Tags |
|
|
Casual Articles - Small Business Secret #4 – 10 Chapter Elements Every Business Plan Must Have to Be Successful
The question is, whether what is happening in managerial jobs is against or past the desires of women? Are women naturally less interested in power and less possessed with the pleasures and risks, which it brings and are aware of their avoidance of managerial positions? What is the relation between women’s’ social status about real position in the family? How can conditions in different life spheres influence each other, because women do not wish to be locked in family, but on the other hand they feel a responsibility to commit completely to it”.Answering some of these questions needs analysis and research, which exceeds the scope of this paper and deserves a separate study. Therefore, without any need to consider these questions in further detail, it can be said that even though women have been equal to men for a long time, there is still a huge gap between equality of women in our society de iure and de facto. "Double load on woman, her job’s work and maternity in every way and household work occupy her so much that she has no time left for expertise and thus for advancing in her career, for taking over managerial position… ". Thus, the determining influence on the women’s social role has maternity, socializa
All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.
One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it availa
What is awareness, anyway? The dictionary describes it as wakefulness or knowingness. In the world of advertising, the meaning is slightly different. Awareness is described in a variety of ways, including recall and recognition of brand, key features and positioning. If your customers can remember any of these about your products or services, you are doing well.How do you create awareness? Word-of-mouth is the most inexpensive option and works well as long as you are providing quality customer service and products. Tell everyone you know about your business. If you are proud of what you do, this should be easy. It’s nearly impossible not to “talk shop” when you don’t feel like work is work at all.There are of course, many other options. Television, radio (those costs add up quickly) in-store displays, direct mail, brochures, sales letters, newspaper and magazine advertisements. All of these create awareness. The trick is to do it in a way that the customer remembers you. This is where copywriting skills come in handy, and if you can’t do it yourself, pay someone who can. The time and money you spend up front will be well worth it in the end.Once you have created awareness, you need to maintain it.
A successful Business Plan will contain 10 key Chapter elements and they are –
1. Company Description
2. Business Concept
3. Management Team
4. Market Analysis
5. Marketing Strategy
6. Operations
7. Investment Analysis
8. Growth Plan/Exit Strategy
9. Financial Projections
10. Business Mastermind Group Advisers
One element that should also be in your business plan that is not in the list of 10 key Elements is the Executive Summary. All documents that have some substance should have an executive summary that outlines a summary of the contents of the document. As this should be in every document you create, I felt that it was not a Key Chapter element and as such that is why it is not in my list of 10 Key Chapter Elements.
Chapter 1 – Company Description
The company description is the first chapter of 10 for your business plan. The role of the Company Description is to define the organization, who it will be owned by, the capitalization of the business, the location of the business and generally what the business will do.
Chapter 1 to a certain degree is a summary of other chapters within the business plan like the capitalization information but it also carries unique information like, where the business will operate from.
Chapter 2 – Business Concept
The Business Concept chapter is the vision side of your business plan. This is where you get to put your dream down on paper. You will define in this chapter information like the concept design of your business, an explanation of what your business will look like, what sort of image it is going to have, what your customers will see when they walk up the street and or into your front door. It will also define exactly what your business is going to do and how you are going to do it.
In the business concept chapter you may like to put some samples in this chapter as to what you will be selling or offering. For example if you were opening a restaurant then you might put a sample menu into this chapter as a sub chapter or if you were cleaning dogs then you might put in your sales brochure.
Chapter 3 – Management Team
The Management Team sets out who is going to manage your business, who the key players are and what their experience is. This chapter alone can make the difference in securing considerable money, if you are using the business plan to get others to invest in your venture. If you can demonstrate in this chapter that the people you are going to enlist to help manage the business have solid experience in your target industry then investors or banks or private equity groups are more likely to back you financially.
You should also include in this section any lawyer approved management agreements and confidentiality agreements.
Chapter 4 – Market Analysis
The Market Analysis is specifically focused on talking about the industry in which you will be operating. This chapter should included lots of facts and figures from reliable and verifiable sources. The sources of this information could include information from Government agencies that provide statistics, information from the local chamber of commerce or better business bureau or your industry association.
All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.
One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it availab
After 11 years in sales, I’ve put together and delivered more sales presentations, briefings, and demos than I care to remember. But the nice thing about repetition is that after a few dozen presentations you get very good at reading body language.You can easily tell when the audience is engaged, when they’re confused, when they are bored, uninterested -- even angry and inpatient. (And that’s a good thing because you can quickly switch gears in response to this feedback!)I’ve seen it all. I’ve had people fall asleep on me (great boost to my self-esteem, as you can imagine). I’ve had others so excited, they almost cried (ok -- maybe I didn’t really see tears).Luckily, I’ve never had anyone walk out on me or ask me to leave.But that changes when you write copy. In essence, a direct response piece -- whether it’s a sales letter, an email, self-mailer, or landing page -- is a sales presentation on paper.And every time a prospect tosses your letter in the recycling bin -- or hits the delete button -– he or she is in “walking out on you” right in the middle of your pitch.**A Tough and Demanding Audience**So here’s how you can start using this technique to strengthen your copy: Imagin
Chapter 1 – Company Description
The company description is the first chapter of 10 for your business plan. The role of the Company Description is to define the organization, who it will be owned by, the capitalization of the business, the location of the business and generally what the business will do.
Chapter 1 to a certain degree is a summary of other chapters within the business plan like the capitalization information but it also carries unique information like, where the business will operate from.
Chapter 2 – Business Concept
The Business Concept chapter is the vision side of your business plan. This is where you get to put your dream down on paper. You will define in this chapter information like the concept design of your business, an explanation of what your business will look like, what sort of image it is going to have, what your customers will see when they walk up the street and or into your front door. It will also define exactly what your business is going to do and how you are going to do it.
In the business concept chapter you may like to put some samples in this chapter as to what you will be selling or offering. For example if you were opening a restaurant then you might put a sample menu into this chapter as a sub chapter or if you were cleaning dogs then you might put in your sales brochure.
Chapter 3 – Management Team
The Management Team sets out who is going to manage your business, who the key players are and what their experience is. This chapter alone can make the difference in securing considerable money, if you are using the business plan to get others to invest in your venture. If you can demonstrate in this chapter that the people you are going to enlist to help manage the business have solid experience in your target industry then investors or banks or private equity groups are more likely to back you financially.
You should also include in this section any lawyer approved management agreements and confidentiality agreements.
Chapter 4 – Market Analysis
The Market Analysis is specifically focused on talking about the industry in which you will be operating. This chapter should included lots of facts and figures from reliable and verifiable sources. The sources of this information could include information from Government agencies that provide statistics, information from the local chamber of commerce or better business bureau or your industry association.
All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.
One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it availa
Undoubtedly permission marketing could be used personalize almost every aspect of internet marketing. Some speculate that the world wide web has more than one billion pages of content! For the average Internet user that means alot of time searching through endless websites and cluttered pages jammed with ads completely irrelevant to their target search. I will explore the In's and Out's of what effective permission marketing can be used to achieve.First, let us examine the numerous advantages to the customer. They are exposed to the most relevant information to their interest. Unlike banner advertising, permission advertising has a greatly increased sale conversion simply because the customer indicated interest in the content they receive. This alone can eliminate tremendous amounts of navigating the net looking for the appropriate content. In turn, permission oriented marketing could reduce the overall number of untargeted advertisements. This could save truckloads of money for companies with large advertising expenses. The next advantage seems obvious, there would be no cost to the consumer. Simply viewing the information on the topics of their interest is enough! This information could take on many forms such a
In the business concept chapter you may like to put some samples in this chapter as to what you will be selling or offering. For example if you were opening a restaurant then you might put a sample menu into this chapter as a sub chapter or if you were cleaning dogs then you might put in your sales brochure.
Chapter 3 – Management Team
The Management Team sets out who is going to manage your business, who the key players are and what their experience is. This chapter alone can make the difference in securing considerable money, if you are using the business plan to get others to invest in your venture. If you can demonstrate in this chapter that the people you are going to enlist to help manage the business have solid experience in your target industry then investors or banks or private equity groups are more likely to back you financially.
You should also include in this section any lawyer approved management agreements and confidentiality agreements.
Chapter 4 – Market Analysis
The Market Analysis is specifically focused on talking about the industry in which you will be operating. This chapter should included lots of facts and figures from reliable and verifiable sources. The sources of this information could include information from Government agencies that provide statistics, information from the local chamber of commerce or better business bureau or your industry association.
All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.
One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it availa
As a customer service consultant I see things across many companies that most companies don’t see while working inside the company.o Company Policy One of the biggest problems is “company policy.” Many company policies are structured to protect the company from the customer instead of helping the customer get what he wants and has paid for. Your success will explode when your company, and your employees are structured with the customers’ wants and needs in mind.As a customer how many times have you been talking with a sales person, or a customer service rep and hear “sorry we can’t do that, company policy.” A barrier was thrown up between what you think is only reasonable and the company. For me, I’m out of there.Is the problem “company policy” or is it the employee? It can go either way. Often employees are trying hard to do the job the way they understand it, which can often be that they are there to protect the company from the customer trying to take advantage. That isn’t saying that employee is a “bad” employee. Only that he doesn’t understand what he should be doing. That’s where proper employee training comes in.o Employee Responsibility It is the job of the people in your company that
You should also include in this section any lawyer approved management agreements and confidentiality agreements.
Chapter 4 – Market Analysis
The Market Analysis is specifically focused on talking about the industry in which you will be operating. This chapter should included lots of facts and figures from reliable and verifiable sources. The sources of this information could include information from Government agencies that provide statistics, information from the local chamber of commerce or better business bureau or your industry association.
All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.
One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it availa
A limited liability corporation refers to a business unit that has acquired a unique legal structure. It is different from other forms of business structures, like sole proprietorships, partnerships and corporations. It provides the advantages of a partnership or corporation, while being shielded from the disadvantages of these business structures. It is thus a distinct legal business entity, which has risen from a cross between a partnership and corporation. The concept has been around for a long time but it is new to the United States. It is available now in all 50 states in United States, as well as other Anglophone countries. There may be differences, however, regarding fees, and set-up costs, based upon the law in various jurisdictions.A limited liability corporation is also referred to as a limited liability company. Being a unique amalgamation of various characteristics of corporations and partnerships, it has become a favored business entity for new entrepreneurs and investors. This structure provides the limited liability protection of a corporation without the restrictive conditions imposed on ownership and investment that feature in corporations. The company is an individual unit and the members are not held respo
All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.
One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it available to your investors. If you do not do this, they will question the validity of your findings. If they can take your raw results and verify what you have said then your survey results will be given a higher weighting during an investment review.
Chapter 5 – Marketing Strategy
The Marketing Strategy sets out what marketing and advertising you are going to do, to get the required business to meet your financial projections. This section will include how you are going to build that all important customer database, what mediums you will use to market your business. What marketing mix you will use to keep your customers coming back time and time again. In this chapter you will also address issues such as your Community and Charity Involvement plus who will be responsible for your public relations management.
Chapter 6 – Operations Chapter
The Operations Chapter looks at how your business will operate on a day-to-day basis. Issues to be included are how many staff you will employ, what positions they will hold, what training will they get, who your suppliers will be, an alternative list of suppliers if something should happen, the daily operations that will need to occur, what administrative systems you will put in place and finally the management controls you will put in place to ensure everything runs smoothly.
Chapter 7 – Investment Analysis
This is an important area for those people or institutions who will be investing into your business, cause essentially they want to know what they are going to get for their money. The Investment Analysis chapter will outline the full investment strategy, the investment types, the amount of the investment, the percentage ownership value for the investor, the investment roles and the Return on Investment.
The other area that I recommend that be included is the Equity analysis showing how Cash Distributions will be undertaken. From experience this area alone causes a lot of concern for investors and is often a sticking point when profits are being divvied out.
Chapter 8 – Growth Plan/Exit Strategy
This section is as important a chapter as the Investment Analysis Chapter. Knowing how you are going to expand your business and exit the business is your number one strategy and issue you need to address before starting the business. More so, you also must have it clearly articulated how your investors can exit the investment in your organization and also how you will expand investment options for other investors. For example, if you want to expand and to bring on more investment capital how will that affect the equity of the existing investors?
Each of these issues are ones that can often cause clear concerns and divisions with the investors in your organization and it is always best to have these issues addressed prior to the establishment of your business rather than once it has been started.
Chapter 9 – Financial Projections
Everybody likes this chapter as it defines what sort of money everyone is going to make. This section should include all project sources and how the cash will be used, it should define where all capital acquisitions will becoming from, sales projections, expenditure projections, labour projections, cash flow projections (the most important issue of all) and detailed summary statement of income for 1 year, 2 years and 5 years.
One of the other areas I
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.casualarticles.com/article/41606/casualarticles-Small-Business-Secret-4--10-Chapter-Elements-Every-Business-Plan-Must-Have-to-Be-Successful.html">Small Business Secret #4 – 10 Chapter Elements Every Business Plan Must Have to Be Successful</a>
BB link (for phorums):
[url=http://www.casualarticles.com/article/41606/casualarticles-Small-Business-Secret-4--10-Chapter-Elements-Every-Business-Plan-Must-Have-to-Be-Successful.html]Small Business Secret #4 – 10 Chapter Elements Every Business Plan Must Have to Be Successful[/url]
Related Articles:
Measuring Customer Satisfaction - Six Steps in Conducting a Successful Survey (Part 2 of 3)
PayPal Solutions - 5 Steps to Manage Your PayPal Account
Bookmark it:
|