Bankable Business Plans Second Edition

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 endeavorsuch as home-based businesses, sole proprietorships, and franchise operationsthis comprehensive handbook ensures that anyone can embark on a new business venture with confidence.

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 is the founder and CEO of Amazon.com.

Acknowledgments	p. XI
Foreword	p. XV
Preface	p. XIX
The Power Of A Bankable Business Plan	p. 1
What A Bankable Business Plan Is And How It Can Help You Start A Successful Enterprise	p. 3
Bankable Business Plans Serve A Specific Purpose	p. 4
Your Business Plan Is An Extension Of You	p. 7
Entrepreneurship Is A Team Sport	p. 14
The Ten Essential Action Steps	p. 17
Define Your Company: What Will You Accomplish For Others...And Yourself?	p. 19
What Will Your Business Accomplish For...
Your Customers?	p. 21
Your Investors?	p. 21
Your Lenders?	p. 23
Your Suppliers?	p. 24
Your Employees?	p. 25
You?	p. 27
Identify Your Company's Initial Needs: What Will You Require To Get Started?	p. 29
The Major Expenses	p. 32
Real Estate	p. 33
Employees and Employee Benefits	p. 33
Startup and Capital Costs	p. 34
Advertising and Promotion	p. 34
Choose A Winning Strategy: What Will Distinguish Your Product Or Service From Your Competition?	p. 37
Create A Powerful Competitive Advantage	p. 38
Use a SWOT Analysis To Determine The Competitive Advantage Of An Existing Business	p. 44
Plan Ahead: Anticipate An Exit Strategy	p. 45
Match Your Strategy To Any Type Of Industry	p. 45
Emerging	p. 46
Maturing	p. 49
Stagnant and Declining	p. 52
Fragmented	p. 53
Industries with Dominant Leaders	p. 54
Analyze Your Market: Who Will Want Your Product Or Service?	p. 57
Research Your Potential Market Thoroughly	p. 60
Target Your Market Like A Bull's-Eye	p. 65
Test Before You Launch	p. 66
Develop A Strong Marketing Campaign: How Will You Reach Your Customers And What Will You Say To Them?	p. 69
The Four Ps	p. 72
Product	p. 72
Price	p. 74
Place	p. 75
Promotion	p. 78
Build A Dynamic Sales Effort: How Will You Attract Customers?	p. 83
Get An Order Today-Or Yesterday	p. 87
Make Sales A Priority For Everyone	p. 87
Never Delegate Yourself Completely Out Of Sales	p. 88
Create The Right Ethical Environment	p. 89
Be Highly Organized	p. 89
Compensate Based On Long-Term Performance	p. 90
Your Sales Force Can Be Your Competitive Advantage	p. 91
Design Your Company: How Will You Hire And Organize Your Workforce?	p. 93
Structuring Your Company	p. 96
Product Organization	p. 96
Geographical Organization	p. 97
Functional Organization	p. 97
Matrix Organization	p. 98
Hybrid Organization	p. 99
Means Of Control	p. 99
Human Resource Management	p. 99
Legal Structures	p. 103
Matching The Legal Structure With Your Investors	p. 105
Franchises	p. 106
Target Your Funding Sources: Where Will You Find Your Financing?	p. 107
Potential Sources Of Financing	p. 111
How Banks Decide On Loans	p. 115
Explain Your Financial Data: How Will You Convince Others To Invest In Your Endeavor?	p. 119
The Essential Financial Statements	p. 121
The Six Key Financial Assumptions	p. 125
How To Create Statements	p. 128
Financial Statements For Lightning Larry's, Inc.	p. 131
Use The RMA Data: Check Your Answers Against The Answer Key	p. 139
Working With The RMA Data	p. 140
The Answer Key Revealed	p. 143
It Really Is That Simple	p. 146
RMA Data Pages-Retail Florists	p. 148
Putting It Into Action	p. 153
What A Business Plan Should look Like	p. 155
The Physical Qualities	p. 156
The Actual Layout	p. 159
Have Outsiders Read It	p. 167
How Long Should It Take Me?	p. 168
How To Create A Time Line	p. 169
The Primary Components	p. 170
Examples Of Time Lines	p. 172
Demonstrate That You Can Manage Contradictions	p. 177
Keep It Simple...Yet Detailed	p. 177
Focus On Growth...Even In Mature Industries	p. 179
Reassure Investors...Even With Competition All Around	p. 181
Commit To Your Plan...But Be Willing To Pursue Other Good Opportunities	p. 182
Present Yourself In The Best Light	p. 185
The Text Of Your Business Plan	p. 188
Your Resume	p. 190
Make A Great In-Person Presentation	p. 195
Context	p. 196
Content	p. 197
Code	p. 199
Outlines And A Sample Business Plan	p. 203
Outline For A Simple Business Plan	p. 204
Outline For A Complex Business Plan	p. 206
S & J Advertising Business Plan	p. 223
RMA Data - Advertising Agencies	p. 237
Resources	p. 243
Index	p. 251
Table of Contents provided by Ingram. All Rights Reserved.

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Bankable Business Plans Second Edition

Summary

Author Biography

Table of Contents

Supplemental Materials