Wednesday 18 September 2019

Top 20 Best Tech Websites & Blogs

Top 20 Best Tech Websites & Blogs

At this age of modern technology where new gadgets and digital apps are developed or created each day, tech websites and blogs come in handy.Internet users would know these new technologies through reading blogs.
These are the 10 most ranked pages on Alexa and Google:

1. TechCrunch.com


Tech Crunch is considered as one of the well knows and popular website for providing quality information related to new gadgets and technology news. Also, Tech Crunch is one of the leading technology media on the internet as well as one of the most famous technology blog online. Mainly this provides articles related to internet portals, latest tech product reviews and news etc.

2. TheNextWeb.com


The Next Web is another leading blog on the internet which provides technology stuff on the daily basis to internet users. Mostly it covers guides and topics related to business, culture and technology. Also, it publishes useful articles for upcoming gadgets. It is highly recommended to must read and visit this website for next generation gadgets. Interesting thing is that it receives seven million monthly visits and more than ten million page views per month.

3. Wired.com


Wired.com is third most popular media on the internet providing news related to latest trends of technology. Also, it publishes helpful guides related to latest or upcoming gadgets, science, entertainment, business and design etc. Once you visit this website, you will surely be going to love Wired.com because of publishing quality stuff.

4. Tech2.com


Tech2.com mostly shares articles and guides related to new gadgets such as TV, mobile, tablets, laptops and gaming devices as well. Apart from this it also covers podcasts, videos and photos related to latest technology trends. Also, it comes really handy for comparing websites or new gadgets at the same time on this website easily. You will surely be going to get a lot of valuable information through reading this website on the daily basis.

5. Gizmodo.com


Gizmodo.com is another leading source on the internet which mostly covers gadgets related news and guides and is one of the best online portals for gadgets lovers. It mainly covers the latest news related to gadgets, best guides for gadgets and also tutorials relate to gadget. If you are a gadget lover, then this websites really worth’s and you must need to check out this website for finding latest and upcoming gadgets news.

6. Mashable.com


As most of you might have idea or know about the one of the top and much famous technology blog on the internet which covers latest technology news, gadgets, science and interesting stuff and provides helpful guides to the internet users. The best part about this website is that you can also check out videos related to latest technology news. Also, it receives around more than twenty million unique visits and has more than six million social media followers.

7. TheVerge.com


The Verge is another most popular and famous technology blog for tech lovers which are mainly interesting in reading tech news, product reviews and products information etc. Also, it shares interesting guides about the technology and how it affects the society.

8. DigitalTrends.com


Digital Trends is another largest hub of technology, computer gaming devices and interesting lifestyle guides. It also covers guides related to music, cars and photography etc and sometimes writes about the Apple news as well.

9. TechRadar.com


This is most popular technology news and gadgets related website on the internet. Also, it provides helpful guides related to tablets, laptops and mobiles etc. Also, it rates the different kind of Smartphone devices, mobiles as well as tablets also. The best thing is that if you are android lover, then this website also publishes android related news and guides on the website.

10. Technorati.com


Technorati is useful and most popular technology website in the world of internet which helps bloggers and tech blog owners to get more views on their website and provides a lot of quality technology guides and news. Apart from this it also covers guides related to android, apple, gadgets etc. and much more.

11. BusinessInsider.com


Business Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. The flagship vertical, Silicon Alley Insider, launched on July 19, 2007, led by DoubleClick founders Dwight Merriman and Kevin Ryan and former top-ranked Wall Street analyst Henry Blodget.

12. Macrumors.com


MacRumors.com is a website focused on Apple news and rumors. MacRumors attracts a broad audience of both consumers and professionals interested in the latest technologies and products. The site also boasts an active community focused on purchasing decisions and technical aspects of the iPhone, iPod and Macintosh platforms.

13. Venturebeat.com


VentureBeat is a media company obsessed with covering amazing technology and why it matters in our lives. From the most innovative tech and gaming companies — and the incredible people behind them — to the money fueling it all, we’re devoted to exhaustive coverage of the technology revolution.

14. Blog.us.playstation.com


Recognized as a global leader in interactive and digital entertainment, Sony Interactive Entertainment (SIE) is responsible for the PlayStation brand and family of products. PlayStation has delivered innovative products to market since the launch of the first PlayStation in Japan in 1994. The PlayStation family of products and services includes PlayStation 4, PlayStation VR, PlayStation Store, PlayStation Now and PlayStation Vue. SIE also oversees Worldwide Studios, which is responsible for developing exclusive, world-class games for PlayStation. Headquartered in San Mateo, California, SIE is a wholly-owned subsidiary of Sony Corporation and has regional headquarters in London and Tokyo.

15. Gigaom.com


Gigaom is technology research and analysis firm. Our focus is on helping business leaders understand the implications of emerging technologies and their impacts on business, media, and society.

16. Engadget


Engadget is the definitive guide to this connected life.Technology isn’t all about bits and processors. It’s the car with no driver, human organs printed in a lab and leisurely flights into space. It’s the future and we’re here to tell you all about it.
Since 2004, Engadget has exhaustively covered cutting edge devices and the technology that powers them. As we enter our second decade, we’re looking beyond the gadgets themselves to explore how they impact our lives.

17. Slashgear.com


Dedicated to highlighting the latest and greatest in personal technology since 2005, SlashGear covers everything from cutting-edge tech gear to the latest digital lifestyle trend. Distinctive, informative and fresh, Slashgear brings you device information and reviews you can trust as well as thought-provoking commentary.

18. Ubergizmo.com


Ubergizmo loves gadgets and the technologies that make the gadgets go.They talk about electronics in a way that everyone can relate to. From design, to user interface to practicality, pricing and competition, they make lists to help you decide what gadgets you need (or don’t).

19. Droid-life.com


Droid-life has the greatest Android community in the world. They talk general news, feature apps, review phones, and even teach you how to hack a little. If you were looking for the best place to learn about Android and talk with like-minded folks about all things tech, then Droid Life is for you.

20. Eurogamer.net


Eurogamer.net was founded in September 1999 and has been covering video games ever since. The site began life with a PC focus and a keen interest in the competitive FPS scene of the time, but over the years it has grown to cover every aspect of gaming – PC, console, indie, board games and anything else that the team and the site’s readers find interesting.

List of the 31 most commonly asked interview questions and answers


While we unfortunately can't read minds, we'll give you the next best thing: list of the 31 most commonly asked interview questions and answers.
While we don't recommend having a canned response for every interview question (in fact, please don't), we do recommend spending some time getting comfortable with what you might be asked, what hiring managers are really looking for in your responses, and what it takes to show that you're the right man or woman for the job.
Consider this list your interview question study guide.

1. Can you tell me a little about yourself?

This question seems simple, so many people fail to prepare for it, but it's crucial. Here's the deal: Don't give your complete employment (or personal) history. Instead give a pitch—one that’s concise and compelling and that shows exactly why you’re the right fit for the job. Start off with the 2-3 specific accomplishments or experiences that you most want the interviewer to know about, then wrap up talking about how that prior experience has positioned you for this specific role.
2. How did you hear about the position?
Another seemingly innocuous interview question, this is actually a perfect opportunity to stand out and show your passion for and connection to the company. For example, if you found out about the gig through a friend or professional contact, name drop that person, then share why you were so excited about it. If you discovered the company through an event or article, share that. Even if you found the listing through a random job board, share what, specifically, caught your eye about the role.
3. What do you know about the company?
Any candidate can read and regurgitate the company’s “About” page. So, when interviewers ask this, they aren't necessarily trying to gauge whether you understand the mission—they want to know whether you care about it. Start with one line that shows you understand the company's goals, using a couple key words and phrases from the website, but then go on to make it personal. Say, “I’m personally drawn to this mission because…” or “I really believe in this approach because…” and share a personal example or two.
4. Why do you want this job?
Again, companies want to hire people who are passionate about the job, so you should have a great answer about why you want the position. (And if you don't? You probably should apply elsewhere.) First, identify a couple of key factors that make the role a great fit for you (e.g., “I love customer support because I love the constant human interaction and the satisfaction that comes from helping someone solve a problem"), then share why you love the company (e.g., “I’ve always been passionate about education, and I think you guys are doing great things, so I want to be a part of it”).
5. Why should we hire you?
This interview question seems forward (not to mention intimidating!), but if you're asked it, you're in luck: There's no better setup for you to sell yourself and your skills to the hiring manager. Your job here is to craft an answer that covers three things: that you can not only do the work, you can deliver great results; that you'll really fit in with the team and culture; and that you'd be a better hire than any of the other candidates.
6. What are your greatest professional strengths?
When answering this question, interview coach Pamela Skillings recommends being accurate (share your true strengths, not those you think the interviewer wants to hear); relevant (choose your strengths that are most targeted to this particular position); and specific (for example, instead of “people skills,” choose “persuasive communication” or “relationship building”). Then, follow up with an example of how you've demonstrated these traits in a professional setting.
7. What do you consider to be your weaknesses?
What your interviewer is really trying to do with this question—beyond identifying any major red flags—is to gauge your self-awareness and honesty. So, “I can't meet a deadline to save my life” is not an option—but neither is “Nothing! I'm perfect!” Strike a balance by thinking of something that you struggle with but that you’re working to improve. For example, maybe you’ve never been strong at public speaking, but you've recently volunteered to run meetings to help you be more comfortable when addressing a crowd.
8. What is your greatest professional achievement?
Nothing says “hire me” better than a track record of achieving amazing results in past jobs, so don't be shy when answering this interview question! A great way to do so is by using the S-T-A-R method: Set up the situation and the task that you were required to complete to provide the interviewer with background context (e.g., “In my last job as a junior analyst, it was my role to manage the invoicing process”), but spend the bulk of your time describing what you actually did (the action) and what you achieved (the result). For example, “In one month, I streamlined the process, which saved my group 10 person-hours each month and reduced errors on invoices by 25%.”
9. Tell me about a challenge or conflict you've faced at work, and how you dealt with it.
In asking this behavioral interview question, “your interviewer wants to get a sense of how you will respond to conflict. Anyone can seem nice and pleasant in a job interview, but what will happen if you’re hired and Gladys in Compliance starts getting in your face?” says Skillings. Again, you'll want to use the S-T-A-R method, being sure to focus on how you handled the situation professionally and productively, and ideally closing with a happy ending, like how you came to a resolution or compromise.
10. Where do you see yourself in five years?
If asked this question, be honest and specific about your future goals, but consider this: A hiring manager wants to know a) if you've set realistic expectations for your career, b) if you have ambition (a.k.a., this interview isn't the first time you're considering the question), and c) if the position aligns with your goals and growth. Your best bet is to think realistically about where this position could take you and answer along those lines. And if the position isn’t necessarily a one-way ticket to your aspirations? It’s OK to say that you’re not quite sure what the future holds, but that you see this experience playing an important role in helping you make that decision.
11. What's your dream job?
Along similar lines, the interviewer wants to uncover whether this position is really in line with your ultimate career goals. While “an NBA star” might get you a few laughs, a better bet is to talk about your goals and ambitions—and why this job will get you closer to them.
12. What other companies are you interviewing with?
Companies ask this for a number of reasons, from wanting to see what the competition is for you to sniffing out whether you're serious about the industry. “Often the best approach is to mention that you are exploring a number of other similar options in the company's industry,” says job search expert Alison Doyle. “It can be helpful to mention that a common characteristic of all the jobs you are applying to is the opportunity to apply some critical abilities and skills that you possess. For example, you might say 'I am applying for several positions with IT consulting firms where I can analyze client needs and translate them to development teams in order to find solutions to technology problems.'”
13. Why are you leaving your current job?
This is a toughie, but one you can be sure you'll be asked. Definitely keep things positive—you have nothing to gain by being negative about your past employers. Instead, frame things in a way that shows that you're eager to take on new opportunities and that the role you’re interviewing for is a better fit for you than your current or last position. For example, “I’d really love to be part of product development from beginning to end, and I know I’d have that opportunity here.” And if you were let go? Keep it simple: “Unfortunately, I was let go,” is a totally OK answer.
14. Why were you fired?
OK, if you get the admittedly much tougher follow-up question as to why you were let go (and the truth isn't exactly pretty), your best bet is to be honest (the job-seeking world is small, after all). But it doesn't have to be a deal-breaker. Share how you’ve grown and how you approach your job and life now as a result. If you can position the learning experience as an advantage for this next job, even better.
15. What are you looking for in a new position?
Hint: Ideally the same things that this position has to offer. Be specific.
16. What type of work environment do you prefer?
Hint: Ideally one that's similar to the environment of the company you're applying to. Be specific.
17. What's your management style?
The best managers are strong but flexible, and that's exactly what you want to show off in your answer. (Think something like, “While every situation and every team member requires a bit of a different strategy, I tend to approach my employee relationships as a coach...”) Then, share a couple of your best managerial moments, like when you grew your team from five to 15 or coached an underperforming employee to become the company's top salesperson.
18. What's a time you exercised leadership?
Depending on what's more important for the the role, you'll want to choose an example that showcases your project management skills (spearheading a project from end to end, juggling multiple moving parts) or one that shows your ability to confidently and effectively rally a team. And remember: “The best stories include enough detail to be believable and memorable,” says Skillings. “Show how you were a leader in this situation and how it represents your overall leadership experience and potential.”
19. What's a time you disagreed with a decision that was made at work?
Everyone disagrees with the boss from time to time, but in asking this interview question, hiring managers want to know that you can do so in a productive, professional way. “You don’t want to tell the story about the time when you disagreed but your boss was being a jerk and you just gave in to keep the peace. And you don’t want to tell the one where you realized you were wrong,” says Peggy McKee of Career Confidential. “Tell the one where your actions made a positive difference on the outcome of the situation, whether it was a work-related outcome or a more effective and productive working relationship.”
20. How would your boss and co-workers describe you?
First of all, be honest (remember, if you get this job, the hiring manager will be calling your former bosses and co-workers!). Then, try to pull out strengths and traits you haven't discussed in other aspects of the interview, such as your strong work ethic or your willingness to pitch in on other projects when needed.
21. Why was there a gap in your employment?
If you were unemployed for a period of time, be direct and to the point about what you’ve been up to (and hopefully, that’s a litany of impressive volunteer and other mind-enriching activities, like blogging or taking classes). Then, steer the conversation toward how you will do the job and contribute to the organization: “I decided to take a break at the time, but today I’m ready to contribute to this organization in the following ways.”
22. Can you explain why you changed career paths?
Don't be thrown off by this question—just take a deep breath and explain to the hiring manager why you've made the career decisions you have. More importantly, give a few examples of how your past experience is transferrable to the new role. This doesn't have to be a direct connection; in fact, it's often more impressive when a candidate can make seemingly irrelevant experience seem very relevant to the role.
23. How do you deal with pressure or stressful situations?
"Choose an answer that shows that you can meet a stressful situation head-on in a productive, positive manner and let nothing stop you from accomplishing your goals," says McKee. A great approach is to talk through your go-to stress-reduction tactics (making the world's greatest to-do list, stopping to take 10 deep breaths), and then share an example of a stressful situation you navigated with ease.
24. What would your first 30, 60, or 90 days look like in this role?
Start by explaining what you'd need to do to get ramped up. What information would you need? What parts of the company would you need to familiarize yourself with? What other employees would you want to sit down with? Next, choose a couple of areas where you think you can make meaningful contributions right away. (e.g., “I think a great starter project would be diving into your email marketing campaigns and setting up a tracking system for them.”) Sure, if you get the job, you (or your new employer) might decide there’s a better starting place, but having an answer prepared will show the interviewer where you can add immediate impact—and that you’re excited to get started.
25. What are your salary requirements?
The #1 rule of answering this question is doing your research on what you should be paid by using sites like Payscale and Glassdoor. You’ll likely come up with a range, and we recommend stating the highest number in that range that applies, based on your experience, education, and skills. Then, make sure the hiring manager knows that you're flexible. You're communicating that you know your skills are valuable, but that you want the job and are willing to negotiate.
26. What do you like to do outside of work?
Interviewers ask personal questions in an interview to “see if candidates will fit in with the culture [and] give them the opportunity to open up and display their personality, too,” says longtime hiring manager Mitch Fortner. “In other words, if someone asks about your hobbies outside of work, it’s totally OK to open up and share what really makes you tick. (Do keep it semi-professional, though: Saying you like to have a few beers at the local hot spot on Saturday night is fine. Telling them that Monday is usually a rough day for you because you’re always hungover is not.)”
27. If you were an animal, which one would you want to be?
Seemingly random personality-test type questions like these come up in interviews generally because hiring managers want to see how you can think on your feet. There's no wrong answer here, but you'll immediately gain bonus points if your answer helps you share your strengths or personality or connect with the hiring manager. Pro tip: Come up with a stalling tactic to buy yourself some thinking time, such as saying, “Now, that is a great question. I think I would have to say… ”
28. How many tennis balls can you fit into a limousine?
1,000? 10,000? 100,000? Seriously?
Well, seriously, you might get asked brainteaser questions like these, especially in quantitative jobs. But remember that the interviewer doesn’t necessarily want an exact number—he wants to make sure that you understand what’s being asked of you, and that you can set into motion a systematic and logical way to respond. So, just take a deep breath, and start thinking through the math. (Yes, it’s OK to ask for a pen and paper!)
29. Are you planning on having children?
Questions about your family status, gender (“How would you handle managing a team of all men?”), nationality (“Where were you born?”), religion, or age, are illegal—but they still get asked (and frequently). Of course, not always with ill intent—the interviewer might just be trying to make conversation—but you should definitely tie any questions about your personal life (or anything else you think might be inappropriate) back to the job at hand. For this question, think: “You know, I’m not quite there yet. But I am very interested in the career paths at your company. Can you tell me more about that?”
30. What do you think we could do better or differently?
This is a common one at startups (and one of our personal favorites here at The Muse). Hiring managers want to know that you not only have some background on the company, but that you're able to think critically about it and come to the table with new ideas. So, come with new ideas! What new features would you love to see? How could the company increase conversions? How could customer service be improved? You don’t need to have the company’s four-year strategy figured out, but do share your thoughts, and more importantly, show how your interests and expertise would lend themselves to the job.
31. Do you have any questions for us?
You probably already know that an interview isn't just a chance for a hiring manager to grill you—it's your opportunity to sniff out whether a job is the right fit for you. What do you want to know about the position? The company? The department? The team?
You'll cover a lot of this in the actual interview, so have a few less-common questions ready to go. We especially like questions targeted to the interviewer (“What's your favorite part about working here?") or the company's growth (“What can you tell me about your new products or plans for growth?")


Friday 10 August 2018

Virtual fitting room

Facebook ads have been haunting us for a while now. However, this is probably the only update to Facebook ads that you are going to love. The social media platform is adding a little augmented reality (AR) magic to the ads, to turn it into a sort of virtual fitting room. The feature is still being tested with some users in the US.
Essentially, after this feature rolls out, when you see an ad, you will be able to try the advertised products on virtually. Pretty much how Lenskart allows you to put on the glasses on the website itself.
Another example would be, if you see an add of a shirt on your Facebook News Feed, you will soon have an option to ‘Tap to Try On’. There you can click your own picture, upload and then try the different advertised products, for a better idea on how it looks on you. If you look how a product looks on you, you can also add these pictures to your Facebook Stories.
These ads will cater to fashion accessories, cosmetics, and furniture.
As mentioned above, the feature is still being tested. The company hasn’t yet said anything about when the feature can be expected to be officially rolled out. Facebook shows off the new AR ad with a pair of Michael Kors sunglasses.
Ever since Facebook bought the augmented reality face filter app MSQRD in 2016, the social media platform has been adding a lot of filters to Facebook, Messenger and Instagram. And now bringing MSQRD’s expertise to Facebook ads is nothing optimal benefit of the acquisition.
Facebook has also been working on expanding shopping on Instagram. Up till now, Instagram only allowed businesses and brands to tag their products on the feed, but last month, Facebook added the ability for these accounts to tag products on Instagram Stories as well. However, these tag stickers are currently limited to a handful of brands, but the platform promised to roll it out to others soon.

An Introduction to Business Plans

An Introduction to Business Plans

Why is a business plan so vital to the health of your business? Read the first section of our tutorial on How to Build a Business Plan to find out.



An Introduction to Business Plans
Image credit: Ken Teegardin | Flickr

Opinions expressed by Entrepreneur contributors are their own.
A business plan is a written description of your business's future. That's all there is to it--a document that desribes what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.
Business plans can help perform a number of tasks for those who write and read them. They're used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.
So what's included in a business plan, and how do you put one together? Simply stated, a business plan conveys your business goals, the strategies you'll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture and keep it going until it breaks even.
Sound impressive? It can be, if put together properly. A good business plan follows generally accepted guidelines for both form and content. There are three primary parts to a business plan:
  • The first is the business concept, where you discuss the industry, your business structure, your particular product or service, and how you plan to make your business a success.
  • The second is the marketplace section, in which you describe and analyze potential customers: who and where they are, what makes them buy and so on. Here, you also describe the competition and how you'll position yourself to beat it.
  • Finally, the financial section contains your income and cash flow statement, balance sheet and other financial ratios, such as break-even analyses. This part may require help from your accountant and a good spreadsheet software program.
Breaking these three major sections down even further, a business plan consists of seven key components:
  1. Executive summary
  2. Business description
  3. Market strategies
  4. Competitive analysis
  5. Design and development plan
  6. Operations and management plan
  7. Financial factors
In addition to these sections, a business plan should also have a cover, title page and table of contents.
How Long Should Your Business Plan Be?
Depending on what you're using it for, a useful business plan can be any length, from a scrawl on the back of an envelope to, in the case of an especially detailed plan describing a complex enterprise, more than 100 pages. A typical business plan runs 15 to 20 pages, but there's room for wide variation from that norm.

Much will depend on the nature of your business. If you have a simple concept, you may be able to express it in very few words. On the other hand, if you're proposing a new kind of business or even a new industry, it may require quite a bit of explanation to get the message across.

Who Needs a Business Plan?

About the only person who doesn't need a business plan is one who's not going into business. You don't need a plan to start a hobby or to moonlight from your regular job. But anybody beginning or extending a venture that will consume significant resources of money, energy or time, and that is expected to return a profit, should take the time to draft some kind of plan.
Startups. The classic business plan writer is an entrepreneur seeking funds to help start a new venture. Many, many great companies had their starts on paper, in the form of a plan that was used to convince investors to put up the capital necessary to get them under way.
Most books on business planning seem to be aimed at these startup business owners. There's one good reason for that: As the least experienced of the potential plan writers, they're probably most appreciative of the guidance. However, it's a mistake to think that only cash-starved startups need business plans. Business owners find plans useful at all stages of their companies' existence, whether they're seeking financing or trying to figure out how to invest a surplus.
Established firms seeking help. Not all business plans are written by starry-eyed entrepreneurs. Many are written by and for companies that are long past the startup stage. WalkerGroup/Designs, for instance, was already well-established as a designer of stores for major retailers when founder Ken Walker got the idea of trademarking and licensing to apparel makers and others the symbols 01-01-00 as a sort of numeric shorthand for the approaching millennium. Before beginning the arduous and costly task of trademarking it worldwide, Walker used a business plan complete with sales forecasts to convince big retailers it would be a good idea to promise to carry the 01-01-00 goods. It helped make the new venture a winner long before the big day arrived. "As a result of the retail support up front," Walker says, "we had over 45 licensees running the gamut of product lines almost from the beginning."
These middle-stage enterprises may draft plans to help them find funding for growth just as the startups do, although the amounts they seek may be larger and the investors more willing. They may feel the need for a written plan to help manage an already rapidly growing business. Or a plan may be seen as a valuable tool to be used to convey the mission and prospects of the business to customers, suppliers or others.
Plan an Updating Checklist
Here are seven reasons to think about updating your business plan. If even just one applies to you, it's time for an update.
  1. A new financial period is about to begin. You may update your plan annually, quarterly or even monthly if your industry is a fast-changing one.
  2. You need financing, or additional financing. Lenders and other financiers need an updated plan to help them make financing decisions.
  3. There's been a significant market change. Shifting client tastes, consolidation trends among customers and altered regulatory climates can trigger a need for plan updates.
  4. Your firm develops or is about to develop a new product, technology, service or skill. If your business has changed a lot since you wrote your plan the first time around, it's time for an update.
  5. You have had a change in management. New managers should get fresh information about your business and your goals.
  6. Your company has crossed a threshold, such as moving out of your home office, crossing the $1 million sales mark or employing your 100th employee.
  7. Your old plan doesn't seem to reflect reality any more. Maybe you did a poor job last time; maybe things have just changed faster than you expected. But if your plan seems irrelevant, redo it.

Finding the Right Plan for You

Business plans tend to have a lot of elements in common, like cash flow projections and marketing plans. And many of them share certain objectives as well, such as raising money or persuading a partner to join the firm. But business plans are not all the same any more than all businesses are.
Depending on your business and what you intend to use your plan for, you may need a very different type of business plan from another entrepreneur. Plans differ widely in their length, their appearance, the detail of their contents, and the varying emphases they place on different aspects of the business.
The reason that plan selection is so important is that it has a powerful effect on the overall impact of your plan. You want your plan to present you and your business in the best, most accurate light. That's true no matter what you intend to use your plan for, whether it's destined for presentation at a venture capital conference, or will never leave your own office or be seen outside internal strategy sessions.
When you select clothing for an important occasion, odds are you try to pick items that will play up your best features. Think about your plan the same way. You want to reveal any positives that your business may have and make sure they receive due consideration.
Types of Plans
Business plans can be divided roughly into four separate types. There are very short plans, or miniplans. There are working plans, presentation plans and even electronic plans. They require very different amounts of labor and not always with proportionately different results. That is to say, a more elaborate plan is not guaranteed to be superior to an abbreviated one, depending on what you want to use it for.
  • The Miniplan. A miniplan may consist of one to 10 pages and should include at least cursory attention to such key matters as business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. It's a great way to quickly test a business concept or measure the interest of a potential partner or minor investor. It can also serve as a valuable prelude to a full-length plan later on.
Be careful about misusing a miniplan. It's not intended to substitute for a full-length plan. If you send a miniplan to an investor who's looking for a comprehensive one, you're only going to look foolish.
  • The Working Plan. A working plan is a tool to be used to operate your business. It has to be long on detail but may be short on presentation. As with a miniplan, you can probably afford a somewhat higher degree of candor and informality when preparing a working plan.
A plan intended strictly for internal use may also omit some elements that would be important in one aimed at someone outside the firm. You probably don't need to include an appendix with resumes of key executives, for example. Nor would a working plan especially benefit from, say, product photos.
Fit and finish are liable to be quite different in a working plan. It's not essential that a working plan be printed on high-quality paper and enclosed in a fancy binder. An old three-ring binder with "Plan" scrawled across it with a felt-tip marker will serve quite well.
Internal consistency of facts and figures is just as crucial with a working plan as with one aimed at outsiders. You don't have to be as careful, however, about such things as typos in the text, perfectly conforming to business style, being consistent with date formats and so on. This document is like an old pair of khakis you wear into the office on Saturdays or that one ancient delivery truck that never seems to break down. It's there to be used, not admired.
  • The Presentation Plan. If you take a working plan, with its low stress on cosmetics and impression, and twist the knob to boost the amount of attention paid to its looks, you'll wind up with a presentation plan. This plan is suitable for showing to bankers, investors and others outside the company.
Almost all the information in a presentation plan is going to be the same as your working plan, although it may be styled somewhat differently. For instance, you should use standard business vocabulary, omitting the informal jargon, slang and shorthand that's so useful in the workplace and is appropriate in a working plan. Remember, these readers won't be familiar with your operation. Unlike the working plan, this plan isn't being used as a reminder but as an introduction.
You'll also have to include some added elements. Among investors' requirements for due diligence is information on all competitive threats and risks. Even if you consider some of only peripheral significance, you need to address these concerns by providing the information.
The big difference between the presentation and working plans is in the details of appearance and polish. A working plan may be run off on the office printer and stapled together at one corner. A presentation plan should be printed by a high-quality printer, probably using color. It must be bound expertly into a booklet that is durable and easy to read. It should include graphics such as charts, graphs, tables and illustrations.
It's essential that a presentation plan be accurate and internally consistent. A mistake here could be construed as a misrepresentation by an unsympathetic outsider. At best, it will make you look less than careful. If the plan's summary describes a need for $40,000 in financing, but the cash flow projection shows $50,000 in financing coming in during the first year, you might think, "Oops! Forgot to update that summary to show the new numbers." The investor you're asking to pony up the cash, however, is unlikely to be so charitable.
  • The Electronic Plan. The majority of business plans are composed on a computer of some kind, then printed out and presented in hard copy. But more and more business information that once was transferred between parties only on paper is now sent electronically. So you may find it appropriate to have an electronic version of your plan available. An electronic plan can be handy for presentations to a group using a computer-driven overhead projector, for example, or for satisfying the demands of a discriminating investor who wants to be able to delve deeply into the underpinnings of complex spreadsheets.