Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
Writing a Business Plan for Success in Business and for Funding > NetSparsh - Viral Content you Love & Share

Writing a Business Plan for Success in Business and for Funding

Writing a business plan to help you direct and manage your company is a key part of starting you new company that will help lead you and your company to success. Creating a "living and breathing" business plan makes that success even easier to reach. Many people feel that the sole purpose of a business plan is to get funding, and write a plan that is targeted to that audience. This plan should be considered a piece of you Fund quest documentation, but should not necessarily be edited to meet each funding source.

What is a living and breathing business plan? It is a short document that outlines your company, its product or products, and the development stages of that/those product(s), competition, market or industry, marketing strategies, sales strategies, including key clients you want to target, and your financial needs and goals. As your products advance in development, as the marketing strategies shift and change due to success or failures in marketing, as you acquire those clients you were targeting or you change your target clients, as you acquire funding or revenue streams, your plan gets updated to reflect the next steps.

Many people dread the "writing of the plan" process. It doesn't have to be that hard. You already have an idea that you have pretty firmly in your mind, or you wouldn't be creating a company.

Write a short paragraph that summarizes that idea. From there, write a paragraph or two on each product that you plan on building. Just describe the product, not how to create it. Next look at the market, write a couple (two or three) paragraphs on the market, including the market value, and the ups and downs in the market. Next you need to show yourself the value proposition in your company over the market and who the competition is. Now you are going to want to know how you are going to sell your product(s) and what that cost is going to be and how much you are going to sell it for, in two to three paragraphs. You should by now have an idea of how you are going to market your product, and write those ideas out in a couple of paragraphs, not too much detail yet. At this point you have a good idea of what your staffing needs are going to be in the near term, three to five years at the high end, next year or two at the near end, so write it out in a paragraph or two. To run a valid company, you need three people, a Business Manager, a Financial Manager, and a Product Manager. (These can be one person, two people, or three people, and I recommend that it be at least two people, Business/Product Manager in one, and a Financial Manager. You want the checks and balances of having two people monitoring the money.) Write up a paragraph on each of these key people, describing their qualities and abilities. If you are going to have Executive level people managing sales, marketing, etc, you would want to put in a paragraph on these people as well.

Guess what, you just wrote your Executive Summary of your total Business Plan!! In total, it probably came out to three or five pages of copy! You are almost done!! (Ok, you have some work ahead of you, but you have the outline in place for the rest of the work.) Again, these pages should only summarize where you are going with your company over the next three to five years. This is a document in and of itself that you will be using in your initial presentations, as a PART of your presentation, for going for outside funding.

Now, within this document, go to a new page and copy the WHOLE THING back into the document. From here you now start getting into more detail.

For each product you have, you need a page or two mapping, assuming a new company and new products, the development of the product, what the product is and how it works, etc. Go into more detail on the market, who the competition is, and how your company differs from these folks. In expanding on your sales review you will need to post your first three to five target clients you want to land. Give details such as who to contact, how they buy your type of product, etc. THIS SECTION NEEDS TO BE UPDATED, as does every section, AS YOUR CLIENTS ARE ACQUIRED OR DROPPED! Get into more detail on the kind of people you need to hire, especially in key positions, time lines, cost, etc.. Give full profiles of your Key Executives.

You now have 95% of your full business plan in place. The next thing to do is create your financial data sheets that outline your first two years expenses and income by month, the next two years by quarter, and the fifth year by year. Again, these are approximates. If your company has been around for any length of time, with expenses or revenue, you need to put in historical data, in front of "future" pages, as well to keep you up to date in your plan of how you are going historically as well as in the future.

You have now created a document that you can keep an eye on your company and direction from, and that you can present to funding sources as an outline of how you are going to spend their money once they hand the money over to you. But the key is to keep this document current. It isn't so big so keeping it up to date shouldn't be the hassle that many of the current tombs out there are, and it keeps you on track!! If you change tracks, change the plan!

If you write a business plan to guide and manage your company from, which changes as your company changes, you will be more apt to meet your goals.

Create and write a presentation, centered on your plan, as your Fund Search document. In that document, you can target your funding source, but your plan remains a valid, living and breathing business plan, that you can, and should, continue to use after you get funded.

Don is a Venture Capitalist with over 15 years of successfully funding early stage Ventures. Information on his fund can be found at http://www.tdbellenterprises.com/fund.html His company also consults start up companies on business plan development and start up strategies. http://www.tdbellenterprises.com

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Government Technology

With New Strategic Plan, Baltimore Begins Comprehensive IT Modernization
Government Technology
Having received “unbelievably supportive” public comment earlier this year, the city of Baltimore has moved into the execution phase on its first-ever strategic plan — 2018-2023 Inclusive Digital Transformation Strategic Plan — and is in the ...


Belleville News-Democrat

Highland School District looks to the community for help with strategic planning
Belleville News-Democrat
During last month's Highland School Board meeting, Superintendent Mike Sutton announced that on direction from the board, the district will be moving forward with a new strategic planning phase. “The strategic plan should assist in making decisions ...

and more »

WCRP's New Strategic Plan for Climate Research Highlights the Importance of HPC
HPCwire
As climate modeling increasingly leverages exascale computing and researchers warn of an impending computing gap in climate research, the World Climate Research Programme (WCRP) is developing its new Strategic Plan – and high-performance ...


Spend Matters

Strategic Technology Planning: A New Imperative for Contingent Workforce and Services Procurement (Part 2) [Plus+]
Spend Matters
In Part 1 of this series, we provided a context and rationale for the adoption of strategic technology planning for contingent workforce and services (CW/S) procurement. We also began the discussion of what strategic technology planning explicitly ...


Automotive Buy Sell Report (blog)

Prepare for the future with strategic planning
Automotive Buy Sell Report (blog)
The one thing with change is that it is constant. Knowing this, are you prepared for the future and what change is going to occur? A rhetorical question, but one that begs us to consider the importance of strategic planning, as it can prepare you for ...


LETTER TO THE EDITOR: Strategic planning needed in Nanaimo school district
Nanaimo News Bulletin
If we really want to look after the students, our board of education needs to consider the impacts of its decisions beyond the current term, and put more resources and emphasis into long-range planning and strategic thinking. Perhaps it is time to ...


Communique

UCCS kicks off 2030 strategic planning process
Communique
UCCS will utilize the experience and services of JERA Partnerships in facilitating and developing the 2030 strategic plan in collaboration with the many university stakeholders. Diane Zile, JERA CEO and founder, and her team engaged the Chancellor's ...


Starkville Daily News

SOCSD Board OKs strategic plan
Starkville Daily News
Starkville-Oktibbeha Consolidated School District Board of Trustees members Debra Prince, left, and Sumner Davis work during the school board meeting Tuesday night. The board approved the district's new five-year strategic plan. (Photo by Charlie ...


Forbes

How To Avoid Strategic Timing Mistakes Like Exxon's
Forbes
Strategic planning begins with the aspirational destination that is drawn from the vision and mission. Analyze the current reality by using the 5Cs approach and complete a SWOT. Create strategy options to guide actions, overcome barriers, and bridge gaps.


Forbes

The Impact Of Talent On Strategic Planning
Forbes
Is your organization planning its current and future talent needs with the same level of energy devoted to its strategic plan? Your human capital plan must fit hand-in-glove with your strategic plan. A disciplined approach to your talent planning is a ...

Google News

Defining Go for It Business Goals

Many business start-up kits or consultants will tell you one... Read More

Top Ten Traits of Strategic Thinkers

Want to become more strategic? Add these traits to your... Read More

Art of Succession Planning

Succession planning, like any business acumen, is both an art... Read More

Designing an Efficient Distribution System

Let us look at a few of the big distribution... Read More

Succession Planning: Problems Getting Started

A survey released by the American Institute of Certified Public... Read More

If You Dont Focus, Innovate and Evolve, You Die

After 128 years of business, a household word, Montgomery Wards,... Read More

How to Write a Business Plan Market Analysis

Writing a business plan is an essential part of the... Read More

Scheduling of Additional Auto Detailing or Mobile Car Wash Units

If you own a mobile car wash business or auto... Read More

Strategy Without Tactics is Futile

From time to time there seems to be a flurry... Read More

Mining Market Data

With a heightened awareness of opportunity, ideas can often be... Read More

Advice To Manufacturers Creating A Business Plan

If you are a manufacturer wanting to use your business... Read More

Cost-cutting Essential to Maintaining Profits

Why cut costs now? Efforts are multiplying to cut costs... Read More

Memo: Sustaining Growth in Your Business

What gets measured gets done.How do you keep your business... Read More

Abstract thought on Business Strategy and Nature

Here is an abstract thought on studying nature and the... Read More

25 Ways To Find Companies To Buy

When you start your program to purchase your "ideal" company,... Read More

Attributes of Companies You Dont Want to Buy!

There are no "rules of thumb" in the pursuit of... Read More

Have You Identified the Enemy?

One of the most powerful driving forces in human nature... Read More

How to Start A Business Plan

A business plan precisely defines your business, identifies your goals,... Read More

Microsoft Great Plains in Agriculture ? implementation highlights

In this small article we'll concentrate on farmers associations and... Read More

City of Cortez and South Western Colorado Market Survey

We have been spending many hours surveying the market for... Read More

Business Disaster? Wont Happen to Me

As fast as you can say business disaster, your business... Read More

Nine Succession Planning Mistakes Small Businesses Should Avoid

1. Attempt Succession Planning Without Other Strategic Plans. Succession plans... Read More

Are You Aware of Planning in Business?

Human beings are rational agents. Rationality endorses one to take... Read More

Writing a Business Plan for Success in Business and for Funding

Writing a business plan to help you direct and manage... Read More

Menu Driven Business Planning

A menu is the foundation of any restaurant; Guests will... Read More