How To Write a Business Plan That Is So Good the Bank Manager Quits His Job and Steals Your Idea!
Posted: Friday, March 27, 2009
by LeahG Artist
Cartoon & Illustration Services
This happened to me!
I wrote a business plan a few years ago with the help of a 'business plan writing' product I will tell you about herein that was apparently so good that the Loan Manager we saw at the bank, not only quit his job to set up our 'business' but took the franchise area we had identified in our business plan thus preventing us from being able to do so!
This really happened... strange as it seems.
So what was so good about this business plan and how can you write one that is so good that your bank manager quits his job to steal your idea?
I used a very inexpensive piece of software called 'plan-it' there are probably lots of versions of business planning software available now and I imagine any of them are better than a novices attempt to draw up a plan so research what's on offer via the Internet, check online reviews and invest in a product. This small investment will pay you back in spades if your bank manager grants you the business loan you need to start up your business!
The software product has templates to suit various business models and each template offers a few words and 'spaces' for you to fill in the vital information that your bank manager needs when deciding how high risk your business model is.
There will be a SWOT analysis for you to consider and along with your cash flow forecast this is one of the most important aspects when deciding to set up a new business.
What is a SWOT analysis?
S = Strengths
W= Weaknesses
O= Opportunities
T = Threats
Strengths
You need to consider what your businesses strengths are.
Be honest about areas where your business lags behind the competition, this will impress the bank manager if he knows you are aware of the shortcomings as this indicates you will consider ways to resolve them.
What gaps are there in the market that you can capitalize on?
Consider things that can threaten your business
If you are serious about business, getting the business plan right is imperative.
Good luck!
I wrote a business plan a few years ago with the help of a 'business plan writing' product I will tell you about herein that was apparently so good that the Loan Manager we saw at the bank, not only quit his job to set up our 'business' but took the franchise area we had identified in our business plan thus preventing us from being able to do so!
So what was so good about this business plan and how can you write one that is so good that your bank manager quits his job to steal your idea?
I used a very inexpensive piece of software called 'plan-it' there are probably lots of versions of business planning software available now and I imagine any of them are better than a novices attempt to draw up a plan so research what's on offer via the Internet, check online reviews and invest in a product. This small investment will pay you back in spades if your bank manager grants you the business loan you need to start up your business!
The software product has templates to suit various business models and each template offers a few words and 'spaces' for you to fill in the vital information that your bank manager needs when deciding how high risk your business model is.
There will be a SWOT analysis for you to consider and along with your cash flow forecast this is one of the most important aspects when deciding to set up a new business.
What is a SWOT analysis?
S = Strengths
W= Weaknesses
O= Opportunities
T = Threats
Strengths
You need to consider what your businesses strengths are.
- Are your staff better qualified than the competition, more skilled?
- Is your location more prominent and more spacious than the competitions? etc
Be honest about areas where your business lags behind the competition, this will impress the bank manager if he knows you are aware of the shortcomings as this indicates you will consider ways to resolve them.
- Are your premises off the beaten track - hard to find, lack of parking? etc
What gaps are there in the market that you can capitalize on?
- Few competitors in your area
Consider things that can threaten your business
- Recession
- Competition near by
If you are serious about business, getting the business plan right is imperative.
Good luck!
LeahG Artist and Designer
Leah left the retail and health management world a few years ago to become a freelance writer and artist. She now enjoys creating funky vibrant cartoons and illustrations for websites, promotional materials and as gifts. Leah would love to illustrate her own children's books in the future.
Visit LeahG's Cartoon and Illustration Services website here for updates and latest art work.
Leah left the retail and health management world a few years ago to become a freelance writer and artist. She now enjoys creating funky vibrant cartoons and illustrations for websites, promotional materials and as gifts. Leah would love to illustrate her own children's books in the future.
Visit LeahG's Cartoon and Illustration Services website here for updates and latest art work.
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Top-level comments on this article: (1 total)Very interesting. I am pretty sure his karma will come back to haunt him. Glad to see that you didn't let it slow you down any.Indeed I hope it does, that wasn't the worst of what he did either. When we applied for our loan, there was a vat bill of £9,000 which we'd have refunded in full shortly after. He told us due to this he'd lend us this money on top of our loan knowing full well, it'd be back in the account in no time. However, to 'delay' our application for the franchise (I assume) he went back on this offer, so in the space of 1 day we had to find £9,000 ourselves.
We were very lucky in that a family member stepped forward or that would have been the whole plan lost. He really was a scumbag. My ex was called him at his 'new business' and was very cordial. More than I would have been! I can't say it worked out well to be honest as we ended up with a franchise further away and this put an added strain on our marriage. For that and other reasons we are now divorced.
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