Business Plan Buyer Beware

In today’s world, where so much business is a result of Googling, including those seeking a business plan, the maze of great advice is clearly woven within the top web sites for business plans. However, within good content are flawed templates or software that doesn't result in the goal of obtaining funding for such a large majority of businesses. Our company receives at least one business plan each week from frustrated entrepreneurs that Google business plans and are often led astray. Bankers and investors regularly trash plans using these templates and software types created plans that i) always have unnecessary information not relative to a particular type of business, ii) are missing key information and iii) lack a concise Executive Summary (ES) that has been too often disguised as an Introduction. 95% of investors only want to see a quality ES first!

We are approached by business owners and entrepreneurs that want to raise from $25,000 to hundreds of millions on businesses as diverse as a small restaurant or a wind farm, yet most people expect or inquire on their business plan without offering any information and simple ask "what does it cost to do my business plan" without even knowing a single fact about the planned venture! Cookie cutter plans that get trashed by bankers using templates are offered for the same price by lone wolf so called business consultants...at the same price no matter the plan and goals.

We offer a free consult on draft plans or intentions, where we can quickly pin down your goals and needs and develop a plan within constraints that are deemed viable by bankers and investors. Custom plans can be affordable when a deep team with varied experience in hundreds of businesses is available to be part of your team..

Feel free to ask for more information at tim@thebusinessplanconsultants.com

The Stimulus Package Has a Positive Affect

Entrepreneurs and business owners are clearly responding to the opportunities available from the Administration’s stimulus package. I recently attended the www.GoGreenExpo.com in Philadelphia, and I will be attending the next Expo in New York City in April. The attendance of business owners, entrepreneurs and consumers was overwhelming to support the major impact to the economy of sustainable and renewable energy evident in the responses to our advertising throughout North America that has doubled during the last six weeks.

Realizing the tremendous interest of entrepreneurs, we are writing a report, The Stimulus Package and Its Effect on the Renewable Energy Industry, about the stimulus package and its effect on green business and the renewable energy industry. Hundreds of thousands of business owners can benefit if they take advantage of one or more initatives of the stimulus package. This is great news for our economy!

Feel free to E-mail me at tim@thebusinessplanconsultants.com for more information on how we can help you.

Stimulus Package Depends on Entrepreneurs

While the economy surely feels the affects from reduced consumer spending, the real estate and financial markets as issues of substance, the President’s stimulus package is a great head start to improving the economy … providing small business owners and entrepreneurs step up to the plate. Our company (www.thebusinessplanconsultants.net) advertises on a very regular basis in over 100 US cities, with responses to our ads reduced by more than 50% from September into mid-January from the last 1-2 years. That is the so-called “bad news.”

The “good news” is the additional marketing efforts that all businesses has offset issues like lower consumer spending or fewer businesses/entrepreneurs expanding or starting up operations during a slowed economy. The “better news” is that over the last several weeks, we have seen a dramatic increase in the number of responses to our ads, but also the quality of the plans being presented by those who see opportunities within the stimulus plan and, even more so, are gaining confidence overall that they want to be in on the ground floor and beyond when the economy rebounds.

Throughout history, there have been economic downturns, some worse than others like the current slump that will surely get worse in some areas like job losses or foreclosures. One thing that is assured is that for every downturn there is the upswing that follows. We are pleased that in the huge vastness of economic issues, in our microcosm of the world, we see important signs of confidence from entrepreneurs that are a critical component to our economic recovery.

Feel free to contact me tim@thebusinessplanconsultants.com for more information on how the economy and the economic stimulus package in particular affect your business.

Funding Business Plans in Today’s Economic Environment

Clearly, the economy affects a large percentage of new and existing businesses. I have high hopes for initiatives planned by the new administration, yet I also believe, as do many investment bankers with whom we speak, the economy has not bottomed out in key areas such as unemployment or the crisis of our financial institutions.

Notwithstanding, there are still a myriad of opportunities to fund business plans nationwide. Many local and regional banks have tightened up on SBA loans, but the SBA program remains an option throughout the US for viable business plans. Angel investors, private placement and venture capital remain available. In this environment, all these sources have more business plans to choose from as other banking options lessen for entrepreneurs.

Therefore, a concise yet detailed business plan, including a strategic marketing plan, competitive and market analyses and truly detailed forecasts, is essential to obtaining funding. As our web site suggests (http://www.thebusinessplanconsultants.net), plans must be custom to the industry and goals of your company.

Ask for a free consultation at tim@thebusinessplanconsultants.com on funding options that suit your plan and business.

Avoid Business Plan Traps

As readers are aware from my various blogs, including one recently, using software and templates is definitely a major trap that doesn’t help business plans get funded as much as it hinders. There are many other common mistakes in business plans that professionals and non-professionals alike send to us for help with funding or for advice on how they could be improved. Most are missing a great Executive Summary that is required by a majority of investors before they even look at a business plan. Again, a major lack is a great forecast that contains a true cash flow, namely a month-to-month forecast for 1-2 years to demonstrate increasing revenue and proportionate sales and, therefore, a true break even point. Most plans we receive don’t include a detailed marketing and/or competitive analyses that can draw definitive conclusions for your forecast as to your market share, market penetration and price points. Lastly, a targeted and specific marketing plan within the framework of competitors’ marketing efforts is often missing from plans we receive.

We continue to load our soon-to-be launched web site with more details on traps to avoid and content that should be provided at http://thebusinessplanconsultants.net/toptenbusinessplantraps.html and www.thebusinessplanconsultants.net.

Feel free to contact me with any questions at tim@thebusinessplanconsultants.com.

Software and Templates Typically Result in Failed Business Plans

Since Business Plan Pro and Master Plans Google high due to so many sample plans posted on their sites, they are used by professionals and entrepreneurs alike to create plans that almost always have excess content in some areas, insufficient content in others, missing sections of importance like Exit Strategy and Risk Factors and more, let alone worthless content and graphs in addition to forecasts that are weak and lacking in sufficient notes and assumptions. Since our advertising gets so many responses, on average I receive one completed plan every one to two weeks written using these software options from business owners who couldn't accomplish their goals, usually raising capital.

I have had many conversations with bankers and institutional investors alike on their recognition of cookie cutter software written plans that they had trashed for those factors mentioned above, and more so these plans lacked a true Executive Summary that 95% of them expect to receive before reading any business plan of length.

Many make this choice with the goal of saving money and then find out they can’t accomplish their ultimate goal. For us, editing and rewriting a plan that is flawed, as many are, takes more time than writing a new plan from scratch. Since we have written plans for such a myriad of businesses, we can create a custom plan for you.

E-mail me at tim@thebusinessplanconsultants.com for additional information.

Business Planning New Years Resolutions

I have always looked at the New Year as a time to reflect personally and professionally at the past year and the new year. After doing so, I find the resolve to refocus on certain business efforts from the past year and establish new directives to address business environment changes, to modify and develop new goals and objectives. With the economy in its current state and a new administration soon to arrive in Washington, this business reflection is perhaps more important for all of us than ever before in our lives. New directives require new ideas and feedback as such from experts and creative thinkers alike. Feel free to contact me at tim@thebusinessplanconsultants.com to be part of the process of helping your business in the New Year.

We are soon relaunching our web site, temporarily posted at http://www.thebusinessplanconsultants.net/ while we add extensive content to provide extensive information to business owners seeking help with staffing, marketing, operations and so many other areas critical to a successful business.
Happy Holidays and a prosperous and healthy New Year to all!