriate appendices giving the financial information such as historical Statutory or Audited Accounts, up to date management accounts and three year financial forecasts, all of which should obviously tie in with the body of the plan itself. In addition there needs to be the non financial information required to support the plan which will normally include CV's for each of the Directors and any other key personnel, examples of marketing material, details of the business's professional advisors and any other supporting documentation that may be relevant such as significant new orders.

To What Extent Can Or Should You Vary The Format?

If you do use a business plan template, don't hesitate to tailor it to your business's particular circumstances. Every business has its own characteristics, and each writer will have their own style so every business plan will be different.

Whilst the headings given above are relevant for most businesses, the focus of attention will vary depending on the purpose of the plan and the intended recipients.

If the plan is being written for internal purposes then it may concentrate on tasks such as Marketing or Operations and be used to attribute tasks, set timescales, targets and rewards, and then used to help co-ordinate and monitor an agreed overall agenda.

If you are preparing the business plan to support an application for a loan then the financial and trading data, and in particular the cash flow analysis, will be critical parts of the document. Lenders will be particularly interested in the assets available as security, any other existing borrowing, and will closely scrutinise the detailed financial forecasts.

If the plan is to be shown to potential investors then you will need to be careful that you comply with the requirements of the Financial Promotions Order as failing to do so can lead to criminal penalties. Like lenders, potential investors will review the financial forecasts and proposal within the business plan, but they will also be looking to establish a potential valuation of the business at the time of the proposed exit.

What Makes A Good Business Plan?

As hopefully will be clear from the comment above, this will depends partly on what it is to be used for, however any business plan should be:

- Concise - it should be short and to the point;

- Comprehensive - a potential funder more likely to provide finance if they are able to clearly understand the product, market, funding requirement, opportunity, the skill sets of key personnel and the financial projections, then if they can't;

- Clear - it should be written in clear plain English, (and be properly spell checked and proof read), but the message or propositions should be clearly stated so that the target audience can understand what it is that you want from them, as well as the all important what's in it for them;

- Owned - you must clearly be able to present it and answer questions on it, including on the financial projections and assumptions, from potential backers.

The last point is a critical one. All too often when potential financial backers speak to business owners about the numbers in a plan that has been presented, they receive the answer 'Oh my accountant put the numbers together for me', which immediately raises questions about how realistic the forecasts are.

After all, if you don't understand what the projected financial performance of your business is, the how is a funder expected to believe that you can make it happen?

Article Source: http://www.articlesbase.com/business-articles/the-four-key-reasons-to-write-a-business-plan-4350324.html
About the Author
Mark Blayney is a business finance raising expert and business author. To request a free Business Plan Guide and Financial Forecast Template contact him at: http://www.business-loans-info.co.uk

Mistakes to Avoid While Writing a Business Plan

Author: Adams Brad

A solid framework is required to give wings to your business idea. Writing a business plan solves the purpose for achieving your dreams. It has the potential and capability to turns your dream business idea into a successful running business. Every business unit requires a business plan to be successful. There are different kinds of plans for different businesses; similarly, there is a gym business plan for gym business. Many people commit mistakes while drafting a business plan. These mistakes should be avoided as they can restrict your dream business from reaching new heights.

Writing a Business Plan with Just an Idea 

A business plan should reflect your thoughts and ideas through all the prospects before converting your business idea into a business plan. You must think about all the critical factors before writing a business plan. Your business plan should not look like a hastily compiled plan. Take your time to improve your idea and your business plan will automatically improve.

Outsourcing the Plan without Adequate Knowledge 

It is very easy to hire an agency for writing your business plan. In fact, there are pre-written plans available for any type of business. There is no harm in taking help from any agency or buying a pre-written plan. Keep in mind, that it is you who has to execute the plan in the end. You must understand the purpose of your business plan. Reading a document written by someone else does not solve the purpose. You must be aware about certain relations like, input and output, income and expenditure as well as assets and liabilities.

Outrageous Financial Projections

It is difficult to analyze if the financial projection will be accurate. Though, it is very easy to find out that they are realistic. Financial projections are more of a reality check. Follow a bottom up approach instead of a top down one while making financial projections. Any financial data, inconsistent with industry norms can be easily shelved down. While writing a business plan, try to work on attractive and realistic numbers.

Claiming No Competition 

Competition should be given due importance while writing a business plan. If you mention that you do not have any competition in the future then it gives an impression that you have no idea who your competition is. It is necessary to understand who your true competitors will be in the future. Every successful business has direct and indirect competitors. A business plan should include the contingencies for stiff planning right from the beginning. While drafting a plan, include in it, the ways to compete and do not forget to accentuate the competitive advantages in the business plan.

Unrealistic Assumptions

A business plan is full of assumptions. The most important assumption while writing a business plan is that your business will succeed. A business plan should highlight critical projections and should provide some sort of realization for them. A bad business plan can bury the projections. The areas where projections need to be made while writing a business plan are, consumer purchasing behavior, market size, time for commercialization and acceptable pricing. While making the projections, make sure to check against the benchmarks for the same industry. Assumptions should be made after conducting proper research. 

Writing a business plan helps you in refining your vision and executing a successful plan. Avoiding the mistakes while preparing a business plan will propel your business forward. Make sure you plan to succeed.

Article Source: http://www.articlesbase.com/strategic-planning-articles/mistakes-to-avoid-while-writing-a-business-plan-6164477.html
About the Author
MasterPlans is a renowned agency which employs highly skilled professionals. Writing a business plan comes naturally to them and they have done so for various organizations over the past ten years. They provide all types of business plans including gym business plan.

How To Write a Business Plan With Perfection

Author: Adams Brad

Being full of ideas and having ample information is not sufficient for creating a business plan. You can easily find a business plan template on the Internet and make changes in it. Such business plans go directly to a dustbin as they are nothing more than cast-offs for investors. Making a perfect business plan entails several steps of research, data mining, and analysis. Read the following points and get the solution to your doubts about How To Write a Business Plan.

Sound data analysis

Data analysis is an important step of the business plan writing process. It is conducted after you have collected all the data required for your business plan. Data analysis and secondary research also help in generating more ideas for your business. A business plan may need both qualitative and quantitative data analyses depending on the field of interest. You can bowl over investors through these analyses and easily persuade them to fund your business project. A sound data analysis of latest market trends and updates can make your business plan do wonders for you.

Graphs and charts

Adding graphs and charts to your business plan can support the analyses you have conducted and enhance the credibility of your business plan and its purpose. Graphs and charts make it easier to understand the financial information. It takes less time to look over a business plan with charts and tables and get the gist of your business financial outlook. You may also want to try creating a business plan presentation for investors. Doing so will make your plan more attractive and can also help investors understand it in a better way. But ensure that you do not use too many graphs or charts. The number of charts should be limited, and they should supplement the information written in your business plan.

Quality and comprehensibility

You business plan should convey every information about your venture that investors or other businesspersons would want to know and understand. Write all information in a lucid manner with brevity. A business plan should be written in a formal manner and should be appropriate as per the native language of its readers, investors in this case. You may want to send your business plan for an editorial review to enhance its quality. A well-written business plan without superfluous details is good enough to please your investors. 

Taking help of experts

You can create a perfect business plan if you consider the above points while writing. Do not exaggerate anything. Keep it simple with limited number of charts to support the factual data. Take the help of experts to review your business plan. 

Despite having various methods of writing a good plan in place, you may not have ample time to write the plan yourself. In such situations, hiring a business plan writer is the best option. Professional business plan writers know what can make a business plan perfect for a particular business or firm. There are some good companies that offer business plan writing services and use their advanced techniques to provide you with a well-researched plan to attract investors and capitalists. You save your time and many other resources with the help of such services.

Article Source: http://www.articlesbase.com/strategic-planning-articles/how-to-write-a-business-plan-with-perfection-6000780.html
About the Author
To know about modern Business Plan Consultant services, visit www.masterplans.com. Masterplans is an Inc.500 business plan writing company, which has created more than 10,000 business plans with thousands of jobs and opportunities.

How to Start a Business Plan

How to Start a Business Business Plan

By Brian Mahoney

Millions of people want to know what is the secret to making money. Most have come to the conclusion that it is to start a business. So how to start a business? The first thing you do to start is business is to create a business plan.

A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

A professional business plan consists of ten parts.

1. Executive Summary

The executive summary is often considered the most important section of a business plan. This section briefly tells your reader where your company is, where you want to take it, and why your business idea will be successful. If you are seeking financing, the executive summary is also your first opportunity to grab a potential investor's interest.

2. Company Description

This section of your plan provides a high-level review of the different elements of your business. This is akin to an extended elevator pitch and can help readers and potential investors quickly understand the goal of your business and its unique proposition.

3. Market Analysis

The market analysis section of your plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions. This section is usually presented after the company description.

4. Organization and Management

Organization and Management follows the Market Analysis. This section should include: your company's organizational structure, details about the ownership of your company, profiles of your management team, and the qualifications of your board of directors.

5. Service or Product Line

Once you've completed the Organizational and Management section of your plan, the next part of your plan is where you describe your service or product, emphasizing the benefits to potential and current customers. Focus on why your particular product will fill a need for your target customers.

6. Marketing and Sales

Once you've completed the Service or Product Line section of your plan, the next part of your plan should focus on your marketing and sales management strategy for your business.

7. Funding Request

If you are seeking funding for your business venture, use this section to outline your requirements.

8. Financial Projections

You should develop the Financial Projections section after you've analyzed the market and set clear objectives. That's when you can allocate resources efficiently. The following is a list of the critical financial statements to include in your business plan packet.

9. Marketing and Sales

Once you've completed the Service or Product Line section of your plan, the next part of your business plan should focus on your marketing and sales management strategy for your business.

10. Appendix

The Appendix should be provided to readers on an as-needed basis. In other words, it should not be included with the main body of your business plan. Your plan is your communication tool; as such, it will be seen by a lot of people. Some of the information in the business section you will not want everyone to see, but specific individuals (such as creditors) may want access to this information to make lending decisions. Therefore, it is important to have the appendix within easy reach.

How to make your business plan stand out.

One of the first steps to business planning is determining your target market and why they would want to buy from you.

For example, is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with customer needs? If you're unsure about the answers to any of these questions, take a step back and revisit the foundation of your business plan.

The following tips can help you clarify what your business has to offer, identify the right target market for it and build a niche for yourself.

Brian S. Mahoney is one of the nation's leading experts on business start ups and has written over 50 books on how to start a business View his free video on how to start a business and create a. business plan Right now. Get excited and image how great your life will be when you are finally learn all the secrets to making money right now!

Article Source: http://EzineArticles.com/?expert=Brian_Mahoney


http://EzineArticles.com/?How-to-Start-a-Business-Business-Plan&id=8517266

How To Make A Business Plan That Stands Out

How To Make A Business Plan That Stands Out

By Bryce P Edison

One of the first steps in developing a business plan is determining your target market and why they would want to buy from you. You need to answer some questions that will lay the foundation of your business plan.

Listed below are some tips that will guide you to clarify what your business offers, identify the target market for it, and build a niche for your business.

Be Clear About Your Business Offers

You need to answer this - aside from basic products or services, what else are you selling? Take this into account, in your town there are a handful of restaurants that are all selling the same product which is food. But each restaurant is targeting a different need of customers.

It could be that one is a drive-through fast food restaurant; another perhaps caters local delicacies in a country style kitchen, while another may be a fine dining restaurant that specializes in wood-grilled fare. All of these restaurants are selling meals, but they are selling to a targeted customer who is looking for the unique qualities that a restaurant has to offer. But the reality is, they are selling a combination of product, value, ambiance and brand experience.

Be sure to understand what makes your business unique if you are starting your business. You have to know what needs your product or service fulfills. You need to establish the benefits and differentiators that will help your business stand out from the competition.

Learn to Strategize and Figure Out Your Specialty

It is important that you have a clear definition of what you are selling. Do not try to offer anything that you are not sure somebody will like because this will have a negative impact on business growth. For a smaller business, the better strategy is to be able to do some important things really well rather than doing a little bit of everything but not really having a full grasp of one thing. To start off, you can offer specialized service or goods that can attract a specific group of prospective buyers.

Distinguish Your Niche

For your business to be successful, it is important that you will create your niche. Many business owners can easily identify a niche by using their own market knowledge, but conducting a market survey with prospective customers can help immensely in uncovering untapped needs. Here are some of the things you need to identify during the research process:

The areas that your competitors already exist

The areas that are underserved

You need to identify these opportunities and niche markets to help you in your business planning process, and this is essential to the success of a new business.

To get a business health check and to know what other aspects of your business that needs improving, visit Business Success Systems.

Article Source: http://EzineArticles.com/?expert=Bryce_P_Edison


http://EzineArticles.com/?How-To-Make-A-Business-Plan-That-Stands-Out&id=8654798

Effective Business Plan – The Surest Way To Make Your Business Succeed

Author:Pryor

There is no one right way to prepare a business plan. An effective business plan tells a great story and draws the reader in. The investor will then want to learn more, which leads to a meeting that significantly increases your chances and reduces the possibility that your plan will not be evaluated.

In the success of any business, planning is a vital ingredient. For building one's business now-a-days, developing a business plan is not just a requirement, but a basic necessity. Starting from large corporations to entrepreneurs, it is an honest truth that every business needs a plan. The business plan helps one map out strategies, raise additional capital either for expansion or to boost operations, measure performance, monitor progress and develop work guidelines. Several business owners, who want to franchise their businesses, also are planning to work around a franchise business plan.

In a business, there are certain things investors look out for. Every investor will want to know a business owner\'s passion, his dedication to his business and his managerial skills. Apart from this, he will also look out for one\'s management team. Every investor will always like to see his business associate\'s cash-flow, break-even analysis and return of investment. Therefore, a well prepared business plan is the key to attracting investors. If you are a franchisor, your franchisee will see the same in your franchise business plan and evaluate if this franchise has got enough substance for them to invest in it.

Writing a business plan must be managed just as most other important business projects are managed.It requires advance preparation, delegation, refinement, and discipline. The process ofpreparing a business plan involves identifying likely users, gathering accurate and convincing

Information and carefully outlining the plan before writing. The key sections of the businessplan are as follows:

Executive Summary: This is the most concise form of the business plan, covering all thekey points. Outside parties typically review the executive summary first to determine, if your company is a potential candidate before deciding to read further. As the most important part of your business plan, these sections should be prepared last.

Company Description: This first full section of the business plan covers the company\'s mission, history, current status, strategies, and plans for the future.

Management and Organization: Many potential investors consider the management team to be the most important predictor of a successful business. This section should describe members of the management team and their back grounds as well as needs for additional key people. Key outside advisors and consultants should also be discussed.

The Market and Competitors: This section must define the company\'s market, the industry, current and potential buyers, and competitors. The plan should explain the key factors for the market in terms of how buying decisions are made, how the market is segmented, what kind of market position you plan, and what sort of defensive strategy you envision to fend off competitors.

The Product or Service: In this section, the features, components, and quality of the product(s) or service(s) are described in detail. Issues that must be addressed are the amount of research and development remaining to be completed, how the product or service will be produced and at what cost, and how the crucial activities of quality control and after-sales service will be performed. Key regulatory considerations should also be addressed.

Marketing and Sales: The business plan must describe the company\'s selling methods (such as direct sales or mail order), how sales staff is trained, and how support is provided. Because of the substantial expense associated with business development, the plan should consider and present the most cost-effective options. Your marketing plan should discuss the results of market research and the value proposition of your product or service. Effective marketing, often through advertising and public relations, must also be described.

Financial Information: The most important elements of this section are the financial forecasts, balance sheets, and the statements of cash flow and income. They must be consistent with the discussion of the company\'s past performance trends and the data presented in other sections of the plan. For plans used to solicit financial backing, this section should also include a funding request that states how much money is needed, why it is needed, and how it will be used. Finally, you need to consider the likely payback for the investors and their need for an exit strategy.

Once all of these sections have been formulated, the plan is ready for final rewriting and presentation. Extensive editing is highly recommended, along with careful attention to presentation details. The plan should be tailored to the preferences and concerns of its readers, including insiders using the plan to guide the company. Given the dynamic markets within which growing businesses operate today, periodic revisions of the business plan will be necessary in order to maximize its utility as a tool for management and investors. A Franchise Business Plan is similar in nature, but covers several other sections which would be relevant for franchisees and covers franchise manuals and standard operating procedures as well.

So many businesses fail due to inadequate planning and the rate at which they fail is overwhelming. In small businesses, the rate of failure is highly significant and it is the main reason why a good business plan is needed. Developing a plan extremely important for raising additional cash and to provide potential investors, franchisees and lenders with the information required to make investment decisions. Due to higher competition in attracting funding for any business, one\'s business plan has to stand out and the projection has to be firm.Just like a road map, a good business plan shows one the route to avoid pitfalls and reach your destination smoothly. Working with a good plan will prevent one from entering unfamiliar territory. For you and your organization, the plan becomes a working map. It spells out the things to do and things not to do, the functions and how everyone within every department should operate. It helps one become more efficient, reduce waste and redundancy, channeling one\'s resources to rightful place and being a guide to the successful running of your business.

Article Source: http://www.articlesbase.com/franchise-articles/effective-business-plan-the-surest-way-to-make-your-business-succeed-5509577.html
About the Author
Sparkleminds consists of individuals with unmatched expertise in preparing franchise business plan, and outsource franchise sales. Their business plan aims at converting any kind of traditional business into a franchise business model. This particular article illustrates these aspects further.

Business Plans for Startup Funding

Author:Business Venture Solutions

Today, we are going to discuss the your design as it relates to the startup funding you need for a Small Business Administration loan or investor capital. This section of your business plan is usually unnoticed by means of a figure of persons with the purpose of are increasing documents specific in support of receiving financing. You be supposed to cover the target, within this sector the trade design, on the ways so as to you'll be expenditure the money that you are going to receive as it relates to your Small business administration finance acquisition or shareholder capital acquisition. Here, you should concentrate completely on the breakdown of how you intend utilize these funds which usually consist of inventory acquisition expenses, facility development expenditure, working principal, promoting assets, and additional expenses with the intention of are often correlated to the type of partnership with the intention of you operate.

Very general within this segment the commerce strategy, it is furthermore to confer a focus on shareholder equity if you are dealing with an person investor in order to receive investment intended for your business. Additionally, you're going to want to mention issues such as management equity, the structure of your Board of Directors, and the appropriate to employ usually we employ as it relates to your business operations. We strongly urge with the intention of you consult the US economic Census in regulate to wholly understand unerringly how much money your industry can be potentially worth be supposed to you decide to advertise it to a third-party small business owner.

If you're seeking capital from an investor than it is enormously essential for you to contain a well developed enterprise strategy is for the private placement memorandum with the intention of serves since the lawful indenture among you and a possible investor as it relates to the funds with the intention of you need in order to launch his partnership. A qualified law firm can generate your private placement memorandum and commonly worried with the securities-based attorney at law on an ongoing foundation consequently that you\'re able to added fully comprehend exactly how this manner workings along with how you can potentially raise capital from individual investors if you are seeking this type of funding.

The partnership design you should focus significantly the anticipated charge to profit multiple that you were seen as it relates to the specific databases with the intention of you're starting. We encourage you to review a number of papers we have produces on this web page so that you contain a better understanding of how to properly gauge what your company really value going its early original five years of operation. Also, when discussing exit procedures you should scrupulously focus on how you intend to hire a licensed commerce broker more mergers and acquisition-based investment bank that can assist you with properly selling the business and promoting it to a third-party capitalist. There are many articles on this internet site with the intention of will painstakingly discussed on the specific industry commerce exactly how these business owners are sold to third parties intended for a significant price earnings multiple.

Article Source: http://www.articlesbase.com/loans-articles/business-plans-for-startup-funding-5101150.html

About the Author
Download Free Business Plan Template No Registration Required!
Our website deals specifically with SBA Loan Business Plans

Do You Need a Business Plan to Get a Credit Line?

Author:Business Venture Solutions

When applying for a credit facility, you will most likely be required to have a well written business plan to showcase what you intend to do with the business loc. This may not be the case if you are using a home equity line of credit secured by your personal residence. If you are seeking to obtain a standard business line of credit then you will most certainly be required to have a business plan. BusinessLOC.com has a sample business plan outline that you can use to develop a plan that showcases how you intend to use the debt proceeds.

The key to a good business plan is to have a 25 to 45 page summary of your business, how you intend to use the capital sought, a description of the product/service you a selling, and a three year financial model that showcases you previous and anticipated profit and loss statements, cash flow analysis, balance sheet, and breakeven analysis. Again, these tools have been included for free by BusinessLOC.com.

If you are having significant trouble with writing your business plan then you may want to consider hiring a professional firm to assist you in this process. Often, business planning firms have extensive relationships with banks, finance companies, and private lenders that will be interested in your business project or established company. These firms may or may not take a success fee if they are able to secure a business loc for you. Prior to working with a business planning firm, you should check the credentials of the individual producing your business plan, make sure that they are registered with the Better Business Bureau, and that they have an established track record of obtaining credit facilities through their produced business plans.

Article Source: http://www.articlesbase.com/credit-articles/do-you-need-a-business-plan-to-get-a-credit-line-2304977.html
About the Author
Business LOC is a specially designed website for entrepreneurs that are seeking to raise capital for their startups, small businesses, and expanding existing businesses. The focus of the site is on Business Lines of Credit.

Advantages Of A Good Business Plan

Author: ALFRED CHIBUISI AMAECHI

Planning is a vital ingredient  in the success of any business. Developing a business plan is not just a requirement, but a basic necessity for building one's business nowadays. It is an honest truth that every business needs a plan, starting from large corporations to entrepreneurs. Developing a business plan will help one build a framework that would push his business to his actual destination. The business plan helps one develop work guidelines, map out strategies, understand one's target market, measure performance, monitor progress, make future plans and raise additional capital either for expansion or to boost operations.

Quite often, the thought on the mind of most business owners or investors is failure. The only way to overcome this failure is to address the common reasons why businesses fail up front. Presently, the world is facing though economic challenges, global economic meltdown, high cost of commodities, high rate of foreclosure and difficulties in obtaining credit from banks, stiff competition, complicated tax laws and high operational costs, etc..  All these challenges faced by businesses today, even make it more challenging for start-up businesses to survive. In today\'s world, both small and large- scale businesses have come to realize the need to evaluate their business potentials and formulate strategies for the future.

However, inadequate planning has been the reason so many businesses fail, and the rate at which they fail is overwhelming. It is usually believed that most businesses fail in their first year of operation and among those that fail, 80of them do not have a well researched plan. It has been observed that business failure is not only connected with small businesses alone which I chose not mention here , go down too. Though  the rate of failure is highly significant in small businesses, and it is the main reason why a good business plan is needed. Probably for raising additional cash and to provide potential investors and lenders with the information required to make investment decisions. This makes developing a business plan extremely important. One's business plan has to stand out and his projection has to be firm due to higher competition in attracting funding for his business. Investors no longer risk their money on businesses that do not prove to have great potentials for them.

A business plan is like a road map, it shows one the route to take, the pitfalls to avoid in order to reach his destination, For  instance, if one decides to travel by road from one place to another, he would first need a road map that shows him the route to take. He will need to determine the distance and how much gas his car will need to take him to his destination. Moreover, he  will need to calculate how much the journey will cost him,  if he intends to raise money, if he's borrowing, how he intends to refund the money. Putting all this into consideration, he now has a traveling plan that will take him to his destination. In the same vein, that's what a business plan provides one with, the strategies, the  route, and a road map to success.

Incidentally, the idea of working with a business plan is for one to keep focus on his set goals. Statistics has it that many businesses fail due to inadequate planning. If one doesn't know where he's heading to, any route seems to be the right one. Most people make great mistakes by jumping into business without adequate preparation and planning. A good business plan helps one maintain focus on his goals and execute the strategies that the plan assisted him in creating. Just like a road, one's business plan has to be consulted to make maintain his focus and not running business in a layman's way.

Working with a business plan, it will prevent one from entering unfamiliar territory. The plan becomes a working map for him and his organization. I t spells out the things to do and things not to do, the functions and how everyone and every department should operate. It helps one become more efficient, reduce waste and redundancy, channeling one's resources to rightful place and being a guide to the successful running of his business.

As a performance tool, it measures the progression of goals in one's business by tracking, monitoring, as well as  evaluating, and can also be used as checkpoints in measuring performance. The world today, is so dynamic that what applied today might not  apply tomorrow, and as a result of this dynamism, a good business plan needs to be setup in order to protect one against risks associated with business.

In addition to a performance  tool, perfect business plan should contain other necessary tools in its system, which really make it a perfect plan. It must have a human resource tool, a marketing and strategy tool, financial tool, communication tool, and most importantly, an investor's guide. A well-defined business plan attracts others to be part of the vision. It has to have a well-defined goal and objective that will set the stage to bring others into the business. It should inspire teamwork and creativity among its people and ensures everyone understands the goals and objectives.

However, a good business plan defines one's target market , the class of people he intends to sell his products to, how to reach them, promote his products , in addition,  defines one's market mix- people, place, product and price. People- this defines the people involved in the promotion one's goods and services. Product- this defines what one's goods and services are. Place- defines the location which also includes the means of delivering the goods and services. Price- defines how much one's products and services are worth in the market which will enable him analyze and evaluate his return on investment (ROI). A marketing and strategy tool defines one's business strength, his weakness, his opportunities and threats. It plots a graph that helps one reduce cost while maximizing profit.

A financial tool in a good business plan enables one understand his business financial position, develops his budget and determine how his finances will be allocated. It also calculates one's return on return on investment, analyzes his income statement, cash-flow, balance sheet, break-even point i.e. the analysis that tells one how much sales needed in order to cover expenses, which gives the basis for pricing his products and services, and at the same time calculates how much that is needed to finance one's  business  which helps in  making his financial needs clear.

A good business plan communicates one's ideas to people, communicates his mission, objectives, management approach, responsibilities and demonstrates how one's strategy will increase profitability and performance, identifying his audience without overreacting his aims and objectives of his business plan. A business communicates in two ways- Internal communication and External communication. Internal communication includes communication of corporate vision, shared value, strategies, guiding principles and employee motivation. External communication includes branding, customer relation, marketing, advertising, media and public relations etc.

A good business plan is used to attract funding from investors. Most investors will look at a business plan as a decision-making tool. There are certain things investors look out for in a business. These include one's management team, every investor will want to know a business owner's managerial skills,  passion, and his dedication to his business. A comprehensive description of how one's products or services should be discharged, his customer base, his market and financial analysis. A business plan should have a realistic financial forecast. Every investor will always like to see his business associate's return of investment, cash-flow and break-even analysis. Hence, a well prepared business plan is the key to attracting investors.

Article Source: http://www.articlesbase.com/business-ideas-articles/advantages-of-a-good-business-plan-3930497.html

About the Author
Alfred C. Amaechi is an expert in Home Based Businesses. He\'s been in the field for several years and his considerable expertise has thrust him into the limelight as he guides potential investors to the right track to success in business. He hails from Nigeria, a christian and married with children. Do you want to succeed in Home Based Business? Visit http://www.homebizglobe.com for a comprehensive information and FREE e-books on guide to becoming successful in Legitimate Home Based Businesses.

7 Reasons You Need A Business Plan For Your Book

7 Reasons You Need A Business Plan For Your Book

By Patrice Turner

Don't think in terms of a 50-page document. Think of a simple one or two page creation that will keep your writing and marketing focused and on track. Here are seven reasons you should invest the time in creating a business plan for your book(s):

It helps you identify your reader.

The first thing any good business plan does is identify its target market. Are you writing to women, men, children? Is your genre sy-fy, romance, self-help?

It helps you focus on your reader.

A good business plan helps you zero in on your reader. After all, you don't want to market to every reader - you want to market very specifically to your reader.Think about it. Writing and marketing to a business owner is very different than writing and marketing to a history buff.

It helps you identify strategic partners.

A strategic partner is another business who reaches your target market on a consistent basis or who witnesses a need for your product or service on a daily basis. Identifying them in your business plan can catapult your marketing efforts.

It helps you create a marketing plan.

A business plan that clearly defines your target market and strategic partners makes creating a marketing plan for your book super easy. A good marketing plan directs your marketing time, energy and dollars where they will do the most good. Again, not a big, thick document that takes longer to write than to implement. Instead, opt for a simple one-page document that will keep you focused.

It allows you to explore all publishing avenues.

Traditional publishing, self publishing, vanity publishing, trade publishing, on-demand publishing. There are a lot of options. Which is best for your work? A good business plan helps you explore this option and choose the one most financially rewarding for you.

It solidifies your book packaging and design.

I'm sorry to say that I've read (well... attempted to read) many books with excellent content, but very poor layout, atrocious grammar and amateurish cover work. Detail in your business plan how your book will be professionallyprepared for the market because whomever said that we don't judge a book by its cover was wrong.

It can launch a book series.

JK Rowling seemingly had the entire Harry Potters series planned out before she even started the first book. Follow this great example and incorporate a series proposal or outline into your business plan.

A good business plan is worth its weight in gold. The publishing industry is becoming increasingly competitive. A plan of action with clearly defined steps and goals goes a long way toward monetizing your work.

Patrice Turner is the owner of Book Coach 101 where she helps Business Owners and Professional Speakers write a profitable, marketable book that brands and expertizes them. She also helps Every Day People tell their story. For more information and to receive a free registration to one of her Writers Cohorts please visit: http://www.bookcoach101.com


Article Source: http://EzineArticles.com/?expert=Patrice_Turner


http://EzineArticles.com/?7-Reasons-You-Need-A-Business-Plan-For-Your-Book&id=8571170

How to Write a Business Plan – Learning How to Write a Business Plan from a Professional

By Rajib Dam

When entrepreneurs try to learn how to write a business plan, they may look at a few sample business plans and try to develop their own ideas from those templates. While it is helpful to utilize previous plans to understand the structure and necessary content of your plan, you still need professional guidance to write your plan properly. When you hire a business plan consultant to help you write your startup business plan, you will be doing your company a favor. Not only will the consultant show you how to write your initial business plan, but he will also spend the time to show you how dynamic a business plan can really be.

It is critically important that your start up business plan be formulated specifically for your business. The best business planning consultants will avoid using templates to create plans because each business plan is different. The plans and aspirations of each entrepreneur need to be expertly captured in the text of the business plan. When investors and employment candidates read the business plan, they need to feel as though they understand what the plan is saying and are comfortable with what the business owner is thinking. A well-written business plan will convey those ideas and give the business owner a solid path to follow.

Once the plan is in place and the company is operating, the job of the professional business planning consultant does not stop. When you are learning how to write a business plan, you learn quickly that business plans are meant to be changed. You do not change the business plan to accommodate slight changes to the business. The amendments to the business plan are made to help the company to stay current in the marketplace and address any changes in technology or consumer preferences. Once you start changing the purpose of the company, then that becomes a much more involved conversation.

When you learn how to write a business plan, you start to see how a business plan is an invaluable document to any business owner. The plan is what attracts investors and it is also the blueprint for success that the business owner uses to inspire key employees to join the team. When the business climate changes, then the business plan is amended. But a professional business plan consultant will always work to make sure that the business plan stays ahead of the curve and keeps guiding the company to success.

Article Source: http://www.articleslash.net/Business/Advertising/683857__How-to-Write-a-Business-Plan-Learning-How-to-Write-a-Business-Plan-from-a-Professional.html

Business Plan – Why Your Company Needs a Business Plan

By Rajib Dam

Many entrepreneurs start off their businesses with a good idea, but without a startup business plan. An idea is the genesis of a small business, but a business plan is the blueprint that the company will follow to success. If you are unfamiliar with how to write a business plan, then hire a business plan consultant to see you through the process. It is critical that your business plan be as comprehensive as possible to give your business a path to follow to success.

One of the key elements of any business plan is the description of products and services. Any startup business plan writer will tell you that having the description of what the company does in writing helps the company leaders to make proper decisions. The description of the company products or services tells you what the company does and what it does not do. If elements within the company start to see other opportunities to make money, the statement of products and services will dictate if those opportunities fit within the company guidelines. In some cases, it may be necessary to start a whole new division within the company to address new opportunities. It depends on what the company business plan says.

Your business plan is the document you use to attract investors and get top talent to join your organization. One of the ways you do that is to develop an operating budget and sales projections for the next three to five years. The operating budget will show investors how you are able to keep costs down while running your company. The sales projections will indicate to investors and prospective key employees how you intend to grow the company in the coming years. This is the kind of information you will need to get critical people involved in the growth of your organization.

If you want to learn how to write a business plan on your own, then check out the many sample business plans available online. Even if you decide to draft your business plan yourself, you should still get it looked over by a business plan expert to make sure that you have included everything you need. In the end, the business plan will be the document you refer to most often to make important company decisions and to run the company on a day to day basis. Without a plan, your company will not have a direction and it will lack the ability to generate growth as time goes by.

Article Source: http://www.articleslash.net/Business/Advertising/686028__Business-Plan-Why-Your-Company-Needs-a-Business-Plan.html

Business Plan Writing – The Important Elements of Business Plan Writing

By Rajib Dam

Small business consultants will always tell their clients that a comprehensive business plan is important to the success of any organization. Start up business plans will give business owners a guide on how much money they can spend, what kinds of services or products they will offer and how to pace the growth of the company. Whether you know how to write a business plan or you hire a small business plan consulting service, there are certain elements that every good business plan includes. If you want your business plan to be useful, then be sure to have the very basics incorporated into it.

Budget and projection numbers are what the business owner uses to guide many of his operational decisions. If a small business owner finds that his operating costs are exceeding the costs in the business plan budget, then he must find ways to cut those costs. If the sales projections for the first year are not reaching the expectations laid out in the business plan, then the business owner needs to make changes that will bring the actual numbers up to the level of the projections. By the same token, if the real numbers are significantly outperforming the projections, then the business owner needs to see why so he can make the necessary adjustments to the business plan.

There are administrative parts of a business plan that are used to help secure investors and interest key personnel in joining the company. One of the more important parts of the business plan is the list of company executives and their relative experience. Investors want to make sure that the company is being run by experienced and competent people before they invest their money, and key personnel want to know that the company is being run in a viable manner before making your company their next career stop. Executive resumes are critical in any good business plan.

A business plan writing consultant is going to want to help you to create the most comprehensive document possible. There is an extensive outline associated with a proper business plan that includes many different sections. As you and your consultant look over sample business plans, you both can choose which areas of your business need to be covered by the business plan and what kind of relevant content must be included. It is the first important process in the creation and success of your own small business.

Article Source: http://www.articleslash.net/Business/Advertising/686549__Business-Plan-Writing-The-Important-Elements-of-Business-Plan-Writing.html