13-FOCUS

Lets take a look at how far we have come.  Right now you should have a cover page as described in example 1, but with your personal information inserted, and your Table of Contents should resemble example 2.

Example 3 is the business plan containing your company information.  You may want to complete the Table of Contents and your business plan simultaneously.  In example 2, note that the Executive Summary appears first on the business plan in example 3 from your Table of Contents in example 2.

Note the spacing of your Table of Contents, as well as your business plan  (single space).  So that concludes the Executive Summary, Market Analysis, and the Marketing Strategies.  We can now move on to the Operations Plan which will be IV of your Table of Contents, however; I will allow more time to arrange your business plan to reflect the correct organization and structure as that of your Table of Contents.  For instance: you can’t list Executive Summary as (II) on your business plan if is (I) in the Table of Contents.

Organization and structure is very important for the success of your business plan.  This week we will continue our work into the business plan by including the Operations Plan which may be a little easier for those of you who are selling mainly online through ecommerce as apposed to “brick-and-mortar”.   Thank you for being here, and please reply or leave me a comment, as your feedback is very important.

Tbl of Con Exple 1     Tbl of Con Exple 2    Expl 3 Post 13 B Plan Template Deftnotes © 2013

Deborah Thompson ® July 2015
blogbydeb@outlook.com
http://www.memanera.wordpress.com

Debbie

12-STRATEGIC PLANNING

In post 11 we talked about barriers, and I would like to further those discussions before moving on to the Market Strategies. I feel it is important for us to get a good understand of the barriers that may or may not be present. If you know what your barriers are, you have a better chance at removing some, if not all of them to avoid hitting a brick wall. Not all barriers can be removed, but there are ways to work around some of them without getting into legalities, regulatory issues or financial burdens. I have listed a few ideas to help deter you from heading in the wrong direction.

1: Make sure that you have all the licenses required for your specific business.

2: Don’t borrow more than you need.

3: Find out who your competitors are, then decide what makes you unique.

4: Get statistics on your competitors.

As you have found out; completing a business plan is not a ‘hit-or-miss” project; rather you are going to have to do some strategic planning, and you will have to be precise, and well organized with a certain degree of stamina. You’d be surprised what you can do with a little though, and a couple of hours a day for research. Under normal circumstances it would not take as long as it is going to take here, because I am trying to reach a lot of people. However; a business plan can take anywhere from 2 months to 6 months or more. It all depends on what it is that you want your lender to know. It can be anywhere from 60 pages to 100 pages or more. It all depends on how much information you want to include impressing your lender.

My next post will be on Marketing Strategies which is the next chapter in your Table of Contents for your business plan. Please feel free to make a reply, a comment, suggestion, or a critique at the bottom of each post.

Cite: Deborah Thompson, November 10, 2015

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Deborah Thompson-Memanera ®July, 2015
blogbydeb@outlook.com

11-STAMINA

Today I want to offer some assistance with your Market Analysis; for instance.

1st Yesterday, today and tomorrow: You would study the industry, competitors and customer demographics (so you can choose a target market, then check the target market that you have chosen from Post 7).

2nd Competitive Analysis: Do a thorough study of the population demographics in the market your business will sell in. Then, decide what type of person (target market) will buy your product. There is a lot of talk about the target markets but you will soon understand its redundancies for your business plan to prevail.

3rd Demographic and Target Market: (This should be easy because you have already distinguished your target market as described in post 7, and from the Competitive Analysis above, but this is the order in which to state your case. Does the population demographic in your area match well? Is there enough of this type of client (target market) in your area to have a successful business?

4th Entry Barriers: Are there barriers to entry? There is high entry cost, and high risk cost to get in, but limits the amount of competitors.

These are the things that you should have looked for to complete the market analysis. This is also number II of your “Table of Contents” as number I was the Executive Summary. Tomorrow we will take a look at number III which will be your market strategy.

Plan Template Deftnotes © 2013

This may seem like a lot, but it is important to not get stagnant. Stay on course; looking back on your progression should give you the incentive to continue with vigor. It will all pay off in the long run.

http://www.memanera.wordpress.com