Business plans that work : a guide for small business /

This current, clearly written, well-illustrated, and practical book by three highly competent and experienced experts (all, Babson College) is an excellent contribution to the literature of planning for small businesses. It not only indicates what should be included in a business plan, but also contains examples of an actual business plan for a small business in the launch stage for each concept discussed. Chapters follow the sequence in writing a business plan and explain what is needed for success in a new venture, which includes (1) an evaluation of the opportunity, the competitive advantages, and vision of the venture; (2) an industry analysis, including an evaluation of the competition; (3) a description of the company and its product; (4) an analysis of the risks involved; (5) a marketing plan, including the pricing, distribution, advertising, and promotion strategies; (6) a financial plan, including a five-year sales forecast, a cash flow statement, a balance sheet, and the financing needed; and (7) the operations plan and team needed, which includes having a board of advisers. This book should be very helpful to the 22 million Americans who are in the process of launching a business or who own a business less than four years old. ^BSumming Up: Highly recommended. Public, academic, and professional library collections. D. W. Huffmire emeritus, University of Connecticut