Your brand should differentiate you from other players in your field your competitors and it will also determine who your buyers will be. At the highest executive levels, officers and board members may be concerned with the philosophical direction of the company, the organization s mission, and the meanings of the company s brand in the market. You ll use proper, respectful, and easy-to-understand language to make sure your audience clearly gets your message. A large enterprise would simply hire a few more modestly paid customer service reps, credit department staff members, or bookkeepers to handle the added orders, invoices, and the like.
Rumors about the competition
Put
another way, if
you choose the wrong business, you re going nowhere. When
you do regular
business with customers, you are just doing business as usual. This
will elevate their
leadership skills and make them accountable and responsible for the end results of their people. When
a business starts
generating profits and plowing them back into the firm, value can build rapidly.
How to survive and prosper even if you aren?t clearly better than the rest
It
can also help
if your product is more specific. Sometimes
potential strategic partners
may also be potential competitors, so you may want to present your plan in stages, saving sensitive information such as financials and marketing strategies for later in the process when trust has been established. Wealth
allows you to
make choices about how to spend your time and money. Know
and track your
numbers. Will your employees be paid hourly or will they be salaried?
Does
this mean you
should ask for a good deal more money than you actually need in your plan? Investing
indicates that you
are planning ahead and looking to make profits either through long-term growth or through dividends and other income-producing investment vehicles. A
product description is
more than a mere listing of product features. A
useful business plan
can be any length, from that scrawl on the back of an envelope to more than 100 pages for an especially detailed plan describing a complex enterprise.
What can derail your plans?
What
Bankers Want
A banker s first concern is getting the bank s money back plus a reasonable return. The
microscope shows a
hundred things the naked eye cannot see. You
can have someone
else pay your bills, send out the invoices, prepare financial reports, and do the accounting, but the owner MUST be responsible for the numbers every day, week, and month. A
small software company
whose mission statement included the goal of putting Microsoft out of business would be looked upon as foolishly naive.
Be consistent and not say different things on different platforms
These
companies are market
leaders and don't try to be all things to all customers. Install
financial systems and
software. When
you re writing
a business plan to raise money, you may want to consider venture capitalists and their unique needs. The
ordinary wage
system has at least the merit that the reward of the laborer is made dependent only on his own efforts.