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Raising Capital and other
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Lincoln Financial?s Retirement Plan Services Business Concludes National Save for Retirement Week wi

View Original Article Fri, 24 Oct 2014 07:31:00 -0700
Lincoln Financial Group?s Retirement Plan Services business concludes National Save for Retirement Week with tips and insights for savers at five career checkpoints. Throughout the week, Lincoln shined a light on a different career stage and shared key actions that savers can take on their road to retirement readiness.

The 2014 Rice University Business Plan Competition to Ring the Nasdaq Stock Market Closing Bell

View Original Article Tue, 14 Oct 2014 07:00:00 -0700
ADVISORY --

Start With a Simple Business Plan and Grow It as Needed

View Original Article Thu, 09 Oct 2014 15:30:00 -0700
Begin with a lean document that can guide your company's efforts internally. Add to it later on if investors or bankers need more details.

Global MVNO Business Planning: Core Planning and Next Generation Services

View Original Article Fri, 24 Oct 2014 13:59:00 -0700
DUBLIN, October 24, 2014 /PRNewswire/ -- Research and Markets  ( http://www.researchandmarkets.com/research/8c45wc/global_mvno ) has announced the addition of the  "Global MVNO Business Planning: ...

Business awards: HCA smashes five-year plan in terms of growth

View Original Article Wed, 22 Oct 2014 13:14:01 -0700
AS part of its initial five-year business plan, Hewitt and Carr Architects pledged to buy and move into its own building. In fact, it has achieved that in under three years ? a testament to the growth the business continues to experience since its launch. It has also taken on two additional staff in 2014, with the prospect of further job creation in the new year. Co-founder Mark Carr said: "We ...

Capital One announces Bayou Classic business challenge

View Original Article Thu, 23 Oct 2014 10:15:44 -0700
New Orleans, LA ? Capital One Bank announced this week its Capital One Bank Bayou Classic Business Plan competition, which it hopes will help small businesses in Louisiana grow and create jobs.

Create a Personal Business Plan That You'll Really Use

View Original Article Tue, 07 Oct 2014 12:45:00 -0700
Develop a customized tool that will serve to focus you on your most important objectives. Write it in user-friendly prose so you'll check it weekly.
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How to Prepare a Business Plan

 

When you are in the market for raising capital, a written business plan helps you to think through your business ideas so that you see the weaknesses and strengths of your venture more clearly.  It gives you the opportunity to address any concerns ahead of time. You can also use your plan in connection with your private placement offering when meeting with advisers, business partners, banks, and potential investors. Your business plan should include the following items:

 

1. Legal name of the business.

2. Owners name and percent of ownership.

3. Information on the business.

 

A. Type of Business

 

Outline the general and specific nature of the business.
  • Outline the company's goals and objectives.
  • Describe your products and/or services. State who buys the product and who the final users are (be brief here, because you will be discussing your customers thoroughly under Market Analysis).
  • Describe how the product or service is sold to customers (walk-in stores, sales representatives, mail order catalogs, telephone orders, Internet orders, etc.).
  • Comment on quality of product/service.
  • Estimate average price of product/service.

 


B. History

 

If your business is new, say so. If you have an existing business, discuss age of the company, prior owners, how the business was acquired and length of time operated by you, the public image or reputation of the company, number of employees, last year's sales volume and profit, and any significant events that have affected the company's development.

 

C. Business Location

 

Describe size (square footage) and building amenities.

  • State whether rented, leased or owned. If rented or leased, state from whom and under what conditions. Provide a copy of your lease.
  • Describe type of access to building (major roads, freeways, walking, parking, etc.). Is the location convenient for customers and, in general, good?
  • State business hours.

 

D. Personnel

 

State current and future figures for number of employees and type of labor (skilled, unskilled, etc.).

  • State sources of labor (especially minorities, handicapped, veterans, or other socially or economically disadvantaged groups) and timing of hiring (or layoffs).

 

 E. Economic/Accounting

     

  • Describe how this business makes money.
  • State how and by whom prices are determined.
  • State what financial records will be kept, and who will keep them.

 

 F. Production

 

 Describe what inventory, raw materials and/or supplies the business uses (initial and continuing).

  • How easy or difficult is it to get necessary supplies? If it is difficult, how will you deal with potential or actual shortages?
  • Are the prices of your supplies steady or fluctuating? If fluctuating, how will you deal with changing costs?

 

 

 

 G. Legal

 

State form of business (sole proprietorship, partnership, corporation) and status (not yet applied, applied and pending, obtained).

  • State licensing agreements (type and licensing source) and status (not yet applied, applied and pending, obtained).
  • State zoning requirements and status (verified, OK, rezoning).
  • State insurance requirements (type, source) and status.
  • Describe compliance with building codes.
  • State compliance with health code requirements.
  • Describe any other laws and regulations that affect the business and the measures you have taken to comply.
  • Trademarks, patents, licenses and copyrights should be checked for legality.
  • Address your private placement offering.

 

H. Customers

 

 Define your market and your customers (wholesalers, retailers, consumers, government, etc.).

  • Why does this market need your product/service? Is your product or service a fad or a continuing need? Will it soon be phased out or recreated by a new technology?
  • List the characteristics of your typical or average customer including: age, location (market area), average income/sales, employment and other important information. The more you understand about your market, the better you can sell to it.
  • What do customers like and dislike about your product or service?
  • Estimate the size of your market in terms of number of customers.
  • Estimate how much the total market will spend on this or similar products or services in the next year.

 

I. Environment

 

Discuss any external environmental factors (economic, legal, social or technological) that affect your market or product/service. Environmental factors are those that have significant effects on your operation, but over which you have no control, i.e., county growth, rising energy prices, etc.

 

J. Competition

 

Discuss the number of your competitors (direct and indirect) and their location, age, reputation, size, market share, etc.

  • For your major competitors, discuss, in detail, their product service features, pricing, location/distribution, reputation/image, size (in sales or number of customers), changes in market share, etc.

 

K. Competitiveness

 

Discuss how your product/service meets market needs and how you compare with the competition in terms of product/service features, locations/distribution, price, other.

  • Compare your estimates of the market's demand and the competition's supply.

 

L. Sales Strategy

 

Present your marketing strategy. Tell how you will get the edge on your competition and get customers. This is your action plan to get business.
Your product/service will sell because one or more of the following is attractive: features, pricing (high, medium, low), distribution system (limited, widespread, etc.) and promotion.

 

M. Promotion

 

Describe how you plan to promote your product/service: advertising, direct mail, personal contacts, sponsoring events, word-of-mouth, trade associations, etc.

  • If you plan to advertise, state what media you will use: radio, television, newspaper, magazines, telephone book Yellow Pages, billboard, etc. State why you consider the media you have chosen to be the most effective.
  • State the content of your promotion or advertising: what is your product/service, why is it attractive, business location, business hours, and business phone number. When you are designing your advertising, remember you are selling to satisfy someones need. Refer back to your Market Analysis to ensure you've designed your advertising with your target market in mind.

 

N. Management

 

For owners and key management personnel, present resumes, personal financial statements and tax returns for the last three years. Describe prior experience that qualifies management to run this type of business. State how much time management will devote to running this business. Discuss local contacts that may assist you.

 

O. Financial

 

Sources and Uses

  • Describe the project to be financed.
    State where the money to pay for the project will come from, and specifically how it will be used. The most common uses are equipment, leasehold improvements, inventory and working capital.
  • If the business is an existing one, include business tax returns and financial statements for the last three years. Financial statements should include:
  1. Balance Sheet
  2. Income Statement
  3. Accounts Receivable
  4. Accounts Payable
  5. Debt Schedule
  6. Reconciliation of Net Worth

 

For both existing and new businesses, project the following financial statements for the next 3 years (monthly for the first year, annually for the second and third): 

  1. Operating/Income Statement
  2. Cash Flow
  3. Balance Sheet

There is no real format. Much will depend on the nature of your business. If you have a simple concept, you may be able to express it in very few words. On the other hand, if you're proposing a new kind of business or even a new industry, it may require quite a bit of explanation to get the message across.