Developing a Business Plan
Many clients come to us looking for someone to write their business plan. They think it is like ordering Chinese Food – “a little of this, a little of that and I’ll stop by later to pick it up.” If you simple want a business plan to follow what you are looking for is franchise. They develop the product mix, set the pricing, figure out the marketing and hand you a plan to follow and execute. And it’s a perfectly viable way to get into business. But that is not what we do.
Jake Knows Inc
We work with entrepreneurs and assist in developing a business plan. As important as the finished business plan is, equally important is the process. In developing a business plan from scratch – together we explore the market, determine an unmet need, create product or service in response to the need, figure out how to position it, figure out how to price it, determine breakeven, overhead and ultimately what will get the business to profitability.
It sounds like a lot, and it is. The goal is to ensure you understand your business and the competitive landscape you are facing. We will crunch numbers, create projections and determine the feasibility of launching this venture before you’ve signed a lease, quit your job or sunk your life savings into an idea.
For most people, starting a business is more than hoping to get rich. And since running a business can be very encompassing, it is important to understand why the entrepreneur is doing so in the first place. Some people want schedule flexibility to be with their children, Others want the creative freedom to develop new products and explore new ideas. Others want to make the world a better place.
Whatever the reason, the business still needs to make money. We work together to make sure your personal goals are compatible with a viable business idea. You can’t make a better mousetrap, if you are worried about paying the bills.
Market analysis to determine what groups of customers (or markets) exist, what their needs are, what groups of customers you prefer to serve (target markets), what products or services you might develop to meet their needs, how the customers use the products and services, what your competitors are doing, what pricing you should use and how you should distribute products and services to customers. The plan will indicate the position, or market “niche”, for the organization. The marketing plan will also address ongoing promotions, which can include advertising, PPC and Adwords, social media branding, public relations, sales and customer service.
The business plan becomes your road map to launching and growing your business. And as part of the process, we will develop action plans to help you execute the business plan. What needs to get done? When? By Who? Where? At what cost?
We will help you create the discipline and the routine so that you can work to create the results you desire for your business. We offer you our extensive financial and business expertise, so that can save you time and money as you manage your business. We will help you achieve your success more efficiently and effectively.
Business Financial Statements
We firmly believe that you can’t run a successful business if you don’t get the numbers. You decisions will have a direct impact on the bottom line and whether the doors stay open. We work together to determine start up costs, cash flows, sales projections, break even analysis and financial statements.
It is important to understand the numbers and what they are telling you. Your receivables are growing, is that good thing? How many jobs do you need to do to cover overhead? Can you afford to buy that new truck? We make terms like ROI, B/E, COGS understandable and useful. We call this Financial Literacy.
Cash Flow Management
In the beginning, it all about cash flow. How much do you need to launch this business. We call that starting capital. How much do you need to get to break-even? We call that working capital. Where is it coming from – Your savings? An investor?,Will you need to keep your day job? We work through those questions together and develop a break-even capital needs assessment.
Cash flow is about making sure there s enough cash when the need arises. Is there enough cash for the rent? To pay for merchandise? To commit to hiring a part time employee? Through cash flow statements and financial projections, we can begin to answer these questions.
We Are Here to help
We know the fear and frustration of launching a new venture – because we’ve been there ourselves. With Business Executive Coach you’re never alone. We offer online meetings via Skype and Google+ hangouts to get you started.
We help clients develop or fine-tune their strategy and business planning process, by providing both internal and external diligence. Results include a company mission, a focused business plan for future growth and profitability, and funding proposals and introductions.
We recognize that it takes much more than financial support to get a company off the ground, thus we provide assistance in every aspect along the way allowing you to develop and grow a profitable business.
We are happy to meet in person, chat on Skype or Hangout on Google+ – Whatever works best for you.