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Business plan woes, a cry for help from the community
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Arnage Dashwood
The Wayward Sons
#1 - 2012-01-26 18:43:26 UTC
This might not be the right place to post this, but in the past I've found the Eve community both supportive and generous, and I can't think of anywhere else to turn for friendly advice.

Me and my friend set up a small copy-writing business six months ago. Since establishing ourselves we have done several jobs and are making a decent amount of money. We are not, however, reaching our target market, which is larger national businesses. We recently decided to apply for a grant (from my university) specifically aimed at helping small businesses to establish themselves. We intend to use this money to advertise, to bolster our reputation, and attract some larger companies.

Applying for the grant requires a business plan, and as all applications for the grant are assessed on the quality of this plan, and competition is stiff, the plan needs to be a good one.

While me and my college are very good at writing sales pitches or slogans, we have little or no experience with writing business plans, and we're finding both the terminology and the structure of many on-line templates a little puzzling. Many seem illogical, or appear to ask for the same information repeatedly. I've done a fair bit of research myself but I don't feel I'm really making progress.

What I'm looking for is not for someone to do my plan for me, not by any stretch of the imagination. But someone with experience, a human being who could tell me what, ideally, would be included in a good plan, and what makes for a successful structure, as well as some pointers about the creation of cash flow graphs and break even tables, would be nice?
So Sensational
Ventures
#2 - 2012-01-26 19:02:02 UTC  |  Edited by: So Sensational
An "elevator pitch" - a three minute summary of the business plan's executive summary. This is often used as a teaser to awaken the interest of potential funders, customers, or strategic partners.
An oral presentation - a hopefully entertaining slide show and oral narrative that is meant to trigger discussion and interest potential investors in reading the written presentation. The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks. If a new product is being proposed and time permits, a demonstration of the product may also be included.
A written presentation for external stakeholders - a detailed, well written, and pleasingly formatted plan targeted at external stakeholders.
An internal operational plan - a detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders. Such plans have a somewhat higher degree of candor and informality than the version targeted at external stakeholders and others.

What said things should cover:

  • cover page and table of contents
  • executive summary
  • business description
  • business environment analysis
  • industry background
  • competitor analysis
  • market analysis
  • marketing plan
  • operations plan
  • management summary
  • financial plan
  • attachments and milestones


I have no experience (Well I started a business in High School and read the related courses so I know the very basic mechanics, but that's about it) and I quoted all of this from Wikipedia but if you ask any question about anything on here I can google it for you and provide an answer, written by another human. Like google.
Froz3nEcho Sarain
Imperial Shipment
Amarr Empire
#3 - 2012-01-26 20:12:23 UTC
Sensational kinda sums it up already. The most important parts of the business-plan are the SWOT-analyse (Look it up) and the finance part.

I have some experience with business plans and could send you one if know Dutch.

[i]~ When everything fades away, an echo is the only sound that will remain ~   ~ Chaos is a name for any order that produces confusion in our minds ~[/i]
Arnage Dashwood
The Wayward Sons
#4 - 2012-01-27 00:24:43 UTC
So Sensational wrote:
written by another human. Like google.


I thought everyone knew Google was writtern, compiled and moderated by giant space lobsters?

:P

I wasn't trying to sound self entitled or beg for easy answers, I just wasn't sure why every template I downloaded, be it from the UK government, HSBC or reallycoolbusinesssplans.martians, was completely different from the last in it's focus and wording, and if there was a right way to do it. I'm guessing that, as with all things, trial and error is really the only way to get it right. Thanks very much for the pointers though, and I shall endeavour to bend by mind to conquering a SWOT analysis :)
Lithalnas
Dirt 'n' Glitter
Local Is Primary
#5 - 2012-01-27 03:04:25 UTC
Really you are asking for two things:

1) A business plan

2) An Improved business model which reaches more customers

First I encourage you to get a book, its available as an audio book and is really good. "The Goal" by Eliyahu M. Goldratt
http://www.amazon.com/Goal-Process-Ongoing-Improvement/dp/0884271781/ref=sr_1_1?ie=UTF8&qid=1327633106&sr=8-1

Then I encourage you do look at what your customers want, not just your little customer but those big customers. If you can provide a product that is on the mark they will more readily agree to work with you. Once you have a product, know how to push stuff through your system, you can then go ahead and start making customer. Do trade show, cold calls, university business fairs (honestly, there are a lot of big people there looking for the next big thing) and corporation sponsored learning/startup events.

https://www.facebook.com/RipSeanVileRatSmith shoot at blue for Vile Rat http://community.eveonline.com/devblog.asp?a=blog&nbid=73406
So Sensational
Ventures
#6 - 2012-01-27 08:10:44 UTC
Arnage Dashwood wrote:

I wasn't trying to sound self entitled or beg for easy answers, I just wasn't sure why every template I downloaded, be it from the UK government, HSBC or reallycoolbusinesssplans.martians, was completely different from the last in it's focus and wording, and if there was a right way to do it. I'm guessing that, as with all things, trial and error is really the only way to get it right. Thanks very much for the pointers though, and I shall endeavour to bend by mind to conquering a SWOT analysis :)

It depends a lot on who your investors or expected investors are, and how much you want from them. A venture capital firm who's investing a million in your company may want less humor in the presentation than say, your friends and family.
Dunbar Hulan
Ministry of War
Amarr Empire
#7 - 2012-01-27 22:30:34 UTC  |  Edited by: Dunbar Hulan
Three main reasons why a business fails.

1. Under capitalization
2. Poor record keeping.
3. No coherent business plan
You have 2 out of 3

Before staring the business, how long did you prepare for going live? Have you identified your ideal client profile? In other words, you mention larger accounts and I get that they are tasty and would be nice to have, however, have you designed a process that will allow you to reach out to them knowing that you understand their needs and their process? example- demographics, age of business, type of business, revenue size, buying cycle and so on. Chasing an account because they are big is a folly. So identify your ideal client profile first. As you can imagine, this starts to get a bit complex and so you need to have some idea of complex sale solutions.

Structure, system and process of the organization? How are you set up ? Top heavy ? flat ? cross functional self managed structure?

I could go on and on, so rather than bore everyone else and also run the risk of amateurs trolling crap all over this thread, why not shoot me a mail and we discuss some ideas and strategies in private?

I have some experience in what you are looking for, during my MBA program, I advised numerous small business's on business plans, product placement, positioning, structure, etc.

 ** Manchester United - Paul Scholes= Genius**
2bhammered
Cyberpunk 2077
#8 - 2012-01-28 02:18:27 UTC  |  Edited by: 2bhammered
I work with business plans and creating businesses, with a risk capital investment firm, but mostly independent. Since I charge for my time, work in another country and would need insight into your field of business in order to give you good advice I can only offer you a few tips here.

First I like to begin by saying you should have had this in place before making the company to begin with, but that's life. Second thing I want to stress is, if you do not have a written contract and partnership agreement with your friend/business partner make one asap, even with family rule is, ALWAYS HAVE IT ON PAPER, any deal you make.

Third, since you have the means and you are able to I would strongly reccomend you to get in touch with a professional firm and have them make your business plan for you in collaboration with yourselves. A firm like mine, but we are operating in another country but if you want contacts I am sure I can give you one to contact in USA or wherever you live. Such work can cost as much as 10.000 USD (for small businesses) to make a complete business plan and strategy and so forth, but it all depends on the size of your business and to what extent you need help and with what. Just for the plan with nothing else you can get it for a lot less, again, it depends. Also depends on how serious you are and how much you can make and grow etc. It is very technicall, also I am bit drunk, it is weekend so don't judge me and I am on a freaking forumLol

Anyway, if you got any questions feel free to ask by PM, I cannot guarantee I will answer you, since I decline similar requests every week, but you can try.

Another thing to keep in mind, if you go for the grant be aware thatprivate investors and angels always frequent these gatherings, I know since I do that myself, and to have a plan in place before attending any presentations with that in mind to be prepared if you do end up talking to investors.

Last advice is, be yourself, the more genuine and honest the more an investor will be interested in investing. Especially your relationswith friend and partner have to be perfects and in synq. Not saying you do not have to be professional, but do not be afraid to ask for help, from investors, UNI, friends, family and even on here. I like to add, most business fail or succeed based on chemistry, in other words you as a person and your character. Be friendly, be social, get them business cards and print and hand out yours, make connections!! Also contact the most recognised firms for consulting, ignore previous posters reccomendations on books and other useless advice and 3 minute pitching lol.

Be genuine and have faith in your business etc. It will go a lot faster to learn from a professional than to go back to college and study this. Also it would be a waste of time, you got a business, sounds like you are doing good. All you have to do now is meet with a good professional and takeit from there.


PS: Last advice I will offer you is this, then I have to go and drink more P, point of the business plan is 2 fold, A, in order for you to have a strategy, B, why an investor should invest with you (which brings you back to point A since that is your strategy.) Everything in your business plan have to reflect that, make it your mantra "why should ANYONE invest in ME?" ok good luck!


"Contact a professional capital investment firm who is well establsihed with a good reputation. You wont regret it."