Category Archives: business plan guide

Business Plan Format

Posted on by
Reply

When you have a business plan format that is simple to implement and has been designed for your business, you have a high chance of success. A business plan will guide you when starting up and also when you are looking for funding. It is important to create and develop a solid business plan because it allows you to focus on your set objectives and gives you a step by step guideline on how to achieve this.

It will also cover all aspects of your business that you would otherwise forget to include if you didn’t have it written down. When you have a simple business plan format for a specific time period you will be able to achieve more. It should include your vision in terms where you see your business in the next few years. Your leadership skills should be portrayed.

Your management strategy is another important aspect that has to be included in business plan format. This should show how you intend to manage your time, the team, marketing etc. The financial part is also crucial. You need to project how much you want to have made by a specific period. Another key aspect that cannot go unnoticed is your marketing strategy. You have to specify how you intend to market your business and your strategies will bear fruit. In this section, it is necessary that you include how you plan to keep the existing customers coming back making them repeat customers.

The systems that you have put in place or intend to put in place to help in the running of the business also have to be incorporated. You will also have to mention the steps that you are taking to train and educate your team so that you can improve the business. The method that you will use to turn your sales projection into actual sales also has to be included in your business plan format.

How To Start Radio Station: Radio Station Business Plan – Explained Step-By-Step

Posted on by
Reply

This article specifically explains how to start radio station on FM band to cover a city specific crowd. (maximum approximate broadcast radius of 40 miles). It more specifically explains a step-by-step process to formulate a radio station business plan, without having to spend huge money to hire consultants in the beginning stages.

Let’s begin -

The process of setting a radio station business is divided into two broad parts -

(1) conceptualization &

(2) ground execution.

Conceptualization or planning involves studying all the aspects that go into drafting a detailed radio station business plan. Be informed that most of the successful radio station startup spend anywhere from 3-15 months in conceptualization alone. The actual ground work execution hardly takes 3-4 months to complete.

While most of the conceptualization process does not entail costs,  execution involves spending money. You definitely do not want to be spending thoughtlessly on some equipment only to repent later. Therefore, anyone who is thinking of getting into this business is advised to follow this time tested approach.

Activities to be undertaken during conceptualization phase:

The conceptualization process begins with approaching the broadcast licensing authority of your land to get the application form and to explore about the availability of transmission frequencies for allotment.

This should be followed by a detailed study of the license application form to start collating necessary information and resources to build a great business plan for setting up your radio station business.

How to Implement a Business Plan

Posted on by
Reply

Implementing Your Small Business Plan

Your Plan Becomes a Reality

This is the 3rd article of our Business Planning series. I am assuming you have completed your plan and we are now ready to actually start using it.

The most important thing about planning for any type of business, is having the ability to implement that plan into real goals that are achievable; daily, weekly and monthly. A big fat 60 page plan that is filed and forgotten is ridiculously useless.

I never plan ahead further than a year. Business changes constantly as will the direction of where you are aiming to take your business. To allow yourself to be flexible as an entrepreneur, don’t plan too far ahead. Too much planning ahead can also lead to you becoming overwhelmed at the thought of trying to achieve so much. Keep it short and precise and achievable and there will be more chance that you will actually achieve it.

Ok, so now you have that plan we need to look at how to implement it.

There are 3 major areas of your plan that you are going to live by:

1. Budget and Projections

2. Management Process

3. Growth and Marketing

If you implement nothing else but your goals for these areas, you will do just fine.

1. Budgeting and Projecting

From your business plan you will have a profit and loss projection and budget for the year. Please print off and stick your projections and budget somewhere visible i.e. Right in front of where you work, on the fridge etc.

Inside whatever accounting software you are going to use (we recommend Quickbooks), ensure that you have a budget that is easily accessible or possibly set up your system to allow you to view your live figures versus your budget in a live format. To begin with, do your accounts weekly so that each week you are sticking to your budget. The same goes with your projections.

If you are not meeting your projected profit targets, take action immediately and create marketing ventures that will help you ensure that you reach your targets. Our Ebooks offer you a smorgasbord of marketing and advertising options to choose from that you can implement each month; most of which are free.

2. Management Processes

Within your plan you will have identified how you would like the business to run each day and what management processes and systems you are going to use to ensure your business runs smoothly. Just because you have outlined those processes in your plan doesn’t mean that you are automatically going to practice them diligently does it?