Guides

10 Steps to Improve Your Business Plan

Published

8 months ago

July 22, 2022

Adam T

Your business plan is going to service the blueprint for your organization, defining all the necessary steps you’re going to follow as you make your business ready to launch and grow throughout the first few years. This document is also important because it might be persuasive to investors and potential partners.

You may have a draft of your business plan already in the works, but are you sure that your business plan is all that it can be? Is there anything you can do to make it better?

How to Improve Your Business Plan

If you’re looking to punch up your business plan, these are some of the most important steps to take:

Give the numbers a reality check. Many business owners are eager to make the business look as promising and as attractive as possible, especially if they’re going to make a presentation to investors. However, this approach frequently leads to over inflated numbers, which look unrealistic and unprofessional to seasoned investors. You’re going to make your document much more persuasive and set the stage for much more reasonable growth if you give those numbers a reality check and make sure they’re actually achievable.
Make your executive summary more compelling. One of the most important parts of your business plan is the executive summary, since it effectively summarizes information you’ve included throughout the rest of the document. This is also the first section most of your readers are going to see, so it’s important to make an excellent impression on this page. Revisit your executive summary and do what you can to make it more compelling, keeping it concise yet meaningful.
Plan on professional printing and binding. When your draft is finished, prepare to invest in professional printing and binding. Little touches, like adding wire-O binding, or upgrading the stock of paper you use, can instantly make your business plan look more professional. Of course, this is only relevant if you plan on showing your business plan to other people; if this is the case, consider going all out to make the best possible first impression.
Acknowledge the biggest challenges and weaknesses. It’s easy to assume that the best business plans are ironclad, showing off a perfect business that has no real weaknesses or flaws. But the reality is that all businesses have weaknesses and flaws, and pretending they don’t exist is only going to make you look worse. Go out of your way to list and acknowledge the biggest challenges your business faces and the biggest weaknesses you’re concerned about. Proactively identifying these, and setting out a plan for how to address them, will improve your business plan dramatically.
Inject your personality. Your business plan shouldn’t be a dry, personality-less legal document. Instead, it should include elements of your personality. Show off how knowledgeable you are about this subject matter and how enthusiastic you are about this project – and don’t be afraid to make a few jokes.
Focus on what makes you unique. You might already have a unique value proposition (UVP) drafted. If you don’t, now is a good time to do that. Throughout your entire business plan, you should be focusing on elements that make you unique. What makes your business different from those of your competitors? Why should customers choose you over any other business? How could this business succeed where others have failed?
Identify multiple growth and development opportunities. Most investors look for growth potential in the businesses they consider funding. Accordingly, your business plan should have multiple growth and development opportunities listed. What’s your primary strategy for growing the business? And what will you do if that doesn’t meet your expectations?
Include major milestones. What major milestones are going to define your success as a business? This is important for several reasons. First, it shows that you have a definition of success in mind. Second, that makes your business plan much more actionable, giving the business a solidified trajectory to follow in its first few years. Third, it provides real metrics for success; very soon, you’ll be able to identify whether or not the business is performing as intended.
Make tweaks for your specific audience. Consider making specific tweaks for the audience who is going to read this business plan. Instead of having a generic document you use to show everyone, develop slightly modified, targeted documents for each specific group. This way, you can appeal specifically to their interests and maximize your potential to persuade them.
Proofread everything one more time. If your business idea is amazing, you probably won’t lose it just because you forgot one punctuation mark at the end of a section. But there’s no real excuse to have any mistakes in your business plan. Before printing, proofread everything one last time to make sure it’s fully polished.

The Living Document

Some people see business plans as stagnant, unchanging documents that should permanently describe how this business will operate. But with so many variables to consider and so many changes in your near future, it’s better to think of your business plan as a living document – something you can update periodically as you learn more information. Don’t hesitate to return to your business plan and make further changes to it as you learn more information about your market, your competitive environment, and the changing nature of the economy.

Guides

Everything You Need To Know About The Longest Cruise In The World

Viking Cruises recently announced they will soon be offering one-of-a-kind cruise experience will take 245 days and will visit a whopping 59 countries.

Published

1 day ago

March 29, 2023

Loren Thorn

Got $93,000 laying around and about 8 months to kill? Then do we have the experience for you!

Viking Cruises recently announced they will soon be offering one of the most unique and elaborate cruise experiences the world has ever seen. It’s called Viking Sun and it’s a giant, 465-room vessel that can house up to 930 people. But that’s not what makes this cruise so insane. The entire trip will take 245 days and will visit a whopping 59 countries. I probably can’t even name more than 30 off the top of my head.

The cruise will start in London and the first voyage is set for August 31, 2019, and will cover some of the most interesting places in the world and everything in-between. Just look at this list of places its passengers will see: Greenland, Iceland, the Caribbean Islands, much of South America, Southeast Asia, the Mediterranean, Egypt, and even Jordan and Oman. And those are just the big hitters. There are many other lesser-known stops along the way that are sure to be worth the stop.

Now, naturally, 245 days and $93,000 (technically $92,990) is a lot to ask for most people. So Viking is offering people the change to take part in smaller portions of the grand trip. “Viking World Treasures” covers 127 days, 33 countries, costs $47,995, and stops in Los Angeles. While “Viking World Wonders” covers 119 days, 29 countries, costs $45,995 and replaces any World Treasures participants by picking up new passengers in Los Angeles who get to enjoy the return trip to London.

And while even those prices seem pretty darn high, we haven’t even covered the amenities yet. The ship includes private balconies in each cabin, an infinity pool, a Nordic sauna, and a “snow grotto.” Not to mention the price of admission covers business class airfare, free luggage shipping, transfers to and from the ship, all gratuities and service fees, complimentary shore excursions in every port and, maybe most importantly of all, unlimited free Wi-Fi.

Guides

Tokyo Disney Will Soon Feature “Tangled” And “Frozen” Villages

Tokyo Disneyland will soon feature entire villages dedicated to Tangled and Frozen.

Published

4 days ago

March 26, 2023

Loren Thorn

If you haven’t really ever considered taking a trip to Tokyo and checking out Tokyo Disneyland… it’s time to start considering it. Disney fans were dancing in the streets when they heard the latest news: Tokyo Disneyland will soon feature entire villages dedicated to Tangled and Frozen! Yeah. You heard me right.

The scheduled open date is for some time in 2022. It comes as part of a complete overhaul of their DisneySea attraction and will also include an extensive Peter Pan experience. Here’s a closer look at what they’re planning.

TANGLED VILLAGE

For those that are still missing out and haven’t yet seen Tangled, it’s a new take on the famous story of Rapunzel. The Tokyo Disneyland Tangled Village will include Rapunzel’s tower, the nearby forest, and the restaurant where Rapunzel and her prince, Flynn, dine and sing the wonderful song “I’ve Got a Dream.” And yes, the restaurant will be a fully functional restaurant where you can get a delicious meal. So fun!

PETER PAN VILLAGE

Tokyo Disneyland is also just straight up adding Neverland. So cool. Naturally, you’ll get to meet Tinkerbell and Captain Hook while you’re there. And there will also be a functional restaurant inspired by the Lost Boys and their famous hideout. If you’re like me and never want to grow up, this will be the place for you.

FROZEN VILLAGE

Frozen is one of the biggest Disney hits in a very, very long time. We still can’t go a week without hearing some version of “Let It Go,” whether it be the real, recorded version or just some adorable kid belting it out while their parents roll their eyes.

From the official statement from Disney, the Frozen village will be “a heartwarming new attraction that will take guests by boat to experience the story of Elsa and Anna while enjoying iconic songs from the hit film, and a new restaurant will be located inside Arendelle Castle.” Yeah. They’re building the castle. I can’t wait!

A NEW LUXURY HOTEL

The renovation will also include a brand new amazing luxury hotel. It will reportedly be “themed to Disney fantasy” and will offer amazing views of all the different areas of the new development. It will also include 475 rooms, two restaurants, and a shop where you can grab all the Disney gear your heart desires.

THE WHOLE SHEBANG

I mean COME ON! Doesn’t that just look magical! I guess we shouldn’t expect any less from Disney. I just wish 2022 wasn’t so far away. But make no mistake… I’ll be there!

Guides

Disaster That Can Occur When Traveling And How You Can Respond

Published

6 days ago

March 25, 2023

Adam T

The lockdowns due to the pandemic have led people to travel at massive rates. This summer is going to be full of travel despite prices going up for everything worldwide. Gas prices are something that are crippling some families as prices have doubled in some locations in the US. There are issues that can arise when traveling that you might have to deal with. Most people have had to deal with one or more of these situations when traveling during their lifetime. The following are typical disasters that can occur while traveling and how to respond.

Involved In A Car Accident

If you have been involved in a car accident then you need to contact a local attorney. Finding out what to do when involved in car accidents in Georgia or your location is very important. Driving in a new city can be overwhelming as some locations are known for extremely aggressive driving. Taking an Uber or taxi is another option but this doesn’t eliminate the possibility of an accident but could reduce it.

Flights Delayed For Days Or Completely Cancelled

Flights getting delayed due to weather is something that happens around the world. What has been happening domestically is a shortage of airline workers is leading to cancellations unexpectedly. Some airlines have more flights canceled than others which you need to keep in mind. The tough aspect of this is that it could be days until there is another flight that will reach your ultimate destination. Take the time to look at options like that of a train as this can be a convenient option with less of a chance of a delay.

Getting Sick While Traveling Abroad

Getting sick while traveling abroad is something that people have nightmares about. These can be a huge issue especially when the rest of your party has left the country. You want to ensure you are going to travel in good health as a long flight while under the weather can be disastrous. Food poisoning is quite common for travelers that are trying new foods that might not agree with their stomachs. You want to ensure you are getting enough rest and washing your hands regularly. You do not want a preventable sickness to arise just before you are about to head back home.

Arrested Due To A Cultural Misunderstanding

The most important thing that you can do when traveling abroad is to look up local laws and customs. You do not want to be arrested due to a misunderstanding. You also should realize that some police might be looking for a bribe as this is common in some foreign countries like Brazil where the police force is notoriously corrupt. Certain countries are governed by religious governments so something that is not remotely illegal domestically could land you in prison internationally.

Traveling can allow you to broaden your horizons and see all the world has to offer. Plan what you can as luck will always play a role in having what you deem as a successful trip.