Click on the four-step diagram above to find out more about our formation process. HEG is an international educational consultancy providing solutions for private K schools, colleges, businesses and non-profits internationally, with a reputation for the highest quality of work catering to the needs of the private education market. We work with school and business owners and buyers globally regarding the start-up, operation, management, and sale of private schools.
However, the information within it can be used by any person who is looking to develop a business plan for their start-up. Most consultants and business experts recommend that you develop a business plan as part of the process of starting a company.
To put it bluntly, I disagree.
Am I against business plans? I am certainly not against the concept of developing a well-thought-out business plan. They certainly can be pretty useful. Buying a business book, or a few templates, and filling in the blanks does not make a business plan. Thoughtful research The business plan is a tool to help you think through the process of starting and running your business.
It should be used as a tool to help you — the college entrepreneur — figure out if going into a business is worth it. Let me emphasize this point: The process of writing a business plan is fairly straightforward, per se.
Spend your time thinking about your business. Spend a lot of of time trying to think of the problems that you will run into — as well as possible solutions.
Remember, you need to spend a lot of time thinking and researching. Nothing can replace that. If you are still in college, this is a good time to start talking to your professors and getting their input.
Likewise, you should also go the library to do your research.
Libraries are a great source of hard data and reliable numbers. In my opinion, a good business plan should answer these questions: What is your concept?
Why is your concept better that what is out there in the market? What is the size of the opportunity? How will you get there? Who will execute this plan?
Any well-thought-out plan is a million times more impressive than a lousy plan written in a pretty document. Sounds obvious, I know, but most entrepreneurs make this mistake. Having said that, if you have to show your plan to investors you will need to make it look presentable.
But there is no need to go overboard. Savvy investors are impressed by ideas, opportunities, original research, and facts — not by a pretty document. Most of all, savvy investors are impressed when they see a plan that clearly articulates how the business will make them money. To present your plan to investors, you should develop a compelling pitch deck.
Be careful with the financial statements One of the most common mistakes that I see with business plans is overly optimistic financial statements. Usually, the revenues are exaggerated while the expenses are grossly underestimated.
You should develop your financial statements carefully and conservatively. Avoid filling out the standard financial templates with useless guesses.
Investors will see right through that in a second. First, work with someone who knows finance and business. Then develop reasonable financial statements. Keep in mind that professional investors know that the financial statements in a plan seldom work out as expected.
Most consider them a work of fiction.Business Plans are released yearly, and review the Niagara College budget and business objectives. Business Plans are released yearly, and review the Niagara College budget and business objectives.
Business Plan. Business Plans are released yearly, and review the Niagara College budget and business objectives.
Business Plan. The Tutoring Business is pleased to present Starting a Tutoring Business: Seven Important Lessons By Tony Aitken, President The Wealthy Tutor, Specializing in Tutoring Business . College of the Canyons is becoming a leader in the field of online student learning. would create a timeline in order to set a realistic start -up plan.
The start-up costs -up costs would involve labor and product development; these costs are detailed in the Cost Analysis section of this Business Plan. 4 Products & Services Top Benefits. We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business.
A good business plan and/or application to your State’s Postsecondary Approval Agency can be seen as a using a development process. The point of using a development process is to succeed at “product development” or in this case establishing a degree granting institution.
Starting your private school with an experienced team is always a good start. Download HEG’s FREE Four eBook series on private school start-ups. Ours private school consulting services will help you buying and selling schools.