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fandomhigh2005-10-11 07:08 pm
msgilmoredanes.livejournal.com) wrote in fandomhigh2005-10-11 07:08 pm
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Intro to Business
Good evening class.
Tonight we will continue our discussion of business plans.
Who Needs a Business Plan?
Article Tools
E-mail this Print this Bookmark this
Related Articles:
Startup Success Tips From a Business Plan Winner
Timing Is Everything
Getting In on the University Business Plan Competition Circuit
How To Guides:
How to Build a Business Plan
Also See These Topics:
Creating Your Business Plan
Business Plan Basics
MasterCard BusinessCard® for Small Businesses
See what it can do for your business.
MasterCard® Small Business Resources
E-Commerce Action Guide
Develop A Business Plan
Web Design & Hosting
Newsletter Request
About the only person who doesn't need a business plan is one who's not going into business. You don't need a plan to start a hobby or to moonlight from your regular job. But anybody beginning or extending a venture that will consume significant resources of money, energy or time, and that is expected to return a profit, should take the time to draft some kind of plan.
Start-ups. The classic business plan writer is an entrepreneur seeking funds to help start a new venture. Many, many great companies had their starts on paper, in the form of a plan that was used to convince investors to put up the capital necessary to get them under way.
Most books on business planning seem to be aimed at these start-up business owners. There's one good reason for that: As the least experienced of the potential plan writers, they're probably most appreciative of the guidance. However, it's a mistake to think that only cash-starved start-ups need business plans. Business owners find plans useful at all stages of their companies' existence, whether they're seeking financing or trying to figure out how to invest a surplus.
Established firms seeking help. Not all business plans are written by starry-eyed entrepreneurs. Many are written by and for companies that are long past the start-up stage. WalkerGroup/Designs, for instance, was already well-established as a designer of stores for major retailers when founder Ken Walker got the idea of trademarking and licensing to apparel makers and others the symbols 01-01-00 as a sort of numeric shorthand for the approaching millennium. Before beginning the arduous and costly task of trademarking it worldwide, Walker used a business plan complete with sales forecasts to convince big retailers it would be a good idea to promise to carry the 01-01-00 goods. It helped make the new venture a winner long before the big day arrived. "As a result of the retail support up front," Walker says, "we had over 45 licensees running the gamut of product lines almost from the beginning."
These middle-stage enterprises may draft plans to help them find funding for growth just as the start-ups do, although the amounts they seek may be larger and the investors more willing. They may feel the need for a written plan to help manage an already rapidly growing business. Or a plan may be seen as a valuable tool to be used to convey the mission and prospects of the business to customers, suppliers or others.
taken from this site
Next week we're going to have a quiz on everything we've learned so far. Don't forget to sign the attendance sheet.
Tonight we will continue our discussion of business plans.
Who Needs a Business Plan?
Article Tools
E-mail this Print this Bookmark this
Related Articles:
Startup Success Tips From a Business Plan Winner
Timing Is Everything
Getting In on the University Business Plan Competition Circuit
How To Guides:
How to Build a Business Plan
Also See These Topics:
Creating Your Business Plan
Business Plan Basics
MasterCard BusinessCard® for Small Businesses
See what it can do for your business.
MasterCard® Small Business Resources
E-Commerce Action Guide
Develop A Business Plan
Web Design & Hosting
Newsletter Request
About the only person who doesn't need a business plan is one who's not going into business. You don't need a plan to start a hobby or to moonlight from your regular job. But anybody beginning or extending a venture that will consume significant resources of money, energy or time, and that is expected to return a profit, should take the time to draft some kind of plan.
Start-ups. The classic business plan writer is an entrepreneur seeking funds to help start a new venture. Many, many great companies had their starts on paper, in the form of a plan that was used to convince investors to put up the capital necessary to get them under way.
Most books on business planning seem to be aimed at these start-up business owners. There's one good reason for that: As the least experienced of the potential plan writers, they're probably most appreciative of the guidance. However, it's a mistake to think that only cash-starved start-ups need business plans. Business owners find plans useful at all stages of their companies' existence, whether they're seeking financing or trying to figure out how to invest a surplus.
Established firms seeking help. Not all business plans are written by starry-eyed entrepreneurs. Many are written by and for companies that are long past the start-up stage. WalkerGroup/Designs, for instance, was already well-established as a designer of stores for major retailers when founder Ken Walker got the idea of trademarking and licensing to apparel makers and others the symbols 01-01-00 as a sort of numeric shorthand for the approaching millennium. Before beginning the arduous and costly task of trademarking it worldwide, Walker used a business plan complete with sales forecasts to convince big retailers it would be a good idea to promise to carry the 01-01-00 goods. It helped make the new venture a winner long before the big day arrived. "As a result of the retail support up front," Walker says, "we had over 45 licensees running the gamut of product lines almost from the beginning."
These middle-stage enterprises may draft plans to help them find funding for growth just as the start-ups do, although the amounts they seek may be larger and the investors more willing. They may feel the need for a written plan to help manage an already rapidly growing business. Or a plan may be seen as a valuable tool to be used to convey the mission and prospects of the business to customers, suppliers or others.
taken from this site
Next week we're going to have a quiz on everything we've learned so far. Don't forget to sign the attendance sheet.
no subject