Benefits: Lenders, and most equity investors, want to know not only about your business's financial position, but also about the personal financial profile of the business's owners. The attached file is a personal financial statement form used by a Midwest regional bank. It outlines all the information that conventional lenders will want to know about your personal finances, from a description of your assets and liabilities to identification of your sources of income. You can get a good idea of what lenders are looking for, how your financial profile will appear to them, and the importance of carefully completing such a form before submitting it to a lender.

Employee Benefits Administrators will initially focus on employers with 10 to 500 employees within the local counties: Chester, Berks, Montgomery, and Lancaster. COBRA/HIPAA and Flexible Account Administration will be the main focus for these are areas in which companies can already begin to see the need for outsourcing services. Employers with 20 or more employees must offer COBRA if they offer any health insurance to their employees. And, if companies are already having to increase their employee contributions toward the cost of benefits, then offering a Flexible Spending Program may alleviate this added financial burden.

Planning provides a means for actively involving personnel from all areas of the business enterprise in the management of the organization. Company-wide participation improves the quality of the plans.

Employee involvement enhances their overall understanding of the organization's objectives and goals. The employees' knowledge of the broad plan and awareness of the expected outcomes for their responsibility centers minimizes friction between departments, sections, and individuals. Involvement in planning fosters a greater personal commitment to the plan and to the organization. These positive attitudes improve overall organizational morale and loyalty.

Managerial performance can also benefit from planning, although care must be taken that planning does not become an empty task managers do periodically and ignore the rest of the time. Successful planning focuses the energies and activities of managers in the utilization of scarce resources in a competitive and demanding marketplace. Able to clearly identify goals and objectives, managers perform better, are more productive, and their operations are more profitable. In addition, planning is a mental exercise from which managers attain experience and knowledge. It prepares them for the rigors of the marketplace by forcing them to think in a future- and contingency-oriented manner.

Hi

the marketing and sales strategy will also include:

1. Contacting previous business acquaintances and announcing the business. The contacts will be made either via telephone or a direct mailing including a brochure.
2. Sales and marketing leads can also be purchased from marketing companies. These leads will list company size (by employees) as well as contact information.
3. Most of the initial contacts will be made in the eastern Pennsylvania area, and EBA has attained a geographic employer summary of the area from an Internet site, PASourceline. Also, business listings and lead documents are obtained by using the resources at Chester County Library.
4. As stated in the marketing strategy, the principals of EBA are members of Human Resources trade organizations on a local and national level. EBA can sponsor these organizations' meetings to market their services. (Note: as of the writing of this business plan, EBA will be sponsoring a luncheon meeting of the Chester County Human Resources Association on May 18, 2001.)
5. A press release has been sent to the local Chamber of Commerce, Morgantown Area Business Association, which is included in the current newsletter, and will appear in the May issue of two other Human Resources organization's newsletters (CCHRA & GVFHRA).
6. "New Business" press releases have also been sent to the local papers. Considering the general public may not be familiar with the business term, "Outsourcing", EBA is planning an article explaining their services.

EBA will also target members of local business associations to receive a cover letter and brochure explaining our services. A follow-up phone call will take place within two weeks. At the same time, as mentioned above, local newspapers will spotlight EBA as a new company. This joint effort will promote the name and create an awareness of the outsourcing trend.




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Business planning is a management-directed process of identifying long-term goals for a business or business segment, and formulating realistic strategies for reaching those goals. Through planning, management decides what objectives to pursue during a future period, and what actions to undertake to achieve those objectives. Plans may be broad and encompass the entire enterprise, like a plan to double corporate profits, or they may concentrate on certain functional domains, such as information technology planning. Business planning may also entail developing contingency plans of what to do if some goals prove unattainable along the way or of how the business would survive a crisis, e.g., data center failure, natural disaster, and so forth. Finally, management outlines a course of action and analyzes the financial implications of those actions. Often management will specify measurable outcomes along the way that will demonstrate whether the business is progressing toward the goals as planned. From an array of alternatives, management distills a broad set of interrelated choices to form its long-term strategy. It is in the annual budgeting process that management develops detailed, short-term plans that guide the day-to-day activities meant to attain the objectives and goals.

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In a world of an ever increasing competition, less stable and predictable, planning has become more important for managers, conditioning business existence. Times are for thorough analysis of a business from all its perspectives, the difference between an evolving business and a failure depends on this.

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