Business Plan Lesson 8: Executive Summary
This is the eighth part of a ten part series on business planning. If you want to start from the beginning, sign up for the Free Weekly Business Planning Series and recieve a blank business outline too! Although it appears at the front of the plan, a good executive summary is written last. The summary captures the highlights of the entire business plan document, just as a traveling itinerary reflects the key happenings of a trip but does not account for every minute spent. The executive summary should be clear and concise, and between two and three pages in length. Lenders, investors, and...
read moreBusiness Plan Lesson 7: Milestones and Critical Risks
This is the seventh part of a ten part series on business planning. If you want to start from the beginning, sign up for the Free Weekly Business Planning Series and receive a blank business outline too! Milestones are directly related to your business goals. Each milestone will have a series of specific tasks which must be accomplished along the way. The milestone checklist captures the action items outlined throughout the plan and enables you to assign time lines and responsibilities. An additional column may be added to record approximate budget allocations for specific milestones. As you...
read moreBusiness Plan Lesson 6: Financials
This is the sixth part of a Ten part series on business planning which you can join at any time. To start from the begining sign up for the Free Weekly Business Planning Series and recieve a blank business outline too! As you drive along, your car’s gauges give you up to the minute feedback on your progress. The gas gauge tells you when it is time to stop and re-fuel. The same is true for the financial statements in your business. Bankers expect entrepreneurs to be optimistic and overestimate sales projections. Be sure to substantiate how your projections were developed. The...
read moreRediscovering My Focus
If you are a regular reader of Business Notes from Roundpeg, you may have noticed I seem to be writing more posts on Business Planning. This is not an accident, as I have chosen to return the focus of the blog, and my business to business planning. Don’t worry, there will still be a mix of social media, marketing, pr and networking for small business owners, because thinking through these elements are integral to your planning process. But the emphasis on business planning is really a return to basics. Seven years ago when I started Roundpeg, writing business plans was the core...
read moreBusiness Plan Lesson 5: Operations
This is the fifth part of a ten part series on business planning. If you want to be sure to see all the posts sign up for the Free Weekly Business Planning Series and receive a blank business outline too! If the strategy section outlines where you are going, the operations section describes the type of fuel you will put in your engine. Here you begin the process of dividing the tasks and responsibilities so no important details are forgotten, and resources are allocated appropriately. Sales and Sales Management – The plan should include discussion on who will conduct sales and...
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