Episode 118: The Importance of Creating an Effective Business Plan with Burke Franklin

<p><i><strong>For Episode 118 of the Wealth On Any Income Podcast, Rennie is joined by Burke Franklin. Burke’s BizPlanBuilder® business planning software has helped over 2 million entrepreneurs and their advisors in virtually every industry get organized, raise capital, and succeed in their day-to-day operations. Its online dashboard of cross-functional programs and "done-for-you" business templates serves as the easy-to-use back office software suite for businesses of all sizes.</strong></i><br /><br />Burke is also the author of <i>Business Black Belt</i> and has been helping young, innovative companies to scale for almost 40 years.</p><p><i><strong>Do you struggle with creating an effective business plan for your company?</strong></i></p><p><strong>In this episode, Rennie and Burke cover:</strong></p><p>01:49 The story of the 200 mile per gallon carburetor and how that has inspired Burke.</p><p>02:09 How a friend’s opportunity with Apple lead him to look at business plans in a whole new way and that led to him being involved in helping many companies with their plans.</p><p>05:41 Why a business plan must be taken seriously to allow your idea or business to see the light of day.</p><p>07:16 The importance of considering what industry or company are you disrupting as part of your plan.</p><p>08:20 The charities that Burke supports like the Pachamama Alliance and local animal shelters and charities. He also has helped many nonprofits through the use of his Biz Plan Builder.</p><p>10:09 Why it is so important for a nonprofit to have a business plan as well to keep things on target. Nonprofit is a tax status, not a management style. </p><p>13:29 An experience that Burke considers a failure about a company creating retail packages and what he learned from that.</p><p>15:23 Visit Burke’s website at <a href="https://businesspowertools.com" target="_blank"><strong>businesspowertools.com </strong></a>under the Resources and Support tabs for some free resources, including a spreadsheet to help you understand how much mon