Or is it meat-and-potatoes on the table?
If you are serious about starting up that new business you’ve been dreaming of, and putting your heart, soul, time and money into making it a reality, you know how important a business plan is to your success – because success doesn’t just happen.
There are three steps to success
- Decide what you want
- Plan how to get there
- Execute the plan
These are cyclical, in that you may have to execute some things, evaluate and revise your plan accordingly as you go. But a valid, well thought out and tested-against-reality pro forma budget is essential. It’s easy to make assumptions upon which to base your financial performance, but often this is taken from just a few outside sources, and may not be statistically significant or meaningful, though it may still be instructive and informational.
What if you could get a comprehensive report regarding how your pro forma compares to current industry statistics across 51 Key Performance Indicators from a national sample of similar companies? This would give you a very significant real-world benchmark against which to measure the validity of your basic assumptions and ensuing calculations.
If you find that your projections, if realized, put your startup in the top 1% of your industry your first year, you may want to rethink your assumptions, or your calculations. Perhaps your projections have you in the bottom dectile your first year. Your projections may be overly conservative. And wouldn’t it be nice to have the industry data to back up your sales pitch to the Shark Tank, to get the investment capital or loans you need to cover your initial cash flow needs?
Would it be helpful in the planning process to have the industry averages for the businesses with your first year projected net sales in your NAICS code and your ranking by percentile in 51 Key Performance Indicators, including return on sales, return on assets, current ratio, net sales per employee, and so much more? How much more accurate and meaningful would this added dimension of detail make your business plan? How much more confidence would you have to press ahead for success, knowing the potential of your industry as a whole – quantified, clarified, specified?
BizBench identifies exactly where your business stands – where it will most probably beat the industry and where it will most likely be beaten up. BizBench allows you unlimited reports to refine your plan until you are confident that industry data is validating your projections.
Most importantly, BizBench provides you a comprehensive +-50 page report including complete analytical detail, comparative tables and graphs, and solutions to those areas where your plan may still need strengthening – as documentation to validate your plan.
So if you are serious about assuring a realistic ROI on your time, money, sweat, and tears you will put into your brainchild – BizBench can clarify, specify, and quantify the power of your business proposal.
Let us help you succeed!
Order your subscription and consultation with unlimited reports to make sure that you can get your business plan SPOT ON!