All the Ws of a Business Plan

A business plan is a written description of the future of your business and more importantly, how you are going to get there. It is a document that explains what you are going to do to make your company profitable and how you are going to achieve this. It defines both your business model and your strategies to make this business model work and more importantly profitable.

Normally when a business idea arises, you know what resources and capabilities you have at the start of your business and where you want to go in a certain period, usually in 3 or 5 years. But what is the way to reach that goal? Where to start? How to arouse investor interest? Even, how to get your business off the ground? Everything seems so easy when you have the great money winning idea and concept. It is how you are going to achieve these dreams and get enough money to keep the business going for many years to come.

Writing a business plan is to build a map that will guide you to where you start making money with your initial business idea. At is very basic structure, your business plan is a mixture of strategies and plans. It involves financials, marketing, staffing and products. Think of it as the foundation to your new business.

WHAT are the reasons that I might need one?
• To look for investors.
• To apply for a loan.
• To establish the viability of your business idea.
• To make improvements to your current business.
• To expand your current business.

All of these types have different emphasises and a different structure.

WHAT is a business plan?
It is a tool or document that describes a business opportunity or idea, the work team, the operational and marketing execution strategies, the business risks and the economic viability of your business. A well written document guides you to turn an idea into a viable business.

It can also be defined in another context in that the business plan becomes a fundamental tool within the analysis of a new business opportunity, a diversification plan, an internationalisation project, the acquisition of a company or an external business unit, or even the launch of a new product or service within the current business.

To summarise, both for the development or launch of a startup and for the analysis of new business investments, the business plan becomes an indispensable tool. So even though you have an established business, you will still need a business plan as you expand and improve that business.

A business plan is never finished and should be reviewed from time to time at least annually but certainly when large changes to an existing company are anticipated. This implies that every plan must adapt effectively and efficiently to the changes, helping the project to continue.

WHAT is the point of a business plan?
Many entrepreneurs think they only need a business plan when they are seeking investment or when the bank asks for one. However the act of business planning, when completed correctly, enables the entrepreneur to carry out an extensive market study that will provide the information required to design the best possible business model that will be both profitable and efficient.

Additionally, the business plan will develop the strategic measures for all functional areas that will enable them achieve the objectives for the new business.
Once written, the business plan will serve as an internal tool to assess the management of the company and its deviations from the planned scenario. Proposing, if necessary, adaptations to the agreed business model in order to obtain updated information for the daily management of the company. This will include preparation of the required changes and processes to bring the business back on track.

So lets dive into the concepts behind business planning a bit more.

The WHY of The Business Plan
• Why do you want your business plan?
• Why are you writing the plan now?

The WHAT of the Business Plan
• What is the purpose of developing a specific plan?
• In what period do you consider it possible to carry out your projects?
• What is your business model?
• What is your Value Proposition?
• What are your products or services to be offered?
• What positioning do you plan to develop to compete?
• What are your measurements of success?
• What markets do you plan to penetrate?
• What market percentage do you estimate to obtain?
• What margins do you consider possible?
• What income do you consider you will receive?
• What are the costs of expansion?
• What are the costs of obtaining new customers?
• What do you want to do with your business?
• What strategies do you want to undertake – financial, marketing and planning

The WHERE of the Business Activity
• Where will your products be sold from? Shop, office, website, social media, road side, party planning,
• Where are you based? Locally, centrally, virtually etc.
• Where are your products produced?
• Where are your distribution channels?
• Where are they going to be sold?
• Where is your market?
• Where will your staff need to be based?

The WHEN of your business planning activities
• When will you need to start your new activities?
• When will they end?
• When will your investor need to invest?
• When will your investor get their money back?
• When will you have enough staff to carry out your new changes?
• When will your products and services be available?
• When will your products need to be updated and/or improved?
• When is the best time to attract new customers?

WHO do you present your plan to?
• Bank for loan purposes and they will take a charge over a property usually.
• Investor to join your company as a shareholder.
• Angle Investor to join as a shareholder but also be involved in the running of your company.
• Management team so they know what is expected of them.
• Suppliers who will be offering credit.
• Director level hires so that they are encouraged to join your company.
• Believe it or not the entrepreneur should also refer back on a regular basis.

As you can see there are a lot of Ws involved with a business plan – the biggest W is why should you write a business plan and the answer is – because it is such a great business tool.

Writing a winning business plan is a complicated procedure and best accomplished with an experienced business consultant. BizGuru.us can assist you with consultancy, strategies, business model canvas production and pitch decks.

6 Health Fitness Myths We Shouldn’t Believe Anymore

Whether it is read online or heard from family and friends, there is a wealth of information available regarding ways an individual can improve their health and fitness. However, while most of this information is presented as fact, it may actually be based on common misconceptions. The following dispels many popular health and fitness myths.Myth: Stretch Before ExercisingStretching is a crucial component of exercise; however, it should not be performed before a proper warm-up. Although many people may believe stretching before a workout will increase range of motion while exercising, stretching cold muscles that are not warmed up can result in injury and can impede performance. A brief five to ten warm-up will prime muscles prior to stretching or exercising and can prevent injury.Myth: Strength Training Causes Women to Look BulkySome women may avoid strength training due to the fear that they will develop large, bulky muscles. In reality, women simply do not produce the amount of testosterone that is needed for muscles to significantly increase in size. Due to this lack of necessary hormones, it is not possible for women to gain large amounts of muscle through natural means. Rather, strength training is necessary for increasing metabolism and strengthening bones.Myth: Performing Crunches Eliminates Abdominal FatWhile it is completely untrue, many people believe that they can reduce abdominal fat by performing crunches or other abdominal exercises. In order to see muscle definition, overall body fat must be reduced. This is accomplished through an exercise program that contains cardiovascular activities and strength training. Although performing crunches will strengthen the abdominals, these exercises alone will not eliminate body fat in the area.Myth: Drink at Least Eight Glasses of Water Each DayIt is not necessary to adhere to the adage that everyone should drink eight glasses of water each day. Most people consume plenty of fluids and recent research has shown that many food sources and beverages such as juice, coffee and soda can also help people meet their hydration needs. In general, individuals should drink water only when they feel thirsty, unless they have certain medical conditions, live in a hot or humid climate, or have been exercising.Myth: Pain During Exercise Produces ResultsAlthough it is normal to experience mild soreness or discomfort one day after exercising, individuals should never feel pain while they are exercising. Pain felt during exercise is often indicative of injury and can be caused by exercising improperly or over exercising.Myth: Soothe Muscle Soreness With a Hot BathSince blood vessels dilate and become wider when exercising, it is possible for lactic acid to build up, which causes muscle soreness. While sitting in warm water may be comfortable and relaxing, chilled water is actually more suitable for anyone experiencing muscle soreness. Cold water causes blood vessels to narrow, which can decrease any waste products that can build up in muscles.

Burst Training and Body Cleanse – Two Steps Toward Fitness

Engaging in burst training and using a quality body cleanse program are two important steps toward practical athleticism and all-around fitness. Does that sound strange? Well, consider.Have you ever taken a close look at a long-time jogger? Or what about that woman down at the gym who spends hours and hours every day running feverishly on the treadmill? They’re thin, no doubt. But they also have a layer of fat because they have consumed muscle mass with all that extended aerobic activity. And if they still have a layer fat, they still have toxins in their bodies.Instead of the joint-destroying, muscle-burning, metabolism-slowing so-called aerobic exercise, try burst training-it works and requires a lot less gym time. Here are some of the other pluses of burst training:- Increases fat burning and overall fitness levels- Stimulates production of growth hormone, which aids in healing and increases energy- Decreases inflammation, which reduces pain and decreases the risk of chronic disease- Has less impact on the adrenal glands, which leads to more energy and better sleepBurst training consists of brief bouts of fairly intensive effort-say, about 90% of maximum effort for about 60 seconds-followed by short periods of rest, about one to three minutes. Beyond being a better way to burn fat, it is also better designed for recovery and elevates your metabolism. Often confused with high-intensity interval training, burst training is generally lower impact and more easily adapted to the needs of busy people who just want to get healthy and look better. And it doesn’t necessarily have to involve lifting weights. Any fairly intense, short-duration exercise or activity that engages the whole body will work, for example, kettle bell training, wrestling, martial arts, various contact sports, sprinting, and swimming.But the right exercise program is only half the fitness equation. You also need to use a body cleanse program. We are exposed to a host of toxins every day-in the air we breathe, in the food we eat, in our water, in house-hold cleaning products, even in toiletry items. What happens then when all these poisons gain entry to your body is that your liver attempts to disarm them and then they are excreted. The process, however, is only partially effective. The remaining toxins wind up lodged in fat cells. Then, when you begin to lose fat, these toxins are released back into your system to do their insidious damage.That’s why a quality whole body cleanse system/program is also a must. But many of the body cleansers on the market lack a full-blown system and just do some toxin flushing, but little else. For overall health, fitness, and a toxin-free body, what you need is product that, in addition to cleansing your body, also provides vital nutrients and digestive aids to protect your body during the cleansing process, assist with fat loss, and replace depleted nutrients. And there is a product that does all this.The 21 Day Body Makeover will, first of all, help you achieve a higher level of health by cleansing your body from the inside out. Further, this body cleanse and body makeover includes powerful, bio-identical nutritional components carefully engineered to aid in enhancing fat loss, rejuvenating cells, increasing energy, balancing hormones, and improving quality of sleep. It’s one of the two important steps toward fitness.