Monday, October 11, 2010

2) Quick Tips

2) Quick Tips: ( Approximately 75 - 100 words)

Every business owner has appreciated a timely tip from someone, and has likely offered up a few great tips of their own over the years. Now it's time to collect those great suggestions and put them all into one place. Let's BLOG them! So to help us out, please identify - "WHAT" the suggestion is and a few bullet points on "HOW" it will improve results for those businesses that act on them.

Thank you to Canadian author Frances McGuckin for these great tips for business, from her National Best Selling book Business for Beginners.

GET PROFESSIONAL ADVICE: Enlist a consultant or accountant’s help in compiling the information into the correct format, and have him or her review it after both the first and final drafts. Putting it all together can be challenging. A bank would prefer to see that you have involved a professional—it helps to validate the contents.

KNOW YOUR GOALS AND OBJECTIVES: By knowing why you are preparing this plan, you can save time and effort by focussing on the important areas. Business plans often contain "filler" information that is not pertinent. Look at sample plans ... to get an idea. If you need to borrow funds, ask the lending institution exactly what is required.

COVER ALL BASES: Lenders look for sound managerial experience in the key areas of sales and marketing, accounting and technical operations. A gap in any one area will count as a strike against the business. Ensure you have covered all these bases in your plan. Competent managers are a strong indication that the business will be in good hands.

Used with permission of the author.
For more information regarding Frances McGuckin visit her Website at:

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