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Business Model vs. Business Plan

This is the third of a three-part series. Read Part I and Part II. A business plan is essentially a more detailed version of your business model. A business plan has been traditionally understood as a physical document, although increasingly this view has changed as business plans have migrated online. The business plan format very much [...]

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Financing your Start up Business

Decisions regarding how you finance your business should be taken very seriously as it is one of the most critical decisions you will make at the start-up phase and forms a key part of any business plan. When considering the different financing options, you need to spend some time learning about the conditions that come [...]

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Black Swans and Strategic Planning

Having written previously on ‘Planning in times of uncertainty’, I felt it necessary to revisit the subject given the continuing uncertainty we all face. My core argument in that article was relatively straightforward: that planning becomes more important in times of uncertainty, rather than less so. As The Economist proclaimed in a recent edition; “Precisely [...]

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The importance of accuracy in a bussiness plan

When a business plan is being produced it is important that the final plan makes a lasting impression on the recipient. However an all too common trend is for the business plan to make an impression for the wrong reasons. Incredible as it may seem, one of the most common mistakes we see is the [...]

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The Business Pitch

The pitch The use of phrases such as ‘business pitch’, ‘elevator pitch’ and ‘video pitch’ have grown in popularity in recent months. But what are these terms and what do they mean for entrepreneurs? This short article describes the concept of pitching in detail, as well as recommending some tips for those needing to pitch [...]

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The Definitive Guide to Starting a Business

Starting a new business is a very exciting time – however, it is also very challenging. Luckily there is plenty of help at hand for those who are clever enough to look for it. Did I say clever? Yes, I did, because many entrepreneurs charge headlong into their pet projects without giving due consideration to [...]

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The Easiest Way to Write a Business Plan

Writing a Business Plan So, you have decided to start up a new business. You begin to do some research and find that almost everything you read recommends that you produce a business plan. Why is this so? Because the benefits of compiling a business plan are numerous – not least, the fact that committing [...]

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Why You Should Enter a Business Plan Competition

Business Plan Competition There has never been a better time to enter a business plan competition. However, despite a number of new competitions being launched in the UK in recent months, for many entrepreneurs, the rewards have not seemed sufficiently juicy to tempt them to submit an entry. The following five sections detail the reasons [...]

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What Makes a Good Business Plan?

Better Business Plan Is it the length of the business plan? The information it covers? How well it’s written, or the brilliance of its strategy. No. The following illustration shows a business plan as part of a process. You can think about the good or bad of a plan as the plan itself, measuring its [...]

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How Long Should a Business Plan Be?

Business Plan Structure Page count is not a good way to measure length. A 20-page business plan with dense text and no graphics is much longer than a 35-page plan broken up into readable bullet points, useful illustrations of locations or products, and business charts to illustrate important projections. Measure a plan by readability and [...]

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