Abstract: BUSINESS PLANS MADE EASY, SECOND EDITION By Mark Henricks & John Riddle Entrepreneur Press, 2002, 336 pg. ISBN: 1-89198443-8 Business Plans Made Easy: It's Not As Hard As You Think, presents an excellent, ready-touse methodology for writing a business plan and presenting it to potential funding sources. While aimed at the startup entrepreneur, even a seasoned business veteran will find it instructive. Books on writing business plans, on the whole, present the same basic information. What sets them apart is the author's writing style and use of practical, how-to worksheets and tips. Authors Mark Henricks and John Riddle have done an excellent job in both respects. The conversational style used by the authors makes this book an easy read. The material is presented as if a knowledgeable mentor was speaking to proteges, guiding them through the elements necessary in a business plan and alerting them to common problems to avoid. Scattered throughout every chapter are textboxes entitled Plan Pitfall, Plan Pointer, Plan of Action, Fact or Fiction, and Buzzword which impart very practical advice on common plan errors, ways to improve a plan, sources for more assistance, straight answers to business plan questions, and definitions of terms a writer will likely encounter. Chapter 2 did an excellent job of dispelling common myths regarding the use of venture capital in startup businesses. An interview with a venture capitalist in the health care industry provided an inside look at what a venture capital firm is really looking for and how they evaluate a proposed investment idea and management team. Two useful pre-venture planning worksheets are included in Chapter 4. A Goals & Objectives Worksheet guides prospective entrepreneurs through a series of questions to assess their commitment to the venture and determine their management style. So often, entrepreneurs dive into a new venture without analyzing the company's financial potential. The authors provide a very practical worksheet entitled Assessing Your Company's Potential, which examine a potential startup from a financial and lifestyle perspective. An example is included on assessing the financial potential of a newsletter directed at owners of coffee bars. Chapter 8 does a superior job in describing the importance of and exactly how a startup business determines its Unique Selling Proposition (USP). The authors include a worksheet where business owners define areas of strength/uniqueness and score them on a scale from 1 to 10. …
Publication Year: 2015
Publication Date: 2015-05-20
Language: en
Type: article
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