Shooting the War

The 1802 pattern musket was issued to the 43rd and 52nd Regiments (now the 1st and 2nd Battalions of The Oxfordshire and Buckinghamshire Light Infantry) in probably 1803, and it may be that soon after, slow issue started to troops on the Home establishment as the muskets became available art and crafts of a dragonfly that have inspired designers. It is doubtful, however, whether many units had yet received the new weapon when Napoleon finally departed from the scene en route to St “making furniture”   armchair legs. Helena antique creamware tankards.
In spite of its slow distribution the- r8o2 pattern musket became the standard army weapon, and it appears to have been successful and well liked antique wood plate racks.
It was not only in the musket that the Nock influence was apparent antique square drop leaf table. A few years earlier, in 1796, the ‘Brown Bess’ carbines and pistols of the heavy cavalry (which a Board of General Officers considered ‘inconvenient, useless and cumbersome’) had been replaced by other patterns which were practically identical with the Nock trial models of 1785 but with gaudi roundel. conventional locks wells coates. They had 26-inch and 9-inch barrels respectively, both of musket bore rococo writing table.
A much more remarkable carbine was issued to the light cavalry in somewhere about 1800 gustavian furniture copenhagen. This was the so-called `Paget’ carbine, which is supposed to have been invented by Lord Paget, the famous British cavalry general mid 19th  century wooden furniture. It was noteworthy in two respects queen ann gate leg table. The barrel, of carbine bore, was by far the shortest that had ever been designed for a British carbine; being only sixteen inches, which made it a very light and handy weapon fora horseman orrefors blown glass & stemware & smoky gray. Of particular benefit to the mounted soldier, however, was the attachment of the iron ramrod biedermeier antique de. This was a link, known as a ’stirrup’, fitted near the muzzle, which kept the ramrod permanently attached to the piece, even when in use, so that there was no chance of the rod being accidentally dropped william iv “furniture”. This had always been one of the main troubles in loading firearms on horseback robert adams marquetry.
A pistol was brought out at the same time as the carbine, also with the ‘Paget’ stirrup ramrod, and the same lock as fitted to the carbine chippendale pedistal drum table. In other respects it was similar to the pistol first issued to the Light Dragoon regiments in 1759-
Both these ‘Paget’ weapons were so successful that they continued in use until flintlocks finally disappeared from the Army english ironstone pottery ltd.
Whilst Lord Chatham was worrying about the new musket, and the light cavalry was being equipped with its new ‘Paget’ arms, a much more important event was taking place in the history of British military firearms when were claw feet intoduced to teapots. This was the first official issue of a rifle to the British Army ” rococo revival” console english french.
It having been decided to raise an ‘Experimental Corps of Riflemen’ (later to become the Rifle Brigade), a competition was held on the 4th February i800 at Woolwich Arsenal to select a suitable weapon from models submitted by British, German and American gunsmiths antique spindle leg drop leaf side table. The winning competitor was Ezekiel Baker of Whitechapel in London antique czechoslovakia porcelain vase.
Ezekiel Baker had already been established for twenty-five years in his gunshop at 24 Whitechapel Road when he produced his winning design for a muzzle-loading rifled musket 19 c entree dish handle. He was originally apprenticed to Henry Nock, but was destined to surpass even that famous master antique george washington porcelain figures. At the time of the rifle trial he already held Government contracts for smoothbore muskets, carbines and pistols, and similar contracts from the Honourable East India Company antique dining table french regency.
Baker’s rifling was unique george 3rd italian furniture designer. Instead of the three-quarters of a turn which the Ferguson rifling had had, and which was still a normal twist on the Continent and in America, the Baker rifle had only a quarter of a turn antique italian baroque armchairs. In response to considerable adverse criticism of such a slight degree of twist, Baker justified his design on the ground that cutting down the twist reduced the friction in the barrel cherry gate leg rectangular table. This resulted in a flat trajectory for the first two or three hundred yards, and also made it easier to load the rifle drop leaf gate leg side table mahogany.
The length of the barrel and the calibre of the bore were at first the subject of considerable difference of opinion between Baker and the Board of Ordnance thonet rail styles. The military requirement was for a weapon which would have the standard light infantry musket barrel of thirty-nine inches, and the calibre of the smooth-bore musket, in order that the same-sized bullet could be used for all infantry elijah staffordshire figure. Baker accordingly made some rifles to these dimensions and demonstrated, as he had already contended, that they were far too clumsy for practical use splay leg sofa table. As a result it was decided to have a 3o-inch barrel with the standard carbine bore of 20 (a calibre of -61S) antique tables pictures. There were seven grooves in the barrel, as compared with eight in the Ferguson rifle art deco intended customers.
The Baker rifle was at first fitted with an adjustable back-sight; but this was soon discarded as adding an unnecessary complication for the soldier in battle italian clock marble antique hermle. Instead the rifleman was taught to aim at the enemy’s cross-belts for all distances up to Zoo yards, and at his head and shoulders for any greater range antique jugend style cupboard. As regards the accuracy obtainable with his rifle at such a target with the fixed sight, Baker has recorded a test which he carried out himself antique dutch desk. He put up two man-size targets, one at ioo yards from the firing point, and the other at Zoo drop leaf table with brass feet. He then fired thirty-four shots at the first target and twenty-four at the second dutch card table rosewood 18th century. All of them hit somewhere, though scattered over the entire body silver dishes. When these results are compared with Colonel Hanger’s remarks on the accuracy of Brown Bess, and the tests carried out on the same weapon by the Royal Engineers in 184 1, the vast superiority of the Baker rifle will be appreciated burslem yellow trellis ceramics. That is not to say that the Baker rifle compared in accuracy with the target rifles used by the great shots of the day; but Baker contended, rightly, that his rifle was suited to the military purpose for which it was designed wallendorf candelabras.
The standard carbine bore bullet was, of course, loose-fitting, but it was intended that it should be used in conjunction with a greased patch, which gave the necessary grip to the rifling covered bowl antique chinese doucai. Baker, in his book Remarks on Rifle Guns, gives a very interesting description of the way his rifle should be loaded art deco cigarette dispenser. He says:
`In apportioning the quantity of powder for a rifle one charge for all distances should be carefully attended to, and if the powder be good, I have ascertained that nearly one third of the weight of the ball, priming included, is the best estimate art deco writing table. After you have loaded the piece with powder, then put the greased patch of leather, calico, or soft rag, provided for that purpose, on the end of the barrel, as near the centre as possible, place the ball upon it, with the neck or tastable where it is cut off from the moulds, downwards, as generally there is a small hole or cavity in it, which would gather the air in its flight, but if this plan is adopted, and the smooth side always kept up%vards in the barrel, it will not be so liable to be obstructed in its passage through the atmosphere “serving table” antique ball claw. Great care should also be taken that the ball is in the middle of the patch of leather or greased rag, before it is rammed down the barrel; if it is more on one side than the other, it will give the ball an inclination, and throw it from the straight line on its leaving the barrel curved padded chair walnut. Both sides of the patch should be greased, in which case there can be no mistake, however hurried you may be in loading designing knock down furniture. A ball should never be forced down too hard, nor yet should it be too easy—I never found them go so true, as when properly fitted most valuable silverware. The ball with its patch should fit airtight, or it will not have the desired effect floral ornaments art nouveau. I do not mean that the ball should fit so tight as to require a wooden mallet to drive it in the nose of the barrel pine draw leaf coffee table 1920. When the 95th Rifle Regiment was raised by Government, which is now called the Rifle Brigade, I supplied them with a few hundreds of wooden mallets to drive in the ball; but they found them very’ inconvenient, and very soon dispensed with thern; in addition to which they became a serious incumbrance to the men, and have for some years past been entirely abandoned markings on antique candelabra.
‘The loading is, indeed, performed equally well without them, as a man’s strength is always found sufficient to make the ball enter, when it fits as it ought to do bread brand marks 18th century.
‘If the ball fits airtight, as it should do, it will require two or three pushes with the yammer before the air can escape (through the vent) to get it in its proper place 1960 period style coffee table designs with lion claw feet.
‘I do not recommend the ball, as I have before mentioned, to be bruised with the yammer, but pushed avant garde dining tables. If the ball has ragged edges, it will be much impeded, as well as thrown from its true direction by the air, more so than when in its globular shape, in the front part of the ball pearlware barley.’
In practice two methods were used to load the Baker rifle in action antique console. The one described above allowed a rate of fire of about two rounds per minute, which was, of course, considerably slower than the smooth-bore musket repair antique dresser drawers. For rapid fire in an emergency, however, the weapon was treated as a smoothbore rococo writing table. For this purpose a pouch filled with musket-pattern made-up cartridges was carried on the soldier’s equipment 19th century garden furniture. The paper was torn off, the powder poured into the barrel, the paper case then used as wadding, and the ball rolled down on top without using a greased patch 18 century display cabinets. This method had the disadvantage that the grooves got clogged up, and had to be cleaned out before the gun could be used as a rifle again drop leaf coffee table which raises to table height.
The greased patches for enclosing the bullet were kept in a recess in the right side of the butt, known as the ‘ patch box’, and closed by a hinged brass lid 17th century dining table. The first bayonet had the usual triangular blade though of eighteen inches in length inlay antique serving trays.But the hilt and fitting were entirely new 17th century dutch small cupboard value. Instead of the socket end, there was a grip with quillons narrow 9 feet dining table. The grip was slotted to fit over a lug at the side of the barrel, and was secured in position by a spring fixed in the slot stylized acorns. This pattern of bayonet was replaced by one having a flat single-edged sword blade twenty-four inches long booths chipendale turreen. The grip was of the same design, but a knuckle guard replaced one of the quillons antique liberary stands. The powder horn issued with the Baker rifle had a cut-off fitted in the nozzle which measured the correct charge of powder to pour into the barrel puce decorated 1756 cups. (The usual pattern of made-up cartridge, filled with the correct rifle charge, was also carried art deco ceramics.)
In about 1807 difficulties in ammunition supply led to the Baker rifle again being altered to musket bore, though the length of the barrel remained unaltered inurl:antcollectors.com . The result must have been disappointing, for the carbine bore was reverted to once more in about 1830 silver flatware wood handle.
Although the rifle was introduced into the Army as a weapon for skirmishers, there were numerous instances during the Napoleonic wars when its value was demonstrated for other military occasions italian antique small inlaid wood 18th century ivory. One such instance which occurred during the siege of Badajoz in 1812 is narrated by Major George Simmons:
`I was with a party of men behind the advanced sap, and had the opportunity of doing some mischief myott son compagnie. Three or four heavy cannon that the enemy were working were doing frightful execution amongst our artillerymen in their advanced batteries french meals 17th century. I selected several good shots, and fired into the embrasures east india company antiques. In half an hour I found the guns did not go off so frequently as before I commenced this practice, and soon after gabions were stuffed into each embrasure, to stop our rifle balls from entering swedish furniture 1930. They then withdrew them to fire, which was my signal for firing steadily at the embrasures bone handled fork converted to knive. The gabions were replaced without firing the shot glass table antique ceramic legs. I was so delighted with the good practice I was making against Johnny that I kept it up from daylight to dark, with forty as prime fellows as ever pulled trigger gateleg drop leaf table 19th century. These guns were literally silenced antique vienna porcelain vases.’
In Deane’s Manual of Fire-,Irms, of 1858, there is an account of the use of rifles to repel cavalry:
`When in 1812 the rear-guard of the Anglo-Portuguese army was pursued and attacked upon the retreat from Burgos to Valladolid by a numerous French cavalry, on which occasion two English cavalry brigades were porcelain wincanton. brought *into some confusion, the two light brigades of the King’s German Legion became also engaged with the French Dragoons dutch delph pottery marks. These battalions had been i000 strong, and one-third of these armed with the rifle antique ebony ivory jewelry boxes. But the judicious principle had been pursued by their commanding officers throughout the operations, to keep the rifled arms as much as possible by the battalions, for which purpose all sick, wounded, and other absentees from the ranks, left their rifles in exchange for a smooth bore musket antique pediment. Upon the retreat in question, the battalions were so much reduced in strength that the mounted officers could not be taken into the squares commodore perry corner cabinet. Almost all the men were thus armed with the rifle; yet did they, nevertheless, repel the frequently reiterated charges of the French cavalry; and his Majesty, the late Xing of Hanover, upon constituting from the debris of those battalions the present Hanoverian Jager Regiment of the Guard, conferred upon them, as a memorial of their brilliant feat of arms in the Peninsula, the permission to wear the name of the place (Venta del Poz6) under the royal arms burslem yellow trellis ceramics. Major Jacobi, of the Hanoverian service, in his critical remarks upon this arm, in 18,29, proved also amply, that even in its then condition, it yielded in nothing, in the hands of those who knew how to use it, to the line musket, with all its boasted celerity of fire burr walnut art deco dresser bakelit.
The accurate shooting of the Riflemen aroused, apparently, an increased interest in musketry throughout the Army myot t, son & cie. Even in the Volunteers emphasis was placed on weapon training and range practice imatation marble antique bedromm suit. This is well illustrated in a letter from Lieutenant-Colonel G arts and crafts hall bench. R black lacquer antique dining chair. Ainslie, half pay, Inspecting Officer of South Lincolnshire, to the ‘Officer Commanding Volunteers of Loveden’ swansea duck egg. Ainslie writes:
`I request that the corps under your command may practice with blank and ball cartridges, with all expedition robj ceramics. The number of the latter being so limited, the volunteers ought first to be taught to fire the former, and it is essentially requisite previous to target practice, that the officers narrowly observe whether any remains of a certain dread of discharging a musket (more or less) experienced by every man unaccustomed to firearms exists matthais lock furniture. I suggest the propriety of firing first individually and then by files, under the immediate, inspection of the officers of each company, who will instruct the volunteers and strongly inculcate the advantage of both levelling very low and keeping the firelock in a horizontal position for some time after drawing the trigger, to do away with the bad effect resulting from the piece hanging fire, and it is a well known fact, that a bullet always rises and will go through a man’s body after having struck the ground puce decorated 1756 cups. According to my opinion the soldier might almost invariably to take aim at the knee of his enemy nineteenth century gate leg table. antique silver baskets. 18 century porcelain placks louis xvi. leon and maurice jallot french dining chair. I repeat that too great attention cannot be paid to porcelintables. furniture by charles ashbee. ceramic alcora antique. levelling low and steadily taking good aim, and keeping his firelock (according to his Royal Highness the Commander-in-chief’s late regulations) such a length of time at the present, after drawing the trigger, that there can be no chance of hanging fire arabic style lambrequins.
` types of table legs 19 century. bugatti furniture range. royall naples factory. A certain proportion of the most active and best marksmen of each company should particularly be pitched upon to oppose troops of the same description of the enemy, and provide themselves with a stout gimblet, which by being run into a tree, gate, post etc chinese porcelain cockerels., etc pottery france incised initials rb contemporary., will afford an instant and ready rest for the firelock and put the volunteer on a par at least, with the Rifle-Man unprovided with assistance of the above kind, independent of the advantage possessed over the rifle by the firelock (viz antique pine drop leaf table rectangular.) of requiring not one third of the time necessary to load the former dutch delph pottery marks.’
That a smooth-bore musket fired over a rest was as accurate as a rifle fired without one is a claim that is not likely to have been supported by any practical results old metal tables with attached leaves. But no doubt the implied suggestion that the man with the musket was as well armed as one with a rifle was very good for morale; particularly in the case of partially trained troops antique card table withe one flap.
The number of firearms which were turned out by British gunmakers during the Napoleonic wars was phenomenal suzanne cowan potter. They amounted to some 31 million muskets and 30,000 Baker rifles federal desk. The muskets were required to arm not only the British forces, but also those of the foreign troops in British pay, and the various allies who joined in the war- against Napoleon from time to time tin glaze pottery makers. Some of these last were all too ephemeral, and many British muskets ended up in the hands of the French suzanne cowan potter. The number of Baker rifles manufactured was very much less, but even so there were enough to equip some Volunteer rifle units, as well as the Regulars tudor gothic furniture.
The complications caused by requirements of different types of ammunition have been mentioned already mid century decor mahogany rectangle divided tray. In the Peninsular campaign the standard musket bullet was the ‘Old English Service’ round ball weighing 141 to the pound, cornmonly referred to as the ‘ounce bullet’ french antique furniture eagle emblem. The powder charge for this bullet was 6 drams antique japanese bedside cabinet. For the heavy cavalry’s carbines and pistols of musket bore this charge was reduced to 51 and 31 drams respectively portuguese pallissy ware. The light cavalry carbines and pistols were of carbine bore, and therefore required a smaller charge marquetry tables.
breech-loading version of the Baker was tried by the Ordnance Board, and eventually issued to some of the Volunteer Rifle units antique extending round dining table. It did not prove sufficiently successful, however, to replace the Baker and was ultimately withdrawn antique cherry drop leaf tables. It was known as the Sartoris rifle, and had a hinged breech on very much the same principle as the carbine made by Durs Egg and described in Chapter VII chippendale modern interpretation. The defect of Egg’s mechanism, however, was remedied by an arrangement which locked breech and barrel together, instead of relying on a surface contact sheffield plate corinthian column candlesticks. A screwed projection on the breech fitted into a screwed termination to the barrel antique inlaid table birds. In both cases, however, the screwed portion was divided into eight equal segments, on four of which the screwed portion was cut away antique empire or regency style mahogany bookcase. On closing the breech, the threaded segments of the projection slid over the smooth segments of the barrel, and the smooth segments, similarly, over the threaded segments of the barrel american empire period furniture. One-eighth turn then engaged the threads of each and locked the breech 17th century cuboards. Both the longitudinal and rotary movements were actually made with the barrel 18th century music stand. This ingenious mechanism was excellent whilst it was clean; unfortunately after firing for a short time the fouling which accumulated was liable to jam the breech antique round oak dining table claw and ball feet.
During the Peninsular campaign the Light Infantry custom of browning the musket barrels was adopted, apparently, by most of the Infantry units of the Army, and the Baker rifles were all browned from the start antique puente pottery. It was presumably found that in the bright hard summer of the Peninsula the glint of the sun on massed musket barrels gave dangerous advertisement of military movements j s henry furniture. In the heavy cavalry, however, browning seems to have been become universal with the issue of new carbines and pistols in 1796 antique bread making furniture. In 1798 a receipt-was sent to all Colonels of heavy cavalry for ‘renewing the brown colour which may be rubbed off from the barrels of the carbines and pistols lately adopted spanish revival walnut console table.

Tags: and duncan phyfe have in common, antique wood, art and crafts, british carbine, british cavalry, carbines, cartridge, conventional locks, Deane, drop leaf table, effect, equipment, government contracts, gunsmiths, gustavian furniture, hepplewhite, inch barrels, infantry unit, Johnny, Major George Simmons, musket, plate racks, reign, smoky gray, training, viennise cecession furniture/prices, vilas dresser, vilas drop leaf table, vincennes porcelain candlestick, vintage, vintage furniture tallboy bottom cedar drawer, vintage 2 tier 3 legged carved edges pedestal table, vintage bookcase with pull-out writing desk and sliding, vintage brass frame value, vintage draw leaf table, vintage dressing table with curved feet, vintage end table with brass carved ladies top of legs, vintage gateleg table butterfly legs, vintage horsehair couch, vintage john widdicomb commode, vintage lusterware cruet and matching tray, vintage oak 5th leg table, vintage pine round drop-leaf table uk, vintage porcelain medical table, vintage sideboard/buffet with two curved doors and smal, vintage silver novelty spoon, vintage tablecloth border has numbered mark, vintage tiered claw foot table, vintage wood divided table open top, wells coates, what do chippendale, what does bobbin turning furniture look like, what elements defined the art nouveau style and why did, what instrument was painted on the english george iii m, what is a deux corps armoire, what is harlequin pattern sofa, what is the difference between elizabethan and jacobean, what is the hole in an sideboard used for?, what is the value of an antique hepplewhite chair, what period is tudor?, what should the back of an antique sideboard be covered, William, winning, wooden furniture, writing table

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.

Tags: academia, appearance, approach, approval, balance, brilliance, business, business plan, commitment, conference, consideration, consistency, corporate entity, Cost, department, education, experience, fashion, first venture, formatting, gourmet mustard, grammar, industry, insurance, investment, investor, investors, little time, Loan, marketing, money, narrow margins, neatness, organization, planning, Presentation, professors, purchase, rent, section headings, shipping cases, stickler, straight answer, term papers, training, venture capitalist, winning

The better you understand your business, the better prepared you are to write the business plan. Ideally, you will have thoroughly thought out your business long before you ever open your doors for sales. Too many entrepreneurs jump into business with both feet and don’t bother with understanding (let alone planning) until the water is rising. jumping into the deep end of the pool is not the best way to learn to swim. If you’re lucky, you won’t drown, but even if you make it out of the pool, the experience is likely to be remarkably unpleasant.
The Business Section
The first major part of your business plan should be a detailed description of your business. You’ll address your corporate entity choice, be it corporation or limited liability company. You won’t even consider using a sole proprietorship or general partnership, because, first of all, investors wouldn’t even bother to read the plan and, second, there is too much personal liability for you in a sole proprietorship or general partnership. To fully appreciate this, see my book Own Your Own Corporation (Warner Books, 2001).
Your detailed description will also include strengths and weaknesses, a description of your operations, location, personnel, records, insurance, and security.
For the business, the market, and the financials sections of your plan, it is best to introduce the section with a brief (as in one page) summary. From there, you can use more detail in each subsection. While the entire plan should be succinct, these summaries will allow interested parties to graze for pertinent information.
There are two questions you need to ask yourself about your business that color every part of this section, though their answers are never directly addressed in the plan:
• Why are you in business?
• What is your business?
If these seem like easy questions to you, either you’ve done a good job thinking through your business or you haven’t even started. We’ll hope for the former.
Why are you in business? How well do you know yourself—in particular, your personal motivations? When you decided to go into business, was it out of desperation (lost job, family illness, personal injury)?)? It’s okay for desperation to spur you into a new direction, but don’t let it rush you. Did you decide to go into business out of a desire for personal fulfillment (following a dream, helping others)? Many businesses are begun for just this reason, but if you don’t understand the realities of owning and operating a business, you aren’t likely to stay in business long enough to do you or anyone else any good. Did you decide to start a business in hopes of amassing great riches? This is another common reason, but chasing after dollars runs the risk of leading to early burnout and/or disillusionment. Understand your motivations, and you can guard against many a typical disaster.
What is your business? Don’t answer too quickly. Just because you ou sell office supplies, that does not necessarily mean you want to look and feel like all the competitors. Think about it: There are plenty of office supply stores out there. Most are better established than yours. Many will have lower prices than yours. So why should anyone go to Your store? Answer that question, and you will know what business you are really in. Do you offer faster service and delivery? Do you have a specialized staff that can help clients with organization, technology, or planning? What is it that your customers (or potential customers) say about your business when they recommend it to friends? What part of the idea for your business originally got you so excited that you Couldn’t wait to tell your family about it? When it comes to identifying the heart of your business, look to your own heart. Concentrate on what your business is rather than what it does. Think back to the spiritual mission and business mission section and ponder what higher purpose you have to serve that will differentiate you in your space and allow you to generate cash flow
With the answers to these two deceptively simple questions, you will hopefully find the key that unlocks the potential of your business idea—an identity that can’t be duplicated. And it is that identity that will garner you funding, investors, and customers. But first, we’ve got to overcome one of the toughest parts of business plan authorship: writing about your strengths and weaknesses.
MIKHAIL
Mikhail was stuck. He needed to finish his business plan in the next two days for a potential investor but couldn’t get past the next section on his template: strengths and weaknesses.
Strengths and weaknesses. How could he write about that?
“Our company’s strength is me. I’m the best taco maker on earth.”
He couldn’t write that, even if it was true. It seemed too brazen, like a tedious NFL show-off player dancing wildly in the end zone. That wasn’t Mikhail’s style.
And weaknesses? How was he supposed to handle that one?
“Our company’s weakness is that management has no idea how to write a business plan.”
Again, while true, it didn’t inspire much confidence.
Acknowledging his writer’s block, Mikhail left the house and walked down to Starbucks for a toffee latte something. He got in line behind Jill, a new friend who had done well in starting and selling several businesses. He told her of his barrier to completing the plan. She offered to help, and they sat down to brainstorm with their vessels of caffeine and sugar.
Jill agreed that in the business plans she had worked on, the strengths and weaknesses section had always been hard to write. But she noted it was a positive part of the process because it forced you to think about some crucial issues:
• Why would someone really want to invest in you?
• Just what are your strengths and weaknesses?
• Are your strengths common or competitive?
• Can your weaknesses be overcome?
While talking about Mikhail’s business, and after several latte refuelings, some headway was achieved. Mikhail did indeed make excellent tacos. He infused them with all sorts of unique combinations, from mangoes to margarita-marinated mahimahi. His strengths were both common (he was good at making tacos) and competitive (he made them better than anyone else around). Jill suggested he focus on these issues as his strengths. Mikhail didn’t have to be brazen to make such claims, she said. A section beginning with “Management believes that its strengths are found in its ability to prepare unique and flavorful tacos” would work.
The weaknesses section, she said, was the trickier one. Just as strengths came in two varieties, common and competitive, so did weaknesses: They were either common or catastrophic.
After reviewing his plans some more, Jill didn’t see anything that would stand out as a catastrophic weakness. Was there a risk that the entire country would turn away from Mexican food? Not likely. Was there a risk of mad taco disease? Again, not likely. But Jill did see two common weaknesses and, she said with a smile, it was in this section where one could turn a negative into a positive.
Mikhail made a great taco. The weakness, which was common to many new businesses, was that no one knew this. The company was weak for brand awareness. This, of course, could be overcome.
The other obvious weakness was that Mikhail was a recent Russian immigrant. Who would ever expect a former Moscow bicycle mechanic to be a creative genius when it came to Mexican cuisine?
Jill saw this possible weakness as a huge potential strength. The human interest angle alone—Russian immigrant/Mexican cuisine, only in America—would help turn a lack of brand awareness into a branding strength. Mikhail was on his fourth latte and saw her vision clearly. He wanted to get back home and start writing. Jill laughed and said she understood. She also asked to see the business plan when it was finished. She knew some people who might be interested.
Before we further discuss the strengths and weaknesses section, it is important to underscore a key element of the story. Business plans aren’t always (or best) written in a vacuum. When you are blocked or struggling with a section, clear your head and seek out the perspective, insight, or just different view of someone you trust. It is amazing what human interaction can do for breaking through a tough section. And, with the benefit of additional input and review, you will find yourself drafting a better plan.
Part of gaining an intimate knowledge of your business is understanding your strengths and weaknesses (also called Core Competencies and Potential Liabilities, or Competitive Advantages and Competitive Challenges, and often given its own section). Think back to everything you’ve ever learned about competition and marketing (or skip ahead and read Chapter 10 on marketing). At their most basic, competition and marketing are about exploiting the weaknesses of other businesses and/or playing to the strengths of your own business. Analyze your business and think like a competitor. What strengths would a competitor try to downplay or neutralize? What weaknesses would a competitor want to highlight?
Once you have identified strengths and weaknesses, you can begin to plan accordingly. Are there strengths that are currently underutilized? What might you do to take advantage of your unique attributes? Are there weak points that you can shore up—through training, strategic hiring, team building, organization, or planning? What can you do now to limit the marketing options of your competitors later? Focusing on strengths and weaknesses will lead to better decisions as you proceed.
Strengths
As discussed in Mikhail’s story, there are two basic categories of strengths a business can exhibit: common and competitive. A common strength is something you do well. A competitive strength is something you do better than others in your field.
How a company exhibits strength—through corporate vision, product, operations, marketing, or sales—may change from business to business but will inevitably fall into one of the two categories. Determining whether your strengths are common or competitive can be difficult. But knowing which they are can be extremely useful. A business can improve through common strengths. A business can dominate through competitive strengths.
What are your strengths? It shouldn’t be a tough question_ to answer if you have a compelling business strategy Challenge your idea’s reason for being if it doesn’t have clear strengths.
Consider that business strengths are noticed by two groups: competitors and customers. What they see will help you understand what you’ve got. Customers (hopefully) will notice strengths in individual products (lower price, higher quality, better variety) or through positive brand associations. A strong brand can encompass a number of individual products and enhance the perceived positives of all of them. For example, the Coca-Cola brand extends to and benefits Sprite, Diet Coke, and potentially even Mr. Pibb.
Operational strengths such as logistics may not be noticed directly by customers, but they will feel the effects of such strengths. Higher efficiency will mean lower prices, faster service, and fewer mistakes. Even if customers don’t know why your product or service is better. they will certainly notice the end result. So will competitors, and soon your strength may become a common business practice for an entire industry But the point is that if both customers and competitors are noticing these things, whether directly or directly¬. you should notice them, too. Practically speaking, they should be deliberate strategies in your business plan.
Sales and distribution strengths will likely not be noticed by customers. They won’t care how many stores carry your product or how good your contracts are. All they know is whether or not they want to buy your product or service. But they can’t buy if they are not exposed to it. Distribution controls that exposure. Sales come from an ability to turn exposure into commitment. As such, sales and distribution strengths are key and an area your competitors will be sizing you up on. If they are noticing your strength, so should you.
Unique leadership skills and corporate vision can create highly advantageous employee and vendor loyalty. They can also increase sales through good distribution relationships. There can be huge benefits from such skill and vision. That said, none of it may be noticed outside the corporate structure. Until, that is, your competitors wonder why you are kicking butt while they are sitting still. Then corporate vision and leadership will be noticed by everyone with whom you do business—from the letter carrier to the sales force to the customer. Do you notice it internally now? Have you developed it into a core competency that can be considered one of your strengths? It should all flow from your mission statement as a reflection of an organization’s leader. Think back to Rich Dad’s B-I Triangle, which outlines the mission, leadership, and teamwork as the three pillars of a successful business.
There are many more examples to consider. Maybe you are charismatic or have a gift for motivating others. Maybe your honesty engenders loyalty in those with whom you partner. Maybe you were an accountant in a past life and have a true talent for budgeting on a shoestring. Your personal strengths may translate quite well to your business. Don’t overlook any strengths you might have. In business, you need every one you can get.
Think widely about your strengths, Think about what you do well. Think about the strengths of your partners or team members. (For more information, see Blair Singer’s The ABC’s of Building a Business Team That Wins, published by Warner Books in 2004.) Think about what works well in your current business, if you have one. If you aren’t currently in business, you will need to do more of that creative thinking to try to see possible strengths you might show in the future. Be real and don’t fool yourself. Talk to people you trust about what they think your strengths are. Do any of these strengths really help your business? Do they lead to lowering costs or increasing sales? These are the types of strengths to include in your business plan.
Know your competition. Read their business plans. And keep in mind they may be reading yours. A business plan is no place for details that threaten your Competitive advantage. Check out your competitors’ advertising. Know their operations as intimately as you possibly can and see if they share your strengths. If they do, your strength is common. If they don’t, your strength may be competitive, and that’s good for you!
Once you know your strengths, you will need to understand the whys and hows of those strengths. Why is it a strength that you have developed a new way to track your office supply store inventory? Is it because it makes it possible to fill orders more quickly than your competition? Or is it because your system is so user-friendly for vendors that they give you a break on your contracts? Or maybe your tracking has opened up an entirely new route for getting your product exposed to customers.
How did your skill, service, product, or idea become a strength? Was it through innovative use? Was advertising a key? Did you discover it on your own through research or study? Or did you learn it from watching how another company does things? How did your customers become aware of the benefit of your strength to them? By understanding the howl and whys, you increase your chances of repeating your strengths in other areas while playing them up throughout the company and through customer awareness. The bottom line is this: Strengths are strengths because they serve customers, which results in strengthened profits.
• If you don’t possess the right skills or strengths for a business, communicate how you surrounded yourself with the right employees or advisors. You don’t have to be a great mechanic to own a thriving automative repair business. If you have great leadership and marketing skills you can hire great mechanics.
• Public company 10-K annual reports area great source of reference material for entrepreneurial business plan. They provide benchmark costs and strategies as well as relevant industry information. Securities laws require them to disclose information that is very helpful to entrepreneurs.
Weaknesses
Examining real or potential weaknesses is not nearly as much fun as examining strengths, but it is just as important. (Don’t you hate how that usually works?) And you sure don’t want to write down all your weaknesses, print them on good paper, and then hand them to other people to read.
The problem is that while this may not be a section you want to shout from the rooftop to potential investors or lenders, it is one of the most useful sections for you as an entrepreneur. Our greatest weaknesses are our blind spots, which we rarely see in ourselves. Most great entrepreneurs surround themselves with people who tell them the good, the bad and the ugly because confronting the brutal facts is the best way to achieve progress on those elements of the business that are holding you back. Novice entrepreneurs hide issues and great entrepreneurs seek to identify issues.
Just as with strengths, weaknesses fall into two general categories: common and catastrophic. Common weaknesses are those that you share with a lot of other businesses, such as start-up hurdles, learning curves, and cash flow. As long as you are generally as good as the industry standard, you’ll likely be okay, although you may not excel. Catastrophic weaknesses are those that consistently put you at the bottom of the pile. Another way to look at it is that common weaknesses are those that can or will be overcome. You will eventually learn how to use your inventory software or hire someone to take over those duties, you will eventually work out an efficient order fulfillment system, and you will eventually have enough money to kick off that dream ad campaign. Catastrophic weaknesses are those that you can’t or won’t overcome. These may include a fatal error in a software program that can’t be remedied, the use of someone else’s intellectual property, coming in second in the race to introduce new technology, and the worst weakness of all, arrogance.
Obviously, doing the footwork for your business plan should help you eliminate many of your common weaknesses before you begin your business or before you continue to the next phase of business. But the identification of catastrophic weaknesses should make you rethink your entire plan. Do you really want to put all of your time and energy into something that has a very high likelihood of failure? Aren’t there other businesses to pursue that have a greater likelihood of success? Some of the best business plans are the ones you throw in the garbage because you learned from them and moved on to a better idea. Fatal flaws usually don’t get better.
Just as with strengths, weaknesses can be perceived by customers and/or
competitors. Your weakness could be in poor product quality, noncompeti-
tive pricing, or lack of variety. Distribution may be your weakness if you can’t
keep your products on the shelves or on enough shelves to have an impact.
Operational weaknesses are frequent killers of great ideas. Many a creative person has thought up a fabulous idea only to be thwarted by the business realties of deadlines, inventory, budgets, cash flow, customer service, distribution, and management. Knowing your weaknesses in these areas going in will help you pick partners and personnel to fill in the gaps. Don’t be afraid to admit you might not know everything. You can always build a team that does.
When you focus on weaknesses, consider that perhaps your weakness isn’t so much ‘ Vour weakness as much as a competitor’s strength. If you are in an industry ruled by one or two brands, it will be hard to break in and then break out with your own brand identity. Advertising is key for brand identity. In order to build your unique identity, advertising needs to be effective and visible. There is a crucial interplay between vision and volume that will ultimately determine the effectiveness of an ad campaign.
Figuring out your weaknesses (or potential weaknesses if you have not vet begun your business) is done pretty much the same way you determined your strengths. Talk to people you trust. Ask these honest and trustworthy people what they think you could improve in your company, your knowledge base, and your interpersonal style. It will be hard to get an honest answer. People who like you may not want to tell you how irritating it is, for example, that you always wait four days to return a call. Emphasize to these people that you need to know now, before you quit your day job and sink your life savings into this idea. Or be honest in explaining that your current business is hitting hard times and that sugarcoating could mean its demise. Never be afraid to goad people into telling you the truth, even by making them feel guilty. It is that important. Of course, when you get the truth, take it gracefully—don’t get all defensive—and be effusive in your thanks so that the people who are honest with you will offer that same frankness if you need it in the future. If you pout and sulk because they suggested that your lack of punctuality is a business weakness, you are shooting your business (and yourself) in the proverbial foot. Getting honest feedback may not be pretty or fun, but if it leads to business success, it is certainly worth it.
Be creative in your thinking. Try to look at every single aspect of your business. Try to imagine your product going from inspiration to sale, step by step, through all the parts of your company, from R&D to construction to employee benefits to management to advertising to sales, all with an eye toward improvement. If you were the competition and had this kind of inside information, how would you use it? If you were an average consumer, what would you want to see done differently? If you were not the business owner, but only thinking of buying the business, what would you want to see changed before you signed on the dotted line? If you were the ad agency hired to promote the business, what aspects of the company would you downplay or ignore? If you were an employee, how would you rate the business?
Create your business on paper. List everything your business will need to
do (or already does). From hiring personnel to maintaining equipment, from
creating a filing system to choosing a system to track your stock—put it all
down on one side of the page. Next put some thought into which areas are
weak and assign a number or letter or stars or whatever suits your fancy to sig-
nify if the weakness is small, medium, or great. Then write out what it would
take to conquer each weakness. Finally, do a simple cost-benefit analysis and
decide which of your weaknesses are worth (in time or money) eliminating.
Some weaknesses you can live with, some you can’t. The bottom line: Look
for weaknesses that lead to lowered sales or increased costs—profit-eaters.
Once you have a good handle on where your weaknesses lie, fix what you
can, decide which weaknesses are truly important to your business, and put
your plan mayebe
them in your plan. Choosing which weaknesses to include in ~,
the hardest part of the preparation process. You don’t want to include so many that your business looks like a failure before it even begins, but you don’t want to have so few as to come off looking like a naive dreamer.
Every business has weaknesses. Seasoned professionals (the kinds you’ll be asking for money from) will be able to look through your business plan and see the holes. If you want to come off as a professional as well—as the kind of person who can take an idea and turn it into a successful business—you need to prove you share that ability to analyze your business needs.
By pointing out what others would find on their own, you prove your abilities. But, more important, putting weaknesses in the plan allows you to show how you plan to eliminate or work around them. You can list a weakness and follow it with a discussion of your plans for improvement, thus showing your problem-solving skills as well as your ability to plan for the future.

Tags: business plan, business section, corporate entity, deferred maintenance, detailed description, doors, entity choice, fighting chance, good job, home owners association, insurance, interested parties, investors, level 1, level 3, limited liability company, mini storage, partnership, personal liability, personnel records, perspective, pool, preliminary research, property management agreement, property management companies, sole proprietorship, storage facilities, storage space, strengths and weaknesses, subsection, training, unit apartment buildings, warner books

You should have a pretty good understanding of the amount of work and effort that is involved in managing a property and whether it is for you. We’ve discussed the qualities you must have or develop—most importantly, assertiveness. You have analyzed your working situation and determined whether managing your own property is a reasonable and cost-effective use of your time.
If you decide that managing your own property is not for you, you now know the attributes you should look for when hiring a property management company. You’re now equipped with the tools to scrutinize another property and compare management companies’ systems. In this chapter, I will show another invaluable method for researching potential property management companies,
In that section, I showed you my own personal method of researching, which I group into three easy-to-define and easily understood categories:
Level 1 Research
Level 2 Research
Level 3 Research
Preliminary research that you can do from your own home. This would include Internet and publication research.
If Level I research leads you to like what you see, Level 2 research will be needed. This is the stage where you meet face-to-face with people in the know. Level 2 research is invaluable in verifying the information you gathered in Level 1. Level 3 research involves utilizing the experts you have already assembled on your team. Call them and run your information past them. They will give you valuable insights. This will allow you to remain objective and keep perspective.
Our intent in Portland was to purchase an apartment building and operate it through third-party management. Knowing my goal for my company to be the best property management company in the Southwest informed my decision to hire a company to manage the property in Portland.
If I spent so much time and energy in researching the property itself, why wouldn’t I spend the same amount of energy in researching who I would choose to manage my valuable asset? That is exactly what I did, and I used the three levels of research in my investigations.
Level 1 Research Finding the Players
Level I research is the preliminary stage of your process. By now you have profiled your property and determined its needs. You are ready to begin searching for property management companies that will be the best fit.
When I was first looking for a property management company for our Portland property, I started with the Internet. I love the Internet. I can’t imagine how I functioned without it. At the tip of my fingers is access to incredible amounts of useful information that would have taken weeks to assemble a few years ago.
I started my online search with the local apartment association, the Rental Housing Association of Greater Portland (RHAGP). Just by going to their Web site I was able to access the contact information of over fifteen local property management companies. I printed out the page listing them and put it in my file.
Also on the RHAGP Web site I was able to read through the local newsletter and get a feel for the players in the local property management market. I printed out back copies of the newsletter and put those in my file too, to read on the plane. I used those for my Level 2 research in order to help me narrow down my list of whom to meet when I visited the city.
Not wanting to be limited to just local property management companies, I also visited the Web sites of some regional and national companies, such as Equity and HSC. Through browsing their Web sites, I was able to determine that each one of these companies had branch offices in Portland staffed with account representatives that I could meet with. I was also able to get a general history of each company, an idea of its business philosophy, and a listing of the properties that it managed in the Portland area. I took down the contact information and addresses of these apartments so that I could tour them while I was in Portland and contact their owners.
Contacting a property owner is an invaluable tool in your search for a property management company. It’s a safe bet that someone who is entrusting the value of their investment to a property management company will shoot straight with you when you ask them about the performance of that company In this case, one of the owners informed me that he was looking to make a change and was not happy with a company’s performance. I was able to confirm this feeling with a few different owners and used that valuable information to scratch that company off my list. Remember the old saying, “You have not because you ask not”? When it comes to real estate, asking an expert a simple question can save you millions of dollars.
Now that I had a good handle on the players involved in the Portland rental market, it was time to focus my list and decide who I wanted to meet when I traveled to the city for my Level 2 research. Again, I accomplished most of this from the comfortable confines of my office chair through the magic of the Internet and my phone.
The local property management companies that I had found online all either had a Web site or a phone number. By calling or browsing their Web sites I was able to determine which companies may be a good fit for my property and which would not. Once I had my list of companies that I was interested in, I called each of them and set up an appointment with one of their account representatives, letting them know I would like to meet them at their office.
Level 2 Research—Meeting the Players
The first thing I did when I arrived in Portland was … grab one of the famed local beers. Level 2 research is a blast. You get to travel to awesome cities and meet incredible people, and it can all be written off as a business expense. To me there is nothing more exhilarating than being able to travel to a new area, meet new people who will help me achieve my business goals, and either confirm or realign my thinking about a certain market,
As I mentioned, I had set up appointments to meet with property management companies before I even left for Portland. I had three companies in mind to manage the property and planned on spending a day with each in order to observe and to really sink my teeth into their operations. I had very clear objectives in mind and very specific things that I wanted to observe.
THE OFFICE VISIT
When looking to hire a company you should always visit its offices. This isn’t about cosmetics. Who cares if it has green carpet and you prefer gray. Visiting an office is all about observing the way in which the business operates. It is also an opportunity to review some documentation that will be vital in your decision-making process.
Keep your eyes open, and observe the office staff. Does it seem organized or chaotic? Is there an air of professionalism, and are the employees dressed neatly? Check to make sure there is a clean and efficient filing system. One company I visited had files stacked on tables. Needless to say I was not impressed. If a company can’t keep their paperwork in order, they definitely won’t be able to keep your investment in order. All of these small visual clues will give you insight as to how the company will manage your property.
Ask to use a conference room and sit yourself down with the employee manual and the property policies and procedures, Read them thoroughly and ask any questions that you might have about what, and what might not, be included in the material. Don’t be afraid to ask the tough questions. This is not a time to be timid. This company may be managing your valuable asset and you should investigate and learn as much about it as possible.
Meet with the manager and asset manager that will be assigned to your property should you hire the company. Remember what I said earlier, even more than the company itself, you will be hiring the people that will be physically working on your property. Ask them about their certifications and their experience in the industry, and ask to see proof and a list of references.
Inquire into the education systems that the company has in place and determine whether they are current in their involvement with the local trade association. Have them explain their philosophy when it comes to training. Oftentimes, when employees take training or an educational course they will receive a certificate of completion. Ask to see those certificates for the people who would be working on your property. You would be surprised, but a lot of times a company will say they are actively training their employees even when they aren’t. Don’t just take a company’s word. Trust but verify
Of course you’ll want to review the company’s accounting systems. These should be spotless. Don’t get involved with a company that doesn’t have a solid accounting staff. Determine what software the company is s using. An added benefit of hiring a management company is that they should have sophisticated financial software in order to provide you the owner with a high level of financial service. If they are running reports only through a rudimentary Excel spreadsheet you might want to think twice.
Talk with the accounting manager. Ask them what types of reports you will see on a monthly and annual basis, and get a feeling for their experience level and education, as well as that of their staff.
Find out what kind of financial services the company provides. Do they pay your mortgage for you? Do they handle the insurance and tax impounds? The more sophisticated the accounting systems the more likely you will be able to enjoy your investment hands-free, and that will allow you to follow Clubhouse
Staff
• On larger properties there will be a clubhouse that generally contains common areas for residents to use and houses the staff offices.
• Ask yourself what kind of first impression you get by walking into the clubhouse. Is it clean and free of clutter?
• Is it clear where the rental offices are, or do you have to hunt around hoping to find someone? Nothing is worse than a potential resident who has been touring apartments all day becoming frustrated because they can’t find a leasing agent.
• Observe whether there is rental material out for potential residents to review such items as floor plans, brochures, and rental pricing.
• When you walk into a rental office, someone should approach you immediately.
• Observe the staff, taking note of their appearance and demeanor. A good company will have employees who are professionally dressed, energetic, and give the impression that they are genuinely excited to show you the property.
• If you have a chance, observe the way in which the staff interacts with residents when they come into the office. A good way to do this is by shopping a property on the first of the month. Everyone will be coming in to pay rent.
• Ask lots of questions. Make sure the employees are well versed in not only the property but also the company’s policies and procedures. Unless they are newly hired, if a leasing agent can’t even tell the rent on the property floor plans without referring to a cheat sheet, or tell you how many units the property has, that may be a troubling sign, Collateral/ • On larger properties there will generally be
Marketing Materials marketing materials such as brochures, flyers, and business cards.
• Make sure these material are professional-looking, and not poor copies that appear in-house, Collateral is a huge factor in making a solid first impression. Never forget that people are not just renting an apartment, but a lifestyle.
• The marketing materials should be placed in an open and readily accessible place.
• Verify the accuracy of the marketing materials. Nothing makes a worse impression than having a leasing agent tell you that a rental amount or lease special is different from what is printed. Not updating printed materials is a serious sign of laziness.
Tours/Models • The most important factor for a prospective resident in determining whether to rent or not will be the model walk or touring of units.
• Make sure that the person who will be touring you gets all your information and fills out a guest card.
• Ask to see the models or the units for rent and Observe the sales presentation.
• Observe the condition of the models or units. Are they clean and stylish? Do they get you excited about living at the community, or are they forgettable?
• Is the person touring you commanding the tour, or do they seem uncomfortable?
• Again, ask lots of questions. Don’t interrogate them, but do pay attention to whether the employee remains attentive to your questions or whether they seem to be getting impatient.
• After the tour, the leasing agent should have immediately tried to get you to lease. The hard close.
Office
• While you don’t need to apply for an apartment, you should show interest and sit down with the leasing agent.
• Observe the condition of their offices. Are there files stacked everywhere, cups of half-finished coffee, and papers littering the desk? Do they have to make a space for you? Any signs of disorganization are bad.
Once you have visited the property management offices, talked to the staff, received advice from other owners, reviewed the policies and procedures, and shopped or visited sample properties, you will have a pretty good idea of who will be a good fit to manage your property. Now you should grab one more of the local brews or visit one more local attraction and head back home to begin the third level of research.
Level 3 Research —Picking Your Player
You can think of picking your management company like the NBA draft.
NBA players are valuable commodities. Think about all the work and preparation that goes into scouting an NBA player. Some teams follow a basketball player from the time they are in high school all the way through college—if they go to college. In some rare cases, players are scouted from junior high and on.
Teams will send scouts all over the country, paying them high salaries, keeping them in fancy hotels, and feeding them steak dinners. All this is done so that they can determine which player the team will eventually draft in order to pay even higher salaries, provide stays at even fancier hotels, and pony up on even steak-ier dinners. NBA teams will spend a lot of money in research just to try to pick the one player that will take them to the next level.
Why all the fuss? The NBA is a billion-dollar business, and the stakes are high when they get to the draft table and it’s their turn to pick a player. You may think that the player salaries are out of control, and you might be right. The fact of the matter is that the players make the owners insane amounts of money—if they play well. All the money a team invests in researching players comes back many times over if they make the right pick. Unfortunately, the odds aren’t that great.
Thankfully the odds are much better when you are picking a property management company, but the stakes are just as high. If you don’t do your research correctly or neglect to do it at all, then the results could be staggering. Remember the property in West Phoenix that my company took over because of our business relationship with the owner? That property was just 100 units, yet it cost them millions of dollars. They didn’t draft the right player, and the property failed because of it.
When hiring a third-party property management company I cannot stress enough how imperative it is that you make a wise, well-informed decision. That is why it is vitally important that you consult your team. Don’t just go by your observations. You need another set of eyes. That is just a sound business principle. Even in writing this book, I had a dozen close friends read the drafts and give me their honest opinions. If I had just finished a first draft and said, “This is as good as it can be,” I wouldn’t have felt good about the final draft.
Level 3 research is the time when you will be able to run your findings by your team of experts. Talk to your property management expert and show them your thought process on the companies that you will be picking. They may have some valuable insights that you might have missed. Have a lawyer review contracts. They will be able to help you avoid any hidden traps. Call and talk to industry players in the market where your property is located. They will have a good knowledge of the local companies and will be able to confirm or modify your findings. just by doing this, I guarantee you will be able to remove some companies from your list, and feel just that much more confident that you can make the right choice for the new player on your investment team.
And thank goodness that the cost for your research is a minor fraction of the cost an NBA team spends in their scouting. The biggest costs are the plane ticket and the hotel. These are a small investment for how many returns a solid property management company will afford. I love the process of researching, and I think you will too.
The Management Contract
Once you have completed your three levels of research and settled on the management company for your property, you will come to the hiring stage. This will involve negotiating the management contract.
First off, you should always have an attorney review any contract that you are going to sign. An attorney will be able to tell straightaway whether a company is trying to fleece you with hidden clauses or trick fee structures.
That said, there a few things that you should definitely keep an eye out for when evaluating a property management agreement.
FEE STRUCTURE
Be sure never to sign an agreement with just a flat fee structure. If a management company is not willing to put a stake in the financial success of your property, chances are they simply aren’t worth the paper their contract is written on. A company that charges a percentage fee of the income collected will be motivated to collect as much income as possible. That will mean more money in their pocket—and yours. That’s what I like to call a symbiotic relationship.
Also, it’s important to remember that the percentages will vary depending on the market your property is located in. If all the property management companies in a market are charging around 6 percent for a 100-unit building, it will do you no good to try to negotiate the fee down to 4 percent. It is your responsibility to know the market your property is in and determine what a fair percentage is.
ACCOUNTING SYSTEMS
Be sure the contract is clear on when rent will be collected, when it will be deposited, and where. It is important to make sure that your money will not be commingled with any other property’s money in the management portfolio.
Determine if the agreement is clear that you will have financial control over the property, and that you can set the guidelines on spending habits for the property. Most likely according to the approved budget, there should also be clear expectations for when and how the management company will report to you on a monthly and annual basis with financials. Dates should be clear as to when all financial reports are due, and it should be no later than the 15th of each month for the previous month’s operations. Be clear on the fees that should be collected and the dates on which they should be collected.
RESPONSIBILITIES
The management agreement should spell out clearly the responsibilities of the management company, and should have legal language for you as the owner if those responsibilities are not met. Remember the importance of getting everything in writing. Don’t settle for generalizations. It will be much better for both you and the company you are hiring if the expectations are detailed in the management agreement.
EXPIRATION
Finally, it is important to have a clear timeline set in the management agreement. Don’t sign multiyear agreements that lock you into a contract with penalties for early cancellation. The term of the agreement should be comfortable for you and match the needs of your property Make sure to note whether the management agreement has an automatic renewal clause. These are not necessarily bad in themselves, but you as the owner should remember the date so that you can review the performance of the company throughout the year before the contract renewal goes into effect.
Owner and Management Company: A Symbiotic Relationship
In the end, remember that you are responsible for your property and how it operates. A good management company will go a long way in taking the burden off you, but don’t think you can disappear from the picture and blame the management company if something goes wrong.
Part of the beauty of having a professional management company run your property for you is that you don’t have to sweat the details. Rather, you can focus on the few things that interest you such as financial review Make sure to meet frequently with your management team, and have them give you property updates so that you can address any concerns about the way in which your property is being managed.
If you follow these steps and do your homework, you will be able to enjoy the symbiotic relationship of owner and management company. Your investment will grow in value, and you will become freer to follow your passions while your wealth multiplies. I can’t think of anything better than that.

Tags: accounting, agent, apartment building, assertiveness, attributes, best property management company, certificate, education, factor, good understanding, industry, insights, involvement, leasing, level 1, level 3, marketing, objective, personal method, perspective, preliminary research, property, property management companies, publication research, southwest, third party management, training