My Website (URL) https://www.jmakoetla.com/ Business Plan Information Helps Business Owners To Grow Their Businesses

 

Business Plan Information

Alternate Names:

A Business Plan is also known as a:

• Business Proposal
• Marketing Plan
• Business Strategy
• Marketing Strategy
• Sales Plan

What is a Business Plan?

A Business Plan is a written document that outlines a company's goals and how it plans to achieve them. It also encompasses several other aspects of a company's future agenda and can serve as a tool for internal decision-making or as a business proposal to pitch to potential investors.

Who needs a Business Plan?

Those who are starting a business or who have an existing business, including sole proprietors, general partners, limited liability company (LLC) members, and even corporations, should have a Business Plan to map out their strategies and goals for their company.

When should I use a Business Plan?

A Business Plan is essentially a tool for planning and education. It can be used to build the framework for your new or existing enterprise, and to set goals for your business.

It can also be used by your startup as a way to present your ideas, sales projections, and plans for achieving your objectives to potential investors for funding purposes.

Ultimately, whether you plan to launch a company, transition from being a freelancer to a small business owner, or wish to recreate, improve, and organize your current business, a Business Plan is a helpful document for steering your business forward and informing others of your plans.

What is included in a Business Plan?

While a Business Plan may vary in how it is organized, it can include:

Executive Summary: This portion of the plan summarizes your company. It can include an overview of your company's management structure, a description of your product/service, your goals, and a summary of your finances and marketing strategy.

Business Description and Mission Statement: This is a brief rundown of your business's history, ownership, and its mission or vision statement.

Product or Service: Here you can include a breakdown of what your product or service is, its unique features, any patents you may have, as well as any future products you want to develop.

Marketing Strategy: Your marketing strategy is how you plan to get your product or service in front of customers. This is where you can include your ideas for promotion (online/traditional methods), as well as how you physically plan to sell your product or service (brick-and-mortar, ecommerce, etc.)

Competitors Analysis: This section describes your competition and how you intend to compete against their current strategies.

SWOT: SWOT is an acronym for "Strengths, Weaknesses, Opportunities, Threats." A SWOT analysis evaluates these specific aspects of your business.

Operations Overview: An operations overview provides a glimpse into the daily operations of your business, including the management and staffing structure, human resources plan, your physical operational facility, and your production methods, such as quotas or manufacturing details.

Financial Plan: Your financial plan may include your company's income (profit and loss) statements. It can also encompass your capital requirements if you are pitching your ideas to investors. In that case, you may describe the investment amount you require and how you plan to repay this capital in a repayment plan.

How do I write a Business Plan?

There are many tools available to help you write a Business Plan, including LawDepot's online Business Plan template, which guides you through the process, and allows you to customize a document specifically to your business's needs.

How long should a Business Plan be?

The length of your Business Plan depends on the size of your company, and how you intend to use your plan. It can be as simple or as comprehensive as you would like.

The more you put into it, the more your business may derive use from it because there is a clear strategy laid out for you to follow.

If you intend to use your plan as a business proposal to enlist investor funding, it is recommended that you have a more concise and detailed plan.

How often should I update my Business Plan?

Your Business Plan should be a working document that you consistently refer to and periodically revise as your situation changes. Whether this is once a year or every quarter, it's important to adjust your plan as necessary so it always reflects your business's current and future direction.

Updating your plan keeps your company and employees focused on the same goals, and may even enliven your business as you hit milestones, and work towards achieving new ones.

Related Documents:

• Partnership Agreement: a document used by general business partners to set the terms of their working relationship
• LLC Operating Agreement: an agreement used by LLC members to map out company rules and the rights and responsibilities of its members
• Articles of Incorporation: a document that is filed with the government to form a corporation
• Purchase of Business Agreement: a contract where an individual or corporate party purchases all assets or shares of a company

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A company profile is a professional summary of the business and its activities. You need a company profile if you want to raise capital and win investors, but you can also use it to inform other stakeholders, including clients.

You will find many variations and lengths for a company profile. Some businesses may not have grown enough yet and have profiles that are just two pages long. On the other hand, some might include awards, certifications, and a large client portfolio, topping out at 30 pages.

The bottom line with both situations, as well as those in between, is that a company profile is your business’s time to shine.

WHAT TO INCLUDE IN YOUR COMPANY PROFILE

Do your best to comprise a well-written document so that it is clear, concise, and correct. Check your spelling and grammar, look for typos, and be sure to read it several times. 

The Business Details

When you begin, gather the details listed below. These items should appear at the beginning of your company profile. Keep them accurate and up-to-date.

• Company name
• Established date
• Physical address per location
• Phone and fax numbers
• Website URL
• Email address

The Company Basics

These items will vary depending on your business type. So, just keep in mind that they may not all apply to your company, but you should include those that do.

• Description of the business including the mission and/or vision
• Product descriptions
• Description of services
• History, expansion, and growth
• Public relations
• Advertising
• Industry information
• Safety, health, and environmental policies
• Core team details
• Client portfolio

• The Highlights

  The next set of items also will not apply to every company. These are some of the types of notable achievements and accomplishments that you should include.

  • Awards
  • Certifications
  • Special programs and projects
  • Testimonials
  • News or media recognition

  Optional Items

  You may see the following items in other company profiles or within the samples and templates below. If you feel that any of these is noteworthy for your business, then you should include them.

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  • Annual sales
  • Financial targets
  • Number of employees
  • Partners
  • Photographs

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When is this corona-virus going to stop?
The world economy is shattered and Gone FOREVER.
It will never come back as it specifically was, and in its place generally tougher, more demanding market  will emerge.

Consumers will have the POWER, ordinary products and services won't be tolerated, money will be spent with caution, sellers will be scrutinized, and business will be earned not given. Let me put it another way: all companies go bankrupt. It's a matter of time.
Want proof?

Out of the 100 largest companies of 50 years ago, 17 survive today. And none of those 17 are the market leaders they used to be. This is not going to be the economy we once knew. We have the stories about stocks crushing, jobs dying and foreclosures breeding like rabbits.
Yes indeed, the world is changing and the future is critical.

Now we need entrepreneurs more than ever.

Better Public Speaking

Better Public Speaking

Presentations and public speaking, although daunting, can be a very enjoyable, rewarding experience, once adequate time is taken to prepare and rehearse them. An enthusiastic speaker who is confident with their material will make a lasting memorable impression on their audience.

Think of the last really memorable talk or presentation that you attended. Now, was that easy to do, or did you really have to rack your brains to remember one? Sadly, too many presentations are easy to forget. And that’s a big problem because the only reason the presenter gave the talk was to communicate something to you.

However, there are four basic things that you can do to ensure that your verbal messages are understood - and remembered - time and time again.

Although somewhat obvious and deceptively simple, these are:

Understand the purpose of the presentation
Keep the message clear and concise
Be prepared
Be vivid when delivering the message

Understand what you want to achieve:

Before you start working on your talk or presentation, it’s essential that you really understand what you want to say, who you want to tell and why they might want to listen. To do this, ask yourself: Who? What? How? When? Where? Why?

Who are you speaking to? What are their interests, beliefs and values? What do they share in common with others; how are they unique?

What message do you wish to convey? One way of answering this question is to ask yourself about the ‘success criteria’. How do you know if and when you have successfully communicated what you have in mind?

How can you best put across your message? Language is most important here, as are non verbal cues such as body language and expressions. Choose your words and non verbal cues while keeping your audience in mind. Plan a beginning, middle and end. If time and place allow, consider and prepare audio-visual aids.

When? Timing is important here. Develop a sense of timing, so that your contributions are seen and heard as relevant to the issue or matter at hand. There is a time to speak and a time to be silent.

Where? What is the physical context of the communication in mind? You may have time to visit the venue, for example, and rearrange the furniture. Check for availability and visibility if you are using audio or visual aids.

Why? In order to convert hearers into listeners, you need to know why they should listen to you – and tell them if necessary.

The Importance of Simplicity:

When it comes to wording your message, less is more. You’re giving your audience headlines, too much information will overload and bore your listeners.. They are not expecting to become experts on the subject as a result of hearing your presentation, therefore simplicity is best.

If you’re using slides, limit the content of each one to a few bullet points, a single statement or a very simple diagram.

Preparation:

Failing to prepare is preparing to fail. In fact, it is the most important factor in determining your communication successes. When possible, set meeting times and speaking and presentation times well in advance, thus allowing yourself the time you need to prepare your communications. Each minute of a presentation deserves thirty minutes preparation.

Of course, not all communications can be scheduled. In this case, preparation may mean having a good, thorough understanding of the office goings-on, enabling you to communicate with the knowledge you need to be effective, both through verbal and written communications

Successful Delivery:

The manner in which you deliver your speech or presentation has a lasting impact on your audience. Again, preparation is paramount here, in order to hold the listeners attention. Some useful tips for keeping your presentation vivid include:

Use examples to bring your points to life
Keep your body language up-beat - don’t stay stuck behind a rostrum
Don’t talk to fast. Less is more here too. Pauses are effective.
Use a variety of tones of voice
Use visual aids.

Presentations and public speaking, although daunting, can be a very enjoyable, rewarding experience, once adequate time is taken to prepare and rehearse them. An enthusiastic speaker who is confident with their material will make a lasting memorable impression on their audience. Here’s information for you!