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07 31st, 2009| 
ABRASIVES
In order to remove rust, tarnish or corrosion from metal of all kinds, when soap and water, oil paraffin mixture, rust removers, metal polishes, etc. have failed or are unsuitable, abrasives are used. In order to get a mirror finish on metal the correct use of die right abrasive is essential. To all intents and purposes, as they get finer, abrasives become polishes. Damaged woodwork can be cleaned and tidied with abrasives, stains and blooms on varnish can be removed; and used in conjunction with paints and varnishes, abrasives help to get deep glossy finishes.
As a general rule, work is started with coarse abrasives and finished with fine abrasives.
There are many different kinds of abrasives, and each
user tends to prefer certain ones; it is not necessary to have
aof them in your workshop. Abrasives can be bought in
loose powder form, as cloth or paper, or in bar compositions for use with buffing tools.
For the purposes of this book it should be useful to describe briefly some of the abrasives and abrasive polishes available. In the various sections, abrasives are mentioned constantly iii respect of specific uses. When working with them, trial and error is the best guide, provided that trials are not carried out on such a big scale that the error becomes irrevocable. After a while an invaluable experience of abrasives and their uses will be built up. Abrasives such as sand and glasspaper, either in sheets or discs for power tools, are used for stripping down and smoothing wooden surfaces, and iii conjunction with paint removers or by themselves, to remove stubborn old paint and varnish. When using sheet sandpaper, glass-paper or emery paper, it call be folded round blocks of wood, or made into sticks by wrapping round pieces of dowelling etc. Discs for sanders on power tools are made in a multitude of grades and qualities, some very rough indeed. Spaced grit carbide discs are excellent for tough work, where scoring of underlying wood can be removed at a later date. Metal discs with tungsten spaced grit over them are almost indestructible and will remove practically anything, but are liable to do damage as well, and should be used with great care.
Sheets of sand or glasspaper are used on finishing power sanders which do not revolve, but work with a fast backwards and forwards action.
Wet and dry emery paper in various grades, so called because it can be used dry or soaked in water as a lubricant without dissolving into pulp, will help to impart a mirror finish to any object which is being painted or varnished. The object is rubbed down with wet anddry between coats until the surface feels perfectly smooth to the fingertips. The emery is used very wet and the lubricating effect of the water helps the emery to cut smoothly without scratching.
Steel wool in various grades is a very versatile material. In rough grades, in conjunction with strippers, it will help to shift paint and varnish. Used with metal polishes it will remove stubborn stuns on metals, and will help chemical rust removers to shift rust. Steel wool pads impregnated with soap are excellent for cleaning greasy metal or wood surfaces. Mirror finishes on wood call be rubbed down with fine steel wool, before waxing to achieve smooth shining but not over
glossy finishes. The uses of steel wool iY1 C011-
junction with wood finishing materials are many, and experience is invaluable. Grade oo or 000 is used for fine work. If you have a polishing lathe with interchangeable mops and brushes, or even if you set up a power drill to take small mops and bobs, you may wish to try liquid polishing compositions. These are equivalent to the bar compositions mentioned below and are intended to be sprayed on to the work as polishing is taking place. This requires special spray equipment so this method is usually only used commercially.
Emery powder, tripoli powder, rottenstone (a mineral found in Derbyshire and mixed with oil), jeweller’s rouge (powdered iron oxide), pumice powder (powdered volcanic lava), crocus powder, carboruriduni, and whiting are all abrasives commonly used in metal finishing, and can be bought in composition bars, either greasy or non greasy, for use with polishing mops and brushes. They are used moistened on soft rags, or on swabs made up on sticks, or on small brushes (old toothbrushes come in handy here).
Obviously care must be taken not to use too strong an abrasive for your particular job. Do not risk making deep scratches which will need even deeper abrasion to be removed, and as polishing proceeds, use finer and finer abrasives until a deep glowing finish is achieved.
ACIDS
Some acids make effective cleaners. They should always be handled with care; rubber gloves must be worn, and the bottles or containers must be carefully labelled, well stoppered, and kept out of the way of children. If you do spill acid on to yourself or your clothing, wash with plenty of clean water and then with water and bicarbonate of soda which is an alkali which will neutralise the acid. When diluting acid, alivays add acid to the water and not vice versa.
Hydrochloric acid. Also known as spirits of salt. Don’t let it get near stainless steel or other metals, except under control, for it will etch the metals. Nor should it touch nylon or any man-made fibres.
Acetic acid. Is the acid constituent of vinegar.
Oxalic acid. A poisonous acid which has many uses as a stain remover. In five per cent solution it will remove ink stains. Two teaspoonfuls of crystals in two pints of cold water will remove blood stains. In saturated solution it will remove black water marks on wood.
Citric acid. A ten per cent solution is sometimes used for stain removing.
Nitric acid. This is a strong fuming acid and if you get will
any on your skin it burn severely. Any slightest amount spilt should immediately be flushed and flooded with water. Skin should be held under a running cold tap. Very diluted, it is used for cleaning gilt and gilding. It can be used to darken soft soldering.
Oleic. Acid in an oily base.
Muriatic acid. Another name for hydrochloric acid. Accumulator acid. Diluted sulphuric acid used in the making of chlorine gas for bleaching.
ADHESIVES
The problems of getting one thing to stick to another have always loomed large for the restorer, especially when the two objects are not made of the same material. Luckily, new types of adhesive have been invented which will literally stick anything to anything. The strength of the stuck joints is also very important, and modern adhesives are so efficient that stuck joins can actually be stronger than any other kind of jour, and where, in the old days the glueing of joins of all kinds was used in conjunction with other fixing methods, dowelling etc., sticking alone is nowadays often sufficiently strong. Adhesives have become so strong as well as water and heat resistant, that it is really no longer necessary to rivet ceramics, and almost totally invisible stuck joints can be made in china. Adhesives mixed with colouring matters, pigments and powders, are used as Hers, thus becoming dual purpose materials (see under Cements and Fillers). Most modern adhesives have many uses and will stick a very wide variety of substances, but some are better than others for particular kinds of work.
Why things stick together is quite involved and difficult to explain. Theoretically, if you can bring two stir-faces together so that they touch all over their surfaces, they may stick together without adhesives. Two sheets of glass will sometimes adhere in this way and become extremely difficult to part. Even two sheets of shiny paper will stick together. I know a trick with a penny, which consists of drawing a coin sharply down a varnished wall surface, and snapping it on with a thumb. The coin will stay there indefinitely if the wall surface is all right. I suppose most of the air is expelled from under the coin, and the rim makes a perfect seal with the varnished surface, and die outside air pressure keeps die coin in place. There was a pub in Potter Heighain in Norfolk, called the Falgate, where the whole surface of die bar surround was covered in coins put there in this way. In fact my father put up the first one. Much later they were all varnished in to preserve them, but eventually the bars in die pub were enlarged and down came die panelling and the pennies. Yet few people would believe that no adhesive was used to keep the pennies up and many of the coins were there for years.
It seems that the function of an adhesive is to make the respective surfaces so smooth that they adhere. When using normal adhesives, as little as is consistent with covering the whole surface should be used, as too much just keeps the surfaces apart, and does not john them together. The john should then be put under pressure and left undisturbed.
All surfaces which are to be stuck together must first be thoroughly cleaned of old grease and glue, or rust, and the adliesive makers’ instructions should be followed carefully. Glues made from gelatine or old type animal glues, can be removed by soaking with warm water. Resinous cements are dissolved by alcohol, celluloid cements can be removed with amyl acetate or acetone. Dissolver will shift modern epoxy resin glues. Once the surfaces are cleaned they should have a rub with sand or emery paper, to make sure all glue is gone, and to give a key for the cement.
Scotch glue. Scotch glue has always been the traditional glue to use for woodwork, and it is still the best glue for veneer work especially where the veneer has to be smoothed or `hammered’ into place with the rounded end of a ball-peen hammer. Scotch glue can be bought either in cake, pearl or powder form. The glue is put into a proper glue pot with water, and left to soak overnight, which makes it swell up and soften. The glue pot is in fact two pots, one within the other. The outside one holds water, the inside one the glue, just like a double saucepan. The pot is put on to simmer and the glue stirred frequently as it heats. Don’t ever boil glue, just get it hot enough to run off the brush when you hold it over the pot, without forming tears. Scotch glue is used hot and is brushed well into the surfaces. It helps to warm the wood before applying the glue. All joints made with Scotch glue should be well cramped or weighted, so that any surplus is squeezed out, and the surfaces brought as close together as possible. Scotch glue is useless for joints or mends which will be exposed to damp, as it will not hold, and in time will even grow fungus. Santobrite call be added to Scotch glue to prevent the formation of fungus. Heat also melts Scotch glue and releases joints.
Durofix. Durofix is a celluloid cement, and is extremely useful as it is transparent, so that it can be built up in layers to form a self-supporting film to repair glass etc. (although acrylic resins have supplanted it for large-scale jobs of this kind). Glass repaired with Durofix won’t stand domestic handling, but for ornamental use it is good enough. One big advantage of Durofix is that it is a one tube adhesive and does not have to be mixed with hardeners.
Et,o-stile. Made in several different types, this is a splendid impact adhesive. Evo-stik Impact Household Adhesive is excellent for joins where the two surfaces may be brought directly together and left without movement until set. Where joins have to be slid together (such as a mortice and tenon joint), this adhesive is not suitable. When using Evo-stik, a coat of the stuff is put oil each surface to be joined, and is left for at least a quarter of an hour. The surfaces are then brought together correctly (no sliding about to get things right), and an immediate bond is made which in time is extremely strong. In fact if you try to break the bond, you may break the wood instead.
Cascattdte is a powder glue which is mixed with water, is good for woodwork, as is
Aerolite which is a powder and a liquid hardener, mixed together in the right proportions for a very strong resin adhesive.
This brings me to the modern epoxy resin two-tube adhesives which are fantastically useful and versatile. There are quite a few makes, and it is not possible to list more than one or two of all the adhesives available in this section, but I think I have mentioned enough to cope with most
jobs.
Plastic Padding. This is a two-tube adhesive and filler, which has a silver metallic colour. It has the advantage of drying very quickly—in ten or fifteen minutes—so that it is useful
will
where speed is helpful. It stick pretty well anything to anything, but its silver colour precludes its use where the join will show, or will not be painted over.
Araldite. In the two-tube pack (A.V. too and H.V. 100), Araldite is suitable for joining any of the materials listed below. All objects to be glued should first be cleaned, the surfaces being thoroughly degreased, then abraded, then degreased again before the adhesive is applied. Also it is important to make sure that surfaces are dry before adhesive is applied, so give them a few minutes in front of a fan heater or on a radiator; or put large objects in an airing cupboard for a while. If there is any paint or old glue on a surface to be joined, it must be removed with a solvent. Dissolver will remove Araldite if it has been used before.
Mix your adhesive on a small piece of glass with a palette knife. Keep some methylated spirit handy for cleaning up, as it will dissolve Araldite while it is still soft. It is important that the contents of the tubes never mix except as and when you want them.
When using two-tube Araldite A.V. ioo and H.V. i oo, warm the two tubes a little before measuring out and mixing the adhesive and it will be thinner, and thus easier to use, but may take a little longer to set.
For china repair Araldite A.Y. 103 and Hardener H.Y. 951 are very suitable because the mixture is thinner; it grips very hard and doesn’t need much pressure to get a good join. Because itis thinner it can be got into small cracks, and it fills all the requirements of unobtrusive adhesion. It is not quite so resistant to water and steam as the two-tube Araldite, so should not be used for repairs to china which is going into domestic use.
All adhesives nixed should be used within an hour as it begins to dry after that time and gets tacky. It is sensible to have a sticking session—collecting together and preparing all the mending jobs you have on hand to do at the same time. It is quite difficult to mix the exact small amount you need for one article and only too ofter, the whole family searches the house for things to mend to use up the adhesive. Left over mixed Araldite will keep in the freezing compartment of your refrigerator for several hours, even overnight, but do not try to keep it there indefinitely or you will end up throwing a useless little hard lump into the dustbin together with the container or sheet of glass to Which it has become firmly stuck.
It is quite simple to measure out the two-tube Araldite exactly because you can squeeze an equal length strip from each tube on to the glass. With the thinner types, measurement is by drops, oreven with two hypodermic syringes— although this would seem to be all expensive way of doing the job. Perhaps it is worth the investment if you are specialising in repairing things with Araldite!
Having mixed the adhesive, spread an even thin coat on each surface of the object, using a match or a rust free nail or a glass rod, and fit the two firmly together. Use gum strip to bind together a join while it dries (see section on Chita). Araldite takes twelve hours to set at room temperature, and three days to harden to maximum strength, but drying can be speeded up by heating, even by baking in a cool oven.
Drying time at 149 deg. C. (3oo deg. F.) 3o rains.
121 deg. C. (zso deg. F.) i hour
79 deg. C. (175 deg. F.) 3 hours
Do not dry at over Soo deg. F. as at that heat the two-tube Araldite resin darkens.
To join the following materials (all must be degreased before and after abrasion):
Brass: Abrade with emery
Ceramics and Porcelain: Abrade with carborundum and water slurry Copper: Abrade with emery
Glass: Abrade with carborundum
Gold: Abrade with fine emery or crocus paper
Lead, Tin and Solder: Abrade with fine emery
Leather: Degrease with great care. Abrade with glass paper Silver: Abrade with fine emery
Steel and Iron: Abrade with emery
Stone: Abrade with a wire brush
Wood: Abrade with glasspaper
Pastes. Special pastes such as Gripfix, and photographic mounting pastes are most useful for paper work as they do not cause cockling or staining. Some photographic mountains have first to be painted on with a soft brush, and then, when the paste has dried for some minutes, the picture or paper is ironed on to its mount with a warm iron over greaseproof paper.
Paste for paper and leather similar to paperhanger’s paste, proprietary brands of which can be bought, are made up as follows: Recipe i. lb. plain flour
oz. powdered alum
Mix with water to a cream, and then add a pint of cold water and heat in an enamel saucepan stirring all the time.
When using this paste for leather add a little thin Scotch glue. Keep this paste away from metal before use or it may pick up discolouring stains.
Recipe z. i teaspoonful plain flour z teaspoonfuls cornflour J teaspoonful alum
3 oz. water
Mix all ingredients together well so that there arc no lumps, bring to the boil in an enamel saucepan, stirring all the time, and boil for a minute or two till thick.
Copydex is an extremely useful white, rubber-based adhesive for all fabrics.
H.M.G. This heat and waterproof adhesive is good for some jobs because it is clear and quick drying, but it is not over strong. It can be handled for up to an hour, and goes totally hard in twenty-four hours. It does not slip, and is dissolved by acetone.
AMMONIA
Ammonia is a gaseous compound of nitrogen and hydrogen. It has the property in liquid form of turning grease into a soluble soap and so removing it. Used as a ten per cent solution in water it gets rid of dirt and grease, and some kinds of silver tarnish. It also makes glass and porcelain sparkle. It should never be used on bronze, and can lift varnish on wood. It is in fact, in a strong solution, quite a good varnish stripper (see Stripping).
Scrubbs Cloudy Ammonia is a ten per cent solution.
Ammonia solution is used for cleaning Ormolu (see Ormolu) and in a very dilute form, marble. A few drops added to beeswax and turpentine (see Beeswax) makes effective furniture polish.
ANTLERS
Antlers and horns, mounted on shaped boards—relics of our big-ganic—hunting grandfathers—are quite common junk objects. If it so happens that you do wish to restore such an object, clean the horns as suggested under Ivory and Bone. Fill any holes or chips with epoxy resin suitably coloured with kaolin powder and a little yellow ochre or brown dry powder pigment to match. Stick broken pieces back in place with Araldite, and put a wire core or pin in hollow broken horns, packed round with filler as described in the section on China Mending. The clean horns or antlers should be coated with a light wax polish to improve their looks. The backboard may need mending or completely stripping off, and repolishing.
Antlers which come complete with the deer’s head are more difficult to cope with if the head is in bad condition. A good brushing with Fullers Earth should clean the hair, but the repair of rotted or torn leather sections may be very tricky and take careful needlework. It may be necessary to re-stuff parts of the head. A good mothproofing is always advisable, so spray well with an aerosol niodiproofer, and an insecticide as well, if necessary.
Presenting the Plan d3sf4wr6gk
Joe had created a business plan for a new gourmet mustard venture. He had spent a great deal of time developing the business initially and very little time putting together a business plan itself. It took Joe a good long while to learn the importance of the look of the plan. It almost cost him everything.
Joe’s plan was a visual mess. The margins were only half an inch wide. Joe had learned in school that wide margins on term papers meant you didn’t have anything to say. In the world of academia, the narrower the margins, the more words per page. More words per page meant more content, which to his professors meant that more work had gone into the effort. And by this measure (instead of an actual reading in some cases) a better grade was received. And so, consequently, Joe felt that with narrow margins and a cramped style the brilliance of his plan would be revealed.
Instead, the opposite was true. The first venture capitalist to receive the plan took one look at the tightly spaced and crowded first page and set the whole thing aside. All Joe received was a letter saying the investment didn’t fit their profile. He never learned it was the presentation of the plan itself that didn’t fit their standards.
The second venture capitalist to receive the plan was a stickler for consistency, neatness, and grammar. Joe’s plan was inconsistent in the formatting of tables, charts, and section headings. It was stapled together in a fairly sloppy fashion. Joe had not bothered to spell-check. By the time the second venture capitalist saw his second spelling error, he had had enough. The whole plan was set aside, and Joe again received a letter saying the investment did not fit their profile.
Joe was perplexed. He had done a great deal of work putting everything in place. He was ready to start shipping cases and cases of the product. He felt like he wasn’t getting a straight answer. He needed to know why the venture guys didn’t relish his gourmet mustard.
One of Joe’s friends offered to hook him up with a venture capitalist who would give him a straight and honest appraisal of the plan. Joe jumped at the offer and overnighted the plan that afternoon,
In three days, Joe met with Jessica, a well-dressed, no-nonsense professional investor. Jessica got right to the point. Joe’s plan was a disaster. It was difficult to read because it was too cramped, without any relieving white space. It was a jumble of type styles and inconsistent formats. The binding with off-centered staples was not neat or professional. Jessica said the entire product reflected poorly on Joe and his business. And in a game where first impressions are crucial, Joe’s current first impression would never lead to a second one.
Joe was crestfallen but thanked Jessica for her candor. He muttered he would probably lose his orders for 100,000 cases. Jessica immediately picked up on the comment. What 100,000-case order? Joe elaborated that he had received several purchase orders from the likes of Safeway and Wal-Mart. The buyers loved this gourmet mustard and were awaiting shipment.
Jessica asked Joe why the purchase orders weren’t included in the supporting materials. Joe didn’t realize the documents themselves were important. He had mentioned the orders at the bottom of page 27. Jessica scoldingly told Joe he was hiding his light under a bushel. Orders of that magnitude should be mentioned on page 1 and attached as supporting material exhibits.
Joe smiled. Did she think he had something? Jessica was now tearing through the financials, the management section, and all her other favorite parts of a business plan. She was starting to appreciate the opportunity in front of her.
As it turned out, Jessica’s firm invested in Joe’s business. And in the process, and very fortunately, Joe came to fully appreciate the importance of plan presentation and the inclusion of important supporting materials.
Your First Impression
The first impression many people will get of your business is your plan’s appearance. Do you think a potential investor or lender will look differently at a business plan that is neatly bound and formatted for ease of understanding compared to one that is written margin-to-margin in purple crayon? What impression do you want to give? Here are a few hints for a good-looking plan:
• Use white (or very light-colored) paper.
• Margins should be at least one inch (but less than two inches) all the way around.
• Font styles should be kept to a minimum (no more than three).
• Colors should be used conservatively (photos and complicated graphics are exceptions). Black print and one or two accent colors are best.
• Pages should be printed on one side only.
• The entire document should be single-spaced with double spaces between paragraphs.
• Don’t be afraid of white space.
• Use bulleted points whenever you can.
• Be consistent with formatting of tables, graphs, charts, titles, and section headings.
• Use neat, professional binding—no staples.
• Use a spell-checker.
• Get someone you trust to look through and read the plan.
• Include a table of contents at the beginning and an index at the end.
Your cover sheet should include all the information a reader will need to get ahold of you (company name, address, and phone number; names, titles, addresses, and phone numbers of owners) as well as the company logo, the date the plan was prepared, and the name of the person who prepared it.
Length
It’s ironic that it takes a 200-page book to explain how to write a succinct business plan. Typical business plans average between twenty to forty pages, including support materials. (Others, of course, maybe longer.) On the surface, it may seem unnecessary to do all the research and planning and organization we suggest, but think of your business plan as a crucible. The research, planning, and organization are the components you focus on in order to create a successful business. A winning business plan not only maps out the keys to a successful business but, more important, addresses the unique aspects of your business in a way that will serve your unique temperament, goals, and experience while simultaneously meeting the needs of investors and financiers.
So how long should your business plan be? The answer is simple: as long as it needs to be. How do you know how long it needs to be? You do the preliminary footwork. This book is an excellent first step. Then start writing. As you write it all out, you’ll get a sense of how long feels right. And again, have trusted friends review your work. They’ll help you determine which areas need to be fleshed out and which ones need to be pared down.
Presentation
Business plans are meant to be seen. Whether you wrote your plan to attract funding or to help with management, you will need to show the plan to someone.
• The plan’s appearance reflects your commitment to creating a winning business plan.
• The plan’s content is far more important than its appearance, but it won’t be read if it lacks a professional look.
If you wrote your business plan in order to attract funding and/or investment, you will need to get the plan into the hands of the people who can decide whether or not to give you money Most of us are uncomfortable when it comes to talking about money. Many of us were taught that it is rude to talk about something so crass. But if you want someone to give you a loan or invest in your company, you will have to get over your upbringing because you can’t just mail out your plan and hope for the best.
If you want loan or investment approval, you will need to schedule meetings to present your plan. Don’t think that just having the meeting and leaving the plan for the decision makers to read will cut it. Don’t leave something as important as your business’s future to chance. Decision makers may promise to read your plan and give it consideration, but you can’t be sure they actually will. The only way to be sure that your potential investors or funders get your message is to present it.
The presentation of your business plan should be a business meeting, a formal presentation. Even if the potential investors are your parents and your little brother, you want to present your plan in a serious and professional manner. (Remember, you can’t advertise for people to come to this meeting.) But for your preexisting audience—your friends and family and any professionals you’ve been in touch with—you might want to use a conference room. This room can be at the potential investor’s or lender’s office. If not and you lack the facilities, try borrowing space from a friend or renting a conference room. You might want to use presentation equipment, such as a computer/projector for your PowerPoint presentation. You should give your audience hard copies of your plan as well. When is up to you.
You can have the plan delivered before the meeting so that your audience will have time to formulate questions, though you run the risk of them making a negative decision before you have a chance to highlight all your positive points. Try having the plan delivered just the day before the meeting so your audience can become familiar with it without enough time to make a decision. Or you can hand out the plan at the beginning of the meeting, though here you run the risk of your audience reading while you are trying to present. Either way, have copies of your presentation slides to hand out so your audience can follow along.
Your slides and their corresponding handouts should contain short, bulleted points and be in the same visual style as your plan. Your presentation should be less formal than your plan in that you don’t want to sound like you are reading. Try to make it as much like a story as you can. Practice your presentation and get feedback from people you trust to give You honest opinions before you go before people who can make or break your business. Keep in mind that your audience can read—your slides and your handouts—so you don’t have to. Let your slides be reminders for your talk. Let them remind you what points you want to make and then expand from there.
If you wrote your business plan to aid in management, who sees the plan will depend on your business, your style, and your goals. Obviously, if the whole business is comprised of you and your spouse, there don’t need to be a lot of secrets. But if yours is a business with a rigid hierarchy with decisions made only at the top level, you might want to limit access. You might choose to share your plan with management only or show employees on a need-to-know basis. You might distribute a version of the plan (say, a version without financial detail, but with graphs and percentages instead), or you could include sections of the plan in your employee manual. It is entirely up to you. Odds are you will want to consider the twin needs of protecting sensitive information and building a sense of ownership, and only you know how to do so.
While people involved with money will have a pretty good idea why you are showing them your business plan, employees might not. You might include your business plan presentation as part of a company retreat or have a special meeting just for the plan. Maybe you want to introduce the plan to everyone at once or department by department. Wherever you choose to have your plan unveiled, be sure you are present. You may choose to deliver the entire message yourself, or you might be better served using a team approach, with appropriate managers discussing different sections. Again, it comes down to your particular approach and your particular business. Regardless, be sure to explain what a business plan is and how it should be used, why you are showing it, and what you expect listeners to do with it. Similarly, if you use the plan as part of your training program for new employees, be sure that they are not just handed the plan cold but are given the same message you gave the others.
As your business and your business knowledge grow, take some time to check back in with employees to see how the plan is being used and how employees feel it is working. Get suggestions and comments from employ ees and then use that input to improve the plan. Let the plan work as a road map, a checkpoint, and a management tool.
Your Plan Is a Living Document
A business plan is an ever-changing, never-completed document. It is always in a state of revision. With the passage of time, expertise grows, markets change, customer bases alter, and technology continues ever onward. Anyone who reads your plan should get the most up-to-date and complete information you are capable of providing. This means that even after you write the last section of your plan, you need to continue to study the markets and stay abreast of industry, market, and economic trends. Just as your business will be in a constant state of flux, so, too, should your plan be.
Anticipating Problems
Ideally, any business plan, whether written for management purposes or to attract funding, will help anticipate problems that could strike your company. Are costs of supplies going up? Is technology getting cheaper? Is competition increasing or decreasing? What is the motion (if any) of your labor pool? What advertising trends seem to be coming around again? Where is the economy in its current cycle? Are your best-selling products peaking, or are they on their downward slide? Which products are showing new strength? Use your plan to draft alternate budgets so you will have some sort of road map if good times get bad or bad times get better. Use your plan to assess whether or not your current circumstances (good or bad) are short-term or long-term.
Supporting Materials
Supporting materials are all the documents that can help convince readers of your business plan that your business is worth their time and/or money.
The documents should be introduced or referenced in the text of the previous sections so that they can stand alone in this section. These documents should need no introductory or explanatory text in this section and therefore can be simply arranged and attached to the final plan or offered as a separate document to serious investors or appropriate personnel.
As you go through the process of writing your business plan, you will think of a host of materials that can help you make the argument (to yourself, your management team, or potential lenders and investors) that your business is a good risk. These documents give credence to your arguments, and they back up your numbers. They help show how you came to your decisions and how you will make your plan work. As you prepare the plan, you should keep a notebook close by to jot down the supporting documents you reference in other sections or that you think you might want to include. Be sure you include every document that you mention in your plan. Don’t make your readers search for the information they need in order to make an informed decision (ideally, the positive decision you want them to make). Some of the support materials you should consider are these:
• Resumes. Ideally, resumes are one page and include work history, education, professional affiliations and honors, and special skills. Include resumes for all owners/partners and corporate officers (whatever applies to your corporate entity).
• Letters of reference. Your letters of reference can come from past investors, lenders, or business acquaintances (people you’ve worked for or with, suppliers, distributors, etc.) or from nonbusiness acquaintances (but avoid letters from friends or relatives) and should be assessments of your business skills.
• Personal finances. While some practitioners suggest including a balance sheet of your personal financial history as well as that of other owners/partners, I am not keen on it. Keep your personal information as private as possible.
• Leases. Include any lease agreements you have for your business (such as those for buildings, vehicles, equipment).
• Contracts. Include any contracts for your business (such as loans, purchase agreements, service contracts, even maintenance agreements).
Remember Joe’s 100,000-case gourmet mustard order? That type pe of business validation is well placed in this section.
• Other legal documents. Include any other pertinent legal documents, such as copyrights, patents, trademarks, insurance policies, and articles of incorporation.
• Other attachments. Include any other documents or information that you have referenced in the body of your plan but that do not fall into any of the above categories. These would include demographic information, maps, and the like.
Depending on your business and the information available, you might also consider attaching:
• Glossary of industry terms
• Product information
• Additional or more specific marketing data
• Marketing materials (brochures, catalogs, etc.)
• Financial analyst reports
• Newspaper or magazine articles
• Company history
• Press releases
• Web pages
Not all plans will need the same information. Those written for management purposes will not need the resumes, letters of reference, or credit reports. Even plans written to attract funding will differ as different lenders or investors will want to see different information. It is best to prepare as much information as you can so that you can easily tailor copies of your plan for various readers and institutions. And please note that the plan found in the appendix is a somewhat abbreviated version for reasons of space. Your plan may have much greater detail.
