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BUSINESS PLANNING SERVICES
- Start-Up Plans: Explore the feasibility of a business dream and the requirements it will take to achieve it
- Internal Plan: Assists the owner, manager and staff in creating a more successful business through research and analysis of current and future goals.
- External Plan: To provide information to investors or banks showing that your business is suitable for investing or lending to.
WHY THE NEED FOR A BUSINESS PLAN?
- To identify a market and start a new business.
- To gain an overall perspective of an existing or proposed business and the steps needed to make it more successful.
- To persuade investors or bankers that a business is properly designed to support a loan application.
- To define and improve objectives and programs to achieve a successful outcome.
- To implement regular business reviews and course corrections to discover and solve problems.
- To define agreements between partners.
- To evaluate a new product line, service or promotion, or to expand an existing business.
- To purchase a new business or franchise.
- To provide a vision for an entire company, including owners, management and staff.
- To force the business owner to contemplate the entire scope of the business.
- To prepare a business owner for unexpected setbacks as well as opportunities.
- To set goals & provide a very important management tool through implementation.
- To create a tool for regular business review and course correction
FACETS OF A BUSINESS PLAN
A business plan should prove that your business will generate enough revenue to cover your expenses and make a satisfactory return for bankers or investors. The following key points will accomplish this goal.
- Executive Summary – Features the highlights of your plan and sells your idea in two pages or less
- Company Summary – A factual description of your company, ownership, and history.
- Products (or Services or both) – Describes your products and/or services and how they stand out from competitive products and services.
- Market Analysis – Provides a summary of your typical customers, competitive landscape, market size, and expected market growth.
- Strategy and Implementation – Describes how you will sell your product, how you will put your plan into action, and establishes milestones.
- Management Summary- Provides background on the management team, their experiences, and key accomplishments.
- Financial Plan- Contains key financials including sales, cash flow, and profits.
KEYS TO A SUCCESSFUL BUSINESS PLAN
- Well thought out ideas
- Clear and concise writing
- Logical and understandable structure
- Illustration of management’s ability to make the business a success
- Depicts profitability
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