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Business Plan

Business Plan

imagesGenerally speaking there are two types of business plans.  A financial plan used to attract financing and capital; and the general business plan or masterplans which charts a way forward through strategic planning identifying the business goals, critical success factors and dates for your businesses future. Costs of business plans by business plan writers and business plan software range from zero through the $15,000 to $20,000 area.

 

 

Masterplans

Masterplans, business plan templates can be constructed with a free sample business plan at no cost and up to the $500 plus range for business plan software. Your options for masterplans  are searching the net for free business plan software or paid downloads, virtual plans that remain on the web in the cloud that are adjustable usually with a monthly cost and can be printed out. Purchasing business plan software from Staples or Office Depot is the retail option with the library and CORE offering other good resources for masterplans.

 

 

 

General description of a masterplans can be thought of as a series future P&L financial projections consisting of anticipated sales, cost of goods and GSA (general overhead, administrative cost and selling expense).  This is a very loose description but it gives you the idea in concept.  There are a host of additional schedules such as capitalization requirements, cash flow analysis, real estate business plan, etc. depending on how far you want or need to drill down.

 

 

 

As for the business planning process please refer to the steps to success series for most of the basic data needed for business plans.” PROJECT CHECK LIST FOR GOING VIRAL” calculates the cost and provides you with the schedule of your project.  “The STARTUP” identifies the production, logistics and supplier requirements.  “DISTRIBUTION WHICH BIG WAVE TO CATCH” and “ROLLOUT” identifies most of your selling and marketing costs.

 

Financial plans

If your purpose is financing and attracting capital, assume your financial vendor will be compiling your business plan software with their own business plan writers.  They insist on working up the business plan for two reasons.  The first is they need to understand and verify the nuts and bolts of your business.  The second is it is a profit center.  Be aware your best interests are not always the prime consideration of this type of plan.  You should also be aware if you move from one financing source to another, each institution will insists on compiling their plan which creates an additional cost to you! This is why you should at least do a rough business plan first, so you know your businesses viability and are ready to answer the forthcoming questions from your financial vendor.

 

 

Business plans are management tools which are living, breathing and constantly adjusted documents.  They are great for planning, scheduling and evaluating your progress plus determining your business future needs.

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Have a successful day,

Richard

richard@bizbuzznyc.com

 

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