Matrix

I plan on opening a business in my town, I have a business plan, but I would like to know what mistakes to avoid when I present my business plan to city council.

this is a new one on me. Maybe you have a unique town.

Reason for my befuddlement; the city counsel has certain
rights and obligations; to set zoning ordinances so that
auto manufacturers are not located next to hospitals, etc.

or houses next to chemical plants.

City hall issues business licenses. AFTER you have
made sure your business is applicable for x type of zoning,
[determined by city hall or city planning], you fill out an
app for the biz license and rent your space.

UNLESS you are seeking special tax abatements, grants,
etc., i would not understand why any city counsel wants to
see your biz plan –or perhaps more important–what their
right is to see it.

YOU would want it to be in great "condition" to borrow money
from your bank–or to use to hire a top notch employee or
officer but I would not take it to CC or visit them at all.
[or your CC has such an ordinance that requires one to
issue you a biz license. IF so, please let me know who
they are.....]

been a biz consultant for 40 yrs and am still learning!

Hello everyone,

I need to do a Business plan for my new job as a real estate agent. Does anyone have any advice, suggestions or ideas on how to do a business plan for a real estate agent?I am clueless on how to begin.

Thank you

Look at your local small business government websites. They have sample business plans you can use.

Regards,
Satar Naghshineh

I want to start a dog clothes business out of my home – not open a store. I was wondering what the first steps should be – described in the easiest terms possible. This is something that I really want to do but don’t know where to start. Can you please help direct me?
How do I create a business plan to give to the banks when I go to apply for a loan?

Hello,

Great post. The most important part of business is advertising. This makes or breaks a business. Some of the best ways to advertise I’ve found are:

1. Offline promoting (business cards, flyers, newspaper and other print advertising).
2. Online promoting (buying banner ads, forum posts, email auto replies).

The best method that’s worked for me so far is handing out business cards. I don’t do this in the usual way…. I buy them in bulk from a place online (they give the cards for free, I just paid shipping and handling…they also give a really nice free business card holder, it looks impressive). They’re really high quality. I just put all of the info about my business on the cards, and I hand them out on cars at bus stations, malls, etc. It’s worked out really, really well for me, and it’s completely inexpensive =)

http://www.cards-free-to-my-biz.info

Good Luck with your business!

I will be starting a small custom apperal and accessory business. I won’t be needing loans or investors. I will be purchasing cards and conducting consultations. I also expect income tax for losses, but is a long wordy plan necessary?

Not, it is not. However a plan would be great so you know where you are headed and can track your progress to make sure you are on track.

Jason
http://www.auctionarena.com

I am writing a business plan to open a new marina. I have been to S.C.O.R.E. and I am having a difficult time with market research and what the expectations of a business plan really are.

As a computer business consultant, I have had the privilege of helping quite a few online companies go through the business plan phase of start up. I recommend this software package from Palo Alto as it does a great job for a do it yourself-er. It has 500 templates to choose from.

They even have state and county wide market research on marinas in your area. http://www.paloalto.com/market_research/?affiliate=sequimpc

I am making the assumption that if you are going to put out the money to open a marina, $300 is within your budget.

TOP TEN DO’S

1. Prepare a complete business plan for any business you are considering.
2. Use the business plan templates furnished in each session.
3. Complete sections of your business plan as you proceed through the course.
4. Research (use search engines) to find business plans that are available on the Internet.
5. Package your business plan in an attractive kit as a selling tool.
6. Submit your business plan to experts in your intended business for their advice.
7. Spell out your strategies on how you intend to handle adversities.
8. Spell out the strengths and weaknesses of your management team.
9. Include a monthly one-year cash flow projection.
10. Freely and frequently modify your business plans to account for changing conditions.

TOP TEN DON’TS

1. Be optimistic (on the high side) in estimating future sales.
2. Be optimistic (on the low side) in estimating future costs.
3. Disregard or discount weaknesses in your plan. Spell them out.
4. Stress long-term projections. Better to focus on projections for your first year.
5. Depend entirely on the uniqueness of your business or the success of an invention.
6. Project yourself as someone you’re not. Be brutally realistic.
7. Be everything to everybody. Highly focused specialists usually do best.
8. Proceed without adequate financial and accounting know-how.
9. Base your business plan on a wonderful concept. Test it first.
10. Skip the step of preparing a business plan before starting.

I am a start-up business baking pastries and cakes in my home. I have seen sample business plans and my business does not have a projected revenue yet. I am told by others write a business plan. All of the plans I have seen have large financial projections.

You will need a business plan if you will use it to:

- Support a loan application
- Raise equity funding
- Define objectives and describe programs to achieve those objectives
- Create a regular business review and course correction process
- Define a new business
- Define agreements between partners
- Set a value on a business for sale or legal purposes
- Evaluate a new product line, promotion, or expansion

You will get a lot of advice that a business plan is needed.

However, what you need is the process that a business plan entails — that is, the process of thinking through the business.
It will help if you follow the outline of a business plan — e.g. defining your business, determining your unique selling proposition, identifying your target market, determining how you will market the business, knowing how much you need to launch the business successfully.

If you will not use it to apply for a loan or find an investor, you need not write your business plan.

There was an article from the Wall Street Journal that questioned whether a startup really needs to write a business plan and this is one of the studies they found http://startup.wsj.com/columnists/enterprise/20070110-spors.html

————————————–
A study recently released by Babson College analyzed 116 businesses started by alumni who graduated between 1985 and 2003. Comparing success measures such as annual revenue, employee numbers and net income, the study found no statistical difference in success between those businesses started with formal written plans and those without them. The study concludes that "unless you need to raise external start-up capital from institutional sources or business angels, you do not need to write a formal business plan."
————————————–

You don’t need a written formal business plan to succeed. However, you need to understand your business and know how to navigate the market in order to succeed

I am applying for a relationship manager position for private banking at a suiss bank, the position requires to bring a high network clients portfolio from central and south america.
After a couple of interviews i have been asked to submit a business plan. Is there a standard form of doing it right?
Any suggestion will be much appreciated,
Thank you very much

I hope they’re not trying to steal YOUR ideas for free. That would suck. Leave them wanting more by giving them teasers. Give 3 or 4 good ideas but them you’re saving your creme de la creme ideas until after you sign with them.

I write a business plan for an already established business in my bid to procure financing for its purchase. I am 24 year old university graduate, and I dream of owning my own business. Please help me out, if you can. Thank you in advance.

Before you dream, please hear me out. Do a business valuation to make sure the business is worth what you are going to pay. There is no easy way to value a business, please consult professionals to do a due diligence to make sure the business has potential in the future.

The business plan or in your case a marketing Plan consists of a narrative and several financial worksheets. The narrative template is the body of the plan.
The real value of creating a business or marketing plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.
This business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances.
You will be judged by the quality and appearance of your work as well as by your ideas.

Good luck, do not under estimate the advantages of professional help, especially in the beginning, but finance institutions also like to see some of your own input in the presentation.

I would like to open up a bar for myself. Its a dream I’ve had for years and now that I’m 22 its time to get started. What steps am I going to have to take to realise exactly what has to be done and what is necessary to impress future investors or bankers?

The more detail the better, but I just do not know much about the industry.

So a layout of everything I need to have in a business plan is essential for answering this question.

https://www.goodtogobizplans.com/shoppingcart.asp

These people write business plans for alot of industries. The one above on the link is for a bar. It costs $195.00 which really isn’t bad, you would spend that in time and energy writing it yourself.

http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_WRRITINGBUSPLAN.html

http://www.bplans.com/Sample_Business_Plans/Bar_and_Nightclub_Business_Plans/Bar_and_Tavern_Business_Plan/executive_summary_fc.cfm
http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html

Lots of good free information from the Small Business Administration and they have a thing called SCORE, which is a bunch of retired people that are former business professionals and government officials that will help you for free with your business plan and business planning. You have to know a little something about estimating and accounting because you have to gather the costs of all the equipment and things you will need to start up the bar and then you will have to project your future income too. Good luck. Also, check with the Department of Commerce to see if they have any business grants available. The Small Business Administration has small business loans available through your local major banks so ask the people at SCORE about that too.

Starting a business. Banks need a business plan in order to get a business loan. What is all needed in a business plan?

Go to http://sba.gov , http://score.org or http://bplan.com for sample business plans and instructions on how to write a business plan.