As the founder and President of a number of businesses, including Salangi Enterprises and Sallee Figs, Salvatore Taddeo Jr. has written a number of business plans during his extensive career. Getting this right ensures your business gets off to the best start, while also allowing you to plan ahead for the future. If you are struggling, try to keep the following in mind.
Accentuate The Vitals
There is some information in your plan that is going to be more important, particularly to potential investors and lenders, than other data. This means that you need to place the key points front and center, so they can be accessed easily by those who need to make key decisions.
Focus On The Finances
The financial details that surround the business are crucial, as failure to keep a tight leash on where money goes out and how you generate revenue leads to a loss of focus, often resulting in the business failing before it can get off the ground. Know your budgets and account for every single penny you spend. Always have one eye towards cutting costs and opening new revenue streams.
Consider The Competition
Few businesses are able to open safe in the knowledge that they have no competitors to deal with. You should aim to create detailed reports on all similar businesses in your area, paying particular attention to what makes them unique. You can then use this information to set yourself apart.
Salvatore Taddeo Jr. is the President of Sallee Figs and Salangi Enterprises LLC. More information can be found at http://www.fig-trees.com/, e-mailed at email@example.com, or by calling 732.864.4147.