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 […]
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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 […]
Researching Your Micro Industry
When writing a business plan, you straddle the fine lines between the need to know, nice to know and too much information. These decisions are common throughout the entire business plan creation process. The challenge is even greater when it comes to deciding what to focus on for your micro industry section. At the point where you’re starting […]
The HERO Podcast: Creating a Business Plan That Will Walk You to Success Part Six: Finding Your Guiding Principles
In my previous posts relating to my interview on The HERO Podcast, we’ve covered a lot of ground — my superpower, fatal flaws, driving force, along with the common enemy facing my clients and what I rely on in my business toolkit. One thing that makes entrepreneurs a special breed is their tenacity. We get knocked down, […]
Get it Right the First Time: Avoid these Business Plan Mistakes
Like anything else we do that’s unfamiliar, when it comes to writing a business plan and trying to avoid business plan mistakes, we don’t know what we don’t know. Case in point — me. When I wrote my first business plan I made three different mistakes without even knowing it. Writing a business plan can seem like an overwhelming […]
Adding Author to My Resume: How to Write an Exceptional Business Plan
There’s something really exciting about to happen here at Written Success! Let me tell you, it’s been a long time in the making! Monday, January 6th, marks the official release date of my new book, How to Write an Exceptional Business Plan — and I couldn’t be more excited. As anyone who’s ever started a business knows, some dreams take a […]
Writing a Business Plan: The Executive Team Section
There are multiple components that make up a business plan. While you’re busy working on your market research or executive summary, there may be other parts of the plan that seem like they’ll be a piece of cake to write — like the executive team section. In theory, listing out the names of the executive team […]
Why Your Business Plan Needs an Executive Summary
While a great business plan has many components, it could be argued that your executive summary is THE most important element. Think of it like selling a house. No matter how great the bones of the house are, or how desirable the area is, a savvy seller is going to clean, organize and stage the house. Why? […]
How to Write a Macro Industry Section that People Actually Read
Research is an integral part of prepping for your business plan. It’s one of those things where it’s all too easy to get overwhelmed and completely lose your way. You need to paint a picture of the macro industry. But with so much information available, you may find yourself struggling to decide what does and does […]
Market Research for Your Startup: How to Get Started
One area of a business plan that startups often struggle with is the market research portion. You can gather and interpret what seems like an endless amount of information. It can feel like an overwhelming task. Although this section can seem a bit arduous, it’s worth your time and effort to get this section nailed down. So […]
