Your business needs investors. What is the best way to help bankers, investors and venture capitalists realize that your business is a solid investment? The answer is simple, create a business plan. A well-written business plan is the best way to help potential investors realize the possibilities your company can offer and decide to invest. A well-written plan will outline your business, explain your plan to make everything happen, and will assure investors that you have the skills, team, and resources to make your plan happen.
Why do I need a business plan?
While a business plan is not a requirement for a business, it is a valuable tool that can help guide any business to success. A business plan is required for a business that desires funding from a venture capitalist. In addition, many Small Business Administration (SBA) loans require a business plan to secure funding. Existing businesses looking to expand their company through a bank loan can increase the attractiveness and effectiveness of their loan application by choosing to include a business plan. It can make a company appear more stable and better planned. If used properly, a business plan can help a company to reach new goals and important milestones.
There are many various reasons for writing a business plan. These include:
• Defining a new business
• Redefining an existing business
• Establishing goals and company milestones
• Raising funding or gaining loan approval
• Evaluating company strengths and weaknesses
• Defining responsibilities and agreements between business partners
• Setting company value for sale or other needed purposes
• Evaluating potential company changes
What should I include in my business plan?
A business plan should include an executive summary, company summary, product line and/or services offered, market analysis, implementation plan and business strategy, as well as details on management and a financial plan.
• The executive summary is a section of the document that explains the basics of your business plan and then begins to sell your idea to potential investors.
• In the company summary include facts about your business. Answer questions like: who, what, when, and why.
• When describing products and services offered it is wise to include reasons why your product is different. Explain how you will differentiate your business offerings from those of your competition.
• Market analysis details your specific market. Who is your typical customer? How is your market expected to grow?
• When discussing implementation, include a specific instruction about how you are going to accomplish your goals. Establish deadlines and company milestones to help you to meet your goals.
• Explain company management policies, strengths and experiences. Sometimes possessing strong experienced management will be the selling point investors need to decide favorably on your business.
• In your financial plan include information about costs, profits and available cash flow. You may want to consider including your plans for repayment of investments to help your investors realize your company will be a solid investment.
As you include these various elements within your business plan, remember that a business plan is more than specific sections. It is also an example of your business to show to investors. Be sure that your ideas are strong and well-planned. Use easy to understand, well constructed writing throughout the entire plan. Carefully structure the plan. Separate information into various sections and differentiate these sections with section headings and page numbers. Finally, remember to illustrate to investors that you will be able to return on their investment. In detail, explain how your plan will make a profit.
How do I start my business plan?
Often a business plan may seem like a daunting undertaking. Fortunately, there are many tools available which can help a business owner to create a solid business plan. One of the easiest is to invest in a good businesses planning software program. These programs can easily help a business owner to create a solid outline for a well composed, organized business plan. Often these programs will create the structure for your plan thus eliminating the need to create structure yourself. Research and find a good program that will be able to help you meet these goals.
Other tools available to aid business owners through the creation process are various books. A good book will help you learn to structure and create a solid business plan. You may want to consider reading “The Plan-As-You-Go Business Plan,” by Tim Berry .
BudgetBusinessPlans.com has a variety of business plan samples ready for your review. These free samples will help to inspire business owners by showcasing ideas that other owners in similar industries have used.
Finally, you may want to consider hiring a professional. A professional business plan writer will help you to structure and compose a professionally written business plan. Remember that while they will craft your plan for you, it is your responsibility to create your plan. Before meeting with your writer determine important concepts within your business so you are ready to guide the writing professional through your business.
Wednesday, June 30, 2010
Friday, June 11, 2010
Manager Jobs – Create Your Own Opportunities
With manager jobs there are many times that you can effectively create your opportunities without having to leave where you currently place of employment. That is because there is always going to be a need for a company to have qualified and quality people in manager positions no matter what company it is you are looking at. So the company you work for may be the best possible place for you to begin your quest for a manager job.
In order to determine if your present employer will have an opportunity for you ask them. As the old saying goes, “If you don’t ask, you’ll never know,” and this is certainly the case when you are think about a manger job where you are currently working.
By talking with your present employer about possible manager jobs, you are killing two birds with one stone. First, you will find out what managerial opportunities may be waiting for you and second, you will let your employer know that you are in fact interested in becoming a manager. Be warned though. Once you declare that you want to become a manager, a closer eye will be kept on your work.
If there is an opportunity for you to become a manager at your place of employment then find out exactly what it will take to get there. This will include:
• Education Requirements: What schooling if any is required for you to be able to land the management position you are after where you work?
• Special Training: This can come in the way of some managerial seminars or even some industry specific training.
• On-Job Training: When a company likes to promote from within, they also like the training to go a specific way. Find out if this is the case with your company and see if there is a management training course that you can be a part of.
Once you ascertain what needs to be done then you need to formulate a plan and execute it. Remember that success hates haste so the faster you get to it, the faster your manger job may open itself up to you.
Another great resource to check into at your current place of employment is any of the current managers that work with you on a daily basis. Talk with them and see what their plan of attack was when they joined the company and how they went about executing it. Not everyone gets manager jobs right off the bat, many work from the bottom up. Of all the managers that work with you there is bound to be at least one who fits this bill.
Above all else, never stop working hard and never stop asking questions. Manager jobs go to those who display the most amount of potential and you can be easily recognized for your efforts and kept in mind for a possible managerial job opening within your company, especially if you have already made it clear that your intention is a future position in management.
In order to determine if your present employer will have an opportunity for you ask them. As the old saying goes, “If you don’t ask, you’ll never know,” and this is certainly the case when you are think about a manger job where you are currently working.
By talking with your present employer about possible manager jobs, you are killing two birds with one stone. First, you will find out what managerial opportunities may be waiting for you and second, you will let your employer know that you are in fact interested in becoming a manager. Be warned though. Once you declare that you want to become a manager, a closer eye will be kept on your work.
If there is an opportunity for you to become a manager at your place of employment then find out exactly what it will take to get there. This will include:
• Education Requirements: What schooling if any is required for you to be able to land the management position you are after where you work?
• Special Training: This can come in the way of some managerial seminars or even some industry specific training.
• On-Job Training: When a company likes to promote from within, they also like the training to go a specific way. Find out if this is the case with your company and see if there is a management training course that you can be a part of.
Once you ascertain what needs to be done then you need to formulate a plan and execute it. Remember that success hates haste so the faster you get to it, the faster your manger job may open itself up to you.
Another great resource to check into at your current place of employment is any of the current managers that work with you on a daily basis. Talk with them and see what their plan of attack was when they joined the company and how they went about executing it. Not everyone gets manager jobs right off the bat, many work from the bottom up. Of all the managers that work with you there is bound to be at least one who fits this bill.
Above all else, never stop working hard and never stop asking questions. Manager jobs go to those who display the most amount of potential and you can be easily recognized for your efforts and kept in mind for a possible managerial job opening within your company, especially if you have already made it clear that your intention is a future position in management.
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