“Seed Money Using a Lean Business Plan” 

Small Business Online Coach



"What would happen if you found seed money to pump into your new business?" You'd jump at it, wouldn't you? If you have a few minutes, I'm about to tell you how to get it.

Most small businesses start up without thinking about how much money they will need before they start. Most startups already know they need the money. They admit when they don't specify goals for their business. They also realize it's a missed opportunity.

That's where a Business Plan can brighten your day. It will show you step-by-step what you'll need to grow your business. You could also call it a feasibility plan. It includes a marketing plan for your business.

As you begin to write it, it will make you think. It will help you prioritize. If you like to think forward, you could gain from working with a small business online coach.

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Every bank that gets ready to lend you money for your business will ask for a Business Plan. They want to know why they should invest in your business. And how they can be sure they'll recover their investment. A thorough plan has 3 major parts.

1) Your specific goals in the business

2) Your business idea and reasons why it will produce results

3) Your forecasts for profit and income (financial projections)

When you write your lean business plan, you'll have a chance to discover your industry trends. Your market and competitors could change. You'll find ways to manage your cash flow, which is vital for business survival.

Markets shift over time. For example, people who shopped at stores now buy online. That calls for a different seller strategy. Your Business Plan could show how you would manage this change, if you were in that segment.

Your competitors change also. Office Depot found that Walmart started selling office goods. That was new. Walmart filled their aisles with stationery, printers and paper. They rapidly became a direct competitor to Office Depot.

List your competitors in your plan. Check the direct and indirect ones. That will keep your plan practical.

Online platforms such as YouTube offer free education today. You now have to think hard if you should spend on Universities. You avoid travel, food and living costs. That's another example of drastic change in the market.

Writing your plan will help you think about such developments in your industry.

Finally, most business owners know that writing a Business Plan is not a one-time task.

You will need one when your industry changes. If you have employees, you could get their view. That will help you realize areas of the plan you may have overlooked.

If you need help writing a business plan, work with a small business advisor. Or, find a small business online coach. That's even better. You'll recover what you paid quicker than you think.

Want even faster results? Are you ready to discover how? Schedule your Explosive Business Results session now.

Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston


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