Best Business Plan

Archive for the ‘Strategic Planning’ category

7 Great Business Plan Ideas For a Really Tough Economy

November 23rd, 2011

So where’s the money? Trust me, it is there. Mostly it is being held by tight fisted bankers. But here are some ideas for business plans that will help you put them on your side of the fence.

1. Double Duty Advertising

Advertising isn’t cheap. But it is probably pretty good. So include some of your ads in the business plan. The ads certainly show what your business does, and how you approach your clients, two very important considerations. Scatter them hither and yon to add visual interest.

2. Picture Yourself

Speaking of pictures, do include one of yourself, perhaps in a group with others. Yes, it creates a personal approach. It also makes you “real”. Including pictures of some of your top clients is a good idea too. Most business plan ideas incorporating work you have done previously is good.

The banker you presented your business plan to has indeed seen you. But s/he probably is not the decision maker. Make sure the decision maker sees you smile “cheese” too.

3. Beam Me Up, Scotty

Your entry into the world of the internet can indeed impress, and is one of our top business plan ideas. There is nothing else that will demonstrate your creativity and business acumen at such a low price. Take your site as far as you can. Turn it into a retail site, or a lead generation site, or an informational site. Structured properly, it will even begin to generate income for you.

Most businesses plan on having a website. And most postpone it for far too long. As long as you are going to do it anyway, get started now. Few other activities can so clearly demonstrate your energy and dedication.

4. e-Plans

Convert your business plan to a pdf. Put it on a disk, and put that disk in an envelope in your business plan. Be sure to add linking and chapter headings for easy searching. The more complex your plan, the more important this becomes. It makes it very easy for investors to find just the section they are looking for.

In fact, consider enclosing a copy or two as well, with the note that these can be forwarded to other interested parties. You just never know where they will end up.

5. Use Color, But Use It Sparingly.

For decades business plan were excruciating boring documents in black and white, mostly because color printing was expensive. Even back then we recommended buying one ream of paper with a color line down the left side and using that for the business plan. It was just enough to add a touch of zing to the presentation. » Read more: 7 Great Business Plan Ideas For a Really Tough Economy

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Posted in Strategic Planning

Tags: Business business acumen chapter headings site

Business Plan – The Executive Summary

October 23rd, 2011

A poorly written executive summary is often the reason why you don’t find investors for your business, no matter how qualified your team and you are, no matter how great the business idea. All potential investors and business consultants, bankers and other experts, read the executive summary to gain a general view over your business, your niche and your capabilities. The executive summary tells them whether it is safe to invest or not. It is in your best interest write your business plan in a professional, accurate manner. It is in your best interest to be honest to yourself and your potential business partners or else you’ll fail.

You should include in your executive summary all major information about your planned business in a concise, clear manner. The readers should understand from its contents the main points of the complete business plan, without being forced to read it all. Business people, especially those dealing with finances, are busy people. The moment you waste their time with biased information you “win” negative points that will influence their decision to (probably) a negative course.

Don’t write your executive summary for yourself: write it for your readers. Ask yourself who are those people, what’s their educational background, what information really matters for them or what information is most likely to influence a positive decision. When you deal with a highly technical business you might need to include technical descriptions in your executive summary as well. But are your readers going to understand your message without being forced to open a slang dictionary? It is in your best interest that they do. Try to use less technical terms and when needed, provide an addendum to clarify the slang terms. Believe it: the ones really interested in the technical details of your business will read the whole business plan.

The executive summary is a part of your business plan and not a separate document. It is placed at the beginning of the plan and not at the end (yes, this happens too!). It should not be longer than one page, but many times, especially large businesses cannot settle for such a short summary. If you really need to include that much information, keep your executive summary at two pages tops. Other interested readers often read this document and it is often open for the media, as it contains all the major information about your business. All in one: the executive summary is a business plan “in miniature”. » Read more: Business Plan – The Executive Summary

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Posted in Strategic Planning

Tags: executive slang dictionary slang terms summary

Business Planning – The Key Steps to Your Best Business Plan

September 23rd, 2011

Planning is the most vital element of success. It is a common myth that men fail to plan and eventually, they plunder in their pursuit for success. Why do we fail to plan? There are a myriad of complexes and other integral aspects of planning that seem to elude us in the process of planning. By understanding these main pillars of planning, we might find that results come away and eventually success becomes prevalent.

Planning involves both analysis and insight. If you need to go into business, you need a plan that is comprehensive and that focuses on your goals rather than incentives of the idea. Two you need to have a plan that is based on practice’s rather than assumed projections. When you have some guidelines which you will practically put in place, it is a guarantee to success and it helps you learn each and every step of your business process that might cause constraint.

As such, these guides keep you focused on achieving rather than trying to achieve which is what most of us find ourselves faced with. Eventually, business success become very possible if the plan of action is well understood. Planning also involves using the sense of direction as the driving force behind your venture. If you have a target, enthusiasm and a drive to achieve things, your plan will always be implement able and actually you will achieve all what is included and charted in your business plan. This is your best bet to planning successfully in business.

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