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Business Research Strategies - The Business Plan


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Description of Business Research Strategies (BRS) and their offerings.

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Business Research Strategies - The Business Plan

  1. 1. Business Research Strategies<br />Information is the key to good decision making<br />Opal Berry – Owner and Founder<br />
  2. 2. Who we are and what we do<br />Business Research Strategies is a business start-up consultancy. We help new business owners build and execute strategic plans for their businesses.<br />
  3. 3. About Me<br />I grew up in Detroit. Home of the auto industry and . . . <br />Boblo Boat<br />Hudson’s<br />Tiger Stadium<br />
  4. 4. Bachelor’s from Michigan State University<br />
  5. 5. My Handsome Son<br />Alan<br />
  6. 6. My Background<br />I have a vast background in business, marketing and management. My experience covers virtually every aspect of business and marketing from both the corporate and entrepreneurial perspectives. I also have a Bachelor’s degree in Marketing from Michigan State University. My business experience includes:<br /> <br />Jacobson’s Dept Stores; Michigan, Ohio, Florida – Gift buyer, Bedding buyer <br /> <br />AT&T - Marketing representative handling major advertising agencies.<br /> <br />McDonald’s Owner Operator- Day to day operations including floor management, quality control, scheduling, P&L management, budget forecasting and management, payroll. <br /> <br />Corporate Restaurant General Manager; Au Bon Pain, Burger King Corp, Hardee’s - Same functions as above. My specialty was cash control.<br /> <br />Dayton’s, Target, Macy’s – Marketing analysis, advertising planning, budget forecasting, expense/income tracking and analysis, tracking and analysis process development. <br /> <br />Inroads Internship Program - Thirteen years of volunteer training development and facilitation for this national college level corporate internship program.<br />
  7. 7. The Business Plan<br />What is a business plan?<br />A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. Its basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make the right decisions. As it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is also a crucial part of any loan package. <br />
  8. 8. Most Common Reasons New Businesses Fail <br /><ul><li> Lack of experience
  9. 9. Wrong business chosen
  10. 10. Insufficient capital – no operating capital
  11. 11. Poor record-keeping
  12. 12. Poor location
  13. 13. Over-investment in fixed assets
  14. 14. Not cut out for entrepreneurship</li></li></ul><li><ul><li> Building your business is like building a house. You wouldn’t start building a house without a blueprint. Don’t start building your business without a plan.
  15. 15. Most business owners don’t plan to fail. They fail to plan.
  16. 16. 50% of all small businesses fail within the first 5 years.</li></li></ul><li>Important Questions to answer before starting any new business<br />Who is your customer?<br />Where is your customer?<br />How will you reach your potential customers to market your product or service?<br />Who and where are your competition?<br />How will you differentiate yourself from them? What weakness do they have that you can capitalize on?<br />What will you do better than anyone else?<br />What will your start-up costs be?<br />Do you know what to expect financially? Do you have financial projections?<br />Are there special licenses and permits required?<br />Do you have a location in mind? Do you have a site analysis ? Crime statistics?<br />What kinds of insurance and/or bonding are required?<br />
  17. 17. BRS Service Offerings<br /><ul><li> Business Plan writing
  18. 18. Business Plan analysis
  19. 19. Business Plan assistance
  20. 20. Viability Studies
  21. 21. Competitive viability
  22. 22. Market research
  23. 23. Balance sheets/income statements/cash flow analyses
  24. 24. Strategic planningand research
  25. 25. Information system selection
  26. 26. Resource research
  27. 27. Office set-up</li></li></ul><li>Referrals<br />What is a good referral?<br /><ul><li> Someone who wants a business plan written
  28. 28. Someone who is ready to start their business
  29. 29. The business is already running and they need help with a strategic plan, marketing plan or a viability study.</li></ul>Where do good referrals come from?<br /><ul><li>Attorneys
  30. 30. Accountants
  31. 31. Financial advisors
  32. 32. Commercial realtors
  33. 33. Friends, family, ANYONE</li>