Business Plan
The next step in developing your strategy in your business plan is developing your Mission Statement. Whether you are starting up a new business or running an existing business you must identify the fundamental reason for your business to exist. Making money is an obvious choice but this is not a good enough reason alone for the business to exist. …
The first section of your business plan after the executive summary is your business strategy. In this section, you will have to explain what our business is about, where you want to go and how you will get there. The first stage in developing your business strategy is defining what your business is and what it will be in the …
The last economic crisis profoundly impacted how entrepreneurs and business owners finance their businesses and write business plans. The 2022 Mini-Budget and increasing interest rates will have a similar impact. Banks have been reluctant to lend money to start-ups without offering significant collateral against the loan. Despite all the publicity that they are lending more money than ever, banks are …
If another business is able to copy or steal your ideas, inventions, contacts, designs or knowledge your business is at risk. Protecting your ideas and intellectual property is crucial for the sustainability of your business, potential investors will reluctant to invest in a company whose intangible assets are not protected. There are five main ways to protect your business‘s intellectual …
If you are a serial entrepreneur or an aspiring business owner then learning how to write a business plan should be an essential part of your skillset. Being able to write a convincing business plan will help you improve and grow your business. Let’s start with what a business plan is: it is a document that outlines the vision for …
Most entrepreneurs spend hours working on their product and for several months when starting their business. Research is great, however, there becomes a point where you have to test your business idea and find out whether your product will sell. There is no value in holding onto a product for until it’s 100% complete and when it’s released onto the …
If your business requires investment, then it is likely you will have to write a business plan. Writing a business plan is not that difficult just as long as you understand what the potential investor is expecting to see. Below are some of the common business plan mistakes made by entrepreneurs. 1. They Don’t Understand The Purpose Of The Plan …
If you’re trying to start your own business, writing a comprehensive business plan is should be your first step. However, the question is: How do you write a business plan that gets investment? Fortunately, with the help of this article, you’ll be able to start your business and get investment simultaneously. Many entrepreneurs get confused about what to include in their …
