Archive for the ‘Business Plan’ Category
Consider 2 business plans that are 35 pages and 3,000 words. One plan assists the owner raise $4 million in fun
In the Real-estate industry, they use the term Location, Location, Location to describe the importance of key elements of property selection.
In business planning we use the term Strategy, Strategy, Strategy to describe the relative importance of different business planning elements. Whilst we have developed hundreds of business plans for clients, we have yet to come across one whose strategy has been well thought through from the outset.
The business that we end up creating a plan for, generally looks very different from the one the client came to us with, why? When you look at business planning from a strategic perspective, you often find internal inconsistencies in the strategy. Ie. If you do this, then you simply can’t do that! The strategy is best developed by asking a series of targeted questions (HyperQuestions).Marcus
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2011/01/09 |245 views|0
Strategy and Business Planning
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Consider 2 business plans that are 35 pages and 3,000 words. One plan assists the owner raise $4 million in fun
In the Real-estate industry, they use the term Location, Location, Location to describe the importance of key elements of property selection.
In business planning we use the term Strategy, Strategy, Strategy to describe the relative importance of different business planning elements. Whilst we have developed hundreds of business plans for clients, we have yet to come across one whose strategy has been well thought through from the outset.
The business that we end up creating a plan for, generally looks very different from the one the client came to us with, why? When you look at business planning from a strategic perspective, you often find internal inconsistencies in the strategy. Ie. If you do this, then you simply can’t do that! The strategy is best developed by asking a series of targeted questions (HyperQuestions).
Many people start business planning by finding a template that fits their business and then writing the business planning document. This approach ignores the critical element of business planning, Strategy, Strategy, Strategy. The reason this is the most common approach, is that it is easier to write than think. Most business founders to not know the right questions to ask to develop and refine their strategy. Once the strategy has been clearly developed and aligned in a hierarchical manner, the document is simply an output.
So how do we go about creating a consistent strategy as the basis for our business planning process?
Questions, Questions, Questions. If you engaged a consultant to develop your business plan, they would start by asking a series of questions. If the consultant is good, these questions will assist in guiding strategy development in a way that appeals to your target audience. If you are intending to raise capital with your business plan, questions such as how much to you intend to raise, and what is the current valuation can provide a starting point. Of course the structure of the document and its ability to clearly communicate the strategy actions and financial implications is critical, but that is all the document is, simply a structured communication of earlier thinking.
We have developed a new approach to business planning by using a series of pre-structured questions that actually build based on your answers to previous questions, effectively automating the strategy development associated with business planning. This enables automated creation of your business planning documentation
You may be wondering why you need a plan for your business work? You are already moving the charts of success then what is their to plan now? First lets see what is actually a business plan is. A tool that focuses on your business objectives, the products and services involve:
? Estimating your market potentials
? Projecting financial results and money to be loaned from investors
? Expertise in firm
? Presents the likely return on your investments
Business plan is what outlines the goals of your company. So even while climbing up the charts you need to look out where your steps are going. It may prevent you from falling into that dark room which you see as soon as the light goes off and then after realize your generator is not working either. It is also a document that you can use to persuade the outsiders and convince them to join in your venture.
In short it is a summary that will navigate your business boat to the success shore. You don?t need to be a pirate anymore to get all your investments, simply make attractive business plans to get all that neglected attention.
This plan of yours will be a document outlining all the goals and what steps will you take to climb up there. Any investor looks at your plan first before investing and determines how perfect you are in your own terms. Any confusions from your sides invent doubts on your capabilities in target achieving. Not even the banks advance loans without having a look at your documents. So if you cannot design it on your own atleast take the help of the professionals. Initially or in the path of success the design of a good business plan holds its own importance at every phase.
The business plan contains components of executive summary of the plan with a concise summary of elevator pitch and a description of the market business. It gives an outline of:
? marketing strategy and
? projected costs with details of whole of the team with their area of expertise and relevant experience
? projected financial results with break even points and burn rate
? exit strategy with appraisals of how the investors can recoup their investment
Business plans is necessary to focus on any businesses future growth and during a need to raise capital. Any investor first looks into business plan before concluding his own assessment of the form?s viability. So to make sure a good layout is more of a necessity than just a formality.
Here, we are going to discuss the development of a Japanese restaurant as relates to producing a business plan for this to the company also securing as being leveled. Japanese restaurants tend to be relatively immune from negative changes in the economy and the moderate pricing point to associate with these big businesses. As such, the high margins generated by the business, coupled with the large amount of tangible assets associated with the business values businesses to remain possible despite negative changes in the economy.As with all business plans, we first start with producing an executive summary for our Japanese restaurant. First, you’re going to want to discuss the specific types of products that you sell your Japanese restaurant. Common products sold through these businesses include sushi, sashimi, and beverage services. Additionally, you may want to make mention as to whether or not you obtain liquor license as it pertains to providing specialty cocktails for your customers.Next, you’re going to want to discuss your Japanese restaurant SBA loan. Here, you should discuss how much money you’re seeking, anticipated interest rate, the anticipated monthly repayment rate, and the term below. You also going to want to make mention of how much money you intend to contribute to the development of your Japanese restaurant. Here, again, you may also want to briefly discuss how you intend to use these SBA loan funds, however, you can keep this section relatively brief as you will be further discussing this in the next section the business plan.Next, you’re going to want to discuss your experience as an entrepreneur, as a restaurant manager, and how you intend to make a Japanese restaurant profitable within the first year to two years of operation. You may also want to provide some background information as relates to education, experience as an entrepreneur, in your experience within the restaurant industry.Finally, within the executive summary, you’re going to want to focus substantially on how you intend to expand revenues during the first five years of operation. This may include just reading a number of flyers, expanding your marketing infrastructure, and potentially developing second locations after the first five years of operation.
SBA Loans for Japanese Restaurants
In the second section of the business plan, you’re going to want to specifically discuss how you intend to use your SBA loan as it relates to the development of your Japanese restaurant. Here, you’re going to want to provide a complete breakdown of the costs related to restaurant development, kitchen equipment, archers, fixtures, up living, working capital, and marketing capital that is associated with the development of your Japanese restaurant. Here, again, you may also want to discuss how much money you intend to contribute to the venture as it relates to your Japanese themed restaurant.
Franchise businesses are the money makers of the world today. These companies have several establishments that all generate money. And franchise businesses are the way that people are going these days. If you have a company that you want to make into a franchise, or if you want to buy and build a franchise establishment, then you will need to devise a franchise business plan.
A franchise business is a business that has several locations, all with the same company name or the same brand. While many franchises have locations that all do the same thing, some have locations that do different things with all of the same brand name. Both of these types have many popular companies out there.
When you decide that you want to become part of the franchise world, then there are two ways that you can go about it. You can either buy a franchise brand and turn your establishment or establishments into the brand or you can buy a brand and build another location of the particular brand. Either way is just as reasonable an idea.
Either way you go, you will first have to get a franchise business plan together. This will do two things for you. First, it will give you a guidebook for what will happen with your business. It will outline what you need to do in order to create your franchise business. It will also be what you have to present to the financial institution if you seek financing in the form of a loan to pay for the expenses that will come up.
Your franchise business plan will include two major things. The first of these is the outline of what will happen with your business as it is formed. This will either outline the change from the original name to the brand name or how you will go about building up and setting up your business. This plan will have to be detailed enough to tell what is happening, but it will also have to be flexible enough to compensate for any situations that arise, because they probably will.
The other part of what your franchise business plan will include what you are spending your money on. This will be a list of the expenses that you have and how much each of them will cost you. This will keep you prepared for what is going on in your business and where the money is going. It will also give the loan officer something to look at in order to decide on the loan that you are requesting.
When you decide to franchise your business, or to buy a franchise brand, then you have to have a plan to do it. You need to devise an accurate and flexible franchise business plan. This plan will help you along the way when you try to get funding as well as when you are acting out the plan so you know what to do during every step of the process.
Michael Force is a franchise business expert who has averaged over 7-figures a year online for the last 10 years and has trained tens of thousands on how to create profitable online businesses.