Your Blueprint For Business Success
Your Blueprint For Business Success
The day-to-day details and problems of running a business will often take your mind away from the prime thrust of your business. This can and should in most cases be eliminated by regularly reviewing your business plan.
Here is what your business plan should include:
* It should describe your business name, location, product or service, market, and competition.
* It should state your business goals. This is where you really learn exactly why you are in business.
* It should analyze the market, identify industry trends, and specifically define your target market.
* It should describe your product line and compare your products and/or services with those of your competition.
* It should state your marketing strategy for both creative materials and the type of media you're going to use.
* It should specify your pricing policy, methods of selling, distributing, and servicing.
Your business plan also deals with many financial matters, such as how much capital is required, how it will be repaid and how funds will be used. It also shows your earning projections and return to investors. Finally, it describes your management plan and includes resumes of your key personnel, an operating plan, and a schedule of upcoming work for the next one to three years.
Key business ratios should also be a part of your business plan. And those financial projections I mentioned above should cover five years. Your first year should be monthly and each of the remaining four years should be quarterly. This means detailing the profit and loss statements, balance sheets, cash flow charts, and capital expenditure estimates.
Your business plan serves a dual purpose. It proves to lending institutions and potential investors that a loan to you would be good business. And it helps you and your management staff keep your eyes on your original target, but only if you review it periodically each year. Your business plan is a valuable part of your business. Use it to stay on track because it is your blueprint for success.
Copyright© 2004 by Joe Love and JLM & Associates, Inc. All rights reserved worldwide.
Joe Love draws on his 25 years of experience helping both individuals and companies build their businesses, increase profits, and achieve total success. He is the founder and CEO of JLM & Associates, a consulting and training organization, specializing in personal and business development. Through his seminars and lectures, Joe Love addresses thousands of men and women each year, including the executives and staffs of many businesses around the world on the subjects of leadership, achievement, goals, strategic business planning, and marketing.
Joe can be reached at: joe@jlmandassociates.com
Read more articles and newsletters at: http://www.jlmandassociates.com/
Your Blueprint For Business Success - To learn more about this author, visit Joe Love's Website.
Like this article? Share it with your friends
Before you start your own business one of the first things you need to do is draw up your business plan. This is your blueprint for success. Your business plan states the purpose of your business. It never ceases to amaze me that so few businesses have any type of written business plan. Because without one, you have very little, if any, chance of success.
The day-to-day details and problems of running a business will often take your mind away from the prime thrust of your business. This can and should in most cases be eliminated by regularly reviewing your business plan.
Here is what your business plan should include:
* It should describe your business name, location, product or service, market, and competition.
* It should state your business goals. This is where you really learn exactly why you are in business.
* It should analyze the market, identify industry trends, and specifically define your target market.
* It should describe your product line and compare your products and/or services with those of your competition.
* It should state your marketing strategy for both creative materials and the type of media you're going to use.
* It should specify your pricing policy, methods of selling, distributing, and servicing.
Your business plan also deals with many financial matters, such as how much capital is required, how it will be repaid and how funds will be used. It also shows your earning projections and return to investors. Finally, it describes your management plan and includes resumes of your key personnel, an operating plan, and a schedule of upcoming work for the next one to three years.
Key business ratios should also be a part of your business plan. And those financial projections I mentioned above should cover five years. Your first year should be monthly and each of the remaining four years should be quarterly. This means detailing the profit and loss statements, balance sheets, cash flow charts, and capital expenditure estimates.
Your business plan serves a dual purpose. It proves to lending institutions and potential investors that a loan to you would be good business. And it helps you and your management staff keep your eyes on your original target, but only if you review it periodically each year. Your business plan is a valuable part of your business. Use it to stay on track because it is your blueprint for success.
Copyright© 2004 by Joe Love and JLM & Associates, Inc. All rights reserved worldwide.
Joe Love draws on his 25 years of experience helping both individuals and companies build their businesses, increase profits, and achieve total success. He is the founder and CEO of JLM & Associates, a consulting and training organization, specializing in personal and business development. Through his seminars and lectures, Joe Love addresses thousands of men and women each year, including the executives and staffs of many businesses around the world on the subjects of leadership, achievement, goals, strategic business planning, and marketing.
Joe can be reached at: joe@jlmandassociates.com
Read more articles and newsletters at: http://www.jlmandassociates.com/
Your Blueprint For Business Success - To learn more about this author, visit Joe Love's Website.
Like this article? Share it with your friends
| |||
 |
No article feedback found. | ||
|
Leave Your Feedback | ||
|
|||
 What’s YOUR Sustainability Blueprint?
| |||
| How to authentically take inventory of your business from a sustainability standpoint and using it to better promote your business.
This article explains the importance of authentic sustainability practices, not ... |
|||
|
Why Do You Want More Money?
| |||
| Really, why do you?
And how much?
A great majority of people don’t seem to have the answers to these questions. And if you can’t answer these questions, then don’t expect to earn more money. Why? Beca... |
|||
|
CHANGE YOUR RELATIONSHIP TO MONEY FOREVER!
| |||
 Most of us were never taught how to win the money game and if we were, most likely we were taught by people who weren’t very good at it. – T. Harv Eker |
|||
|
Smart Women Know How to Work the Puzzle
| |||
| This article is about taking quiet time for reflection about what we want our life to look like moving forward. A woman’s life is a bit like a puzzle with many pieces that weave together to create a meaningful life... |
|||
|
Staying Ahead of your CompetitionThe Green way
| |||
| Things here in NYC are crazy with corporations and entrepreneurs trying to figure out how to catch the green wave.
And if you’re in doubt whether there is some serious potential in business in this area, just spe... |
|||
| |||
Dianne CramptonDianne Crampton is an executive leadership coach, team consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. - Visit Dianne Crampton's Website |
|||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) Jay Kubassek is a Canadian born entrepreneur, internet marketing genius, professional speaker, international real estate developer/investor, executive film producer, extreme sport enthusiast and a passionate supporter of several charities worldwide. In 2007, Jay's vision and dedication to help other entrepreneurs and business owners duplicate his marketing success led to the creation of his fourth company CarbonCopyPRO, an internet marketing firm already worth over 15 million dollars that has over 20 employees and contract workers with clients is 12 different countries. Jay resides in NYC with his girlfriend Jamie, three year old son Milo and dog Cooper. As executive producer he recently premiered his first film in the 2008 Cannes Film Festival. As an adventurist he is racing the 2008 Baja 1000 off-road race and is a member of the 2008 U.S. National Elephant Polo Team, The New York Blue who will be representing the US in the 2008 World Championships in Nepal. Visit Jay's Blog: www.JayKubassek.com - Visit Jay Kubassek's Website |
|||
Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. - Visit Jeff Foster's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
 Joe Love (Visit Joe's Website) Joe Love draws on his 25 years of experience helping both individuals and companies build their businesses, increase profits, and achieve total success. He is the founder and CEO of JLM & Associates, a consulting and training organization, specializing in personal and business development. Through his seminars and lectures, Joe Love addresses thousands of men and women each year, including the executives and staffs of many businesses around the world on the subjects of leadership, achievement, goals, strategic business planning, and marketing.
|  |
 |
|
|
 |
|
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
 |
 | ||
|
||
 |
||
|
||
|
| ||
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 |
 Fitness Sales Success Boomers & Zoomers New Year Revolutions Instant Classified Advertising Benefit From Analytics |
|
 | ||
 |
Top 50 Diversion Blogs
Top Diversion Blogs of 2008 | |
 |
Top 50 Political Blogs
Top Political Blogs of 2008 | |
| ||
 |
|
|
|
|
|||||||||||||||||||||
 |
|
|
||||||||||||
