It is often the case to find many want to be CEO setting up a business without a business plan. As a serial entrepreneur myself, I have been guilty of this in a couple of occasions. The reason for this blunder is not far-fetched, as cost-avoidance seems to be a natural human trait. A do-it-yourself business plan will be a perfect solution, which will ensure that all entrepreneurs arm themselves with a business plan as their premier planning tool. The act of planning helps you to think things over.
There are two important reasons for writing a business plan. The first, and most essential, is to serve as a planning tool during the life-cycle of your business. If you spend the time to plan, you will circumvent many mistakes, and future frustrations will be eliminated. Secondly, the business plan is a requirement for seeking loan funds. It will provide potential lenders with detailed information on all aspects of the company's past and current operations and provide future projections.
In addition to the traditional topics treated in a Do it Yourself business plan book, we have covered the subjects of Exit Strategy and Cashflow Quadrant.
The exit strategy provides the business owner with an indemnity in the event of possible foreclosure of your company. While hoping for the best of outcome in your transactions, you must not fail to prepare for the worst having in mind that business is a risk, as it is usually said. However the higher the risk, the higher the rewards. We are often asked, "When is it appropriate to implement the exit strategy?" Our usual response is "the earlier, the better." From experience, two to three years is a good time for implementing your exit strategy.
The cashflow quadrant is a chart that identifies various sources of income, types of work engagement and levels of leverage. As a part of this book, the chart will help the aspiring Entrepreneur to choose their rightful place in the supply and demand chain.
Also included in the additional resources section of this book is the Cashflow statement spreadsheet and a Break-even point calculator (in MS Excel format) is available. Use the download link to get yours. While you are at it, make sure you checkout the business in a box and Linkedin marketing tools. You can't afford not having them. Click the buy button now to keep your copy of this ebook.
As you embark on your business journey, I wish that you always return successful and in the best of health.