“Show Me Your
work to secure financing for your business, this may be your first
requirement from a banker or investor.
seeking financing, you may begin by outlining your background and
successes. However, your business plan will determine whether or
not you will get the investment you require.
realistic, detailed business plan, you will not secure adequate
business plan must address your market, your products/services, and
your competitors. You must identify who you will sell to. You will
need to provide projected, best case, and worst case income and
expense estimates. Plus, you will need to show your plans for
managing People, Processes, Products, and Promotion.
SECTION #1: Who are you
and what will you be selling? Include a brief but compelling
statement of your background and successes. If selling to
businesses, who will be your ideal customer. Who are your
competitors and what is your competitive advantage.
to the public what is the location, age, gender, income level,
marital status, education, etc. of your ideal customer? Be
specific. Anticipate questions about these subjects and answer them
in your business plan.
SECTION #2: This is your
numbers section. First, estimate your total
monthly sales. Detail
your sales by products or product categories, service sales, and
add-ons. Will these be purchased online, at a location, or both?
What is your pricing strategy? What are your total estimated
projected expenses in the following categories: a)
The cost of
products or services sold. b) Your
projected personnel expenses
including wages, bonuses, income and payroll taxes. c)
List fixed expenses
such as rent or mortgage payments, utilities, and insurance. d)
List variable expenses
such as management, advertising, contractors, and equipment
subtract total expenses from total income showing your
projected monthly net
profit. Then repeat this exercise again twice, using
both best and worst case
scenarios. Include all three statements in your business
SECTION #3: Include
separate descriptions for these 4 areas.
How many will be required, where will you find them, and how will
they be organized and trained?
How will you source, produce, and deliver what you
Products/Services: What, where, and how will you be selling
to your customers.
How will you promote what you sell to your prospective
business plan is your best brochure. It represents you, your
organization, and your team. Using this format, along with your
ability to share your vision for the future of your team, will get
you the best possible financing terms or investment to grow your
organization requires a professional business plan, contact
me, Larry Bonorato, at
864-630-2625 or at email@example.com.
help you secure financing by crafting a compelling, professional
And, that is today’s Morning
Morning Minute: 10/06/23
“How Will You…Learn To Lead?”
Ever wonder how great coaches, performers, and leaders became
They didn’t start at the top. They learned to lead by being part of
a team, by apprenticing with top performers, or by gaining the
experience following the leaders they served.
“Before you can learn to lead, you must first learn to
Ronald learned the values of hard work, honesty, and the drive to
succeed from his parents. As a teenager, he enjoyed playing
football. Although never achieving star status, he learned
responsibility, discipline, and the value of teamwork from his
coaches. Ronald learned how to follow.
Even though Ronald never achieved greatness in sports, he would use
those values he learned as a boy. Ronald Reagan would go on to
serve as president of the Screen Actors Guild in Hollywood, as
Governor of California, and as President of the United States. What
he learned as a follower, he would later use to become a great
John learned the values of honesty, hard work, morality, and
dedication from his parents and coaches. He learned to follow as a
team member in a variety of sports. Excelling in basketball, John
would become a star player, earning a college scholarship. He had
learned how to follow.
He would later become head basketball coach at UCLA. John Wooden
led the Bruins to 10 national championships in 12 years. His focus
on fundamentals, his ability as a master motivator, and his
dedication to his players success, guided his success as one of the
greatest college coaches of all time.
Jack came from a middle class New England family. He was a star
baseball player all the way through high school, learning the
values of discipline and teamwork. Graduating at age 16, Jack was
offered a contract to play with the New York Yankees. He had
learned how to follow.
Instead, Jack earned his degree in chemical engineering, going to
work for a struggling manufacturer, where he worked for 41 years.
Under the leadership of Jack Welch, General Electric became one of
the largest, most successful companies in the world. He has been
widely praised for his innovative leadership style and credited for
revolutionizing business management.
Ronald, John, and Jack learned to follow as good team members. They
became great leaders by using that knowledge, coupled with their
distinctive leadership styles, to become successful leaders in
government, sports, and business.
That is today’s Morning Minute.
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