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Business Planning Demystified

Your company's business plan is a key document for both planning and funding purposes. Get actionable advice on how to write and refine your plan.
Latest Posts

Baby, Bathwater, and Business Planning
January 13, 2010, 5:40 PM
Which is better: aiming at something from a great distance and committing to that without flexibility; or setting a general direction and moving towards it in smaller flexible increments? The second is better. Of course. The first is like the ...

Develop Your Business Not Just Your Business Plan
November 23, 2009, 3:50 PM
I’m still long-term frustrated with how many people lose the potential steering and management benefits of business planning because they focus on the plan as document instead of the planning as management. With that in mind, and in honor of ...

Do You Need a Business Plan (Interview)
November 06, 2009, 12:05 PM
A 12-question interview on the latest in business planning, including why you need a business plan and why that's much easier than you think.

Kelle Olwyler Dispelling Myths of Small Business Planning
October 09, 2009, 10:50 AM
A good radio interview by Jim Blasingame, interviewing Kelle Olwyler, on the myths of business planning.

Two Planning Posts You Should Read
October 05, 2009, 5:25 PM
Recommending two good posts on two important elements of business planning. The first talks about increasing accountability in a business, and the second about how planning can make the difference between success and failure.

Looking for That Master List of Startup Expenses
September 06, 2009, 4:35 PM
Answering a reader's question about where to find a master list of startup expenses for a specific business plan. No, there is no list, it depends on what you want, where you are, what resources you have, and your strategy ...

New Business Pitch Site Opens Up
August 28, 2009, 1:05 PM
There's a new business pitch site at pitch.bplans.com that gives you a place to put your business summary and video pitch for free. No promise of investors looking at it, but tips, comments, and a dedicated URL can help your ...

Why Cash Flow Is Like a River
August 24, 2009, 10:30 AM
A 5-minute video looking at details of cash flow for small business, why you want to plan your cash flow, and why cash flow is like a river.

Business Plan Simplifying Assumptions
August 21, 2009, 12:00 PM
Why simplifying assumptions in a business plan? It has do to with diminishing return on effort, not trying to model reality three years into the future in full detail. It's planning, not accounting, and particularly not accounting detail imagined in ...

5 Dangerous Myths of Business Planning
August 13, 2009, 6:10 PM
I posted 5 Dangerous Myths of Business Planning yesterday on the Industry Word blog on the new business.gov community site.



Latest Comments in Business Planning Demystified posts

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By: jim on 1/22/10 at 3:28 PM
Baby, Bathwater, and Business Planning
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By: wire2air on 12/16/09 at 7:12 AM
3 Parts of the Heart of Your Plan
yes, business development has been an important part of any company, what you said is exactly true. I would like to add one thing here, if you are planning to increase your product sales then you should think for mobile marketing, this is the new technology for advertisement with this latest technology you can ad your products and services through your mobile phone and you will get to know about their response instantly............

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By: txtimpact on 12/16/09 at 7:05 AM
Develop Your Business Not Just Your Business Plan
I agree 100 percent. A business should be more for your own business uses and goals than any outside parties or investors. Writing a business plan forces you to constantly make plans. After all, like they say, those that fail to plan, plan to fail!
By: MJ Gottlieb on 11/21/09 at 2:20 PM
Do You Need a Business Plan (Interview)
As a business writer, the successful entrepreneurs that I have interviewed over the years have told me that when it comes to business start up costs, Murphy's Law applies. Now the original Murphy is supposed to have stated that "anything that can go wrong will go wrong and at the worst possible time." The business start up corollary to that is "any start up will cost more than anticipated and take longer to generate revenue than planned."

The long and the short of it is to carefully work up a budget and include all possible costs associated with the start up and your anticipated time to generate adequate revenue to cover expenses. Then add a 50% premium to both numbers.
Can you live with that? Can you survive?

You may get very lucky and begin generating big bucks on Day One but you probably won't.

One contractor we know maintains a reserve large enough to keep his business running for two and a half years. That's from a long experienced business person with 40 years in the business.

The bottom line is that when you figure out all of your expenses, find areas where you can substantially cut costs. Do you need to sign the expensive office lease right now and hire a secretary? Could you instead work out of your home and contract with a business center for a virtual office that will supply you with secretarial help and real offices as you need them. That also saves investing in expensive furniture and office equipment.
There are numerous ways to cut coss and cut them you should even after the business is thriving.

Ron D

http://www.start-a-business-faq.com

...
By: Ron Derven on 9/9/09 at 11:21 PM
Looking for That Master List of Startup Expenses

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