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The May 9, 2007 edition of Forbes magazine provided a useful checklist of
the "Ten Things Every Good Business Plan Must Have." Successful executives have a complete understanding of how the business will achieve its goals and are able to share
that message with others.
Summary
Business plans and their related financial models are important communication tools, articulating management's plan for investors, employees, lenders and other stakeholders.
Once key decisions are made then the task of designing, drafting, vetting and communicating begins.
Description
Preparing or updating the business or strategic plan and related financial
documents is an important undertaking; often impacting management's ability to successfully execute strategy. We work with
you to first understand the expected use of the package and resources available to complete the effort. Key action steps
are then determined, as well as deadlines and assignment of responsibility. Afterwards the components are assembled, vetted,
refined and prepared for printing or electronic media.
Mark Twain wrote, "It usually takes more than three weeks to prepare a good impromptu speech."
The same applies with developing a good business plan. When the plan is complete you should be able to deliver the 'elevator
pitch' with conviction born of a thorough process and supportable results. This will require plenty of team interaction, the
discipline to continually challenge major assumptions, and the fortitude to go back to the 'drawing board' when necessary.
In most cases, these creations should be working documents that change over time to reflect new information
and fluctuations in the environment. LedgerSource can help you with the initial creation and ongoing refinements, as desired.
Benefits
Plan documents are in many cases necessary precursors to securing capital
for the business, either equity or debt. As such, they are often associated with fundraising efforts, and their perceived
success or failure is determined by whether funding is obtained. That perception often obscures a more important benefit,
however. Developing these plans will tighten up your message, provide direction to your team and enhance your competitiveness.
Scope
LedgerSource's services range from simply reviewing and critiquing your
internal efforts to research and comprehensive drafting of the business plan and related financial forecasts.
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