Strategic Importance of Business Plans in Today’s Technological Driven Marketplace

As the pace of competition has accelerated, product life cycles have shrunk.

It used to take 8 to 10 years to design and build a car.

Now it can be in less than a year and half.

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Ten Things To Consider When Writing a Business Plan

Starting a business is a major commitment that will consume 24/7 of your life with no end in sight. It is always good to know what you are getting into before you take the plunge. From my experience writing business plans for large and small companies alike for the last 8 years, there are basically two reasons why you need a business plan – the first reason is to re-assure yourself that this wild dream that you have in your mind is actually attainable. And, the second reason is to convince a lender or a venture capitalist. More than likely, you are writing for the second reason. Whatever your reason may be, as the legendary management guru Peter Drucker would bluntly put – always ask yourself what your business is, who your customers are, and what the customer considers value.

In my opinion, here is a list of pointers that will save you headaches later.

a. Be clear about what you are selling.

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The Goals of a Restaurant Business Plan

The goals of your restaurant business plan are not just to crank out twenty five to fifty pages of useless writing that won’t help you get funded although that seems to be what most people do. The real plan doesn’t have to be long at all but it does need to answer some basic questions and demonstrate a capacity for success in your restaurant venture.

This guide is designed for anyone who has an interest in getting started their own restaurant or bar enterprise. This range includes somebody with substantial industry knowledge who may have previously worked as a supervisor or cook to somebody who has simply no experience in either food service or bars but yet has always had the dream of being the owner of their own establishment.

This information is also useful to those who some funds to invest although not enough as well as to people which don’t possess a single cent to invest on their own but do have the prerequisite aspiration and drive to see the process right through to the finish.

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