How to Impress Someone in an Interview

If you want to be a truly great, memorable candidate when interviewing for a job, you need to ask some ‘wow’-inducing questions during your interview. Remember, most of the candidates will be asking questions about the role, and you want to make sure you are asking questions that will help you to stand out.  It is important to prepare questions to ask so that you are not caught off-guard during the interview.

‘Wow’ interview questions are ones that are very well-researched, detailed and unique that also show your enthusiasm and work ethic. Employers can get impressed in many ways but showing creativity in your interview will definitely give you brownie points, for example opting for a video interview using your cell phone.  This shows eagerness and an interest in going beyond your day-to-day work. It also shows that you have done research on the company and that you are up-to-date with industry news. The following are way to impress and sign of a good interview: -

Second round of interviews

When the company is calling you for the additional round of meetings then it is a sign that you may be the one of a handful of finalists. Ask a question like “From What You Know About Me so Far, How Well Do You Think I Will Fit into the Team Here?” This is a good opportunity to assess how the interview is going and put your interviewers at ease if they have any doubts.

Selling yourself to the company

Try asking a question like, “How Would You Describe an Ideal Employee?” Here you’ll get an idea as to whether or not you are a good fit for the company. It also shows that you are eager to please and to meet their expectations.

Personal questions

Hiring manager shows interest in your personal life show that they are considering you. However, one thing to remember here is that you do not have to answer all personal questions asked by them.

Smile and positive gestures

Managers used to be friendly during the interview so that the candidate may not get confused. However, if they smile a lot during the interview then it is a good sign.

Extended interview

If the conversation goes on, it shows that the hiring managers are interested to know about you and they are exploring you and your skills.

Compensation 

The things are getting an indicator better and better.

Asked for references

It’s an obvious sign when the employers told you that they are going to check or verify your background and also asks for your references then congratulations, you may have got the job.

Joining dates

Formally, they ask you about the joining dates after complete discussion.

Interview status

When the hiring managers ask you about your interview status with other firms or organizations then it is a good sign that they are showing interest in you. It also indicates that they are not going to miss an individual who can get a call from another firm.

Interviewer behavior

Interviewer behavior and attitude will indicate you about his interest in you if he is listening carefully to you and keep smiling throughout the interview; it is a good sign for you.

These are the indicators, which will assure you that you are going to get the job after your interview. All you have to do is just stay calm and hope for your best future and commitment to your job with dedication and hard work. You should have faith in yourself that you can do whatever comes in your way and you are not inferior to anyone. Many of the companies do verification of the references, which you have delivered to them, and this shows that they are willing to hire you for the job and that’s why they are gathering information and verifying it. The best indicator is that when your interviewer asks you that how you can best be reached.

Ready To Use Professional Business Plan Templates By Createmybusinessplan

If you are still wondering about how to create the best business plans for your business, no matter what business you’re in, Create my business plan is one such solution to all your business plan writing needs, where you will find professionally written templates which in turn will result to be the fastest, easiest way to produce a business plan in the standardized format that serious investors expect.

Would like to know, why should you use createmybusinessplan as the business plan template company among the various choices available, then let me tell you, why createmybusinessplan is the best:
Developed By Professionals Who Know the Business
Don’t worry about leaving out an important section of your business plan. Our Business Plan Template was created by real world investment bankers with a long history of success in raising capital for early stage companies. Everything you’ll need is included in one easy download.
Write Your Winning Business Plan Quickly and Easily
Thousands of small business owners have already discovered how CreateMyBusinessPlan.com can save them time and money. Now it’s your turn! Let us lead you through every step of creating your business plan. Business Plan Success includes everything you’ll need to get started – a professional business plan templates , complete financial templates, a business plan writing software guide, and more!
A sound business plan template will consist of what you want to achieve for your business, what you need to do to succeed and how far you want to go. Your business plan template contains all relevant information about your new business and financial figures should be projected so that all aspects of the business can be looked at. The business plan will serve as a reliable foundation for your business to measure success in the future. When you are creating a business plan it is important that you identify all factors that might affect of your financial projections. Log on to http://www.createmybusinessplan.comand you will see an end to your worries regarding all your business planning needs. Use our free business plan templates to write your own powerful business plan today!

Resource box: Create my business plan is one such solution to all your business plan writing needs, where you will find professionally written templates which in turn will result to be the fastest, easiest way to produce a business plan in the standardized format that serious investors expect. Use our professional business plan templates to write your own powerful business plan today!

Choosing The Right Business Plan Company

Planning is an important organizational process that entails activities to be executed to reach the desired goals. Every organization has a plan for its business goals. Choosing the right business plan company for your organizational goals can be tough. Considering the attributes that make a business plan company workable can lead you to getting a good business plan, the following steps will help you select a good business plan company.

Look out for their methods and process

A good business plan needs ample information, which should be credible and relevant to the field under study. Find out what methods are used by a business plan company for research and data analysis. Before hiring their service, get insights into the steps they follow to create business plans. Experience and efficiency of business plan writer and research experts is also an important factor that decides the quality of business plans. Find a business plan company that has professionals with good writing and editing skills. They should be well-versed in conducting market research for every project they take up.

A good business plan company will normally perform the following steps before finalizing your plan:

1. Assign a business planning team and a project manager on the basis of your requirements and goals.

2. Conduct ample research and collect data relevant to your business plan.

3. Analyze the collected information and figures to add credibility to your plan.

4. Write up the final plan and send it for your review.

5. Revise the plan on the basis of your feedback.

Some good business plan companies also offer sample research reports and business plans to clients. The samples of their work can help you understand a lot about their expertise and hard work. A legitimate business plan company will not promise you a fund-ready business plan. You can, however, surely make informed decisions based on such plans and research reports.

Steer clear of frauds and scams

Business planning frauds and scams are very common these days. You might have seen several work-from-home emails in your inbox or might have received some SMSes regarding perfect business plans. Save yourself from falling prey to such hoaxes. These are nothing but money-making plans of various fraud companies. Many people often get stuck, due to such deceivers, and end up wasting their money and time. Small firms and businesses need to be extra wary of fraudulent business plan offers, which often make fake funding promises. Such frauds often talk you into giving them money for doing nothing. Always check and analyze the price quoted by a business plan company for your desired plan. A price as low as hundred dollars can make you understand if a business plan company is a fraud, or not. Research well before you hire a company for business planning. Look out for ratings given by other clients to its services and read testimonials.

A good business plan company will follow your instructions and prepare bespoke business plans for every single goal you have.

Why Hire A Professional Business Plan Service:

Writing a business plan is a time consuming and stressful task. Many entrepreneur find writing a business plan hectic and for this they skip to write one. A business plan is an important document that will take your business on the heights, without one you will not be able to run your business successfully and effectively.
Writing a professional business plan requires enough time and sharp writing skills, but if you hire a professional business plan writing service you can save your lot of time and you will get a professionally written high-quality business plan in less time.
How to select a professional business plan service:
You need to have a high-quality and well-written business plan and for this it is necessary, to select best writing service. A business plan is an important document that is not only use for personal guidance, but it is also used for attracting potential investors, lenders and business partners. A well-written business plan is one that must look professional; it should be realistic, readable and informative.
Hire a service who knows the value of your money as well as of your business; and who can write best quality plan that will guide you in a better way.
Advantages of professional business plan service:
�Good business plan writing service provider can be a huge asset in starting a business.
�They save your lot of time. The time you save after hiring business plan writing service can be spent looking into other aspects of the business.
�They provide you authentic and up-to-date market data.
�The professional these business plan services hire knows how to write a business plan and what to add in it to make it stand out to investors.
�Provide you well-written plan within a predetermined amount of time.
Buying business plan from business plan writing services can be much advantageous for you and your business. If you don’t know the skills of writing a business plan, don’t waste your time buy business plan from online business plan writing services.

Pros And Cons Of A Professional Business Plan Writer:

A business plan writer plays a significant role in writing a business plan. A professional business plan writer is one who helps you to convey your business vision and mission in a clear manner. They explain your business goals and objectives and combine their experience in creating a successful business plan for investors and venture-capitalist. In short, a professional business plan writer is a ladder to success.
There is a big difference between a business plan writer and professional business plan writer. Thread carefully when hiring a business plan writer; consider their negative and positive aspects. Following are some pros and cons of a professional business plan writer; keep the following aspects in mind in order to make decision when hiring a business plan writer:
Pros:
�A professional business plan writer is one who saves entrepreneur’s time.
�He must be experienced and knows the skills of writing a professional business plan.
�A good writer is one who writes according to the audience perspective.
�Will complete a plan in a given time frame.
�Should have a background in business. Background in business would make it easier to understand business concepts and write a business plan in a best way.
�He or she must have in depth understanding of financial accounting.
Cons:
�Many business plan writers use software program or online template to write business plan. This will create lack of uniqueness and might create problem when a business wants to stand out to potential lenders and investors.
�May not clearly present the vision and mission of your business.
�May be costly
�Add too much irrelevant or unrealistic material in a business plan.
A solid and professional business plan is one that clearly describes your business. Writing a business plan is daunting task for some entrepreneurs who are unfamiliar of writing one. Every new business venture needs a solid business idea and every business idea needs solid planning. A person who is familiar of writing a business plan can only write a good and solid business plan that will help entrepreneur to get success.

How To Buy Business Plan Software?

Buying business plan software can be a real benefit, when you want to write a business plan. For essentially writing the business plan, business plan software can provide you the tools, which will help you to write the complete business plan from executive summary till financial projections with proper formatting that, will strike investors.
For entrepreneurs there are number of special varieties of business plan software available that help them to write a business plan. Several features may differ, but the majority requires the consumer to answer a series of questions for which the software fill in the blanks of the plan.

Buying business plan software can help you to make plan for your business enterprise in much easier way then trying to create a format for writing a business plan. Outlines and pre-populated forms can save your lot of time. Choosing software that can help you to write a good business plan is very difficult.
Below are some features of how to buy business plan software:
Fake Projections: To certify the achievability and the sensation of your retail business, it is necessary to compare your business plan with the business plan of related businesses. There are two types of business plan software packages available, some packages includes fiscal analysis tools that will help the user to judge, whether your business plan contains any inconsistency. Other packages contains financial outline like blank profit and loss account, balance sheet and cash flow statement. It is essential to buy business plan software package that contains business plan samples of number of industries.
Poor Usability: It is necessary to buy the business plan software that is easy to use and can effortlessly modify to suit your business requirements. The more guides and illustrations available in business plan software, it will be more easy to use. Try to discover a business plan software package that is well-matched with your accounting software.

Generic Plans: Business plan is totally dependent on searching; don’t rely too much on your business plan software. Be careful in using the software’s canned answers to definite questions. Don’t use irrelevant material; it is necessary that your business plan must be original.
Above are some features you need to know before buying business plan software.

Basic Attributes To Become A Professional Business Plan Writer:

Writing a successful business plan needs time and effort. All new businesses need business plan before stating in order to answer all the questions which investors might ask. Many entrepreneurs don’t know the proper format and skills of writing an effective business plan. So, for writing a business plan, they seek professional business plan writer’s help, who can write their business plan easily and in no time.
You have number of options, if you want to hire professional business plan writer. One is to look for someone in your locality. This will help you to deal with them face-to-face. Secondly, you can search for professional business plan writer online.
Below are some attributes to become a professional business plan writer:
Know the tactics of writing: For becoming a professional business plan writer, it is necessary that you should know the tactics of writing a business plan. Start with writing your own business plan. You can find plenty of reading material, as well as sample business plan online for writing a good business plan. Research will really help you write and online research is free of cost; spend enough time in study and research.
Write your plan: Professional business plan writers have to show his/her skills to potential customers and for this it is necessary that they must have sharp writing skills. Your customers want to see that whether you can write an effective business plan or not that can help them to generate funds. For this, it is necessary that write your own business plan in beginning. Utilize all the information you get online.
Get clients: Good business comes from solid market and how strong is your advertising and promotion strategy. Create website for your new business and post ads on websites. E-marketing is the most significant source to attract clients.
Protect your plan: Business plan have all the necessary and important information in them. It is necessary that a non-disclosure agreement is signed by the potential customers before you show your plan to them.
Protect your clients: For becoming a professional business plan writer it is necessary to keep your clients’ information secret. You cannot show their business plan to other clients, until or unless you don’t have written permission from them.
Keep learning: The more you learn and work according to the changing trends of business plan, the more you can attract potential clients. So, it is necessary for a professional business plan writer to stay updated according to the varying styles of business plan.

Ready To Use Professional Business Plan Templates By Createmybusinessplan

If you are still wondering about how to create the best business plans for your business, no matter what business you’re in, Create my business plan is one such solution to all your business plan writing needs, where you will find professionally written templates which in turn will result to be the fastest, easiest way to produce a business plan in the standardized format that serious investors expect.

Would like to know, why should you use createmybusinessplan as the business plan template company among the various choices available, then let me tell you, why createmybusinessplan is the best:
Developed By Professionals Who Know the Business
Don’t worry about leaving out an important section of your business plan. Our Business Plan Template was created by real world investment bankers with a long history of success in raising capital for early stage companies. Everything you’ll need is included in one easy download.
Write Your Winning Business Plan Quickly and Easily
Thousands of small business owners have already discovered how CreateMyBusinessPlan.com can save them time and money. Now it’s your turn! Let us lead you through every step of creating your business plan. Business Plan Success includes everything you’ll need to get started – a professional business plan templates , complete financial templates, a business plan writing software guide, and more!
A sound business plan template will consist of what you want to achieve for your business, what you need to do to succeed and how far you want to go. Your business plan template contains all relevant information about your new business and financial figures should be projected so that all aspects of the business can be looked at. The business plan will serve as a reliable foundation for your business to measure success in the future. When you are creating a business plan it is important that you identify all factors that might affect of your financial projections. Log on to http://www.createmybusinessplan.comand you will see an end to your worries regarding all your business planning needs. Use our free business plan templates to write your own powerful business plan today!

Resource box: Create my business plan is one such solution to all your business plan writing needs, where you will find professionally written templates which in turn will result to be the fastest, easiest way to produce a business plan in the standardized format that serious investors expect. Use our professional business plan templates to write your own powerful business plan today!

6 Reasons Why You Need A Business Plan

A business plan is a management tool. Do you need a business plan? Yes if you:

You Need To Decide Whether To Start A Business.

This plan will help you improve your chances for success and avoid making serious mistakes. You may be the only one who reads this plan, although you should have input from a number of other people with business experience. You need to ask yourself the following questions and incorporate the answers in your business plan:

What does it take to succeed in this type of company?

Do you have the skills and background necessary?

Can you afford to take the risk? What effect would the business’ failure have on you?

What is the growth potential for the business? Can it meet your financial expectations and requirements?

Is there a large enough market for your products/services?

Will you enjoy owning and managing the business?

A business plan is an important ingredient to the success of a start-up business.

You Want to Jump Start Your Business

Whether you’re an entrepreneur doing business on the Internet, a stay-at-home Mom with an arts and crafts company, or a writer trying to break into publishing, a business plan acts as a guide to success. Developing your business plan helps determine your objectives and focuses you on the strategies and action plans necessary to accomplish those objectives.

If you’re looking to boost your business it’s time to answer a few questions in your business plan.

What are your skill levels and talents?

What are goals for each month’s sales?

What are your resources, time available, advertising and promotional budget, website?

Do you have the necessary equipment? If you don’t, how will you obtain the equipment?

What barriers do you face?

You Want To Better Organize Your Company or Improve Its Operations.

This is a time and task oriented plan for use internally. It suggests actions that need to be taken and assigns responsibility. Questions that need to be answered:

How does our company compare to leaders in its industry?

What are our management weaknesses? How can we make improvements?

How can we increase sales, serve the customer better, improve manufacturing efficiency, increase the gross margin?

Do we have the necessary resources to make the above improvements? If not how will we obtain the resources? Do we need a bank loan or line of credit?

You Are Seeking A Bank Loan.

This plan is used to inspire confidence in your banker and convince her/him that your business is a good credit risk. It is written very logically, with an emphasis on the financial projections and presentation of historical financial results. Bankers who make bad loans get fired, so they like to err on the side of caution. A banker is looking for safety and a demonstration that the company can generate sufficient cash flow to pay the interest and the principal. Bankers are not looking for a huge return on their money. They don’t want to take part in the management of your company or sit on the board of directors. Your business plan will need answers to these questions:

Will the company’s cash flow be stable enough to make the payments on the loan?

Are the long term prospects of the business favorable?

Does the company have a reasonably good track record?

You Need An Investor/Partner.

The plan must demonstrate considerable upside potential for the business. The banker was content to get his money back plus, say 10% interest. The investor may want a return of 30% to 50% or more. This plan must be written in an interesting manner and keep the reader’s attention. Your business plan is competing with all the other plans submitted to the investor. Make sure you address the following questions:

Can the company grow rapidly?

Are the margins attractive?

Have you succeeded in other business ventures?

Is this a market that is emerging, with a large and bright future?

How much of the company are you willing to give up, both in equity and management control?

You Want To Sell Your Business

You must prove to a potential buyer that your company is worth paying a premium for. Sometimes this can be called a marketing presentation, offering memorandum, or valuation. It is not strictly a valuation, as you are trying to establish your sales price for the business, not determine a value. Usually a valuation is completed by an objective third party. You’re likely to be asked:

Is there untapped potential for the business that a new owner could take advantage of?

If the new owner had more capital, could the business grow more rapidly?

Are there new markets that could be entered?

Could costs be reduced and therefore profits increased?

Every business should have a business plan. It’s the road map to success. But a well thought out business plan is critical if your company is seeking financing.

How To Write A Successful And Effective Business Plan

Running a successful business is often not attributed to a good business plan but in reality, it is. Unfortunately business planning is an often overlooked part of running, starting and acquiring a business, or growing and expanding a company, or obtaining business finance. Having a well developed business plan will contribute greatly to successful business goals, amking acheivement of those goals much more predictable and easier, leaving much less room for error and mistakes. You can’t predict everything that can possibly happen to a business but a solid business plan process helps you to head off certain pitfalls and obstacles, while as importantly, help to anticipate and create opportunties for the business.

There are various business plan formats for different purposes. I recommend starting with a Comprehensive business plan to successfully run your business or project. With the comprehensive plan in place, it is a snap to form other more specific purpose plans off of that main business plan. An example would be a funding business plan to secure finance for a company.

Formats are important for Business Planning but most important is the Process. The Process is a building block system that is continuous, systematic and comprehensive. It involves the entire Company, produces effective decision making and manages those decisions in a Strategic Plan. A good Business Plan also measures the relationship between Expectations and procedure- it evaluates your Companys progress or lack thereof. A Business Plans goal is to create the future for your company- being proactive versus reactive in relationship to your market niche.

It is said, writing a good Business Plan is more art than science. It is good to have a proven process and format, but you cant just fill in the blanks on a master planning plan or document. It is a matter of asking yourself the right questions within that proven process and format that brings about a successfully written Business Plan.

A Comprehensive Business Plan has Eight Sections: Executive Summary, Company Overview, Management and Operations, Products and Services, Marketing Plan Strategic and Sales Plan, Financials and Appendix.

Table of Contents

Before discussing each section of the Business Plan, let’s cover one of the most important parts of the Business Plan, the Table of Contents. The Table of Contents should be very elaborated, so that the person reading and using the Business Plan can find and access the info needed very easily and quickly. You can write a great Business Plan with all the necessary information in it, but if you can’t easily find or access that information, then the Business Plan ceases to be a useful tool.

The Table of Contents should be organised by each section of the Business Plan and the particular page numbers of each section and sub-section. For instance, in Section One, The Executive Summary, you should be able to find the Management sub-section very easily. It is strongly recommended that a Business Plan be organized as an online document, with the sections and sub-sections hyperlinked to the page where that information resides. This way you can access information very quickly on a computer online versus having to flip through the paper document to find the information.

Organization

The Organization of the Business Plan is quite important. The 8 Section Business Plan is in a specific order from which each section builds on the previous section. There is fluid thought and reasoning employed to achieve a Business Plan which reaches its specified purpose (i.e. to run a business, to buy a business, to expand a business, to enter a joint venture, to finance a business, to complete a particular project). Although we discuss the Executive Summary as the first section of a Business Plan, the Executive Summary should be written last. With the exception of the Executive Summary, all the other sections should be written in the order they are listed. Remember that a Business Plan is a Business Document; you are NOT writing prose. It should contain a very precise and concise format and be organized into numbered sections and sub-sections, which contain specific information in short, paragraph form. Business Plans should be written in paper form, computer format and online format. Computer Format means the Table of Contents are hyperlinked so you can easily access certain information quickly and precisely in one click on your computer.

You should have your Business Plan published securely, online (via password access) so that certain key managers or employees can access and manage remotely. Also, you can use an online Business Plan to invoke funding for your venture. You can have different versions accessible online for particular purposes. For example, you could have your Marketing Plan accessible remotely so your Sales Manager can update it or refer to it while in the field or on an important sales call. You could have a funding version of your Business Plan accessible online for angel investors or venture capitalists to view your opportunity.

A Business Plan is a dynamic document, as it changes on a daily, weekly and monthly basis. By being able to access it on your company computer net and / or online, the CEO, Executives, Management and Key Employees can update it easily and effectively. For a Business Plan to be successful, it must be intertwined into the fabric of your business. Having the Business Plan organized with Hyperlinks with super organized sections and uploaded on your companys computer network and accessible online, allows the Business Plan to become a “living” document which can effectively:

1) Run a business

2) Be readily changed, adapted and updated

3) Be a sales tool

4) Obtain funding

5) React quickly to market changes

6) Give you the ability to make realistic estimates and projections

7) snap up opportunities

8) Keep your Competitive Advantage.

Organization of your Business Plan is KEY to its effectiveness and utility. It is important to remember that too many Business Plans are written from the perspective of the Business Owner. When writing your plan, remember your audience extends beyond you, the Owner. Dont neglect your Managers, employees, customers, the marketing aspects and the potential investor elements. This is also why we suggest writing one Comprehensive Plan to run your business and develop other Specific Purpose Plans for different audiences, i.e. a Customer Plan, an Investor Plan, a Lender Plan, a Strategic Management Plan, a Marketing Plan, Supplier Plan and so forth.

Section One: Executive Summary

As stated previously, the Executive Summary should be written last. Why? Because it organizes and summarizes the entire Business Plan. You cannot achieve this effectively until all other sections of the Business Plan are completed. You should develop two types / renditions of the Executive Summary for your Business Plan. A short version which is 2-3 pages and a longer version that is 5-7 pages long. The Executive Summary contains the Company Statement, Visions and Mission, the Purpose of the Business Plan and a short summary of each section of your Business Plan, along with a Financial / Profitability Section.

The Executive Summary (short version) is part of your Business Plan, giving the reader a quick overview of the important facts contained in your Business Plan. The Executive Summary (short and long versions) can also operate as a stand-alone document to be used to generate interest in your business opportunity or venture, i.e. to be sent to a funding source to generate and gauge their initial interest. An Executive Summary can accompany a Deal Overview or Investment Summary to provide more details to a venture capitalist about your particular business opportunity.

Brevity, yet completeness and inclusiveness, is key when writing your Executive Summary. It should be concise yet have adequate detail about your Business Plan. This can be difficult to achieve if you attempt to write it prior to completing all the sections of your Business Plan.

Section Two: Company Overview

The Company section of a Business Plan speaks to all the pertinent details of your particular company. For instance, how it is formed; what your company does; how it is organized; your Vision, Mission and Goal Statements: history of the company; where it is located; how you can be contacted and so forth. This section comes first in the Business Plan as it serves as an introduction to the necessary details and background of your company.

Section 3: Management and Operations

This section builds on the Company Section explaining in detail who will run the company; who founded the company; who the key employees are within the company; how the company will be run; what are the specific qualifications of those who will run the company, work in the company and be responsible for(p) for sales, marketing and strategic direction; the specific gaps in Management and talent, providing a plan to fill or overcome those present gaps; and so forth. You can have the top business idea or concept but lack the people to execute the plan. Therefore, the Management Section of the Business Plan is the most important element of the plan and often scrutinized as such by finance sources, customers and your Business Plan audience.

Section Four: Products and Services

Now that you have developed the Company and Management sections, it is time to describe in detail your companys Product or Service (P/S). This section also contains information on your competitors P/S. One of the most important aspects of the P/S section of the Business Plan explains why your P/S is unique: i.e. its competitive advantage or put another way, the utility of your P/S. On the converse, the P/S section states where you have weaknesses in your P/S line-up.

A Resource Audit is an honest self-evaluation of your company. In this analysis you identify your strengths, weaknesses, opportunities and threats, which will be considered in your Marketing Plan and addressed in your Strategic Plan. You develop your P/S price points, features and value to be fully exploited in the Marketing Plan and implemented in the Strategic Plan. Customer identification, analysis and segmentation starts in the P/S Section to be later developed in the Marketing Plan (and yes, implemented in the Strategic Plan).

Section Five: Marketing Plan

The Marketing Plan fully develops how your P/S will be marketed; summarizes your Marketing Research (actual research contained in the Appendix); fully details your specific Target Market Segments; and explains your P/S Competitive Advantage. In essence, The Marketing Plan explains in great detail how your P/S will be positioned in the market and should be supported by detailed, believable market research. The Marketing Plan carves out your niche(s) and develops effective Marketing Programs, along with a Strategic Marketing Plan.

Section Six: Strategic Plan

The Strategic Plan puts the Marketing Plan into action. The Strategic Plan will show how to implement the Marketing Plan. The Strategic Plan equals action and implementation. It also details your Sales Forecast for each particular product or service. The Strategic Plan translates what will be the result of the Marketing Plan, and how it will be implemented and achieved. The Strategic Plan takes the vast amount of marketing information and research and puts it into a clearly defined Sales Plan. It is very important a Strategic Plan is believable and achievable. It works out the kinks and road blocks in your Marketing Plan and illustrates how you will overcome your Competitive Gaps.

The Strategic Plan also provides a process for Strategic Management, Strategic Auditing and Strategic Reassessment. The end product not only implements The Companys Strategy, but also it provides measurable performance, control functions, corrective actions and reassessment when necessary. It is a top down and bottom up approach, entirely inbuilt with your Companys Operations, from the Vision and Leadership of the CEO, to Managements implementation supervision of the Strategy, to the Sales and Operations units of the company. It provides a Company-Wide Strategic Vision, focussing, Structure and Discipline, while providing an air of learnedness and cognisance, with a process for identifying deficiencies, and in turn, altering those problems.

Section Seven: Financials

If you develop your Strategic Plan effectively, completing the Financials will not be difficult. The principal reason why business owners have such a hard time with the Financials Section of a Business Plan is often due to a cursory job on their Strategic Planning (as well as other important sections). Financial Projections are not believable chiefly because a suitable, well developed Strategic Plan wasnt accomplished. Guess what makes a successful Strategic Plan? The proceeding section, the Marketing Plan. As stated previously, the sections and the order of the sections in a business plan are very important because each section builds on the previous section, the culmination of which makes for certain data from which solid Financial Projections can be made.

You should have two sets of Financials, simple and detailed, as well as, cautious and best case. The following types of financials are typical for a Business Plan:

Cash Flow: Monthly basis for 12 months. Yearly and Quarterly basis for 3-5 years.

Income Statement: Monthly basis for 12 months. Yearly and Quarterly basis for 3-5 years.

Balance Sheet: Yearly and Quarterly basis for 3-5 years.

Another very important Financial in addition to the three prescribed Financials, is the Budget. Budgets are used principally for two purposes: Planning and Control. A Budget matches short term targets with long term Strategic Planning, while providing an indication of problems in front. A good Budget system will point when Expenses are heading over Budget and there is sufficient time to correct the problem. Budgets are often developed during the Strategic Planning Process.

We like Rolling Budgets which look ahead 12 months on a monthly basis, and it budgets an additional Quarter at the end of each Quarter. This way, you always have a 12 month continuous Budget Outlook. A Budget should also be flexible so that you can sort the effects of variations between Actual and Estimated results. Lastly, a Budget is a tool to Evaluate your Business Units and Managements Performance. Needless to say, assembling and actively managing a good Budget requires the input of your entire organization.

It is important to realize that your Financials refer to each other when building them (a reason why Financial Software Programs are so beneficial). Theres a lot of back and forth between the Income Statement, Balance Sheet and Cash Flow Statement. The Cash Flow Statement is the most important Financial for many reasons but principally because it shows in detail how much cash is necessary to finance and grow your company.

Computer Programs are excellent resources for developing your companys Financials, such as Quicken for Business, Quick Books or other Business Planning Financial Software Programs. It is important that these programs allow you to 1) customize the Formats for your needs and 2) are downloadable into Excel Spreadsheets for maximal utility and flexibility.

The projection period differs and depends for a particular company, venture or project. For instance, a large scale Real Estate development projects Cash Flow could be 5+ years and 60+ months depending on the length of the project build out. Also, Real Estate development projects require more Financials than detailed above. Typically, a Construction Cost Analysis and Cash Flow, Schedule of Real Estate, Construction Cost Schedule and so forth are requirements. Real Estate Development Financials are developed through a Loan Package and transferred to the Business Plan Financial section, so consult how to properly package a loan in order to learn more about these project specific Financials.

A very important element of the Financial Section is the Assumptions area. This details the assumptions you have utilized in constructing the financials. You should also list the various calculations and formulas used in your financials since those formulas can be company, deal or project specific. Financials should also include Return of Investment / Return on Equity calculations and the assumptions used in those calculations.

Your Financials need to be believable and realistic. If anything, they need to be conservative. Too often we see extremes of too few numbers or too many numbers. If you build out your Financials as a direct result of your Strategic Plan (as we have prescribed), this process results in numbers that are realistic and achievable. An option is to build two sets of Financials, conservative and a little more enterprising. We find if you have truly conservative numbers, you will often exceed your Plan, which is a great Psychological boost for any company in any stage of development. (This assumes these numbers are based on sound planning and thinking and most significantly, that your company can make a nice profit at the conservative level).

Section 8: Appendix

The Appendix Section of a Business Plan contains all the bulky items: marketing research, construction plans, appraisals, valuations, company art work and graphics, company charters and share details and so forth. Since an Appendix is often large in volume, it is important to have a table of contents in the beginning of the section, detailing what is contained and where it appears in the Appendix section.