eb 2 niw business plan experts

eb 2 niw business plan experts

Emerging Trends in New Business Plan Strategies

1. Introduction to the Evolving Landscape of Business Plans

It is probably safe to say that ten years ago – mainly due to the burgeoning interest in formal small business programs at the graduate and undergraduate levels – business plans were very much in vogue. The message from venture capitalists regarding the utility of a business plan in a venture was authoritatively clear. “No plan, no money” was the simple catchphrase. Fast forward to today. There has been a significant change in the way that firms are seeking to grow, obtain financial capital, and satisfy the needs of their founders. Numerous market forces are now in play that were not as prevalent (or visible) to such an extent ten years ago. Due to such myriad changes, many firms are implementing new strategies seeking to obtain their ultimate agendas, and many are eschewing the completed business plan to “get the job done.” Furthermore, it is possible to identify patterns that are becoming clear in terms of the types of firms jettisoning the traditional business plan.

It is this that represents the focus of our paper. To this end, we base our general findings on a limited number of follow-up interviews specifically targeting professionals within the venture capital, business school, consultancy, and entrepreneurial communities. Additionally, many informal discussions prior to, during, and after these interviews with entrepreneurs desiring financing were conducted. Background information about the entrepreneurs presented within the paper is composed of a small number of primarily alumni from a single business program. This is used illustratively. The focus of venture capitalists with regard to an emerging trend is similarly highlighted in concert with data that serve as examples. Then, conclusions are drawn with regard to emerging trends – trends that may be very important to entrepreneurs and venture capitalists as well as potentially for formal business plan educational curricula. This may be one of the few studies that focus on this business document’s recipient rather than the dreaded author.

2. Innovative Approaches to Market Research and Analysis

The new business plan environment demands not merely improving existing analysis, but in some cases starting anew in recognizing new environmental trends and developing entirely different business strategies. Some factors are long-term, while others are fleeting. Nevertheless, five trends have produced some strategies that are becoming increasingly important. These are: (1) expanded use of strategic business analysis; (2) flexible use of marketing research techniques; (3) growth of commercial feasibility analysis beyond standard measures; (4) changes in investment requirements and the sources of financing; and (5) acceptance of new corporate objectives that increasingly emphasize social and ethical goals as well as economic ones. These trends indicate the growing importance of business planning. The use of such techniques and applications to industry and government planning is undoubtedly beneficial beyond specific business uses.

Once the focus of strategic decision making is defined, tools of market research can be more effectively applied. These tools are valuable assets in making decisions about the long term as well as short-range necessities. Who is the customer? Who could be the customer? What functional area is the plan designed to fill? What alternatives are open to the company? All of these, and others such as how to penetrate the market or how to maintain a high cost or technological niche, are critical issues to business strategies, and market research provides valuable guidance in their formulation as well as in a systematic program for implementation. Moreover, its value is further increased since reducing uncertainty increases both overall profits and avoids the negative costs of failure. The best-organized techniques and management approaches to marketing research question the most fundamental assumptions of the strategic business analysis. With the making of company policy based on both market research findings and business model possibilities, many marketing concerns could be substantially altered to provide guests with a shared potential in a unified company plan.

3. Utilizing Technology and Digital Tools for Business Planning

Harnessing the power of digital tools, the internet, and technology can be advantageous in enabling small and medium-sized enterprises to compete more effectively and innovate. Referring to technologies and the internet, they help businesses to carry out activities that previously were only available to large companies due to their high costs of implementation. This section of the chapter focuses on how small and medium-sized enterprises can effectively use the web, technology, and digital tools in the start-up, development, and growth of these firms.

(Business, e, or Internet-plan software; Business planner computers; Business plan handheld systems; Business or Internet-planning kiosk) – New innovative digital tools are being created to help entrepreneurs develop their business plans. The devices also facilitate the use of these tools. The enhanced devices are faster and provide portable assistance. Such devices could be used as a refreshment source for companies that have prepared a business plan in the past and are seeking renewal of the corporate blueprint. These devices could also be used for a start-up business that may not have the technical resources or experience to write a business plan.

4. Sustainability and Social Responsibility in Modern Business Plans

Sustainable business practices have become the norm rather than the exception for modern small and medium enterprises, and this awareness is represented in an increasing number of small business plans. Sustainable practices can manifest as organic health food stores and restaurants, online green retail stores, Philippines eco-hotels, or foreign adventure travel services. But just as those business plans that do not consider environmental operations are likely to turn off today’s perennially plugged-in, increasingly environmentally aware, and sophisticated consumer base, an old-fashioned business plan company will find it difficult to retain employees were it not for consideration of the impact of a company’s activities on the planet and its inhabitants. If the company does not adopt sustainable practices, investors and banks are likely to be responsible for loaning the money, making it difficult for the company to gain enough capital to get a competitive start. The costs associated with antiquated thoughts about business will eventually doom all old-fashioned business plans and products.

5. Conclusion: Key Takeaways and Future Directions

We identified a number of emerging business trends that have the potential to revolutionize our understanding of these topics. These are liquidity management in the banking system, contracts relative to small depositors, and the discretion of deposit interest rates within a banker’s charter. We also note a trend towards reliance on perspective changes of researcher framework. We see a trend that incorporates prudential and monetary policy within asymmetric information models, and a trend that is liberal in the model-building tradition, and notes that supply prediction via contracts is also a lending strategy that optimizes bank revenue. Using it, the paper derives reaction bank lending functions of investment firms that depend on the aggregate activity of banking investment by the social welfare maximizing investment strategy.

We closed this survey of the subset of recent work which has identified a range of important issues and has successfully addressed each of them to some degree. However, there remain additional open issues regarding liquidity risk, competitive forces in banking, regulation to achieve social objectives, asymmetric information, policy trade-offs between monetary operations and effective prudential supervision, and the causes and consequences of banking and financial integration. We regard the above research as a first valuable step, but we urge researchers to attack the unsolved, but important, many important issues. Then as now, there remain large pressures on banks resulting from increased competition (including the new foreign competition), deregulation, technological advances, and relative to the goals of the last several years, macroeconomic policy.