If you are creating a business plan it certainly does take some significant time to find out all the correct information to include in it. This is where a simple business plan template can save you considerable time and effort. If you are limited on time, the consider using a template to get things done quicker.

What types of things should be in a plan? Well firstly you should include the basics like where the business will be located. Then consider other basic issues like who the employees will be and how many people will be working for the businesses when it starts.

Once you have got through the basics then consider things like target markets. What will the target market be and what product or service will you sell? You need to consider the demographics of the people you will be targeting and you can get a lot of this information from surveys. It is important that you consider this information as it will help you target your marketing more accurately and your conversion rates will be much better.

Other things you need to include in your plan are things like cash flow, where the capital will come from to set up the business, how long you expect it to take before you start making money and how many things or how much service you need to sell to break even.

Having a basic simple business plan will allow you to start you business with a better view of the future and allow you to avoid any mistakes that you may have not possible foreseen.

We are living in a high-tech era where gadget computers and internet has become an important part of our lives. If we try to put it in a simple way we are virtually living in cyberspace. Internet has not only helped us with a better way of communication but has also opened up a doorway to newer and bigger opportunities. One of those unique opportunities is having an online business.

In order to do a successful online business one must have a well coordinated internet business plan. A business plan is actually a proposal stating the fact about your business. Any internet business plan should have a definite goal and a fair budget. But it also needs good entrepreneur skills too.

In the modern world e-commerce has achieved a lot of importance. Online businesses are thriving all over, thus giving a rise to a tough competition. The conception of an online business is not too different from an offline one. It requires a lot of knowledge and research over the business plan. Proper planning foresight and sound knowledge can give u a head start over your competitor.

Internet business plans comprises of businesses like web development, web content writing, online marketing, online banking, online share trading etc. To incorporate an internet business plan one must start from rudimentary level, covering all the aspects like, your targeted customer, marketing strategy, the operations, management and most importantly customer service. In order to promote your business you must choose a brand name which states clearly about your company objectives. In order to be safe from scammer, you must do a thorough research on the company or product you are dealing with. The also needs to be flexible, and should be made keeping the customer’s need in mind.

There are many internet businesses which are home based. Running a business from home can be very beneficial. There are many home based business tips available. if you are doing an online business from your home then you should have a well researched and sound Internet Business Plan and follow some home based business tips, set a schedule and stick to it, have a proper workplace, have 24/7 internet connection, advertise, familiarize with the tax laws, try multitasking etc.

All online businesses weather it is home based or not needs a strong and sound business plans as well as a better idea of what are the basic involvements of a successful internet business.

How many of you have prepared formal business and/or strategic plans? Possibly, you have prepared business plans when you were seeking financing for their start-up, growth, or an acquisition. Some of you may have developed a business plan as a road map to follow, and measure their results against it. But generally, surveys indicate that, unless it is done to acquire financing, business plans are not done.

Business plans are generally prepared for a three-to-five year period. The scope will define the start-up, expansion, or acquisition costs. Specific markets, products, marketing plans and organization for the company will be outlined. An implementation process will be outlined with dates and assigned responsibilities (milestones). Sales projections are absolutely necessary, and will be the basis for the financial forecast which will include balance sheet and cash flow forecasts as well as the profit and loss forecast. Those financing the company will want to see how they are going to get paid back; investors will want to see what their return will be.

Your city/state economic development departments, SCORE (Service Corps of Retired Executives), the banks, and various resources on the web can give you formats that you can use to develop your business plan. While business plan development can be done internally, I generally recommend using outside help. They will ask the tougher questions and will do a much more through job of market analysis because they have no “insider” bias.

Strategic plans are significantly different than business plans, and I doubt very many companies have even attempted one. Strategic plans are much broader in scope, as they start with defining the vision and goals of the company and can be developed for as long as 20 years, with adjustments being made as often as necessary as the business environment changes. Strategic plans are much more visionary and are focused on ongoing improvements and building market share. Plans may be modified, but the vision should never change. Goals are always established before the company takes any action steps.

Strategic planning does yield success. Studies have proven that companies with plans are 12% more profitable, and 64% state that they do a better job of meeting their short term goals because these goals are fully aligned with the company vision. Generally, annual budgets (if you do these) are too short term and are focused on the current situation, not the future vision. Approximately 80% of all INC 500 companies actively use strategic planning.

While there are many examples of business plans on the internet, there are not as many examples for strategic plans. The formats vary significantly, but the approaches are generally consistent. They can be anywhere from a one page plan to a complete document. Generally, there are no financial schedules. Specific financial targets are important, but strategic plans are much broader in scope and are more sales or market focused.

One of the most critical steps in developing a strategic plan is the SWOT analysis (strengths, weaknesses, opportunities, and threats). Once that is done, keep it close by and refer to it often. Update it as conditions change. Next develop your core values; these should never change as long as the company exists. The core value defines the company’s purpose – why it is in business – the heart of the company. Then define the actions that must be taken to comply with these values. The next, and most important step, is to develop your BHAG (big hairy audacious goal) – the “why” of the company for the long term.

Once these longer term goals are established, the next step is to define the intermediate targets that will be required to meet those goals. These intermediate targets should cover three to five years and should use key performance indicators (KPI’s) to measure progress on achieving the goals. The intermediate goals are further broken down into more specifically-focused annual goals and measurements. The next step is to define quarterly goals and measurements. And keep the number of goals limited. KPI’s should be measured routinely to insure that the company is achieving its goals.

The focus of strategic planning is to develop the base values and goals of the company. These are the foundation of the company, and should never change. All additional goals and KPI’s will be developed to define the shorter term steps that will support this base. The process is designed so that the quarterly and annual goals can be updated as the company progresses, and to adjust for environmental changes (which will happen). The strategic planning process is a well-defined building block process that will result in a better focused and more profitable company.