SmallBusinessNewz

Don't Risk Burnout, Change It Up!

The other day I was out my best girlfriend, a naturopath who started her own practice a couple years ago. Well, it’s growing fast and lately she’s been finding herself stuck with piles of charts that need all kinds of detailed info written in.

It Starts with a "Great" Idea...

If every "great idea" became a business, how many businesses do you think we would have? We would likely have a lot of businesses but instead, the Bureau of Labor Statistics is reporting the unemployment rate at 9.4 percent for July 2009.

Business Plan Part 9: Projections

We are at the end of our series on Business Plans. Can you believe it? The Projections section could be included in your Financial Plan, but it could also stand-alone as its own section. It lays out the  financial expectations for your business. As explained in the video below, entrepreneurs often times struggle with making their first projections. They don't want to sell their business short, but they also don't want to come across as overly confident.

Business Plan Part 8: Financial Plan

The Financial Plan of your Business Plan is a very important section. It is placed second to the last because it is made of data from the sections. Before you write this section, you should sit down with your accountant, financial advisor, or CFO and outline the financial structure of your business.

Business Plan Part 7: Management Team

The purpose of this section is to provide evidence that the management is more than capable to operate according to the laid out business model. As seen in the video below, the Management Team section needs to be written for your specific business needs. For example, if your business is driven by sales, show that you have a strong sales force.

Business Plan Part 6: Competitive Analysis

Before you write the Competitive Analysis portion of your Business Plan, you must  first conduct a thorough investigation of your competition. Your research must persuade the readers (AKA potential investors) that your business offerings will benefit consumers in a way that your competitors can't or won't.

Business Plan Parts 4 and 5: Products/Services and Sales and Marketing

It has been a while, but we are finally getting back to our Business Plan series with two sections: Products and Services and Sales and Marketing. The Products and Services section doesn't need a whole lot of discussion since it is short and self-explanatory. Although the Sales and Marketing section is a bit more complicated as illustrated in the video below, we will try to break it down and not overwhelm you.

Business Plan Part 3: Market Analysis

The Market Analysis section is, rather obviously, a close examination of your market. It needs to include information about your company, competition, and customer.

Business Plan Part 2: Business Overview

The second section of the business plan that we're going to look at is the Business Overview. Unlike the Executive Summary, the Business Overview requires a lot of details.

Business Plan Part 1: Executive Summary

The Executive Summary is the first section of a business plan and is usually the first part to be read. However, it should be written last. As strange as that sounds, it is actually easier to summarize the details of the other sections after you've written them.