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QUESTIONS ANSWERED BY THE BUSINESS PLAN

1. How much can I make? 2. How much can I lose? (including loan guarantees, opportunity cost, and non-financial considerations) 3. What is unique, innovative or technologically different? 4. What is perceived value of your product versus what your product actually does? 5. Why will everyone need your product or service? 6. What will happen to your customers if they don't buy your product or service? 7. Who says this is a good investment?

BUSINESS PLAN DO's AND DON'Ts

1. DO keep business plan as short as possible without compromising description of your venture and its potential. Venture investors are NOT patient readers. 2. DON'T over-diversify your venture. Focus attention on one or two key products or services. 3. DON'T have unnamed, “mysterious” people on your management team. A 'Mr. G. who is CFO of XYZ, Corp.' who will join your company later. 4. DON'T describe technical products or manufacturing processes with jargon that only an expert can understand. 5. DON'T estimate your sales on basis of what you can or would like to produce. 6. DON'T make ambiguous, vague or unsubstantiated statements. Be precise about market size, rates, etc. 7. DO involve your management team in preparation of business plan. 8. Do disclose any current or potential problems with your venture.

While a well prepared business plan is never a guarantee that your business will be funded, it can increase odds in your favor.

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Please feel free to pass this article, in its entirety, along to your associates.

Copyright 2002, Venture Planning Associates, Inc. ciates, Inc.

As you pick up each piece of paper or item you are sorting, ask yourself following questions, and PLEASE, be honest with yourself:

WHO does this belong to? WHO needs this?

WHAT use is this? WHAT do I need it for?

WHEN will I need this? WHEN will I use it?

WHERE will I find this? WHERE does it belong?

WHY do I have this? WHY do I want this?

The TICKLER FILING SYSTEM (sorry, I don't know who developed this) is a dated filing system. The system consists of 43 folders: one for each month labeled January – December, and one for each day of month, labeled 1 - 31. This is where you will put "action" piles from TEASER last five minutes of your appointment with yourself. Don’t worry if piles are too big to fit into your tickler file. We’ll deal with that in a minute. Take each pile and decide on a date and time you will work on that action. Place pile in tickler and write corresponding date and a time in your calendar with a little t in a circle. Keep this and following appointments! If other items come into your office that will need same action, such as enter business cards into your database; put those cards with bundle you already have in your tickler.

If pile is too large, place in a box or container, make a note of where you are storing it and slip that note/location into your tickler.

You can make a tickler file or buy one already made at most office supply stores (see http://www.overhall.com ickler_file.htm ). As you can see, this is an action-dated system. The purpose of system is to "tickle" you, and it's a place to store information or work you have or need for a particular day and/or month. This is your one and only SAFE Place; where you would file such things as your dated follow up calls, airline tickets, vacation plans, meeting information, and bills. Its uses are endless!

Using 5 W's of Organizing, a Teaser, and a "Tickle" daily will help you keep your desks, floors, and credenza free of paper clutter, and will give you more time to do things that you want to do!

Smiles, not Piles, Janet L. Hall

Copyright © 1999, 2000, 2001 by OverHall Consulting P.O. Box 263, Port Republic, MD 20676 All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as this copyright notice and full information about contacting author is attached.