A lender is letting you have money now on the understanding that you will be able to repay on a regular basis in sums that include interest that will eventually pay off the loan within a given time frame. He wants to see early positive cash flows that match the terms of the loan and preferably more so. He needs to have confidence in your abilities and your commitment to success. Collateral will be required where there is a shortage of other assets. He will want to see that proven business ratios are attainable. In other words he wants to be assured that the loan will be repaid in accordance with the terms.

An investor is buying into your business idea. He will be looking for growth potential. He will want to see concrete marketing plans, sales forecasts and profitability indicators. His interest will be long term in most cases, which means having long term forecasting of financial information, 5 year or even 10 year. He will examine management resources and their commitment to a potentially large success.

So don’t assume that your business plan is a “one size fits all”. Some portions of it will, but when it comes to financing your business you need to fine-tune it to hit the target you are seeking: Investor or Lender. For this, it is a good idea to get help from the experts! That is where Business Plans Canada come in. Have a look at their website www.businessplanscanada.com to get an idea of the many ways in which they can help. It could be one of the most important, early decisions that you make!

It goes without saying that the owner/operator/entrepreneur is the key author of the business plan but that does not mean they must write every word or turn every phrase. They must be capable of articulating the key principles on which the business success depends and communicating them to others. They must be knowledgeable about all the important elements of their business that relate to operating success, start-up costs, running costs and returns. They must be able to dialogue in detail about how they will go about getting started, how long it will take, what the risks are and how they are to be mitigated. Most entrepreneurs are comfortable explaining all this to others and can talk endlessly about their “great new business idea”. But this does not mean that they can write a powerful and enlightening business plan.

There are a multitude of tools out there that offer varying degrees of professional help. There are templates galore (some as cheap as $39 !) to be filled out by someone who may or may not have any ability to write informatively. There are computer models of mind-boggling complexity that can promise sophisticated forecasts with flawless accuracy!

But pity the poor entrepreneurial sole that tries to do all this on his/her own. Get help. Find someone who can hear your ideas and study your inputs, advise you on what more is needed, take the information that you provide and turn it into meaningful, enlightening business language. Check out the website of Business Plans Canada. Here is just the help you need. A business consultant, a project manager, a financial resource and a professional writer all poised ready to work with you to produce an exceptional, solid and professional Business Plan.

Will you be approaching a lender or an investor for funding? Your business plan needs to be tailored accordingly. More to come on this topic in our next blog.

First it is a management tool that documents your business’s objectives and how they will be attained though specific time periods. This entails the type of business activity you will engage in, the uniqueness of your products and services, markets to be served, competitive advantages, management capabilities, project costs and key time frames.

Next it is written documentation of who you are, what you plan to achieve, the location of your business, when you expect to get started and how you will overcome the risks involved and provide the returns anticipated. This should provide the reader with a good insight into where you are coming from with your ideas and what makes you think you are right. Then you will need to show what numbers you have to back you up. This requires financial information properly prepared and attested to with reasonable time frames and believable assumptions arrived at.

The next question that hits you between the eyes is who should prepare this Business Plan and when do I need it? A large part of the answer to that question is addressed in a video by Business Plans Canada at their website www.businessplanscanada.com.

This means that your numbers must stand up to greater scrutiny. They must be realistic and achievable. There must be no holes of logic in your arguments. There must be no mystery in how your numbers add up to success!

As well, your business plan will have to read well, be enthusiastic, show confidence in your ideas and emit a sense of “I am going to make this happen”.

Can you do this on your own? It takes the skill of a mature financial expert combined with the viewpoint of an experienced manager in business financing who is a master story teller. Not a likely combination!

Help is out there and needed more than ever before. Check out www.businessplanscanada.com. Their website is second to none and does a great job of explaining exactly how they get the job done, what professional resources they have and what you can expect from them. Contact info and quote requests are easily found. It might be the smartest early move you make with YOUR GREAT NEW BUSINESS IDEA.

If you are planning to set up your own business and need direction, Business Plans Canada will help you meet every need and will set you on the road to success. The company specializes in the writing of detailed and compelling business plans that are designed to capture the attention of investors and help you get the funding you need.

Business Plans Canada assists small businesses and entrepreneurs. They also help established companies who want to expand their business. The team of professionals bring with them over 20 years of experience in business consulting, project management and business writing. They know exactly what investors are looking for and have all the credentials and expertise needed to get the job done right. The company will even write your business plan in as little time as ten business days.

The company has helped customers raise millions of dollars for their businesses. CEO Adrian Rudzikas and his wife Celeste have many companies to raise from $10,000 to $320 million.If you are serious about starting your own business, feel free to contact Business Plans Canada. A Business Plan Specialist can be reached by a toll free number or by email at info@businessplanscanada.com