Business Services

Archive for November 7th, 2009

Business plan software is something that often gets overlooked and isn’t considered to be a necessity for some reason.  In my opinion, business plan software is essential, it is not a luxury. I am a huge advocate of business planning. When people ask me  if they need a business plan, my response is, “Absolutely!” You see, starting a business without a business plan is akin  to  starting college without a degree plan. If you don’t know where you are going, you won’t know how to get there. You will waste your time and your money if you are not following a plan. It’s really  that simple!

So, you know you need a business plan, but what about  business plan software? For business planning,  there are really three alternatives: 1) crafting your own business plan from scratch; 2) hiring a business plan writer or business planning consultant; or 3) using business plan software to write your own business  plan. Each of these alternatives has its own advantages   and disadvantages.

Writing your own business plan from scratch is certainly a possibility. Doing so gives you the freedom to format and arrange the plan in any way that you see fit. On the other hand, doing financial projections, which are necessary  for  the  purpose  of budgeting and financial planning, can be difficult to do  without a business plan program,  or at least financial projection software or spreadsheets.

Hiring a business plan writer makes sense for some people.  A business  plan writer is generally well-versed in business planning and will have insight that will assist you in preparing a comprehensive business plan that takes everything into account. The disadvantages to having your business plan  professionally written are the expense associated with the initial plan, and the limitations that exist in regard to changing it as your business evolves, which is something that business plan software empowers you to do.

Business plan software is relatively inexpensive when compared to hiring  a  professional business plan writer or consultant. However, when compared to doing your own plan from scratch,  it may seem like an unnecessary expense. Business plan software does have many advantages. A good business plan software package, like Business Plan Pro by Palo Alto, has the headings  and  categories for a business plan already set up for you. It also has  guidance throughout the business planning process that  explains  what  to include in each part of your business plan.

What I really love about Business Plan Pro is that it is so  easy to do financial projections using the business plan software, whether or not you understand  accounting.  The main financial sections include a section for start-up costs,  one for income projections, one for a proforma balance sheet, and one for  a projected cash flow statement. Information that input into one of the financial forms automatically transfers calculations to the other financial statement forms making the process of projecting your financial plan a breeze.

Another huge advantage I see in regard to business plan software is that when you use business plan software to create your own business plan, you can make changes to it anytime you need to. It doesn’t become a stale  document  that sits on the shelf and collects dust. A business plan should be  always evolving. You should update your business plan frequently including new goals, objectives and milestones. You should also adjust your financial projections regularly for the purpose of budgeting. Business plan software makes it easy to do.

If you choose not to use business software, and to create your own business plan from scratch, you will need some guidance unless you are a  professional  business planner yourself. The Small Business Administration  at  sba.gov has some excellent resources and guides about business planning. If you choose to hire a  professional business plan writer, do  review their qualifications and references and make certain that you understand exactly what is included in the business planning services they are offering.

http://www.UndergroundTrain… In early 2008 I spoke at the Secret Society of Traffic and Conversion Seminar for my friends Buck Rizvi and Brock Felt. The attendees paid thousands to be there but I…

The theoretical advantages are numerous…Being able to identify your top performers, being able to identify your staff that aren’t pulling their weight, being able to determine a baseline level of productivity required for the position, being able to come up with measureable incentives for future improved performance.
But these are all theoretical. It’s much harder to quantify productivity in a knowledge-based position than it is say a manufacturing position. It’s much harder to figure out WHAT is appropriate to measure and WHAT is appropriate to incent.

Accounting for Small Business and Contractor Income – with an easy and simple award winning approach to bookkeeping

http://www.abn.org.au The Australian Businesswomen’s Network provides business education, training and mentoring for women business owners. Hear what these members have to say.

In this video:

Dom…

I have one of the Matthew Lesko books, and see some possibiliites for small business grants. They all ask for a formal business plan in order to apply. I have everything set up in my head, but don’t know the format to write one.

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An original idea can be patented and marketed with the help of a lawyer, who can draw up the proper paper work and submit it to the appropriate offices. Obtain an official patent and understand cre…