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Write You - How to Prepare a Business Plan
One of my favorite maxims is “just because you’re paranoid doesn’t mean they aren’t out to get you”. I generally apply it the quote to government, but in a business world pretty well wrapped up into pseudo-new-age “secrets”; it helps to remember that you can’t “positive think” your way out of every situation. All the good vibrations in the world are not going to make some people behave with honor and integrity. In business, there are people whose ill will and
Description of business:
• what it aims to do
• its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of ta
Apparently, the most dangerous job in the world is now that of a Hezbollah rebel soldier. We have all heard that there are many dangerous jobs in the world. For instance an astronaut or an underwater welder, speedboat racers, and those in NASCAR have very dangerous jobs as well. But without a doubt the life expectancy of a Hezbollah rebel soldier against the invading Israeli army is now only four days and seven hours. And even that is questionable as it appears
You wouldn't set out on a journey not knowing where you were going, yet many people establish a business with no real concept of what they want to achieve or how they'll achieve it.
The outline below shows what you need to include in your business plan; use it to gather the appropriate information so that you get your business off to the best start.
EXECUTIVE SUMMARY
Quote (about your vision for the business)
What already exists
The niche -- as you see it and benefits your business will bring
Type of business proposed -- benefits you will bring to the market niche
Overall financial goals -- anticipated sales and profits
Funds required to start up business
BUSINESS PROFILE
Business name
Principals
Description of business:
• what it aims to do
• its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of tal
If you’re in the path of a hurricane, your fears are legitimate and realistic.Our fears can also be irrational. We recognize this when we see it in others – the child who thinks all dogs bite, or the adult who’s afraid to ride in an elevator. When we have a fear like that, we know intellectually it’s irrational, but we don’t feel that way about it emotionally.I'm reminded of this as Halloween comes around. My field is Emotional Intelligence (EQ),
The outline below shows what you need to include in your business plan; use it to gather the appropriate information so that you get your business off to the best start.
EXECUTIVE SUMMARY
Quote (about your vision for the business)
What already exists
The niche -- as you see it and benefits your business will bring
Type of business proposed -- benefits you will bring to the market niche
Overall financial goals -- anticipated sales and profits
Funds required to start up business
BUSINESS PROFILE
Business name
Principals
Description of business:
• what it aims to do
• its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of ta
Your favorite team is down by five runs in the bottom of the ninth, with two outs and your weakest hitter is at the plate.The game is over, right?Not at all.If you ask the wrong question, of course, you’re done; you’re toast; thanks for showing up but come back tomorrow.What’s the wrong question? That’s easy:“How are we ever going to get five or six runs in the bottom of the ninth, with two outs and our weakest hitter at the pla
EXECUTIVE SUMMARY
Quote (about your vision for the business)
What already exists
The niche -- as you see it and benefits your business will bring
Type of business proposed -- benefits you will bring to the market niche
Overall financial goals -- anticipated sales and profits
Funds required to start up business
BUSINESS PROFILE
Business name
Principals
Description of business:
• what it aims to do
• its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of ta
An effective framework for differentiating a business’s value should start with a powerful positioning statement: a memorable, impactful, concise sentence that tells people what you do, how you are different and what value you will provide to them. If your salespeople are not able to deliver this top-line sales pitch - and have the recipient understand it in the time it takes to go up two flights on an elevator - it is not effective and needs to be redeveloped.iness will bring
Type of business proposed -- benefits you will bring to the market niche
Overall financial goals -- anticipated sales and profits
Funds required to start up business
BUSINESS PROFILE
Business name
Principals
Description of business:
• what it aims to do
• its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of ta
Not Recommended for Companies with Sales Greater than $1 MillionPURPOSE: To provide a quick guide to business owners that desire to sell their business but do not want a significant portion of the transaction value to go to a business broker or M&A intermediary.1. Have an idea what your company is worth. The most common rule of thumb is that buyers usually pay a multiple of EBITDA. The normal range is a selling price between 3 and 5 times EBITDA. Th
Description of business:
• what it aims to do
• its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of talents, connections in the industry etc.
SWOT analysis [Strengths Weaknesses Opportunities Threats](Be honest with these, but only put in threats, weaknesses that you know you can meet and overcome successfully)
Objectives:
• at the end of the first 12 months of operation
• after 12 months
PRODUCT AND MARKET ANALYSIS
Product / Service -- description of what you're offering
Features
Benefits
Price structure
Industry description and outlook
Market demand -- percentage of market you think you can capture; competition share you think you can take etc.
OPERATING PLAN
Resource requirements:
• what you need in order to operate
• what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
• details of staff required
• training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers a
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