Wednesday, September 14, 2016

How To Write A Business Plan: Part 2 "The Company Description"

Ok, after the executive summary, this is probably the most important part of the business plan.  This tells your reader exactly how you are, where you are located and what products or services you provide.  More detail below the video. 

How To Write A Business Plan: Part 2 "The Company Description":



The company description generally includes:
  • Company name – The official name of your business as registered in the state where you do business.
  • Type of business structure – Sole proprietorship, LLC, partnership or corporation.
  • Ownership/management team – Names of the key people behind the company.
  • Location – Where is the company headquartered.
  • Company history – When was the business started, what inspired you to start the business, what need does your company fulfill?
  • Mission statement – A clear statement that represents the purpose of your company.
  • Products/services and target market – A brief overview of what you plan to sell and to whom.
  • Objectives - An outline of what you want to accomplish in the immediate future based on the data in the rest of the business plan as well future growth goals.
  • Vision statement – A statement about how you envision the future of the company.
These sections can all be given a bold heading within the Company Description page(s) and a short brief outline of each section should be written.  The company history can include growth highlights or benchmarks met to-date.  You want to describe accurately exactly what products and services you are trying to sell to the consumers.  Some business plan writers add the "competitive advantage" to this section stating why their company has an advantage over the competition.  This is ok or it can be added in the marketing section of the business plan. 

Pro Tip:  Most people that step out on their own to develop their business plan end up with a mediocre product due to writers block.  They just can't seem to put more words on the page to describe their business or sometimes they can't even start.  Start this section by putting short sentences or even incomplete sentences under each heading stated above.  Then go back and add another sentence or strengthen the point you are trying to get across.  Bullet points are acceptable when outlining services or products for sale.  If your product is unique this is where you want to highlight why it is unique and advantageous to the customer. 

We are moving along with our basic outline of a standard business plan which has the following sections:
If you need help developing or writing your business plan, feel free to reach out to me.  Hope this was helpful,

The PushYourRank Team
Posted By: Nicholas Coriano

About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com


How To Write A Business Plan: Part 3 "The S.W.O.T. Analysis"

Moving along in our series on "How To Write A Business Plan" we are now in section 3 of the business plan, The SWOT Analysis. 

See the full video "How To Write A Business Plan: Part 3 "The S.W.O.T. Analysis" " below:



This section of the business plan is optional, as explained in the video, some of my clients do not want it in the business plan because it may shine a negative light on the business plan.  Regardless a company will be at a huge advantage if it systematically draws out a SWOT analysis for its' business venture.  So what is a SWOT analysis anyway?

A S.W.O.T. Analysis is a look at the (1) strengths of a company or business plan (2) weaknesses of a company or business plan (3) opportunities of a company or business plan and (4) threats to a company or business plan. 

The best way to explain this is to give you an example.  To stay within my core competencies I will quickly develop a SWOT analysis for my business plan writing service on my website at NicholasCoriano.com:

Strengths:
  • My experience writing over 200 business plans.
  • My finance degree to help my clients with financial projections.
  • My law degree to help clients build a business plan that has limited legal liability.
Weaknesses:
  • My current status as a sole proprietor and lack of team.
  • My geographic location may lead some potential customers to not hire someone far away.
  • My full workload on most weeks does not allow me to take on more clients.
Opportunities:
  • The world-wide reach of the internet allows to me market to a greater number of potential customers.
  • Proper search engine optimization (SEO) techniques can lead to cost effective marketing.
  • The use of interns can lead to potentially working with more clients.
Threats:
  • Well established consulting firms may compete with my services and increase their marketing budget making it harder for me to reach my target customer.
  • Software like LivePlan or other business plan building software may lead customers to write and develop their own business plan.
  • Organizations or VCs may stop requiring a business plan leading to lowered demand for business plan writing services.
Ok, as you read through this SWOT analysis certain things should become clear; your threats and weaknesses are also the places within your business plan or idea that can be converted to strengths and opportunities.   For example the weakness of being a sole proprietor can lead to an opportunity to hire interns and expand the business. You can have a SWOT analysis that is a simple as what is above or a full report totaling 10 pages.  They come in all shapes and sizes.  What is helpful about the SWOT analysis is that you will be able to explain throughout your business plan how you will capitalize on your strengths and oppurtunies and fix or hedge your weaknesses and threats. 

We are moving along with our basic outline of a standard business plan which has the following sections:
If you need help developing or writing your business plan, feel free to reach out to me.  Hope this was helpful,

The PushYourRank Team
Posted By: Nicholas Coriano

About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com

Tuesday, September 6, 2016

How To Write A Business Plan: Part 4 "Market Research & Industry Analysis"

I have written over 200 business plans for clients large and small and I am documenting how to write a business plan for those who want to write their own business plan.  If you need a business plan writer for hire I am here to help, if not, these post will help you develop your business plan on your own.

This post explains how to write the market research and industry analysis section of your business plan.  This is by far the easiest part of the business plan to develop.  In this short video I explain how to develop this section of the business plan:


To keep it simple, the Market Research & Industry Analysis section of a business plan is all "copy & paste".  This means you are not writing anything original in this part of the business plan.  First you find a great source.  For example, if you are writing a business plan for ecommerce you may add the statistics for revenue or sales in the ecommerce industry in the USA.  A great source would be the US Census bureau sales data.   You will copy and paste these numbers/statistics into your market research section. 

Why copy and paste?  In the financial projections section of the business plan you will be making assumptions on how much you will make (your revenue projections).  You financial projections are based on the data you researched in your market research and industry analysis section.  This is basically an educated guess on how much money you will make based on your research.  You want a reliable basis (a true premise) to your assumed financial projections.  Your market research, which should include footnotes & sources of where you found the data, are the basis for these assumptions.  

In addition to factual data you may want to conduct surveys or polls to see what your target market or industry is thinking. 

Include as much data and research as possible,  Things to include in this section are statistics on your potential customer base, trends in your industry, population of a certain geography you are targeting and data/research from legitimate and well respected sources.   

We are moving along with our basic outline of a standard business plan which has the following sections:

If you need help developing or writing your business plan, feel free to reach out to me.  Hope this was helpful,


The PushYourRank Team
Posted By: Nicholas Coriano



About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com

Saturday, September 3, 2016

How To Write A Business Plan: Part 5 "The Marketing Plan"

Welcome back to our series on "How To Write A Business Plan", this is Part 5 "The Marketing Plan" section.

From personal experiance marketing my own companies I can tell you in theory marketing is easy.  Simply place your product or service in front of someone who wants to buy it.  In practice however, as is the case more often than not, it is not that easy.  Finding out where your potential customer is begins the marketing product.

See Video How To Write A Business Plan: Part 5 "The Marketing Plan"



Marketing 101 teaches us the 4 P's of marketing.  These things listed below should be well thought out before investing in a marketing strategy.  


Business Plan Writer Pro Tip For Writing The Marketing Plan Section of Your Business Plan

It is very easy to ramble off the ways you can market a product, i.e. online, tv, radio etc, but make sure that your financial projection in your business plan accounts for these marketing expenditures.  Avoid marketing efforts that research shows will not be viable and understand that more money in marketing does not equate to more revenue.  You must be willing to test marketing strategies and adjust for those that work and those that do not work.  More targeted marketing is always more effective marketing so try not to advertise on a billboard when a flyer will do.

Hope this was helpful,

The PushYourRank Team
Posted By: Nicholas Coriano

About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com 

Saturday, August 20, 2016

How To Write A Business Plan: Part 6 "The Management Summary & Organizational Plan"

Back with Part 6 of "How To Write A Business Plan" as vlogged by business plan writer Nicholas Coriano:

See Video: How To Write A Business Plan: Part 6 "The Management Summary & Organizational Plan" ......


We are moving along with our basic outline of a standard business plan which has the following sections:
  1. Cover Page
  2. Executive Summary
  3. Company Description
  4. SWOT Analysis
  5. Market Research & Industry Analysis
  6. The Marketing Plan
  7. Management Summary & Organization Plan (our current section)
  8. Financial Projections
  9. Conclusion

The Management Summary & Organization Plan section of your business plan should be broken down into two parts.
  • The Management Summary: Here is where you list all the managers and executives of the company.  Make sure to include relevant work experience and summarized resumes for each manager/executive of the company. If there is only one person this section should be short.  Some entrepreneurs include "Gaps In Management" sections which showcase where the business could use other managers or executives and forecast which individuals the company is targeting to recruit.
  • The Organizational Plan: This shows the hierarchy or systematic layout of the human resources of the company.  The following is an example of an organizational chart for a company:

The question always arises from my clients whom ask "What if I am alone or do not have a team yet, do I still have an organizational chart in my business plan?".  The answer is yes, it is simply a pro-forma organizational chart.  This means that the chart describes your management layout after you get funded or the business comes into being.  To illustrate, the above graph could be inserted into a business plan and all the managers and supervisors would be planned to be hired after the business starts or sometime thereafter. 

Hope this was helpful,

The PushYourRank Team
Posted By: Nicholas Coriano

About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com

Saturday, August 6, 2016

How To Write A Business Plan: Part 7 "The Finacial Projections"

Welcome back to part 7 of how to write your own business plan.  In this section we talk about the "financial projections" section of the business plan.  We are following along with our basic outline of a standard business plan which has the following sections:
  1. Cover Page
  2. Executive Summary
  3. Company Description
  4. SWOT Analysis
  5. Market Research & Industry Analysis
  6. The Marketing Plan
  7. Management Summary & Organization Plan
  8. Financial Projections (our current section)
  9. Conclusion
The financial projections generally include the following sections:
  • Use of Proceeds: How your company will use the initial finds in the bank account before the business actually launches.
  • Assumptions: What assumptions are you making when forecasting your financials. (i.e. "there are 1,000 potential customers and we believe our marketing budget can convert at least 100 customers at $100 per person per sale).
  • Forecasted Revenues: How much you expect the company to make.
  • Forecasted Expenses: How much you expect the company to spend to make the money projected in the forecasted revenues. 
These sections are generally showcased as cash flow statements, balance sheets and income statements. 

See Video: How To Write A Business Plan: Part 7 "The Financial Projections" ......



Hope this was helpful,

The PushYourRank Team
Posted By: Nicholas Coriano

About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com

Wednesday, July 6, 2016

How To Write A Business Plan: Part 8 "The Conclusion"

We are now onto the final part of the business plan, the conclusion. The conclusion of your business plan should be very similar to the executive summary on page one of the business plan.  When writing the final page/section of the business plan, make sure to fully summarize the business plan and pitch your angle.  It is okay to have a little bit of a sales pitch here at the end of the business plan.  So if you are looking for an investment or loan here is where you bring the whole business plan together and convince the reader that you have covered everything that needs to be covered. 

Again, with a sales-tone you want to cover the entire business plan so the last page should have paragraphs in this order (just an example):

  • Paragraph 1: Summarize the company (this should be a summary of the "Company Description" or page 2 of the business plan.
  • Paragraph 2: Summarize the strengths, weaknesses, opportunities and threats to your business plan.  Be sure that you are addressing how you will handle the threats and weaknesses specifically.  
  • Paragraph 3: Summarize the market research and why you believe the data and research in the business plan justifies your position.
  • Paragraph 4: Summarize your marketing plan in one paragraph and assure the reader that the marketing efforts laid out in the business plan are sufficient to drive sales.
  • Paragraph 5: Summarize the team the how the organization will be laid out and how it will be effective to meet company goals.
  • Paragraph 6: Summarize the financial statements which should include your yearly revenues, expenses, profits and break even analysis as well as the assumptions for those numbers.
  • Paragraph 7: Thank the reader for the oppurutnity and place a call to action such as "Call 111-1111 for more information" or "Email pushyourrank@gmail.com to find out more about our business. 

See Video: How To Write A Business Plan: Part 8 "The Conclusion" ......



Hope this was helpful,

The PushYourRank Team
Posted By: Nicholas Coriano

About The Author: Nicholas Coriano is a Business Plan Writer & Entrepreneur, Web Developer, Social Media Marketer, SEO Consultant and the founder of this blog, www.NewYorkWebsiteDesignCenter.com, and many other online businesses.  While developing websites for his own businesses and marketing his entrepreneurial ventures online, he began blogging useful tips and "how-to" articles on PushYourRank.com for reference purposes.  To retain Nicholas for help with your business plan, website launch or product launch, email PushYourRank@Gmail.com