Tuesday, September 19, 2006

Coaching with a Business Incubator

The purpose of the Business Incubator is to start successful businesses.

The initial review process is designed to streamline the business launch process.

Students prepare initial outlines explaining the business opportunity, products or services, existing competitors or unserviced niches, licenses, registrations, incorporation, marketing research, pricing, margins, operations, logistics, import/export, wholesale/distributors/retailers, initial cash requirements, potential sources of financing, cash flow projections and time lines which include a detailed implementation plan.

Business executive mentors, experts and coaches will review the initial outlines.

The project incubation process is structured with primary market research, market analysis, operating and financial planning overlaid with project benchmarks that must be achieved.

Mentoring and instructional support includes experienced businessmen, early-stage legal, accounting, and administration services, technical experts with shipping, logistics, engineering, packaging, advertising, sales training and business coaching.

So -- What is a Business Plan?

A business plan means different things to different people.

Many people see a business plan as the written document necessary to apply for a bank loan.

Many people see a business plan as a projection that enables a business to look ahead and prepare for problems and opportunities.

Many people see a business plan as the outline to allocate resources and focus on key points.

Many people see a business plan as a guide vital for running the business.

Many people see a business plan as a formula to optimize growth and development according to set priorities and end goals.

Many people think a business plan should outline five things: the planning process, the necessary resources, time lines, definitive business goals and the path you will follow to achieve these goals.

Many people think a business plan is simply a summary of who you are, what you plan to do, where the plan operates, how you intend to complete the plan and why you will succeed.

There is no Standard for Business Plans

Many people think a business plan should contain main Business Plan components:
Executive Summary
Management Team
Company Description
Product or Service Description
Market Research
Marketing Strategy
Implementation Schedule

Successful people think a business plan is a very important story with several audiences. Everyone who works for your company, everyone who lends money or provides credit to your company and everyone who buys your products or services. We can help you write that story.

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