Friday, May 9, 2008

Writing Business Plan Basics For Successful Funding

The two most important reasons for writing a business plan will help you succeed. The first is so you can convince a lender or a potential investor your business is worthy of investing in or lending money to. The second is to develop a good marketing plan.

To get started, you'll want to conduct preliminary research. You'll discover: your competition, and how they're promoting and and marketing their products, services and business. You'll quickly find how much easier writing a business plan becomes when you've done this type of research. That said, here's a very quick way to start.

Use a Free Business Plan Template

You can download a free business plan template.(Be sure to go to the resource box and click the link to get yours.)

Review it and begin by doing some simple research.

Complete these basics and include them in your finished plan.

1. Describe your Business - What you do, what products you sell

2. How will you sell your Business,Products or Services- What's your marketing approach?

3. Competition- Who is your competition? How does your approach or business vary from theirs?

4. You Operating Procedures - Describe your approach to business

5. Insurance- Make sure you are covered for liability

6. Financial Information should include: A 3-Year Proforma (Projections of earnings and expenses), A Balance sheet, A List of Your Equipment, A Break-even Analysis

7. Your Resume

Remember why you're writing a business plan...Keep this close in mind as you compile your information and research data.

Are you writing a business plan to present to a banker?...Or will you use it to raise startup money from an investor. If so, you'll want to create a compelling reason for someone to invest in you, your ideas and your business.

Bear in mind, they will also be looking for how much of your own time and money you have invested prior to seeking them out.

A banker will be looking at how this business is going to generate enough cash flow to pay back the money you are seeking. You are writing a business plan to sell him on you and your ability to

sell your products or services and make a profit. An investor is looking at how much money he'll be able to make in return for his investment.

As you work with your financials, make sure you project sales and profits, so you can show your potential investment partners (the banker, private investors,etc.) your cash flow.

(Remember this: Cash flow and profits are two different things.) Cash flow pays your expenses...profits are what's left over after you've paid your bills. Your banker will be looking at cash flow, investors will be looking for profits.

Be Thorough...Be Convincing...

But be sure you put some of your own money into the picture. You should consider at least 10%, but an investment of 25% is better. Remember, you are asking someone else

to take a risk on you. Ask yourself, why should they take such a risk, when you haven't...Think about it. They will.

Writing a business plan should be one of the first tasks you take on when starting your business. If you look at it as a way to discover more about your chosen business, you'll see it as fun and exciting.

You may find some surprises along the way, including opportunities you never considered before, ways to market, or even new products. Using a business plan template can ease your task.

Mark Your Growth with Bookkeepers

The entire procedure of bookkeeping is not only limited to the maintenance of records and lodging data entries, it is in fact a way to estimate the economic growth of any business organization. Hence it would not be wrong to state the fact that the development of every business oriented organization is directly proportional to the efficiency of the bookkeeping department. And for this reason, it is completely obligatory for the companies to hire the bookkeepers who are not only well qualified but are also blessed with the attributes of efficiency and sincerity. As this task is extremely grueling yet significant for the progress of the firm, it is important for the accountants to show sincere commitment towards each and every aspect of their work. Therefore, if you are also looking for such competent accountants with quality performance level then the option of bookkeepers New York can provide you with a decent solution.

Bookkeepers New York is considered as one of the most efficient accounts with superb sense of dedication and sincerity toward their work. They completely understand the fact that the development of any company is basically dependent on the finance management and thus make all possible efforts to present a quality level of their services. Moreover, the bookkeepers from New York are always ready with intelligent ideas and other business strategies for introducing better business prospects for the company. Many small companies and recently established business firms can draw serious profits through the utilization of such added facilities and services. These professional make extensive use of accounting softwares and techniques, so that greater amount of work can be sorted in short durations. Those business firms, who take assistance from bookkeepers in New York, stay assured of getting remarkable services with perfect sense of timing.

In any business organization, the owner is supposed to handle all the primary objectives of the company and thus he cannot afford to spend huge amount of time in searching and recruiting the accountants. But this in turn does not mean that the accounting department can be overlooked due the busy schedule of the owner of the organization. Hence, a more simplified solution of bookkeepers in New York is widely available in the business world, so that the owners can simply transfer their burden of big financial projects to these accountants and generate better prospects of business development. Secondly, on economic basis also, this option is much more affordable. The accountants from such service providers charge reasonable amounts and the client also gets freedom from the expense of added allowances that are mandatory with the in -house accountants.

After considering all such benefits, it is quite easy to accept that the taking bookkeeping services from outsourcing firms such is undoubtedly more profitable. And thus the requirement of competent bookkeepers such as Bookkeepers in New York, become all the more important for meeting the challenges of the combative business society in the present scenario. Therefore, getting definite accounting services is basically the first step take in order to accomplish the highest standard of development.

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