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Category: Business Plans

Need Start Up Funding? Here’s a Great Tip…

August 30, 2016 by Jason Wells


Need Start Up Funding

If you need start-up funding for your business, you need to present a business plan that shows clearly the business you propose to go into and your place in it. Prospective investors will expect you to cover all the bases and give them a very clear picture of what your chances for success are. Tell Investors Your Strengths, Weaknesses, Opportunities, and Threats All businesses have strengths, weaknesses, opportunities and threats (SWOT); itemizing them is called a SWOT analysis. Outlining these in detail is essential for a business plan. SWOTs are [Read More]

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8 Essential Elements of a Winning Business Plan

August 19, 2016 by Akira Hirai


8 Essential Elements of a Winning Business Plan

It is generally understood that business plans are important, but few people actually know what should be included to create an effective business plan. Rather than relying on trial and error that could cost your startup support and funding, here are the essential elements of a winning business plan. 1. Your business plan must be professional and grammatically correct. A business plan is the first impression most investors and backers will have of your business, and you want to put your best foot forward by making sure your plan looks [Read More]

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7 Tips for Crafting an Effective Mission Statement

December 17, 2015 by Devin Berger


7 Tips for Crafting an Effective Mission Statement

Many startup business plans include a mission statement but most of these statements are simplified company overviews with vague generalizations about the market or customer base. Instead of explaining a company’s mission, they tend to summarize the company’s products and services. To be effective, mission statements need to be clarify the intentions of a business while being inspirational and meaningful to customers and employees. Successful mission statements may take time to create but when they are developed correctly, they provide a company with a clear direction and purpose. The following [Read More]

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Stick with Your Concept but Do Your Homework

November 19, 2015 by Jimmy Lewin


Do Your Business Plan Research

A local restaurant owner stopped by the office last week. He has operated a neighborhood sushi restaurant for 5 years and decided that it is time to open a second location. We assumed that he meant that it was time to open a second location of his current concept but we were wrong. He wants to open a new concept. He mentioned that he was aware of a troubled restaurant in a good location and thought that he could buy the restaurant and then re-open in that space. He came [Read More]

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Your Business Model is the Foundation of Your Business Plan

September 24, 2015 by Shyam Jha


Business Model Foundation Business Plan

The report of the death of the business plan has been an exaggeration, to paraphrase Mark Twain. Yet, we often read opinions in popular business press that the business plan is no longer relevant. All you need is a business model, we are told by business gurus. While there is no consensus on the definition of a business model, most people use it as shorthand for the revenue model of a business; i.e. how does it make money. A business plan, on the other hand, must not only explain a [Read More]

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Is Your Concept Feasible?

January 9, 2015 by Akira Hirai


Test the feasibility of your concept

The start of a new year brings thoughts of new beginnings. For some of us, that might mean thoughts of turning our ideas into businesses. We’ve all had “Eureka!” moments when we come up with bright ideas for that proverbial better mousetrap. If only we could build it, the world would surely beat a path to our door to buy it. A sure thing! In reality, new businesses are never sure things. In fact, most business ventures fail. And that usually means entrepreneurs go through tremendous hardship with little to [Read More]

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Execution Makes a Good Restaurant (and its Business Plan) Great

October 27, 2014 by Jimmy Lewin


restaurant business planning

At Cayenne Consulting we’ve written dozens and dozens of business plans and created an equal number of financial forecasts for our restaurant and hospitality clients. For the most part, we can proudly claim that our clients love our work and, equally as important, our clients’ lenders and investors love our work as well. This success has caused us to sit back and wonder if there is really a differentiating factor between the way we develop business plans for this sector and the way other plans are written. In speaking with [Read More]

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Price Your Product to Capture the Value You Create

May 14, 2014 by Shyam Jha


value based pricing

Are you leaving money on the table by pricing products based on costs? According to Wharton marketing professors Jagmohan Raju and John Zhang, most companies either price their products and services based on their costs, or their competitors. They fail to capture the value they create for their customers. When asked how they set their prices, many executives throw their hands up the air and say, we don’t set the prices, markets do. They are wrong. Markets don’t set prices; marketers do. In their book titled Smart Pricing, Raju and [Read More]

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The Fallacy of First Mover Advantage

February 18, 2014 by Shyam Jha


The Fallacy of First Mover Advantage

“No one remembers the second man on the moon,” goes the marketing adage. “Or second to market.” Fans of Buzz Aldrin may disagree, but the fact remains that Neil Armstrong is the name that first comes to mind when thinking about the conquest of the moon. Being first to market is a much-hyped strategic advantage. Indeed, there are several cases of first mover advantage holders who created a new market space with a new product or service, and continued to dominate that segment. Think Ford in automobiles, Gillette in shaving, [Read More]

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The Business Plan as Guiding Light, Messenger, and Living Document

February 4, 2014 by Joan Morgen


The business plan as guiding light and messenger

You’ve developed a product, and have determined that there is a real market for it. That’s an important first step. Now, how are you going to move your product from the drawing board to the consumer? Like embarking on any other major change in life, you need a plan. Whether you’re a start-up or an established organization going through transition or transformation, the importance of a solid business plan cannot be overstated. The process of creating a business starts by formulating a five year business plan. Determining who you should [Read More]

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