How to Write a Business Plan


http://www.businessnewsdaily.com
By: Jeanette Mulvey, BusinessNewsDaily Managing Editor
-.-
business-plan-11100102

While it may sound complicated, a business plan is nothing more than an organized outline of your idea of how your business is going to function. And experts agree: you need one.

“A business plan is like a road map,” explained James Jacobs, the retired president of a Dallas-based financial services firm and a SCORE (Service Corps of Retired Executives) advisor. “It’s a road map that helps you identify where you want to go and how to get from point A to point B.”

A business plan should include a variety of pieces and some will be more detailed than others depending on the kind of business you’re running and your reason for writing the business plan.

There are certain pieces of the business plan that are must-haves:

Small Business Strategy Tips

I don’t know what the name of your small business is, nor do I know what product or service you are selling. What I do know is that if you start small business plans without a strategy, you will fail. All successful business plans have a good strategy behind them. And when it comes to small business ideas and strategies, there are several aspects that you will want to consider. Let’s take a look at a few of them.

1. Leadership

Before you even start small business plans, you need to develop good leadership abilities. You need to be able to create small business ideas and enforce them. After all, what good are ideas if there is no one to put them in place? If you have staff, you also need to know how to direct them while at the same time making them excited to work for you. To be a boss is one thing – to be a boss that your employees respect will take your company to a whole new level. In small business, it is also important to remember that leadership does not just involve leading others, it also involves listening. Listening to the needs of your staff and clients will help you to better your business and increase your sales.


I don’t know what the name of your small business is, nor do I know what product or service you are selling. What I do know is that if you start small business plans without a strategy, you will fail. All successful business plans have a good strategy behind them. And when it comes to small business ideas and strategies, there are several aspects that you will want to consider. Let’s take a look at a few of them.

1. Leadership

Before you even start small business plans, you need to develop good leadership abilities. You need to be able to create small business ideas and enforce them. After all, what good are ideas if there is no one to put them in place? If you have staff, you also need to know how to direct them while at the same time making them excited to work for you. To be a boss is one thing – to be a boss that your employees respect will take your company to a whole new level. In small business, it is also important to remember that leadership does not just involve leading others, it also involves listening. Listening to the needs of your staff and clients will help you to better your business and increase your sales. Leer más “Small Business Strategy Tips”

The 7 Sections of a Business Plan

If you really want to improve your business, the best way to do it is to write a Business Plan. It is not the plan itself that is so important, although it is a valuable asset but the process as it makes you really think about the business and focus on the way that you will operate and grow the business in the future.

There are seven key topic areas in a good business plan as follows:

1. The Executive summary

Although this is at the beginning of the plan, you will write it last as it is an overview of the entire plan. Most banks will read it first or use it when considering future funding so ensure that you have the most important points of the plan written well. Include rationale for needed financing and how this will be used, the growth you will expect as well as the products and services that you provide and staffing required. Remember, you are writing this for someone who may not be familiar with the details of your business so be clear and and comprehensive but also keep it brief so the reader is not bored.


By Linda | mymagneticblog.com

If you really want to improve your business, the best way to do it is to write a Business Plan. It is not the plan itself that is so important, although it is a valuable asset but the process as it makes you really think about the business and focus on the way that you will operate and grow the business in the future.

There are seven key topic areas in a good business plan as follows:

1. The Executive summary

Although this is at the beginning of the plan, you will write it last as it is an overview of the entire plan. Most banks will read it first or use it when considering future funding so ensure that you have the most important points of the plan written well. Include rationale for needed financing and how this will be used, the growth you will expect as well as the products and services that you provide and staffing required. Remember, you are writing this for someone who may not be familiar with the details of your business so be clear and and comprehensive but also keep it brief so the reader is not bored. Leer más “The 7 Sections of a Business Plan”

Deconstructing Your Social Business Plan For 2011

It’s 2011 and as you gear up for planning initiatives for the new year, it’s the best time ever to take a step back and think about what needs to be done before you take action. But before even doing that, you may want to think about how you’ve approached initiatives in the past. Here’s a simple framework to consider:

Implementation & Execution
If you’ve launched anything—whether it be a Facebook page, Twitter account, YouTube, or an internal communication/collaboration platform then you are to be congratulated because you have executed. However, many organizations who have jumped into the social waters now find themselves dealing with new challenges. Large organizations who operate globally may have scores of digital embassies which do not coordinate or exist within any defined architecture. Departments may have launched pilots as rogue efforts which initially were successful but are difficult to scale. Marketing, customer service, HR, IT, and a host of other operational groups may be in turf wars over who runs what. Your business partners may be engaging in their own turf wars. In short, getting something executed and maintaining it is a great place to be in, but it also creates new challenges which require formalization as the space matures.


http://darmano.typepad.com/logic_emotion/2011/01/sb_2011.html

Screen shot 2011-01-02 at 9.22.14 PM
It’s 2011 and as you gear up for planning initiatives for the new year, it’s the best time ever to take a step back and think about what needs to be done before you take action. But before even doing that, you may want to think about how you’ve approached initiatives in the past. Here’s a simple framework to consider:

Implementation & Execution
If you’ve launched anything—whether it be a Facebook page, Twitter account, YouTube, or an internal communication/collaboration platform then you are to be congratulated because you have executed. However, many organizations who have jumped into the social waters now find themselves dealing with new challenges. Large organizations who operate globally may have scores of digital embassies which do not coordinate or exist within any defined architecture. Departments may have launched pilots as rogue efforts which initially were successful but are difficult to scale. Marketing, customer service, HR, IT, and a host of other operational groups may be in turf wars over who runs what. Your business partners may be engaging in their own turf wars. In short, getting something executed and maintaining it is a great place to be in, but it also creates new challenges which require formalization as the space matures.
Leer más “Deconstructing Your Social Business Plan For 2011”

The 16 Most Important Business Questions…. Ever!

It’s the 3 W’s that matter most…

If you’re starting out as an entrepreneur or a freelancer or a project manager, the most important choice you’ll make is: what to do? I often talk to my clients about the most important part of your web address isn’t your name itself, it’s the 3 “W”‘s that come before it…

* Who are you?
* What do you do?
* Why does it matter?

[Más…]
In order to answer those 3 (HUGE) questions quickly and concisely, you need to know the answer to these questions. As a business owner or an entrepreneur, I think these are 16 of the most important questions you could ever ask yourself. If you want to be (really) successful, go somewhere quiet with your favourite drink – and don’t come back until you’ve got a good answer for each of them!


by jeremywaite
http://jeremywaite.wordpress.com/2010/10/21/the-16-most-important-business-questions-ever/

It’s the 3 W’s that matter most…

If you’re starting out as an entrepreneur or a freelancer or a project manager, the most important choice you’ll make is: what to do? I often talk to my clients about the most important part of your web address isn’t your name itself, it’s the 3 “W”‘s that come before it…

  • Who are you?
  • What do you do?
  • Why does it matter?

Leer más “The 16 Most Important Business Questions…. Ever!”

5 Valuable Tips You Need to Know as an Entrepreneur

If you’re into the start-up scene like I am (especially in the tech world), then I applaud you, you’re really in a great spot – even if you’re just sitting on the sidelines. Why? The Internet space is really one of immense possibility, and I don’t say that just for the sake of being cheesy either. It really is. There are so many people making a living online creating small niche businesses, it’s quite mind boggling – and this is just the start.

With an explosion of new entrepreneurship, from all ages and walks of life, what are some of the fundamental lessons that you need to understand in order to do well? Let me fill you in with ’5 Valuable Tips You Need to Know as an Entrepreneur’, enjoy.


5valuabletipsentrepreneur

If you’re into the start-up scene like I am (especially in the tech world), then I applaud you, you’re really in a great spot – even if you’re just sitting on the sidelines. Why? The Internet space is really one of immense possibility, and I don’t say that just for the sake of being cheesy either. It really is. There are so many people making a living online creating small niche businesses, it’s quite mind boggling – and this is just the start.

With an explosion of new entrepreneurship, from all ages and walks of life, what are some of the fundamental lessons that you need to understand in order to do well? Let me fill you in with ’5 Valuable Tips You Need to Know as an Entrepreneur’, enjoy. Leer más “5 Valuable Tips You Need to Know as an Entrepreneur”

Keeping Your Business Plan Flexible

People make business plans for all sorts of reasons — to attract funding, evaluate future growth, build partnerships, or guide development. Unfortunately, the vast majority of these plans are usually out of date by the time the printer ink dries. Business moves fast: the product’s features morph, new competitors emerge, or the economic climate shifts. When these changes occur, many people just throw their business plans out the window. For a plan to be truly valuable it needs to evolve with your company and stay relevant in the face of uncertainty. [Más…]

What the Experts Say
Despite the hype business plans get from corporate advisers, “most business owners don’t have a formal business plan,” says Patricia Greene, Professor of Entrepreneurship of Babson College and co-editor of The Development of University-based Entrepreneurship Ecosystem. Yet one of the first items you’ll find on every entrepreneur’s checklist is Write business plan. The key is to create a living document. “When you think about a business plan, think about the distinction between a snapshot and a moving picture,” says William Sahlman, the Dimitri V. D’Arbeloff – Class of 1955 Professor of Business Administration at Harvard Business School and author of How to Write a Great Business Plan. Sahlman explains that you need something that moves with your business. However, capturing all of the unknowns while not sounding wishy-washy is challenging. Below are several ways to make sure your plan is a fluid, useful document.


business plan

by Amy Gallo
Blogs.hbr.org

People make business plans for all sorts of reasons — to attract funding, evaluate future growth, build partnerships, or guide development. Unfortunately, the vast majority of these plans are usually out of date by the time the printer ink dries. Business moves fast: the product’s features morph, new competitors emerge, or the economic climate shifts. When these changes occur, many people just throw their business plans out the window. For a plan to be truly valuable it needs to evolve with your company and stay relevant in the face of uncertainty. Leer más “Keeping Your Business Plan Flexible”