Henri Schauffler, The CEO Coach, has dedicated the last twenty years to helping small businesses "Outmanage, Outhire, Outsell and Outprofit All their Competition." For a FREE business assessment and tune up to see how your company is doing in all Eight Essential Areas for Business Success, go to http://www.QuickBizQuiz.com
Copyright (c) 2008 Schauffler Associates LLC
You've been told how you should have a business plan, right? What busy street-fighting entrepreneur has time to create one of those thousand page monstrosities?!
But, you know what? Many of the things that are covered in one of those formal plans are important to consider. So - we've created a little checklist in the form of 33 important questions for you to answer about your business - if you're about to start a business - and even if you've already got a going enterprise.
So, sit back, read the questions, and see if you can answer them. If you get snagged on one - consider stopping and doing whatever research or considering you need to do. Write some of this down and - presto - you'll have many of the elements of a solid business plan!
Why did you decide to enter this business?
What was attractive about the opportunity?
What market need did you see that you wanted to exploit?
What have you accomplished so far?
In what stage of development is your company right now?
What milestones have you reached?
What kind of company do you want to build?
What brand image are you seeking to establish?
What strategic position are you trying to occupy in your market?
What is your sustainable competitive advantage?
What is the long range objective? For example, "To build revenues to $50 million within 5 years."
What are your products/services? (Think about this one - it is not as simple as you thing...)
Can you explain the technology involved to create them?
When will they be ready for introduction?
What benefits do your products/services provide that are clearly superior to the competition?
What are the proprietary aspects of your products/services?
What is your sustainable competitive advantage?
What is the size of your market?
In what ways is the market changing and evolving?
What is the driving force behind market growth?
Who are your competitors?
Determine strengths and weaknesses?
How do you think the competitive environment will change in the next 3-5 years?
Are their barriers to entry into your industry?
Who will your targeted customers be?
How are you going to reach those markets?
How will you distribute and promote the products/services?
How much will it cost to reach these markets?
Who are the key individuals in your management team and what have they accomplished in their careers?
Who owns the company today?
Who will own it the future?
What exit strategies are available to you & your partners?
What prior experience does the management team have that will lead to success in this venture?
How will the product be manufactured?
What type of facilities and equipment do you need?
Where will your office(s) be located?
What risk factors could keep you from achieving your forecast results?
How much capital do you need and what will it be used for?
What is the company's financial history?
What are the projected revenues, expenses and profits?
If you can answer each of these questions you've done a great job of thinking through your business - and you've got the essential content for a business plan. You have a well thought out clearly explained plan for your business in the upcoming years.
You've been told how you should have a business plan, right? What busy street-fighting entrepreneur has time to create one of those thousand page monstrosities?!
But, you know what? Many of the things that are covered in one of those formal plans are important to consider. So - we've created a little checklist in the form of 33 important questions for you to answer about your business - if you're about to start a business - and even if you've already got a going enterprise.
So, sit back, read the questions, and see if you can answer them. If you get snagged on one - consider stopping and doing whatever research or considering you need to do. Write some of this down and - presto - you'll have many of the elements of a solid business plan!
Why did you decide to enter this business?
What was attractive about the opportunity?
What market need did you see that you wanted to exploit?
What have you accomplished so far?
In what stage of development is your company right now?
What milestones have you reached?
What kind of company do you want to build?
What brand image are you seeking to establish?
What strategic position are you trying to occupy in your market?
What is your sustainable competitive advantage?
What is the long range objective? For example, "To build revenues to $50 million within 5 years."
What are your products/services? (Think about this one - it is not as simple as you thing...)
Can you explain the technology involved to create them?
When will they be ready for introduction?
What benefits do your products/services provide that are clearly superior to the competition?
What are the proprietary aspects of your products/services?
What is your sustainable competitive advantage?
What is the size of your market?
In what ways is the market changing and evolving?
What is the driving force behind market growth?
Who are your competitors?
Determine strengths and weaknesses?
How do you think the competitive environment will change in the next 3-5 years?
Are their barriers to entry into your industry?
Who will your targeted customers be?
How are you going to reach those markets?
How will you distribute and promote the products/services?
How much will it cost to reach these markets?
Who are the key individuals in your management team and what have they accomplished in their careers?
Who owns the company today?
Who will own it the future?
What exit strategies are available to you & your partners?
What prior experience does the management team have that will lead to success in this venture?
How will the product be manufactured?
What type of facilities and equipment do you need?
Where will your office(s) be located?
What risk factors could keep you from achieving your forecast results?
How much capital do you need and what will it be used for?
What is the company's financial history?
What are the projected revenues, expenses and profits?
If you can answer each of these questions you've done a great job of thinking through your business - and you've got the essential content for a business plan. You have a well thought out clearly explained plan for your business in the upcoming years.
- Related Videos
- Related Articles
- Ask / Related Q&A
- How to Manage a Business Systems Implementation Plan
- Small Business Loans and Plan B Contingency Finance Strategies
- Starting a Children's Party Planning Business
- Business Idea... Opportunity Planning... Action... Culmination
- Start a Party Planning Business
- Gear Your Business With Business Startup Loans
- B2b – (business to Business)
- Promote Your Business in Business Directories - Start With a Website
Got An Office Planning Job In Front Of You?
By: Lauren Hill | 16/11/2009When planning your next office layout plan talk to the experts in office planning who can help you create an office space that is beneficially to you, your business, your clients and your staff.
How to Locate Reliable CMMS Companies
By: Ashley Combs | 16/11/2009When productivity in industrial plants suffers, you are likely to discover that payroll costs and machine maintenance are the culprit. Computerized Maintenance Management Systems can solve both these problems. But how do you find the right CMMS program for you? We have those answers and a checklist to follow.
CV Tips That Work In A Recession
By: Glenn Hughes | 16/11/2009CV Tips That Work In A Recession and help people to get job interviews when previously there was little chance of getting them
Moving Effortlessly to Baltimore
By: Andrew Beene | 16/11/2009A bible passage from Ecclesiastes says, “There is a time for everything, and a season for every activity under heaven.” True enough, even moving and changing homes and neighborhoods has its own season. For people who live in Baltimore, Maryland, the peak season for moving is summer.
Marketing On The Fringe Review - Marketing On The Fringe Scam2
By: Patricker Mullenissimo | 16/11/2009Are you interested to generate free web traffic with the Marketing on the Fringe System? The owner of this site claims that this is a course that will teach anyone how to create free traffic with less than fifteen minutes a day. He promises that this traffic is targeted and maintains a consistent flow over the long term. Does it really work that way or is it just another Internet scam? 1. How is Marketing on the Fringe Different From Other Available Traffic Methods? I have tried ...
House Renovation for Maryland Residents
By: Andrew Beene | 16/11/2009My first renovation project was the bathroom. Bathroom remodeling in MD is highly regarded by handymen since most residents are more likely to buy a house with a beautiful, spacious and clean bathroom. Next was our kitchen and the bedrooms came as finale.
Promotional bags – Best for New and Existing Customers
By: Alesia Watson | 16/11/2009Promotional bags constitute the perfect giveaways for the customers. Whether it is the new customer or the existing ones, everyone will appreciate such gifts and since they are materials of daily use, it is most likely that your brand name will receive widespread publicity in the process.
Regaining Standards of Customer Service
By: Tom Tessin | 16/11/2009In today's business, customer service is a rapidly vanishing standard for employees of large corporations such as banks, telephone companies and insurance companies. There are several reasons for the demise of true customer service and the circumstances of such demise addressed here are the use of first names only, limited...
How to Sort Out the Best Online Home Business Opportunities for Executives
By: Henri Schauffler | 02/02/2009 | BusinessThis recession has many highly trained executives, who thought their career was a secure escalator to the top, suddenly finding themselves out on the streets, circling job openings in the classified section and trying to find anything to make ends meet. When no one is hiring, it can be next to impossible to find a new position. Are you in this predicament?
Executive Jobs: Online Home Business Keys to Success Pt.2
By: Henri Schauffler | 02/02/2009 | BusinessAs you begin your own online home business, it may be tempting to market a product just because you like it or think it will sell. Your personal opinion is not enough, though! You need is a product that has a proven track record. Don't give in to hollow claims. There are distinct things that you need your product to do. Find a proven system that you can duplicate.
Sales Jobs: Try Your Hand at a Direct Sales Business
By: Henri Schauffler | 30/01/2009 | BusinessAre you looking for an inside sales job? Here is a new twist on an age-old, time-tested traditional money-maker.
The Dow is Going Nuts - Will an Online Home Business Keep Me Safe?
By: Henri Schauffler | 11/10/2008 | InternetDuring these very tough economic times, how can we survive? Should we rely on the government to bail us out as individuals, much as it did with all those banks and financial institutions? Henri Schauffler suggests a plan that might surprise you - start your own online home business!
7 Things You Must Know Before Starting Any Online Business
By: Henri Schauffler | 09/09/2008 | InternetOver one million Internet start-up happen EVERY MONTH! Not only is that an unbelievable figure, but get the next one: 5% or less of those will succeed... WARNING: Do not go one step further with your Online or Internet home business until you read this article!
Forty Ways to Improve Your Business
By: Henri Schauffler | 23/06/2008 | BusinessUse this business planning checklist in the form of forty essential questions to tune up your business - whether you think you need a business plan or not. Don't continue another day without considering all forty of these doozies!
40 Ways to Improve Your Business That You Can Act on Now!
By: Henri Schauffler | 16/06/2008 | BusinessHere's a handy little checklist in the form of 40 questions for you to answer about your business; if you're about to start a business and even if you've already got a going enterprise. Don't continue another day without considering all 40 of these zingers!