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Start your Engines Or Put on the Brakes?

Entrepreneurs often have trouble with two phases of the business plan process: getting started and crossing the finish line. Below are a few tips to help you get going Set goals for the completion of each section of the plan. It shouldn’t take you more than 30 days to create your business plan. Pick a Continue Reading

Business Plan Tips It’s Time For Reality.Com

Business Plan Tips Because of the fascination with Internet stocks on Wall Street, entrepreneurs are creating e-commerce companies by the thousands, in order to get a piece of this seemingly large, rich pie for themselves. The result of this rush to market has been in many cases a lot of hastily conceived, sloppily planned ventures Continue Reading

Business Plan Tips Highlight the Positive, But Don’t Ignore the Negative

While it is of course important to talk about what a great opportunity the company represents for a potential investor, don’t forget to discuss the risks inherent in the venture also. These are sometimes painful for an entrepreneur to include–sitting down and thinking about what could go wrong and what could cause them to fail–but Continue Reading

How to Write a Business Plan Investors Won’t Laugh At: Keep the Projections Realistic

By Brian Hill Entrepreneurs are frequently advised to make sure the financial projections in their Business Plans are “realistic” before they present them to potential investors. But what does that really mean? Some entrepreneurs interpret that advice to mean their projections should be ultra-conservative. Taken to an extreme, this means you are presenting what amounts Continue Reading

Business Plan Tips Can You Sell Your Product

Yes, But Can You Actually Sell This Product? It’s amazing how many people put a statement like the following in their plan: “The total market for our product is projected to be $1 billion in five years. If we only get 10% of it, we will be a $100 million company in five years.” Well, Continue Reading

Business Plan Tips Highlight the Positive, But Don’t Ignore the Negative

While it is of course important to talk about what a great opportunity the company represents for a potential investor, don’t forget to discuss the risks inherent in the venture also. These are sometimes painful for an entrepreneur to include–sitting down and thinking about what could go wrong and what could cause them to fail–but Continue Reading

Free or Almost Free Business Plan Assistance

The thought of preparing a business plan can be overwhelming. You don’t know where or how to start or what should be included. Sometimes all it takes is a nudge in the right direction. There are a number of places where you can receive free business plan assistance, or almost free, both online and in Continue Reading

Three business plan tips

Don’t make the assumption that the reader can understand your assumptions. By the time you are finished with your projections, you will be very familiar with the assumptions you used to construct your financial models. A first time reader of your plan will not. Are you certain that you made it easy to follow your Continue Reading

Business Plan Tip: Don’t Tell People You Have Little or No Competition

This is a Fatal Flaw seen in many business plans. Everyone likes to think that their product or service is so unique that no one else can successfully compete against it. In rare instances, a new technology may come on stream that truly is a new and better solution to a problem, but even then Continue Reading

Business Plan Tip: Hold the Scenarios

Many people think that the more complex their financial models are, and the more “what if” scenarios they concoct, the higher their chances of being funded. A variation of this is the plan that has projections seemingly for decades. Fifty pages of imaginary numbers are not better than five. Particularly in this age when technology Continue Reading