If Your E2 Business Plan Changed During COVID, Your E-2 Visa Renewal May Still Be OK. Here’s Why.

It seems as if the pandemic has affected every part of our lives. Even something as simple as grocery shopping took a hit. Remember when we couldn’t find butter and toilet paper? Life here in the US is slowly feeling more “normal” — more vaccinations, fewer masks, less physical distance between us and our friends, family and colleagues — but we’re not yet fully back to business as usual. Because of this, many E2 Business Plan with E-2 visa renewals coming up right now are feeling understandably anxious. Because of COVID-19, these businesses have not performed as expected, which means they didn’t meet the financial or hiring projections they originally expected, had to pivot or change their business model, or otherwise fell short of the goals outlined in their last E-2 visa application. Our team of experienced consultants, project managers, and writers are here to help you – or your clients – produce convincing, succinct documents that give your business or investor immigration case an edge. We’ve written over 5,000 business plans for immigration and commercial purposes. In other words, we know a thing or two.

Read More If Your E2 Business Plan Changed During COVID, Your E-2 Visa Renewal May Still Be OK. Here’s Why.

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Why Professional Business Plan Writers Refuse to Write Business Plans Without Conducting Market Research

Business plans are not compulsory, but they are surely useful when trying to get a loan or for helping you organize and structure your business operations. So what is exactly necessary for writing an outstanding business plan? Well, Professional Business Plan Writers can tell you that the first and most basic thing for writing a good business plan is collecting all the necessary data and information. It is usually gathered from your company's history in sales, its previous costs and expenses, but a lot of useful information can be obtained through market research.

There is just not much to go on without an in-depth knowledge about the market. That is why experts do not write business plans without understanding the market’s needs first. Some of them will expect their clients to do their own research, but others will conduct it themselves as part of their fee.

Either way, there is a good reason why professional business plan writers need Market Research before they begin to write business plans. It helps answer a few burning questions, such as:

Is there a market for your product?

It is ill-advised to go blindly into business without testing the market first. Doing market research beforehand will greatly help reduce risk for failure. For a company to succeed there needs to be a demand in the market for its products and services. Research conducted through surveys and product testing will determine the likelihood of your product’s success with the potential customers. Professional Business Plan Writers cannot write business plans without knowing a company's target audience and its size.

Is the price right?

It is not enough to know if the customers are willing to buy your product, but also how much they are willing to pay for it. Knowing the value of your product on the market will help you set the appropriate price for it. Overpricing can result in lower sales. Additionally, having a good understanding of the market means knowing your competition as well. Properly pricing your products will help you better compete on the market.

Additionally, Market Research can help professional business plan writers compose documents, like financial projections for example. Determining the price can be used to calculate future revenue and predict business’s profit margin.

Is there a need for improvement?

Keeping an eye on the most current market shifts and adjusting your products and pricing accordingly is crucial for writing successful business plans. Because the market is fast changing, you will need to keep up with those changes in order to stay in business. Regular market research is necessary for the most up-to-date information. professional business plan writers need to know the latest market changes to be able to modify and adapt your business plan to the latest industry trends. This helps the experts write a business plan that will help you outperform your competitors.

Without market research there is just not enough data for writing a well-structured and successful business plan. This is why many Professional Business Plan Writers hesitate to write business plans without researching the market first. By doing so, they can collect all the crucial data that is fundamental for most sections included in a business plan.

4 Tips for the Financial Projections in the Business Plan or Information Memorandum

Financial Projections Business Plan have an extremely important function in business’s operations, but also serve as an integral part in information memorandums too. They present a series of assumptions that translate into a potential financial outcome of a business. Therefore, it is crucial for them to be as accurate as possible.

Financial projection’s objective

Financial projections in a business plan hold a key role in helping business’s make decisions affecting its internal or external organisation, plan projects or to gain investments or funding.

Whether it is for a big corporation or a startup, a business plan is an essential document that serves many purposes. It represents a backbone and a clear path for business to follow, but it can also be extremely beneficial for obtaining fundings or loans. Financial projections in a business plan can show that a business has potential for growth and that it has prospects for steady (or increased) revenue.

Financial projections are intended not only for business plans but for Information Memorandums too. Their purpose is to be presented in a merger or acquisition process. These documents are meant to give potential buyers a general overview of a company and its odds for success. So here is exactly where financial projections come in handy.

What to take into account

Any component of a business plan or information memorandum should be well thought through and detailed, one of them being financial projections or forecasts. Financial projections in a business plan predict a company’s future revenue by taking into account business’s financial history, market research and other factors that can contribute or affect a business' profit margin.

That is why having the most accurate and precise Financial Projections Business Plan is one of the things that can make or break a good business plan or information memorandum.

• Gather your numbers and leave no stone unturned

Financial projections in a business plan heavily rely on assumptions, therefore taking all the busines’s aspects into consideration and including them in the forecast will help increase their accuracy. Anything from the company's financial history, all of the previous costs and expenses should be included.

• Be your own worst critic

It might sound like a nightmare, but second guessing and double checking everything proves to be beneficial for making the most accurate predictions. Making sure that every financial aspect and variable is included and exact, and all the assumptions accounted for, helps to create more precise financial forecasts.

• Do not cherry-pick numbers

While the goal of a business plan and Information Memorandum may be to impress its audience, it is important to to include the bad numbers along with the good. Using company's downfalls as a variable in composing financial projections prevents misleading investors or buyers, and consequently helps to avoid any potential lawsuits or fines further down the line.

• Market research is your friend

Market research is a great tool when composing business plans and especially financial projections. They are a great source of information that can help predict a product's success with the customers and therefore future revenue as well.

Financial projections can show potential investors or buyers what is in store for the business in question.

So, taking necessary steps to make the most accurate financial projections is a sure way for writing a successful business plan or information memorandum. If in doubt, consult a Professional Business Plan Writer who can help you craft these!

4 Reasons You Need Professional Business Plan Writers for Your Business Plan

Being an entrepreneur is very exciting, but yet, it can be stressful too. Today, many open-minded people try their luck by switching their 9 to 5 jobs to entrepreneurial life. Whether starting a fast-food chain business or a local fruit shop, you need a business plan. A business plan is a written document that describes how a business defines its objectives and achieves goals. A person writing a business plan should use their creativity, experience, and a little bit of imagination if they want the business plan to be effective. And who could write a better business plan than Professional Business Plan Writers?

Here are 4 main reasons to use one:

Speed

A professional business plan writer knows that it is essential to compose business plans quickly. Time is money, and no business owner is that rich to waste his precious time on composing a business plan. The professional Business Plan Writers are dedicated to their work and not distracted by any day-to-day obligations that a business owner may have. This way, by delegating a business plan to a professional writer, you will have more time and energy for different business operations.

Professionalism

Let’s make it clear – anybody can write words on a piece of paper, sentences, paragraphs, add numbers and create a business plan. But it takes a great set of skills, experience, and research to compose a successful Business Plan. Professional business plan writers have background knowledge in market research, finance, marketing strategy, and sales techniques. It is hard to find the right people with the right skills and experience to write a successful business plan. Search no more, because Joorney (www.joorney.com) experts will make a professional business plan in no time.

Meticulousness

An expert has an eye for detail and will never miss out on anything. They will make sure that your business plan contains the most important information and clever ideas for the future. Professional Business Plan Writers are very careful, precise, and realistic with the future business forecast and the information about your company. If you want, for example, to point out a slight financial setback from a year ago, you can freely do it, and the professional business writers will make sure to include it in great detail.

Objectiveness

We all know that your business is your baby. You cannot be objective when it comes to your baby, I mean business. That is why having professional business plan writers is crucial. A professional will take their time in learning about your brand and company. They will look through the existing plans of the company and figure out how to overcome different obstacles on the way. What is most important - they will see your business objectively. But, you, as a business owner, need to be included in this process. Your job is to be present and provide business plan writers with adequate information. It is vital to always be available to the Professional Business Plan Writers to create a successful business plan.

If you are interested in creating a professional business plan, feel free to contact us (https://www.joorney.com/contact-us/) or visit www.jorneey.com

4 Ways Market Research Informs Financial Modeling

 

Your business’s financial history is the most obvious source of numbers for Financial Modeling. Looking into previous sales and expenses your company had in the past is a great way for calculating and predicting future revenue. But consider doing Market Research in order to get the most accurate forecasts. It can provide important information and data which can later be used for changing variables in your model, and calculating the most precise financial outcome for your business.

1. Determining market size

Having a good understanding of the market is a good starting point for making your business decisions. Knowing how much interest or need there is for your product can greatly impact your business finances. For example, it can determine production rates and therefore greatly affect revenue. This type of data gathered from market research can be processed through financial modeling to examine how much market size can influence future production and earnings.

2. Setting the price straight

Correctly pricing an item increases the likelihood of it being sold. And this is how market research comes into play. It can give you an idea of how much the customers value your products, or to be more precise, how much they are willing to pay for them. This way you will be able to set an exact price for your products, and calculate your future earnings. The price you decide can be used in Financial Modeling to predict your business’s exact profit margin.

3. Following the trends

Because the market is fast changing, companies that do not stay on top of those changes do not remain relevant. They will slowly fade and disappear. To avoid this, companies do regular market research to be able to follow its trends and demands.

Conducting this systematic research detects markets' imminent shifts and changes. Collected data can be later used to determine what business decisions need to be made in order to be able to beat the competition. Therefore, changes in the market can affect the variables in financial modeling and produce different financial forecasts.

4. Testing new products

If you are in the process of upgrading your products and services to follow market trends, you will certainly want to know if you're going in the right direction. Any changes you make to your merchandise can be either a great success with the customers, or an absolute detriment to your business. That is why Market Research can help analyse the public's opinion of the new and improved product, which can later be used for financial modeling. Different models can be created depending on the product's effectiveness on the market, and consequently drive product’s development.

Market research is a great source of information for your business. The data collected from it can serve many purposes. But the bottom line is that it is an integral part of the decision making process in any business. It provides important information that can change variables in financial modeling and provide many potential outcomes. Therefore, it shows all the possible directions your business can take, and is extremely useful when trying to plan your business’ operations or estimate its Financial Projections.

8 Tips that Apply to a Pitch Deck or Information Memorandum

Writing any business documents can be a daunting task. The sheer amount of work that goes into writing them may seem distressing, but it doesn't have to be that way. There are a few helpful tips that will make your Pitch Deck or Information Memorandum a bit easier to prepare.

1. What is it their purpose? Who are they for?

First things first, why do you need these documents? The purpose of your documents determines who will be reading them and what exactly will be included in them, or at the very least, what kind of information you should prioritize. Your business documents will be shaped by your reader's interests, whether they are an investor or loan officer.

2. Do the market research

Market Research is an integral part of any business plan, but they are very important for information memorandums and pitch decks too. They show the potential success a product or service may have with customers, and can demonstrate to buyers or investors just how valuable your business is in the market.

3. Support your claims with numbers

Your readers will not appreciate bold, unsubstantiated claims. They are not interested in listening to fairy tales but want to hear facts and see results. And the best way to do that is by gathering your numbers from your financial history or research, as mentioned above.

4. Include financial projections

Financial projections predict future revenue through financial modeling. By gathering numbers from your business’s financial history, a forecast can be made to determine all of the potential financial trajectories a business can take. Your audience will want to know where your business is going and if it is going to be a success.

5. Honesty is the best policy

Pitch decks and Information Memorandums may seem like advertisements for your business, but they are most definitely not. Sure, they are used to promote your business, but many make the mistake of only showing the positive side of their company. Your investors or buyers will want to know the full story to be able to make an informed decision. So do not hide unfavorable or damning data. Instead, be sure to mention it and provide solutions.

6. Think about the format

Because pitch decks are short presentations of your business, averaging about 15 slides (or less), they should not be overwhelmed with details. That is a sure way to lose your audience's attention. Therefore, the information included in them needs to be carefully selected.

On the other hand, information memorandums are detailed descriptions of your business, and therefore can be lengthy documents. They can range from 30 to 50 pages, depending on the size of your company.

7. Layout and visual appeal.

It goes without saying that pitch decks need to be informative as well as aesthetically pleasing. Your slides should not be difficult to follow because they’re oversaturated with text. So make bullet points, get to the point, and include graphs. Similarly, your information memorandum should be clear and easy to read.

8. When in doubt, ask the professionals for help

It is no wonder business documents are difficult to write. But you don’t have to do it alone. There are plenty of Professional Business Plan Writers, who have plenty of experience in writing these types of documents. A good piece of advice is to turn to them for help.

If you consider all of these tips, or at least some of them, writing business documents will be a breeze. Knowing how to approach them is half the battle and can save you a lot of trouble. Therefore, keep these tips in mind, they will come in handy when writing your Pitch Deck or information memorandum.