Our company (www.green-businessplans.com; www.solarbusinessplans.com) focuses on green and renewable energy business development, where we have assisted over 20 solar companies with business development as just one example। Over the last several years we have conducted extensive research on green and renewable trends, such as this White Paper
http://green-businessplans.com/wp-content/uploads/2010/03/The_Greening_of_the_American_Economy.pdf that was published at the Go Green Expo in the spring 2010. The great news is that there is a tremendous growth in the sale of green products and services, let alone a more extended growth in the sale of organic and natural foods and the use of renewable energy. Studies have shown a 38-62% growth in solar sales over the last three years. This support for renewable energy is clearly bipartisan as referenced in a Gallop Poll just months ago. As a society we clearly know we must recycle and utilize renewable energy.
This great news is not big news at all to the many green business owners and entrepreneurs that approach us to help with their business plan or seek capital to expand. Personally, in a prior career I owned and operated healthcare facilities and still provide selected consulting in that realm. Green entrepreneurs are very much like most healthcare providers in their attitude and approach, basically feeling that because they are giving back and doing good things that they are entitled to capitalization and success. In principle that does make sense, but in reality we still have a struggling economy and consumers that have daily purchasing decisions based on affordability first and sustainability second.
There is a growth in green consumerism but that growth is in two distinct areas. First, there are the “tree huggers” or those that purchase sustainable products virtually regardless of price, paying more for those products than they would for traditional ones. While they are a growing segment, it is still a small percentage of the population. The second opportunity for green entrepreneurs is consumers that will choose sustainable products over traditional products when prices are at least comparable. Studies have shown that well over 50% of consumers make these types of decisions.
The economy still drives the business, green or not. Over the last few years, investment bankers on our team have used a proprietary database of over 700 institutional and venture capital firms to access capital for our clients. Investment bankers are much more selective and have even higher expectations over the last few years. They prefer technology but will invest in other sectors, including retail/wholesale products. However, they are wary of competition. Unless a company is an industry leader, which means substantial sales, often seven figures rather than six, they will not invest. One VC CEO I spoke to recently advised that his company, not one of the larger VC firms by any standard, received at least 150 inquiries each month. Unless there is a great Business Plan available supporting an Executive Summary to get in the door, the only thing they will pursue further is intellectual property even though they invest in a wide spectrum.
Money is available, and we can access angel investors who are a bit more flexible, but in an economy that is competitive for that money, clearly it takes a transparent and thorough business plan that address factors that concern investors. There are no shortcuts to success and that includes even worthy sustainable missions.
Reach out tim@thebusinessplanconsultants.net if you would like a free consult on your business
Saturday, July 2, 2011
Tuesday, May 24, 2011
Is Your Business (Plan) Important To You?
Your business plan should have many purposes, the first as a road map to your success from operations to marketing. Typically, we write plans with the purpose of raising capital and include that road map focused on areas like a market analysis and a marketing plan.
There are several old sayings, some not so old, that ring true, such as “walk the walk, don’t just talk the talk.” Everyone tells us their business plan is important to them or otherwise why would they seek us out on an ad or Internet search or engage us as a consultant? Then when it comes to completing the plan, they don’t act like it is important when they are not available for scheduled calls or don’t address our concerns - sometimes due to overconfidence or lack of experience.
There are dozens of examples of items we request and sometimes struggle to receive, like when stress the need to establish a deep team from the principal’s resume/bio to a marketing firm, or a lead distributor, or a development team of substance if a construction project.
We try to make it as easy as possible to complete a business plan, gathering information on scheduled calls with members of our team, then sending a follow up memos to clients about items only they can provide or questions only they can answer. We are hired to research and write the business plan, not to act as a recruiter when the team is incomplete. That doesn't mean we haven't recruited when paid to do so.
Sometimes certain contracts that are critical to the business plan are not in place. The plan can be delivered subject to the client adding that contract at a later date if requested. We have sometimes been asked to negotiate contracts, but that is beyond a business plan engagement.
We can provide additional services beyond writing the business plan that include business development, where we establish relationships and agreements that deliver products, services or market opportunities. Our SEO and web development team has achieved great results with Google searches to drive revenue affordably as well.
We can provide virtual CFO services, act as interim Corporate Secretary or Board Member in helping companies get organized as well assist in almost any aspect of operating a business, thus lessening risks to an investor when a client is seeking capital and lower costs for growing companies in hiring employees in certain departments until they achieve certain targeted revenues.
Structuring your business, developing critical strategic alliances, establishing the right team and various other factors go well beyond simply writing a business plan. If your business truly is important to you, reach out for a free consult at Tim@thebusinessplanconsultants.com on all aspects of developing your business plan and your business.
There are several old sayings, some not so old, that ring true, such as “walk the walk, don’t just talk the talk.” Everyone tells us their business plan is important to them or otherwise why would they seek us out on an ad or Internet search or engage us as a consultant? Then when it comes to completing the plan, they don’t act like it is important when they are not available for scheduled calls or don’t address our concerns - sometimes due to overconfidence or lack of experience.
There are dozens of examples of items we request and sometimes struggle to receive, like when stress the need to establish a deep team from the principal’s resume/bio to a marketing firm, or a lead distributor, or a development team of substance if a construction project.
We try to make it as easy as possible to complete a business plan, gathering information on scheduled calls with members of our team, then sending a follow up memos to clients about items only they can provide or questions only they can answer. We are hired to research and write the business plan, not to act as a recruiter when the team is incomplete. That doesn't mean we haven't recruited when paid to do so.
Sometimes certain contracts that are critical to the business plan are not in place. The plan can be delivered subject to the client adding that contract at a later date if requested. We have sometimes been asked to negotiate contracts, but that is beyond a business plan engagement.
We can provide additional services beyond writing the business plan that include business development, where we establish relationships and agreements that deliver products, services or market opportunities. Our SEO and web development team has achieved great results with Google searches to drive revenue affordably as well.
We can provide virtual CFO services, act as interim Corporate Secretary or Board Member in helping companies get organized as well assist in almost any aspect of operating a business, thus lessening risks to an investor when a client is seeking capital and lower costs for growing companies in hiring employees in certain departments until they achieve certain targeted revenues.
Structuring your business, developing critical strategic alliances, establishing the right team and various other factors go well beyond simply writing a business plan. If your business truly is important to you, reach out for a free consult at Tim@thebusinessplanconsultants.com on all aspects of developing your business plan and your business.
Tuesday, April 5, 2011
Top Ten Time Management Principles in Business
Top Ten Time Management Principles in Business 1) Be honest direct, open and transparent in communication, both written and oral, as time is wasted in interaction otherwise. 2) If you need a signed Confidentiality Agreement or NDA to be open, then ask for or provide one. Thereafter, share existing written background beforehand to maximize time on a scheduled call. 3) Being organized to be accomplished means there is other time set aside besides scheduled calls with partners, investors, staff, sub-contractors, clients, potential clients and other business relationships. 4) Scheduling calls is dramatically more productive. Trading calls is not productive time, as busy and successful people are rarely available randomly, and messages and voice mail will be the result of random calls 90% of the time, or 10% of the time you reach someone. You reach someone 100% of the time of scheduled calls. The more important the interaction, the less likely you will reach someone randomly. 5) Email is much more effective tool to manage your schedule, including scheduling calls that are important to maximizing our productivity. 6) I assume and respect that others time is valuable, and therefore expect the same respect for the utilization and value of my time. 7) Business is business, and unless there is an emergency like when I owned healthcare businesses, with emergencies unlikely in my business now, there are normal business hours. I will schedule calls from 8AM to 4:30PM, occasionally Saturday AM at times. Other time is personal time and family time, and that time must be respected. 8) My business and therefore my commitment to being organized and productive with my time and the resulting earnings in my business is primarily for the benefit of my family and ability to give back. Therefore, if you disrespect my time and schedule, you are in effect hurting my children and others. 9) Respect is critical in life, and respect for others time being as important as yours means we each accommodate schedules to schedule calls and aim to be productive on those calls based on advance review of documentation or agendas. Of course, family, personal emergencies and certain business partners take priority, and scheduled calls can be rescheduled with email notice in advance as possible. 10) If you feel your time is more valuable than my time, and call randomly despite my time management expectations including scheduled calls, then we should not do business together unless you a serious existing benefactor or investor in selected cases.
Thursday, February 10, 2011
Step One in Business Plan Development - Determine Scope of Work
We complete business plans and assist in capital access as well for experienced business owners as well as entrepreneurs that are new to operating a business. The extreme diversity of those that contact us, let alone send draft business plans, is as varied as a thesis from a PhD from MIT who graduated with honors to someone who doesn't even know what school is.
Approximately one in three people that approach us ask for a price for completing their business plan without volunteering any information about the proposed or existing business. If we were like the many former unemployed writers or bankers who claim to be business plan experts but use templates and price based on the same volume of writing within that template, we would provide a flat price regardless of what the prospective client's goals might be, what their related background might be, how much research is needed and more to have the best opportunity for a client’s success. However, our clients’ success is very important to us and we don't want work that doesn't have a reasonable opportunity for that success.
We don't tell you just what you want to hear either like so many others, but will advise openly and without sugar coating based on our understanding of SBA, SBA Express, Bank, VC and Angel expectations for a wide range of businesses. The economy is recovering but it is a slow process. Some regions are doing better than others. Some types of businesses are doing better or great, like solar which is booming in many states and good in others. Some types of businesses are recession proof, like a restaurant that knows their composition, have well thought our marketing strategies and quality food with relative value. Most others aren't that straight forward and take some discussion to determine the best options and content in a business plan to achieve reasonable goals, i.e. "scope of work."
Recently I tried to explain the term scope of work to a business neophyte, but she responded after two requests with one sentence as to the scope of work of a business plan that needed to be drafted. I admit that I laughed. Do people think you'll get funding no matter your background? That obtaining capital and hence components of the business to the right target audience will not be influenced by how much they have invested in the business? By historical sales if not a start up? By a great market analysis that compares competition in detail versus little more than a list? These questions (and answers) and more depending on the business determine the scope of work of a business plan and therefore the research and content needed to support the affirm the business plan purpose, raising capital. This information would be critical to investors and would shape the amount of work needed by the consultant for research and time and, therefore, determine the appropriate price for a plan that may accomplish goals in 10-12 pages or 50 plus pages.
Be wary of those that quote one flat price for everything! The result will be a template with tons of useless information, let alone insufficient or sometimes even excess information just to fill in the blanks versus a custom plan that attracted capital so much more often. When we plans other "experts" complete that results in a smoothie shop business plan looking like a plan for intellectual property or vice versa, like two received from clients looking to fix business plans done by other consultants, then something is very wrong.
Our company offers a free consultation tim@thebusinessplanconsultants.net on business plans and that starts with a series of questions in a form or phone interview to determine the scope of work to achieve viable goals.
Approximately one in three people that approach us ask for a price for completing their business plan without volunteering any information about the proposed or existing business. If we were like the many former unemployed writers or bankers who claim to be business plan experts but use templates and price based on the same volume of writing within that template, we would provide a flat price regardless of what the prospective client's goals might be, what their related background might be, how much research is needed and more to have the best opportunity for a client’s success. However, our clients’ success is very important to us and we don't want work that doesn't have a reasonable opportunity for that success.
We don't tell you just what you want to hear either like so many others, but will advise openly and without sugar coating based on our understanding of SBA, SBA Express, Bank, VC and Angel expectations for a wide range of businesses. The economy is recovering but it is a slow process. Some regions are doing better than others. Some types of businesses are doing better or great, like solar which is booming in many states and good in others. Some types of businesses are recession proof, like a restaurant that knows their composition, have well thought our marketing strategies and quality food with relative value. Most others aren't that straight forward and take some discussion to determine the best options and content in a business plan to achieve reasonable goals, i.e. "scope of work."
Recently I tried to explain the term scope of work to a business neophyte, but she responded after two requests with one sentence as to the scope of work of a business plan that needed to be drafted. I admit that I laughed. Do people think you'll get funding no matter your background? That obtaining capital and hence components of the business to the right target audience will not be influenced by how much they have invested in the business? By historical sales if not a start up? By a great market analysis that compares competition in detail versus little more than a list? These questions (and answers) and more depending on the business determine the scope of work of a business plan and therefore the research and content needed to support the affirm the business plan purpose, raising capital. This information would be critical to investors and would shape the amount of work needed by the consultant for research and time and, therefore, determine the appropriate price for a plan that may accomplish goals in 10-12 pages or 50 plus pages.
Be wary of those that quote one flat price for everything! The result will be a template with tons of useless information, let alone insufficient or sometimes even excess information just to fill in the blanks versus a custom plan that attracted capital so much more often. When we plans other "experts" complete that results in a smoothie shop business plan looking like a plan for intellectual property or vice versa, like two received from clients looking to fix business plans done by other consultants, then something is very wrong.
Our company offers a free consultation tim@thebusinessplanconsultants.net on business plans and that starts with a series of questions in a form or phone interview to determine the scope of work to achieve viable goals.
Tuesday, October 12, 2010
Market and Competitive Analysis is the Key
Whether you own an existing business or are establishing a new business, understanding your competition and the potential within your market is the most critical component of growing or establishing your business.
For existing businesses, an assessment of your competitors should be completed from an object third party view on an annual basis. How do your competitors market and advertise versus your marketing program? What is their pricing structure for their products/services versus yours? What are the competitive advantages they have over your products/services and vive versa? Understanding these strategies and more will allow you to revise your sales strategies, let alone your marketing efforts. Changing and modifying your marketing strategy not only saves costs on wasted pursuits but also drives revenues as sales are the most critical part of your business.
For new businesses, the some principles apply. The key difference: when starting from scratch is that you need an in-depth analysis versus the head start in going head to head against existing competitors. The Competitive Analysis is separate from the Market Analysis, which would assess the size of the market, the potential for penetration this is in the market overall and how much of the market you could seize.
Until you understand these factors, including how competitors advertise and market, how can you establish a marketing plan? The answer is simple: you can’t। A great business plan starts with a great Market Analysis and Competitive Analysis. There is no point in starting forecasts, let alone the business plan, until you address this area first.
We offer a free consult tim@thebusinessplanconsultants.com on your business whether it be for a marketing analysis, a marketing plan, a competitive analysis or anything else.
For existing businesses, an assessment of your competitors should be completed from an object third party view on an annual basis. How do your competitors market and advertise versus your marketing program? What is their pricing structure for their products/services versus yours? What are the competitive advantages they have over your products/services and vive versa? Understanding these strategies and more will allow you to revise your sales strategies, let alone your marketing efforts. Changing and modifying your marketing strategy not only saves costs on wasted pursuits but also drives revenues as sales are the most critical part of your business.
For new businesses, the some principles apply. The key difference: when starting from scratch is that you need an in-depth analysis versus the head start in going head to head against existing competitors. The Competitive Analysis is separate from the Market Analysis, which would assess the size of the market, the potential for penetration this is in the market overall and how much of the market you could seize.
Until you understand these factors, including how competitors advertise and market, how can you establish a marketing plan? The answer is simple: you can’t। A great business plan starts with a great Market Analysis and Competitive Analysis. There is no point in starting forecasts, let alone the business plan, until you address this area first.
We offer a free consult tim@thebusinessplanconsultants.com on your business whether it be for a marketing analysis, a marketing plan, a competitive analysis or anything else.
Tuesday, September 7, 2010
Transparency and Due Diligence – Keys to Raising Capital
With referrals, ads and SEO responses from entrepreneurs and business owners worldwide, but primarily throughout North America, each week we receive as many as 10-12 draft or in some cases considered final business plans. In addition, our deep team of professionals has completed as many as 20 business plans in one month, often just edits on draft plans received vs. completing a business plan from scratch.
In blogging over a period of time, I have often written about the pitfalls of templates and software for those who Google “business plans” and end up using flawed templates that call an “Introduction” an “Executive Summary” and lead so called business plan writers or entrepreneurs to prepare flawed business plan after flawed business plan that ends up in investors’ trash can after investors’ trash can.
Approximately 95% or more of the time, the business plans we review are lacking the same critically important components, including a quality Executive Summary that sums up the entire business plan(and gets you in the door!), a detailed Market Analysis and thorough Competitive Analysis, detailed forecasts that include month-to-month worksheets that establishes a better working capital assessment, let alone detailed Notes and Assumptions vs. leaving the reader to draw his/her conclusions out of thin air as to the source of the numbers.
Investors and lenders require due diligence to invest and lend. Transparency goes hand in hand with due diligence. When a business plan makes a statement, it needs to be supported. As one of many examples, if you say you have a contract to produce revenue, either attach it as an Appendix or summarize it and offer it upon request. I tell many that perhaps I was born in the wrong state; I should have been born in Missouri, the “show me” state since that is the approach I must use with those who seek capital for their business plan. Investors think along these same lines.
There are many traps (http://thebusinessplanconsultants.net/toptenbusinessplantraps.html) that business plan authors can fall into in completing a plan, but none is more dooming than overconfidence, a real two-edged sword. Successful people need confidence to succeed yet overconfidence leads those that have not completed any business plans (or few) to believe they can complete one or hire a lone wolf consultant or out of work banker or recent college graduate that does not have the experience working with hundreds of clients and thus understand that transparency and due diligence are the keys to business plan success.
We have a team of professionals to prepare your business plan, including investment bankers. Contact us to ask for a free consult through Tim@TheBusinessPlanConsultants.com
In blogging over a period of time, I have often written about the pitfalls of templates and software for those who Google “business plans” and end up using flawed templates that call an “Introduction” an “Executive Summary” and lead so called business plan writers or entrepreneurs to prepare flawed business plan after flawed business plan that ends up in investors’ trash can after investors’ trash can.
Approximately 95% or more of the time, the business plans we review are lacking the same critically important components, including a quality Executive Summary that sums up the entire business plan(and gets you in the door!), a detailed Market Analysis and thorough Competitive Analysis, detailed forecasts that include month-to-month worksheets that establishes a better working capital assessment, let alone detailed Notes and Assumptions vs. leaving the reader to draw his/her conclusions out of thin air as to the source of the numbers.
Investors and lenders require due diligence to invest and lend. Transparency goes hand in hand with due diligence. When a business plan makes a statement, it needs to be supported. As one of many examples, if you say you have a contract to produce revenue, either attach it as an Appendix or summarize it and offer it upon request. I tell many that perhaps I was born in the wrong state; I should have been born in Missouri, the “show me” state since that is the approach I must use with those who seek capital for their business plan. Investors think along these same lines.
There are many traps (http://thebusinessplanconsultants.net/toptenbusinessplantraps.html) that business plan authors can fall into in completing a plan, but none is more dooming than overconfidence, a real two-edged sword. Successful people need confidence to succeed yet overconfidence leads those that have not completed any business plans (or few) to believe they can complete one or hire a lone wolf consultant or out of work banker or recent college graduate that does not have the experience working with hundreds of clients and thus understand that transparency and due diligence are the keys to business plan success.
We have a team of professionals to prepare your business plan, including investment bankers. Contact us to ask for a free consult through Tim@TheBusinessPlanConsultants.com
Friday, July 16, 2010
New Business Opportunities
We complete business plans of all types and sizes, including many for green products and services as well as renewable energy. As mentioned on our web site (www.green-businessplans.com), we strongly suggest all business owners consider green practices if not being a truly green and sustainable business. In green and sustainability we see tremendous opportunities for solar sales, solar installations, energy conservation, LED and induction lighting and other areas where entrepreneurs can seize the day.
Today’s economy is rebounding and offers opportunities in all market segments for businesses that provide a better product or service or better pricing in comparison with existing products and services. This is true for sustainable and traditional business ventures and is a basic principle that must be substantiated in detail in a business plan. The majority of plans we receive weekly do not “practice what they preach,” more specifically, these plans make broad statements that are not supported. Often when trying to play devil’s advocate or more so to take the approach of investors bankers looking at a business plan, I often state that I should have been born in Missouri, the “show me” state. There are many opportunities for new business, but to seize these opportunities, long standing methods such as extensive due diligence and transparency must be addressed in the business plan and presentation.
We not only can help entrepreneurs and existing business owners succeed with new opportunities they identify but also offer new areas where you can grow or enhance your business from products to services to marketing efforts to using our relationships. As a national firm with regional presence, we see what works in many businesses and can apply that to new locations and other businesses.
Feel free to contact me at tim@thebusinessplanconsultants.com to discuss your business or suggestions we can make to consider other opportunities.
Today’s economy is rebounding and offers opportunities in all market segments for businesses that provide a better product or service or better pricing in comparison with existing products and services. This is true for sustainable and traditional business ventures and is a basic principle that must be substantiated in detail in a business plan. The majority of plans we receive weekly do not “practice what they preach,” more specifically, these plans make broad statements that are not supported. Often when trying to play devil’s advocate or more so to take the approach of investors bankers looking at a business plan, I often state that I should have been born in Missouri, the “show me” state. There are many opportunities for new business, but to seize these opportunities, long standing methods such as extensive due diligence and transparency must be addressed in the business plan and presentation.
We not only can help entrepreneurs and existing business owners succeed with new opportunities they identify but also offer new areas where you can grow or enhance your business from products to services to marketing efforts to using our relationships. As a national firm with regional presence, we see what works in many businesses and can apply that to new locations and other businesses.
Feel free to contact me at tim@thebusinessplanconsultants.com to discuss your business or suggestions we can make to consider other opportunities.
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