tailieunhanh - Business Plans Kit For Dummies 2nd editon - Chapter 16

Part V The Part of Tens In this part . . . This final part sends you off with five super-quick chapters that you can turn to for at-a-glance advice now and in your business future. Want to know ten signs that your business plan needs an overhaul? | H DD Part V The Part of Tens H ii In this part. his final part sends you off with five super-quick chapters that you can turn to for at-a-glance advice now and in your business future. Want to know ten signs that your business plan needs an overhaul Turn to Chapter 16. Need ten ways to test the validity of a new business idea Go straight to Chapter 17. If you re in search of funding Chapter 18 outlines ten places to turn along with pluses and minuses for each funding source. And if you decide to knock on venture capitalists doors Chapter 19 lists ten things to know before you make your case. Finally Chapter 20 sums up why your business plan is worth its weight in gold now and into what I hope is your long and lucrative business future. Go put your plan to work and enjoy success H ii Chapter 16 Ten Signs That Your Plan Might Need an Overhaul In This Chapter Recognizing the red flags Revising your plan to reflect new business realities iving your business plan a good once-over one time a year may not be often enough. An annual review is a fine schedule under most circumstances but if your business environment is experiencing choppy conditions or if you re facing major threats or opportunities your plan should be the first place you turn. Chapter 11 offers help for companies in trouble the first step is to see and recognize the warning signs. Here are 10 red flags to watch for as you monitor your business situation. Costs Rise Revenues Fall The clearest sign of business trouble is that costs are going up and revenues are going down yet many business owners ignore the warning. Why Because these situations don t usually go wrong overnight. Costs creep upward while revenues drift downward and too many business owners don t see what s happening because they don t watch or maybe don t know how to watch their financial margins. The antidote Study your financials especially keeping an eye on Gross profit trends to see whether your costs of goods sold are slowly climbing out