I have always been campaigning for the concept of a “1 Pager”. If you can’t get your point across on one page then you don’t have a point.
In our previous article we looked at what your plan’s outline or content should cover. And everybody agrees it should include an “Executive Summary’.
Why is it called an “Executive”? I suppose it is because a lot of “great” 100 page proposals were presented to the top management of companies who did not have the time to wade through the confusing pages, or who did not understand all the technical jargon and demanded a concise short version in layman’s terms.
eHow defines an it as follows:
“An executive summary previews the main points of an in-depth report; it is written for nontechnical people who don’t have time to read the main report.”
From this follows that it must contain a summary of all elements or areas of the plan, namely Market Analysis, Company Description. Organization & Management, Marketing & Sales Management, Service or Product, Funding Request and Financials. Logic therefore says that this is the last section to be written.
There is not a definitive guideline on how long the summary should be. We favor a “one pager” approach, but if you have to go longer try and keep it to two pages. Some references say it should never exceed 10 percent of the length of your plan.
This section is by far the most important part of your plan. If you can’t succeed in exciting your audience to get involved with the plan through the Executive Summary, the rest of the plan will be wasted effort. This section must in a compelling and exciting way show how you are going to produce a return on investment by delivering unique value to your target markets.
Other pointers to keep in mind include:
Purpose – Make the purpose of the plan clear; Teaser – It is a teaser to entice your audience into the plan; Empathy – Put yourself in your readers’ shoes and test if the summary will excite them; Strong and positive – It is not a good idea to dilute it with weak language; Expectations – Know your audience and make sure you tailor the summary to their needs and expectations; The bottom line of the Executive Summary is really this:
If it does not excite and entice the audience, your plan will not be read.
Write it, test it, rewrite if necessary and continue doing that until you have it right.
Happy planning. Make it a challenging, exciting and creative experience.
Category Archives: business plan
Using Surveys For Business Development
When you want to make sure that your business is moving in the right direction, you need to make sure that you are taking surveys on a regular basis. Although you have many options that are available to you, don’t rush into the type of survey software that you are using. After all, choosing the right software solution is not only going to make a difference in the response to the survey itself, it is also going to make a difference in the accuracy of the data that you receive.
The Internet provides you with a very easy way to make sure that you are getting answers to the questions that you need. Many people are using online survey software exclusively but other people are using it along with surveys that run on cellular telephones or even paper questionnaires to make sure that they get more well-rounded answers to the questions that they have. One thing is certain, the more opportunities you give people to be able to take advantage of your surveys, the more likely it is going to be that you will get the information that you need.
One other item that you may want to consider is to use the online survey software along with a telephone survey as well. Keep in mind although the world does tend to be rather connected there are still a lot of people that don’t even own a PC. You want to make sure that you give them a voice in your survey as well in order to get the most accurate results that are available.
Business Plan – A Plan is Key If You Want to Succeed
Anyone who wants to start a business and has the intention of succeeding has to come up with a business plan. You have to plan so that you can be able to see where you are going and where you are coming from. A good business plan need not be complicated. If anything the simpler and more direct it is, the better. It will help you put things into perspective.
It is essential that you create a detailed description of what your ultimate goal is, the purpose for your goal and the steps you must take to achieve your objective. This will be the backbone of your business and is used as a tool with the aim of having a sense of direction to as to how you intend to operate your business, sell your product or service and your income strategy.
A business plan should be able to help you attract investors. This will help you get much needed funding and aid in restoration of creditor confidence especially when times are tough or business is low. In addition, you will also be taken seriously and appear to be a professional. Potential lenders will see that you fully comprehend what it takes to start and operate a business.
Ensure that you have done proper research in regards to what you intend to do. The business plan will fill in the gaps as you go along you can use it as a guideline and make the necessary changes as your business continues to grow. Once you have your business plan in hand, be ready to take action and turn your dream into a reality.
Business Planning
A good business planning process is highly important for any new business to succeed. If you are in business for yourself or work for someone else, a plan relating to how you are going to succeed is needed.
Why do people want to start a business? To be successful, make money, and be their own boss. Now, just because you are not your own boss does not mean that you would not benefit from this free tool.
If you are in management, to ensure a well-maintained work environment, a plan has to be developed, implemented and adhered to.
If you are responsible for managing others, a good management system is a must. There are steps that have to be followed to maintain customer service. A large percentage of your business will probably depend on repeat business and word of mouth referrals.
When people are pleased with the service they receive, they let others know. This will increase your business and when business increases, the profits can skyrocket.
The best leaders tend to be those who have worked their way up from the bottom. They understand how most of the departments work and they can easily connect with what each team is going through.
In order to be a good representative of your company, if someone needs to know about a particular item or service, you need to know what to tell them. This says that you care enough about the business to know everything you can possibly know.
You must lead by example, walk the walk, not just talk the talk. You must earn and maintain your credibility as a leader in order to ensure your team stays focused and committed to the growing the business.
A great plan will take into consideration the ever-changing market and the number of companies that are waiting in line to take your place should you fail.
Make your business profitable by teaching your associates to also plan for their future success. Afterall, your business or department will only be successful if the individual members of the team are successful
A good working relationship with the people you employ is vital to your success. Employees can do a great job or they can put in their time and accomplish very little.
If motivated properly by you, the success of your business can be shared by all. When profits increase, the amount of money you can afford to pay employees will also increase.
Getting this across to your employees takes skill and proper planning. Be sure to communicate “what’s in it for them”.
Painting Business Management – The Business Plan, Or Planning to Win
Ask around, ask people why a business needs a plan. Chances are you will hear, “You need a business plan in case you need financing, and the bank wants one from you.
How about this? You need a business plan because you are involved in the creation of a business that will employ you and others for, hopefully, a long time.
People make better plans when they go on vacation than they do when they enter the adventure of their own business.
Carry it further, when you go on vacation you want to know where you are going. Unless it is your goal to just roam around, and in that case your vacation may not get you any further than the grocery store and the hardware store. Your business could possibly provide for you for anywhere from 20 to 50 years or more. And in this environment today regarding retirement, this business may provide for you long after you can work.
So why not have a direction? Why not have a game plan? Think about it. What are the short term goals that you want to achieve through this business? Long term? Profit? How much do you want to provide for the people that help to propel your company forward? How big? How much money do you want the company to create? Maybe your goal is to remain small and super profitable. Plan how you are going to do that.
Part of the business plan in the beginning is your vision, your dream. That is great. Did your dream include being your own boss? Did it include free time with your family. The point I am trying to make is that you don’t have to be a General Motors or Toyota to have or need a business plan.
This small job, creating a business plan is likely to affect you and a lot of people for a long and profitable life.