There are not many things more important for the success of any small business than a well written business plan.
We have clients that have accomplished things because of a business plan such as negotiating a lease that gave the client time to build the business before the full lease term payments kicked in. Another client actually secured a government contract before they have the employees to fulfill it.
Your business plan will be your roadmap to follow as you build your business.
Simplified Business Plan Outline
This simplified business plan outline is for a small business, and needs to be developed whether or not there is a need for outside funding such as bank loans or venture capital. Remember, the primary reason for a business plan is to provide you with a guide book of how YOU intend to operate YOUR business and measure it’s performance.Continue reading Brief 03.00
COMPREHENSIVE BUSINESS PLAN
It is important to remember that the proposed contents shown in this Brief should be treated as a guide, and not as a rigid, all-encompassing format – each business is unique and its plan should reflect as much; additions, deletions, expansion, and adjustments should be made to fit each unique situation. A plan for use in applying for a bank loan may require more in-depth data than one prepared for the owner’s guidance. The plan should be updated frequently to reflect revised scenarios as market conditions change, as company strategies evolve, and as projections are surpassed or not reached. Continue reading Brief #03.02
You may also want to review the COMPREHENSIVE BUSINESS PLAN OUTLINE as a guide for writing your business plan. Brief #03.01
Library Business Plans
Often we forget about all of the resources available at our local libraries. The Cincinnati Library has an exhaustive list of sample business plans and guidance material. Brief #01.10
The Strategic Plan
The strategic plan provides the basic focus and guidelines that drive the business planning process. It covers a multi-year period and provides a long-term perspective for your business and furnishes the business with a decision support framework to be used year around.
Strategic planning is a fundamental requirement of any successful business. It establishes and communicates direction and vision for the organization to follow, and allows management to respond to unexpected opportunities in your market place. Continue Reading Brief #03.12
What is an elevator pitch?
One of the most difficult tasks for any business owner is developing a succinct elevator pitch that allows them to explain to anyone what their business does and who it services.
An elevator pitch is an overview of your business that can be conveyed within 30 seconds (30-80 words) during the ride of an elevator. It should leave your listener wanting to know more. Elevator pitches can be written for products, people or businesses. Continue Reading Brief #03.14
Online Business Plan Resources
This brief offers more than eight online resources that you will find very helpful in preparing your business plan. Remember your business plan is one of the most important documents you can produce for your business.Continue Reading Brief #03.16