2. Introduction to Business Plans Introduction to Business Plans Business Plan Components Benefits of a Business Plan BizCentral USA’s Business Plan Writing and Process
3. Business Plan Basics For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm's customers, strengths and competition. Taking time to create an extensive business plan provides a company with insight into your business. This document can serve as a powerful financing proposal. While all business plans follow the same structure, each business will have a unique plan with a different set of information.
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6. A comprehensive, well constructed business plan can prevent a business from a downward spiral.
7. A thorough business plan will have the information to serve as a financial proposal and should be accepted by most lenders.
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9. Who Should Write the Business Plan? Top reasons business owners hire an outside consultant to write their business plan: Consultants can assist a business in the process of formulating the business plan Consultants can assist with the proposed financial data, the purpose of your business, mission statement, key employees, and management plans
10. Business Plan Components Introduction to Business Plans Business Plan Components Benefits of a Business Plan BizCentral USA’s Business Plan Writing and Process
11. Business Plan Components Executive Summary Company Summary Products or Services Market Analysis Strategy and Implementation Summary Management Summary Financial Plan
12. Business Plan Components Executive Summary: A persuasive summary that will entice a reader to take the plan seriously and read on. Includes information on the company’s history, objectives, services, market, strategies, management, and funding. Company Summary: Company summaries should discuss in detail the business’s ownership and legal status. Also includes information on the company’s start-up.
13. Business Plan Components Products or Services: It is important to discuss the competitive advantage a business’ product or service has over the competition . They should answer why there is a need for the product or service. What makes your product or service unique? Can you price the product or service competitively and still maintain a healthy profit margin? Marketing Analysis Provides an analysis of who your customers are, their purchasing habits, their buying cycle, etc. Investors look for management teams with a thorough knowledge of their target market.
14. Business Plan Components Strategy and Implementation: What resources and processes are necessary to get the product to market? This section should describe the manufacturing, R&D, purchasing, staffing, equipment and facilities required for your business. Management Summary: Investors must feel confident that the management team knows its market, product and has the ability to implement the plan. Therefore, a plan must communicate management's capabilities in obtaining the objectives outlined in the plan.
15. Business Plan Components Financial Plan: At the heart of any business operation is the accounting system. One of the first steps to having a profitable business is to establish a bookkeeping system which provides data in the following four areas: Balance Sheet Break-Even Analysis Profit and Loss Statement Cash Flow If the goal of your business plan is to obtain financing, a company must generate a financial forecast for 3-5 years.
16. Supporting Documents Include any documents that lend support to statements made in the body of your company's business plan. Resumes Credit information Quotes or Estimates Letters of Intent from prospective customers Letters of Support from credible people who know you Leases or Buy/Sell Agreements Legal Documents relevant to the business
17. Benefits of a Business Plan Introduction to Business Plans Business Plan Components Benefits of a Business Plan BizCentral USA’s Business Plan Writing and Process
18. Business Plan Benefits Puts a business idea to the test; it fine-tunes it up-front. Turns a good idea into a viable business or a working enterprise. Helps you come up with creative ways to make your business work. Shows you what you are up against with competition. Creates a detailed action plan to keep a competitive advantage. Specifies what you need to start the business… saves time and money. No nonsense list of equipment needs.
19. Business Plan Benefits Provides a timetable when you need to finish the items on your to-do list. Helps you get the funding you need. Tells the world who you are.
20. Business Plan Writing & Process Introduction to Business Plans Business Plan Components Benefits of a Business Plan BizCentral USA’s Business Plan Writing and Process
21. Business Plan Process After a client signs up for the service, they must sign the order confirmation & terms. Client receives a link to the business plan steps page & questionnaire. The steps page includes tools, resources and samples that will help the client provide the service consultant with useful information for their plan. Client submits the questionnaire and within 48 hrs an interview is set up with the service consultant.
22. Business Plan Process 5. During the phone interview, the service consultant will discuss business service or product offerings, target market, projected sales, and sales/marketing strategies with the client. After the interview, the service consultant will thoroughly research target market, industry, demographic and other business data in order to provide additional plan content. Work usually is completed within 10-15 business days and a copy of the plan will be provided to the client via email.
23. Frequently Asked Questions (FAQS) What is our experience with business plans? Because we are a low price leader, we process these in volume so we know how to do it right. Also, we know what our client’s banks and investors are looking for in a business plan. Do you guarantee you work? Our clients receive a draft copy of the plan and we work with them on it until it meets their approval. Do you have references? Yes, we can send clients a list of other satisfied clients who they may call. Also, they can view sample plans on our website. What if I get denied a bank loan? No one can guarantee investors or loans, however if a client needed to add additional information or content, we will work with them.
24. Summary Once the business plan is completed, it should become an operational tool to measure the success of the business. This plan should be updated as milestones are reached. A business should not shelve the plan once they receive the necessary capital. It should be a valuable tool for the growth and development of the business!