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What should be included in the appendices of a business plan?
BP Power Point Presentations Often a business plan is not only written, it is also presented - whether to investors, shareholders or fellow employees. Therefore, a Powe…r Point presentation is not a bad idea. But don't jump the gun. Many first-time entrepreneurs mistakenly think they have a choice - to develop their business plan using a word processing or business planning program or to create one using Power Point. Your business plan should always be formatted as a longer, all-inclusive document using a program like Microsoft Word. From there, you can select the major highlights to include as part of a Power Point presentation. Make sure your presentation is effective. Keep in mind who you will be presenting to, timing and how many presenters there will be. And make sure to practice in front of an objective audience before giving the presentation.
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Business Planning Software No, no and no. Absolutely not. Not only are these software packages a waste of time and money, they are also very confusing and make the planning pr…ocess much more difficult for a first time entrepreneur. They really serve no purpose, as no two business plans are alike. They don't actually create the plan for you and you should never consider filling in the blanks to an existing one. This is called "canning" and is widely recognized as a farce in the business world. You don't want your plan to lack research, thought and originality! I have tested a variety of these software titles and found that it is much easier to create a business plan using Word, Works Word Processor or Word Perfect. Excel or a Works Spreadsheet will come in handy for developing your financial projections or contact your accountant. Your best bet is to invest the couple hundred of dollars you were going to spend on planning software on some self-help books for how to construct a solid business plan. Answer Although they are not the best for professional business people, BP software could be a great starting point for someone not in the industry. Generally they all come with the same framework and some offer interesting tips and hints... kind of like having a tutor to help you out. So if you know nothing about business plans and don't know where to find the information then go ahead and try one out... some give 30 day free trials. Answer You can find a lot of solid information, including a business plan model at the US Small Business Administration website (see the related link).
Updating a Business Plan All business plans should be regularly updated - whether weekly, monthly, semi-annually or annually. Every 8-10 months is what the experts recommend…, as long as things have remained fairly stable. A business plan should always be updated when there are any major changes taking place. For instance, is there new, formidable competition? Is there heightened merger and acquisition activity in the marketplace? Are there new technologies that need to be accounted for? Another sign it's time for a tune-up is when major changes have or are occurring in the internal situation. The most obvious changes are transfer in ownership, which is usually the result of dissolving partnerships, divorce, deaths and investment; or on a more ominous note, when a company suffers significant declines in sales, profits and financial health. Short-term problems may require immediate revisions. The reasons for updating a business plan should be pretty obvious. Business plans are full of specific dates, budgets, forecasts and management responsibilities, which all need to be reviewed and measured against actual results. From there, adjustments can be made. If certain projections turn out to be inaccurate, for example, you can modify your objectives and action plans to reflect the new developments. For investors, the business plan is what they buy into. It becomes the benchmark for accountability. They intend to hold management responsible for achieving the goals and objectives that are outlined in the plan. The key reasons for Mission Statements, Buisness Plans and Budgets (short term as well as long term) are to provide your company direction. The key question to ask is "if you don't know where you want to go, how do you know you are on the right track to get where you want to go?". the Mission Statement provides the overall direction and purpose of your buisness, the Business and Strategic Plans provides specifics as to where you want to go and how you plan to get there, and the Budgets but numbers to paper (for example, how much you expect to make and how much you expect to spend to achieve those revenue goals). The budgets are then used to monitor progress towards your short and long term plans.
In a typical business plan, the following are normally included: competitive advantages, a marketing strategy, and use of funds. Also included are financial indicators and… exiting strategies.
Breakeven Analysis Break even is the the difference between revenue what is made through services or what it costs to manufacture a product. This is the prime costs, direct c…osts the difference of both revenue and total prime costs is called contribution. This contribution needs to cover fixed costs as well as total overheads indirect costs. Using breakeven is a good way of controling your costs and working out if your selling price is too high or low compared to your competitors, then it is a matter of using the competitor pricing method or the actual cost method to work out your mark up. Break even will tell you and most importantly your business advisors, the number of clients you need on a weekly, monthly basis. This will prompt you on how much projected profit cash flow you can forecast for the business to make in the first year of trading. Hope this helps. Please let me know if you need more informtion Andrew swift
\n. \n BP Cover Page \n. \nThe cover page of your business plan is very important, since it is the first page that most people see. Therefore, the cover page is essenti…ally making the first impression - it is introducing you and your business plan to others. So it is critical that you check and double check your spelling and grammar. Make sure the cover page features your company's logo or an image that portrays your product or service lines. If you are a start-up and do not have a logo or other picture to use, you can buy a royalty free image online. Choose one that reflects what your company is all about. For example if you are launching a hair salon, select one of a man or a woman having their hair cut. You'll also want to include a title, your name and contact information somewhere on the cover page to make contacting you quick and easy.
The letter heading contains the sender's address. The date is the last line of the heading. Letterhead can substitute for the sender's address but the date must be placed belo…w the letterhead. The sender's address for a standard format and a modified block format is justified at the right margin; for a full block format, the sender's address is justified at the left margin. The placement of the date of the letter is one blank space below the address. For any of the above formats, a senders address may be centered but the date should be at the right or the left margin, depending on the above formats used. Sample block format: Mr. I.M. Somebody 12345 Major Highway City, State etc. My Telephone Number My email Address Date of Letter
Background to business:. Â· Name. Â· Mission statement. Â· Location. Â· Physical size of business. Â· Type of business ownership. Â· Goals and objectives. M…arketing plan. Â· Projected sales levels. Â· Market analysis. Â· Competitor analysis. Â· SWOT. Â· PEST. Â· Ansoff Matrix. Â· Product Life Cycle. Â· Boston Matrix. Â· Marketing Mix. Production Plan. Â· Quantity to be produced. Â· Plant, machinery and equipment required. Â· Quality levels required and means of assuring targeted quality. Â· Different stages of production for the product or service. Â· Timing of production to meet customer needs. Financial Plan. Â· Sources of finance. Â· Budgets, including estimates of start up and working capital. Â· Break even forecasts. Â· Simple cash flow forecasts. Â· Projected profit and loss accounts. Â· Start up balance sheets. Human resource plan. Â· The number of employees needed. Â· Skills and competencies. Â· Recruitment methods. Â· Training needs of employees. Constraints. Â· Legal. Â· Financial. Â· Social. Â· Environmental. Â· Technological. Â· Competitive. All of the information above is included in a business plan.
\n. \n Market Analysis Section of BP \n. \nThe market analysis section of your business plan should include detailed information that supports the notion that you really… do have a market to sell to. You need to present solid facts, numbers and statistics from reputable sources. You should identify your potential customers or target market, including demographics if you are selling to consumers (i.e. age, gender, income, local, regional or national) or key attributes if selling to businesses (i.e. number of establishments, revenues, location, etc.). Describe the size of the market and historical and potential growth. It is also important to discuss what motivates your target market to buy. \n. \nWhen researching your customers, the Internet is a great place to start. The World Wide Web yields thousands of articles and research reports on every imaginable topic, industry and consumer group. Government agencies also provide detailed information on the population and economy. For instance, the U.S Census Bureau publishes all sorts of information on the general public and business environment. Much of this data is derived from their Economic Census, which profiles the U.S. economy every 5 years and the Decennial Census, which is taken every 10 years to collect information about the people and housing of the United States. Besides the Internet, your local library, the yellow pages and even competitors will have information to help you define your target market and evaluate certain trends.
Financial Statements in a Business Plan As a rule of thumb, you should always include financials as part of a complete business plan package. Financial components are a… must when creating a business plan that is going to be presented to bankers or investors. They need to evaluate your financial projections to see whether or not your business is going to be profitable. They want to make money and are not going to invest in a business or loan any funds without seeing the bottom line - and all the numbers in between. Even if the plan is for internal uses, it should still contain financial projections. Everyone that looks at a business plan expects to see financials. At the very least, you should include a cash flow statement, income statement and balance sheet. Before preparing your financials, you should consult with an accountant, financial advisor or other finance professional to review the financial structure of your business. Do things add up and make sense? Has everything bee properly accounted for? Assumptions are okay, as long as they coincide with industry averages and competitive benchmarks. No one expects you to hit a line drive, but you better be somewhere in the ballpark. Remember to stick with generally accepted accounting rules - don't get too creative. Another Viewpoint If you have all the financing you need then no, financials are not necessary. If however you want to borrow money or get investors interested then financials are not only necessary, they may be the most important part. Having done M&A work for a Fortune 100 company I can tell you that a properly constructed set of financials can often tell an investor everything he needs to know after he has read the executive summary. Accepting my finance background bias, a business plan without financials is just a fairy tale! Does a business plan need to include financials? YES! ABSOLUTELY! Profits and positive cash flow are the rewards for your efforts as an entrepreneur. That is what you work for. And the financial projections in your business plan tell you whether you expect to earn enough to make it worth your while. Your business plan is also the road map you use to make your business work. It describes why and how you think that your business is going to be successful. Why else would you make a business plan? After the planning comes the execution of the plan. This is the proof of the pudding. And what better way to determine whether the pudding you planned tastes good than via the profits you make. So you need to check during the execution of your plan whether your plan was a good plan or needs to be adjusted. Why would you adjust your plan? Because profits are not in line with what you want. You know that profits are not in line with what you want by comparing actual profits with your planned profits. You can only make that comparison if you have made those financial projections when you wrote your business plan. That is why you absolutely need to include financial projections in your business plan. If you have trouble preparing those projections ask your accountant or a financial expert for help. But make those projections and include them in your business plan so you can determine whether you are on course to the profits you need or need to adjust your business plan.
The date and time to contact the authorities
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When you make an action plan, you should include influences.
Your name, name of company, logo, address and contact information are details that should always be included in the business card. To make it more effective, you can also incl…ude an image or graphic design. Source: http://www.digitalroom.com/business-cards-printing.html
In a sample business plan you should include many thing such as a budget, your planned income, the cost of the rent or lease of the palce you plan to hire. It may be hard to m…ake a sample plan if you look around the internet their are many helpful sites, with sample templates.