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Prepare Your Business For Opening Day

Every new business venture begins with a plan. Before
opening your doors for business, whether virtual or physical,
you must be prepared for the many details involved in running
a business. Thinking through these details and putting them
on paper helps you to be prepared.

OBJECTIVES OF YOUR BUSINESS PLAN

A business plan lays out the future of your business. It is a
written document which tells what you do and how you plan
to do it. While your plan is a unique document designed for
your type of business, there are certain objectives contained
within any good business plan:

1. Sets forth goals and how they will be achieved.

2. Defines obstacles and outlines strategies to overcome them.

3. States the legal and organizational structure of the business.

4. Quantifies financial needs and makes financial projections.

LENGTH OF YOUR BUSINESS PLAN

The length of your plan depends on the purpose you will
use it for. If you need to acquire venture capital for your
business, you may need to provide extensive detail for
prospective investors. If your plan is simply a roadmap for
you to follow, it can be quite short. Whether it is one
paragraph or 100 pages depends entirely on your objectives.

YOUR BUSINESS PLAN IS UNIQUE

Business plans vary from industry to industry and from
business to business. No two plans are alike. Your emphasis
should be on providing an accurate and realistic presentation
of your business. Your plan is about you and your business -
this makes it a unique creation.

That said, you can still benefit by studying sample business
plans - like those at Bplans.com. Notice the various formats
and styles used by the authors. Do you see categories you
should include in your plan? How did the author structure
their writing to conclude a point? Take the lead from sample
plans to capture the tone and refine your own plan.

QUESTIONS TO ASK YOURSELF

A good business plan tackles three major areas. Look at
the questions within each of the three areas below and
answer them as they apply to your business.

1. The Business

What is the legal structure of your business? Will it be a sole
proprietorship, a partnership, or a corporation? What is the
name of your business? Who are the people in your business?
How is your business uniquely positioned to succeed? What
are existing conditions within your industry? How do you intend
to grow? What is your product? What does it do? How will you
handle and deliver orders?

2. The Market

Who are your customers? Why are they customers? What
motivates your


customers? What need are you filling for these
customers? How will you motivate them to buy from you? How
will you find and attract these customers? Who is your
competition? What advantage do you have over your
competition? How will you position yourself to win market
share? Do you have technical data, surveys, or information
sources to back up your claims?

3. Finances

How much money are you bringing to your business? What
are your start-up costs? How will the money be used? When
will your business become profitable? What are your financial
projections for the next five years?

ELEMENTS OF A BUSINESS PLAN

Here are the key elements to include in your business plan.
Keep in mind that your business plan is unique to your
business, so don't be afraid to beef things up as needed.

Executive Summary - This is a summation of the important
points within your business plan. It should not be over three
pages long. This summary is of particular interest to potential
investors in your business, and allows them decide if you are
a worthy investment vehicle.

Company Summary - Describes your business, customer
focus, and your goals. Includes things such as your business
structure, start-up projections, and business location.

Products and Services - Describes what you have to offer, its
advantage to the customer, your reasoning for the need of
your product or service, and a look into your place among
the competition.

Market Analysis - Details the who, what, where, why, and
how of your market. Includes analysis of your industry and
your strengths therein.

Marketing and Sales Strategies - Key to this section is your
plan to operate in a competitive environment. Sales forecasts
and marketing details give an in-depth look at actual customer
acquisition.

Operations and Management - Fully details the structure and
operation of your organization.

Financial Plan - Provides a comprehensive look at business
cash flow, profit and loss, break-even analysis, and other
financial indicators.

In conclusion, your business is less likely to fail if you are
able to predict outcomes. Your business plan sets realistic
goals for success. The above information serves as a general
map. You fill in the details - as many as are needed. Most
assuredly, your efforts will be rewarded for years to come.


About the Author

Brett Krkosska provides 'how-to' advice on family and
home-based work issues. Get start-up guidance, business
ideas and inspiration at: http://homebiztools.com
Free ezine subscription: mailto:enews@homebiztools.com

 

Oral Presentation Advice
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www.cs.wisc.edu
 
Presentation Skills
This site contains annotated links to resources concerned with presentation and communication skills.
lorien.ncl.ac.uk
 
Presentation Helper - Free PowerPoint templates, help, advice and ...
Resources on how to make effective presentations. Includes tips on PowerPoint and topic ideas.
www.presentationhelper.co.uk
 
Neurobehavioral Systems, Inc.
Neuroscience stimulus delivery software can be used for cognitive psychology, fMRI, erp and single unit research (Windows).
nbs.neuro-bs.com
 
Why tables for layout is stupid: problems defined, solutions offered
Why tables for layout is stupid:. problems defined, solutions offered. Tables existed in HTML for one reason: To display tabular data. ...
www.hotdesign.com
 
The Gettysburg Powerpoint Presentation
This presentation prepared with the help of Microsoft Powerpoint Autocontent Wizard. ... Permission is granted to use this presentation in any course or ...
norvig.com
 
Presentation Zen
I love the clear presentation of the ideas in the book and the fact that the ... In the context of presentations, moving info away can help you and the ...
www.presentationzen.com
 
Presentation Tips for Public Speaking
Better Public Speaking & Presentation - Ensure Your Words Are Always ... On the Job: Public Speaking Tips - Twelve Steps to Great Presentations by Elise ...
www.aresearchguide.com
 
Presentation - Wikipedia, the free encyclopedia
Presentation is the process of presenting the content of a topic to an ... You should plan to rehearse your presentation out loud at least four times. ...
en.wikipedia.org
 
OSCON 2005 Keynote - Identity 2.0
“A barn-burner of a presentation. I loved this.” - Cory Doctorow. “I watched it twice, and greatly enjoyed it both times.” - Jon Udell ...
www.identity20.com
 
Presentations - Effective Communication - Public Speaking
Tips and tools for creating and delivering presentations: text, techniques and technology.
www.presentations.com
 
Presentation Information Resources - Presentation Technology News ...
Presentation Information Resources - Comprehensive presenter's resource providing instant access to up-to-date information on technology and techniques for ...
199.249.170.231
 
Effective Presentations homepage
In addition, the skills needed to prepare an oral presentation can be used ... A spiffy presentation discussing Effective Teaching with Powerpoint from the ...
www.kumc.edu
 
Impress
Your presentations will stand out with 2D and 3D clip art, special effects, animation, ... Slide show Animation and Effects bring your presentation to life. ...
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PRESENTATIONPRO - experts for Microsoft PowerPoint
A series of products and services to help enhance PowerPoint presentations with templates and backgrounds.
www.presentationpro.com
 
Leadership - Presentation Skills
Presentation, PowerPoint, and Leadership. ... Presentations and reports are ways of communicating ideas and information to a group. But unlike a report, ...
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Presentation: See what people are saying right now on Technorati
See all blog posts tagged with presentation on Technorati.
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Secretary of State Addresses the U.N. Security Council
My friends, this has been a long and a detailed presentation. And I thank you for your patience. But there is one more subject that I would like to touch on ...
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Rubric
Organization, Audience cannot understand presentation because there is no sequence of information. Audience has difficulty following presentation because ...
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Presentation Skills
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