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Sales rank 824,809
Customers rating (based on 26 reviews)
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Bankable Business Plans reveals the secret of creating a compelling and successful business plan for anyone who ever dreamed of starting or expanding an enterprise. This invaluable book guides readers through a comprehensive, step-by-step process to produce a professional-quality business plan that will attract the financial backing entrepreneurs need. Bankable Business Plans is the only book on the market that demonstrates how to make each business plan uniquely suited to every endeavor. It is also the only book which explains how to employ the guidelines that banks, venture capital firms and the Small Business Administration use to grant loans and other financial support to businesses. By describing how to apply the relatively unknown, but easily available Risk Management Association data to each business concept, author Edward Rogoff provides a virtual answer key to anyone seeking financial support for a business idea. Rogoff’s years of experience in both founding and improving startup and established companies, as well as teaching entrepreneurship to college graduate and undergraduate students, enables him to delineate the elements that make a business plan attractive to investors and lenders. Bankable Business Plans is essential for anyone interested in opening a business, expanding an existing enterprise, or simply testing the financial reality of a dream.
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| Publisher | Texere | | Release date | 10/2003 | | Availability | | | Edition | Hardcover |
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A must read for people interested in starting a business
This book is a must have for people starting a business. I haven't entered ANY business venture without first consulting with this book. I also had the wonderful opportunity to learn with Ed Rogoff himself, he is a very knowledgeable, straight-forward man, and his book is 100% reflective of his real life traits and experience. Great Job Ed!
Elkin
Financial projections in a business plan are important - they should be meticulous!
Chapter 10 in this book opened my eyes to a publication produced each year by the Risk Management Association (RMA). It's called the "Annual Statement Studies - Financial Ratio Benchmarks" and is a compilation of information supplied by member banking institutions that get their information from small business loan applicants. The author of Bankable BPs says a sound business plan must favorably compare to the information in the RMA publication, or it probably will not help the loan applicant get her funds.
I recommend after reading Bankable BPs that anyone creating a business plan will do themselves a favor by examining the RMA publication to use as a guide for creating meticulous financial projections included in their business plan. Don't write the business plan first, and then compare it to the RMA publication figures. Instead start with the figures and then write the business plan.
Another similar (but not as good) publication you might want to look at is called "Financial Studies of Small Business" written by Financial Research Associates.
Besides the impressive information contained in Chapter 10 of Bankable BPs, I thought the book was a great read on the subject of putting together a business plan. The author is an associate professor at one of the CUNY schools in New York. I would have liked the book better if he had not emphasized that a business plan was a tool to help raise capital. But he does point out that a business plan is an important tool for running a small business, too.
The author listed 10 action steps necessary to create a business plan:
1. Define the business
2. Figure out initial needs
3. Outline how the business expects to make money (business model)
4. Perform market research (study industry, competitors, and potential customers)
5. Write a marketing plan
6. Describe sales effort as it relates to marketing
7. Systematize operations & team building
8. Decide on capital requirements
9. Put together pro forma financials
10. Write the business plan in an acceptable format
I'm pretty sure the author felt the action steps were meant to be done in the above order. I tend to agree with the list of action steps, but not the particular order. I think #8 and #2 should be sequenced just after #9. I find it hard to believe it is possible to decide on capital resources BEFORE you have figured out the pro forma financials. And, without knowing the capital resources needed, it seems to me it is hard to determine what the initial needs of the business will be.
All in all, this was a very informative books and I am sure it will be a very helpful book to anyone who has to put together a business plan. 5 stars!
You can bank on this book
This book is terrific because it directly addresses the issue that probably undermines more business plans than any other: unrealistic assumptions. After 20 years as a banker and financial advisor to growth companies, both large and small, I believe that professional equity investors judge entrepreneurs by their ideas, their ability, and the reasonableness of their assumptions. Aggressive business plan assumptions raise significant doubts in the minds of investors, who don't just want 25% IRRs but want 25% IRRs that are achievable. Rogoff wisely advises entrepreneurs to ground their plans in reality, using solid industry data and benchmarking techniques. He teaches you to think like an investor or banker before writing your plan. Very solid advice. A must-read before going to market with your plan.
 A Must for Business Owners
Ed Rogoff has written a must buy for those planning on starting or expanding their business. He takes you through a step-by-step plan from your initial idea to your grand opening. Examples, forms and common pitfalls are all covered in an easy to follow system. If you want to make your dream a reality, "Bankable Business Plans" will get you started.
Must for Business Owners
Ed Rogoff gives an in depth but workable plan for developing a new business. "Bankable Business Plans" gives you what you need to go from your initial idea to your financial source. Examples, forms and step-by-step instructions are included in this comprehensive book. This book is a must for business owners of any size business.
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