By David H. Bangs
Forbes named "The enterprise making plans advisor" as its favourite, most respected small enterprise ebook. during this new version, small company proprietors can ramp up their technical savvy at the enterprise making plans entrance, whole with info on utilizing the net as a enterprise making plans instrument.
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Extra resources for The Business Planning Guide: Creating a Plan for Success in Your Own Business
Is your business primarily merchandising, manufacturing, or service? What are your products and/or services? Who are your customers? Where is your industry on the industry life cycle? ) 2. What is the status of the business: A startup? An expansion of a going concern? A takeover of an existing business? A division of a larger business? 3. What's the business's form: sole proprietorship, partnership, corporation? (Your attorney's advice is essential if you are starting up a business. Use the sample partnership agreement and corporate checklist in Appendix 1 as a guideline.
Call up the editor of your trade magazinemarket analyses, with customer profiles and other useful information, are a stock-in-trade for these experts, and they will be glad to steer you to more information. These indirect sources of customer information are especially useful for startups. You want to be able to identify your best (most profitable to you) prospects and understand them well enough to be able to satisfy their perceived needs. If you are marketing primarily to businesses, this process has a few added dimensions: First identify the kind of company you are < previous page page_22 next page > page_23 < previous page next page > Page 23 successfully selling to, then find the persons within those businesses who influence or make the buying decision, and then find out more about these individuals.
Remember, if a business is sliding downhill, there may be reasons that aren't immediately apparent. Check out the owner's reasons for selling. Ask his bankers. It is difficult to restore a tarnished reputation, and it can't be done overnight. 6. How will your management make the business more profitable? If you can turn around a faltering business, the rewards can be great. Just make sure that you have the skills, capital, and patience turnarounds require before you commit yourself. Some additional suggestions to keep in mind as you check out the business are as follows: • Evaluate and determine the age of the inventory.
The Business Planning Guide: Creating a Plan for Success in Your Own Business by David H. Bangs