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Serious about writing business plans

Serious about writing business plans

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Published by masem123
If you fail to plan, you plan to fail. Map your road to success.... get great insight on what constitutes and effective business plan. Learn how to develop a strategic business plan that is guaranteed to get the attention of potential investors, business partners and other stakeholders. http://www.business-plan.co.za
If you fail to plan, you plan to fail. Map your road to success.... get great insight on what constitutes and effective business plan. Learn how to develop a strategic business plan that is guaranteed to get the attention of potential investors, business partners and other stakeholders. http://www.business-plan.co.za

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Published by: masem123 on Jan 29, 2012
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 ==== ====Great insight on strategic business plan development and entrepreneurship. Access business plantemplates, business plan examples, business plan videos and much more.www.business-plan.co.za ==== ====Tap these treasures of ideas. The best money you can spendis money invested in your business plan education. Don'tshortchange yourself when it comes to investing in yourdream. Start gathering samples of business plans and collectbusiness plan books and get a business plan library started,it can change your future. Here's what your library needs toshow: that you're a serious student of business strategy andplanning, finance and economics, selling, and writing. Sample Business Plans Start by gathering sample business plans. Look at the annualreports and S-1s, S-4s, 10ks, or 10Qs filed with theSecurities and Exchange Commission (SEC) of companies inyour industry. See how they present their case, explaintheir business, and discuss their industry and competition. What exactly are these forms and how do you get them? Goodquestion. These are forms that public companies must file with the SECin order to register their securities or to maintain the registrationof previously registered securities with the SEC. You can findthese forms by going to http://www.sec.gov, clicking on the Edgardatabase, and searching for a public company in your industry. The key is to find the most helpful filings. These are the oneslabeled S-1, S-4, 10K, and 10Q. They usually containdescriptions of the business, its products, industry, competitorsand strategies. Sections that should sound familiar to you if youare planning to write a business plan. Go to these sections and read how the company presents theirbusiness and its products. Look at how they describe the industryand their competitors. I encourage you to read as many filings inyour industry as possible. See what the "big guys" are saying, theissues, challenges, and trends they see in the industry and howthey're attacking them.
 Be careful though about mimicking what they write. Many of thesedocuments are written in legalese despite the SEC's protestationsand push for plain English. Just remember, you're doing thisexercise to see how other companies have built their case tobusiness investors. Another approach is to gather and read professionallywritten business plans of companies in your industry and usethem as guides to prepare your plan. Try to avoid genericbusiness plan templates. They're too general and often notworth the investment. Either way. Start filling yourbusiness plan library with business plans and registrationstatements. Keep them close by and refer to them often asyou write your business plan. Strategy Now, here's a good book to start your business plan librarywith. It's called: Competitive Strategy by Michael Porter.In this landmark book, Competitive Strategy, Porter showsyou how to identify the forces that drive competition inyour industry. Learn what moves your competitors are likelyto make within it. Competitive Strategy provides a frameworkfor evaluating the competitive alternatives you mustconsider and for thinking about how to change the rules ofthe marketplace in your favor. Competitive Strategy is thebible venture capitalist, investment bankers, and businessdevelopment executives use when analyzing an industry orbusiness venture. I use this book as the centerpiece of mybusiness plan library. So I'm just asking you to take a lookat Competitive Strategy by Michael Porter. If it suits youfine, if it doesn't suit you, keep looking till you findsomething that helps you understand strategy. Opening your mind to strategic alternatives is a creativeprocess. You can never have too many books on strategy inyour business plan library. Read as much as you can to learnwhy some companies can sell their products more cheaply thanothers. Why others provide the best products...products thatare just far superior to their competition. And, why somecompanies just always seem to provide unmatched service. Fill your business plan library with business books thatinspire, challenge and answer these questions. Read. Read.Read. And, study too. Find out how some companies arereinventing competition in their markets and obtainingfunding while others are seemingly oblivious to the changing
world around them. Michael Treacy and Fred Wiersema set out to find answers tothese types of questions in their book The Discipline ofMarket Leaders. Although the authors won't appreciate thiscomment, I found the underlying fundamentals in TheDiscipline of Market Leaders to closely parallel those laidout by Porter in Competitive Strategy. Perhaps that's why Ilike it so much. The difference, however, is that theypresent their material in a less academic, more engagingway. And, they provide excellent case studies that are sureto generate many aha's! The Discipline of Market Leaderswill make you think about what it is your company or newventure does better than anyone else; what unique value doyou provide to your customers? How will you continuallyincrease that value? If you can't easily answer thesequestions about your business, The Discipline of MarketLeaders is required reading and a must for your businessplan library. The business owners and entrepreneurs that cananswer these questions are not only raising the value bar intheir industries, they're raising capital for theirbusinesses! Finance and Economics Be sure to keep your business plan library well balanced... Let me give you a sense of that balance. First is financeand economics. We all have got to have a sense of how tomake money...the universal laws of business success, nomatter whether you are selling fruit from a stand or runninga Fortune 500 company. Finance and economics are the basicbuilding blocks of business. Your business plan libraryneeds a few books on the numbers. When you understand thebasics of finance and economics its possible to bringing themost complex business down to the fundamentals. You becomeempowered to focus on the basics and make money from yourventure. Here's a good book to help you in this area: What the CEOWants You to Know by Ram Charan. What the CEO Wants You toKnow captures the basics of finance and economics andexplains in clear, simple language how to do what greatbusiness owners and entrepreneurs do instinctively andpersistently. Charan explains the basic building blocks ofbusiness and how to use them to figure out how your companycan, does, or will make money and operate as a totalbusiness. Learn how to use these building blocks to cut

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