Saturday, May 05, 2012

Your Business Tips ...


Every now and again I enjoy hearing from others and learning from some of the great business tips that they are willing to share with others.

If you've come across one of those great suggestions, why not share those 'pearls of wisdom' with others! Simply add a comment to this BLOG post and let's see how many we can assemble. 

If you need a little priming to get started, here are a few tips from my friend, Frances McGuckin 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: http://www.smallbizpro.com/

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