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Business Plan Business Plan, Business Planning, Business Planning ServiceA plan is only worth the results it delivers. A business plan is like a steering – it helps you to steer the business in the right direction. However, in order for you to be able to get somewhere, only a steering might not be enough. It must be attached to a vehicle that has an engine, wheels, brakes, seats, lights, gas and other necessary parts required to make it function like a complete vehicle. Then, the vehicle must also have a driver who is knowledgeable, able, willing and committed to steer it in the right direction.
Business Plan Essentials There can be many types of business plans including:
However, a business plan for an audience of potential investors, partners, financial institutions, buyers, sellers or management professionals should have a few basic parts. These parts are:
A good business plan enables a business define quantifiable long-term business goals and near-term business objectives, analyze its competitive advantages and unique selling propositions, devise strategic and operational tactics, create work, responsibility and resource break-down structures, establish baselines for time and money and measure performance by comparing actuals against baselines. See Sample Business Plan. Click here Business Plan, Business Planning, Business Planning Service
Cash Flow Leading business planners agree that an important part of business planning is cash flow forecast. Liquidity and cash flow serve as bloodlines to a business. Having the cash to finance its operations gives a business the ability to perform and turn a profit. History has seen many profitable businesses go under because, although they were profitable, they did not have the necessary cash flow to carry on. It's a must for every business to recognize its industry norms, calculate its operations costs, chart them against potential revenues and prepare for any challenging times.
Practicality Practicality and ease of implementation is another very important part of a good business plan. Every line of strategy mentioned in a business plan should have 10 corresponding lines for its effective implementation. Every desired strategy must be expanded to identify tasks. All tasks must have a start and finish date. Every task must carry a budget for its execution and be assigned to an individual.
Funding Basics
Acquisition of funding support depends
on a number of things. The investors, whether you are approaching
financial institutions or angel investors, look at various aspects
of the investment. Topics of interest to them can range from the
entrepreneur's personal net worth, professional history and success
record, knowledge of the proposed business and industry, the
thoroughness of the project presented in the business plan, and
assets they can secure their investment against. They look at the
entrepreneur's knowledge of the competitive situation, the
strategies that are expected to give the new business a clear
advantage over competition, and the pricing model and how it relates
to the target market demographics. Innovation in strategy as well as
pragmatism in sales and profitability forecasts is an important part
of a typical investor's business evaluation criteria. A plan is only worth the results it delivers
WESTKNIGHT COMMUNICATIONS
Request a FREE Initial Westknight Small Business Consultation Business Plan, Business Planning, Business Planning Service |
You can choose from two professional yet economic Business Plan Packages:
Startup Business Plan If you have decided to start a business and do not plan to get outside funding, this plan is for you. It includes a business summary, mission statement, objectives, product or service description, market and competitive analysis, operational strategy, marketing strategy and a break even analysis.
Order now: Click here
Comprehensive Business Plan If you intend to pursue outside investment or bank funding, this plan is recommended fro you. The Comprehensive Business Plan includes all features of the Startup Business Plan, plus an executive summary, management expertise, team profile, company background, monthly financial projections for the 1st year and annual projections for the 2nd and 3rd year.
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It is my personal experience as an entrepreneur that investors do not invest in fancy business plans - they invest in you and your entrepreneurial commitment to your business concept. Aftab Qureshi
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