Business
Plans
Do
you need a well-written, comprehensive business plan?
Much
hinges on it: outside funding, credit from suppliers, management of your
operation and finances, promotion and marketing of your business, and achievement
of your goals and objectives.
A
sound business plan does more than just instill confidence in potential
investors. It’s a road map you can use to get and stay in the fast
lane to business success. The business plan has two functions: the bank
or whichever financial institution you intend to approach for investment
will require it; and it will be a vital strategic planning tool for your
own use. Large businesses recognize that they must have a planning strategy,
both for the short and the long term. Small businesses need them too. Financiers
and business now regard a thorough and coherent business plan as an essential
sign of business maturity.
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Business
Plan for New Enterprises (Start-Up's)
A formal business plan forces the new business owner to think
through the key elements necessary to start and run a business (i.e.
financial aspects, sales requirements, etc.) and to build and service
a client base (i.e. manpower needs, systems, etc.).
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Turnaround
Business Plan for a troubled business
Most
businesses encounter some rough spots now and then. Saving and rebuilding
a troubled business and to prevent a bankruptcy filing requires that
you identify the root cause of the problem and put together new business,
sales/marketing and operation plans. It is important to involve investors
and employees in the development of these plans. Ask for their input.
Meet with key customers and vendors to inform them of the situation
and how you plan to correct it.
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Business
Plan to rejuvenate the mature business (when growth stops) >>
More
Established businesses today have a hard task maintaining sustainable
growth and all are concerned that yesterday's engines of wealth creation
may fail and in effect reverse their prosperity. Converting a mature
organization into one that is dynamic and capable of delivering innovative
strategy requires the ability to initiate radical change in both strategy
and organizational capability. However, change is sometimes painful,
slow and immensely difficult. Effective rejuvenation is from within:
management must learn to act and think differently. They must believe
there is potential for change, new ways of operating, and new strategies;
that to create better profits a firm must give better service to customers
and better value to its staff.
