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

How to Advertise at a Local Gas Station

Gas stations are located in highly visible areas at major intersections, on the perimeter of strip malls and near fast food restaurants. During busy periods hundreds of customers have the opportunity to see the advertising at the station. Take advantage of that potential with several different advertising methods and media. Keep marketing messages short, succinct 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

Business Plan Tips Not Everyone Has a Flair for Fiction

Business Plans are essentially works of fiction–documents that talk about what you imagine or hope may occur in the future, not what has already occurred. This type of writing is difficult for everyone. You’ve heard of “writer’s block”. The problems you are having keeping the words flowing are precisely the ones faced by the great Continue Reading

Business Plan Tips: The Hard Truth About Software

There are a number of business plan software packages that sell thousands and thousands of copies. Software can be very helpful in developing financial models and preparing projections. But they are not going to write the narrative sections of the plan for you, so you may be disappointed in the results you get from using Continue Reading

How to Make an Appraisal Business Work

Appraisals are required for a number of different reasons in various industries, including artwork, insurance, jewelry, sales of businesses, real estate and for automobiles, to name a few. Appraisers objectively define the value of an item through varying methods, such as comparable sales, physical condition, quality and the market. Get your appraisal business up and Continue Reading

Business Plan Tips FYI: CYA (Whenever Possible)

In the opening few pages of the plan you need to have a disclaimer section that protects you from certain types of legal liability and as well as protects the confidentiality of your ideas.  Your attorney needs to draft this page for you, but the general themes to include are:  Disclosure of risk  (you are Continue Reading

Business Plan Tips The Plan Is Your Baby–It Needs To Look Like You.

The business plan should reflect the personality of your management team, and the type of company you want to create. As the reader goes through it, he Should get to know the people involved in the company, their vision, their objectives, and their enthusiasm for the company and the industry. Tell the story of your Continue Reading