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    Aurora Business Consultants 2017


Who needs a business plan? 

The skinny on Business Plans!

Sometimes people think  that only businesses in need of a loan or investor need a plan. That is a misunderstanding. Fact is that almost everybody who does or will operate a business needs a business plan at some point in the business life cycle. Lately, it also becomes more and more common for owners and property managers of commercial property to require prospective tenants to have a business plan. This gives them more security that the prospective tenants  are serious and are there to stay.

All in all, there are a large number of reasons why all businesses need a plan. Some of these reasons are a follows:   

  - A new business that starts from scratch!
  - A new product!
  - Expansion!
  - The intention to introduce a new product!
  - The desire to go public!
  - An intermediate review of your business? position in the market!

  - The need for a loan!
  - Merger, consolidation, or joint venture of forces!
  - Your Landlord requires it!
  - Strategic Planning!
  - You are looking for private investors!
  - Financial forecasting!
  - Every other reason!

Why do I need a business plan?

You have this great idea or this great new product or service that you would like to offer. The first thing you can think of is that you need a lot of answers to a lot of questions. This is easier said than done. What questions should I ask and where do I find the answers? How in the world am I going to find my way out of this maze? There must be a "system" to rationalize and finalize your thoughts.

Some questions that might come up are: Who am I going to sell my product or service to? How much should I charge? Where the competition is and what are they doing? What are my expenses? How many products or hours do I need to sell to survive? How do I set up my organization? Where can my business be a number of years from now? Where do I want it to be?  On the other hand, your business might need expansion or venture capital. Every loan officer or investor will ask you the same questions as you should ask yourself. Would it not be great to show that you have all the answers, before they even ask, and that you can show a timely return of investment? This is not only great for loan officers and investors, but also for you. The truth is that you invest money into your company. It is usually just a matter of where the money comes from.

Did you know that only 12% of all martial arts schools for example have or used a business plan? At the same token 67 % of all surveyed schools admits not to managing their money intelligently. Result: Martial arts schools come and go. Survival of the fittest so to speak.

What do you get?

As you know, there are many aspects in running a business i.e. selling, buying, logistics and so on. We at Aurora Business Consultants honestly belief that business plans are the cornerstone of your success. In our experience, the most efficient and cost effective way to approach your ideas would be to start with a solid business plan as a basis. Your plan would be the blueprint, if you like, for your current and future activities. A typical business plan is based on five years and has five mandatory segments: Summary, Management, Organization, Marketing, and a Financial Plan. Although the emphasis of your plan might be on Operations and the Financial Forecasting, the plan we create for you will contain either way extensive data pertaining to statistics, market segmentation, service business analysis and competition analysis.

For the statistics we use extremely reliable and accurate resources such as Dun & Bradstreet, other independent specialized research companies and trade associations and a variety of government agencies.

The financial forecasts and statements are based on the financial statement studies of the Risk Management Association. (Formerly “The Robert Morris Association”.)

Our Business Plans include a professionally printed copy of your plan, complete with a presentation binder. In addition, you also receive a CD or memory stick with an electronic version of your plan.

How much does it cost? 

Is a business plan expensive? As far as out of pocket cash is concerned, a well designed plan is probably expensive in the same way, a plumber, an electrician, your mechanic, or any other trade is expensive. If you consider the amount of time and effort needed for a well designed plan, the hourly rate is most likely a lot less than that of your trades' person or most professionals on a payroll somewhere. It is no secret that a well designed and solid business plan will increase your survival chances considerably by getting and staying ahead of the game and by avoiding costly business mistakes. Actually, it motivates you to commitment as well. You really get your dreams of the ground. How often does it happen that ideas and dreams evaporate because nobody takes the next step? Can you imagine what an investment this next step can be?

A solid business tells something about you. It tells something about how serious you are, and that you are an intelligent entrepreneur who knows that prevention is much cheaper than correction. This builds a lot of confidence for the important people in your life such as your banker or investor, your spouse and not in the least yourself. A well written and professionally looking business plan is an investment. You will get a much faster return of your business investment at a much better cost/effort/profit ratio with a business plan than without. From this point of view, a good business plan is the most cost effective thing you can do. We are a firm believer that a solid and valuable business plan should not cost you an arm and a leg. Our goal is to help businesses like yours. We believe that a business plan should be affordable for everybody.

Contact us to discuss your needs. You will be pleasantly surprised.