Starting up small business

[$ohni]

Hi I'm new to this forum,

I'm forming up an small IT based solutions business in my city, I'm in a middle of writing up a Businss plan. Everything is wel structured in my mind.. but i'm having difficulties laying out my structure ina report.
And its taking me a bit long time to get my report completed.

Please could some one help me out

:)
:!:

[Kemble3]

A well presented and concise business plan is vital to any start-up venture, especially if you seeking outside finance.

I use Business PlanPro2004 software by PaloAlto. The plans and reports they produce are very good, both technically and aesthetically. The software is easy to use, has loads of example to help you create a professional looking document. It follows a logical sequence covering topics such as company objectives, market segmentation, competition and buying patters, management summary and financial plans., including cash flows and P&Ls projections. I believe it’s a worth while and cost effective bit of software.

Hope this has been of help.

Cheers

Ian

[Rob Holmes]

Hi $ohni - Welcome.

I know our local Natwest and Barclays give away a Business Planner Software when you open an account with them. Maybe worth a try?

Rob

[Pete Williams]

So do Lloyds TSB, I used there's it is called route planner and is very user friendly.


Welcome to the forums.

[Rigs]

I know our local Natwest and Barclays give away a Business Planner Software when you open an account with them. Maybe worth a try?
Natwest actually offers it as a free download on their website, you don't need to open an account with them to do use it .. http://www.natwest.com/smallbusiness/services/index.asp?navid=SBS/ACCOUNTS_SERVICES&pid=5

[jasonj]

Try contacting your local business link or council - many have small business advisers who can help you prepare a business plan and give you advice and support. After that visit our website http://www.thecreativespring.com we will help you develop a professional image for your new company.

[$ohni]

thnx guys... hate to inform u all that ive already contacted the banks got their brochures and cd roms but they all baffled me.lolz

Ive been in contact with my local buisness venture, had meeting with them but they just waste my time by saying u should start one of the business menotring claseses worth ££'s lolzz!

i tried getting hold of the buiness pro plus software from high street but they just as worse as anyone else! lolzzz

so i just thought i'd just sit down and write one up myslef!

i think i should get hold of that software!!!!

[Cornish Steve]

Hi $ohni,

I'm going to be controversial. Be warned, however, that I have not lived in Britain for many years now so I don't know what the banks expect when it comes to entrepreneurial ventures.

In my opinion, too much emphasis is placed on a detailed business plan. For sure, you must understand all aspects of your business. You must understand your costs, you must be meeting a real need, you must know the competition, you must define a clear strategy, you must know your target market, you must know how to reach your target market, and so on. For sure, the elements of the typical business plan are very important.

Where I take issue with the process, however, is that starting a small business requires flexibility. Business plans change, often on a daily basis. On the one hand, it's important not to react on a whim or to be tossed to and fro by changing situations; you need a clear sense of direction. On the other hand, you must be flexible. Maybe, when you understand the business environment a little more clearly, you'll spot a better solution or a different strategy. Creativity is also important. Is it reasonable to update your business plan daily to keep up?

While starting my own venture (and time will prove me to be either successful or unsuccessful), I have read many books and sought advice from several experienced executives that I know. I've picked up bits and pieces from many sources and applied them all to my particular situation. I am forever learning from the experience of others.

One thing that my business partner and I did was to come up with a core purpose statement and a small set of core values. They guide us when we make important decisions, and they define what we truly want to be as a new company. It's harder than you might think to condense the essence of your business venture into a single sentence - but I found the process to be invaluable.

So, my advice is to not become a slave to business plan convention. Learn from good sources, learn from trusted friends, understand your business inside and out, plan carefully... but be flexible and creative, and know what you really want to be.

[RSL]

Good piece of advice there Goldctrsteve! :D