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Make Millions and Make Change

Make Millions and Make Change

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Published by Karen Yakymishen
Make Millions and Make Change! is a practical guide to business Best Practices and strategies to success. Author Mike Mann has written this living document for you to use as your own set of Best Practices with the hope that you will then benefit society by contributing extra time and money to favored causes given your new found success.
Make Millions and Make Change! is a practical guide to business Best Practices and strategies to success. Author Mike Mann has written this living document for you to use as your own set of Best Practices with the hope that you will then benefit society by contributing extra time and money to favored causes given your new found success.

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Published by: Karen Yakymishen on Jul 15, 2008
Copyright:Attribution Non-commercial

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09/28/2012

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Consider many possible future scenarios for each business area of
interest before you actually choose the business that you want to start.
Once you decide what area to assault, the first step is to create a
written business plan. This should be relatively short and simple. Any
pro-forma financial statements (which you will attach to the plan)
should be based on realistic assumptions that are explained in
notations. Take courses in Accounting 101, Excel, and PowerPoint to
get started.

In the initial drafting of this business plan, it is beneficial for you to
identify your audience; decide if it is meant just for you, staff and
management, or potential investors. Also, if you are premature with
your big idea and just need some talking points for background
consultants, rather than writing a full-blown “business plan,” you

Make Millions and Make Change!

36

could instead write a “business model” in a few short pages. If
necessary, you can create multiple versions of your documentation to
meet the interests of various classes of potential stakeholders.

There are standard boilerplate forms for business plans available
online, which are acceptable for simple plans and small investors;
however, larger investors will prefer a thorough and clearly worded
original document with detailed justifications for your assumptions,
something that summarizes specific research that you have done in
your industry.

Investors may want to review and approve of the proposed staff, the
marketplace, the math, and other selected planning items mentioned in
your plans before they agree to invest. This is why a complete business
plan is best when approaching serious investor candidates.

Among other things, your business plan should document the expected
startup costs and the costs to operate the business until it hits a “break-
even” point. This will help reveal the level of financing that you
require.

It is essential to believe in your mission. Merely acting as though you
are a believer is not enough. Do not start a business unless you can put
in the required effort happily and willingly to make your dream a
reality. If you lack enthusiasm and confidence, then you cannot display
those attributes to your potential investors, staff, customers, or the
community at large. Your competitors will intuitively sense your
apathy and take advantage of any weaknesses you reveal before you
get an opportunity to control your fair share of the market.

Make a Winning Plan

37

However, if you have a well written business plan, adequate financing,
boundless energy, and a willingness to make fast changes in a fluid
environment, then congratulations, you have what it takes to be a
business leader!

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