Do you have a business plan?

Discussion in 'Starting a Business' started by magician661, Nov 18, 2009.

  1. magician661

    magician661
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    I think everyone has a business plan.But,do you only have the plan or you are also implementing on it.
     
  2. nirose

    nirose
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    Ya i do have a business plan on my mind and always trying to make it work step by step.

    I think everyone has a business plan.
     
  3. rohit09

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    YA! I have a business plan too...!
    I have a website for web hosting. Also I have a normal Master Reseller account. But really LOW Space! Last I have..! Also my bandwidth almost cover every month...! I want someone or many more who help me... to figurit out... Someone or some people already has DEDICATED server or something else...! FREE Space, lots more bandwidth -But can't sell... I help them... HOW?
    Post here! Or PM me -I will tell you..!
     
  4. manu.kumaar26

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    Even i have business plan too..

    Now i am looking for investors to invest in business for that i have presented my business proposal to some business portals to raise funds.
     
  5. PneumaticTubes

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    Yes, of course. Before starting your own business, Planning is very important.
    You need to know your goal/objective to start the planning. Then, implement it.
    In that way you know the path you are heading.
     
  6. HJ-Andrew

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    A business plan is an absolute must, in my opinion.
     
  7. Fergal

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  8. TiaWood

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    One thing I have learned: nothing ever goes according to plan. It is good to have an overall goal and sub-goals in mind but be ready to adapt to unexpected changes.
     
  9. DEADMAN

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    I'm already hit with one of the statement here,
    I believe there should be plan for what you're going to do in business. But you should not making more plans on every steps. Just by doing your best effort, you can achieve success in your business.

    I too have plans for my business but I'm not giving more focus on only plans but trying to have implementation on it too.
     
  10. Fergal

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    Was that in another thread? I agree with you DEADMAN, planning is vital.
     
  11. themiddleman

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    Tia is right, a business plan is an important thing but the ability and nous to deviate from it once things start not to go to plan is more important still.
     
  12. stepheny

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    I always view the cash flow as the most important model for the business. Equally if your new business relies on production of a product before sales, the project planning and budgeting has to be spot on (or your cash flow will be a disaster) .

    Many people think of the cash flow (and business plan) as something static, but it's not.

    My advise is to use a spread sheet to build a model of your business.
    Define the variables and try different scenarios by changing them around. You may want your business plan for funding but it's of most benefit to you.

    The hardest part of a startup will be producing an accurate cash flow, this is especially true if your doing something new and innovative. This is partly what experience brings to a business.

    Having a 'model' built on a spreadsheet will allow you to test best and worse case scenarios. Importantly it will give also give you figures you can benchmark against once you start, important so you can take early corrective action if problems occur.

    If you have a trusted contact in a similar business, show them your model and see if it seems realistic. Check with them if your basic indicators like sales volume, overheads and gross margin look ok and what's expected for the industry.
     
  13. Fergal

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    Great point stepheny, it's all too easy to get caught up in our own way of thinking and not be able to see the wood for the trees. Having another competent person read through the plan and give their feedback in a constructive manner, can be extremely informative and invaluable. They will often see major stumbling blocks, that we ourselves completely miss.
     
  14. eddane

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    How do you plan? Do you use a template off the internet?

    Ed
     
  15. Fergal

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    Ed, you can see some links to great business plan templates in our Useful Business Resources / Links thread. Please feel free to start a new thread if you have any questions on preparing your own business plan.
     
  16. homesecurity

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    A detailed business plan consists of these points:

    1 Executive Summary
    2 Objectives
    3 Mission
    4 Keys to Success
    5 Company Summary
    6 Services
    7 Market Analysis Summary
    8 Management Summary
    9 Financial Plan
     

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