Writing an Effective Business Plan:
Careful Planning Stands Behind Every Success
One of the first steps in getting a new idea or venture "off the ground", or expanding, acquiring or refinancing a project, must be the development of a well-prepared business plan.
Preparing a proper business plan could not only prove to be time consuming and frustrating to a business owner, but lack of objectivity and understanding of the market, and competing technologies, products and/or services, structures, economic trends and financial planning could seriously impact on the effectiveness of the plan as well as the viability of the venture.
For these and other reasons, Standard Edge provides business owners an opportunity to prepare a business plan that is understandable to themselves, bankers and other parties.
After all, writing a business plan is not an academic exercise; It is an in-depth, logical, practical and critical analysis of you ideas, business strategies, personal goals, and short and long term objectives.
Standard Edge is chosen by their clients for their knowledge and expertise in specific disciplines.
Equally important are the creative skills in communications and writing that Standard Edge possesses so that business clients have an in depth understanding of how the business should grow and operate.
An analysis of thousands of proposals show that, 50% were rejected after a review of the summary, 36% because of poorly prepared plans and 11% because of unverifiable information, poor management or a lack of proper planning.
A well written business plan should set definitive goals and objectives and allow you to measure the results.
It should define clearly what business you are in, as well as where you intend to go in the future.
It should identify your strengths and weaknesses (if an honest and critical approach is taken in developing the rationale for being in business and continuing to be in business).
It would also show how successful or unsuccessful you will be you recognise the changes occurring every single day in your business.
A business plan is a selling document and as such should be organized and written to appeal to potential supporters of your business.
Obviously, a plan written for a bank may not provide the information that would be of interest to a strategic partner or key customer. Therefore, it is important to recognize that more than one version may have to be written depending on the target audience.
In our present business environment, "strategic planning" sessions are now being held by many companies to determine what next to do to survive the "ups and "downs" of the business cycle.
Always approach writing every new plan as an exercise in "forward planning".
This is because in writing a plan you must always ensure that the information presented in the plan is substantive, can be quantified, verified and confirmed by independent sources.
Therefore, writing a business plan requires careful thought and a concentrated effort as you must be able to show clearly what the business is going to accomplish, why it will be successful, how the venture will be financed, the return on investment for your client as well as the investor, and who is going to be responsible for achieving the stated objectives.
Careful planning stands behind every successful venture.
It is absolutely essential that you, when writing the plan, recognize the importance of proper strategising, planning and evaluation in undertaking this exercise.
When writing a business plan for a client, you must always recognize that, your business plan is a reflection of the business.
Ultimately the business plan will equate directly to the quality of the person writing the plan - and that is YOU!
Preparing a proper business plan could not only prove to be time consuming and frustrating to a business owner, but lack of objectivity and understanding of the market, and competing technologies, products and/or services, structures, economic trends and financial planning could seriously impact on the effectiveness of the plan as well as the viability of the venture.
For these and other reasons, Standard Edge provides business owners an opportunity to prepare a business plan that is understandable to themselves, bankers and other parties.
After all, writing a business plan is not an academic exercise; It is an in-depth, logical, practical and critical analysis of you ideas, business strategies, personal goals, and short and long term objectives.
Standard Edge is chosen by their clients for their knowledge and expertise in specific disciplines.
Equally important are the creative skills in communications and writing that Standard Edge possesses so that business clients have an in depth understanding of how the business should grow and operate.
An analysis of thousands of proposals show that, 50% were rejected after a review of the summary, 36% because of poorly prepared plans and 11% because of unverifiable information, poor management or a lack of proper planning.
A well written business plan should set definitive goals and objectives and allow you to measure the results.
It should define clearly what business you are in, as well as where you intend to go in the future.
It should identify your strengths and weaknesses (if an honest and critical approach is taken in developing the rationale for being in business and continuing to be in business).
It would also show how successful or unsuccessful you will be you recognise the changes occurring every single day in your business.
A business plan is a selling document and as such should be organized and written to appeal to potential supporters of your business.
Obviously, a plan written for a bank may not provide the information that would be of interest to a strategic partner or key customer. Therefore, it is important to recognize that more than one version may have to be written depending on the target audience.
In our present business environment, "strategic planning" sessions are now being held by many companies to determine what next to do to survive the "ups and "downs" of the business cycle.
Always approach writing every new plan as an exercise in "forward planning".
This is because in writing a plan you must always ensure that the information presented in the plan is substantive, can be quantified, verified and confirmed by independent sources.
Therefore, writing a business plan requires careful thought and a concentrated effort as you must be able to show clearly what the business is going to accomplish, why it will be successful, how the venture will be financed, the return on investment for your client as well as the investor, and who is going to be responsible for achieving the stated objectives.
Careful planning stands behind every successful venture.
It is absolutely essential that you, when writing the plan, recognize the importance of proper strategising, planning and evaluation in undertaking this exercise.
When writing a business plan for a client, you must always recognize that, your business plan is a reflection of the business.
Ultimately the business plan will equate directly to the quality of the person writing the plan - and that is YOU!
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