A 5 Part Series on Business Plans: Part 4- The Financial Plan

Note: This portion of the business plan should not be completed until the organizational and marketing plans have been completed. The financial plan is the analysis of measurable figures for a business plan.  The organzational and marketing plans are put together and from this we calculate the projected financing Ã‚ costs. The following two pieces of information need to be included only if you …

A 5 Part Series on Business Plans: Part 3- A Marketing Plan

An effective marketing plan will address the details of sales, advertising, PR campaigns, and market analysis.  Keep in mind that a plan in this technology age should include online strategies as well as  traditional strategies. Who will be responsible for your in-house marketing, and who will you use for outsourced marketing campaigns? Identify your target market and competition, along with trends in …

A 5 Part Series on Business Plans: Part 2- The Organizational Plan

We have previously discussed the importance of every business having a good business plan. This plan is of particular importance if you, the business owner, are looking for any type of financing and/or investors.  The focus of the last blog was the summary and what information to include in the summary.  Today we will focus on the second part of your …

A 5 Part Series on Business Plans: Part I- The Summary

I want you to try and remember back to your days in junior high, high school and, if you attended, college. One of the things you probably dreaded most was a research paper. Do you remember doing all the reading and researching?  Writing and corrections?  The outline? In my last blog, we discussed the importance of having a business plan and business goals. For the …

Bad Debts and Accounts Receivable

Two things happen when you, a seller, offer credit to your vendors or customers: you raise your potential to increase revenue or you increase your chances for potential loss.  By extending credit, your buyers will appreciate the convenience, as well as the ability to pay the debt at a later date.  On the flip side of this appreciation, is that some of your customers may not pay …

Are You a Do-It-Yourself Accountant?

Hopefully, you had a chance to think about the information I posted last week. If you have are doing your own business bookkeeping and you don’t have an accounting degree, perhaps you realize that you’ve bitten off more than you can chew. Clients frequently tell us they thought they could figure out how to do their own bookkeeping.  Their goal is …