Business Plans for Dummies 2ND Edition

Would you take off on a road trip to a new destination without a map or good directions? Probably not. Yet, sometimes business owners go full speed ahead without even having a destination in mind, much less a map on how to get there. That’s why so many businesses never make it. In today’s competitive marketplace, 3/4 of all new businesses fail within two to three years. Whether you’re launching a new business or working to strengthen or expand an established one, a business plan is your road map to success.

Business Plans For Dummies, 2^nd Edition helps you keep your businesses on track and reach your goals. Written by Paul Tiffany, PhD, professor at UC Berkley Haas Business School and the Wharton School of Business and Steven Peterson, PhD, Professor at UC Berkeley Haas Business School and CEO of Strategic Play, it helps you

• Realistically determine where your business is and where you want to go
• Create a detailed business plan and put it into action instead of in a drawer
• Use the plan to secure financing
• Prepare for opportunities avoid common pitfalls

In short, Business Plans for Dummies helps you determine where you want your business to go and create a map for getting there. You’ll discover how to:

• Identify and approach potential financial backers, including venture capital firms, angels, bankers, and others
• Clarify and crystallize your company’s mission, vision, and values
• Analyze your industry and your competition
• Identify your customers, including their needs, habits, purchase triggers, and decision-making processes
• Objectively analyze your company’s strengths and weaknesses
• Analyze your financial situation in order to do realistic forecasts and budgets
• Recognize trends and anticipate changes, both in the overall economy and in your industry
• Plan for growth, considering the product life cycle, new products, or new markets
• Structure your organization and nurture leadership

Complete with diverse techniques and approaches plus a sample business plan, Business Plans For Dummies gives you detailed how-to for designing a dynamic, business plan that will keep you on course in spite of the inevitable curves and detours in today’s marketplace. It’s a plantastic resource for business owners and entrepreneurs.

Create a winning business plan with expert tips and strategies

Covers planning basics, financing, marketing, legal issues, and more

Creating a great business plan is the first and most vital step to business success. Business Plans For Dummies, 2nd Edition, walks you through each step of the planning process.

Discover how to:

• Assess your company's goals and objectives
• Create a clear, precise mission statement
• Identify customers and understand their needs
• Differentiate your business from the competition
• Understand budgeting and finances

Whether your company is a one-man operation or a large corporation, creating a great business plan is the first and most vital step to true business success. In fact, a clear, precise, and well-research business plan can be the big difference between finding funds and investors for your venture, or falling flat on your face.

Thankfully, Business Plans For Dummies, 2nd Edition guides wannabe entrepreneurs in the right direction. Updated and revised for today’ s businesses, this friendly guide covers every step of business plan creation, from doing the initial market research, to crunching the numbers, to preparing for the competition, including: Pinpointing company goals and objectives Creating a clear, simple mission statement Identifying customers and understanding their needs Differentiating your business from the competition Understanding budgeting and finances

Professor of Management Paul Tiffany and successful executive Steven Peterson offer the latest tips and advice to help you launch your venture with confidence. With quick, easy, and sensible solutions for all your planning dilemmas — no matter how complex your business plan is — this handy guide covers it all: Why the business plan is vital Charting a proper course for the business Understanding markets and business environments Knowing customers and competition Forecasting and budgeting Thinking strategically Managing change and business growth Putting the business plan into action What you should never put in your business plan

Millions of Americans dream of starting their own businesses, but they often don’ t realize that the most important step in the process is the first step: gettingthe business plan right. A bad business plan can cripple a good business idea. Business Plans For Dummies, 2nd Edition, presents all the straightforward advice and technical know-how entrepreneurs need to get it right the first time.

Paul Tiffany, PhD, is a professor of management at the Haas Business School, UC Berkeley, and an Adjunct Professor at the Wharton School, University of Pennsylvania. Steven Peterson, PhD, is the founder and CEO of Strategic Play and an Executive Education Lecturer at the Haas Business School.

Introduction.

Part I: Knowing Where You Want to Go.

Chapter 1: Preparing to Do a Business Plan.

Chapter 2: Understanding the Importance of a Business Plan.

Chapter 3: Setting Off in the Right Direction.

Chapter 4: Charting the Proper Course.

Part II: Describing Your Marketplace.

Chapter 5: Examining the Business Environment.

Chapter 6: Slicing and Dicing Markets.

Chapter 7: Getting Better Acquainted With Customers.

Chapter 8: Checking Out Your Competition.

Part III: Weighing Your Company’s Prospects.

Chapter 9: Assessing Where You Stand Today.

Chapter 10: Making Money Doing What You Do Best.

Chapter 11: Figuring Out the Financial Details.

Chapter 12: Forecasting and Budgeting.

Part IV: Looking to the Future.

Chapter 13: Managing Uncertainty.

Chapter 14: Thinking Strategically.

Chapter 15: Growing Up and Growing Bigger.

Part V: Putting Your Business Plan into Action.

Chapter 16: Shaping Your Organization.

Chapter 17: Leading the Way.

Part VI: The Part of Tens.

Chapter 18: Ten Signs That Your Business Plan Needs Refreshing.

Chapter 19: Ten Questions to Ask about Your Plan.

Chapter 20: Ten Business-Planning Never-Evers.

Appendix: A Sample Business Plan.

Index.