You probably already know that a business plan can be a great asset to any business or company, particularly if you are just starting up. But have you ever written one before and do you know how to create a proper business plan? If you want to create a business plan that really get results, you need to follow some certain steps. more…
It’s important to have a business plan for your business each year so that you can see what your needs are for the coming year and to show yourself and the bank how far you have progressed since your original business plan was written. A new business writes a business plan in order to show their intentions to operate and to provide information to financial institutions in support of start up capital and funding for other operations. In most cases, the banks want to see three to five year projections showing your intention for the funding. Depending on the scope of the business, they may only finance the first year, and will want additional proof that the business is progressing along the terms of the original business plan before they will advance any more funds. more…
Having a business plan is a very important tool in business, however there is no point having a fantastic plan and then hiding it in your bottom draw.
A business plan is simply a written plan that incorporates the many aspects of your business, for example; financial, marketing, short and long term goals, time appreciation. more…
At first all new businesses start of as an idea. How do you turn this idea into a profitable opportunity? When the idea grips you so much, that you wake up in the middle of the night and hurriedly scribble down some notes, what do you do next? Some of the best business ideas I have had have come at night but usually they are so bold that most of them end up in the “ideas box”. more…
In this note, I want to share my learning on business plans with you. Because I am involved in Venture Capital and Private Equity, I get a lot of business plans. And going by the number of proposals we reviewed or prepared in the last one year, the global economy is doing great! A lot of individual professionals have opened their own companies, and many companies are looking to grow with global demand for their products/services. more…
