This post will review how to start business plan financials. Your cash flow statement, income statement, balance sheet, and other financial metrics are all created from what will be listed in these categories: Category A: Costs Assets Non-asset Capital Expenditures Operation Expenses Payroll Category B: Revenues Item(s) Price Monthly Units Sold Adding items to each […]
Startup Salary: 3 Tips
As a business plan consultant, I often work with startups who are still in the “idea” phase and hire me as their business plan writer to move into the “action” phase. One of the biggest questions I get from these entrepreneurs: can I take a salary from my new business, even before it is profitable? Many of […]
How Long Should a Business Plan Be? The Magic Word Count
One thing I get asked all the time is how long should a business plan be. The first thing I tell people is that they need to stop thinking about length. It’s not important. It is time to talk word count. Writing thousands of words may seem like a lot. It could end up being the equivalent […]
Redefining Financial Freedom: The Story of Denzel Rodriguez, Founder of Builder to Contributor
As a professional business plan writer, I work with clients who cover a broad cross-section of industries. They are at various stages in their business. When I met my client Denzel Rodriguez, founder of Builder to Contributor, he was looking to make a big impact with people wanting to get on the road to financial […]
How to Update a Finished Business Plan
You’ve worked hard, and you now have a finished business plan — congratulations! But before you go skipping off into the sunset, there’s one thing you need to keep in mind.https://player.vimeo.com/video/254948937 Your finished business plan is a moving target. That means it’s going to need to be updated. More than once. In fact, when my clients ask me how […]
Equity Investor: Why You Should Be Cautious Before Making a Commitment
Today, I want to detail the issue of trading equity for services. When a business or startup decides to explore this, the formal term is inviting an “equity investor” to join the team. Many new businesses who are cash strapped think about this as a trade for services. For instance, they may consider exchanging website […]
The HERO Podcast: Creating a Business Plan That Will Walk You to Success Part One: My Superpower
As the founder of Written Success, I periodically get invited to do podcast interviews so I can share some insight on anything and everything related to business plans. A few months back, I was a guest on The HERO Show with Richard Matthews. The episode was titled Creating a Business Plan That Will Walk You to Success, and while we […]
How to Prove You Have a Successful Business Idea
When an investor goes over your business plan, they will look for signs that you have a successful business idea. They want to see evidence that your business will be a success. One of the ways you can hand this to them on a silver platter is by showing them proof of concept. So if you have an […]
The HERO Podcast: Creating a Business Plan That Will Walk You to Success Part Two: The Fatal Flaw That’s Held Me Back
In my last post, I talked about my business superpower, and like any other amazing skill we have, there’s always a flip side. During my discussion with Richard on The HERO Podcast, we deemed this as the “fatal flaw” — the thing that has held me back in my business journey. For me, the fatal flaw is […]
The HERO Podcast: Creating a Business Plan That Will Walk You to Success Part Three: Identifying the Common Enemy and Tackling Limiting Beliefs
In my last post, I talked about my fatal flaw and how it has held me back at times in my business. Just like me, my clients often have some sort of limiting belief that nags away at them and can make it hard to feel absolute confidence in what they’re doing. During my discussion with […]