PR Xperts is proud to offer Business Plan Writing as a new service for 2012. Writing your business plan is the first and most important step you must take to ensure the success of your business. We have heard many people say “I don’t need a business plan…I don’t need funding”. Obtaining a loan is only one reason why you would need a sound business plan but there are several other reasons to have one written.
For starters, a business plan forces you to take a realistic look at your ideas and business goals. Some ideas are great in your mind but when put down on paper you may realize that it was much more than you expected. Start-up costs versus projected revenues, legal requirements, employee salaries, management, marketing strategies, and the location need to be evaluated prior to starting your business. We have worked with many clients who thought they had a great idea…. until they saw the financial projections. Once they realized that their idea did not make sense financially, it was then time to create a new plan of action to make their dream become a reality. Sometimes all you need to get going is a new strategy and a well written business plan will help you do this.
Our favorite section of the business plan is the marketing plan of course. Why? Because that is what will bring exposure to your business entity needed to meet projected revenues because without this you are destined to fail. Many people think that the marketing plan means advertising exclusively but it covers so much more including economic factors such as:
- What is the total size of your market?
- What percent share of the market will you have?
- Current demand in target market.
- Trends in target market—growth trends, trends in consumer preferences, and trends in product development.
- Growth potential and opportunity for a business of your size.
What barriers to entry do you face in entering this market with your new company? Some typical barriers are:
- High capital costs
- High production costs
- High marketing costs
- Consumer acceptance and brand recognition
- Training and skills
- Unique technology and patents
- Shipping costs
- How will you overcome these barriers?
How could the following affect your business?
- Changes in technology
- Changes in government regulations
- Changes in the economy
- Changes in your industry
These are all very important questions to ask yourself before investing any of your time or money. We know this sounds overwhelming but that’s why PR Xperts is here to help! Contact us today!
Business Plan Samples available upon request.
(Note: Due to confidentiality agreements, we are only allowed to share with the public the Executive Summary/General Company Description)
Business Plan Quote Form