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Business Plan and Start Up Newsletter Issue #1021-Gathering Information For Your Plan
August 11, 2005
Business Plan Pro... Everything banks; lenders and the SBA look for! Produce your business plan quickly and easily... For entrepreneurs and small-business owners. Business Plan Pro 2005
Gathering Information For Your Plan
How Can We Help You Write Your Business Plan?
“Why You, Why Now” - A
A Few Cool Helpful Notes
Fortunately, in recent years the Internet has made information gathering simple and easy, but sometimes the best information is found much closer to home, with real people, in real time.
Always take a look at other businesses similar to your own, as a very good first step. If you're looking at starting a new business, you may well be starting one similar to one you already know.
If you're doing a plan for an existing business, you are even more likely to know the business well. Even so, you can still learn a lot by looking at other similar businesses.
It takes a little hard work but by using the Internet and doing some research at local businesses, you should be able to gather all the information necessary for your business plan.
So I have written a manual that will help you with writing your business plan.
This manual is intended to aid you in the preparation and the writing of your business plan for your business.
The first part of it is written to help you write your business plan. There is plenty of note space for you to take notes as you move through it. You can also take additional notes on other paper as needed.
You should write your business plan as you go through this manual. Or, you can go to the Quick Start... Business Plan Work Shop.
This section is written for those of you that want to write a quick little business plan in a speedy amount of time.
This section also includes some worksheets in a printable form. You can use these worksheets to help you figure out some of the financial information that your business will need to complete.
For More Information about; How To Write A Business Plan... Made Easy
Business plans continue to be an essential element of the capital-raising process. They must convince investors to take notice - investors that are shrewder today due to the ups-and-downs they have experienced over the past few years.
Adding to the financing challenge is the plethora of high-quality companies, both public and private, in which investors can choose to invest. In this environment, more and more investors are asking companies seeking capital the question "Why You, Why Now"?
The question seems simple at first, but has many complexities. The management team must clearly delineate what it is about the business opportunity that makes it such a good investment now. Should this investment have been made a year ago to cement a market leadership position? Or, is the venture before its time - will slow market adoption cause slow sales over the next few years, and as such, should the investment wait. Questions like these, based on investment failures from the past few years, continue to surface and must be addressed by the management team in their business plans.
Likewise the team must address what it is that makes them uniquely qualified to succeed. Does the team have proprietary (and protectable) technology, management talent and experience that competitors do not, long-term strategic partners? According to Growthink president, Dave Lavinsky, "Management teams must prove to investors why they are unique and why they will succeed. They can't just state how wonderful they are - they need to prove it through detailing past successes and unique qualifications."
A business plan that fails to address the "Why You, Why Now" question, is most likely a business plan that will remain in the stack of "not now" business plans. Business plans must present a compelling argument as to why the investor should invest and in our fast-paced world with unbelievable opportunities and opportunity costs, why investors should invest now.
About The Author
Business Plan Pro
Business Plan Pro 2005 includes:
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