Business Plan Writing Key Strategies: Beat the odds with a solid plan of action
An effective plan is THE KEY to unlocking the door to your future business success. Did you know that of the only 15% of businesses that actually make it to year 3, 85% of them have a business plan. This seminar will explain why a business plan is necessary as well as cover the basics of researching your target market and documenting your sales goals and how you intend to achieve them.
You will learn about:
1) the importance of developing your business through effective marketing strategies,
2) best methods to advertise and promote your business,
3) how to generate financial statements and create a budget,
4) and the general format that a plan needs to have in order to be acceptable to banks and investors.
Running your own business can be both rewarding and challenging. Researching and writing an effective business plan will go a long way to making sure you are a success. It truly is a great investment of time. When you write an effective business plan, you’re doing the kind of work that Fortune 1000 companies do in order to increase their profits year after year. You’ll gain clarity and confidence in making decisions based on the knowledge and understanding of principles that make the best businesses successful.
You’ll learn the kinds of businesses that are most likely to succeed in our current US economy, as well as those businesses that are probably not a good bet.
You’ll learn about how your own mindset, belief systems, confidence, and decision making habits, often unconscious, can lead to your business succeeding or failing.
You’ll learn the top reasons that start up owners list as to what took them out of the game. In other words, you’ll learn the most common mistakes that make small businesses fail within the first 4 years and, moreover, how to avoid those mistakes.
Did you know that the Small Business Administration, a Federal government agency, has reported that over 60% of all small businesses fail within the first 4 years? So, you’re probably asking, “How can I beat the odds?” We’ll cover all the common mistakes and help you navigate the waters so you don’t drown. You’ll also learn the logical but often overlooked marketing and sales strategies that can lead to an increase in the return of your investment of time and money. Without sales, and the marketing necessary to get those sales, you’re business will not last. We will teach you in simple, step-by-step, plain language, exactly what homework you’ll need to do in order to develop effective marketing strategies. When you understand your own strengths and weaknesses, that is, understand your own personality from an objective point of view of a good psychologist, and when you understand the psychology of your preferred client or customer, you’ll know exactly what to do, and what not to do, to generate the greatest profit from the lowest risk of marketing investment. The strategies you’ll learn are simple.
The main reason that unsuccessful business owners don’t apply them is that they simply didn’t take the time prior to starting their business to do their homework. There is no magic formula for writing a small business plan, but, when you take the time to write a plan, the process and the product will give you confidence and clarity in making decisions based on your knowledge of what is most likely to bring you the greatest profit in the shortest amount of time.
Plus, if you are looking to raise capital to either start a new business or do a turn around or expansion of an existing business, you’re far more likely to get all the money you need since it will be obvious to those with money to lend or invest that you’ve done your homework. Did you know that the 2nd most common reason that small businesses fail is that they started their business under capitalized. In other words, it took longer and was more expensive to get started than the business owners predicted, and they simply ran out of money. How can you avoid this very common mistake? The answer is obvious, start out with a lot more money available to you than you think you’ll ever need. An effective plan can help you raise funds from a wide variety of sources.
Be sure to check out our Access to Capital seminar after you’ve attended the above preliminary seminars.
