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Business Plans Revealed - How to Write Your Plan and Why

A business plan is your vision of where you want your business to go and how you’re going
to get there. It’s a road map and, like a map, it helps to document the route on paper, rather
than simply commit it to memory. A coherent, written plan is as important to your success as a
set of blueprints is to a home developer. Without it, building becomes a chore.

As indispensable as it is, unless you’re using it to secure capital or financing, it needn’t be
overly complex and exhausting. So let’s make it easy. We’ll cover some basic guidelines,
enough to help you create one you can use.

Here are six sections you should write into your business plan.

COMPANY PROFILE

This is the first section you’ll write because it drives the remainder of your plan. What is your
company’s mission? What are you trying to do? This section describes why you’re in
business. If this section reads "I’m in business to make money", you’re in trouble. Any
company can say that. Instead, the profile section should describe how you’re going to meet
the needs of businesses or consumers in such a way that you can make money. You make
money by

1.meeting the needs of customers

2. at a price they’re willing to pay

3. at a cost at which you can make a profit

MARKET ANALYSIS

A critical component, this section should demonstrate your knowledge of the market in
general. It involves thinking about what you can do better than others in the same business,
and honestly acknowledging what can they do better than you. Look at your competitors,
compare them with your company. What you’re looking for is what Xerox called a USP, a
"Unique Selling Proposition" and what I call a JND, a "Just Noticeable Difference" that makes
you unique or different.

How is your industry doing? Is it growing? Shrinking? Are there barriers to entry that will
keep others from offering the same product (service)? Are the big boys moving into your
territory?

Also consider: Is your competition local, regional, national or global?

Consider external factors over which you have little or no control, such as the economy or
changing laws or regulations.

MARKETING PLAN

This section outlines your sales strategies. You’ve got something to offer. Here you describe
how you’re going to let people know about it. Advertising? Press releases? Direct mail? Word
of mouth? Flyers? A blimp?

Take whatever is unique about your business (your JND) and make it the hero. Use it to
develop a positioning statement, such as "I will be the cheapest source of this


product", or "I
will add more value to the customer relationship than my competitors", or "I’ll deliver it faster
than my competitors".

Consider how you’re going to obtain new customers and how you’re going to keep the ones
you get. What are your goals for new business development? How many customers do you
want? How many can you handle?

This section also encompasses new product (or service) development. What will you
introduce during the coming year? When and for how much?

FINANCIAL PLAN

This section addresses your short-term and long-term financial goals. It might be the least fun
but the most important section of your business plan. You don’t have to be an Excel genius to
do it. Here you determine your company’s start-up cost (if new) or overhead costs (if it is an
existing enterprise). You look at pricing and potential for profitability.

Your budget also is contained within this section. What are your fixed and variable expenses?
List the various expenses and estimate how much you’re going to need each month. How
much can you afford for advertising? You also outline equipment purchases, like a new PC or
printer, a Zip drive or a new telephone.

EXECUTIVE SUMMARY

The last part you’ll write, the first section to appear, it sums up the overall intent of the plan.
Write it as if you are going to show it to others to explain your vision.

There, we kept it simple. If you need a more complex, detailed plan, here are some resources:

Here you’ll find a business plan template

http://www.moneyhunter.com

This site has sample plans and some advice

http://www.morebusiness.com

Here are two software packages to help you create a credible plan.

BizPlan Builder Interactive ($90, www.jian.com) offers a template to make a fill-in-the-blank
plan.

Business Plan Pro 3.0 ($90, www.paloalto.com) uses a wizard like the tax or financial software
you’ve seen.

As you write your plan, think beyond what you’re doing today to what you expect to do (or
may be forced to do) tomorrow. Railroads failed because they thought they were in the
railroad business instead of the transportation business. And remember the six Ps: Proper
prior planning prevents poor performance.

About the Author

Mr. Beach is a marketing veteran and webmaster of award-winning BUSINESS-OPP.COM,
featuring a unique Three-Step Process to make money on the internet. All opportunities carry
a money-back guarantee. Free marketing reports, resources and an excellent e-zine, all at
http://www.business-opp.com/

 

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  • index

  • indie artist management economic realities insightful strategies

  • industry pro interview what is uncle sam really entitled to

  • inflation affects more than your money

  • influencing skills how to influence people

  • information technology consultants and professionals how to avoid being seen as just another salesperson

  • insurance tips and hints

  • intellectual capital its money in the bank

  • interactive mapping brings information to life

  • international telephone calling tips

  • internet payday loans tricks and tips

  • interview tips ten top dos donts for winning interviews

  • investigate before you invest

  • investorideas launches new investor portal rfidinvesting com to follow developments in radio frequency identification and wireless security applications

  • investor guide to financial health

  • irrigation sprinkler repair service create a profitable new service

  • is it time to hang up on investments in wireless

  • is your customer service excellent

  • is your discount rate really a discount

  • is your identity really safe

  • its networks otcbb itst new profiled featured company on telecom stocks industry research sector for investorideas com

  • its summer vacation time

  • i wasnt paying attention where does my money go and how can i get some back part 1

  • i wasn t paying attention where does my money go and how can i get some back part 1

  • japan a tiny leap forward

  • job tips for the frustrated job seeker

  • just in case party invitation byo pets laptops kids

  • jv and grow rich

  • key to success work hard at working smarter

  • knowledge management creating a sustainable yellow pages system

  • krusell international announces new cases

  • landlording 101 tricks of the trade

  • learning to save money

  • learn how to start a debt collection business

  • lessons from inspirational businesses in rural australia

  • lesson 2 how to find profitable niche markets

  • leverage raffles as a marketing tool

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  • lifeline to business

  • life by design

  • life long learning

  • linking purpose to everyday behaviors

  • local search getting more exposure for your business

  • looking for a new hbb idea heres one

  • looking for a new idea heres one

  • looking for harvey weinstein the book

  • look like sizzle be the steak

  • lose your job now 5 tips to get to severance heaven

  • low interest rates bigger savings

  • low mortgage rates are spurring the recent boom in home ownership

  • low or no cost ways to market your cleaning business

  • low unemployment catalyst for excellence or excuse for failure

  • make easy money online

  • make money at home start here first

  • make money in the strangest ways

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  • make the most of your mentoring relationships

  • make the most of your time focus on strengths

  • make your fortune in a paper business

  • making a small store go

  • making money from home

  • making money in your underwear the jeff paul marketing system

  • making money on the internet for beginners

  • making sense of credit card fees

  • making the most of long distance phone services

  • making the most of turn key businesses

  • manage your debts dont drown in them

  • managing time in a fast paced world

  • managing your home business and life

  • marketing for the self employed

  • marketing with a twist

  • maximize cost savings with increased efficiencies

  • maximize cost savings with increased efficiency

  • meditation why just sitting there isnt just sitting there

  • mental fitness for confidence and winning in life

  • merchant services add ecommerce functionality to any business

  • merger and acquisition an engine for corporate growth

  • mitsubishi mit mars data cable

  • mobile phones and communication

  • mobile phone accessories china

  • mobile phone usb data cable

  • moms five reasons to examine your spending habits

  • money management skills for a new millenium

  • money the art of bliss

  • mortgage sales hit problems

  • motorola corporate summary

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  • moving message board

  • multi level marketting pros and cons

  • mystery shopping an excellent part time job or additional income source

  • mystery shopping an excellent way to make extra money

  • mystery shopping mysterious way to improve customer care

  • my first month online

  • my las vegas review

  • my project broker experience

  • my quick un biased ipod review

  • m commerce twice the cash value of e commerce

  • need a sales boost try these

  • negotiating to buy a new car the easy way

  • networking tips

  • network marketing in its purest form

  • net worth nympho

  • nevada corporations advantages of incorporating in nevada

  • new age paint thickening rheological additives solvitex solvizen

  • new concepts in car insurance pay as you drive

  • new goodies at google

  • new home loan 3 tips to speed up the mortgage loan approval process

  • new mobile applications shock market part 1 of 2

  • new technology revolutionizes check collection

  • new year

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  • nigerian scam elements styles and cures

  • nine ways to lower your auto insurance costs

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  • nokia corporate summary

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  • nothing personal

  • not an affiliate why ever not

  • nuance can you hear me

  • office chairs determine the office environment

  • office set up

  • offshore this

  • oh to be as a child

  • old ideologies new vision how to harness both to succeed in the new economy

  • one minute feedback

  • online or offline business

  • online payday loans how to gain an advantage over lenders

  • online press rooms save the media time and frustration

  • online shopping the joy of online shopping

  • only good guys look for jobs

  • open source erp for smes

  • organize your office and improve productivity

  • organize your office space

  • out recruit the competition

  • overcoming frustration with technology

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  • paper shredders identity theft

  • parenting and running a home based business

  • park your garage sales on the internet

  • part 2 of 5 on the home business set up guide

  • payday advance loans use wisely

  • paying your bills on time

  • pay no bank fees lower your interest rates

  • peddling your own wagon through local exposure

  • penis in a box for a buck

  • personal training 6 secrets of award winning customer service

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  • phone interviews prepare to ace them

  • phone voip opens up unlimited possibilities for the future

  • planning for emergencies in your cleaning business

  • planning for moving house

  • planning for the unthinkable

  • please dont you buy any more useless reprint rights

  • please don t you buy any more useless reprint rights

  • plumbing and drainage franchises

  • point of sale systems how to choose a dealer to buy from

  • popular business misconceptions cost you money part 1

  • prepaid cell phone plans great option or last resort

  • preparing for tax preparation

  • preventing identity theft

  • private mortgage insurance doesnt protect homeowners

  • proactive high performance teamwork

  • profit from wooden novelties

  • project manager armaments

  • property casting podcasting for the real estate industry

  • protect yourself from identity theft

  • protect your most important asset

  • public relations tips you can take to the bank

  • public speaking for scaredy cats

  • putting your expert team together

  • put me through to your manager now

  • quality care options announces new employee benefit solution

  • rapid culture change is possible

  • rapid culture change is possible part 1 of 2

  • rapport how to build it with your team

  • real estate agent or broker

  • real estate marketing integrating your efforts for maximum response

  • real estate professional in the palm of your hand

  • real estate software for palm pc

  • real estate software for pocket pc

  • real story a hobo friend for my roommate

  • recruitment strategies

  • redefining distance to market your company

  • reduce your debt how to use debt consolidation to get yourself out of debt permanently

  • reducing credit card debt

  • reducing it expenses

  • refinance car loans refinancing your car loan online is convenient

  • remember the brakes

  • repair your credit like a financial expert

  • resume outline add structure flow to your resume

  • resume success factors what exactly is a resume anyway

  • reverse mortgages a tax free income for senior citizens

  • rewriting your resume 7 easy ways to give yourself an upgrade

  • rfidinvesting com presents its first online investor forum for rfid stocks and industry

  • right starting of a home business part i

  • rotator

  • rules of the game

  • running errands to earn extra income

  • running out of time

  • rv warranties are they worth the money

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  • samsung a200 data cable

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  • save money and learn more about your finances

  • save money on cell phone offers beware of family plans

  • saving for your childs financial future uk parents inactivity harming their childrens university and mortgage savings

  • scams to watch for

  • scheduling software can help you become more organized

  • searching for a low interest credit card

  • secrets of a 6 figure freelance writer

  • secrets of promotion

  • self employed tax strategies

  • self employment ideas

  • selling for beginners

  • selling for the non salesman

  • selling sales to customer service agents

  • selling through auction marketplaces

  • selling your database

  • selling your home a fsbos guide to keeping it safe

  • selling your home a fsbo s guide to keeping it safe

  • seniors and family caregivers now have an advocate

  • senior approved certification

  • setting financial goals part 1

  • setting goals your ticket to success

  • setting up your home office to enhance your network marketing lifestyle

  • settle smart how to do credit card payment

  • seventy five years old and still counting henry dreyfuss associates still make an impact on american life

  • seven key tax deductions for the self employed

  • seven painless ways to save 100 or more each month

  • seven steps to safeguard your pbx system

  • seven ways to win friends in business

  • shareholders meeting changing with times

  • should you choose to refinance

  • show me the money with mobile content

  • siemens cl50 lcd s35 lcd sl45 lcd

  • siemens s40 data cable

  • simple steps to project a professional home business image

  • six figure professionals their seven secrets

  • slash your phone bill in half now

  • small business 101 deadly ignorance

  • small business ownership and whole business accommodations

  • small business q a how to handle the occasional oop see

  • small business tax deductions for year end 2004

  • small medium size businesses

  • smart choices how to hire the best

  • sms and web mobile call

  • some of the strangest ways to make money

  • some tips for the safe use of cell phones and batteries

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  • sound advice for first time credit card users

  • so you wannabe a small business owner

  • so you want to be an affiliate marketer

  • so you want to start a web business well let me tell you something

  • sprint nextel corporate summary

  • starting an errand service

  • starting an errand service business

  • starting a concierge service

  • starting a home based business

  • steps you can take to protect your financial information and personal identity from fraud

  • stop paying two phone bills make your cell phone your primary line

  • stop your employee from becoming your competitor

  • streaming audio made easy

  • stretching your marketing dollars 7 cheap and easy ways to market on a budget

  • structure boundaires freedom

  • structure boundaries freedom

  • student credit cards 101

  • student credit cards 101 a students guide to credit

  • student credit cards 101 a student s guide to credit

  • success is out there waiting for you to join it

  • sure fire ways to drive customers away

  • survival on the road a resource for the on the road sales professional

  • survival tips for small businesses

  • survival without computers

  • surviving a layoff

  • survivor are you leader enough

  • swipe age what is a credit card machine

  • take away power for real estate investing

  • take back control of your cell phone

  • take charge seven tips to successful meetings

  • taking back control of your cell phone

  • taking care of your cell phone batteries

  • taking charge of your files

  • taking control of your credit history

  • taming the ebay search engine

  • task management tools the difference between average and successful people

  • taxpayer casualty guide preparing for a disaster

  • tax advantages of a homebased business

  • tax advantages of a home based business

  • tax lien ladys step by step guide how to prepare for your first tax sale

  • tax strategies for those with a home or small business

  • tax time tune up

  • tax tips for home based business owners

  • tax tips to save you time and money

  • technology brings blackberry thumb to business

  • technology in the workplace boon or curse

  • teleclasses your new innovative way to learn

  • telephone technology

  • tennessee mortgage loans

  • ten business reasons why asking for help works

  • ten easy ways to slow down in business

  • ten quick etiquette tips for business lunches

  • ten techniques for motivating others through chaos

  • ten top tips on making money online with articles

  • ten ways to improve your customer service

  • text vs pictures shedding light on the debate

  • theres a thief on your campus

  • the 2006 bmw m6 bmw performance parts aftermarket parts now available at parts train

  • the 5ws of world class customer service training

  • the 5 ws of world class customer service training

  • the 6 d information system

  • the 9 biggest mistakes every medical billing office should avoid

  • the advantages of rss websites

  • the art of co venturing in business

  • the baby stroller how to choose

  • the benefits of starting a home based business

  • the best deal on auto insurance

  • the best of stock market simulation games

  • the blessings of the black economy

  • the business meeting

  • the ceos guide to the top 5 issues that misguide business intelligence decisions

  • the changing face of business

  • the cheapest forget it

  • the client from hell learn to walk away

  • the countless alternatives to credit cards

  • the customer is number one

  • the death of the loyal customer

  • the easy way to build a great credit report

  • the eight rules of good customer service

  • the fastest delete finger in the midwest

  • the first step to creating multiple income streams

  • the future of advertising

  • the future of wireless

  • the google adsense money checks or extra income checks part 1 of 3

  • the google adsense money checks or extra income checks part 2 of 3

  • the holy grail of wholesale wholesale secrets revealed

  • the hot top 10 home business ideas

  • the hot top ten home business ideas

  • the impact of mcommerce

  • the informations age and making money

  • the information age and making money

  • the little things you need to know if youre self employed

  • the little things you need to know if you re self employed

  • the magic of keep in touch marketing

  • the microwave approach to investing

  • the money keyword list superchrage your websites earning power part 1 of 2

  • the myth of rankings beyond search engine optimization

  • the organized job search

  • the pattern repeats itself in your business unless you get conscious

  • the perfect work at home job i found it you can too

  • the power of a lifemasters aq coach dont waste time or money on training until you have read this valuable research

  • the pros and cons of holding conferences

  • the pros and cons of refinancing

  • the reality of buying wholesale

  • the search engine of the future mobility has a pricetag

  • the seven best ways for salespeople and entrepreneurs to build awesome customer relationships

  • the seven deadly tax sins commonly missed deductions

  • the seven essential elements to successful business communication

  • the smartest way to buy auto insurance part 1 of 4

  • the stale way to success

  • the student loan

  • the ten key competencies of personal productivity

  • the top 10 time termites and how to exterminate them

  • the top 10 ways for managers to build rapport through listening and stuff

  • the top ten worst work at home scams

  • the truth aboutt getting rich

  • the vanishing mail

  • thinking beyond debt consolidation loans

  • thirteen more ways to save 100 a month

  • this is a no real estate guru zone

  • this real estate market about to burst

  • three questions you must ask your loan officer

  • three steps to a professional image

  • three ways to improve your help desks reputation

  • thsi real estate market about to burst

  • time management how to make your meetings more productive

  • time management no

  • tips for cell phone batteries and usage

  • tips for maintaining client relationships

  • tips for managing your credit cards

  • tips for protecting your financial information and identity from fraud

  • tips for purchasing your companys laptops

  • tips for successful home show businesses

  • tip to help you protect your financial and personal information from fraud

  • toll free virtual pbx systems level the playing field for small businesses

  • too many things to do and not enough time mind mapping to the rescue

  • top 10 consumer complaints list

  • top 10 steps to creating a successful business retreat for self employed entrepreneurs

  • top 3 ways to boost your perceived value

  • top 5 school fund raiser ideas

  • top 7 lucrative paper businesses you can run

  • top ten tips about people management

  • top ten wholesalers on the net

  • traits of the successful entrepreneur

  • travelcasting offers on demand vacation sneak peeks

  • trusttel com mobile phone accessories china manufacturer and exporter

  • truth or consequences how to give employee feedback

  • turning keyboarding skills into cash

  • turn any hobby into a part time business

  • turn your email sign off into results seven step checklist for success

  • twitch speed reaching younger workers who think differently

  • underestimating the power of in house pr

  • understanding your insurance claim

  • use a virtual office as a profitable alternative to paying high rent

  • use the internet to boost your work from home income

  • use your cell phone trial period to test your plan here are some guidelines

  • using a shed as a garden office

  • using payday advance loans wisely emilys smart move

  • using photos as graphics in marketing your business

  • various online scams you have one defense yourself

  • verizon wireless corporate summary

  • virtual offices profitable alternative to paying high rent

  • virtual office communication choices with internet based business

  • virtual professionals working worldwide

  • voice over talent getting paid for the gig

  • voip phone hype phooey

  • voip small business home business advantage

  • voip telephony is it the right fit for you

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  • want the income of the marketing pros join easy street

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  • want to motivate people want to be more effectrive try this

  • warning this lease might explode any minute

  • watch out for fake ebay escrow scammers

  • ways to make more international calls without splurging on phone cards

  • website hosting whats it all mean

  • web development employment projects where and how to find them

  • wedding photography preserving the memories

  • whats going on with mobbing bullying and work harassment internationally

  • whats your credit score and what does it mean

  • whats your iq on basic pc phone voip knowledge

  • what are all those cell phone accessories used for

  • what are keywords and what the heck do you do with them

  • what are ringtones

  • what do employees wish for most and how to get it

  • what every work from home want to be should know before diving into telecommuting

  • what goes into starting a successful home based medical transcription business

  • what has your biz op done for you

  • what is a good internet marketing strategy for newbies

  • what is best digital analog or both

  • what is sms

  • what is the future of on line business should you still get excited

  • what s your credit score and what does it mean

  • what the freight brokerage business doesnt want disclosed and why

  • what to look for in a home based business opportunity

  • what to look for in a real estate agent

  • what you must know about selling online to europe

  • what you need to know about credit cards

  • when your customers steal

  • where did the customers go

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  • where to find an easy car loan

  • who will become wealthy in the information age

  • why do i need a external antenna for my pocketpc

  • why mobile sms text messaging

  • why my business chose voip

  • why online mortgage quotes dont always give the best rate

  • why public relations doesnt just happen

  • why radio advertising could be the best thing you ever did for your business

  • why should you refinance

  • why to pay a survey site when its free

  • why you should use full color printing

  • working at home doesnt have to mean feeling alone

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  • working at home using online paid surveys

  • working a home business

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  • workplace fatality the consequences for one business unit

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  • work from home job business how do you decide

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  • writing one or two line ads

  • yellow page advertisers need to show up

  • yes the seller can get a new loan

  • your assumptions about job descriptions can harm you

  • your best tool your business card

  • your budget and taste for gadgets will you determine what type of cell phone accessories you need

  • your business card executive pacifier or marketing tool

  • your credit report can stop you from getting everyday services

  • your customers are more than a number

  • your guide to plastic molding

  • you and your money

  • you can get on the oprah show before 2011