| Oct. 21 2006 at 4:12 PM |
|
|
The process of business planning is critical. Just having the discipline to sit down and do it says something about the person.
I think the most important attributes of business planning is focus. It forces you to focus on what is most important. And if you use it properly, that is, revisiting the plan as you work it, you really can see where you'll be in six months, one year...
I thought the projection piece was most difficult the first time around. I was waaaay too optimistic. But sticking with it taught me a lot.
And in the end, the marketing piece, which I thought the simplest to write on the front end, ended up the most difficult. I've been a marketer for years. But it was with an established organization's budget behind me. When faced with a very limited budget to work with, I had to become much more creative. I learned the most here.
No matter how small and informally you want to start, don't skip this step. Critical...really!
Robin
Robin Gifford ::
Springboard ::
Take your place in the world!
www.springboardforsuccess.blogspot.com :: http://web.mac.com/robin.gifford
springboard@windstream.net
|
| Oct. 31 2006 at 6:38 PM |
|
|
Its truth that many
businesses fail because they do not develop a business plan. Great article and thanks for sharing.
Certified Internet Marketing Specialist
Turning Clicks Into Cash For Her Clients!
Founder of the popular, informative, educational & resourceful Virtual Assistant Networking Association (VANA) and Author of The Virtual Business Startup System
|
| Sep. 06 2007 at 12:58 PM |
|
|
|
Interesting article! In writing business and marketing plans, I would add a comment to #2 - How does your idea address a need?
More than understanding how the idea addresses a need, I always try to figure out that need within the specific market. Knowing who your competitors are, assessing the market potential, and targeting customers wants and needs within that market is crucial for the success of a business and marketing plan.
A specific need is not necessarily universal - it should be assessed regionally or within a niche. The smaller the niche, the more potential the need will have to be relevant to that audience.
Claudine Vainrub
http://www.eduplan.us
|
| Sep. 06 2007 at 3:25 PM |
|
|
Great article! I write business plans for my clients and I can tell you that if you're starting a business, own a business, want to buy a business, purchasing a building for your office, trying to get a loan, purchasing a franchise, working from you home (your HOA), there will come a time when a business plan will be needed and asked for. I grab individuals who are in the start up phases, and the business plans I create really send them off into the business world one-step ahead of the game. Jocelyn Saccuci
EZ Biz Plans, LLC
4898 S. Fresno Street
Chandler, AZ. 85249
(602) 430-3079 - Phone
(866) 220-9542 - Fax (Toll Free)
www.ezbizplans.com
jocelyn@ezbizplans.com
|
| Sep. 06 2007 at 5:31 PM |
|
|
|
Having tried so many times to produce a traditional business plan, I have finally found a system that I believe works really well for the small business owner. Unless you have a real need for the large, in-depth, traditional business plan - what most business owners need is a "real working plan to guide their growth and success". I work with small business owners to create "Success Plans". These do all the things a traditional business plan would do, but on a smaller more useable scale. The plan causes you to consider your three year plan, but work on 12 months at a time. It considers your experience, resources, goals, strategies and success measurements. It does have financial projections and actual tracking, and comes with 12 months of follow up consulting. The point is to really consider where you want to go and what it will take to get there. After some in-depth work, it is a matter of accountability to the plan. Plans are also just that, plans. They should be checked in with on a regular basis and revised to fit evolving needs. If you are considering a business plan to guide your growth, as opposed to seeking large capital investments or a merger of some sort, consider doing a Success Plan to get a feel for the process and accountability. It will surely lead to bigger and better opportunities. Stephanie Graziano
BYOB, Building Your Own Business
Creative Strategies - Powerful Results
|
| Sep. 07 2007 at 1:58 PM |
|
|
|
From my experience, the most important aspect of the business plan process is the "thinking" that goes into developing it. Decisions that are made, research done, assumptions identified, etc.
So I encourage every business person to begin the planning process - you don't need to create a 40 page 4-color plan to get real value.
Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com
|
| Jan. 08 2008 at 1:25 PM |
|
|
|
I would like to start financial advisory company. functions of company Consulting people about their investments : Real estate, Equity Market and Capital Market.
I would like to know wht all information to accumulate and Staffing.
Reply Soon.
|
| Jan. 15 2008 at 12:07 PM |
|
|
I think people get too wrapped up into the final product that is the Business Plan. What is important is the PROCESS to get to that final product. Building your Business Plan helps you define your business, your objectives and then set strategies in place to help achieve your objectives. That would include a marketing strategy, maybe a retail/manufacturing strategy, financial forecasting etc...
I am actually in the process of building our Business Plan and I am finding its the process thats helping us the most. Even if no one ever sees the Business Plan, I have learnt a great deal of my own business, where we are, where we want to be and how we are going to get there.
Its the PROCESS that will benefit you in the long term.
Regards
Dan Rucci
Managing Director
AdToll - "Your Tollgate to Web Traffic"
http://www.adtoll.com
- 75% publisher commissions
- Rewarding affiliate program
- Fixed Price Sponsored ads
- Run of Network PPC based ads
|
|
|