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BUSINESS PLANS : Business Plan DefinitionDefinition (wikipedia):A 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. It may also contain background information about the organization or team attempting to reach those goals. The business goals being attempted may be for-profit or non-profit. For-profit business plans typically focus on financial goals. Non-profit and government agency business plans tend to focus on service goals, although non-profits may also focus on maximizing profit. Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community. A business plan having changes in perception and branding as its primary goals is called a marketing plan. Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers. External stake-holders of non-profits include donors and the clients of the non-profit's services. For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the IMF, the World Bank, various economic agencies of the UN, and development banks. Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans. Operational plans describe the goals of an internal organization, working group or department. Project plans, sometimes known as project frameworks, describe the goals of a particular project. They may also address the project's place within the organization's larger strategic goals. 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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