WRITING A BUSINESS PLAN
Why Do You Need a Business Plan ? To Business Plan or Not To Business Plan This is a question often asked by so many entrepreneurs. The question should rather be : “Can you afford not to have a business plan”? Here are some of the reasons why you do need a business plan. 1 . If you fail to plan you plan to fail. This holds true for any venture or project. Just jumping in and trying to sort operations, marketing, sales without a plan is ludicrous. Don’t do it. make sure you know where you are going to and plan for contingencies. 2 . To better understand your business The foundation of a successful business is that you understand your business. You need to have clarity on what you want to achieve with your business. You can only have clarity if you understand where you are going with your business. This is a total process and not just a one-pager where you jot down a couple of notes and think it is a business plan. Your business plan is part and parcel of your business strategy. 3 . To create a strategic framework for decision-making Decision fatigue is a real phenomenon facing entrepreneurs. Am I making the right decision ? Will I be making a mistake ? If you have a strategic framework defined then you and your personnel can make decisions to support the vision, mission and goals of the company. Decision-making then becomes easy but your business need to be clearly defined in order to do so. 4 . To better understand your competition A tried and tested business plan process will force you to analyse the competition and understand what you are up against. It will clearly define your differentiators for your product/service that you will or are currently providing. You need to understand your competitive advantage and how you will use that to target your target market. 5 . To better understand your client Analysing your customer is essential for an effective business plan and the success of your business. To know why they buy and when they buy can determine the success of your venture. To do this you need to follow tried and tested processes and methodologies to analyse your customer for your product and/or service. 6 . To research and understand the market segment that you will be operating in Your business cannot be everything to everyone and everybody out there. You need to understand which segment of the market your business will be targeting. Rather spend 20% of your effort on 80% of your income than spending 80% of your effort on 20% of your income. Use tried and tested processes and methodologies to analyse the market segment that you will be targeting. 7 . To know upfront whether your business will work or not One of the key benefits of compiling a business plan is that, if you do it right, you will know upfront whether your business will work or not. You can only know this if you have followed tried and tested processes and methodologies to compile your business plan. 8 . To create a sound financial model unique to your business idea/venture Your business will be built around a financial model that determines how you will generate revenue, run your operations, generate sales, pay for staff etc. It does not help building a financial model that will shoot the lights out. Investors and funders will quickly shoot you down if that is the case. Be realistic in your approach and rather venture on the conservative side. 9 . To mitigate risks associated with your business Risks are inherent to a business and more so if you are starting a business or when the economy goes south. Defining and creating plans to mitigating your business risks are inherent to a business plan. It also assists with making difficult decisions when the time comes. 1 0 . To attract investment/funding How much capital do you need for your business ? Are you guessing ? If you use tried and tested processes and methodologies to create your business plan then you will eliminate the guessing factor. You will know exactly what you require, when you require it and what you will be prepared to give in exchange for investment or funding. 1 1 . To create a marketing and sales strategy for your business Sales is the lifeblood of business success. No sales=no revenue. If your marketing and sales strategy is not clearly defined and customized for your business then your business may end up in failure. Use tried and tested processes and methodologies to create a sales and marketing strategy unique to your company and business environment. 1 2 . To reposition your business should you have an existing business Contrary to popular belief business plans are not only for start-up businesses. It is also for existing businesses. Businesses evolve over time and business plans need to keep up with this. You can only reposition your business if you know where your business is right now to know where your business ought to be. You want your business in a space which we call the Powerplay Space. You can only do this if you use extensive tried and tested processes and methodologies to do this. 1 3 . To understand your capital requirements What are your capital requirements for your business. Don’t know or are you guessing? Using tried and tested processes and methodologies you will understand how to determine your capital requirements for your business and how to obtain the capital required. 1 4 . To understand your staffing requirements No man is an island and you will most probably require staff for your business whether they are in-sourced or outsourced. How many staff will you require ? What will they cost ? How will you remunerate them ? Use tried and tested processes and methodologies to define your staff requirements. 1 5 . To exploit new opportunities If you use tried and tested methodologies you will see your business from a different angle which enables you to come up with new and innovative opportunities that you can exploit. Don’t underestimate the power of this.

How To Write a Business Plan For a

Business That Will Make You Money

DON’T BECOME A STATISTIC 20% of businesses fail within the first year of operations and only 50% make it through year 5. This is a global statistic and may differ from country to country. Do not become one of the statistics that did not make it. Knowledge is key if you want to make a success of any business venture whether you are just starting out or whether you have an existing business. Save hours of work by using tried and tested processes and methodologies.
Do I Need Business Skills To Write a Business Plan ? Get Business Educated Many prospective entrepreneurs do not have any business skills but they do have an idea. It is highly recommended to do an Entrepreneur Training Course that will teach you the basics on how to start a business. Writing a business plan without some skills is like swimming without a swimming lesson. Don’t be in a position where you are likely to drown. Get your entrepreneur swimming lesson. There are many courses available that can teach you the basic skills to be an entrepreneur. Enrol into one of these courses.
10 Crucial Mistakes People Make When Compiling a Business Plan
Find out what these mistakes are before you start writing your business plan. Don’t fall into the failed business plan trap. These crucial mistakes are the difference between success and failure.
Why Use Tried and Tested Processes and Methodologies to Write a Business Plan Learn from the Experts to Write a Superior Business Plan Do you know where to start with your business plan ? Do you have a check-list against which you can measure whether you have a successful business plan that will make you money ? Have you addressed all the aspects of a business plan ? Why do a business plan if you do not intend to make money from this business plan ? If you want to have a successful business why not use tried and tested processes and methodologies. Why do you want to re-invent the wheel ? There are tried and tested processes and methodologies that you can follow to compile a killer business plan. But what is a business plan if you do not execute this business plan ? This is why it is of vital importance to use a proven methodology that will result in action plans that you can just execute. Yes, you can start writing your own business plan but are you sure that you will gain success from this business plan.
CAN I WING IT WITHOUT A BUSINESS PLAN ?
In 1992 Leon Jordaan had a dream to start his own business. He decided to jump in. He started a business and planned to make it big. He rented office space, bought office furniture, employed staff and expected big clients to knock down his door even though he wasn’t sure how he would attract those clients. I had this vague idea in my head and my only business plan was to wing it….I thought that I knew it all and had everything under control” he said I then failed miserably. I did not know what I was doing “I was forced to take a job to pay of the debts that I incurred during my first business failure. During this period it bugged me intensely why I have failed and struggled to come over the disappointment. After months of work during my spare time, I finally figured out what it took to succeed and discovered what I did wrong. I compiled my first business plan to successfully build a sustainable business . “ Jordaan, who have now built many multi-million dollar businesses, says that the best thing that could have happened to him was that his first business venture failed. He claims that the lessons learned is the reason he built successful businesses and that the foundation of his successes is by creating thorough and superior business plans.
Leon Jordaan Presenter How To Start a Business Course
Why Do You Need a Business Plan ? To Business Plan or Not To Business Plan This is a question often asked by so many entrepreneurs. The question should rather be : “Can you afford not to have a business plan”? Here are some of the reasons why you do need a business plan. 1 . If you fail to plan you plan to fail. This holds true for any venture or project. Just jumping in and trying to sort operations, marketing, sales without a plan is ludicrous. Don’t do it. make sure you know where you are going to and plan for contingencies. 2 . To better understand your business The foundation of a successful business is that you understand your business. You need to have clarity on what you want to achieve with your business. You can only have clarity if you understand where you are going with your business. This is a total process and not just a one-pager where you jot down a couple of notes and think it is a business plan. Your business plan is part and parcel of your business strategy. 3 . To create a strategic framework for decision-making Decision fatigue is a real phenomenon facing entrepreneurs. Am I making the right decision ? Will I be making a mistake ? If you have a strategic framework defined then you and your personnel can make decisions to support the vision, mission and goals of the company. Decision-making then becomes easy but your business need to be clearly defined in order to do so. 4 . To better understand your competition A tried and tested business plan process will force you to analyse the competition and understand what you are up against. It will clearly define your differentiators for your product/service that you will or are currently providing. You need to understand your competitive advantage and how you will use that to target your target market. 5 . To better understand your client Analysing your customer is essential for an effective business plan and the success of your business. To know why they buy and when they buy can determine the success of your venture. To do this you need to follow tried and tested processes and methodologies to analyse your customer for your product and/or service. 6 . To research and understand the market segment that you will be operating in Your business cannot be everything to everyone and everybody out there. You need to understand which segment of the market your business will be targeting. Rather spend 20% of your effort on 80% of your income than spending 80% of your effort on 20% of your income. Use tried and tested processes and methodologies to analyse the market segment that you will be targeting. 7 . To know upfront whether your business will work or not One of the key benefits of compiling a business plan is that, if you do it right, you will know upfront whether your business will work or not. You can only know this if you have followed tried and tested processes and methodologies to compile your business plan. 8 . To create a sound financial model unique to your business idea/venture Your business will be built around a financial model that determines how you will generate revenue, run your operations, generate sales, pay for staff etc. It does not help building a financial model that will shoot the lights out. Investors and funders will quickly shoot you down if that is the case. Be realistic in your approach and rather venture on the conservative side. 9 . To mitigate risks associated with your business Risks are inherent to a business and more so if you are starting a business or when the economy goes south. Defining and creating plans to mitigating your business risks are inherent to a business plan. It also assists with making difficult decisions when the time comes. 1 0 . To attract investment/funding How much capital do you need for your business ? Are you guessing ? If you use tried and tested processes and methodologies to create your business plan then you will eliminate the guessing factor. You will know exactly what you require, when you require it and what you will be prepared to give in exchange for investment or funding. 1 1 . To create a marketing and sales strategy for your business Sales is the lifeblood of business success. No sales=no revenue. If your marketing and sales strategy is not clearly defined and customized for your business then your business may end up in failure. Use tried and tested processes and methodologies to create a sales and marketing strategy unique to your company and business environment. 1 2 . To reposition your business should you have an existing business Contrary to popular belief business plans are not only for start-up businesses. It is also for existing businesses. Businesses evolve over time and business plans need to keep up with this. You can only reposition your business if you know where your business is right now to know where your business ought to be. You want your business in a space which we call the Powerplay Space. You can only do this if you use extensive tried and tested processes and methodologies to do this. 1 3 . To understand your capital requirements What are your capital requirements for your business. Don’t know or are you guessing? Using tried and tested processes and methodologies you will understand how to determine your capital requirements for your business and how to obtain the capital required. 1 4 . To understand your staffing requirements No man is an island and you will most probably require staff for your business whether they are in-sourced or outsourced. How many staff will you require ? What will they cost ? How will you remunerate them ? Use tried and tested processes and methodologies to define your staff requirements. 1 5 . To exploit new opportunities If you use tried and tested methodologies you will see your business from a different angle which enables you to come up with new and innovative opportunities that you can exploit. Don’t underestimate the power of this.
what is in a business plan
DON’T BECOME A STATISTIC 20% of businesses fail within the first year of operations and only 50% make it through year 5. This is a global statistic and may differ from country to country. Do not become one of the statistics that did not make it. Knowledge is key if you want to make a success of any business venture whether you are just starting out or whether you have an existing business. Save hours of work by using tried and tested processes and methodologies.
Do I Need Business Skills To Write a Business Plan ? Get Business Educated Many prospective entrepreneurs do not have any business skills but they do have an idea. It is highly recommended to do an Entrepreneur Training Course that will teach you the basics on how to start a business. Writing a business plan without some skills is like swimming without a swimming lesson. Don’t be in a position where you are likely to drown. Get your entrepreneur swimming lesson. There are many courses available that can teach you the basic skills to be an entrepreneur. Enrol into one of these courses.
WRITING A BUSINESS PLAN

How To Write a

Business Plan For a

Business That Will

Make You Money

10 Crucial Mistakes People Make When Compiling a Business Plan
Find out what these mistakes are before you start writing your business plan. Don’t fall into the failed business plan trap. These crucial mistakes are the difference between success and failure.
CAN I WING IT WITHOUT A BUSINESS PLAN ?
In 1992 Leon Jordaan had a dream to start his own business. He decided to jump in. He started a business and planned to make it big. He rented office space, bought office furniture, employed staff and expected big clients to knock down his door even though he wasn’t sure how he would attract those clients. I had this vague idea in my head and my only business plan was to wing it….I thought that I knew it all and had everything under control” he said I then failed miserably. I did not know what I was doing “I was forced to take a job to pay of the debts that I incurred during my first business failure. During this period it bugged me intensely why I have failed and struggled to come over the disappointment. After months of work during my spare time, I finally figured out what it took to succeed and discovered what I did wrong. I compiled my first business plan to successfully build a sustainable business . “ Jordaan, who have now built many multi-million dollar businesses, says that the best thing that could have happened to him was that his first business venture failed. He claims that the lessons learned is the reason he built successful businesses and that the foundation of his successes is by creating thorough and superior business plans.
Leon Jordaan Presenter How To Start a Business Course
Why Use Tried and Tested Processes and Methodologies to Write a Business Plan Learn from the Experts to Write a Superior Business Plan Do you know where to start with your business plan ? Do you have a check-list against which you can measure whether you have a successful business plan that will make you money ? Have you addressed all the aspects of a business plan ? Why do a business plan if you do not intend to make money from this business plan ? If you want to have a successful business why not use tried and tested processes and methodologies. Why do you want to re-invent the wheel ? There are tried and tested processes and methodologies that you can follow to compile a killer business plan. But what is a business plan if you do not execute this business plan ? This is why it is of vital importance to use a proven methodology that will result in action plans that you can just execute. Yes, you can start writing your own business plan but are you sure that you will gain success from this business plan.