Final Sandwich being served is - Preparation and guidance for building a sound profession.
So you want to open a business. Let's say you would like to open a restaurant. Well the first and most important plan of action before you do anything else is prayer! If your plan is not in line with God's plan, then your business will fail ~ no matter what you do!
Once you know in your heart God is giving you His blessings, you want to prepare a business plan. I will briefly outline a basic business plan; whereas, there will be more or less information that will need to be included, depending on the restaurant.
1. Executive Summary - This will actually be like a conclusion that will be a summary of what your plan is and how you will carry it out.
2. Company Summary - You will describe (in detail) who you are and what you do. For example: The state your company will be established in, the owner and operator, the date you opened, and statistics of sales and how you have grown from the beginning and how you intend to increase the business.
3. Products and Services - This will be where you list your service/product you are offering.
4. Market Analysis Summary - Explain the type of business you are opening and how you will target the customers you want to serve. You will need to know your competition and what you will offer different from them that will make you stand out.
5. Strategy and Implementation Summary - This is a two section summary. The first section will be your strategy. What do you do better than the competition and describe how you will attract your customers (flyers, advertisement, word of mouth, networking, social media, etc.)
The second part will detail your strategy to maintain a business that will keep customers coming back. In addition, detail the responsibilities of management along with dates and budgets you can monitor to compare and contrast your busiest days and your slowest days.
6. Management Summary - You will detail the important members who will run the business and include a resume of their history in that area, so it will give the financial advisers a peace of mind to know you have qualified and quality employees for the business to succeed.
7. Financial Plan - This is the most lengthy part of your business plan because it will include profit and loss statements, projected financial statements of the next 3 to 5 years of business, and cash flow tables
Again this is a basic business plan that only briefly describes the information needed so once it's on paper, you will know (in theory) if you will be successful.
So you want to open a business. Let's say you would like to open a restaurant. Well the first and most important plan of action before you do anything else is prayer! If your plan is not in line with God's plan, then your business will fail ~ no matter what you do!
1. Executive Summary - This will actually be like a conclusion that will be a summary of what your plan is and how you will carry it out.
2. Company Summary - You will describe (in detail) who you are and what you do. For example: The state your company will be established in, the owner and operator, the date you opened, and statistics of sales and how you have grown from the beginning and how you intend to increase the business.
3. Products and Services - This will be where you list your service/product you are offering.
5. Strategy and Implementation Summary - This is a two section summary. The first section will be your strategy. What do you do better than the competition and describe how you will attract your customers (flyers, advertisement, word of mouth, networking, social media, etc.)
The second part will detail your strategy to maintain a business that will keep customers coming back. In addition, detail the responsibilities of management along with dates and budgets you can monitor to compare and contrast your busiest days and your slowest days.
6. Management Summary - You will detail the important members who will run the business and include a resume of their history in that area, so it will give the financial advisers a peace of mind to know you have qualified and quality employees for the business to succeed.
7. Financial Plan - This is the most lengthy part of your business plan because it will include profit and loss statements, projected financial statements of the next 3 to 5 years of business, and cash flow tables
The start up cost of your business will be included in your financial summary that includes lawyer fees and accountant fees; however, some additional fees will arise that are unexpected ~ so allow for a contingency account for that purpose.
Remember ~ to hire people you know are professional themselves and will guide you every step of the way!
Except the Lord builds the house, they labor in vain who build it; except the Lord keeps the city, the watchman wakes but in vain. Psalm 127:1 AMP
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