Financial Plan continued

Your financial plan should also include a section that list an assumption phase. This will include factors like the current economy, interest rates, spending trends, etc. Document how these factors will affect your business and influence its long term success.

You also want to include your start-up costs, ongoing monthly expenses, expected monthly income, and your break-even point. Determine when you business will be profitable. Using database resources at your local library should assist in gathering how competitors’ expenses and income may compare to your anticipated expenses and income.

Marketing Plan

Your marketing plan will dictate how you advertise your business. It should include a market segmentation of the of your target market. This is where you will list your marketing strategies and define who your ideal customer is. This section will include your sales strategy and how you plan to plan to grow in the next three years. Include a 3 year sales forecast that displays your sales year by year.

Finding articles to support your business can be found using another library resource, General Business Files ASAP. This database allows you to search thousands of business journals to find ones that support your business concept.

When looking for industry norms and key business ratio data, use another library resource, Dunn and Bradstreet. Your library may have free access and you can use this as you gather key information.

Appendices

This section will include the additional tangible items to enhance your business plan. This will include:

* Resumes
* Pictures of Products
* Professional References
* Market Studies
* Floor Plans
* Map Of Location
* Articles from Trade Journals supporting your type of business

When you are done, you should have a business plan that is written in a clear and concise manner. After it is complete, follow it! Use it to track your progress and compare your projections to the actual expenditures and income.

Using this series as your guide, you should have many tips to assist you in getting business plan started.

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Don’t fall in love with the idea of your business. You may have dreamed about the idea of this business for years and are just acting on it. You must still treat it as a business and not let the thought of if prevent you from viewing your business realistically! You must think strategically and be objective about your chance of success.

Your business plan should enable you to put your ideas into a workable plan or feasible blueprint. It will manage all of your business elements and allow you to develop a game plan for where your business is headed. As you develop your business plan, you should know what it contains and not just fill in the spaces of a blank business plan template.

Components of A Business Plan

Here are the simple components of a business plan that you can use as a guide:

* Executive Summary
* Mission Statement
* Company Description
* Ownership
* Operations
* Financial Plan
* Marketing Plan or Sales Plan

Executive Summary

Your executive summary should emphasis the high points of your business. It will state the purpose and marketing potential of your business. It should also contain the milestones, products and services, and financial results of our business. Focus on what makes your business unique and draw attention to the best parts of your business. In general, you will write this part last as you is developing your plan.

Mission Statement

Your mission statement should clearly state your company’s long term vision. It will illustrate how you plan to grow and develop your company in the years to come.

Company Description

Your company description will describe type of business you are in. It should also list your services and products. This where you will describe your market, competencies, and distinctions. Lastly, it will define your keys your success business.

Ownership and Management

This section will describe your personal qualifications for this type of business. It will list your experiences in your business field and what strengths plan to bring to your business. This is where you will include your resume and reviews that highlight your strengths and experience.

Products and Services

This section will list the products and services you plan to sell. It should be description since they will be the key to your success.

Financial Plan

This section will track the expected cash flow in and out of your business. There should be month by month and annual comparisons. Use this plan as your blueprint monthly while you are conducting business. You can compare where you budget funds and where the money was actually spent.

This section should contain the following:

* Balance Sheet
* Profit and Loss Statement
* Statement of Cash Flow
* Sources of Funds
* Uses of Funds
* Vendors and/or Suppliers

The key to successful cash management is how you monitor the flow of your cash flow. You want to remember the basics: Slow cash flow going out while speed up the cash flow coming in. Slowing the flow of cash flow out can be done by developing terms with your vendors and suppliers. This allows you to temporarily delay payment while you are actively bring in cash flow from your business sales.

The last section (part six) of this series will finish the financial plan section and go into the marketing plan.

Tywan Miller has http://www.MyExcelTemplates.com available to help you with Microsoft Excel. To learn more about components of a business plan visit our business plan section!.

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After you have done research on niche, it is time to make some decisions in your business plan. These decisions will be assisted by research done with the Business Reference USA database and Customer Reference USA database. Use both of these to research your customers and competition. Talk to your library to see if they offer free access to this database.

Defining Your Products and/or Services

Brainstorm to decide what products (and/or services) you want to sell. Provide details on the products (and/or services) and decide what will make your product unique to the existing market. If you are unsure about how to sell a product or service, try working in that industry for a few months. This will give you opportunity to see how this type of business is run. You will also have the opportunity to ask questions, take notes on what you like and what you plan to do better in your business!

Define Your Customer

Here are some questions to ask when you are defining your customer base:

* Who are your customers?
* Where are they located?
* How do you plan to reach them?

The Customer Reference USA database will assist you in getting demographics about potential customers.

Define Your Market

Decide on your market demographic using Customer Reference USA as a valuable research tool. Using Customer Reference USA database, you can get the following data about your market:

* Exact Address and Phone Numbers of potential customers
* Median Household Income
* Median Home Value
* Percentage of owner occupied housing

Using this data, you can decide what type of marketing campaign will be most efficient for your customer base.

Define Your Competition

* Do you have any competition?
* Where are they located?
* What is your competition’s strength and weakness?

After you have answered these questions, be prepared to sell and promote your strengths in your business plan. Using Business Reference USA, you can get business demographic information on your competition that includes:

* Sales Volume
* Credit Rating
* Location
* Years in Reference USA database
* Year Established
* Number of Employees
* Business Expenditures
* UCC and Public Filings
* Competition Report
* Brands and Products they sell

Reference USA is a valuable research tool for your business plan. It will help you define your niche, customers, competition, market, and products and services. The best part about this is that is free at your local library.

Part four of this series will focus on using online business resources. Many of these resources are free and will enable you get the information and guidance you need to develop your business plan.

Tywan Miller has http://www.MyExcelTemplates.com available to help you with Microsoft Excel. To learn more about market research for business plans visit our business plan section!

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Part of the organization can be done using Excel templates. If you scour the internet, you will find tons of resources to assist you with this challenge. One of the most important things that must be done when starting your business is the development of your business plan. So many people jump into the idea of starting a business without the proper planning required to know how to start their business. We have all heard the old saying “if you fail to plan, then plan on failing”.

Developing your plan may be intimidating because it may remind us of writing term papers in high school or college. We all remember how fun those tasks were. You have to imagine your plan being the building block of the foundation of your business. When done properly, your business plan should serve as your guide for actions to take now and in the future regarding your business.

Use your business plan as a management tool to test the feasibility of your business. Does it make sense on paper? Can you see the strong and weak areas in your plan? If you did not take the time to document these areas, you may be surprised by challenges that come up once you start your business.

This series will address the importance creating your business plan and using your templates to make this process easier. Templates will allow you to focus on the content of the business plan rather than the design and aesthetic of it. With templates in place, you concentration can be dedicated to the many task involved in launching your business!

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Something else to keep in mind: Get the word about your being in business out to the people in your area. Get the Chamber of Commerce to mention you in their newsletter; send “blurbs” about your business and service to all your area newspapers, TV and radio stations; arrange to put on an all-day demonstration of your work on the carpeting in the covered mall areas in your city’s shopping centers, and hand out brochures to all the people watching; rent a booth and hand out brochures at all the home building, remodeling, and home improvement shows. Do the same thing at your county fair, and hold seminars on the care of fine carpets. The ideas for free publicity and promotion are limitless, so use your imagination and -push” to get your name in the paper and on radio and TV as often as possible.

There’s always going to be competition. Some of it will be good for you, and some of it will be bad for you. Accept it as a part of life. Just keep in mind that you’re in business because you feel you can do a better job; you can do it more efficiently; and you can do it with greater satisfaction to your customers than anyone else. Be aware of the competition, but don’t worry about it. Just stick to your own business plan, and you’ll be okay.

Depending on the population of your area, you should be planning for additional carpet cleaning machines and the hiring of people to do the work for you within three to six months – that is, unless your original motive for a business of your own was to see how fast you could work yourself to death. Assuming that all goes well with you, within a couple of years you should have “hired help” running the business while you enjoy the fruits of all the hard work you put in at the outset.

I personally don’t see the need for you to even consider buying a franchised operation. There’s just too much real help available for the “independent” to go to the considerable expense and obligation of a franchise. Starting from scratch, and as an

independent, this is most assuredly a low-investment, low-overhead type business – the kind we recommend for anyone and everyone who’s determined to make it on his own.

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Several equipment manufacturers have financing plans available. It would be well to check out several of these plans before purchasing your equipment. Even better than the financing plans offered, some of the manufacturers have business start-up programs to help you along the way. They will provide you with a complete carpet cleaning business plan, numerous advertising materials, a regular newsletter featuring business ideas from all the buyers of their equipment, and low cost supplies.

Before actually starting work in your carpet cleaning business, you should register your business or company name with your county clerk. The cost for this is nominal, and you will receive a registration certificate or card, which you will need to open a bank account in your company name. You should also talk to a few business insurance agents to get complete business insurance against damage to any of your customers’ carpets or accidents in their homes. Being able to state “All work fully in sured,” will greatly add to your business image.

Think seriously about buying or leasing a van for your service calls. A uniform with the name of your company emblazoned on the back, plus a late model van with your company name neatly painted on the side will do just about as much to build your image and your business as a full page advertisement in the Sunday paper.

On the subject of advertising, so long as you don’t erect a sign on your front lawn or your roof, proclaiming for all the world to see the fact that you’re operating a carpet cleaning business, you won’t have any problems operating your business from your home. Sooner or later though, you’ll have to buy a City or county business license. So, the sooner you do this and are approved by the licensing agency in your area, the better you’re going to feel and the more confidence you’ll exude in all your business dealings.

Definitely plan to run a quarter page ad in your local business and telephone directories. You’ll really be surprised at the number of calls you get from these ads. At least in the beginning, you should run a regular ad in your newspaper. This should be a display ad, at least 2 columns wide by 4 inches deep, and should appear in your Wednesday and Thursday papers. As you become established, it won’t be necessary to run more than an ad every other week in your Wednesday papers and before the holidays such as Easter, Thanksgiving and Christmas, when people always want to spruce up their residences.

Radio or television advertising really doesn’t pull that well for this kind of business when you compare the costs to the number of jobs you get from it. I would suggest, that you contact these media and try for a trade or barter agreement. You clean their carpets on a regular basis, and they allow you to store up advertising credit to use in the spring and fall when people are really serious about spring cleaning, and and Christmas preparations.

It’s also recommended that you register as a “probationary member” of your Chamber of Commerce. This will add prestige to your business, and enable you to associate on equal terms with the various other business leaders in your community. Joining and attending civic club meetings, participating in their causes and events, will also result in long-range business income for you.

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Just as soon as you have job appointments lined up, hurry over to your local carpet cleaner distributor, your local rent-all store, or even some super markets and rent a steam-clean carpet cleaner. Most of the time, you won’t have to pay until you return it, but even if you do have to pay at the time you take it, the cost is usually $25 or less for twenty-four hours. Read the directions and make sure you know how to operate it. Then load it into your car, van or pickup, and set out for your first appointment.

You should bear in mind that carpet cleaning is a type of service business that takes you into the homes of your customers. Therefore, how you look, dress, and handle yourself – particularly in the presence of your customers – will have a direct bearing on the success of your business.

Be clean, and conduct yourself in a business like manner at all times. Dress neatly. In fact, one of the best ways to get off to a fast start is to purchase a working uniform from Sears, Ward’s or Penney’s. Drop by a “pennant shop” and have them make up a special oval name tag which can be sewn over the left breast pocket. At the same time, have them make up a large oval with the name of your business and your phone number to sew on the back of the uniform. When you hire people to help you with the work, outfit them similarly.

Go out of your way to be polite and friendly with your customers, but refrain from being fresh. Avoid getting involved in extended conversations – if you are to keep on schedule, you won’t have time for a lot of talk.

Keep your equipment clean, properly maintained, and operating smoothly. Have your supplies organized and within easy reach. Don’t allow yourself to be caught in a position where you have to make excuses because the equipment won’t function properly, you can’t find what you need, or you suddenly find yourself out of certain supplies.

When working these advertising specials, just concentrate on doing the job and moving on to your next customer. If the customer questions you about the cost to do the other rooms, give an estimate and set up a tentative appointment, which you should later confirm with a call-back after checking your schedule. Don’t try to sell your complete carpet cleaning services on this first call, but do be sure to leave a business card with the name of your company and your phone number.

Your service is the “deep-down shampoo cleaning” of carpeting in your customers’ homes or places of business. Always strive to use the best equipment that’s available. Later on – possibly in a month or six weeks – you’ll want to buy or lease your own equipment. Your business will grow and flourish as a result of your doing a good and complete job every time. It may take you a few minutes longer – especially when you are learning the equipment and establishing a procedure – but in the end this will pay off with satisfied customers; and a group of satisfied customers is the key to your becoming wealthy in this business.

You want your customers to call you again and again to clean their carpets. Being pleased with your work, they’ll spread the word about your service for you, free of charge! And this, of course, will generate an almost unlimited amount of ongoing work for your new business.

The average price to the customer to have a 12 by 18 foot wall-to-wall carpet “shampoo cleaned” is about $50. Your materials to do that size job will cost about $5.

The typical job involves more than just one room, and the average period of time spent on the typical job is about two hours, with an average billing to the customer of $75 – materials for each $75 job cost you about $10 all of which means that with just five appointments per day, five days per week, your gross income before expenses will be approaching $2,000 per week.

Most people who set up carpet cleaning businesses manage to gross $50,000 or more the first year. We’ve described to you how to get started with virtually no real investment. However, we do advise you to either purchase or lease your own carpet cleaning equipment just as soon as you can possibly afford it.

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Even before the acquisition of equipment, you need customers. Your prospects are all the businesses and homes with carpets in your area. Your problem is going to be in reaching these prospects, impressing upon them the benefits of your service, and getting them set up with an appointment for you to do the work.

We have found that the least expensive and most productive method of reaching these people is by way of neighborhood “hand-out” flyers or announcements, delivered door-to-door by Brownies or Cub Scouts, or members of other youth organizations. These flyers are advertisements or announcements of a “Carpet Cleaning Special,” printed on 5 1/2 by 8 1/2 sheets of paper that invite the recipients to call you for an appointment.

Study the carpet cleaning service ads in your local newspapers, the yellow pages of your telephone directories, and any similar flyers you may have received or seen. Make a pencil sketch of your own flyer, emphasizing customer benefits and your capabilities of doing the job take your ideas to the advertising class at a local college. Explain your project and ask for volunteer help. In most cases, you’ll be favorably impressed with the work, and will only have to pay with a copy of the finished flyer for the student’s portfolio, and a recommendation or testimonial about his work for you. Even if there should be a charge for the work you have done at the college, it will be a reasonable one.

Contracting with an advertising agency will probably take longer and will cost a significant amount of money. However, you might be able to contact a staff member who does free-lance work on the side. But you should set a specific date for completion of the project, and agree to pay no more than half the total estimated cost until the job is finished, and meets with your approval.

The next step is to take this original of your flyer to a printer, and have printed whatever number of copies you want to start. Most quick print shops will be able to print up to 20,000 copies, and deliver in a reasonable time, with nominal costs. If you decide to start with more than 20,000 copies, you will do better by going to a regular commercial printer. Larger quantities that would take a quick print shop all day can be handled by a commercial print shop in a few hours.

While your flyers are being printed, you should be lining up your delivery people – local Brownie or Cub Scout Troops. No big problem here. Either look up their local headquarters office in your phone book or call a friend or two with children about the right age and ask for the name and phone number of troop leaders. Arrange to pay these scout troops $10 for each thousand circulars they hand out door-to-door.

One other thing before you start handing out your flyers – be sure that you have someone available to answer the phone and set up appointments for you. It’s usually best to have a woman do this; it makes the caller think of your service as an established business. You can pay an answering service to handle these calls for you, but if your wife or a friend is available, that would be even better. It is, however, imperative that a “live voice” answer your phone. People have some strange ideas about answering machines, and most businesses find they do much better not using them.

Your “secretary” should have a set pattern of answering your calls, and an appointment book. Usually, your flyer will advertise a special such as “Your living room carpet deep-cleaned for just $20. Get all the ground-in dirt and unpleasant odors out. A professional job by experienced master carpet cleaners, and we can do it all for you tomorrow. Give us a call; set up a carpet cleaning appointment with us now; and we’ll have your home sparkling clean, ready for company in no time at all!” This special offer should take you no more than an hour in the customer’s home, meaning that your secretary can book appointments for you at the rate of one every ninety minutes or less, depending on the travel distance between appointments.

By setting your first appointment for 8:30 in the morning, and working thorough the whole day, allowing 30 minutes between appointments, you’ll be able to handle seven appointments per day. At $20 per call, you will gross $140 per day. Your secretary

should book you solid from 8:30 through 5:30 each day. Naturally, some people may want you to stop by at a certain time that’s already booked. In that case, you set them up for their requested time on an open day. You’ll also find that as you gain experience, you can cut down considerably the time it takes you to handle each job, as well as your travel time between jobs, enabling you to book more appointments.

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Insurance can cover a variety of catastrophes including natural disasters, fire, and theft. Providing good health coverage for your employees can help you retain them. However, these are not the only types of insurance available. You may be required to carry life, business interruption, or auto insurance depending on the nature of your business.

Other types of insurance cover business liability or damage to your inventory. The easiest solution for new business is to purchase a business owners policy or package policy. These packaged policies cover the most common business insurance needs and are usually cheaper than buying the policies one-by-one. If there are specific insurance needs required for your business, such as product liability or professional liability, you can purchase these separately.

Banks, investors, and other lenders may require a business owner to have good insurance coverage before processing a loan; this minimizes their risk of losing their investment. Investors and partners may also require a business to have a “key man” insurance policy-life insurance on the owner or crucial employees-so the business can survive in the event something happens to these people.

Who Should I Call?

There are a couple of different ways to buy insurance for your business. Institutions you already have a relationship with-such as your bank, home insurance agent, or accountant-may be able to recommend an insurance agent. Ask fellow entrepreneurs who are in the same industry to suggest an agent. You can also reach out to your Local Chamber of Commerce. If you do not know anyone in the same field, visit a place of business and ask to speak with the owner.

Make sure you contact your industry trade associations; there might be specialized insurance companies that cater to your industry. Visit Web sites such as http://www.idealist.org to get a list of non-profit associations catering to your industry. Contact these associations for a list of insurance providers.

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Starting a business involves a lot of technicalities and paper work. If you think that you can just think of an awesome idea and then sell it the next day, then you have a lot to learn about starting a business ventures. In order for your business to be allowed to operate, it has to comply with government rules and regulations. Each state may have a different set of rules, but some rules are shared by all states. One of these rules is the requirement to have several types of business insurance.

What are the different types of business insurance?

If you want to know what are the different types of business insurance that exist, then read on. First, there is what they call general liability insurance. From its term, the insurance covers a variety of incidents. This insurance fund is used for payments regarding injuries, accidents, and negligence claims. For settlement on lawsuits, this is also secured by companies.

The second type of business insurance is the product liability insurance. When a company sells a product, there are times that a defective product goes to the public. If the defect causes harm or injury to a consumer, the company uses the fund from the product liability insurance. An appliance store is an example of a business that needs this type of insurance.

If you plan to sell a service, professional liability insurance is required. For example, a doctor needs to get one of these packages in case there will be instances of malpractice or negligence. Other professionals that need to have this include accountants, lawyers, and a lot more.

These are just three of the required insurance funds a business must get. They will protect the company against incidental expenses caused by accidents, negligence, or any reason for that matter.

A patent is a government granted right that allows the inventor to exclude anyone else from making, using or selling the invention in the country that issued the patent. The government grants this right to help encourage inventors to spend the time, money and effort to invent new products, technologies and the like.

In the United States, the term of a new patent is 20 years from the date on which the application for the patent was filed or, in special cases, from the date an earlier related application was filed, subject to the payment of maintenance fees.

When a patent expires, the invention enters the “public domain” allowing anyone to make, use or sell the invention without needing the permission or paying any royalty to the inventor. The government requires patents to expire because otherwise one person can control an entire industry if that person was the first to conceive of a type of product.

The patent law specifies the general field of subject matter that can be patented and the conditions under which a patent for an invention may be obtained. Any person who “invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent,” subject to the conditions and requirements of the law.

In order for an invention to be patentable it must be new as defined in the patent law, which provides that an invention cannot be patented if: “(a) the invention was known or used by others in this country, or patented or described in a printed publication in this or a foreign country, before the invention thereof by the applicant for patent,” or “(b) the invention was patented or described in a printed publication in this or a foreign country or in public use or on sale in this country more than one year prior to the application for patent.

If the invention had been described in a printed publication anywhere in the world, or if it has been in public use or on sale in this country before the date that the applicant made his/her invention, a patent cannot be obtained. If the invention had been described in a printed publication anywhere, or has been in public use or on sale in this country more than one year before the date on which an application for patent is filed in this country, a patent cannot be obtained.

In this connection it is immaterial when the invention had been made, or whether the printed publication or public use was by the inventor himself/herself or by someone else. If the inventor describes the invention in a printed publication or uses the invention publicly, or places it on sale, he/she must apply for a patent before one year has gone by, otherwise any right to a patent for an invention will be lost. The inventor must file on the date of public use or disclosure, however, in order to preserve patent rights in many foreign countries.

According to the law, only the inventor may apply for a patent for his or her invention, with certain exceptions. If the inventor is dead, the application may be made by legal representatives, that is, the administrator or executor of the estate. If the inventor is insane, the application for patent for an invention may be made by a guardian. If an inventor refuses to apply for a patent for his or her inventions, or cannot be found, a joint inventor or, if there is no joint inventor available, a person having a proprietary interest in the invention may apply on behalf of the non-signing inventor.

If two or more persons make an invention jointly, they apply for a patent as joint inventors. A person who makes only a financial contribution for the invention is not a joint inventor and cannot be joined in the application as an inventor.

Additional information on how to patent an invention is available at http://www.newideatrade.com.

About The Author

Neil Armand
Intellectual Property Professional
Global Commerce & Communication
Telephone: 320-250-0950
Fax: 320-230-1096

Email: globalcomm@astound.net
URL: http://www.gcchq.com

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Before you can get a patent, the first step to perform is a patent search worldwide to find out if your idea is already patented by others. Obviously, it’s just a waste of time and money looking forward to your patent application only to find out that your idea is not original and has been patented by other people.

Keep in mind that a patent search should be carried out by a skilled and experienced patent researcher who performs thorough search worldwide with the use of specialized tools and techniques like patent cross referencing and classification code systems. The researcher utilizes worldwide and secured databases, which can’t be accessed by an individual inventor like you.

After the patent search is complete and no idea has ever existed, the next step on how to protect your ideas with a patent is for you to submit an application to the patent office. You may be asked to make some minor developments or changes in your idea. This may include asking you to adapt and include other idea to yours so it does not conflict with other patents or just to further improve the original features of your idea.
You can file the patent application personally or you can ask a professional patent agent to do this on your behalf. Because it is an important document, it’s best if you get the services of a professional patent lawyer. It’s good to know that there are rights that you can exercise and steps that you can carry out on how to protect your ideas with a patent.

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Even if your business is not as enormous as the giant corporations, it doesn’t mean you should disregard writing a business plan. In fact, you should learn how to write a business plan for a small business. Why?

Because it gives you structure. It provides your company direction and goals. Without it, you’ll just be like a buoy floating on the water, without any real destination. How do you expect your business to grow successful then?

Learning how to write a business plan for a small business is quite easy. Below are your guidelines.

1) Profile

One of the first things you must consider is writing your company profile. What does your company do in the first place? How long has it been in existence? Who do you cater to? These things will give you a sense of what the company is all about and what it should look like to the customers. This will make sure that you stay on track.

2) Mission-Vision

Every business should have a mission-vision. It doesn’t matter how small or big your company is. A mission-vision also helps keep you on the right path. It reminds you of your business’ goals and aspirations. From here, you can already deduct just how long you plan your business to stay.

3) Objectives

Your objectives will require you to come up with medium-term and long-term goals. When writing a business plan for a small business, this is the part that speaks of what your company is really here for. What does it hope to accomplish?

4) Strategy

How will you achieve your goals and your objectives? How will you fulfill your mission-vision? That is what Strategy is here for.

Here you can write down just how you plan to make things happen. From time to time, you can check this part to see if your strategy is indeed working. If it doesn’t, then you can always change your strategy.

5) Summary

The summary is written at the end of the business plan. It highlights all the important parts and recaps the points that need to be emphasized.

While this part might be longer than the others, it’s also very important. If your customer doesn’t want to read through your whole business plan, they can always look up everything in the summary.

This is how to write a business plan for a small business. Make sure to include all of the above mentioned components to make sure your company stays organized. If your business plan is clear and organized, there’s a higher chance that your actual business will also thrive.

For a simple easy to follow guide on writing your business plan, we suggest this manual: The Secrets of a Killer Business Plan at just $27 you’ll be able to instantly download this step by step guide – here are just some of the things you’ll learn in The Secrets of a Killer Business Plan

• 7 compelling reasons why you should write a Business Plan
• What exactly a Business Plan is
• Who you can turn to for help
• The main 3 main components which form the framework of a ‘killer’ Business Plan
• A step-by-step guide on how to prepare a Profit and Loss and Cash Flow forecasts -something that fills most small business owner with dread!
• 6 presentation tips to ensure your Plan looks its best

Just like any venture, a business needs to have a solid plan that must be followed. It is true that a business begins in the minds of a person in the form of an innovative idea. That is only the first step in materializing your business. The next thing to do before anything else is to construct a well thought business plan. This will place in detail all the aspects of a business – from start-up, implementation, and evaluation. If you want to know the best kept business plan secrets, then you have come to the right article. All you have to do is read on.
One of the best kept business plan secrets is to keep your business plan as simple as possible. Write your plan in a way that any person can understand it. Of course, the technical terms have to be there, but make it a point that your ideas are well conveyed to anyone who reads it. There will be very many people who will want to read your plan – investors, the government, even the public. So, it’s best to make a short, concise, and very understandable plan.
You must also master what a business plan contains. You must make sure that all the essential parts are there – from the title of the business, vision and mission, to the financing sources, product overview, to the workforce needed, among others. This will be very helpful once your business starts operating. The plan will serve as a guide to refer to when you need help with an aspect of managing your business. Your plan must provide the answer for those concerns.
These are the best kept business plan secrets. Always put these in mind when you make your own business plan. If you do so, you will be a step closer to becoming a successful entrepreneur.

For a simple easy to follow guide on writing your business plan, we suggest this manual: The Secrets of a Killer Business Plan   at just $27 you’ll be able to instantly download this step by step guide – here are just some of the things you’ll learn in The Secrets of a Killer Business Plan

• - 7 compelling reasons why you should write a Business Plan
•  What exactly a Business Plan is
• Who you can turn to for help
• The main 3 main components which form the framework of a ‘killer’ Business Plan
• A step-by-step guide on how to prepare a Profit and Loss and Cash Flow forecasts -something that fills most small business owner with dread!
• 6 presentation tips to ensure your Plan looks its best

With millions of jobs lost, the foreclosure rate at the highest it’s ever been – and Economists projecting the worst recession since the Great Depression era – many are surprised to see so many Americans jumping at the opportunity to start their own businesses. If we’ve learned anything recently, it should be that even the most stable of industries and corporations are subject to failure. Americans are learning the hard way that no matter your education level or financial status – there are no guarantees. This has prompted thousands to return to the American dream of entrepreneurship and small business ownership. Now many are facing the uphill battle of starting a business while working a full time job! We will explore the best options, give ideas, business tips and all the latest news in start up businesses that you can create while working a full time job!

Here are several things to consider when brainstorming for business ideas.

1. Have an honest conversation: With yourself! Before you begin the process of piecing together your business plans you really need to sit down and list your strengths and weaknesses. Do you have the energy to see it through? Are you self-motivated? Do you have the technical know-how? A positive outlook? Where do you see yourself in 1,5 and 10 years? An estimated 75-80% of all businesses fail within the first year and much of the reason for that falls squarely on the shoulder of the person running the business!

2. Will you start an online or offline business?: To be clear, every business must establish an online presence. If you have a business and do not have an online presence consider yourself woefully behind the times. The Internet is one of the single best sources for free targeted advertising and exposure. Now just because you have an online presence does not mean that you have an online business. While you are brainstorming ideas, you should consider starting an online business. Are you a talented graphic designer? Skilled writer or editor? Savvy in retail? If so – an online business may be just the start up for you!

3. Is there a demand for the service or product you are supplying?: Market research is a vital aspect of the business brainstorming process. You may be the best paper mache airplane maker in all the world – but if there is no demand for your paper mache airplanes, then your business has failed before you could even start it. Use the Internet, poll your friends, and make note of new trends when considering a specific business idea. Make a list of your top three to five ideas and survey the people around you.

4. Can you compete? The next step in market research is checking your competition. Your love of electronics coupled with a desire to start a brick and mortar electronic store does not mean that you can compete with retail giants like Best Buy, Wal-Mart and Circuit City. Be realistic about your market chances.

5. What do you have to get started?: While we will explore opportunities that do not require a great deal of start up monies, there will always be out of pocket expenses associated with starting a business. Take stock of your assets – do you have a computer? Printer? Software? ….Money!? There are some things that will be absolute necessities to starting your business, if you don’t have them, access to them or the money to buy them – you may want to consider other options.

6. A great support group?: One of the biggest obstacles faced by aspiring business owners is loss of focus, motivation and encouragement. We all lose steam, it’s natural. Having a system or group of people around you to help you re-charge and re-group is paramount to a successful business owner. The reality of it is not everyone will believe in you or support your efforts – but don’t let your focus be on that group; appreciate and cherish those who are!