| It is always said "If you Fail to Plan,
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| | as..publicity and promotions, advertising
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| you Plan to Fail"
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| | plans, direct sales force, and dealer
|
|
| |
| | distributor programs. Each section would
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| Success in business comes as a result of
| |
| | then be an outline of your plans and
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| planning. You have to have a detailed,
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| | policies.
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| written plan that shows what the ultimate
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| |
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| goal is, the reason for the goal, and
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| | Moving into the next chapter on
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| each milestone that must be passed in
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| | competition, identify who your
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| order to reach your goal.
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| | competitors are--their weakness and
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|
| |
| | strong points--explain how you intend to
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| A business plan is written definition of,
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| | capitalize on those weaknesses and match
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| and operational plan for achieving your
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| | or better the strong points. Talk to as
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| goal. You need a complete but success
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| | many of your "indirect" competitors as
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| tool in order to define your basic
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| | possible--those operating in different
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| product, income objectives and specific
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| | cities and states.
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| operating procedures. YOU HAVE TO HAVE A
| |
| |
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| BUSINESS PLAN to attract investors,
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| | One of the easiest ways of gathering a
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| obtain financing and hold onto the
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| | lot of useful information about your
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| confidence of your creditors,
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| | competitors is by developing a series of
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| particularly in times of cash flow
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| | survey questions and sending these
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| shortages--in this instance, the amount
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| | questionnaires out to each of them. Later
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| of money you have on hand compared with
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| | on, you might want to compile the answers
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| the expenses that must be met.
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| | to these questionnaires into some form of
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|
| |
| | directory or report on this type of
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| Aside from an overall directional policy
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| | business.
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| for the production, sales effort and
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| |
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| profit goals of your product--your basic
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| | It's also advisable to contact the trade
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| "travel guide" to business success--the
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| | associations and publications serving
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| most important purpose your business plan
| |
| | your proposed type of business. For
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| will serve, will be the basis or
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| | information on trade associations and
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| foundation of any financial proposals you
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| | specific trade publications, visit your
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| submit. Many entrepreneurs are under the
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| | public library, and after explaining what
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| mistaken impression that a business plan
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| | you want ask for the librarian's help.
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| is the same as a financial proposal, or
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| |
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| that a financial proposal constitutes a
| |
| | The chapter on management should be an
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| business plan. This is just a
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| | elaboration on the people operating the
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| misunderstanding of the uses of these two
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| | business. Those people that actually run
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| separate and different business success
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| | the business, their job, titles, duties,
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| aids.
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| | responsibilities and background resume's.
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|
| |
| | It's important that you "paint" a strong
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| The business plan is a long range "map"
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| | picture of your top management people
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| to guide your business to the goal you've
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| | because the people coming to work for you
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| set for it. The plan details the what,
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| | or investing in your business, will be
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| why, where, how and when, of your
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| | "investing in these people" as much as
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| business--the success planning of your
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| | your product ideas. Individual tenacity,
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| company.
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| | mature judgement under fire, and
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|
| |
| | innovative problem-solving have "won
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| Your financial proposal is a request for
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| | over" more people than all the AAA Credit
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| money based upon your business plan--your
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| | Ratings and astronomical sales figures
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| business history and objectives.
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| | put together.
|
|
| |
| |
|
| Understand the differences. They are
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| | People becoming involved with any new
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| closely related, but they are not
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| | venture want to know that the person in
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| interchangeable.
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| | charge--the guy running the business
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|
| |
| | knows what he's doing, will not lose his
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| Writing and putting together a "winning"
| |
| | cool when problems arise, and has what it
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| business plan takes study, research and
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| | takes to make money for all of them>
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| time, so don't try to do it all in just
| |
| | After showing the "muscle" of this
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| one or two days.
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| | person, go on to outline the other key
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|
| |
| | positions within your business; who the
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| The easiest way to start with a loose
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| | persons are you've selected to handle
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| leaf notebook, plenty of paper, pencils,
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| | those jobs and the sources as well as
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| pencil sharpener, and several erasers.
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| | availability of any help you might need.
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| Once you get your mind "in gear" and
| |
| |
|
| begin thinking about your business plan,
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| | If you've been in business of any kind
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| "10,000 thoughts and ideas per minute"
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| | scale, the next chapter is a picture of
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| will begin racing thru your mind...So,
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| | your financial status--a review of your
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| it's a good idea when you aren't actually
| |
| | operating costs and income from the
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| working on your business plan, to carry a
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| | business to date. Generally, this is a
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| pocket notebook and jot down those
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| | listing of your profit & loss statements
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| business ideas as they come to you--ideas
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| | for the six months, plus copies of your
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| for sales promotion, recruiting
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| | business income tax records for each of
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| distributors, and any other thoughts on
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| | the previous three years the business has
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| how to operate and/or build your
| |
| | been an entity.
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| business.
| |
| |
|
|
| |
| | The chapter on the explanation of your
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| Later, when you're actually working on
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| | plans for the future growth of your
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| your business plan, you can take out this
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| | business is just that--an explanation of
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| "idea notebook" evaluate your ideas,
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| | how you plan to keep your business
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| rework them, refine them, and integrate
| |
| | growing--a detailed guide of what you're
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| them into the overall "big picture" of
| |
| | going to do, and how you're going to
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| your business plan.
| |
| | increase your profits. These plans should
|
|
| |
| | show your goals for the coming year, two
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| The best business plans for even the
| |
| | years, and three years. By breaking your
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| smallest businesses run 25 to 30 pages or
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| | objectives down into annual milestones,
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| more, so you'll need to "title" each page
| |
| | your plan will be accepted as more
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| and arrange the different aspects of your
| |
| | realistic and be more understandable as a
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| business plan into "chapters." The format
| |
| | part of your ultimate success.
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| should pretty much run as follows:
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| |
|
|
| |
| | Following this explanation, you'll need
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| Title Page Statement of Purpose
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| | to itemize the projected cost and income
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| Table of Contents Business Description
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| | figures of your three year plan. I'll
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| Market Analysis Competition
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| | take a lot of research, an undoubtedly a
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| Business Location Management
| |
| | good deal of erasing, but it's very
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| Current Financial Records Explanation
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| | important that you list these figures
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| of Plans For Growth Projected Profit &
| |
| | based upon thorough investigation. You
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| Loss/Operating Figures Explanation of
| |
| | may have to adjust some of your plans
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| Financing for Growth Documentation
| |
| | downward, but once you've got these two
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| Summary of Business & Outlook for The
| |
| | chapters on paper, your whole business
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| Future Listing of Business & personal
| |
| | plan will fall into line and begin to
|
| References
| |
| | make sense. You'll have a precise "map"
|
|
| |
| | of where you're headed, how much it's
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| This is a logical organization of the
| |
| | going to cost, when you can expect to
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| information every business plan should
| |
| | start making money, and how much.
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| cover. I'll explain each of these
| |
| |
|
| chapters titles in greater detail, but
| |
| | Now that you know where you're going, how
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| first, let me elaborate upon the reasons
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| | much it's going to cost and how long it's
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| for proper organization of your business
| |
| | going to be before you begin to recoup
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| plan.
| |
| | your investment, you're ready to talk
|
|
| |
| | about how and where you're going to get
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| Having a set of "questions to answer"
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| | the money to finance your journey. Unless
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| about your business forces you to take an
| |
| | you're independently wealthy, you'll want
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| objective and critical look at your
| |
| | to use this chapter to list the
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| ideas. Putting it all down on paper
| |
| | possibilities and alternatives. Make a
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| allows you to change, erase and refine
| |
| | list of friends you can approach, and
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| everything to function in the manner of a
| |
| | perhaps induce to put up some money as
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| smoothly oiled machine. You'll be able to
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| | silent partners. Make a list of those
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| spot weakness and strengthen them before
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| | people you might be able to sell as
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| they develop into major problems.
| |
| | stockholders in your company--in many
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| Overall, you'll be developing an
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| | cases you can sell up to $300,000 worth
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| operating manual for your business--a
| |
| | of stock on a "private issue" basis
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| valuable tool which will keep your
| |
| | without filing papers with the Securities
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| business on track, and guide you in the
| |
| | and Exchange Commission. Check with a
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| profitable management of your business.
| |
| | corporate or tax attorney in your area
|
|
| |
| | for more details. Make a list of
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| Because it's your idea, and your
| |
| | relatives and friends that might help you
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| business, it's very important that YOU do
| |
| | with an outright loan to furnish money
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| the planning. This is YOUR business plan,
| |
| | for the development of your business.
|
| so YOU develop it, and put it all down on
| |
| |
|
| paper just the way YOU want it to read.
| |
| | Then search out and make a list of
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| Seek out the advice of other people; talk
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| | venture capital organizations. Visit the
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| with, listen to, and observe, other
| |
| | Small Business Administration office in
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| people running similar businesses; enlist
| |
| | your area--pick up the loan application
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| the advice of your accountant and
| |
| | papers they have--read them, study them,
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| attorney--but at the bottom line, don't
| |
| | and even fill them out on a preliminary
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| ever forget it has to be YOUR BUSINESS
| |
| | basis--and finally, check the costs,
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| PLAN!
| |
| | determine which business publications
|
|
| |
| | would be best to advertise in, if you
|
| Remember too, that statistics show the
| |
| | were to advertise for a partner or
|
| greatest causes of business failure to be
| |
| | investor, and write an ad you'd want to
|
| poor management and lack of
| |
| | use if you did decide to advertise for
|
| planning--without a plan by which to
| |
| | monetary help.
|
| operate, no one can manage; and without a
| |
| |
|
| direction in which to aim its efforts, no
| |
| | With listing of all the options available
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| business can attain any real success.
| |
| | to your needs, all that's left is the
|
|
| |
| | arranging of these options in the order
|
| On the very first page, which is the
| |
| | you would want to use them when the time
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| title page, put down the name of your
| |
| | come to ask for money. When you're
|
| business-ABC ACTION--with your business
| |
| | researching these money sources, you'll
|
| address underneath. Now, skip a couple of
| |
| | save time by noting the "contact" deal
|
| lines, and write it all in capital
| |
| | with when you want money, and whenever
|
| letters: PRINCIPAL OWNER--followed by
| |
| | possible, by developing a working
|
| your name if you're the principal owner.
| |
| | relationship with these people.
|
| On your finished report, you would want
| |
| |
|
| to center this information on the page,
| |
| | If your documentation section, you should
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| with the words "principal owner" off-set
| |
| | have a credit report on yourself. Use the
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| to the left about five spaces.
| |
| | Yellow Pages or check at the credit
|
|
| |
| | department in your bank for the nearest
|
| Examples: ABC ACTION
| |
| | credit reporting office. When you get
|
| 1234 SW 5th Ave.
| |
| | your credit report, look it over and take
|
| Anywhere, USA 00000
| |
| | whatever steps are necessary to eliminate
|
|
| |
| | any negative comments. Once these have
|
|
| |
| | been taken care of, ask for a revised
|
|
| |
| | copy of your report and include a copy of
|
| PRINCIPAL OWNER: Your Name
| |
| | that in your business plan.
|
|
| |
| |
|
| That's all you'll have on this page
| |
| | If you own any patents or copyrights,
|
| except the page number -1-
| |
| | include copies of these. Any licenses to
|
|
| |
| | use someone else's patent or copyright
|
| Following your title page is the page for
| |
| | should also be included. If you own the
|
| your statement purpose. This should be a
| |
| | distribution, wholesale or exclusive
|
| simple statement of your primary business
| |
| | sales rights to a product, include copies
|
| function, such as: We are a service
| |
| | of this documentation. You should also
|
| business engaged in the business of
| |
| | include copies of any leases, special
|
| selling business success manuals and
| |
| | agreements or other legal papers that
|
| other information by mail.
| |
| | might be pertinent to your business.
|
|
| |
| |
|
| The title of the page should be in all
| |
| | In conclusion, write out a brief, overall
|
| capital letters across the top of the
| |
| | summary of your business- when the
|
| page, centered on your final draft--skip
| |
| | business was started, the purpose of the
|
| a few lines and write the statement of
| |
| | business, what makes your business
|
| purpose. This should be direct, clear and
| |
| | different, how you're going to gain a
|
| short--never more than (2) sentences in
| |
| | profitable share of the market, and your
|
| length.
| |
| | expected success during the coming 5
|
|
| |
| | years..
|
| Then you should skip a few lines, and
| |
| |
|
| from the left hand margin of the paper,
| |
| | The last page of your business plan is a
|
| write out a sub-heading in all capital
| |
| | "courtesy page" listing the names,
|
| letters, such as: EXPLANATION OF PURPOSE.
| |
| | addresses and phone numbers of personal
|
|
| |
| | and business references--persons who have
|
| From, and within this sub-heading you can
| |
| | known you closely for the past five years
|
| briefly explain your statement of
| |
| | or longer--and companies or firms you've
|
| purpose, such as: Our surveys have found
| |
| | had business or credit dealings with
|
| most entrepreneurs to be "sadly" lacking
| |
| | during the past five years.
|
| in basic information that will enable
| |
| |
|
| them to achieve success. This market is
| |
| | And, that's it--your complete business
|
| estimated at more than a 100 million
| |
| | plan. Before you send it out for formal
|
| persons, with at least half of these
| |
| | typing, read it over once a day for a
|
| people actively "searching" for sources
| |
| | week or ten days. Take care of any
|
| that provide the kind of information they
| |
| | changes or corrections, and then have it
|
| want, and need.
| |
| | reviewed by an attorney and then, an
|
|
| |
| | accountant. It would also be a good idea
|
| With our business, advertising and
| |
| | to have it reviewed by a business
|
| publishing experience, it is our goal to
| |
| | consultant serving the business community
|
| capture at least half of this market of
| |
| | to which your business will be related.
|
| information seekers, with our
| |
| | After these reviews, and any last-minute
|
| publication. MONEY MAKING MAGIC! Our
| |
| | changes you want to make, I'll be ready
|
| market research indicates we can achieve
| |
| | for formal typing.
|
| this goal and realize a profit of
| |
| |
|
| $1,000,000 per year within the next 5
| |
| | Type and print the entire plan on
|
| years...
| |
| | ordinary white bond paper. Make sure you
|
|
| |
| | proof-read it against the original. Check
|
| The above example is generally the way
| |
| | for any corrections and typographical
|
| you should write your "explanation of
| |
| | errors--then one more time--read it
|
| purpose," and in subtle definition, why
| |
| | through for clarity and the perfection
|
| you need an explanation. Point to
| |
| | you want of it.
|
| remember: Keep it short. Very few
| |
| |
|
| business purpose explanations justify
| |
| | Now you're ready to have it printed and
|
| more than a half page long.
| |
| | published for whatever use you have
|
|
| |
| | planned for it--distribution amongst your
|
| Next comes your table of contents page.
| |
| | partners or stockholders as the business
|
| Don't really worry about this until
| |
| | plan for putting together a winning
|
| you've got the entire plan completed and
| |
| | financial proposal, or as a business
|
| ready for final typing. It's a good idea
| |
| | operating manual.
|
| though, to list the subject (chapter
| |
| |
|
| titles) as I have, and then check off
| |
| | Take it to a quality printer in your
|
| each one as you complete that part of
| |
| | area, and have three copies printed.
|
| your plan.
| |
| | Don't settle for photo-copying..Have it
|
|
| |
| | printed!
|
| By having a list of the points you want
| |
| |
|
| to cover, you'll also be able to skip
| |
| | Photo-copying leaves a slight film on the
|
| around and work on each phase of your
| |
| | paper, and will detract from the overall
|
| business plan as an idea or the interest
| |
| | professionalism of your business plan,
|
| in organizing that particular phase,
| |
| | when presented to someone you're trying
|
| stimulates you. In other words, you won't
| |
| | to impress. So, after going to all this
|
| have to make your thinking or your
| |
| | work to put together properly, go all the
|
| planning conform to the chronological
| |
| | way and have it duplicated properly.
|
| order of the "chapters" of your business
| |
| |
|
| plan--another reason for the loose leaf
| |
| | Next, stop by a stationery store, variety
|
| notebook.
| |
| | store or even a dime store, and pick up
|
|
| |
| | an ordinary, inexpensive bind-in theme
|
| In describing your business, it's best to
| |
| | cover for each copy of your business
|
| begin where your statement purpose leaves
| |
| | plan. Have the holes punched in the pages
|
| off. Describe your product, the
| |
| | of your business report to fit these
|
| production process, who has
| |
| | binders and then slip each copy into a
|
| responsibility for what, and most
| |
| | binder of its own.
|
| importantly, what makes your product or
| |
| |
|
| service unique--what gives it an edge in
| |
| | Now, you can relax, take a break and feel
|
| your market. You can briefly summarize
| |
| | good about yourself..You have a complete
|
| your business beginnings, present
| |
| | and detailed business plan with which to
|
| position and potential for future
| |
| | operate a successful business of your
|
| success, as well.
| |
| | own. A plan you can use as a basis for
|
|
| |
| | any financing proposal you may want to
|
| Next, describe the buyers you're trying
| |
| | submit..And a precise road-map for the
|
| to reach--why they need and want or will
| |
| | attainment of real success...
|
| buy your product--and the results of any
| |
| |
|
| tests or surveys you may have conducted.
| |
| | You just complete one of the important
|
| Once you've defined your market, go on to
| |
| | steps to fulfill of all your dreams of
|
| explain how you intend to reach that
| |
| | success.---------------------------------
|
| market--how you'll these prospects to
| |
| | ------------------------Julia Tang
|
| your product or service and induce them
| |
| | publishes Smart Online Business Tips, a
|
| to buy. You might want to break this
| |
| | fresh and informative newsletter
|
| chapter down into sections such
| |
| | dedicated to supporting peoplelike you!
|
