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PostPosted: Thu Oct 01, 2009 4:48 am 
Best business practices for home party plan business are the same as for any corporation. All businesses will benefit from the best business practice of a business plan. A business plan for a home business will insure success just like it would for a major corporation. Business plans are maps to follow to achieve your goals.

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PostPosted: Thu Oct 01, 2009 8:03 pm 
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Joined: Thu Mar 15, 2007 10:29 am
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Location: Melbourne AU
You're right — up to a point.

A home-party plan seller, or a network marketer, is really a commission sales representative — part of the company's outsourced sales team.

Nobody in business would seriously suggest that a sales rep for a large corporation should have a business plan.

But it still makes sense, particularly because you're independent and have to take responsibility for so many aspects of a regular home-based business.

You'll find some useful insights into business plans at http://profitclinic.com/bizplans

John

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PostPosted: Wed Mar 10, 2010 2:32 pm 
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Location: Melbourne AU
Quote:
A business plan for a home business will insure success just like it would for a major corporation.


I can't agree that having a business plan will insure success. Most business plans created by small and medium businesses are really nothing more than a sales pitch for funding from a bank, venture capital firm or other lender.

Once the funding is obtained, those "window dressing" pseudo business plans are relegated to a bottom drawer.

Why?

Because they're mostly meaningless outside the context of obtaining funding. You can't use them to actually RUN the business because they're essentially DESCRIPTIONS of what the business is about, and descriptions do not deliver control. DEFINITIONS provide control. There's a HUGE difference between the two.

Over the past 30 years my firm has evaluated hundred of small and home-based business plans, and I think I could count on the fingers of one hand the number that were REAL business plans, rather than window dressing and security blankets for nervous loan managers!

To prove our point we once (1996) created "business plans" for SIX consulting clients who needed loans from banks.

The executive summaries and the financial statements were valid and detailed. Most of the rest of these documents amounted to gibberish! (Our contention was that only these two sections were ever really looked at by funding managers -- they were more concerned with the thickness and weight of the "business plans" than the content outside those two sections.)

We put a note on each meaningless (but beautifully-presented) page saying that, if the reader couldn't make sense of the content, to call us for an explanation.

All six clients got their funding. Nobody called us for an explanation. Nothing was ever said to our clients.

As a sequel to this test, I presented this case study to the national small business council of the CPA Society of Australia a year or so later. One member of the group took furious notes and sought me out afterward. He told me that my comments really alarmed him, because he was the state manager in charge of executive training for one of Australia's Big Four banks. But he was relieved to know that his bank could not have been involved because of the quality of their training for managers.

He was devastated to learn that his bank had been involved in four of the six loans granted!

If you business plan won't give you control over the direction and character of your business, it's not worth the paper it's printed on. Most are little more than a frustrating, disheartening waste of time, energy, hope, money and resources -- the wrong thing, done for the wrong reasons. And they become a constant, silent reproach to the business owner, because they just sit there, gathering dust, unable to be properly implemented.

It's not that they won't work. They CAN'T work!

It's not just the fact that they're dull, boring and useless, either. They're downright dangerous, for four very important reasons:

1. They undermine your faith in the planning process, which is indispensable to small business survivial and prosperity.

2. They undermine your confidence in yourself.

3. When you try to make them work, you end up doing things for the wrong reasons.(Whether they're the right things or the wrong things to do doesn't really matter. If you do them for the wrong reasons, you can't succeed. It's that simple.)

4. They're based on BIG business models and methods, which often have little or no relevance to small business.

The first reason why most small business Business Plans can't and don't work is that they're the wrong things to do, done for the wrong reasons. Here's a short, short list of WRONG reasons for preparing a Business Plan. There are plenty of others just like them.
  • Your accountant recommends that you should have one.
  • Your banker insists on you supplying one with a loan application.
  • You read or heard somewhere about how important they are.
  • Your competitor has one.
  • That short course on Small Business Management helped you do one.
Almost every small business Business Plan we see is based on BIG business planning models and methods. There are all kinds of reasons why they won't work in small business, but the most important reason is that they create the wrong perspectives which, in turn, create the wrong attitudes and behaviour for small business success.

There's a widespread assumption amongst small business people that BIG business knows what it's doing. In part, that's true. But only when it comes to doing BIG business -- not small business. But even then, it ends up doing the wrong things for the wrong reasons -- and creating widespread suspicion and resentment of its motives and methods.

You can't afford those kinds of negative perceptions.

You can learn more here, free of charge.

John

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PostPosted: Thu Sep 08, 2011 5:29 am 
I think so a good business plan is most important for starting any kind of business, however money is also important but there are many businesses where we don’t need to invest big amount of money. If you have a good business plan then you can be successful in the business.


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 Post subject: home party
PostPosted: Fri Nov 04, 2011 9:25 pm 
As a Home Party Consultant, I see and hear the stress and pressure to increase cash flow in your home party business. Many of you are questioning not only your skills, but also your decision to get involved with a party plan company.

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PostPosted: Tue Jan 31, 2012 11:17 am 
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Posts: 4
Hi,

I always thought that a good business plan is key to a successful business and i still believe that you should have one even if you don not need loan from the bank!! Should be realistic on your plan and your goals...


Thank you

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PostPosted: Mon Apr 09, 2012 8:52 am 
Selecting and providing in new professionals to your party strategy market is a main concentrate for every revenue supplier.Most network marketing party professionals fulfill the best aspect of their new advisor brings at the property celebration.


Moderator comment:
I'm not sure whether your English is just really bad or if it's being mangled by article spinning software. Either way, it's barely comprehensible and too difficult for our readers to make sense of. Further posts that are too hard to make sense of will be deleted.


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