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Added for You - How to Prepare a Business Plan
I had no money when I started my consulting business.But I had a phone, and thats all it took to transform myself from an Indiana professor with a church-mouse salary, into an independent, flourishing, nationwide practitioner within a matter of mere months.I contacted colleges and trade associations out of the blue, asking them to sponsor a new seminar I had created, and within 18 months my program had been successfully sponsored by 35 of them, whi
OPERATING PLAN
Resource requirements:
what you need in order to operate
what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
details of staff required
training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers and referrals
External - ho
How important are staff to your business? Thats sort of a basic question, because everyone knows that without staff you cant do your own job. But really, how important do we consider our staff? After all, they havent been to school as long as we have, they dont know as much, they dont make the money we do. Shouldnt it be easy to replace them when we need to?Its easy to fall into the trap of under-rating the importance of staff to a business; but
You wouldn't set out on a journey not knowing where you were going, yet many people establish a business with no real concept of what they want to achieve or how they'll achieve it.
The outline below shows what you need to include in your business plan; use it to gather the appropriate information so that you get your business off to the best start.
EXECUTIVE SUMMARY
Quote (about your vision for the business)
What already exists
The niche -- as you see it and benefits your business will bring
Type of business proposed -- benefits you will bring to the market niche
Overall financial goals -- anticipated sales and profits
Funds required to start up business
BUSINESS PROFILE
Business name
Principals
Description of business:
what it aims to do
its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of talents, connections in the industry etc.
SWOT analysis [Strengths Weaknesses Opportunities Threats](Be honest with these, but only put in threats, weaknesses that you know you can meet and overcome successfully)
Objectives:
at the end of the first 12 months of operation
after 12 months
PRODUCT AND MARKET ANALYSIS
Product / Service -- description of what you're offering
Features
Benefits
Price structure
Industry description and outlook
Market demand -- percentage of market you think you can capture; competition share you think you can take etc.
OPERATING PLAN
Resource requirements:
what you need in order to operate
what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
details of staff required
training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers and referrals
External - how
Licensing is necessary for an engineer to prove they maintain the expected level of professional competency. A degree alone is not enough. Practicing as an engineer involves important safety and public health issues. For this reason, licensing is required as proof that the individual understands the concepts, their applications and the code of ethics behind working as an engineer.The National Council of Examiners for Engineering and Surveying (NCEES) gover
EXECUTIVE SUMMARY
Quote (about your vision for the business)
What already exists
The niche -- as you see it and benefits your business will bring
Type of business proposed -- benefits you will bring to the market niche
Overall financial goals -- anticipated sales and profits
Funds required to start up business
BUSINESS PROFILE
Business name
Principals
Description of business:
what it aims to do
its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of talents, connections in the industry etc.
SWOT analysis [Strengths Weaknesses Opportunities Threats](Be honest with these, but only put in threats, weaknesses that you know you can meet and overcome successfully)
Objectives:
at the end of the first 12 months of operation
after 12 months
PRODUCT AND MARKET ANALYSIS
Product / Service -- description of what you're offering
Features
Benefits
Price structure
Industry description and outlook
Market demand -- percentage of market you think you can capture; competition share you think you can take etc.
OPERATING PLAN
Resource requirements:
what you need in order to operate
what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
details of staff required
training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers and referrals
External - ho
In part 4 of the program you will learn:1. Why your telephone voice is important 2. Bad telephone habits and telephone tips 3. How to leave a great voicemail message 4. How to script your out-going message1. WHY YOUR TELEPHONE VOICE IS IMPORTANTMost business relationships strongly rely on the telephone as a communication tool. It is very important to consider how we sound on the telephone, as the tone and pitch and the emphasis
BUSINESS PROFILE
Business name
Principals
Description of business:
what it aims to do
its target market
Vision -- ultimate goals
Mission -- value, service you'll offer
Competitive advantage you have -- e.g. flexibility, able to draw on wide base of talents, connections in the industry etc.
SWOT analysis [Strengths Weaknesses Opportunities Threats](Be honest with these, but only put in threats, weaknesses that you know you can meet and overcome successfully)
Objectives:
at the end of the first 12 months of operation
after 12 months
PRODUCT AND MARKET ANALYSIS
Product / Service -- description of what you're offering
Features
Benefits
Price structure
Industry description and outlook
Market demand -- percentage of market you think you can capture; competition share you think you can take etc.
OPERATING PLAN
Resource requirements:
what you need in order to operate
what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
details of staff required
training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers and referrals
External - ho
While most of these e-newsletters focus on service and those directly impacting the customer or guest, let's peek under the hood of your restaurant hot rod for a few tips about the area that makes it go - the kitchen. After all, the main reason people come here is to eat!Too often, companies dont realize little things which make a big difference in food quality. All too often, new fries get mixed with old fries or equipment never gets a break or gets
Objectives:
at the end of the first 12 months of operation
after 12 months
PRODUCT AND MARKET ANALYSIS
Product / Service -- description of what you're offering
Features
Benefits
Price structure
Industry description and outlook
Market demand -- percentage of market you think you can capture; competition share you think you can take etc.
OPERATING PLAN
Resource requirements:
what you need in order to operate
what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
details of staff required
training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers and referrals
External - ho
New small businesses must make many decisions. One of those is to decide how to handle the accounting and bookkeeping chores. Here are a few accounting related questions all new businesses need to consider.Which Type of Accounting Help is Best for New Businesses?New businesses need an expert, not a clerk.Accurate numbers are crucial to the success of any new business venture. An expert can provide those numbers - a clerk cannot. Yet ma
OPERATING PLAN
Resource requirements:
what you need in order to operate
what this will cost
List items and specify prices (tables etc)
MANAGEMENT PLAN
Manning levels:
details of staff required
training needed
Experience of managers and their skills
MARKETING PLAN
Divide this into: Internal - how you'll win repeat customers and referrals
External - how you'll get new customers
Impact - how you'll target specific groups
Detail how you'll go about targeting and selling to each group e.g.
Service levels
Vouchers
Hand-outs
Music
Decor
Entertainment
Special add-ons
Etc.
Publicity and direct approaches you'll make (specify targets e.g. music schools etc)
Promotion (e.g. freebies, discounts, buy one get one free, every 6th something free, charity performances, openings etc)
The actual product / service you're selling
FINANCIAL PLAN
Details:
Projected sales
Projected costs
Projected profits
Give SPECIFIC details e.g. break down into gross profits, overheads, net profits etc.
ACTION PLAN
Use table to show:
Activities to be carried out
When these will be done
Who will do each
Give a chronological sequence of action to show how you plan to start and develop the business.
Provide plenty of graphs (use different styles), tables, facts and figures.
Get info from Bureau of Statistics on demography, socio-economic groups, age etc etc.
Have AN appendix and include any extra details (for example: newspaper cuttings about bands bemoaning the fact that they can't get their CDs cut etc).
By following this outline, you'll have a realistic goal for your business ... and your bank manager!
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