Millions of people worldwide look at the very successful entrepreneurs we can think of and dream of becoming like them. They have aspirations deep in their hearts of also starting their own businesses and being their own bosses. They harbour these aspirations and seek opportunities to manifest them by taking initiatives to identify business opportunities and investing hard-to-come-by funds to start businesses. Their hope is that within a few years, they will be owners of successful businesses that will propel them to the heights of success and make their entrepreneurial dreams come true.
Inasmuch as it is a fact that true career happiness lies in the freedom of doing the work we love, the work that is based on our hobbies and which we do effortlessly, there is no guarantee that we will succeed if we don’t take certain elementary steps. If we don’t do certain basics things which will bring to fruition our dreams of being successful entrepreneurs, then we will not reach the heights of success we long for.
There is an old cliché that, many people spend a lot more time planning weekends, vacations, weddings and parties than they do in planning their own lives. The same is true for businesses. Many people do not spend time to plan their businesses before jumping headlong into the sea of uncertainty which is the business world. They start their businesses based solely on their emotions, enthusiasm and optimism only to realize a short while down the line that their businesses have begun sinking. The cost of business failures is unimaginable as it goes beyond financial to most often emotional and crucially, sometimes psychologically destabilizing would-be entrepreneurs.
The only sure way to avoid all this turmoil is to write a successful business plan.
I’m sure you are wondering what a business plan is. Don’t worry, I will explain it to you in very simple words so you fully understand what I mean.
Before the construction of any building, architects draw out what the building should look like. Based on what they have envisioned the business to be, thy go about meticulously putting their pencils, rulers and all measurement devices to draw a plan for the building. After they have successfully done this, building engineers go about the arduous task of construction based on the plan which is made easier because they have pictorial representation of what the building should like in addition to the dimensions needed for the sizes of the various areas of the building.
In the same vein, when it comes to you, let’s assume you want to start a business selling computers. Based on your idea for the business, you should be able to determine the type of computers you want to sell, the brand of computers, the individuals to whom you want to sell these computers, determine why exactly you think that these individuals need your computers, know how much these individuals will be willing to pay for your computers, know where they are already getting their supply of computers from, know how much you will need to start the business, know how many computers you will need to sell at the end of every month to meet your financial obligations, know at every point in time whether you are on course with being successful with your business or not.
Once you have figured all these out on paper, you would have developed a very convincing business plan that will prove to any investor that you know what you are about and have charted out the course of success thoroughly. Once you have this business plan in hand as well, you will be able to properly run the business as you would have had specific targets to meet as enumerated in your plan. When you are not meeting these targets, you will find it hard to fulfill your financial obligations and that is where the pressure of having your business fail will start to build up.
With this special book, you’ll learn how to:
- Determine if your business idea will be successful and make you money
- Estimate all your operating expenses
- Prepare your cash flow
- Forecast your profit and loss
- Determine all the total assets, liabilities and net worth of your business
- Find potential sources of funding for your business
- Estimate if you should borrow from friends or family, banks or a venture capital firm
- Professionally present your self-written business plan to lenders and investors
So why at all do you need a business plan? If you’re asking yourself this question then these are my answers to you:
- A business plan helps you manage your business successfully: With a business plan, you will be able to guide your business towards a central goal by following the objectives and processes enumerated. Having developed a plan, all you need to do is to follow it to the letter and make the necessary adjustments to it as and when conditions in the business environment change relative to the contents of the plan.
- It helps you determine your financial needs and apply for funds:The business plan is very important in the acquisition of funds. Financial institutions like banks, venture capital firms and investors want to be informed about the entire scope of a business before they commit funds to it. The business plan makes this easy as it explains the entire business in a very clear manner making business financing very easy.
- It gives you a very integrated view of your business:By preparing your business plan, you get an integrated view of your business. For example, it helps you to better identify your target clients, outline your market segment, shape your pricing strategy and define the competitive conditions under which you must operate in order to succeed. The business plan ensures that all of these are consistent and properly harmonized. It also leads to the discovery of competitive advantages or new opportunities as well as deficiencies that may exist in the business. Committing your plans to paper ensures that your overall ability to manage your business will improve. You will be able to concentrate your efforts on any deviations from the plan before conditions become critical. You will also have time to look ahead and avoid problems before they arise.
- It enhances mutual understanding within your management team:The business plan helps to improve the understanding within the management team. This is because as the entire management team is involved in the planning process, they get to put their heads together to analyze the entire scope of the business to ensure its efficiency. This unification will ensure that the management team is on the same wavelength in their management operations.
- It helps you secure approval from your board of directors and shareholders:The board of directors and shareholders give approvals to management propositions based on extensive information about the impact of the decision on the business. A business plan details such decisions and their impacts hence, making it easier for the board of directors and shareholders to make their decisions as they are provided with all the information they need through the business plan.
I wouldn’t worry if I were you though. Most especially when the solution to all your problems is right here for you to take advantage of.
|What you need to solve all your problems is my book|
Yes, a winning business plan is what I teach you how to write in my book.
This book is in two parts being the narrative section and the financial forecasting section. The narrative is the body of the business plan and contains more than 200 different questions divided into several sections. Work through the sections in any order you like, except for the Executive Summary, which you should do last. Skip any questions that do not apply to your business.
When you have finished answering all the questions, you will have a collection of small essays on each section of the business plan. What you have to do is to put all of these together into a flowing narrative in several paragraphs to form your business plan as is done in the sample business plans in the book.
The financial forecasting chapter provides guidance on how to develop your financial projections. With your basic knowledge in accounting and Excel, follow the explanatory notes provided and you will end up with very comprehensive financial projections that you can present to any prospective investor.
The real value of doing a business plan is not in having the finished plan in hand but in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think through your business idea thoroughly, to study and research when you are not sure of the facts and to look at your ideas critically. It takes time, but avoids costly, perhaps disastrous, mistakes later.
It typically takes several weeks to complete a good plan. Most of that time is spent in researching and rethinking your ideas and assumptions. But then, that is the value of the process. So make time to do the job properly. Those who do, never regret the effort.
Finally, be sure to keep notes on your sources of information and on the assumptions underlying your financial data.
The book has the following very interesting features:
- Over 200 different questions on all areas of your business. This will give you the benefit of being able to think through every area of your business. You will be able to anticipate any challenge even before they occur and find solutions for them. Things about your business you may not have thought about will be brought to your immediate attention.
- A step-by-step guide to developing your financial projections. With this books, you don’t need to be an expert in financial accounting to develop your own set of financial projections. The explanations have been made very basic so the highest novice in accounting will be able to do this. All you will need is your Microsoft Excel spreadsheet and you will be on your way to developing your own financial projections without the help of accountants who will charge you so much money for something you could have done easily yourself.
For only $15, you will be on your way to becoming a successful entrepreneur.
|If you want to change your life and make your dreams come true, then just click the button below to download your copy of this book instantly.|
|The book is in pdf format so you will need adobe installed on your computer to use it|
ClickBank is the retailer of products on this site. CLICKBANK® is a registered trademark of Click Sales, Inc., a Delaware corporation located at 917 S. Lusk Street, Suite 200, Boise Idaho, 83706, USA and used by permission. ClickBank’s role as retailer does not constitute an endorsement, approval or review of these products or any claim, statement or opinion used in promotion of this product.