26Dec



Creating a startup business plan requires more than just a simple template and a can do attitude. Of course you can accomplish it without a good guide to writing a plan but just because you can do something doesn’t mean it is a good idea.

A guide to writing your startup plan will not only help you determine what to write but more importantly where to find the information you need to write about and also how to make critical judgments about the information you are finding. For example, you may understand that you need to include a management team section to demonstrate that the people starting the business are going to be capable of running the business successfully.

But what you may not know if you don’t have a guide to writing a good business plan is that a terrific way to strengthen your business plan management section is to include advisers who have the industry experience and knowledge your team may lack.

Just by adding this simple feature to your plan may make the difference between getting funded and not and yet most people don’t know it and they wouldn’t realize how critical it can be if they are simply following a template they found online as opposed to using a guide to writing a high quality and fundable plan.

There are countless more examples of why there is a big difference between simply filling out the pages of a business plan template and actually having a good guide to writing a business plan, particularly one that also offers you the chance to speak directly to a business plans expert who can answer your specific questions. This is priceless in terms of improving the overall chances of your plan being successful.

22Dec



If you are counting on outside investors to capitalize your startup idea, the details matter. Whether you are seeking an SBA loan, talking to venture capitalists, borrowing from friends or family, or entering yourself into Shark Tank, you absolutely have to know what you are talking about before you go for the capital.

Plan the Business

Simply filling in the spaces of a business plan template doesn’t cut it. It is critical to actually plan the business. That means applying the fundamentals of business to every aspect of your business idea. You must do the homework to ensure the idea is viable, the market has room for another competitor, and that your business model will actually turn a profit. No guessing is allowed, and any assumptions must be fully explained and justifiable. The details matter — they are what separates a good idea that is tossed around for years and a growing, profitable venture.

Know the Numbers

If you are going to talk to a potential investor, you had better know the numbers inside and out. Back-of-the-napkin estimates of sales and expenses are not enough. You need to know the standard ratios for your industry and how your projections compare. You need to know the break-even point under a variety of conditions and how the variable expenses will be affected under those conditions. You must have a reasonable target for how much it costs to gain a new customer…and your explanation must make sense. Throwing around ballpark figures is usually unacceptable. You must be able to discuss and explain the details of your financial projections.

Know the Competition

You also need to do your homework on the competition and market. Know the details of who they are, what they do, and how you are going to compete. If you can’t come up with a single direct or indirect competitor, you either have not done your homework or there is no market for your product. If you are entering a crowded industry, look for unexploited niches to fill and work through the details of how and why that will work. Study the target market to find out what they do, where they go, and what else they spend their money on.

Plan the Marketing

You will need a well-developed marketing plan for how you are going to get your customers to buy. Simply placing ads in the most convenient places doesn’t usually work. Rather, consumers are so inundated with advertising that you will need to find marketing opportunities that are targeted to exactly the right people. You will need details on the reach, expected response, and cost per sale of your planned marketing activities. You should have a plan for the initial wave of marketing and how it will be evaluated as well as some back up ideas in case the results are less than stellar.

The Details are Essential

If you are planning to approach outsiders for help in funding your startup, know the details before you ask. In fact, even those using their own resources to fund a startup would benefit from digging into the details before they launch…the failure rate would drop precipitously. But going in front of potential investors raises the stakes. Smart investors will expect you to know your idea top to bottom, inside and out. Get into the details — you will have a better chance of securing financing and a better chance to succeed.

15Dec



If you are looking to generate a Safety Plan, you should consider getting hold of a template to help you draft this plan. A template is going to save you considerable time and effort when it comes to generating a document that is essential for any organisation.

These types of plans can be quite detailed and will certainly take a bit of time to create. Getting hold of a template will enable you to save time , money and will certainly put less strain on your brain as you try to think of all the items that you might need for your plan.

So, what are some things you can expect to find in a Safety Plan and expect to find in a template? Well, you should consider why you are generating the Safety Plan in the first place. It could be for a construction project or for your school or community organization. Therefore it may have different purposes. Think about what the purpose of your Safety Plan is going to be. Will it be to communicate the rules and regulations to your team of people? If so, then ensure that your document is easy to read.

Let us take a look at some specific items that could be in a Safety Plan. Obviously a plan like this is going to address issues that could be hazards to your team. For example, it may outline details on how to handle a bomb threat or suspicious package. Then it may also have information regarding emergency services, response plans and incident tracking sheets.

A comprehensive plan that considers all safety aspects is going to allow you to manage your organization better for those unseen events.

13Dec



You don’t need to write a formal 50-page business plan to get the benefits of business planning. In fact, it’s often better to craft a workable plan that you will review regularly to make sure your business is headed in the right direction. Here are a few things to consider if you’ve been procrastinating or don’t know where to start.

Just start. Writing a business plan doesn’t mean you have to cover every section included in business planning books or software. It’s actually better to start with your own concepts for what your company should look like and what needs to be done – and create a plan that you can start using today. Don’t worry about formal structure. Your business plan doesn’t have to follow a formal business plan template exactly, so don’t worry if your plan doesn’t include every section. Think about what needs to happen in your business in the next few weeks and months. Then, write it down as best you can in bulleted format, as a mind-map, with pictures, or whatever makes sense to you. Start with an outline and work from there. Start with the most immediate tasks. What will affect your business today, tomorrow, next week? Create a plan for the next month – what do you need to do right now to grow your business, get through a current crisis, or attract more clients? Focus on the short-term and let your business plan evolve as your business evolves. Create priorities. Don’t think about your business plan as just an abstract concept. Rather, it’s your business, and you should use your plan to help you achieve your goals, work productively, and better allocate resources. What are your priorities? What is the highest and best use of your time? What are your income-producing tasks? Those are where you should spend the bulk of your time. Set metrics and benchmarks. Even if you hate numbers, having metrics and benchmarks to measure your business success is crucial to achieving your goals. At minimum, you should know how much revenue you must make each month to cover expenses. Keep your plan simple. If you don’t write up a formal market analysis, industry analysis, financial projections and other information usually included in a traditional business plan, they won’t clutter your working document. If later, you do develop them, add them as supporting information in your appendix. Be flexible. You will never have complete, perfect information to create the ideal business plan for your company. Rather, you must work with what you have. Yes, you will have to make assumptions and some things will be uncertain. Make sure you document these, so that you can edit your plan accordingly as you learn new information. Take responsibility. You are writing a plan for your business, so you need to know the details inside and out. While it is okay to speak with consultants and business planners for guidance, you – not them – should write your business plan so that you understand all the details and how everything fits together. You control the fate of your business, not outside professionals, so set goals you are comfortable with and action steps you can achieve.

Think of the components of your business plan as pieces of a puzzle. Just as you usually don’t have to put the entire puzzle together before you recognize the image, you can start building your business with just a few pieces. As you see how the pieces fit together, you can expand and complete more of the puzzle – but the key is to start somewhere.

2Dec



There are several advantages of a business plan template. It’s designed to be very user friendly for getting financing and funding to start your business. It also provides direction and strategy, keeps employees on track and helps avoid costly mistakes later.

Although the advantages are all valuable, there are of course also some significant disadvantages to using a template. Remember that a template is after all- a template- it limits creativity. Just as your business is subject to changing marketing conditions, you want your plan to be accommodating for growth. If you want your business to progress, you can’t settle for what you put in writing because it makes it hard to see the situation realistically. Templates also most often tend to be too general. For you to survive in today’s economy you have to be trusted as the go to person or brand in your respectable niche. Your business should have unique needs, features and offerings. A general template will not necessarily provide every detail to help you prosper in your niche. Sure it can guide you, but it may not help your business survive.

Another disadvantage is that a template in some instances can be a waste of time and ineffective. Most templates appear to be extensive but when closely evaluated, are unnecessary sections that are irrelevant to your planning needs. As you eliminate those unimportant parts, it will leave you with an incomplete business plan outline that’s close to being useless. Sometimes you have to forget about performance numbers, growth projections and other typical “pie in the sky” business plan drivel and focus on the one basic necessity that all small businesses (including start-ups) need in order to grow and thrive: Ways to bring in the cash. And if you’re just starting out, this will be even more critical to your success since the most important activities of any new business are to generate prospective customers, sell them products and services to keep the business growing. Far too many entrepreneurs believe that by using downloaded templates, they can cut short the planning process and cut down the planning cost. Keep in mind, the real value of doing a business plan is not having the finished product, but the process of research and thinking about your business in a systematic way. A template alone is not enough to make a good plan it takes other variables such as the skills of writer, planning skills and tools working together for the best outcome.

Although templates are one of the most helpful things that happened in business planning, before you even consider using one for your plan, decide if it limits your imagination or flexibility to grow your business.

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