Recent Articles From EvanCarmichael.com http://www.evancarmichael.com/ http://www.evancarmichael.com/Starting-A-Business/844/Business-Plans-101--Part-2.html http://www.evancarmichael.com/Starting-A-Business/844/Business-Plans-101--Part-2.html A business has a substantially better chance of succeeding if the entrepreneur takes the time to write a business plan. Not only can missteps be avoided, but the process of writing a business plan also allows the entrepreneur the opportunity to think proactively instead of reactively. When dealing with the day-to-day needs of a business the entrepreneur is typically in “firefighter mode,” putting out the fires of the day. Writing a business plan lets the entrepreneur take a step back and think about the business in a “big picture” context. This article continues the discussion of what needs to be included in a business plan, specifically outlining what needs to be included in the financial (or "numbers") portion. http://www.evancarmichael.com/Starting-A-Business/844/Business-Plans-101--Part-1.html http://www.evancarmichael.com/Starting-A-Business/844/Business-Plans-101--Part-1.html A successful business needs a solid foundation. Most entrepreneurs’ missteps are avoidable through proper planning—taking the time to think through and work through all aspects of developing and running a business. This planning should be formalized by writing a business plan. This article explains the purpose of a business plan and includes a detailed discussion of what should be included in the narrative (or "words") portion. http://www.evancarmichael.com/Starting-A-Business/844/ATTRACTING-INVESTORS--A-Compelling-Executive-Summary-in-10-Items-or-Less.html http://www.evancarmichael.com/Starting-A-Business/844/ATTRACTING-INVESTORS--A-Compelling-Executive-Summary-in-10-Items-or-Less.html Attracting an investor is like attracting a mate—you want to pique the investor’s interest without showing all your cards at the outset. The perfect vehicle for achieving this delicate balance is the Executive Summary. The goal of an Executive Summary is to whet the appetite of the investor by presenting a compelling premise, an irresistible hook. Your short (5 pages or less) document is meant to give a potential investor every reason to say “yes” and little reason to say “no” to a face-to-face meeting. http://www.evancarmichael.com/Starting-A-Business/844/Helpful-Business-Plan-Resources.html http://www.evancarmichael.com/Starting-A-Business/844/Helpful-Business-Plan-Resources.html The number of resources available to help write a business plan is virtually infinite. With the aim of narrowing down the list to a helpful few, here are a few of my favorites. http://www.evancarmichael.com/Starting-A-Business/844/You-DONT-Need-a-Business-Plan--3-Excuses-That-Reduce-Your-Chances-for-Success.html http://www.evancarmichael.com/Starting-A-Business/844/You-DONT-Need-a-Business-Plan--3-Excuses-That-Reduce-Your-Chances-for-Success.html Most entrepreneurs avoid writing a business plan until they’re confronted with the ultimate obstacle: a need for outside funding. The first question out of a lender’s mouth, whether an angel, venture capitalist or banker* is inevitably, “Can I see your business plan?” If you don’t have one, the conversation ends there. So if you’re unsure about needing a business plan, or if you’re sure you DON'T need one, you should ask yourself the following questions—just one “yes” means you need a business plan. http://www.evancarmichael.com/Starting-A-Business/844/BUSINESS-PLAN-BLUNDERS--7-Ways-to-Avoid-Shooting-Yourself-in-the-Foot.html http://www.evancarmichael.com/Starting-A-Business/844/BUSINESS-PLAN-BLUNDERS--7-Ways-to-Avoid-Shooting-Yourself-in-the-Foot.html Okay, you’re finally writing your business plan. But will it help you secure the funding you need? Will it be your road map to success—helping you to build a successful business? Most entrepreneurs write their business plans with one goal in mind: to raise money. Even so, a business plan is a double-edged sword. While it allows you to introduce and sell your business to the reader, it also gives the reader the opportunity to say “No, thanks.” Don’t blow your big chance. Now more than ever, you only get one chance to make a good first impression. Below are 7 mistakes to avoid—7 sure-fire ways to shoot yourself in the foot.