A business plan is something that every company needs to have. This plan will keep the company on track with the main goals. It is essential that everyone remains committed to the plan as well. Veering off of the path that the business plan has already paved is risky and can have harsh consequences Of course, once you have made your business plan, you are allow to alter it, but nothing should be done within the business unless it is written in the plan. This isn’t the problem that most companies have however, normally staying on the plan is relatively simple, but it is coming up with the plan that is hard. It takes a long time and a lot of effort to put it together. The only way to make the business planning session as pain free as possible is by following a business plan strategy.

The business plan strategy is a step-by-step method to walk you through the steps of creating a business plan. Before you start writing any business plan, you need to have a few other things in place. First of all you will want to make sure that you have a mission statement. The mission statement for your company is the foundation of not only why you started the company, but also what the company is intended to do. The statement will offer a firm foundation for your company and also a building block for the rest of your business plan. The idea is that everything must be tested against the mission statement. If you have an idea or a plan for the direction of the company, take it back to the mission statement and ensure that is falls within the bounds of what the company stands for.

Once your mission statement is in place you will need to gather all of your management team and discuss what the direction of the company should be. This will include the size of the company, the worth of the company, any new branches or production that the company would like to include and the list goes on.

Now you have your outline for what you would like to be done, it is now a matter of putting time frames for each project. Your business plan can reach as far into the future as you would like it to, but remember, the further you go, the more time and planning it will need. Also, the further you plan, the more likely the plan will have to be altered because of unforeseen conditions. While you are putting time slots on each of your objectives, you will also want to discuss what is going to be needed to make each objective happen. Many times people will say they want to make twice as much money, but have no idea how they are going to do it. The business plan requires that you have the how as well as the what of the future of your company written down.

This is essentially all the business plan is. Of course you will want to put it in the proper order and present it in such a way that is appealing and easy to understand for all of those who will see it, but the planning is finished for now. You will want to review your business plan frequently to ensure that you are on plan, and if things have started to change you will want to update and revise your plan. This again, will require a gathering of management staff and retracing the steps all over again.

By: Success Galore

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When you start a company, there are a lot of things that you need to keep straight. On top of keeping track of your employees and customers and making sure that the business is running correctly today, you will also need to work on planning. Planning will help you decide how you want the company to look and run down the road.

After that you will want to take a look at what features the software actually has. You can find software out there that has multiple features all in one, or just a basic business planning software. Some of the best business plan software companies will include financial planning, automated succession planning and market development all on their software as well. This gives you all of the tools that you will need to plan out not just the next couple of months, but the next couple of years. This is the type of planning that will help your business stay focused on the tasks that need to be done and also gives the reasoning behind each task.

The prices of this software will vary of course, but always stick by the old saying, If it sounds too good to be true, it probably is. This runs true for pretty much anything, and that includes business planning software. Don’t be afraid to spend a little more money from a company that you’ve heard of or has at least been recommended to you by someone else. This ensures that the company is reliable and is selling something worthwhile.

With software like this will only make your life and your job easier. They will walk you through how to do each feature, and will end up doing a lot of the work for you, while you can get to more important things. So spend a little time searching for good software and spend the money to get something that is useful to you and to your company. The software will quickly pay you back with the time and energy you will save, as well as erasing most potential mistakes or miscalculations.

By: Success Galore

Business Plan Software: Do You Need It?

Business plan software is something that often gets overlooked and isn’t considered to be a necessity for some reason. In my opinion, business plan software is essential, it is not a luxury. I am a huge advocate of business planning.

To Have Proper Property Management You Need a Business Plan That Works

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Business plan software is something that often gets overlooked and isn’t considered to be a necessity for some reason. In my opinion, business plan software is essential, it is not a luxury. I am a huge advocate of business planning. When people ask me if they need a business plan, my response is, “Absolutely!” You see, starting a business without a business plan is akin to starting college without a degree plan. If you don’t know where you are going, you won’t know how to get there. You will waste your time and your money if you are not following a plan. It’s really that simple!

So, you know you need a business plan, but what about business plan software? For business planning, there are really three alternatives: 1) crafting your own business plan from scratch; 2) hiring a business plan writer or business planning consultant; or 3) using business plan software to write your own business plan. Each of these alternatives has its own advantages and disadvantages.

Writing your own business plan from scratch is certainly a possibility. Doing so gives you the freedom to format and arrange the plan in any way that you see fit. On the other hand, doing financial projections, which are necessary for the purpose of budgeting and financial planning, can be difficult to do without a business plan program, or at least financial projection software or spreadsheets.

Hiring a business plan writer makes sense for some people. A business plan writer is generally well-versed in business planning and will have insight that will assist you in preparing a comprehensive business plan that takes everything into account. The disadvantages to having your business plan professionally written are the expense associated with the initial plan, and the limitations that exist in regard to changing it as your business evolves, which is something that business plan software empowers you to do.

Business plan software is relatively inexpensive when compared to hiring a professional business plan writer or consultant. However, when compared to doing your own plan from scratch, it may seem like an unnecessary expense. Business plan software does have many advantages. A good business plan software package, like Business Plan Pro by Palo Alto, has the headings and categories for a business plan already set up for you. It also has guidance throughout the business planning process that explains what to include in each part of your business plan.

What I really love about Business Plan Pro is that it is so easy to do financial projections using the business plan software, whether or not you understand accounting. The main financial sections include a section for start-up costs, one for income projections, one for a proforma balance sheet, and one for a projected cash flow statement. Information that input into one of the financial forms automatically transfers calculations to the other financial statement forms making the process of projecting your financial plan a breeze.

Another huge advantage I see in regard to business plan software is that when you use business plan software to create your own business plan, you can make changes to it anytime you need to. It doesn’t become a stale document that sits on the shelf and collects dust. A business plan should be always evolving. You should update your business plan frequently including new goals, objectives and milestones. You should also adjust your financial projections regularly for the purpose of budgeting. Business plan software makes it easy to do.

If you choose not to use business software, and to create your own business plan from scratch, you will need some guidance unless you are a professional business planner yourself. The Small Business Administration at sba.gov has some excellent resources and guides about business planning. If you choose to hire a professional business plan writer, do review their qualifications and references and make certain that you understand exactly what is included in the business planning services they are offering.

By: Christopher Enders

About Giving Away Business Plan Software

… we have the second highest unemployment rate in the country — so for one day we gave away our premier Business Plan Pro software to anybody in Oregon who wanted enough to go to one of the 84 locations and pick up a download card.

Can you make a good business plan without a business plan software

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A business plan guide is a great place to start when you are getting ready to write your first business plan. Perhaps you have found a book about writing business plans, or are following a template, but chances are, these materials will only focus on the steps necessary to create your business plan and will fail to point out the critical mistakes that most new business owners make. So let’s ignore the step-by-step tutorial for a moment and focus on the real world mistakes you need to avoid.

1. Don’t Put it Off.

Yes, writing a business plan can be a monumental chore. It’s easy to procrastinate while you focus on the more exciting processes of your business. Many new business owners will wait until the day before their scheduled meeting with the bank — and then frantically try to write a plan overnight. You can imagine the results.

Don’t wait until you have more time. There will never be more time. You need to clear your calendar for a week and make your business plan a top priority. Or if that isn’t feasible, schedule a certain period of time each day to work specifically on planning. No doubt you have heard the old saying: “If you fail to plan, you are planning to fail”.

2. Don’t Confuse Profit With Cash Flow.

Unless you have an accounting background, you are very likely to define the success of your business in terms of profits. A simple definition of Profit would be Sales minus Expenses equals Profit. But in the business world, profits do not equate to cash. Your profit formula does not take into account the amount of cash you have tied up in production costs for products that have not yet sold, or the customers who still owe you money for sales that have already been made. Your business can look quite “profitable” while your bank account is over-drawn.

Make sure your business plan includes a table that addresses cash flow. Ideally, you should detail the monthly cash flow for the first two years of the business and annually thereafter.

3. Don’t Fall in Love With Your Idea.

Too many business plans blabber on for pages about the “newness” and “uniqueness” of the idea. But the truth is, investors want to invest in people, not ideas. It is only the people who can execute the systems necessary to bring the idea to life.

Instead of waxing poetically about your business idea, focus your energy, and your reader’s eyes, on the ways you plan to implement this great business idea.

4. Don’t Succumb to Fear and Dread.

If you have never written a business plan, the process may loom like Mount Everest. But, like most new challenges, writing a business plan isn’t as hard as you have imagined it to be. You aren’t writing a doctoral thesis or the next great novel. If you have invested in a business plan guide, use it. You can easily find helpful resources such as books, software programs and templates. Remember, you eat an elephant one bite at a time, so start chewing.

5. Don’t Over Sell.

Skip the vague and meaningless business phrases such as “best ever”, “highest quality” and “unsurpassed customer service”. You will lose your reader’s interest and respect if you engage in hyperbole that isn’t supported by measurable facts. Remember that the objective of a plan is its results, which require tracking and follow up. Focus your goals on specific dates, management responsibilities, budgets, and measurable milestones. Think fewer words and more numbers.

6. Don’t Engage in One-Size-Fits-All

Business plans can have many different purposes and they should be written to reflect the specific purpose at hand. You may be using your plan to start a business, or just run a business better. Your purpose may be simply to sell an idea for a new business to one particular business partner. Your plan may be intended to secure a small business loan, or it may be needed to secure millions of dollars of venture capital. Each of these purposes would require different information, presented in different ways to meet the needs of different readers. Keep a picture of your intended reader firmly in your mind and your business plan will stay focused as well.

7. Take Off the Rose Colored Glasses

Optimism is a wonderful resource. Without it, a business owner would find it difficult to summon the energy necessary to launch a new venture. However, this is not the time to engage in unbridled projections. If your company’s growth chart is based on an “industry average” of 15% annual growth, you should certainly be prepared to prove that assumption. When in doubt, be less optimistic.

By using a good business plan guide, and avoiding these common mistakes, you can prepare a plan that almost guarantees your business success. Good luck!

By: Barb Dearing

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One of the great things about the Web is the proliferation of free information and tools available. There is even a movement out there, called Open Source, which Wikipedia defines as describing “practices in production and development that promote access to the end product’s sources.”

From market research to Web design, some online tools can help improve your site and save you money at the same time.

One of the great things about the Web is the proliferation of free information and tools available. There is even a movement out there, called Open Source, which Wikipedia defines as describing “practices in production and development that promote access to the end product’s sources.”Here’s how you can take advantage of the generosity out there that’s ripe for the picking:Get set-up:Check out the website for SCORE, a non-profit which describes itself as “Counselors to America’s Small Business” and “America’s premier source of free and confidential small business advice for entrepreneurs.” The site offers loads of free tools and advice such as how to write up a business plan, build a website, and position your business. It should be one of the first stops that any small business owner should make if he hasn’t already, and even then it should be a routine click because there is often new information posted.Look around:There is help for small businesses to be found all over the Internet, says Victor Liu, co-founder of Web Advanced, a Web design firm in Irvine, Calif.

One site that aggregates them for you is The Free Site, essentially an online holding pen of practically every free deal out there (hence the name).Some tools to help you ramp up your online presence include Marketing Today, which offers information about online marketing, and Any Browser, which lets you know how others see your site when it pops up on their browser. The latter also provides tools to fix things in case it turns out that the site others are seeing is indeed not what you intended. For better functioning websites, Liu highly recommends Google Analytics, which can help you find out how much of your traffic is organic versus paid.Get the message out:Blogs and podcasts can be valuable tools for companies to promote their sites. Paul Epstein, CEO of High Voltage Interactive, an online marketing firm, has suggestions of where to get started on these.

For free information about blogs check out Technorati and also see Blogwise about setting up your own. For information on how to set up podcasts, check out PodBlaze.If it’s free, can it be good:Gary Chen, the small and medium business strategies analyst at the Yankee Group, a Boston research firm, also is cynical. A lot of free sites are not what they appear to be; they have hazy privacy policies. Check to see what the policies are — a quick search on the Internet to see if anything bad comes up can be a good start.

“But, if you’re not sure, stay with a more reputable site,” he says.But even if it is reputable, as with anything gotten for free, especially if the service isn’t be offered by a non-profit organization, be careful. Justin Kitch, CEO and co-founder of Homestead Technologies, Inc., a website creation software company that once had a different business model involving giving away free product, knows of what he speaks. “If something is for free there’s a reason,” he says. “If you offer a free service you can’t think about the free customers. The most important person is this case isn’t the customer it’s the sponsor.”

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Writing a business plan outline allows you to create a road map for your journey to success. It helps you to develop your business goals and strategies and provides you with a better understanding of the marketplace. It highlights any business strengths or weaknesses that you may have, and provides you with an opportunity to take a close look at your competitors. If you want, you can also include financial projections, historical data and growth expectations in your business plan. Any good business plan should show who the target audience is and just how the product or service that is being provided will meet or exceed their needs and expectations.

When organizing a business plan it is best if you break it down into sections. For example:

1. Business summary - A brief description of the product or service you want to provide.
2. Market analysis - A summary of the research on the product or service and how/what your competitors are doing.
3. Product positioning - An explanation of how you will make your product or service more desirable than your competitors’.
4. Market strategy - A more detailed list of the things you are going to do to market your product or service.
5. Customer analysis - A description of what your research has determined your customers want or need.
6. Financial analysis - A well defined list of the money you must invest in order to start your business and especially what you will need to keep it going during at least the first three months.
7. Overall business goals - What you hope to achieve in the first year. Include financial as well as unit sales goals.

 It is very important that once your have developed a business plan you use it as a working plan. Refer to it regularly to remind yourself of your business’s destination. Don’t just stick it in the back of a desk drawer.

Don’t get too uptight about this important task. Creating a useful business plan is not difficult. Just keep it simple but realistic. One or two pages should be all you need.

It is a simple fact of business life that a critical thing you must do when starting your online business is create a solid business plan and stick with it, and writing a business plan outline is a solid way to make this happen.

Author: Jerry Nielsen

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Your business plan should be a reflection of your business as a whole.A business plan paints a picture of your business as a whole. It illustrates how you want the business to grow, and how you are going to accomplish your ultimate goal of success. Your business plan is the foundation behind your business philosophy. It helps you organize your business concept, and gives you something to refer to when you are confronted with difficult decisions.

Writing a business plan should not be a restrictive process; it should be inspiring and encouraging. Most important, your business plan should be adapted to fit the needs of your business. To get you started, the following are a few categories you may want to consider including in your plan:

Description of the Business

This section of your business plan should describe your business objective. It should illustrate the products or services you offer, why you believe these products or services are marketable, and how you plan to distribute them to customers. This section should also include your reason for starting the business, your overall vision, and your mission statement. When you look back on your business plan in the future, this section should be a reminder of why you went into business in the first place, and why you feel your business can be successful.

Progress to Date

Often times new business owners have already made significant strides with their business without even realizing it, including developing a concept for the business, a vision for the business, brainstorming potential target markets and networking contacts that could turn into potential leads. Therefore, I think it is important, especially when you are just starting out with a new business, to highlight the accomplishments you have made thus far. Chances are you have made more progress, even at this early stage, than you realize. Having these accomplishments on paper can not only illustrate this, but also give you a starting point for future growth.

Goals and Growth

This section should include a detailed description of your vision for growth, how you see your business at present, and how you would like it to develop in the future. Developing a five-year plan for growth is a good place to start. What would you like to accomplish this year, next year, and in the three years following? If you have an idea of how you would like your business to grow in the next five years, this is the place for you to outline in detail exactly how you plan to reach that goal. Having this section in your business plan gives you a concrete set of goals to work toward, and also a way to measure your progress in the future.

The Marketing Plan

This section is critical because it defines your target market, how you plan to market you business, and what you plan to market. Understanding your target market will help you with your marketing plan because if you understand the type of people who may be interested in your product or service, you can better determine the best way to market your business. You may also determine at the end of this section that more research is needed before you can proceed. Even gaining this understanding, though frustrating, is priceless because it tells you what the next step should be in your marketing plan. This section is also a great place for you to brainstorm creative ways to market your business.

The Management Plan

How do you plan to manage your business? If you have employees, what style will you use to manage interpersonal dynamics? Do you need written procedures to help your business run smoother? How will you handle difficult decisions, and what key team members do you need to help you make these decisions? All of these questions and more should be answered in this section. The management plan encompasses more than just managing employees. It is an overall vision of the structure and environment of your business, and so it is important to be as thorough as possible when completing this section.

The Financial Plan

This section helps you understand and organize your business finances. It should answer questions such as: how am I going to use my business bank account, do I need a business credit card, how will I stay within budget, and what is my goal for generating revenue? Including a detailed budget in this section is critical because it will tell you how much income you need to generate in order to make a profit. This, in turn, will tell you how much business you need to generate throughout the year in order to break even with your expenses. It is also a good idea to secure an accountant to help you set up your business finances. They can help you determine what expenses can be written off during tax time, and offer advice as to how you should organize your general ledger. Having a solid financial plan in place can assist you when developing a plan for your business as a whole.

Your business plan does more than put your dream of owning a business on paper; it can help you bring it to life. A business plan organizes your business into relevant sections to give you a better idea of how you can make your business thrive. It illustrates, in detail, your goals, business philosophy, and plan for growth. It should reflect your business as a whole and be used as a guideline for future decisions. Customize your business plan to fit your needs, and let it help you make your business a success.

By Jennifer McLynch

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People often ask “What makes a good business plan? Or, “How do I make my plan attractive to lenders and investors?”.

The simple answer is that lenders and investors (I’ll call them “readers” from here on out) are looking for “good deals”. A “good deal” is one that offers the reader a reasonable rate of return for the risk assumed. The complete answer is that you should write a plan that a reader will want to read and then get it to reader(s) who are looking for your type of project and levels of risk and return. This article deals with the first part of the equation - how to write a business plan that readers will want to read.

Readers want plan

ns that clearly, accurately and completely allow them to make an initial determination about the project. Here are the steps needed to write that plan:

To paraphrase a real estate expression, the three most important things about a business plan are research, research and research. While other things are important (even critical), ultimately your plan will live or die on the quality and completeness of your information. For that matter, you’re about to risk your time and financial future on a project - how much information do you want to have? Step one:

1. Become expert in your project. Learn everything possible about: The customers to whom you will sell (your market). The competition. The actual costs of operating your business (get quotes). The actual results of similar projects. Your industry. The project’s physical location(s) and it’s impact (if any) on the project. The people who will be key to the project.

(You are welcome to use as a guide the questions that we use with FundablePlans to query a business plan. It is available via e-mail at http://www.fundableplans.com/how-to-do-a-business-plan.html )

If you’ve followed the above, you’ve now got a mound of research - sticky notes, web pages, reports, quotes, etc., etc. But, what does it all mean? Step two:

2. Analyze. (Hopefully) when you first got the idea for your project there was a sense of excitement and a feeling that “this is a sure winner”. Now is the time to see if your feelings were well founded. With a critical eye, do a “SWOT” (strengths, weaknesses, opportunities, threats) analysis on your project. Determine what you are able to do to capitalize on the S and O and minimize the W and T.

Steps one and two may have changed somewhat your “sure winner” feelings - which is good. (If not, you either have hit upon the next “sliced bread” or you need to redo the preceding steps). Presuming that your research and analysis shows a worthwhile use of your time and money (and that of your readers) move to step three:

3. Forecast. This is where the “rubber meets the road”. Using your research and analysis you will now tell your readers that “this is what will happen to the money”. You’ll do it with accounting forecasts called “pro forma” statements. Provide either three or five years of statements with (generally) the first year done monthly, the second and third done quarterly and (if included) the last two years done annually. In all events, include: Operating statements. Cash flow forecasts. Balance sheets.

Optionally include: Various ratios (loan to value, debt service coverage, etc.)

In addition to the above, you should usually include a “Source and Use of Funds” showing the sources of the initial capital and on what it will be spent.

By this point you’re either sure you have a winner (differing from “a sure winner” in that you recognize the obstacles but are prepared to work through them) or you are going back to the drawing board to rethink your project. If you “have a winner”, step four is:

4. Write the plan. Obviously, you need to be able to use good grammar and spelling. You should be clear, concise and complete. Fill your plan with compelling facts gleaned from your research. Do not avoid the W and T from your SWOT analysis, rather, describe in detail how you will deal with them. Avoid platitudes and your own opinions - everyone knows that you like the idea, readers need facts to determine if they like it. Try to keep your answers as short as possible while still giving complete information. With the exception of the Executive Summary, keep your answers somewhat dry and factual - “short, sweet and to the point”.

The Executive Summary, on the other hand, is where you “sell the sizzle”. It is here that you make the claim that yours is a dynamic project that deserves full consideration. You need to compel your reader to read your plan and tell them why you are excited about the project.

There are likely as many ways to compile a business plan as there are authors of them. A sample outline is at http://www.fundableplans.com/sample_business_plan.pdf . (It requires Adobe Reader to view and includes our logo which is not included in our plans.) You will want to attach to your plan copies of documents referenced in it and historical data on the business (if it is not a startup).

You’ve now done the lions share of the work leaving only step five:

5. Review and revise. The review should be first by the author(s) and then by trusted advisors - the more people that you can get to review your plan the more likely you are to find any problems before they are found by a reader.

Follow the preceding steps and you will have a business plan that will get read and, hopefully, funded. If you have questions about business plans, please feel free to contact me using the below e-mail link.

 By:Dave Miller

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Always remember that you may not use every answer in writing your business plan, but they could be very helpful when you update your plan as your new business grows. And once you’ve answered all the questions in your mind, you should be prepared to write the actual business plan document.

It is true that many businesses fail because they do not develop a proper business plan. It is important to note that the process of business planning is critical. You can refer to the home business idea for woman in Pennsylvania which is voted to be the absolute number one best business to start. A business plan can also be called a life plan.

Try and make a customized business plan. There are firms that develop business plans and prepare financial models. A business owner’s toolkit will always have sample business plans and information on how to create a plan. A virtual business plan walks you through the design of a business plan and teaches you the tools & techniques in developing the business plan for your rapidly growing company.

Your business plan can generate from places like Lucia, Sudan, Swaziland, Sweden, Switzerland, Tahiti, Taiwan, Tanzania, Thailand, Togo, Trinidad and Tobago, Tunisia, Turkey, Uganda, Ukraine, United Arab Emirates, United Kingdom, Uruguay, USA, Uzbekistan, Venezuela, Vietnam, West Bank & Gaza, Zambia, Zimbabwe.

Even Industry sectors and all other industries like Aerospace & defence, Automotive, Banking & capital markets, chemicals, communications, education & non-profit energy, utilities & mining, engineering & construction, entertainment & media, financial services, forest and paper & packaging all have business plans.

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