It’s a life-altering experience watching your dreams of a small business come to life. Even greater when that business is successful. For many, business scaling is a part of the plan from the very inception of the business concept. For others, business scaling happens suddenly. Either way, are you ready to do what’s required to keep up with a growing business?

Identify Your Business’s Scalability

In business, it’s great to dream. But business scaling is based on likelihood. The likelihood of your business being able to grow is called its scalability. Scalability is measured by your businesses system, model, or function and it’s ability to cope with an expanding workload. Elements of a scalable business include:

Financial standing- scalable business often have high cash flow, less debt, and investors.
Technology- technology represents your business’s efficiency.

Automate as Much as Possible

You know you’ve scaled your business “big enough” when you are making money as you sleep. This level of success doesn’t happen overnight but it does start with automating as much as possible. This will require a lot of time and resources but provides the ultimate ROI.

The most effective ways to automate your business in order to scale includes outsourcing, creating an intensive training program, including technology where possible, making it simple and repeatable, and hiring strictly ninjas. Business scaling requires working on your business, not in it.

Plan BIG

Last, but certainly not least, is planning big. Business scaling means taking your business planning to the next level. For your best chance and scale preparation, your business plan should include elements that best prepare each part of your business to grow. The new opportunity will bring new challenges. Is your business plan ready for the change? You may have to toss out that small business plan and start new. Industry experts in your area are waiting to help you take your business to new heights.

Developing the appropriate business leadership skills doesn’t happen overnight, especially the kind that help you scale a startup. These leadership traits come when regular business people become proactive about accessing their long-term potential. Gaining some of these traits even require letting old habits die.

Delegate

You can’t go it alone. Even though you’ve been told your entire career. “if you want something done right, do it yourself!”. This will just leave you tired, bitter, and with a failed business.

The difference between a budding entrepreneur and a successful business person it the ability to assign tasks that others can do just as well–maybe even better than you, the boss. If you ever walk into a restaurant, you shouldn’t see the owner chopping salad while the line gets backed up. In order to see your business scale, you have to have an eye on the whole picture. You won’t be able to anticipate and plan for success if you’re caught up in menial tasks.

Nurture vs. Nature

Grow with your business and lead by example. Nurturing your team (and self) is how you will remain focused and avoid becoming overwhelmed. Nurturing your team includes doing what it takes to help them refine their skills, learn more about your market, and improving everyone’s overall business acumen.

Feedback Loops

Creating feedback loops are crucial if you’re looking to scale. A feedback loop happens when a team, including the CEO, create a scheduled system of one on one meetings to provide and receive feedback. Feedback loops can become embedded into your business if you make them a priority. Be consistent and provide valuable keynotes to staff. The result is progress and being able to see how all the moving parts are functioning.

Business leadership skills are what will take you to a whole new level of entrepreneurship and the ability to help businesses scale.

Writing an EB-5 business plan that is compliant to the needs of investors is complex and cumbersome. Bargain Business Plans has taken the initiative to create a professional and expert approach demanded of an EB-5 business plan. To provide entrepreneurs from around the globe and equal chance at competing, the standards are carried out.

Compliance

The USCIS Administrative Appeals Office has specific requirements for an EB-5 business plan. BBP’s team stays on top of these requirements and is fully compliant in all matters including:

a detailed plan that is appropriate to be presented to potential investors and financial institutions
clearly explains how investments are and will continue to be used
creates jobs
and more!

This it’s all about being official? NO.

BBP remains USCIS compliant while also seeing your business plan through the eyes of a visionary.

In-Depth Market Profiling

Extensive research is done in your market in order to create an EB-5 business plan that ensures your ability to compete effectively. Your market analysis will include:

Market size
needs
location
segmentation
targeted demographics

BBP aims to answer everything an investor would need to know about your market so that they can assist in making your business an authority.

Operations Analysis

The very beginning of your business plan includes the executive summary and operations analysis. This is a very clear and concise yet brief summary of your business and how it functions. Finally, this is the chance to really show off well-studied operational systems while aiming to identify opportunities for improvement. BBP can equip you with that answers that many investors seek in this portion of the business plan. Including:

SWOT analysis
milestones
management

Complete Financials

Investors don’t only talk numbers. But, when they do, you’ll want an EB-5 business plan that’s prepared with the following:

Balance sheet
Financial indicators
Income statement
Revenue forecast
Cash flow statement
and more.

If you want the best, work with the best. Contact Business Bargain Plans now for your consultation.

Rebranding shouldn’t happen often. Maybe once or twice in a brand’s lifespan. But, when it does happen, it should be subtle yet impactful. Here’s how to pull off a re-brand.

Re-Brand Business Plan

Sometimes, rebranding is the result of new ownership or a change in partnership, mergers and other acquisitions. This requires hitting the business plan and seeing what stays and what goes. Beydon a change in color palette or logo, a rebranding that happens under these circumstances often requires an entirely new business plan.

Outsource

Other reasons rebranding is the right move, is when something just isn’t working. The vision is off, the marketing isn’t targetted appropriately, or it may be time for a repositioning. Whatever it is that has you feeling like it’s time for a new angle, call in the professionals.

Outsourcing your needs to those who are skilled and experienced will help you reach goals sooner. You can’t possibly do it all yourself or even within your business. Outsourcing what you do not know how to do is the key to efficiency in business.

Make Sure You Can Afford the Change

Don’t know exactly where to start with your re-brand business plan?

Start with cash. When in doubt, check your bank account.

There are a thousand one-liners to keep in your back pocket to remind you to spend wisely on your re-branding. It’s not so fun having a shiny new logo and no capital left. Create a budget and stick to it.

Refine Your Brand Identity

It’s important to recognize what it is you’re shifting between the original and the re-brand. And, why you’re not with others. Change is good, but too much can cost you your business.

Unsure of what your new brand needs? We can help set up a business plan to weed through the how’s and who’s. Call or email today for a free consultation.

The number one reason online businesses fail is due to a failed e-commerce business plan. Unfortunately, that isn’t the only reason. Take note to avoid the following pitfalls.

No Niche

What are some of your favorite food?

Milk Chocolate?
Avocado toast?
A New York slice?

Sure, these are all delicious, but if you used them to create a single dish–gross! Is it lunch? Dessert? A mistake? The same thing happens when you try to mesh all of your favorite things and turn it into a business. It can come off scattered, impossible to pin a target audience and make it nearly impossible to develop brand loyalty.

Your SMM is a Joke

Your online presence is everything. In this age, that means mastering social media. Once you nail down who your target audience is, you’ll get a feel for which platform to best reach them. Social media is the key to engaging your audience and turning them into returning customers.

Your Business Plan is ALL Over the Place

Save the fluff. Every word in your e-commerce business plan should serve a purpose. Bargain Business Plan works endlessly to refine e-commerce business plans to reflect the needs of investors, potential partners and employees, as well as guide the business to success. Use your e-commerce business plan to address all these potential pain points.

Lacking SEO

Search engine optimization sounds scary but you really don’t have to be a tech nerd to figure it out. There are plenty of tools that make it easy and automatic. But, if you’re not feeding the google bots, your traffic won’t receive the traffic it needs to survive.

Don’t Forget to Hustle

On the opposite end of the spectrum, some online businesses follow their e-commerce business plan, master social media marketing, and hire an SEO expert. But, fast success can end quickly and abruptly. The sooner they come the sooner they’ll leave. So, never stop hustling to keep your brand followers. Keep creating new and exciting products and content. And, continue to update and refine your goals, especially your business plan.

Bargain Business Plans takes the future of your business very seriously. As we explore the needs of over 800 markets, we are still shocked to see startups, ma & pop shops, small business owners, and entrepreneurs with no idea how important a business plan is. Not just important, but beneficial through the lifetime of your business. But, we don’t do it alone. As a business owner, it’s up to you to make most of your business plan. Here are a few ways we share when skeptics ask how to use a business plan.

Reel in Investors

So many businesses give up entirely on the concept of investors. “It’s too hard” or even “my business isn’t good enough”. Both of these may have an element of reality to them, but overall, no. There are risks and benefits in many aspects of business, but if you neglect to have a business plan, you’re not even trying to get investors to notice.

How to use a business plan regarding investments is by creating an executive statement that addresses the need that you are solving. Don’t obsess on numbers, or being unique, or even being the first in your market. Chances are, you’re not. But, you may very well provide what people need and that is what investors specialize in.

Prepare for Pressure Points

It’s incredible to see how minor tweaks made in how something is done can have a monumental impact on the result. Use your business plan to identify where things can be achieved at a better cost or more efficiently. It’s nearly impossible to address all potential possibilities without laying it out in a business plan.

Plan Your Prospects

Take the guesswork out of potential partners and employees. Affecting hiring starts with knowing exactly what you’re looking for. A business plan aligns your vision and values. You want all potential prospect to do the same. Save time on interviews and land the perfect employees and partners by defining exactly what it is your business needs now and later.

Plan for Failure

We don’t want to admit it, but failure is an entirely possible outcome to starting a business. It happens. But, it doesn’t have to end tragically. Don’t lose your house and life savings with a sinking ship. Use your exit strategy to count your loses without losing everything.

Owning and operating a business is never easy. Even with unlimited funding and the best employees, there are things that happen that are challenging to anticipate. When it comes time for a weekly, monthly, or quarterly check-in, there are 5 signs to seek when determining if your business is profitable. So, is it time to expand? Measure your business growth capability against the following.

Sales

A very obvious and telling sign of business growth and health are your sales. Now, sales won’t give an entire picture but they do provide a strong idea of how customers are responding to your products and services. There should be several opportunities to provide a sale. Don’t put all your eggs in one basket. Unless of course that basked is e-commerce.

Refined Business Plan

Business growth cannot happen without a business plan that anticipates it. Business success should not be a surprise. Creating solutions and strategy will be the framework of your business plan. Also, don’t be afraid to return to your business plan to modify and adjust.

Happy Employees

Happy employees are a great sign that things are going well in your business. A lot like the human body, internal health is vital for the longevity of the business.

Satisfied Customers

Having the best business plan and sales will only last so long if your customers aren’t satisfied. Customer satisfaction ranges beyond product to service, outreach, deal, and more. Regularly give your customers the opportunity to provide feedback. They have a way of helping you improve areas you may not even know exists.

Expansion Planning

With a profitable business comes growth. If you find yourself leaning towards expansion, you may be recognizing your business’ health. Congratulations! Make sure your expansion plans are supported by the previous signs of a profitable business.

It’s the most defeated an entrepreneur can feel. A failed business isn’t the end of the road if you’re a true business person, but it is a time for many lessons and in-depth reflection. Here are a few of the most significant thing you can learn from others who did the hard way.

Refine Your Business Plan

A few business savants have pulled it off, but planning as you go is not the way of the business world unless you are prepared for a failed venture. Those who lacked direction ran into many unanticipated pitfalls.

Create the perfect business plan that addresses needs and projects not only success but how to get there. Nonetheless, your business plan should be updated regularly. This is a positive sign for expansion and growth. The market changes regularly so, keep your business planning strategy just as flexible.

Funding Done Right

How you receive your funding should be an important part of your business planning. But when you seek funding has everything to do with your business success. Start early, have a strategic number you ask for (don’t just take whatever is handed to you), and be picky about on who you choose as an investor.

Read the Fine Print

On every contract, every investment, on EVERYTHING–read the fine print. Better yet, don’t sign anything until your lawyer has gone over it several times with you. Many small business owners jump the gun at the sound of a good deal. Take it slow and seek counsel before you get blindsided by the fine print.

Is the Market Ready?

It is possible for your business ideas to be too good or too progressive. If your products or services don’t leverage enough social proof in the early stages, it may be because the market isn’t ready. Refine your business and enter the market at the perfect time.

For many companies creating a successful franchise is the dream. But, achieving this dream is only half the battle. Maintaining and growing your business franchise can be a challenge. However, the reward for getting it right is always worth it.

🔑Franchise Business Plan

The only place to start is with a franchise business plan. Finding investors, understandings your market, and identifying pain points are just a few vital things that need to be addressed in your franchise business plan. The difference between a franchise business plan and a a regular small business plan is in the expertise and experience. BBP’s business plan writers take your business growth seriously. By providing in-depth research into your competitors, locations, and niche they are able to customize the ideal plan.

🔑Funding

Part of creating an effective franchise business plan is making it appealing and informative to the right investors. This is done by really nailing your brand message and having a franchise business plan that is jam-packed with information. Showing you know your market is the most important thing to an investor. Other financing options include getting funds from the franchisor, SBA loans, or finance companies.

🔑Anticipate Pitfalls

In order to keep your results from falling short of your expectations, expect a challenge. Growing your brand from a small business to regional, national, and potentially international is no easy feat. But, take a look around at the brands you use, wear, and keep in your household-it can be done. Anticipating your business struggles and challenges before they happen can save you from disaster and set you up to become an authority. Anticipate pitfalls by:

Communicating effectively
Consider hypotheticals
Test thoroughly
Track progress
Create new solutions regularly

🔑Location

You can have all the funding in the world, but if you place your franchise in the wrong location, you can kiss your sales goodbye. Choosing your franchise location has to make sense. You won’t see a winter tire shop in central Florida. While that’s a more obvious example, it represents the need to know where your target audience goes for their needs, why they go there, and when. Study your shopper before you choose your real estate.

Since the dawn of Darwinism, we have been sizing up our competition. To best navigate our own resources and survival, we see what those before us and around us do. Then, we have more confidence and information to create the ideal move. In business planning and development, competitor analysis is an invaluable tool for success. Here are 4 Bargain Business Plan tips to effective competitor analysis

What is Competitor Analysis & is it Important?

The power of a competitor or market analysis holds is in how it’s used. When done correctly, the information obtained from thorough market research helps your business discover weaknesses and opportunities. Here’s what to include in your business planning to get a head start on becoming an authority in your field.

Know Your Market

Even if you think you know all there is to your market, insight into your competitors will shine a new light. Understanding the direction of your market is a benefit to and the first step of your competitor analysis. Information to gather includes:

Estimate market value
Research surveys and questionnaires
Hire a professional market analyst

Target Audience Insight

Find out exactly who your competitors are. But, before you obsess over their approach, put your energy to their audience. They are your target, while your competitors are just a means. Discover how they respond to your competitor’s offers. What works? What doesn’t? Learning from your competitor’s mistakes saves you time and money.

S.W.O.T

S.W.O.T is the most important takeaway from this brief endeavor. It is used by the experts at Business Bargain Plans, but it can be applied to all parts of business planning and competitor analysis. Here is what to consider when reviewing your market research:

S- Strengths: Identify your competitor’s strengths to understand their impact

W-Weaknesses: Minimise weaknesses in the market’s approach.

O-Opportunity: Seizes opportunities with a creative USP.

T- Threats: Counteract threats using strategic planning against external factors.

You don’t have to be a pro to gather information on your competitors. But, if you want to make the biggest impact possible, BBP includes market research in their customized business plans. Get yours, today!

The Biz