Podcast #4 -- Ingredients of a Business Plan
I'm Dr. Ron Graham, and this is start me up! with light and clarity for young entrepreneurs, volume 1, number 4.I'm often asked how to go about writing a business plan. No real surprise there, as I've taught on the subject for several years and written or co-written a few myself. I have to point out that there is no one true format for a business plan. Some may think there is a single format that works, but history tells us otherwise. It is said that the original business plan for Cisco Systems could be written on the back of a business card: "Cisco networks networks."
That is an extreme example, but it reminds us that there are as many formats for a business plan as there are people willing to read one. Your job, in writing one, is to make sure it's neat, correct, and answers the questions your readers will ask. My job in this podcast is to remind you of some of those questions. I will recite the questions, which come in five major categories by my reckoning, and I will let you know which are the most critical, as the critical questions are the ones that you must put forth the greatest effort to answer.
Major Ingredients of a Business Plan
- The market!
- Can your management team get you there?
- Do you know whom it is you are selling to?
- Do you know whom it is you are up against?
- Are you working with reasonable assumptions?
- The money!
- What's in it for ME?
- How much do you have? What are you doing with it?
- How much do you need? What will you do with it?
- What other assets do you have?
- The product!
- Does it work?
- Is it safe?
- Do you have a prototype?
- Can you manufacture it?
- The selling!
- Do you have customers already?
- Do you have a marketing plan?
- Do you have a customer service plan?
- Do you have a quality improvement plan?
- The staff!
- Are you hiring? Who? When?
- Is your staff loyal? Are your workers enthusiastic?
- Do you have a training and development plan?
- Do you offer the staff a piece of the business?
For this podcast, I was yet again my own producer. The music is "The Judgment," by the central NJ hard-rock band Danger! Von James! I use this space to promote young artists as well. Find this great young band at myspace.com/dangervonjames. [Note: I love these guys. "Using the song in a podcast is pretty kick ass of you." LOL]This has been start me up! volume 1, number 4, and I'm Dr. Ron Graham -- I've been your host. If you'd like to contact me, the e-mail address is rongraham01 AT gmail DOT com. I'll spotlight you or your start-up if you'd like. Just ask me how. Until next time, keep moving forward!
Labels: education, young entrepreneurs
posted by Ron @ 12:45 AM
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