Business Plan FAQ
We are an existing business, why would we need a business plan?
Many existing businesses write a business plan to obtain initial funding and then put the plan in a desk drawer never to be seen again. However, the business plan is your road map for your business. The plan should be updated at least yearly to account for the changes in your business, your competition, the market environment, and new goals. The goals of your business change frequently, in order to achieve those goals you need to develop a plan to reach them. A one-page business plan is great for existing businesses that do not need to update their industry, competitors, or target market information.
Do you help start-up businesses write business plans?
Yes. I will coach you through the process of writing the plan by directing you to resources and providing accountability for you to complete each section according to the time line we establish together.
I have written the entire business plan for my new or existing business, but I am not sure where to start or how to prepare the 3-year financial projections, can you help?
Yes. I work with companies to help them prepare the financial projections and applicable Pro Forma financial statements for the business plan.
My plan is completed, what do I do now?
Now it is time to implement your ideas. I will guide you through the process. Together we will use the plan you created to help you file the applicable documents, hire employees and open your doors.
Prosperity Program FAQ:
What are performance measures and why do I need to measure them?
Performance measures are standards or goals that inform you how your business is doing. Performance measures can include simple ratios such as days in inventory, or the measure can be more advanced, such as profitability by customer. You need to know how your business is performing in order to make good business decisions.
We have a CPA/bookkeeper prepare our financial statements on a regular basis, do we need anything else?
Financial statements should be prepared on a regular basis, preferably monthly. Many business owners are intimidated by accounting or reading their financial statements. They have yet to get comfortable with the information provided in these documents. Yet the information available can help you make good instead of bad business decisions. The Statement of Cash Flows provides information on the cash available, but the Income Statement and Balance Sheet tell the users what is really happening in the daily operations so that decisions can be made quickly! I teach you how to read your financial statements so that you can implement changes immediately, not 3 or 6 months later.
Are you a CPA firm that offers bookkeeping and tax preparation?
No. I have a large network of quality CPAs that I work with and recommend.
Are you a rent-a-CFO?
No. You run the day-to-day operations. My goal is to teach you how to utilize the information in your financial statements so that you can make good business decisions quicker.
What differentiates you from other business advisors?
The difference is personal touch. I learn about you, your business, and your overall goals. You and I will focus on the strategic components of your business. I will hold you accountable for achieving the goals you set in the completed business plan. I’ll make sure you stay on course.