Product Description: In today's competitive business environment, a well thought out business plan is more important than ever before. Not only can it assist you in raising the money needed to start or expand a business-by attracting the interest of potential investors-but it can also help you keep tabs on your progress once the business is up and running.
Completely revised and updated to reflect today's dynamic business environment, The Ernst & Young Business Plan Guide, Third Edition leads you carefully through every aspect involved in researching, writing, and presenting a winning business plan. Illustrating each step of this process with realistic examples, this book goes far beyond simply discussing what a business plan is. It explains why certain information is required, how it may best be presented, and what you should be aware of as both a preparer and reviewer of such a proposal.
Divided into three comprehensive parts, The Ernst & Young Business Plan Guide, Third Edition outlines the essential elements of this discipline in a straightforward and accessible manner. Whether you're considering starting, expanding, or acquiring a business, the information found within these pages will enhance your chances of success.
* Advice on how to write and develop business plans *
A realistic sample plan *
All new sections on funding and financing methodswith provisions for restructuring and bankruptcy *
So you need investors and need to write a business plan... I did, so I bought five books. I will review them from worst to best.
"Finding an Angel Investor In a Day," by The Planning Shop (2007), told me nothing I didn't know, and I didn't know anything about business plans or angel investors. The title is ludicrous and the advice is obvious, e.g., "Your business plan should be concise, compelling, and irresistible to investors." 1 star.
"The ABC's of Writing Winning Business Plans," by Garrett Sutton (2005), walks you through writing business plans for a lawn mowing business and buying a pizza restaurant. If your business is more complicated, this is not the book for you. 1 star.
"The Ernst & Young Business Plan Guide," by Brian Ford, Jay Boorstein, and Patrick Pruitt (2007), is a good book but hardly inspiring or insightful. If you follow this book your business plan will be competent but won't grab investors. 3 stars.
"Angel Financing for Entrepreneurs," by Susan Preston (2007). This book doesn't explain how to write a business plan, but it explains how to make a 10-minute PowerPoint presentation to investors -- a presentation that will grab investors. For example, one question is "How is your product or technology scalable?" I also learned some of the financials that angel investors look for, such as what IRR is expected. This book helped and inspired me to write an excellent presentation, that became the basis for my business plan. 5 stars.
"Raising Venture Capital for the Serious Entrepreneur," by Dermot Berkery (2008). This is a textbook for a business school course about venture capital. This book is full of insights. Every few pages new ideas would compel me to go to my computer and add stuff or rewrite my business plan, for example, Berkery emphasizes the need for clear milestones. Preston mentioned milestones but didn't make it clear why they are so important. The financials that were briefly presented in Preston's book are thoroughly presented in Berkery's book, for example, what gross margin investors look for (80% or more) and why they need such extremely profitable products or services. Plus you learn the jargon or key phrases of venture capitalists, e.g., "a large but well signaled market," the importance of "market power" and an effective "route to customers." I feel that my business plan now speaks to investors in their language, with the numbers they are looking for. 5 stars.
Excellent book for both Entrepreneurs and Investors This book on Business Plan is a very good reference to both; the entrepreneur, who wants to start a business and for the investors. It helps both the parties; the entrepreneur - how to draft a convincing business plan to convince the investors for funding (if required) and to the investor - what to expect and what to assert on, if they were to fund this venture.
The book is useful for a startup, middle sized company and a large sized company and gives an idea how to organize each section to grow the organization. It describes how the Business Plan can be used every year, even for a growth with calculated risks. It describes how the Risks are highlighted to put the policies and decisions to either avoid, accept or mitigate those risks. The language in the book is very lucid. Some sections may have some extra text which make it a little long reading.
No canned plan here. One of the biggest mistakes that business owners make in preparing business plans is producing a "canned" finished product that diminishes their credibility. This book will go a long way to help you sidestep this pitfall. The text gives you a context for your plan; that is, it discusses what the end user is looking for. It is general enough to cover most agendas and specific enough to provide practical advice. Even though this book was published nearly 15 years ago it is not dated by changes in technology. It sticks to the time-honored basics. I have reviewed many texts and templates in my consulting practice, and this is the best guide that I've seen.
Great BP Book This is a great book. Simple to the point advice about developing a business plan.
This book is my bible This book says it all very concisely, no fluff. I've written three business plans with it. Read a chapter in the book, write a chapter of the plan. The examples are very good. I just hit $1MM in sales on my third try - I give this book a lot of credit for helping me get organized.
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