The secrets behind creating compelling and successful business plans sure to attract financial backers are revealed step-by-step in this invaluable guide. Containing detailed information on Risk Management Association (RMA) data and clear explanations of the guidelines that banks, venture capital firms, and the Small Business Administration (SBA) use to grant loans and other financial support to businesses, the resource equips potential business owners with a wealth of knowledge on lending procedures. Hundreds of useful ideas for developing, operating, marketing, and building a profitable business are included as are copious examples and resources for further study. By demonstrating how to make each business plan uniquely suited to a particular endeavor—such as home-based businesses, sole proprietorships, and franchise operations—this comprehensive handbook ensures that anyone can embark on a new business venture with confidence.
Bankable Business Plans Author: Edward G. Rogoff Other: Jeff Bezos Edition: Second Table of Contents Acknowledgements Foreword Preface Part I: The Power Of A Bankable Business Plan Part II: The Ten Essential Action Steps Action Step 1: Define Your Company: What Will You Accomplish For Others…And Yourself? Action Step 2: Identify Your Company’s Initial Needs: What Will You Require To Get Started? Action Step 3: Choose A Winning Strategy: What Will Distinguish Your Product Or Service From Your Competition? Action Step 4: Analyze Your Market: Who Will Want Your Product Or Service? Action Step 5: Develop A Strong Marketing Campaign: How Will You Reach Your Customers And What Will You Say To Them? Action Step 6: Build A Dynamic Sales Effort: How Will You Attract Customers? Action Step 7: Design Your Company: How Will You Hire And Organize Your Workforce? Action Step 8: Target Your Funding Sources: Where Will You Find Your Financing? Action Step 9: Explain Your Financial Data: How Will You Convince Others To Invest In Your Endeavor? Action Step 10: Use The RMA Data: Check Your Answers Against The Answer Key Part III: Putting It Into Action What A Business Plan Should look Like How To Create A Time Line Demonstrate That You Can Manage Contradictions Present Yourself In The Best Light Make A Great In-person Presentation Outlines And A Sample Business Plan Resources Index Description The secrets behind creating compelling and successful business plans sure to attract financial backers are revealed step-by-step in this invaluable guide. Containing detailed information on Risk Management Association (RMA) data and clear explanations of the guidelines that banks, venture capital firms, and the Small Business Administration (SBA) use to grant loans and other financial support to businesses, the resource equips potential business owners with a wealth of knowledge on lending procedures. Hundreds of useful ideas for developing, operating, marketing, and building a profitable business are included as are copious examples and resources for further study. By demonstrating how to make each business plan uniquely suited to a particular endeavor—such as home-based businesses, sole proprietorships, and franchise operations—this comprehensive handbook ensures that anyone can embark on a new business venture with confidence. Excerpt What A Bankable Business Plan Is And How It Can Help You Start A Successful EnterpriseWhen individuals come into the Lawrence N. Field Center for Entrepreneurship at Baruch College and sit down in my office, they usually open the conversation with one simple sentence: “I want to start my own business.”The next statement almost invariably includes one of the following four predicaments: “I have a specific idea for a business, but I don’t know what to do next,” or, “I know what I want to do and how I want to do it, but when I went to the bank for a loan, they said I had to show them something in writing before they would even talk to me,” or, “I want to buy a business that I think I can make more successful, but I don’t know how to start,” or, “I’m an inventor and I’ve come up with a fabulous new product, but I don’t have a clue how to get it manufactured—or sold.”The answer to all of these appeals for advice, whether the individual is opening a restaurant, taking over a competitor’s ocarina manufacturing plant (an ocarina is a small, simple wind instrument), building a better mousetrap, selling a new kind of soap, or offering expert financial services to Wall Street investors is: “You need a business plan.” Every one of these entrepreneurs is focused on a single goal: to build a successful enterprise that delivers profits and satisfaction to each owner. And no matter what that potential business is, there is one basic tool to employ in achieving that goal: a clear and compelling business plan.Since I’m always interested in the types of businesses my clients want to develop into profitable and satisfying ventures, I ask them to tell me about their aspirations for the product or service they hope to provide. As they talk, I can sense their excitement and enthusiasm, even if they’re uncertain about the next step. My job is to channel their passions into that next step: writing a strong business plan. And that’s exactly what I am doing for you in this book.Bankable Business Plans will help you create not only a strong business plan, but a bankable business plan–one that attracts financial support by meeting the needs of bankers, partners, and investors. By addressing the issues that are important to potential funders, you can convince them to believe in your concept because it will bring them success, as well as satisfaction to you. A bankable business plan is distinguished by certain characteristics: it serves a specific purpose, it doesn’t follow formulas, it does follow good business thinking, it can be created regardless of your skills, it focuses on financial issues, and it can be used for starting, growing or buying a business.Bankable Business Plans Serve A Specific Purpose A good business plan is simply a document with a specific purpose. It will: • Test the feasibility of your business idea. • Determine the best financial resources to start your business through investors or partners. • Secure enough debt by establishing loans, lines of credit, or payment terms. • Identify the key people to work with you as employees, partners, or consultants. • Establish business relationships with your customers, suppliers, or distributors. • Create an operational template for the... Author Bio Edward G. Rogoff Edward G. Rogoff is the author of The Entrepreneurial Conversation. He is a professor in the department of management of the Zicklin School of Business and the academic director of the Lawrence N. Field Center for Entrepreneurship and Small Business at Baruch College. His articles have appeared in a variety of publications, including Family Business Review, Forbes, The Journal of Business and Entrepreneurship, and The New York Times. He is the founder of Newton Business Programs, an entrepreneurial-focused company which offers business training, and has served as a CEO for two media companies that owned more than 20 radio stations and as a consultant for a variety of businesses, including venture capital firms and entrepreneurs. He lives in New York City. Jeff Bezos Jeff Bezos is the founder and CEO of Amazon.com. Reviews "I believe [Rogoff's] experiences with his own successful ventures and as a professor of entrepreneurship make him an excellent person to guide you from initial idea through the creation of an effective plan that will serve the needs of your customers and investors." "Here's the book entrepreneurs have been waiting for . . . a no-nonsense approach to putting in writing what lenders and investors demand to see. [This book] tells entrepreneurs exactly how to pull together what they need before they see the people with the money." "An indispensable guide to creating the kind of business plan that banks want to support. . . . A clear, well-written, informative book that teaches readers how to craft a winning strategy and be strong business managers and successful entrepreneurs."
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