| |
| What Is a Business Plan? Why Do I Need a Business Plan? |
| | 3 | |
| Does Every Business Need a Plan? |
| | 3 | |
| Ten Sections of a Business Plan |
| | 4 | |
| Business Plans as a Communication Tool |
| | 6 | |
| | 6 | |
| Goals + Research + Strategy = Business Plan |
| | 6 | |
| Planning Stops Problems before They Start |
| | 7 | |
| Planning Is Part of Our DNA |
| | 8 | |
| | 8 | |
| | 8 | |
| Impress Your Bankers and Investors |
| | 9 | |
| Business Plans as a Management Tool |
| | 9 | |
| Understanding the Process and Getting Prepared |
| | 11 | |
| Trust the Process, and You Will Gain New Insights |
| | 11 | |
| What's Your Learning Style? |
| | 12 | |
| Learning Styles---Everyone Has One |
| | 13 | |
| | 14 | |
| The Process of Writing a Business Plan |
| | 15 | |
| | 16 | |
| Financial Projections for Your Business Plan |
| | 17 | |
| Ignore the Order in Which Sections Appear in the Final Document |
| | 17 | |
| Sample Business Plans Are Too General |
| | 18 | |
| | 19 | |
| PART 2 THE 10 SECTIONS OF A BUSINESS PLAN |
| |
| | 23 | |
| Industry Analysis = External Focus |
| | 23 | |
| Competitive Environment, Industry Trends, and Market Environment |
| | 24 | |
| | 25 | |
| | 28 | |
| | 28 | |
| | 30 | |
| | 30 | |
| Industry Analysis Questions |
| | 33 | |
| | 34 | |
| | 39 | |
| Benefits of the Market Analysis |
| | 39 | |
| Identify Your Competition |
| | 40 | |
| | 41 | |
| How to Gather Information about Your Competitors |
| | 42 | |
| Identify Sales and Profits by Market Segment |
| | 43 | |
| Other Sources of Information |
| | 43 | |
| In-Depth Marketing Research |
| | 44 | |
| Market Segments and Innovation |
| | 45 | |
| Calculate Market Size and Market Share |
| | 46 | |
| How to Determine the Size of Your Market |
| | 46 | |
| | 47 | |
| | 48 | |
| | 49 | |
| | 59 | |
| | 60 | |
| Define the Line of Products or Services |
| | 60 | |
| Service and Product Positioning |
| | 62 | |
| Start-Up and Expansion Costs |
| | 62 | |
| Document Revenue, Costs, and Profits |
| | 63 | |
| Growth, Expansion, and Redesign |
| | 64 | |
| Change in Costs and Profits |
| | 64 | |
| | 65 | |
| | 66 | |
| | 66 | |
| | 67 | |
| Create a Customer Needs and Preferences Profile |
| | 68 | |
| | 70 | |
| | 70 | |
| | 75 | |
| | 76 | |
| Draft a Mission Statement |
| | 78 | |
| | 78 | |
| Explain Your Business Goals |
| | 79 | |
| | 80 | |
| | 82 | |
| | 82 | |
| Sample Business Description |
| | 83 | |
| Marketing and Sales Strategy |
| | 85 | |
| The Five-Step Marketing Strategy |
| | 85 | |
| Pricing Decisions and Strategy |
| | 95 | |
| Want to Avoid Failure? Then Develop a Sales Strategy |
| | 98 | |
| | 99 | |
| Creating Your Sales Strategy |
| | 99 | |
| The Complete Six-Step Sales Process |
| | 101 | |
| Repeat Customers Generate Substantial Profits |
| | 104 | |
| Sample Marketing and Sales Strategy |
| | 105 | |
| Operations and Management |
| | 109 | |
| Why Operations and Management Plans Are Taken for Granted |
| | 109 | |
| Operations and Management as a Marketing Tool |
| | 110 | |
| Your Financier Will Take a Critical Eye to Management and Operations |
| | 110 | |
| Uses of an Operations and Management Plan |
| | 111 | |
| Components of the Operations and Management Plan |
| | 111 | |
| Management and Organizational Structure |
| | 119 | |
| | 120 | |
| Sample Management, Operations, and Organization Section |
| | 121 | |
| | 125 | |
| | 125 | |
| The Purpose of Your Pro Forma Financial Plan |
| | 127 | |
| The Pro Forma Financial Plan Must Answer Four Questions |
| | 127 | |
| Research and Study Sample Financial Statements |
| | 130 | |
| Building Your Business Financial Plan |
| | 130 | |
| Gather, Organize, and Enter Data |
| | 130 | |
| | 133 | |
| How to Build the Income Statement |
| | 141 | |
| Structure of the Income Statement |
| | 141 | |
| Building Your Pro Forma Statement of Cash Flows |
| | 145 | |
| The Difference between Cash Flow and Profitability |
| | 148 | |
| | 149 | |
| Structure of a Balance Sheet |
| | 149 | |
| Putting your Balance Sheet Together |
| | 151 | |
| Using the Balance Sheet to Determine Profit or Shortfall |
| | 152 | |
| | 152 | |
| | 153 | |
| | 153 | |
| Ratio Analysis---Understanding Your Financial Ratios |
| | 154 | |
| | 154 | |
| | 155 | |
| | 156 | |
| Sales, General, and Administrative Costs to Sales Ratio |
| | 157 | |
| | 159 | |
| Formatting the Financial Plan |
| | 161 | |
| Reality Check---Revise and Make Final Adjustments |
| | 164 | |
| | 165 | |
| | 165 | |
| Sample Pro Forma Financial Plan |
| | 166 | |
| | 171 | |
| | 171 | |
| Track Implementation Ideas as You Write |
| | 172 | |
| Special Considerations for Start-Ups |
| | 173 | |
| Implementation for Established Firms |
| | 175 | |
| | 175 | |
| Three-Part Implementation Plan |
| | 175 | |
| Sample Implementation Plan |
| | 175 | |
| Contingency and Emergency Plan |
| | 179 | |
| Business Planning Evolves |
| | 179 | |
| What Is the Purpose of a Contingency and Emergency Plan? |
| | 180 | |
| What Is an Emergency Plan? |
| | 180 | |
| What Is a Contingency Plan? |
| | 180 | |
| Key Performance Indicators |
| | 182 | |
| Write a Six-Step Disaster/Emergency Plan |
| | 188 | |
| What's Missing from the Sample Contingency and Emergency Plan |
| | 188 | |
| Sample Contingency and Emergency Plan |
| | 188 | |
| | 191 | |
| Customize the Executive Summary for the Person Reading Your Business Plan |
| | 191 | |
| Customizing the Executive Summary for Your Bank |
| | 193 | |
| | 194 | |
| | 194 | |
| PART 3 WRITING A BUSINESS PLAN IN 30 DAYS |
| |
| Writing a Business Plan in 30 Days |
| | 199 | |
| Minimize Your Distractions |
| | 200 | |
| | 200 | |
| How to Write a Business Plan in 30 Days |
| | 203 | |
| | 203 | |
| Common Mistakes in Writing a Business Plan |
| | 209 | |
| Writing a Business Plan to Get Funding |
| | 209 | |
| Writing a Business Plan to Get Your Business Organized |
| | 212 | |
| Writing a Business Plan because Your Banker Asked for It |
| | 212 | |
| Writing a Business Plan because You've Been Told You Need One |
| | 213 | |
| What to Do If You Have No Business Experience |
| | 213 | |
| Beware of the B.S. Factor |
| | 215 | |
| Writing a Business Plan without Financial Statements |
| | 215 | |
| Making Assumptions and Decisions without All the Facts |
| | 215 | |
| | 216 | |
| | 217 | |
| Not Enough Detail in the Business Plan |
| | 218 | |
| Not Customizing Your Business Plan for the Reader |
| | 218 | |
| Not Writing a Business Plan or Not Finishing It |
| | 219 | |
| Inflating Revenue or the Sales Forecast |
| | 219 | |
| Not Starting a Business Plan because It's Too Much Work |
| | 220 | |
| Working with Professional Advisers |
| | 221 | |
| History of Business Advisers |
| | 222 | |
| The ``Coaching'' Side of Business Coaching |
| | 222 | |
| | 223 | |
| | 224 | |
| Advisers Provide Perspective |
| | 224 | |
| Working with an Accountant or an Attorney |
| | 225 | |
| | 225 | |
| PART 4 SPECIAL CONSIDERATIONS FOR SPECIFIC BUSINESSES |
| |
| Business Planning for Inventors |
| | 229 | |
| | 230 | |
| Product Development: Building a Prototype |
| | 230 | |
| | 231 | |
| | 232 | |
| | 234 | |
| Making Money from Your Invention |
| | 235 | |
| Business Planning for a Retail Business |
| | 237 | |
| Describe Your Retail Location |
| | 237 | |
| | 237 | |
| Do Your Own Investigation |
| | 238 | |
| Drawing Traffic by Locating Close to Other Tenants |
| | 240 | |
| Staff Recruiting and Training |
| | 240 | |
| Buying the Right Inventory |
| | 241 | |
| The Retail Marketing Secret |
| | 241 | |
| What Type of Retail Business Do You Want? |
| | 242 | |
| Business Planning for a Manufacturing Business |
| | 245 | |
| Specific Operational Information to Include |
| | 245 | |
| Role of Quality Management Systems |
| | 245 | |
| Document Your Input Costs and Considerations |
| | 246 | |
| | 246 | |
| Facility Design and Operations Layout |
| | 247 | |
| Include Information about Labor, Production, and Process Considerations |
| | 248 | |
| Include Information about Your Health and Safety Programs |
| | 249 | |
| Include Your Plans for Training and Education Programs |
| | 250 | |
| Business Planning for Wholesale Distributors |
| | 251 | |
| | 251 | |
| | 252 | |
| | 253 | |
| | 253 | |
| | 254 | |
| | 254 | |
| Purchasing and Inventory Management |
| | 254 | |
| | 255 | |
| | 255 | |
| Vendor Support and Customer Service |
| | 255 | |
| Business Planning for a Service Business |
| | 257 | |
| Creating a Positive Customer Experience |
| | 257 | |
| Before You Write Your Business Plan, Define the Customers' Needs |
| | 258 | |
| | 258 | |
| | 258 | |
| Choose and Define Your Ideal Customer |
| | 259 | |
| Create a Service Blueprint |
| | 259 | |
| Watch for New Revenue Opportunities |
| | 259 | |
| Describe the Operation of Your Service Business |
| | 260 | |
| Business Planning for Consultants and Professionals |
| | 261 | |
| Seasonal Fluctuations in Sales Volume |
| | 261 | |
| Obtain Financing to Bridge the Gap |
| | 262 | |
| | 262 | |
| Financial Projections and Cash Flow Analysis |
| | 262 | |
| Business Planning for Large and Public Companies |
| | 265 | |
| Team Approach to Building Your Business Plan |
| | 265 | |
| | 266 | |
| Role of the CEO and Senior Executives in the Business Planning Process |
| | 266 | |
| | 267 | |
| | 267 | |
| | 268 | |
| | 268 | |
| | 269 | |
| | 269 | |
| Business Description and Executive Summary |
| | 270 | |
| Business Planning for Small-Medium Businesses (SMB) |
| | 271 | |
| You Might Be a Small Business, but Growth Is a Priority |
| | 271 | |
| Growth Potential = Growth in Human Resources |
| | 271 | |
| | 272 | |
| | 273 | |
| | 273 | |
| | 273 | |
| Exit Strategy, Sarbanes-Oxley (SOX) |
| | 274 | |
| Business Planning for Small-Small Businesses |
| | 275 | |
| The Big Business Trend? Keeping It Small |
| | 275 | |
| Build a Diversified Marketing and Sales Plan |
| | 276 | |
| Create a Development Plan to Increase Your Interpersonal Skills |
| | 276 | |
| Avoid the Trap of ``Breakevenitis''---Create a Profit Plan |
| | 277 | |
| Your Customers Fund Your Downtime |
| | 277 | |
| Calculate a Profitable Rate and Build a Profit Plan |
| | 278 | |
| Keep an Eye on Economic and Business Trends |
| | 280 | |
| Taking Outsourced Work from Larger Companies---Get a Good Contract |
| | 280 | |
| U.S. Entrepreneurship Outlook |
| | 281 | |
| Manage Cash Flow by Managing the Sales Process |
| | 281 | |
| Calculate Required Sales Activity |
| | 281 | |
| Long Hours When Successful |
| | 283 | |
| Getting a Business Loan for a Small-Small Business |
| | 283 | |
| Business Planning for a Web-Based Business |
| | 285 | |
| | 285 | |
| Choose Your Market Wisely |
| | 286 | |
| Think You'll Need Venture Capital? |
| | 287 | |
| | 288 | |
| Use Wisdom When You Write Your Business Plan |
| | 289 | |
| | 289 | |
| | 289 | |
| | 289 | |
| | 290 | |
| | 291 | |
| PART 5 GETTING THE MONEY YOU NEED |
| |
| Applying for a Business Loan |
| | 295 | |
| Preparing to Apply for a Small Business Loan |
| | 295 | |
| After the Loan Application |
| | 296 | |
| | 296 | |
| | 297 | |
| | 297 | |
| | 298 | |
| Supporting Documents Needed for a New Commercial Business Loan |
| | 298 | |
| The Loan Application Process for a Commercial Business Loan |
| | 299 | |
| Small Business Administration Loans |
| | 300 | |
| Alternative Financing Options |
| | 300 | |
| | 303 | |
| Getting Funding from Investors, Family, and Friends |
| | 307 | |
| Get a Loan or Sell Equity |
| | 307 | |
| | 308 | |
| | 308 | |
| Should I Ask for More Money Than I Need to Create a Cushion? |
| | 309 | |
| Be Professional in Your Business Dealings |
| | 310 | |
| | 310 | |
| |
| | 315 | |
| | 351 | |
| C. 101 + Marketing Tools, Tactics, and Strategies |
| | 355 | |
| Sample Tools and Strategies |
| | 355 | |
| Sample Application of Marketing Tools |
| | 356 | |
| D. Getting Help Writing Your Business Plan |
| | 359 | |
| How to Select, Screen, and Hire a Business Plan Writer or Business Plan Professional |
| | 359 | |
| How to Get Maximum Value When You Hire a Business Coach |
| | 362 | |
| E. Web Resources and Links |
| | 363 | |
| F. Software That Can Help |
| | 365 | |
| G. How the Author Can Help |
| | 367 | |
| Getting Support While You're Writing Your Business Plan |
| | 367 | |
| Why I Do Not Write Business Plans for Other People |
| | 367 | |
| | 368 | |
| Common Problems Facing Business Owners |
| | 368 | |
| | 371 | |
| How My Coaching Relationships Work |
| | 372 | |
| Seven Reasons You Should Consider Coaching |
| | 373 | |
| Index | | 375 | |