Simple Steps To Plan Your Business For Success
 by: Tina Valiedi

Planning your business is the critical starting point. You need to map out your business. Where do you plan on going with your business? What steps are you going to take to get there? How are you going to market your business. All of these questions should be answered in your business plan.

Some people are excellent at planning. Others are not. The problem is, we were never taught how to plan in school. So how do you begin planning? It’s an acquired skill, it won’t appear over night.

The first step to becoming a successful planner in learning your personality type. Once you learn who you are, you can learn to plan according to you personality type.”Personality Plus: How to Understand your Personaltiy” by Florence Littauer, is an excellent book on learning about your personality type. It is easy to read and comes with a personality profile test.

Don’t worry if you feel like you’re not making any progress. Learning a new skill, especially planning, takes time to learn. Be patience and persistent. Start your in planning in baby steps.

Let’s begin by learning to plan out sales calls.

First, how many sales appointments do you want or need for the month? Let’s say, you need 10 appointments each month. If the an appointment is about 2 hours long, you will need 20 hours total for the entire month. Take out your monthly calendar and mark of 20 hours.

Now lets take a step back. What did you do to get those appointments? You made phone calls. You need about 20 phone calls before you got those 10 appointments. How long were you on the phone, about 15 minutes. Now block off that time on your calendar.

Before you start making phone calls. Put a list of your contacts together. Have there name, address, phone number, even secretaries names if needed. To help you make those calls, write a sales script. Use the script as a reminder.

This is the beginning steps of planning your business. You can use this formula for almost every project.

About The Author

Tina Valiedi is a contributing editor for MP Strategies Firm providing super targeted web traffic to internet businesses. Find more advertising article at http://www.mpstrategiesfirm.com.

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There are so many things involved with building wealth that it would take much more than one article to explain it all. So, we’ve put together a simple five-step guide to help you get a great start in building wealth for a lifetime.

Step 1: Set Specific Goals

Goal setting is a task that can be easily put off - especially when you are extremely busy in day-to-day activities. However, goal setting is the first and one of the most important steps you’ll take to achieve wealth. Set both short-term and long-term goals. Short-term goals may be daily, weekly and monthly goals. These should reveal where you would like to be financially by a certain time in the near future.

Long-term goals include the amount of wealth you would like to accumulate within a year, two years, or maybe even five or ten years. Both types of goals are necessary to build wealth. Without goals, you are wondering blindly with no care or thought of what’s ahead. This pattern of life is sure to leave you empty-handed!

Step 2: Create a Business Plan

Every successful business from the past and today started with a plan. Your business plan should illustrate where you are now, where you plan to be in the future, and how you’re going to get there. Write these few notes down on paper. Then, fill in the blanks to create a rough business plan. It’s easier than you think.

* Your current income

* Business profits and expenses (if you already own a business)

* Business budget (or personal budget if working for someone else)

* Capital needed upfront to promote and operate business

* Plans to acquire the capital needed (source of capital)

* Spending plan (promotions, supplies, inventory, online expenses, etc.)

* Expectations (What results do you expect from your initial efforts?)

Creating a business plan is a necessary step to build wealth through your own business. Even if you don’t own a business, you should write down a similar plan to reach your personal wealth goals.

Step 3: Avoid Harmful Debt

Debt is the one of the key reasons many people never accumulate wealth. But remember, there are two types of debt: harmful debt and necessary debt. Harmful debt is the debt you create for things you do not need such as excessive shopping, luxury items, expensive cars that you can’t afford, etc. Necessary debt is a debt most people must have to live, such as a mortgage, car loan (affordable), medical, college, etc. These debts are a part of life for most families and will be for many, many years. However, even these types of debts should be kept well within your income limitations. If you can only afford a $250/month car loan, then shop around until you find one at this price. Don’t give in to the temptations and pressures to buy the fancier, more expensive car with a $450/month payment. It’s not worth the risk!

You may ask, “I thought these steps were for building wealth?”

As it happens, debt is the opposite of wealth. The more debt you have, the less wealth you will accumulate. You can’t save money or invest money that belongs to someone else. If you earn $3,000 in income this month, but owe $2,000 in loans (before everyday living expenses), you can’t possibly have extra money to save. You must either earn more or sell some items to pay off your debt. You should avoid this “debt trap” if you intend on building wealth for the future.

Another type of debt is one for your business. You may take out a small business loan to get things started or to promote your business. If you are uncertain about whether the business will bring profits, try to avoid business debt until you have tested it a while.

Step 4: Develop a Personal Plan

Above, you developed a business plan. Now it’s time to create a personal plan. What tasks will you do daily to build wealth? Put yourself on a schedule and a strict budget. Work toward your goals daily by making a list of things to do and marking off each item on the list as you complete the tasks. In your budgeting, include a set amount of money you will put away in savings (savings account, IRA, stocks, bonds, etc.) If you plan to invest, be sure to diversify your investments. Choose only one or two high-risk investments and several “safer” investments such as mutual funds or bonds.

Step 5: Stay focused on the Goal, not the Circumstances

No matter what circumstances you find yourself in, keep your eyes on the wealth-building goal ahead. Even if sales are down in your business, don’t stop dead in your tracks. Remember, businesses have ups and downs. If you remain steadfast toward your goal during the slow times, the busy times are bound to be much better than ever. Your income will grow and you will have the extra money needed to reach your wealth-building goals.

In a nutshell, building wealth does not happen over night with one get-rich-quick program. It happens with consistent labor toward the goals and tasks you have created. You can build wealth for your future if you do not waver from these basic truths that have worked for millions of others!

About The Author

Mr. William B. Doyle, retired US Navy, has more articles, ebooks, software, resources. Click Here +126 free instantly downloadable pdf ebooks in 17 niches - No optin.

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First, go to www.microsoft.com and download one of their free business plan templates. After opening it, delete any section you will not be using.

By keeping only the parts you will need, you cut down on the amount of work deeded.

How through you are at writing your business plan depends on who’s going to see it? Will you be looking for a venture capital firm to invest in your business?

If so, then your plan will have to go deeper into details. If not then you can get by with a much simplified approach.

Use a professional writer to develop your business plan if you intend to seek financial assistance.

What goes into the plan? All of the information we’ve been collecting since we started our research.

Here’re the sections I suggest you have in your business plan:

1. Title Page

Just provide your basic contact details and the name of your business.

2. Table of Contents

List just the first page of every section.

3. Executive Summary

This section is where you give a high level overview of your business concept and strategy.

4. Vision Statement

Your vision statement should give details on the following:
a. Competition
b. Description of Products and Services
c. Pricing

5. Operational Plan

Your operational plan describes how you plan to run your business. Include information on all of the following:
a. Management
b. Employees
c. Policies and Procedures

6. Marketing Plan

In the marketing plan section you will outline your overall market strategy and how it will help your business.

Outline, at least, the following:
a. Financial expenditures for marketing
b. Marketing Vehicles to be used

7. Startup and Capitalization Expenses

Detail all startup and operating cost for the first year of business.

8. Financial Plan

Describes the financial health of your new company and how you plan to maintain and grow your revenues.

You will have to complete your marketing plan to finish the business plan, because the marketing plan is a critical step.

Implementing an effective marketing plan is critical to the success of your business. Make sure you do not skip this step!

A business plan is nothing more than a method to ensure you cover as many areas as possible. Not every plan needs to be fifty pages long.

If a simple plan serves your needs then use a simple plan. Starting a business isn’t rocket science; instead it’s mostly common sense.

***
Secure Publications, is a San Antonio Texas publishing company specializing in “How To” books and special reports designed to enhance our quality of life.

Visit our site to get your copy of How to Start Your Own High Profit Computer Services Business! An Essential Guide to Earning a Living as a Computer Services Entrepreneur

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Author: Rick Parrott

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A business plan doesn’t have to be a novel-length document. It could simply be a few pages that describe you and your JV partner, why you’re in business, and how you expect to achieve success. However, a more complicated JV that may require outside financing may require a more detailed business plan with professional biographies, marketing strategies, and financial projections.

Whatever the length and detail of your joint venture, here are the basic elements that all business plans need to have:

Executive Summary

Though this section is at the front, it should be written last after all the details have been thoroughly completed. The Executive Summary should be written meticulously and concisely and serves as an intro to the business plan. It should be about a few paragraphs, or no more than a few pages long, and contain just the fundamental nuggets of the rest of the document. Think of the summary as a “sneak preview” that will tantalize the reader into the rest of the document.

Company Description

This section should discuss your vision statement, the people, and business profile. It should contain details about you and your JV partner and include a bio your experiences and expertise. You will also want to talk about what why the JV is in business and what you plan to sell.

More detail in this section could include:

- Organization & Management

- Product or Service Line

- Management Details

Market Strategies

You need to identify who your market is and how you will market to them. Discuss why your product or service fills an identified and unsaturated niche. Show details of market research performed. And be specific about your marketing strategies and goals, as well as how you and your JV partner will work together to tap into potential customers.

Competitive Analysis

Your JV is not the only one doing business in your niche. Include this section so you clearly identify who your competition is and why your product or service offering stands apart from the rest.

Financial Projections

This section is essential if your JV is looking for outside financing, such as loans or investors. Even if you do not show the plan to anyone else, it’s a good idea for you and your JV partner to formulate financial projections showing your expected cash outflows and anticipated revenues. A financial expert who can develop accurate projections based on dependable research should complete a detailed financial projection.

With a dependable business plan in hand, you and your JV partner have a reliable blueprint for achieving success. If you don’t already have one, get together with your JV partner and discuss forming a plan right away. It will help lead you down the road to a thriving JV!

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability. To discover more Joint Venture Marketing Strategies join his free Joint Venture Marketing Wealth Report.

Christian Fea is CEO of Synertegic, Inc. A Joint Venture Marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.

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Author: Christian Fea

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Every business needs one. It’s not just for start-ups or new product launches or business expansion initiatives.

Why? And what should be in one?

Documenting a Business Plan is an extremely useful process to focus management and owners on their business concept, strategies, and operating plans. It forces consensus and decision making that might otherwise be neglected. It requires issues to be resolved and the decisions to be reflected in financial projections.

A well-documented business plan will help you communicate the most important elements of your strategy and plans to the people who need to know them. Including you.

Already in business for years and never needed a business plan? It’s still a good idea for all the same reasons. And now is a good time.

Ready to exit your business? Even better. A solid business plan will be the most important document in supporting the valuation of your business.

The greatest value of a business plan, however, is likely to be in the process – involving your management team in a thorough examination of your business – its purpose, its strategies and its plans to ensure success. When completed, all the key players will be more knowledgeable of the issues, the opportunities, the risks, and the alternative paths considered, before committing to the final plan.

Following is a suggested guideline of the layout and content for developing an effective Business Plan. It is a consolidation of best practices, based on our consulting and management experience with many different clients under a variety of circumstances.

COVER PAGE:

Includes title, date, purpose, prepared by whom, confidentiality statement, issued to whom, and a document control number.

PURPOSE:

Objectives of the Business Plan – attract financing, key executives, customers, or strategic partners? Document strategy and action plan for all participants? Set financial objectives and timetable?

CONTENTS:

1. Executive Summary (Max. 2 pages, written last as a stand-alone document, may be offered for review prior to full disclosure of the business plan, convinces reader to go further, or not.)

• Business Concept, Plan and Objectives

• Current status relative to the market opportunity

• Key success factors, risks, expected results

• Financial situation and needs

• Reference to the complete Business Plan (sections below) for more detail

2. Concept and Business Opportunity (Describe the need being addressed, how this approach is different, and why it is likely to succeed.)

• Market need and current solutions available

• Business concept and product/service differentiation

• Initial market feedback

3. Mission statement (Generate missionaries!, why others should join the cause – have fun, make money, make a difference?)

• Clear, attractive objectives – who and what do you want to be?

• Statement of values and priorities

• Milestones and timetable

4. Market Analysis (Provide relevant, pertinent information to demonstrate your knowledge and competence in this industry.)

• The overall market, recent changes

• Market segments

• Target market and customers

• Customer characteristics

• Customer needs

• Buying and selling process

5. Competition (Demonstrate an awareness of competitors and your ability to compete successfully.)

• Industry overview, recent changes

• Nature of competition, inside and outside the industry

• Primary competitors

• Competitive products/services, relative pricing, advantages, disadvantages

• Opportunities, protection by patents, copyrights, barriers to entry

• Threats and risks, ability of competitors to respond, imitate or copy.

6. Strategic Plan (Describe your starting point, direction, and plan to get there.)

• Company history & background – experience, resources

• Key competitive strengths & current weaknesses

• Business plan and strategy to leverage strengths, reduce weaknesses

• Action plan for implementing strategy

7. Management team (Usually the most important factor in determining your success and in attracting staff and financing. Emphasize current strengths and plan to fill in the gaps.)

• Key personnel, experience & credentials

• Staffing plan

• Organizational structure

8. Product & Service Offering (Consider the reader’s familiarity with the industry, avoid technical jargon, relate to the market and competition.)

• Product/service description

• Positioning of products/services

• Competitive evaluation of products/services

• Future products/services

9. Marketing and sales plan (Another key to success, too often neglected by owner/managers with strong product, technical, or operations backgrounds. Prove you have a plan that will be affordable and effective.)

• Marketing strategy, positioning, presentation

• Sales tactics

• Advertising, Promotions/incentives

• Publicity, public relations, press releases

• Trade shows, industry events

• Web marketing

10. Operations plan (Describe the important issues and factors that will affect customer service perceptions and the costs related to capital investment and operations.)

• Processes for product/service delivery

• Customer service and support

• Facilities and staff required

11. Risk analysis (What can go wrong, what will you do about it?)

• Market factors – economic cycle, interest rates, currency, government regulations, trade restrictions.

• Business risks – key customer & supplier dependence, labour availability, staff turnover, new competitors, new technology, changing demand.

12. Financial plan (Convert all the preceding words into numbers, next year by month, then three-to-five years annually.)

• Summary paragraph, Assumptions and Comments, followed by analysis

• Starting Balance Sheet

• Profit and Loss Projection

• Cash Flow Projection

• Balance Sheet Projection

• Ratio’s and Analysis, value of equity

• Financial needs

• Sources of funds

APPENDICES:

Add some personalisation and realism with biographies and photos of key executives, product photos, marketing literature, sample packaging, facility plans, press releases, customer testimonials, relevant research documents, etc.

Following these guidelines will ensure that you have considered all the issues and can defend your strategies and action plans against all inquisitors.

Del Chatterson is the President of DirectTech Solutions, a management consulting firm assisting companies to develop their corporate strategies and growth plans. He may be contacted by e-mail: delchat@directtech.ca

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Author: Delvin R. Chatterson

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Most businesses fail because they run out of cash. Even highly profitable businesses can run into cashflow problems if they try to expand too fast for their level funding.

Your business plan strategy has to match your level of ambition to the level of funding you can reasonably expect to invest. If you can’t acquire sufficient investment, you have to reduce your ambition.

So, one of the most important outcomes of the business planning process is to decide on your ambition and work out the level of investment required and how you intend to fund it.

If you’re requesting a loan, the lender will expect your business plan to clearly show how you intend to spend the loan capital and that the business can generate sufficient cash to service the debt in terms of both interest and capital repayments.

If you’re aiming to attract equity finance, the investor will expect your business plan to indicate the expected return-on-investment as well as the likely exit strategy and timescale. This will then be compared to other opportunities they may have under consideration.

For it be fit for purpose, you have to write a business plan according to who will read it. Lenders and investors are busy people, so you need to provide the answers they require within the first 1 or 2 pages of the plan. They can then decide whether they’re interested enough to read further. So, the business plan outline should begin as follows:

1. Executive Summary

Now, whatever your level of ambition, the market has to be large enough to satisfy it, especially when you take into account the extent of the competition you’ll encounter. So, the business plan has to show an analysis of the market opportunity and how you intend to exploit it with your products and services. It also needs to show how you plan to market your brand and attract customers. This leads us to define the next 3 sections of your business plan:

2. Market Analysis

3. Products and Services

4. Marketing Plan

OK, you’ve explained your market, what you intend to supply to that market and how you intend to market your products or services.

Now you need to explain the infrastructure you’ll need in order to deliver the products or services and how you arrived at your present position. If a potential lender or investor doesn’t think your business is equipped with the right capability and experience, they won’t be inclined to invest. This leads us to define the next 2 sections of your business plan:

5. Company Background

6. Company Structure

The section on Company Structure should include any resources, equipment or systems you have or will require in order to deliver your products or service. It is quite likely that you’ll be using some of the funding to create the Company Infrastructure.

There is one more essential section that any lender or investor will expect and that relates to risk. You need to show that you’ve considered areas of risk and how you might mitigate for them. I tend to refer to this section as:

7. Business Analysis

In this section you should include your S.W.O.T. Analysis (An assessment of Internal Strengths and Weaknesses and External Opportunities and Threats) and a Sensitivity Analysis (An assessment of how far certain parameters can move for the business to remain viable).

If they’re interested in evaluating the opportunity, they’ll need to take a closer look at the numbers.

So, they’ll expect to be able to view your projections for Profit and Loss, Cashflow, Balance Sheet and a Sources and Use of Funds Statement. This we’ll refer to as:

8. Business Financials

Finally, if you’ve referenced any material or wish to include any supporting information it’s better to avoid cluttering the main body of your document and add it all in a section at the end:

9. References and Appendices

And that’s it. For a lot more detail about why this 9-section structure works and exactly what to include in each section, you can read my book:

The Heart of Business Success - How to overcome the Catch-22s of growing your business

To obtain your copy, please visit: http://www.theheartofbusinesssuccess.com

Good luck!

Robert Copping is the author of the acclaimed new business book The Heart of Business Success - How to overcome the Catch-22s of growing your business.
This book introduces the ‘heart of business success’ and shows how you can apply it to make business decisions that increase your chance of success.
Part 3: Planning for Success, explains how to structure a successful business plan and how to pitch your opportunity to a potential investor.

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Author: Robert Copping

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There are many companies offering this brand of service and their line of expertise is usually from management consulting, to business writing and consultation as well. If you would like to contact a consultant, you may follow any of the suggestions below. By implementing any of the bullets below, you can discover for yourself or your organization a business plan company that can deliver a document just as you expect it to be - to get you funded.

1. Verify bplan company credentials online through business directories

2. Locate blogs and forums discussing bplan topics

3. Peruse bplan company websites - how dated is their website, how relevant is their content

4. Ask for references and samples from bplan companies

5. Be prepared - have your bplan draft, concept or eureka moment handy when you start the bplan process

6. Lastly, be prepared with funding statistics that bplan companies provide - bplan are only as strong as their pitchmen (woman) - increase your probability by getting out there and selling your professional bplan

Be cognizant of, business plans can take in excess of 2 weeks to develop, and you have to ensure that your expected final deliverable are met in a timely fashion. Discuss all pertinent information with the consultants and make sure deadlines are followed. As these services have a contract agreement for only an explicit and limited time, it is important that they deliver results on time. There are also independent consultants that can offer you the same service, but typically these individuals follow a routine template and might be juggling your business plan, full-time job and graduate school. Lastly in these economic times it may not pay to be frugal, certainly when it comes to getting your venture funded - put it this way. A business plan from a professional company can cost anywhere from $2,000USD to $5,000USD - shelling out this cash is a drop in the bucket if you are to be financed for $500,000USD - food for thought.

Look for more articles from me regarding business plans, market research or funding your venture, current company or start-up. Also be sure to first talk to your small business development center in your community, if you are new to the business plan process - This is funded101 signing out.

http://www.zpryme.com
http://www.funded101.com

Zpryme Research & Consulting and funded101 are research-based business planning strategy firms with affiliates and industry contacts in major cities within North & South America, Asia, and Europe. Our clients range from Internet start-ups seeking venture capital to Fortune 500 companies’ expanding into foreign markets. The success of our firm is measured by our client’s ability to confidently and successfully enter emerging global markets. If you are an entrepreneur then feel free to contact us with any business plan or market research questions - we are here to help.

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Author: Mark Ishac

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If you are planning to set up such a service in Los Angeles, it could be a wise business decision, given the popularity of such services in the city.

As a provider of an Internet dating service, you need to facilitate individuals, groups, and couples to meet online and encourage them to develop either a romantic or a sexual relationship. You could also consider providing un-moderated matchmaking services by way of personal computers, cell phones, and internet. These services will enable people to exchange personal information and allow them to search for eligible partners based on the criteria of age, gender, profession, and location.

You may also provide the users the opportunity of uploading their photos to your website so that interested people can consider them for “hookups.” You may think of providing additional services such as online chatting, messaging through message boards, and web casting. If you are providing only basic services, allow the users to register for free. However, if you are offering additional value-added services, you may charge them an extra fee on a monthly basis.

Such a business could yield great results, if you take it up seriously and invest considerable time in it. Research reports show that U.S. residents spent nearly $469.5 million in 2004 on online dating facilities. This makes the segment the largest paid web content, according to market experts. Moreover, towards November-end in 2004, nearly 844 lifestyle and dating sites were operational, which marks a 38% increase since the beginning of the year.

Market analysts point out that online dating services are likely to grow significantly in the U.S., considering the growing population of divorcees. Moreover, the online dating service is an already established industry and has been instrumental in marriages of thousands of americans. The business just needs your focus and commitment for guaranteeing success. Make sure that you have a business plan in place to start with.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

Business Owners all across the country are joining “The Community of Small Business Owners” to receive and provide strategies, insight, tips, support and more on starting, managing, growing, and selling their businesses. As a member, you will have access to true Millionaire Business Owners who will provide strategies and tips from their real-life experiences.

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Author: Alexander Gordon

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Although there is a large amount of overlapping between the needs of most senior adults - especially in physically or mentally disabled clients - the authors’ research reveals that in areas such as travel, baby boomers (55 to 64), retirees (65 to 75) and the very mature (75-plus) have different needs. For example, “grandtravel” (healthy, active grandparents usually in the baby boomer range taking their grandchildren on trips) has become one of the fastest growing travel trends. A variety of seniors’ needs in different categories (and businesses designed to help meet these needs) are described throughout the book.

“Start Your Own Senior Services Business” also offers useful information regarding financial matters, developing a business plan, marketing ideas, plus a variety of printed forms including checklists, prescription medication permission form, letter of authorization for utility company, and injury report form, among many others. Each service (and piece of equipment) listed in the book has a suggested cost to go along with it, so there won’t be any unpleasant surprises for the new business owner. The text is punctuated by helpful sidebars including “dollar stretchers,” “bright idea,” “stat fact,” “beware,” and “smart tip.” An extensive appendix lists a variety of helpful senior care resources.

This book is ideal for anyone interested in starting a senior services business who isn’t quite sure what he or she wants to offer or how to take the first step. Throughout each of the 17 chapters, the authors take great care to mention the importance of treating senior clients with compassion and respect. One of many thoughtful suggestions is included in the chapter on Home Care and Home Health-Care Services: “If a client has difficulty with vision or reading, instead of writing notes and reminders, the home care aide can record instruction on a tape recorder for the client to listen to after the aide has left for the day.” These thoughtful suggestions broaden the book’s scope by addressing clients’ emotional needs (for which you may not get paid) as well as their physical needs (for which you will get paid). As Lynn and Davis seem to know, these needs go hand in hand.

Besides the obvious market of would-be entrepreneurs, “Start Your Own Senior Services Business’ offers valuable insight into the daily struggles of seniors striving to maintain their independence. Everyone with aging parents could benefit from reading this book. For more information on “Start Your Own Senior Services Business,” visit the authors’ websites at www.jacquelynlynn.com and www.cdavisfreelance.com

By Jacquelyn Lynn and Charlene Davis

ISBN: 1-932531-94-7

Publisher: Entrepreneur Press (2006)

210 pages

$14.95

Copyright 2006 Leslie Halpern

Central Florida entertainment writer Leslie Halpern is the author of more than 1,300 articles in trade and consumer magazines. She wrote the books “Reel Romance. The Lovers’ Guide to the 100 Best Date Movies” (Taylor Trade Publishing), which reviews date movies and suggests romantic ideas inspired by these films, and “Dreams on Film: The Cinematic Struggle Between Art and Science” (McFarland & Company), an analysis of representations of sleeping and dreaming in more than 125 movies. Both books are available from her website: http://home.roadrunner.com/~lesliehalpern

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Author: Leslie Halpern

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Then as life rolls on, there is never time to update it to reflect your evolving situation. When your accountant nags you, you just feel bad. And your bank manager makes a new business plan a condition for any money discussions so you rush into guessing again.

As I coach my clients, I encourage them to create a simple, effective Business Plan that will earn them money as their business grows and their market changes.

Be succinct and clear

I encourage the owner to write their Business Plan in less than two sides of A4. In my experience with small businesses, briefer is better. The four sections should each have a couple of paragraphs to say:

• Why are we in business? – your purpose and intentions in running the business
• What do we sell? – your products, services and the combinations that customers want to buy
• Who do we sell to? – your clients’ demographics, locations, spending habits and interests
• How do we plan to run the business? – staff, structure, targets, management and a simple cashflow table (in an appendix) predicting the income and expenses for the next 12 months

Stay flexible and customer-centred

You need to consider the Scale, Scope and Structure of your business and align them with your long term Mission. Then you can include this detail in the right paragraphs of your Business Plan.

Your mission is simply “Why are you running the business?” State who your customers are, the needs you satisfy with products and services and your unique approach to your market. A strap line of 15 words is ideal.

Your scale describes your team – whether you employ them, associate with them or do sub-contracting. You might also show how the effort will flex as your sales levels change.

Your scope outlines the customers you want to work for and the key products and services you expect to sell to them. Where your market has a number of niches, each could be described individually.

Your structure defines how you sell to clients, the experience and skills needed for purchasing, production and delivery and how you manage your cash flow.

Being small, you are unlikely to have departments but you will have individuals following processes within a team. On the one hand, organising your firm will always be an exercise in frustration because the supply of your products and services rarely equals the customers’ demands. On the other hand, small companies thrive by picking off market opportunities to which their bigger competitors cannot respond quickly:

• Time and market events overtake even the best organisation - so design flexibility into your business ready for when you need it.
• Unintended consequences grow with time – so keep watching for the unexpected. Set up triggers to flag possible issues, agree who monitors each flag and make the most interested person responsible for fixes.
• Make-buy decisions always trade-off costs against co-ordination – so monitor how the actions of your suppliers and associates effect your ‘internal’ costs of quality control, communication and re-work. Be prepared with a ‘plan B’ and re-take these make-buy decisions at least once a year to keep people on their toes.
• Understand the balance points in your business. But only re-organise once in three years – even small changes take several months to work through a business.

Look for results

Before you finalise the draft of your business plan, you need to answer four questions honestly:

• Do you tell a clear story in simple business terms?
• Do you show where extra investment (of money or effort) will lead to increased returns?
• Do you show where unique value is added for your customers?
• Do you describe how you expect to maintain your competitive edge even as your market changes?

Finally It is my experience that an effective plan is marked with coffee stains and pencilled comments that show the business owner has reviewed it month and re-written it yearly. As you keep your business plan focused on the needs of your clients, you will thrive.

Adrian Pepper coaches people through business and personal difficulties, helping companies figure out what to do, how to move forward and what to get organised. You can contact him through Help4You Ltd, through his website at http://www.help4you.ltd.uk or by phone +44-7773-380133. At feeds.feedburner.com/help4you, you can listen to his podcast for small businesses.

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Author: Adrian Pepper

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