26Mar
We now come to probably the most feared, most avoided but the most important task in beginning a business. Many believe that a business plan is only for those seeking outside financial help like from a bank or investors. Others believe that this is just unnecessary paperwork and that the best business plan is in their heads. Some who believe in it do so only half-heartedly and come up with a one or two page plan of how they see their business progressing. All these approaches are misguided and without proper direction, the business is more likely to sink than grow.
The most important point to remember about a business plan is that it is first and foremost for you! It is to layout a concrete plan to successfully start, manage and then grow your company. It will force you to think and invest in strategy planning, market research, financial planning, operational details and marketing plans.
However, we will concede that it is not easy to immediately start out working on a business plan and every business plan will need working and reworking. We will try to provide you first with some general guidelines on what a good business plan should include and once we have you thinking in that direction, we will start helping you fill out all the details in the business plan.
Let us first outline what a well written business plan will contain:
- An attractive statement of purpose – when people ask you what your business does, this is the first statement you will be using.
- Complete description of who you believe your customers will be, any special niche you are aiming for as well as a general strategy for winning over that niche.
- Complete description of your product or service. Mention what are the highlights and what could be its challenges, production or selling wise.
- A well compiled list of people who will be working with your or advising you in various aspects. Mention clearly what their skills and areas of expertise are.
- Details of financial plans that will show how you plan to finance the first few years and expected revenues and expenses
- Major risks that you may face before your business settles down and major advantages that may help it grow well.
As you can see, your business plan is more like a map to guide you through, at any point in time. If you have given sufficient thought to planning and written down the steps in sufficient detail in your business plan, no matter how many ups or downs there are, you should be able to stay on course. In fact, one expert likes to compare a business plan to the centerboard of a sailboat. Irrespective of how the wind is blowing, your business plan will always help you stay on course, headed in the right direction.
If you would like to look at some samples before you begin on one, you can speak to banks or business websites, which can help you by showing samples of a few business plans. You could also look up one of the thousands of books in your local library, which should contain a sample. However, treat the sample as just that. It is meant to give you an idea of what are the essentials that should go in a business plan. Do not worry if your plan is too long or short, simple or complicated. What should matter to you is that it is written in a manner that you can follow easily, contains information that is helpful to your business, identified possible challenges that could arise and outlined plans for overcoming them.
20Mar
No business can effectively operate nor attract the funds needed to survive prosper and grow without a good business plan. A good plan is a management tool that shows where your business is going, and just how you plan to get there, and is a necessity for attracting lenders, investors, partners and key personnel, plan outlines vary but they all must cover certain key areas, such as: Executive Summary, Business Description, Marketing Plan, Financial Plan, Management Team, and Appendix.
Moreover, there are many kinds of software on the market that can help you write you write a good plan, but you must still input the data needed to write your plan into the software. The output of the software can never be any better than the data you put into it and you must manually put that in yourself. Here are four steps to help you write a strong business plan:
1. Put all of your plan data and information into several good old fashion file folders and label each folder so that you know what is in it. This data and information will include such materials as marketing methods you will use, market research, management team bio’s, financial statements, profit projects and other similar items.
2. Get a good outline or use the outline in the software you will be using to help draft your plan. And write a 250 to 500 word summary for each section of your business plan using the materials that you have in your plan data and information file folders.
3. Expand upon your brief summary descriptions for each section of your plan to write your actual plan, or let the software write this for you. Be sure to give extra attention to the marketing section of your plan because this section gets the more attention than any other part of your plan from lenders and investors, since this tells how your profits will be obtained.
4. Keep your plan to between eight to 12 pages, because when it comes to business plans more it not better, and anything longer than that quite simply won’t get read, then put a list of other information you have available in your appendix to be requested if wanted. You want your business plan to be a clear concise document that is easy to read and understand, because a confused mind will usually say no to what is being proposed.
A good business plan will help you to effectively and profitably operate your business, and is a clear road map that shows where you business is going, how you plan to get there, the people you will need to get there, and the profits your business will produce when you get there. And it will help you to get the money you need from lenders and investors to get where you want to go with your business. So do not underestimate the power of a good well written business plan, and by all means prepare you one getting started today.
13Mar
As with any new business defining a home staging business plan should be on the top of your to-do list when thinking about starting a home staging business.
With the current housing market in a decline and housing prices falling many home sellers are in need of home staging consultants which makes it a perfect time to start your own business.
If you have a passion for decorating and real estate then this is the first step of starting your staging business writing a solid business plan.
Creating a home staging business plan will help you stay focused and on track to get your new career started.
To start with a found this great e-book at Home-Staging-Business.info that includes these home staging business plan points:
Proposal Form Business Checklist #1- home staging step-by-step Home Staging Report Home Staging Business Worksheet (11 pages) Agent Contact Data Form (keep track of all those agents you’ll be talking to) Homeowner Survey Form Staging Checklist #2 (guides you through all the staging techniques for every room in the home Home Staging Checklist #3 – Home Staging Tools Business Mileage Form
Establishing what funds will be needed and an outline on how you will spend them is an important step in your home staging business plan.Even if you don’t need a loan for start up a good business plan is an excellent way to stay on task. It’s also good to have handy and follow should your business take off and you start considering loans to grow.There are many sections to a business plan such as:
Determine how much you will need to set aside to market to real estate agents, home sellers, home flippers and small builders. Outline where you will spend your money to avoid getting in over your head. Go to the small business administration and understand what permits, licenses, and taxes you need to know about. Come up with a business name or use your own name. Still don’t know where to start? You have to read this great e-book I found at Home-Staging-Business.info, it really helped me get started with my business plan.
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.
21Dec
You can write a compelling software business plan in less time than you think you can. Planning is critical to successfully starting and building your software company. Without a business plan you are shooting in the dark. Whether you are looking for financial capital or to better target your market segment and drive sales, this article will help you write and implement your software business plan.
Is a Software Business Plan Really Necessary?
Yes, absolutely! Planning is critical to successfully starting a software company or building a business. Without a business plan you are shooting in the dark.
Strategic planning is critically important for both big businesses and small companies alike. Strategic planning is matching the strengths of your business to available market opportunities.
To do this effectively, you need to collect, screen, and analyze information about the business environment. You also need to have a clear understanding of your software business – its strengths and weaknesses – and develop a clear mission, goals, and objectives. Acquiring this understanding can take work, but in many ways it is the process of strategic planning that you go through in creating your software business plan that is the most valuable step of all.
Strategic planning has become more important as increased rate of change of technology and competition have made the business environment less stable and less predictable. There are also many changes underway in the software industry with the move to Software as a Service or SaaS.
If your software company is to survive and prosper, it is important to take the time to identify the niches where your software provides the highest value with the least competition. Your software business plan will encourage financial investment, promote growth, and provide a map to follow to drive sales.
Outline of the Software Business Plan
This is an outline of the essential elements of a good business plan: