Business Plan Essentials
Your business plan is
Your Roadmap To Business in the FAST Lane of the Information Super HighwayTM Developing a business plan, even for a small online business, is critical to your success. You need to have a roadmap to follow and a budget to benchmark your progress and expense.
You have a plan, right? Read more
You need to ask yourself
these 3 basic questions when planning
Where are you now? |
Say for example one day you
decided to take the family to Disneyland. If you don't know where you are now you
could be driving around for days, weeks, months, or years before you discover
Disneyland. Don't let this happen to your business. Plan ahead and know where
you are? Start by
listing your assets.
What type of skills do you have?
If you need money to start your business how much can you afford to spend?
Who could you barrow money from?
Who could you get as a business partner? |
| Where
do you want to go? |
Once again if you got in the car and started
driving without knowing where you wanted to go how would you know when you got there? These are your goals. Make a list of your goals and
include a schedule as to when you want to achieve them.
Your goals will be your measure for success. |
| How
do you want to get there? |
If you got into the car and knew where you were
and knew where you wanted to go, but didn't know how to get their you would probably never
leave the driveway. This is where you
need your plan. Make a list of how you plan on achieving your goals. |
Business Plan Basics
1. Define your GOALS.
Set goals that motivate and inspire you to
take action
Create a list of objectives
Keep it simple - If you can't explain you
business or idea in one or two sentences you better take the time to clarify your ideas.
Keep it focused - Optimize your time,
resources, and money.
Set realistic goals
Challenge yourself
2. Create a PLAN for
achieving your goals.
3. Create a SCHEDULE.
4. Take action
SUCCESS = GOALS + PLANS
+ SCHEDULE + ACTION
Below are two examples of how business plans can
be organized.
If your company requires very little startup
capital I recommend you use the "One Page Business Plan". It only takes
about an hour, and it will dramatically impact your future.
If you plan on applying for a loan you may
want to consider purchasing a professional business plan software package such as the New version 7.0 of BizPlanBuilder. This powerful business development tool is better than ever for organizing your ideas and planning financing for
your business. It includes impressive colorful graphs and charts
plus powerful financial forecasting tools to help impress your loan officer.
The One Page Business Plan
| Vision |
How do you visualize your company
in the future? |
| Mission |
Why does your business exist? |
| Objectives |
What accomplishments must this
business achieve within one year to be successful? |
| Strategies |
How will this business be built and
managed over time? |
| Plans |
What specific projects and actions
will be taken this year to achieve the objectives? |
BizPlanBuilder
| General |
- Cover Page
- Non-Disclosure Agreement (NDA)
- Cover Letter to Investors
|
| Executive Summary |
- Purpose & Vision
- Mission & Philosophy
- Objectives
|
| Company Overview |
- Structure
- Government Regulations
- Present Situation
|
| Management Team |
- Responsibilities
- Stock Allocation
- Board of Directors
- Staffing Requirements
|
| Service/Product Strategy |
- Current Product(s)/Service(s)
- Research & Development
- Strategic Alliances
- OEM Relationships
- Joint Marketing & Development Agreements
- Third Party Suppliers
- Production & Delivery
|
| Market Analysis |
- Industry Analysis
- Customer Profile
- Economic Factors
- Demographics
- Psychographics
- Competition
- Risk
|
| Marketing Plan |
- Sales Strategy
- Positioning
- Pricing Strategies
- Distribution Channels
- Customer Service
- Advertising & Promotions
- Public Relations
|
| Financial Models |
- Revenue & Cost Assumptions
- 12-Month/2-3 Qtrly/1-5 Year Budget
- 12-Month/2-3 Qtrly/1-5 Year Income Statement
- 12-Month/2-3 Qtrly/1-5 Year Cash Flow (Allows for aging receivables)
- 12-Month/2-3 Qtrly/1-5 Year Balance Sheet
- Gross Profit Analysis (by product)
- Comprehensive Ratio Analysis
- Break-Even Analysis
- Exclusive One-Page Sensitivity Analysis (Worst Case / Best Case)
- Valuation
- Investor Analysis
- Working Capital Worksheet
- Personal Financial Statement
|
Click Here to see FREE Sample Business Plans |
