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What is a Business Plan?
The business plan is a written statement of business intent. A
comprehensive Business Plan plan covers every essential and core aspect of the
business from soup to nuts. This document
serves as a management tool to fine-tune direction, strategies, and unify the organization.
The Business Plan also serves as a broad policy statement for external stakeholders such as customers, suppliers, and bankers.
From YOUR viewpoint as the business owner or top executive, a well-prepared business plan
is a highly effective decision-making tool. To keep that tool in good working condition,
your business plan should be updated at least once a year. Moreover, the process of
developing your business plan is one of the most complete and effective ways to evaluate
your business.
What is in a Business Plan?
The contents of a typical business plan includes a statement of purpose, business
location, profile of the firm and the industry, and critical success factors. It also
describes the type of organization, ownership and management, responsibility, job
descriptions, market analysis, fiscal policy, sales forecasts, revenue projections, and an
expense budget. A well-managed business plan is a great decision making tool and helps to
control expenses and cash flows.
Statistics about Business Planning
In a 1996 survey, 45% of business owners said "my business plan and my strategy are
here in my head." Fine, but who can read your mind? Your customers, suppliers,
attorney, accountant, or banker?
Statistically speaking, 80% businesses that failed never started out with a business plan
and 95% of those folded because they didn't
adequately plan for the future. They were too busy "running
things."
Why Do I Need A Business Plan?
From a management perspective, not having a business plan is kind of like flying through
fog without instruments: Not very smart. By the time you notice have a problem, you could
be rapidly approaching disaster and not have enough time to change course.
Cash is King. That is what we always hear and that is what makes the world go round. If
you need a loan to finance your business, chances are the banker will ask to see your
business plan. So now, you need a $90,000 loan to finance receivables, and inventory, and
you need another $450,000 for new equipment. You just closed a great deal with a customer,
and it all hinges on financing. If you had your business plan completed, you would not be
staying up late for weeks putting together a hodge-podge document.
Is it Difficult to Write A Business Plan?
Nothing on this earth is difficult when you have the right combination of knowledge,
skill, and experience. Developing a Business Plan is lots of work - hard work, and few
short-cuts enhance completion of this work.
The process of Business Planning leads one to focus on every
aspect of the business from the top-down. When we write a
Business Plan for you, we look at the business model and its
constituents. We help to clarify motivations, interests, and goals.
We examine logistics, facilities, the industry, the competition, customers, strategies,
management, marketing, organization, operations, value chain, and finance.
A well-written Business Plan is one that concisely describes every aspect of your
business. Writing a Business Plan is a daunting challenge. It requires considerable
forethought and structured thinking. It involves knowing what to research, where to
locate
data, organize meaningful information, and intelligently link it all together.
How long does it take most people to write their own plan?
Depending upon the level of complexity, and with expert guidance, the motivated person can
do it in six-to-ten weeks if s(he) is willing to invest the time, energy, and thought
processes. Without help, it can take much longer. People run the risk of losing momentum.
Complete Business Plans in 4-14 Days
When time is an issue, MIRA has the capability to develop and deliver your Business Plan
FAST - in about 4 to 14 Days.*
Moreover, after a short review period, we can provide your revised and finished version
only one or two days later, ready to submit to your banker or investor. (*Per written
quotation).
Why Hire MIRA to Write My Business Plan?
We identify several reasons (table to left) why you will want to hire MIRA for your
company Business Plan. If you don't you have the time, then use MIRA. If you don't have
six months to write your business plan, then call MIRA. If time is critical, you must ask
yourself this question: "If I try to do the Business Plan on my own, will the
opportunity be there by the time I finish the business plan?"
Before submitting the Business Plan to your Venture Capital firm, Banker, or Investor, ask
yourself these questions: Is it properly prepared? Will my Business Plan tell the story in
a way that investors or bankers need understand? Will it be objective and still tell the
story? Will it get my idea across? Will it have diagnosed potential expensive lessons in
business? Finally, who wants to be the leader? Those who move fast, work effectively, and
get their product to market first usually become market leaders. DON'T LET
YOUR BUSINESS PLAN BE THE ONE THING THAT PUTS YOU
BEHIND SCHEDULE! Solution - Call MIRA Consulting
What about Business Plan Software?
Well, not exactly junk, not exactly flawed, not exactly friendly, and certainly not for
everyone. On more than on occasion, our clients tried as many as three software packages.
It did not work for them. It is a cheap solution and you get what you pay for. You
still must write the plan and it still requires your valuable time and concentration.
Business plan software does not/cannot think. It is not intelligent. It cannot
reason. It cannot analyze your business concept. It can't assemble seemingly unrelated
facts into important conclusions. It cannot translate your vision into good decisions, and
it won't analyze your Business Plan for inconsistencies or credibility flaws.
Most importantly, you cannot have a conversation with Business Plan software. You cannot
exchange ideas with it. Business Plan software only allows YOU to enter information. It
won't do you any favors. It won't tell you what you left out. It won't tell you areas
needing improvement. Business Plan software can let you learn an expensive lesson, rob you
of your time, and it won't care about the outcome.
On the other hand, MIRA Consulting CARES A GREAT DEAL
about clients and their successes.
What Does a Professionally Written Business Plan Cost?
The cost to do a Business Plan varies. Large consulting firms often charge in excess of
$20,000. MIRA typically charges less. Ultimately, the cost of a Business Plan plan
depends upon many factors such as complexity, detail, and length.
So, tell us what you need. Tell us about your company, what you want to do, and when you
want to get there. We will help you develop a plan to get you there. Ask us for a
proposal.
At times, we have accepted an equity position in lieu of cash. Our fee depend upon many
factors such as the amount and depth of detail needed, availability of background
information, and quality of data. Fees also depend upon the amount of accurate homework
you have done in advance.
How Do I Get Started with MIRA Consulting?
Congratulations! You have made a very important decision. MIRA Consulting is the right
choice for your Business Plan. You are proceeding on a wise course because you are drawing
on some of the very the best skill and experience in Business Plans.
Step one: Telephone MIRA Consulting today. Arrange for an
appointment by phone or in person. After we agree on the services you need, a MIRA
representative will prepare a proposal covering services, scope of work, time
requirements, deliverables, and the general agreement for services.
Step two: This commences after we finalize the agreement. A retainer commences the
engagement. We then proceed by
collecting detailed information from you. We also conduct research for background
information, cost data, bids (if necessary), and other information.
Step three: We then follow up by asking our client's a series of questions designed to
clarify goals and interests, concepts, and identify assumptions upon which the business
model is built.
Step four: We add that information into to the Business Plan, finalize the first
draft, and deliver. A few days later, we discuss the work and make a note of any change
requests. At that time, we advise the client as appropriate. After exchanging ideas and
addressing changes, we provide a finalized version.
Step five: Implementation is one of the most important steps. At your election, we will
continue working with you to help implement your Business Plan. On a periodic contract
basis, we can schedule future discussions geared towards launching the business activity
or we can help you compare results to stated objectives. ...
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