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Business Plans For Small Business – 3 Compelling Reasons Why You Must Have One

Business plans for small business people is an interesting phenomenon. Most business owners know they should have one but various research indicates only about 56% of small business enterprises has a current one. This article discusses 3 compelling reasons why you should have one if business success is your prime motivation, which is must be for all of us with our own business.

Read on to uncover the myths of business planning and the easy solutions to create one.

MYTH NUMBER 1: Business Plans for Small Business People Seem Difficult to Construct

After personally completing over 146 business plans for many companies big and small, I have seen the difference it can make in a switched on organization. The most effective plans are those that only take about a day to fully construct. Any more than this the plan is likely to be too long, too complex and harder to implement.

So would you take one day a year or even each quarter to construct a relevant specific plan that will provide motivation to you and your team, strategic direction on what you need to implement, and to give you a much higher percentage chance of attaining business success?

Now there are some great resources and tools on the market that makes creating a new plan such an easy way to go. These are neither expensive nor time consuming so really there is no excuse for not doing one.

MYTH NUMBER 2: Business Plans Implementation is often neglected

Business plans for small business are easy to implement if you look at the following structure. The best way to implement your new plan is to complete a yearly one of only 5-12 pages depending on the complexity of your small business.

Then create a quarterly 90 day plan which is only 2 pages long every quarter. This makes planning a breeze.

The longer yearly plan sets the goals and gives more detail but the shorter plan is just as powerful as it is the action plan needed for implementation.

The best results in implementing strategy is when you look at your 90 day plan of action each week and put time aside of about 3 hours a week to plan and take action.

This means you have a yearly focus broken down to quarters but implementation is done weekly. A sure fire rapid way to achieve maximum business success.

MYTH NUMBER 3: To Start Planning Seems Difficult

Planning is essential for success. Even the statistics shows over 70% of businesses that succeed over a 5 year period have a written plan. Conversely the 80% plus statistic of business failure shows a very low percentage of people in this category have a written plan.

Bottom line: You are absolutely more likely to succeed if you have a current written plan or you are more likely to fail if you have not.

To start planning just look for a business planning template online and get started. These days a better option is to purchase for a very small fee planning software that even has what others in your industry have completed before you. This makes it extremely easy to plan successfully as you use the example for a guideline and change it to suit your individual circumstances.

Business plans for small business are easy to implement if you use the right tools, cheap to construct and a vital skill for you to reach the heights of success you deserve. If the fruits of your labour are currently now what you desire, then I commend you for completing a powerful business plan of action so you can rightly reap the rewards of all of your hard work.

Business Loans For Small Business Owners

If you watched the third and final presidential debate, you are sure to have heard the candidates discuss the issues of small business and small business owners. You listened attentively as Obama spoke about his tax plan that would cut taxes for people making less than $250,000 a year, making it easier for those people to get to the position where they are able to buy and own small businesses. And you took note as

McCain spoke about his tax plan, that caters to those who have already succeeded as small business owners and would “give the largest cuts to the very wealthy,” as stated in a recent Washington Post article.

Regardless of whose plan you agree with, the fact remains: Small business owners can greatly benefit from business loans, and even in the current state of the economy, there are ways for small business owners to find sufficient business financing. One of these existing methods of business financing is a business cash advance.

The business cash advance is often viewed as a business loan alternative; typically because business owners who find themselves facing bank business loan denials are often able to acquire the funds they need through a business cash advance, due to the easy-to-meet requirements.

Applicants who have owned a business for a minimum of four months, have no unresolved bankruptcies, at least one year remaining on their business’s lease, and process at least $2,500 per month in credit card sales, can receive a business cash advance of up to 30 percent more than their business’s average monthly credit card sales.

The business cash advance can be used at the borrower’s discretion, with no restrictions. Therefore, instead of preparing a proposal and presentation, hoping your loan request will not be denied due to your inability to persuade the lender, you will simply be required to provide the four most recent months of your business’s credit card statements. Based on those numbers, business cash advance lenders will determine how much you qualify for, your total payback amount, and the percentage of your business’s future credit card sales that will go toward your business cash advance repayment.

The structure and availability of business cash advances make the possibility of business financing a reality for small business owners across the United States. So whether the newly famous “Joe the Plumber,” that we’ve all gotten to know so well, buys a business that makes over $250,000 a year and sees a tax increase, or a tax decrease, he can rest assured that if he needs fast funds for his business (and that business processes credit card sales), he can get a business cash advance, and have money funded into the account of his choice in as little as ten business days.

Home Based Business – Home Business Or Business That Survives Any Economy

Home business is one of the growing segments in today’s economy. The term home business, home based business has been searched well over 1,800,000,000 times on Google in the last thirty days. Why are people looking to start a home business or any business in this economy. The reason is simple. More and more people are realizing that they are better off working for themselves, being in control of their life than giving the control of their life to their boss and creating wealth and a financial stability around their families is possible only when they work for themselves. Home business is the best way to have quality and quantity life.

When you start searching for that extra income to support your family be clear as to if you just want a job or business? If you choose business do you want traditional business or a home business? The difference between a traditional business and home business are as follows.

Traditional business have a lot of start up cost say anywhere from $50,000 to well over a million. Whereas a home business could cost anywhere from $50 to $30,000. The time on return for investment in a traditional business is about five years whereas in home business it varies from couple of months to a year. Traditional business will require overhead, other additional expenses such rent, employees, marketing etc., whereas a home business requires just marketing expense which can vary from couple of hundred dollars to probably $1000 per month. If you are spending $1000 in marketing for your current home business you are spending way too much. You are basically buying yourself a job with traditional business where you loose your time freedom. One can never put a price on time with your family and kids. With a home based business yes you work from home but you have an added advantage of reducing your overhead, making money and spending time with your family on your terms. Personal development is a must if you are looking to start any business and be successful in it. Personal Development industry is economy proof as more businesses and people turn to it for bringing about success and positive change in a bad or a good economy.

So by far if you are looking to creating wealth and financial stability home business is the way to go and pay yourself what you are really worth rather than getting paid .001% of the profit your employer is making by having you as an employee. Why don’t you pay yourself what you are worth and build a wall of financial stability around your family.