Business Plans that Work: http://books.google.com/books?id=XyqMwPj8NhsC&dq=business+plans+that+work&pg=PP1&ots=4aNN549ujb&source=bn&sig=z8JBLqcVc-cWY4XySS4u3YiRiQg&hl=en&sa=X&oi=book_result&resnum=4&ct=result#PPP1,M1

Business Plan Textbook

Our group likes Business Plans that Work (2004) by Jeffery Timmons, Andrew Zacharakis, and Stephen Spinelli, because it offers an algorithm for converting business ideas into documents that will convince investors of Trader’s Market’s worthiness and security.  Business Plans that Work is a better text than others our group has seen because of the clarity of the blueprints for the construction of each of the business plan documents.  Each chapter moves through a different portion of common business plans and outlines what start-ups need to consider and plan for before asking investors for a sizable loan.

The feature of Business Plans that Work that is especially good for our group is the assumption by the authors that the reader is interested in building the size of business that we are seeking.  Many of the businesses being constructed within the text are seeking amounts around $500,000, and that is approximately the size of loan to match the scale of business which we are seeking for the launch of our store.  The text also tailors each of the business plan documents to fit with the financial reports needed to justify the need for borrowing this much money.

Beyond the reasons already explained, our group selected Business Plans that Work because it is an affordable book that two of our group members are familiar with and have used successfully in previous Purdue Entrepreneurship classes.  Both Tom and Brian are familiar with how to use the formats provided to create coherent plans for both investors and employees to read.  For creating Trader’s Market’s documents in class, our group knows that we need to create documents which are able to briefly describe complex concepts in a matter which excite and motivate investors to supply Trader’s Market with ample start-up capital.  We believe that this text will help us do just that.

We will be sure to discuss any other matters over the textbook in our meeting on Thursday.