| Tap these treasures of ideas. The best money | | | | what great |
| you can spend | | | | |
| | | | business owners and entrepreneurs do |
| is money invested in your business plan | | | | instinctively and |
| education. Don't | | | | |
| | | | persistently. Charan explains the basic |
| shortchange yourself when it comes to | | | | building blocks of |
| investing in your | | | | |
| | | | business and how to use them to figure out |
| dream. Start gathering samples of business | | | | how your company |
| plans and collect | | | | |
| | | | can, does, or will make money and operate as |
| business plan books and get a business plan | | | | a total |
| library started, | | | | |
| | | | business. Learn how to use these building |
| it can change your future. Here's what your | | | | blocks to cut |
| library needs to | | | | |
| | | | through the clutter of day-to-day business |
| show: that you're a serious student of | | | | and the |
| business strategy and | | | | |
| | | | complexity of the real world. What the CEO |
| planning, finance and economics, selling, | | | | Wants You to Know |
| and writing.Sample Business PlansStart by | | | | |
| gathering sample business plans. Look at the | | | | by Ram Charan. This little book is only a |
| annual | | | | 137 pages: but I'm |
| | | | |
| reports and S-1s, S-4s, 10ks, or 10Qs filed | | | | telling you, it's so well written you'll be |
| with the | | | | as intrigued as |
| | | | |
| Securities and Exchange Commission (SEC) of | | | | I was. What the CEO Wants You to Know by Ram |
| companies in | | | | Charan. Get it |
| | | | |
| your industry. See how they present their | | | | for your business plan library.WritingNext |
| case, explain | | | | is writing. You have to be able to get your |
| | | | thoughts |
| their business, and discuss their industry | | | | |
| and competition.What exactly are these forms | | | | down on paper. Businessese, academese, |
| and how do you get them? Good | | | | legalese - all appear |
| | | | |
| question.These are forms that public | | | | too often in business plans. Often |
| companies must file with the SEC | | | | preventing a |
| | | | |
| in order to register their securities or to | | | | knowledgeable writer with good intensions to |
| maintain the registration | | | | fail at getting |
| | | | |
| of previously registered securities with the | | | | the message across to an intelligent, |
| SEC. You can find | | | | interested reader. For |
| | | | |
| these forms by going to clicking on the | | | | some reason, when people write business |
| Edgar | | | | plans they are |
| | | | |
| database, and searching for a public company | | | | compelled to write "commence" and "prior to" |
| in your industry.The key is to find the most | | | | instead of |
| helpful filings. These are the ones | | | | |
| | | | "begin" and "before." If you want to write |
| labeled S-1, S-4, 10K, and 10Q. They usually | | | | an effective |
| contain | | | | |
| | | | business plan, your business plan library |
| descriptions of the business, its products, | | | | must have books on |
| industry, competitors | | | | |
| | | | how to be an effective writer.Start with |
| and strategies. Sections that should sound | | | | Edward Baily; he wrote a surprisingly |
| familiar to you if you | | | | |
| | | | straightforward book called The Plain |
| are planning to write a business plan.Go to | | | | English Approach to |
| these sections and read how the company | | | | |
| presents their | | | | Business Writing. This book, The Plain |
| | | | English Approach to |
| business and its products. Look at how they | | | | |
| describe the industry | | | | Business Writing, is about writing as you |
| | | | would talk, which |
| and their competitors. I encourage you to | | | | |
| read as many filings in | | | | not only makes your writing easier to read, |
| | | | it's also makes |
| your industry as possible. See what the "big | | | | |
| guys" are saying, the | | | | it easier to write. In a brief, entertaining |
| | | | 124 pages Baily |
| issues, challenges, and trends they see in | | | | |
| the industry and how | | | | clearly lays out the dos and don'ts of plan |
| | | | English, |
| they're attacking them.Be careful though | | | | |
| about mimicking what they write. Many of | | | | illustrating them with examples drawn from |
| these | | | | business |
| | | | |
| documents are written in legalese despite | | | | documents, technical manuals, trade |
| the SEC's protestations | | | | publications, and the |
| | | | |
| and push for plain English. Just remember, | | | | works of writers like Russell Baker and John |
| you're doing this | | | | D. MacDonald. |
| | | | |
| exercise to see how other companies have | | | | The Plain English Approach to Business |
| built their case to | | | | Writing offers |
| | | | |
| business investors.Another approach is to | | | | practical advice on clarity, precision, |
| gather and read professionally | | | | organization, |
| | | | |
| written business plans of companies in your | | | | layout, and many other topics. Best of all, |
| industry and use | | | | you can read it |
| | | | |
| them as guides to prepare your plan. Try to | | | | an hour...and use it for the rest of your |
| avoid generic | | | | life.But writing well is only a part of |
| | | | writing. A good business |
| business plan templates. They're too general | | | | |
| and often not | | | | plan must be persuasive. Listen carefully to |
| | | | what I just |
| worth the investment. Either way. Start | | | | |
| filling your | | | | said: persuasive. Not misleading or |
| | | | untruthful, but |
| business plan library with business plans | | | | |
| and registration | | | | persuasive.Here's a book you need to look at |
| | | | Persuading on Paper. How's |
| statements. Keep them close by and refer to | | | | |
| them often as | | | | that for a title? Persuading on Paper by |
| | | | Marcia Yudkin. |
| you write your business plan.StrategyNow, | | | | |
| here's a good book to start your business | | | | Yudkin is a writing consultant who coaches |
| plan library | | | | small-business |
| | | | |
| with. It's called: Competitive Strategy by | | | | owners and professionals on improving their |
| Michael Porter. | | | | marketing |
| | | | |
| In this landmark book, Competitive Strategy, | | | | materials. In a witty and vivid style, |
| Porter shows | | | | Persuading on Paper |
| | | | |
| you how to identify the forces that drive | | | | shows you how to use the written word to |
| competition in | | | | convert strangers |
| | | | |
| your industry. Learn what moves your | | | | to prospects to paying customers (or in our |
| competitors are likely | | | | case, |
| | | | |
| to make within it. Competitive Strategy | | | | investors). What I like about this book is |
| provides a framework | | | | that Yudkin takes |
| | | | |
| for evaluating the competitive alternatives | | | | you step-by-step through the process of |
| you must | | | | creating marketing |
| | | | |
| consider and for thinking about how to | | | | materials that sell. Don't underestimate the |
| change the rules of | | | | power of |
| | | | |
| the marketplace in your favor. Competitive | | | | marketing copy in your business plan. You'll |
| Strategy is the | | | | be surprised |
| | | | |
| bible venture capitalist, investment | | | | how her methods and strategies can help |
| bankers, and business | | | | create a more |
| | | | |
| development executives use when analyzing an | | | | powerful business plan. Persuading on Paper |
| industry or | | | | is a must-have |
| | | | |
| business venture. I use this book as the | | | | for anyone who wants to attract more |
| centerpiece of my | | | | clients, customers, or |
| | | | |
| business plan library. So I'm just asking | | | | investors.Raising CapitalNext is an |
| you to take a look | | | | understanding of the process of obtaining |
| | | | |
| at Competitive Strategy by Michael Porter. | | | | capital. No business plan library would be |
| If it suits you | | | | complete without |
| | | | |
| fine, if it doesn't suit you, keep looking | | | | a book on the process of raising capital. |
| till you find | | | | Without capital |
| | | | |
| something that helps you understand | | | | your venture is destined for failure. You |
| strategy.Opening your mind to strategic | | | | need to learn how |
| alternatives is a creative | | | | |
| | | | to select the right venture capital firm, |
| process. You can never have too many books | | | | make |
| on strategy in | | | | |
| | | | presentations, and negotiate your deal.Try |
| your business plan library. Read as much as | | | | this book: The Venture Capital Handbook by |
| you can to learn | | | | David |
| | | | |
| why some companies can sell their products | | | | Gladstone. As an executive officer at Allied |
| more cheaply than | | | | Capital |
| | | | |
| others. Why others provide the best | | | | Corporation, a large publicly-owned, venture |
| products...products that | | | | capital firm in |
| | | | |
| are just far superior to their competition. | | | | the United States, David has reviewed many |
| And, why some | | | | proposals for |
| | | | |
| companies just always seem to provide | | | | venture capital financing. The Venture |
| unmatched service.Fill your business plan | | | | Capital Handbook |
| library with business books that | | | | |
| | | | takes you through the entire process from |
| inspire, challenge and answer these | | | | presentation |
| questions. Read. Read. | | | | |
| | | | through negotiations, commitment letters, |
| Read. And, study too. Find out how some | | | | legal closings, |
| companies are | | | | |
| | | | due diligence, the exit by the venture |
| reinventing competition in their markets and | | | | capital company, to |
| obtaining | | | | |
| | | | when the entrepreneur is left to own it all. |
| funding while others are seemingly oblivious | | | | As a result, |
| to the changing | | | | |
| | | | The Venture Capital Handbook provides anyone |
| world around them.Michael Treacy and Fred | | | | who wants to |
| Wiersema set out to find answers to | | | | |
| | | | spend the time and money with an insight |
| these types of questions in their book The | | | | into what venture |
| Discipline of | | | | |
| | | | capitalists really want. Prepare for the |
| Market Leaders. Although the authors won't | | | | process of raising |
| appreciate this | | | | |
| | | | venture capital with The Venture Capital |
| comment, I found the underlying fundamentals | | | | Handbook.SellingFinally, study the art of |
| in The | | | | selling. Like it or not, when you |
| | | | |
| Discipline of Market Leaders to closely | | | | are trying to start a business venture or |
| parallel those laid | | | | raise money for |
| | | | |
| out by Porter in Competitive Strategy. | | | | your business you have to sell investors on |
| Perhaps that's why I | | | | why they should |
| | | | |
| like it so much. The difference, however, is | | | | invest with you. It's like a rite of |
| that they | | | | passage. But fast |
| | | | |
| present their material in a less academic, | | | | talking salesmanship won't raise the money |
| more engaging | | | | you need for your |
| | | | |
| way. And, they provide excellent case | | | | business. You need an approach that respects |
| studies that are sure | | | | the power of |
| | | | |
| to generate many aha's! The Discipline of | | | | the investor...one that builds a |
| Market Leaders | | | | relationship with investors. |
| | | | |
| will make you think about what it is your | | | | So, fill your business plan library with |
| company or new | | | | books on selling |
| | | | |
| venture does better than anyone else; what | | | | and presenting.Here's a book to try: |
| unique value do | | | | Socratic Selling by Kevin Daley with |
| | | | |
| you provide to your customers? How will you | | | | Emmett Wolfe. Socratic Selling as the title |
| continually | | | | implies, uses |
| | | | |
| increase that value? If you can't easily | | | | the Socratic Method: "A method of teaching |
| answer these | | | | or discussion, as |
| | | | |
| questions about your business, The | | | | used by Socrates, in which one asks a series |
| Discipline of Market | | | | of easily |
| | | | |
| Leaders is required reading and a must for | | | | answered questions which inevitably lead the |
| your business | | | | answerer to a |
| | | | |
| plan library. The business owners and | | | | logical conclusion" (Webster's Unabridged). |
| entrepreneurs that can | | | | Dalely's |
| | | | |
| answer these questions are not only raising | | | | concise, easy-to-follow chapters explain how |
| the value bar in | | | | to open a sales |
| | | | |
| their industries, they're raising capital | | | | dialogue and go right to the heart of the |
| for their | | | | matter. Socratic |
| | | | |
| businesses!Finance and EconomicsBe sure to | | | | Selling is a fun and informative 162 pages |
| keep your business plan library well | | | | for those of us |
| balanced...Let me give you a sense of that | | | | |
| balance. First is finance | | | | who believe selling means talking with, not |
| | | | at, investors. |
| and economics. We all have got to have a | | | | |
| sense of how to | | | | Study these techniques; they can make you |
| | | | more effective |
| make money...the universal laws of business | | | | |
| success, no | | | | with potential investors.If you are serious |
| | | | about writing your business plan...show it. |
| matter whether you are selling fruit from a | | | | |
| stand or running | | | | Start a business plan library that shows you |
| | | | are a serious |
| a Fortune 500 company. Finance and economics | | | | |
| are the basic | | | | student of business plans. Fill it with |
| | | | business plans, |
| building blocks of business. Your business | | | | |
| plan library | | | | public filings and annual reports of |
| | | | businesses in your |
| needs a few books on the numbers. When you | | | | |
| understand the | | | | industry. Stay away from those generic |
| | | | business plan |
| basics of finance and economics its possible | | | | |
| to bringing the | | | | templates. They are too general. And, Read, |
| | | | read, read and |
| most complex business down to the | | | | |
| fundamentals. You become | | | | study too about strategy, finance, |
| | | | economics, writing, selling, |
| empowered to focus on the basics and make | | | | |
| money from your | | | | and how to raise capital. Spend the money. |
| | | | Buy the books. The |
| venture.Here's a good book to help you in | | | | |
| this area: What the CEO | | | | reward can be great...a funded business |
| | | | plan.Mike Elia is a chief financial officer |
| Wants You to Know by Ram Charan. What the | | | | and an advisor to venture capitalists and |
| CEO Wants You to | | | | leverage buyout specialists. To learn more |
| | | | about writing business plans and raising |
| Know captures the basics of finance and | | | | capital or to tap into the world's largest |
| economics and | | | | business plan library with over 900 industry |
| | | | specific business plans, visit - Business |
| explains in clear, simple language how to do | | | | Plan Secrets Revealed. |