Tap these treasures of ideas. The best money you can spend
is money invested in your business plan education. Don't
shortchange yourself when it comes to investing in your
dream. Start gathering samples of business plans and collect
business plan books and get a business plan library started,
it can change your future. Here's what your library needs to
show: that you're a serious student of business strategy and
planning, finance and economics, selling, and writing.
is money invested in your business plan education. Don't
shortchange yourself when it comes to investing in your
dream. Start gathering samples of business plans and collect
business plan books and get a business plan library started,
it can change your future. Here's what your library needs to
show: that you're a serious student of business strategy and
planning, finance and economics, selling, and writing.
Sample Business Plans
Start by gathering sample business plans. Look at the annual
reports and S-1s, S-4s, 10ks, or 10Qs filed with the
Securities and Exchange Commission (SEC) of companies in
your industry. See how they present their case, explain
their business, and discuss their industry and competition.
reports and S-1s, S-4s, 10ks, or 10Qs filed with the
Securities and Exchange Commission (SEC) of companies in
your industry. See how they present their case, explain
their business, and discuss their industry and competition.
What exactly are these forms and how do you get them? Good
question.
question.
These are forms that public companies must file with the SEC
in order to register their securities or to maintain the registration
of previously registered securities with the SEC. You can find
these forms by going to http://www.sec.gov, clicking on the Edgar
database, and searching for a public company in your industry.
in order to register their securities or to maintain the registration
of previously registered securities with the SEC. You can find
these forms by going to http://www.sec.gov, clicking on the Edgar
database, and searching for a public company in your industry.
The key is to find the most helpful filings. These are the ones
labeled S-1, S-4, 10K, and 10Q. They usually contain
descriptions of the business, its products, industry, competitors
and strategies. Sections that should sound familiar to you if you
are planning to write a business plan.
labeled S-1, S-4, 10K, and 10Q. They usually contain
descriptions of the business, its products, industry, competitors
and strategies. Sections that should sound familiar to you if you
are planning to write a business plan.
Go to these sections and read how the company presents their
business and its products. Look at how they describe the industry
and their competitors. I encourage you to read as many filings in
your industry as possible. See what the "big guys" are saying, the
issues, challenges, and trends they see in the industry and how
they're attacking them.
business and its products. Look at how they describe the industry
and their competitors. I encourage you to read as many filings in
your industry as possible. See what the "big guys" are saying, the
issues, challenges, and trends they see in the industry and how
they're attacking them.
Be careful though about mimicking what they write. Many of these
documents are written in legalese despite the SEC's protestations
and push for plain English. Just remember, you're doing this
exercise to see how other companies have built their case to
business investors.
documents are written in legalese despite the SEC's protestations
and push for plain English. Just remember, you're doing this
exercise to see how other companies have built their case to
business investors.
Another approach is to gather and read professionally
written business plans of companies in your industry and use
them as guides to prepare your plan. Try to avoid generic
business plan templates. They're too general and often not
worth the investment. Either way. Start filling your
business plan library with business plans and registration
statements. Keep them close by and refer to them often as
you write your business plan.
written business plans of companies in your industry and use
them as guides to prepare your plan. Try to avoid generic
business plan templates. They're too general and often not
worth the investment. Either way. Start filling your
business plan library with business plans and registration
statements. Keep them close by and refer to them often as
you write your business plan.
Strategy
Now, here's a good book to start your business plan library
with. It's called: Competitive Strategy by Michael Porter.
In this landmark book, Competitive Strategy, Porter shows
you how to identify the forces that drive competition in
your industry. Learn what moves your competitors are likely
to make within it. Competitive Strategy provides a framework
for evaluating the competitive alternatives you must
consider and for thinking about how to change the rules of
the marketplace in your favor. Competitive Strategy is the
bible venture capitalist, investment bankers, and business
development executives use when analyzing an industry or
business venture. I use this book as the centerpiece of my
business plan library. So I'm just asking you to take a look
at Competitive Strategy by Michael Porter. If it suits you
fine, if it doesn't suit you, keep looking till you find
something that helps you understand strategy.
with. It's called: Competitive Strategy by Michael Porter.
In this landmark book, Competitive Strategy, Porter shows
you how to identify the forces that drive competition in
your industry. Learn what moves your competitors are likely
to make within it. Competitive Strategy provides a framework
for evaluating the competitive alternatives you must
consider and for thinking about how to change the rules of
the marketplace in your favor. Competitive Strategy is the
bible venture capitalist, investment bankers, and business
development executives use when analyzing an industry or
business venture. I use this book as the centerpiece of my
business plan library. So I'm just asking you to take a look
at Competitive Strategy by Michael Porter. If it suits you
fine, if it doesn't suit you, keep looking till you find
something that helps you understand strategy.
Opening your mind to strategic alternatives is a creative
process. You can never have too many books on strategy in
your business plan library. Read as much as you can to learn
why some companies can sell their products more cheaply than
others. Why others provide the best products...products that
are just far superior to their competition. And, why some
companies just always seem to provide unmatched service.
process. You can never have too many books on strategy in
your business plan library. Read as much as you can to learn
why some companies can sell their products more cheaply than
others. Why others provide the best products...products that
are just far superior to their competition. And, why some
companies just always seem to provide unmatched service.
Fill your business plan library with business books that
inspire, challenge and answer these questions. Read. Read.
Read. And, study too. Find out how some companies are
reinventing competition in their markets and obtaining
funding while others are seemingly oblivious to the changing
world around them.
inspire, challenge and answer these questions. Read. Read.
Read. And, study too. Find out how some companies are
reinventing competition in their markets and obtaining
funding while others are seemingly oblivious to the changing
world around them.
Michael Treacy and Fred Wiersema set out to find answers to
these types of questions in their book The Discipline of
Market Leaders. Although the authors won't appreciate this
comment, I found the underlying fundamentals in The
Discipline of Market Leaders to closely parallel those laid
out by Porter in Competitive Strategy. Perhaps that's why I
like it so much. The difference, however, is that they
present their material in a less academic, more engaging
way. And, they provide excellent case studies that are sure
to generate many aha's! The Discipline of Market Leaders
will make you think about what it is your company or new
venture does better than anyone else; what unique value do
you provide to your customers? How will you continually
increase that value? If you can't easily answer these
questions about your business, The Discipline of Market
Leaders is required reading and a must for your business
plan library. The business owners and entrepreneurs that can
answer these questions are not only raising the value bar in
their industries, they're raising capital for their
businesses!
these types of questions in their book The Discipline of
Market Leaders. Although the authors won't appreciate this
comment, I found the underlying fundamentals in The
Discipline of Market Leaders to closely parallel those laid
out by Porter in Competitive Strategy. Perhaps that's why I
like it so much. The difference, however, is that they
present their material in a less academic, more engaging
way. And, they provide excellent case studies that are sure
to generate many aha's! The Discipline of Market Leaders
will make you think about what it is your company or new
venture does better than anyone else; what unique value do
you provide to your customers? How will you continually
increase that value? If you can't easily answer these
questions about your business, The Discipline of Market
Leaders is required reading and a must for your business
plan library. The business owners and entrepreneurs that can
answer these questions are not only raising the value bar in
their industries, they're raising capital for their
businesses!
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