Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less
    How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less
    How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less
    Ebook290 pages3 hours

    How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less

    By Sharon Fullen

    5/5

    ()

    Read preview

    About this ebook

    A business plan precisely defines your business, identifies your goals and serves as your firm's resume. The importance of a comprehensive, thoughtful business plan cannot be over-emphasized. Much hinges on it: outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, achievement of your goals and objectives. Yet many small businesses never take the time to prepare one.

    Now it's easy and you can do it in less than an hour. This new book will demonstrate how to construct a current and pro- forma balance sheet, an income statement and a cash flow analysis. You will learn to allocate resources properly, handle unforeseen complications and make good business decisions. The companion CD-ROM is not available for download with this electronic version of the book but it may be obtained separately by contacting Atlantic Publishing Group at sales@atlantic-pub.com.

    Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president’s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.

    This Atlantic Publishing eBook was professionally written, edited, fact checked, proofed and designed. The print version of this book is 288 pages and you receive exactly the same content. Over the years our books have won dozens of book awards for content, cover design and interior design including the prestigious Benjamin Franklin award for excellence in publishing. We are proud of the high quality of our books and hope you will enjoy this eBook version.

    LanguageEnglish
    PublisherAtlantic Publishing Group Inc.
    Release dateOct 30, 2005
    ISBN9781601380777
    How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less

    Read more from Sharon Fullen

    Related to How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less

    Related ebooks

    Small Business & Entrepreneurs For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Your Business Needs a Succession Plan: Here Are the Basics

      Nov 11, 2020

      In Part 1 and Part 2 of this series on selling your business, we’ve examined the questions facing owners who entered 2020 ready to make their move, breaking down how the COVID-19 pandemic changes the situation and how to increase a business’s value i

      3 min read

    • Article

      15 Small Business Ideas to Launch from Home This Fall

      Oct 18, 2019

      Side hustle, small business, or side project. Call it what you will. In the gig economy that we're living in, everyone can materialize their longing to build something profitable and amazing outside their regular 9-to-5 jobs. Not only are there free

      6 min read

    • Article

      Defining a Target

      Jun 24, 2021

      Defining a Target
      4 min read

    • Article

      KITTIES & CAPPUCCINOS

      Aug 6, 2021

      ACUP of coffee, a slice of cake and a chat with your best friend at your favourite café – that’s basically all you need for a relaxing afternoon. But at this café there’s an extra ingredient to enhance the feel-good factor: a furry feline is likely t

      2 min read

    • Article

      4 Steps to Effectively Transition or Sell Your Business

      Jun 17, 2019

      Did you know 70% to 80% of middle-market, closely held businesses put on the market do not sell? And 83% of businesses lack a formal, written transition plan? I've had many discussions with middle-market business owners about planning for the future

      3 min read

    • Article

      Biz Start-Up Guide: Step 3 Make Plans Think Through Important Aspects of Your Future Home Business

      Sep 29, 2022

      Order at https://homebusinessmag.com/home-based-business-guide/ You know what type of business you want to go into, and that's a great start. You probably can't wait to begin. But before you do, it's essential to make plans. You need to think through

      11 min read

    • Article

      To Succeed, Small-Business Owners Need to Put Their Own Finances First

      May 8, 2020

      In today's rapidly changing and unpredictable economic landscape, small businesses are under constant pressure. This entails planning for the future or any surprises along the way. No one could have predicted the worldwide spread of COVID-19 and the

      3 min read

    • Article

      Planning in your Business Should Be Easy

      Sep 29, 2022

      In this Fall 22 issue, we offer a “sneak-peak” of the chapter on “Business Planning” in the HomeBased Business Start-Up Guide. This chapter discusses making plans for important objectives in your business. This would be a good time for a short “refre

      2 min read

    • Article

      Make a Funding Plan Part of Your Start-up Capital Quest

      Oct 18, 2019

      Our cover story this issue will help you get the funding needed to launch and build your business. Make sure that you include a funding plan as part of start-up funding. A funding plan will help you to maximize scarce startup dollars. There is never

      1 min read

    • Article

      Six Deadly Start-up Sins

      Sep 23, 2022

      Six Deadly Start-up Sins
      2 min read

    • Article

      What Is A Finance Function?

      Jun 12, 2023

      What Is A Finance Function?
      4 min read

    • Article

      Warning: Your Business Is Not a Retirement Fund!

      Dec 11, 2021

      I often receive inquiries from business owners seeking to increase their company’s profitability, margin, etc. Many of them view the business as their retirement plan. Although it’s an asset you could use to fund your retirement, I believe focusing o

      5 min read

    • Article

      Better Rewards, Fewer Risks

      Mar 19, 2018

      Better Rewards, Fewer Risks
      4 min read

    • Article

      3 Ways to Increase the Enterprise Value of Your Family Business

      Aug 31, 2022

      Many entrepreneurs focus on revenue, innovation and people to lead their enterprise forward in the future – but business tends to get in the way.  Finding, recruiting and hiring talent, maintaining relationships with key customers and vendors, dealin

      3 min read

    • Article

      Start Off Your New Year with a Business Check-Up

      Dec 29, 2022

      The beginning of a new year is a great time to give your business its annual “Check Up.” With a simple overview of key business areas, you will set your business up for greater success in the new year. Here are several areas to start with: Financial

      2 min read

    • Article

      Handing Over The Reins

      Jul 22, 2019

      Handing Over The Reins
      2 min read

    Related categories

    Reviews for How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less

    5/5

    1 rating0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less - Sharon Fullen

      Contents

      TABLE OF CONTENTS

      INTRODUCTION & FAST PLAN HOW-TOS

      Look for the FAST PLAN Icon

      Your Business Concept

      Develop Your Business Concept

      Elevator Pitch

      Develop Your Elevator Pitch

      Rules for Writing a Business Plan

      What Does a Business Plan Do?

      Purposes of Your Business Plan

      Why Do You Need a Plan?

      Who Will Read Your Business Plan?

      What Interested Parties Should Find in Your Plan

      How Your Business Plan Will Be Assessed

      12 Questions Your Plan Must Answer

      Standard Business Plan Format

      Fast Plan Preparation

      Mistakes to Avoid

      Business History

      Mission Statement

      Business Goals and Objectives

      Business Ownership

      Location and Facilities

      Mistakes to Avoid

      Product/Service Description

      Production of Products and Services

      Competitive Comparison

      Future Products and Services

      Mistakes to Avoid

      Market Research

      Industry Analysis

      Market Segmentation

      Market Trends and Outlook

      Industry Participants

      Purchase Processes/Buying Patterns

      Mistakes to Avoid

      Target Markets

      Mistakes to Avoid

      Key Competitors

      Mistakes to Avoid

      Analysis of Competitive Position

      Pricing Strategy

      Mistakes to Avoid

      Promotion Strategy

      Mistakes to Avoid

      Your Key Personnel

      Starting-Out Needs

      Operating Budget

      Crunching More Numbers

      Income Projection

      Balance Sheet

      Assets

      Pro-Forma Cash Flow

      Financial Assumptions

      Financial Software Help

      Mistakes to Avoid

      Executive Summary

      Coming to a Conclusion

      Support Documents

      Mistakes to Avoid

      Getting Organized

      Create a Research List

      Publish Your Plan

      Making a Great Presentation

      Business Plan = Strategic Plan

      Internal Business Plans

      Revising and Updating Your Business Plan

      Keeping Your Plan Fresh and Viable

      Should You Rewrite Your Plan?

      Additional Business Plan Resources

      Down by the River Gift Shop

      Executive Summary

       Statement of Purpose

      Industry Overview

      Marketing Strategy

      Operating Procedures

      Personnel

      Financial Data

      Financial Documents

      GLOSSARY

      INDEX

      getting started

      INTRODUCTION

      Starting your own business is an exciting adventure. Close your eyes and visualize how the showroom looks, dream of the latest high-tech equipment, imagine the sounds of a busy store, taste your signature dish, and see the faces of satisfied customers. Now think about writing a business plan for your new business. The reverie is over, right? Take a deep breath; help is on the way. How to Write a Great Business Plan for Your Small Business in 60 Minutes or Less was written to give first-time entrepreneurs as well as seasoned business owners the support and guidance they need to write a practical, no-nonsense business plan in 60 minutes or less! This is your FAST PLAN.

      While some consider writing a business plan a necessary evil in order to secure financing from a banker or investor, you need to realize that your business plan is far more than a fancy sales tool; it is a powerful management tool to help you set objectives, focus on your goals, and avoid potential pitfalls. The process of writing a business plan enables you to consider all the aspects of starting a business—ranging from identifying opportunities to exploring risks to putting dollar amounts to ideas; the business plan makes you think about the highs and the lows, the advantages and the disadvantages, and the potential for success and failure. Although there are businesses that are successful without a business plan, significantly more businesses that fail to plan also fail to succeed.

      The concepts and tools presented in the FAST PLAN approach can be used to expand any or all of the facets of a business plan to create a dynamic and powerful tool for complete business evaluation. If you are uncertain whether your FAST PLAN meets your needs, have a trusted banker, businessperson, or advisor review it before you depend on it to obtain financing. To find local advisors, check the last chapter for national organizations that provide support for entrepreneurs.

      To help you create your FAST PLAN, an excerpt from a real business plan is included at the end of each business plan section. Use the information in the chapters and the real-life application to help tailor your FAST PLAN. For more guidance and examples, there is also a complete business plan titled Down by the River included in Chapter 13.

      LOOK FOR THE FAST PLAN ICON

      If the 60 Minutes or Less part of the title is what made you buy this book, you probably don’t want to spend days learning how to write a business plan or devote lots of late-night hours to the process.

      This is why each chapter has FAST PLAN tips—just look for the following icon:

      If you know what you are looking for, then go to the Fast Plan Table of Contents, find the FAST PLAN clock icon, and skip right to the section. This book covers all you need to know to research and write a business plan.

      Table of Contents

      TABLE OF CONTENTS

      Develop Your Business Concept

      Develop Your Elevator Pitch

      Rules for Writing a Business Plan

      Purposes of Your Business Plan

      12 Questions Your Plan Must Answer

      Quick and Dirty Business Plan Q&A

      Write Your Mission Statement

      Write Your Objectives

      Business Ownership

      Sourcing Considerations

      Product or Service Analysis

      Key Market Analysis Questions

      PEST Analysis Framework

      SWOT Analysis Framework

      Customer Demographics

      Competitor Analysis

      Break-Even Analysis

      Promotional Mix

      Income Projection Statement

      Balance Sheet Statement

      Cash Flow Statement

      Executive Summary

      Revising and Updating Your Business Plan

      chapter 1

      PREPARING TO PLAN

      Writing a complex, formal business plan can take several days, weeks, or even months. From research through printing the last page, the time you take depends upon the research you need, your writing skills, and available time and supporting analysis required. It isn’t uncommon for an inexperienced entrepreneur to become bogged down and lost in the whole process.

      With a FAST PLAN, the process is streamlined, concentrating on the most critical aspects of a successful business plan. To complete your FAST PLAN, you will likely need to do some research beyond what you know already, and the amount of time required will depend on your current business skill level, industry experience, and ability to create projections. Each chapter in this book provides in-depth guidance so you’ll always have answers at hand.

      YOUR BUSINESS CONCEPT

      Before you can start your FAST PLAN, you need to decide what you want to accomplish with your business. What is your business idea about? The best way to do this is to start writing. Thinking about your concept is important, but taking the time to write your concept makes it real, and that reality can then be critically analyzed.

      Use the following outline to write your concept. This concept will be used and expanded on throughout your FAST PLAN, so be as specific as possible in simple-to-understand terms.

      DEVELOP YOUR BUSINESS CONCEPT

      Once you have your business concept well defined, you need to condense the concept into its most salient points. Often you will have only a minute or two to sell someone on your idea, so you need to convey your idea succinctly, clearly highlighting its most compelling aspects. To do this, you need to create an elevator pitch.

      ELEVATOR PITCH

      The elevator pitch is a brief description that takes no longer than an elevator ride to deliver. It neatly sums up what you want to offer (your business concept), capturing the excitement and potential of your idea.

      Example Opening:

      I’m opening a restaurant featuring exquisite dinners from every region of China. I’ve hired a chef from a popular New York establishment, and renowned restaurant designer Barbara Lazaroff is working on the interior design.

      To help you write your elevator pitch, imagine you are alone in an elevator with billionaire Donald Trump. Here is your chance to pitch your idea to him. Can you capture his attention, sell him on your idea, and engage his entrepreneurial spirit before you reach the twenty-second floor?

      Focus on facts that answer the following questions:

      DEVELOP YOUR ELEVATOR PITCH

      Your elevator pitch is a useful tool that helps you focus on your goals. At the end of your elevator pitch, make sure you ask for something. You never know who might be able to solve a problem, refer you to someone else, or offer invaluable advice. Here are a few examples of what you might ask:

      • Do you know anyone in the gift industry who could represent my imported line?

      • Have you found a ‘Big Bank Officer’ interested in small business startup loans?

      • "I’m looking for investors in my new widget. Would you be interested in learning the details? Do you know anyone else who might

      Enjoying the preview?
      Page 1 of 1