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BUSINESS PLANS : Writing a Business DescriptionThe first thing you need to concentrate on when you write the business description is its structure. By structure we mean the type of services, i.e. wholesale, retail, food service, manufacturing, or service-oriented. State this right away in the description, along with whether the business is new or already established. Describe the products or services you intend to market Be specific in showing how you will give your business a competitive edge. For example, your business will be better because you will supply a full line of products; competitor A doesn't have a full line. You're going to provide service after the sale; competitor B doesn't support anything he sells. Your merchandise will be of higher quality. You'll give a money-back guarantee. You'll provide parts and labor for up to 90 days after the sale. Competitor C has the reputation for selling the best French fries in town; you're going to sell the best Thousand Island dressing. Describe how your Business will create revenue Ask yourself, "How can I turn a buck? And why do I think I can make a profit that way?" Answer that question for yourself, and then convey that answer to others in the business description section. You don't have to write 25 pages on why your business will be profitable. Just explain the factors you think will make it a successful business, like the following: it's a well-organized business, it will have state-of-the-art equipment, its location is exceptional, the market is ready for it, and it's a dynamite product at a fair price. Show why your business is going to be profitable. A potential lender is going to want to know how you're successful business is going to be profitable. Factors that support your claims for success can be mentioned briefly; they will be detailed later. Give the reader an idea of the experience of the other key people on the business management team. They will want to know what suppliers or experts you've spoken to about your business idea and their response to that idea. They may even ask you to clarify your choice of location or reasons for selling this particular product. The business description can be a few paragraphs in length to a few pages, depending on the complexity of your plan. If your business plan is not too complicated, keep your business description short, describing the industry in one paragraph, the product in another, and the business and its success factors in three or four paragraphs that will end the statement. While you may need to have a lengthy business description in some cases, it is our opinion that a short statement conveys the required information in a much more effective manner. article by: entrepreneur.com Writing a Business DescriptionThe first thing you need to concentrate on when you write the business description is its structure. By structure we mean the type of operation....Business Plan DefinitionA business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals...Free Sample Business PlanRemember that your plan should be only as big as what you need to run your business. While everybody should plan a outline to help run a business, not everyone needs a complete formal business plan...Design Business Plans to Start a BusinessBusiness planning is about results. For every business plan, you need to make the contents of your plans match your purpose. Don't accept a standard outline just because it's there.Five Business Plan MistakesIf you are preparing to raise capital from either an investor or a bank, you’re probably writing a business plan. Here are five of the most common mistakes that I have seen as a result of my experience as a commercial banker and corporate-finance consultant...Do I Need a Business Plan for a Loan?Not everyone who is going to start a business begins with a business plan. It all depeneds on what size and kind of business. If you are a freelance designer or you are a one man show data entry business...Three key messages for designing business plansThree key messages for designing business plans you must clearly and convincingly communicate to your lender or investor...How to Write a Business PlanWriting a business plan can be ohat is worth doing, you need to take the time and aquire some information....Other related Articles: Start-Up Founders Forget About Business Plans? Dec 15, 2009This past summer, HubSpot Inc. received several offers from venture firms to invest in the marketing software start-up all without a formal business plan. ...Develop a business plan to make more money October 27, 2009It's time for you to develop a business plan, whether you're just starting up or are already running a company. ...Wow Investors : Web-Savvy Business Plan August 27, 2009As an online business owner or potential startup, one of the major documents you will need to get funds from potential investors is your business plan. ...Home Based Business Plans August 23, 2009Business school students spend a lot of time learning about different strategies to create a successful business plan. All businesses should have a fully ...How far will a business plan get you? June 30, 2009Business plans can be useful tools. But a new study finds that they do little to help entrepreneurs get financing. ...Why Business Plans Don’t Deliver June 30, 2009An economic downturn is a great time to start a business....and prepare a business plan? ...The business plan- who, what, when, where June 16, 2009Once you've decided you may want to start your own business, you need a business plan as well as two important milestones ...Business Plan Competitions Offer more then Money Apr 2 2009In a time when money is tight and funding is tougher than ever to get, winning a business plan competition could provide a nice boost in cash for a start-up. ... |
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