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Atricle Dump - Writing a Working Business Plan
In order to maintain the quality and consistency of a franchised outlet it becomes necessary to inspect the facilities and franchise operations to make sure they are in compliance with confidential operations manual at all times. Franchisors must therefore have the right of inspection to check the books, audit the company and insure that image is maintained. In our franchise company I inserted a special clause into the franchise agreements, which address this issue, you will find it below;3.17.2 Right of InspectionFranchisor has the right, upon a minimum of forty-eight (48) hours notice, to inspect and audit Franchisee’s books, records, ledgers, journals, bank statements, sales tax reports, income tax returns, cash control systems and other accounting records pertaining to the Franchised Busin
9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?
$ Your Income
$ Advertising/Promotion
$ Bank Fees
$ Business Insurance
$ Business Lease/Rent
$ Internet (include website, hosting etc.)
$ Supplies
$ Postage
$ Printing
$ Telephone
$ Training
$ Utilities
$ Marketing/Advertising
$ Equipment
$ Furniture
10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What c
Imagine arriving at your home or business only to find it burned to the ground. For too many people, that scenario is a frightening reality. To just about any home or business owner, a fire is the most detrimental of all disasters. Charred remains of furniture, equipment and personal belongings stand as reminders of what used to be. Even worse, many items may be burned beyond recognition.While losing everything you own seems like a bleak forecast, all is not always lost. In fact, getting through the fire’s aftermath depends on how organized you are before disaster strikes.Chances are you have insurance for anything of value. You also have all sorts of paperwork that can help you get your life back in order, such as financial records, business records, and personal documents. As long as you take
A business plan is a written blueprint for your business. It describes a summary of what your business is about and it's goals. It also outlines how your business will function. The term "business plan" was first developed by bankers who wanted a detailed report of how a business would result in profits before they would make a decision on lending money. Today, no business banker will even entertain a business loan application without a business plan.
In a nutshell, the answer is yes, you really do need a business plan if you really want to build a solid foundation under your home-based business.
I guess the reason so many women procrastinate in doing a business plan is because they think they have to come up with some imaginary figures and statistics about their business which is of course very scary for anyone. This type of plan is known as an Executive Business Plan. This plan is shown to banks, SBA and other lenders who you may apply to for a substantial loan. Usually, this type of business plan must show a 3-5 year projection of how much money your business would make if they should lend you a specific sum of money. Although you will need this type of business plan should you wish to expand your business, the most important thing for you to know now is where you will be in the next 3,6,9 and 12 months. One of the best form of business plans to start out with is the "Working Business Plan". This plan answers the 5 "W's" - Who, What, Where, When and Why.
There is no pre-required length that a Working Business Plan should be. Just remember that you aren't writing to impress, you are writing to address the important issues of starting your business. This plan is just for your planning purposes and can be expanded later on into a full executive plan. The following outline will help you in processing your thoughts and writing your Working Business Plan.
1. Mission Statement - What is the goal of your business. What purpose does it serve.
2. Objective - What will the outcome be for your business as a result of your mission. (ex: K.G. enterprises will gross over $50,000 it's first year with a 5% error margin on its documents).
3. Management - Who will run the business and what qualifications does the person have. What additional skills or resources are needed? What are the names of others that might be able to serve as mentors or help you in grooming your business for success?
4. Service/Product - What products or services are being offered? How will they be produced. If you are selling a product, how much of the product will you need in stock? Do you have the start-up capital needed to purchase the produce? If no, how will you raise the capital needed?
5. Customers - Who are your customers? What area are they in? Is this a service or product they will want to buy? Do a typical profile of a repeat customer. 6. Competition - Who are your competitors? Where are they located? What are their prices? What services or products do they sell? How could you do better?
7. Marketing - How will you market your business? How much money will you need to market your business? How is your competition marketing their business? Do you need business cards, brochure, stationery, fliers etc.?
8. Office Set-up - What are your daily office procedures, what will you do each day that will result in the sale of your service or product? What bookkeeping system will you use and how often will you input your information in the system? Do you need a bookkeeper? What supplies do you need? What type of furniture do you need? What office equipment will you need? Where will your office be?
9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?
$ Your Income
$ Advertising/Promotion
$ Bank Fees
$ Business Insurance
$ Business Lease/Rent
$ Internet (include website, hosting etc.)
$ Supplies
$ Postage
$ Printing
$ Telephone
$ Training
$ Utilities
$ Marketing/Advertising
$ Equipment
$ Furniture
10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What c
Some of the most successful businesses in the past few years have done so because of innovative technology they have purchased available in their industry. What does it take to make your business succeed? What is new out there in business technology that may help save your time or organize your salesforce into a leaner, meaner machine?!One good example of a business that uses new and innovative technologies to solve complex business and financial problems is IBM. IBM has continuously evolved and changed software and financial models to improve other company's businesses. They have stayed ontop of the learning curve while others have reverted to best practices.Numerous other businesses have used technology, software and the internet to evolve their business model. In retail, Wal-Mart is a great e
There is no pre-required length that a Working Business Plan should be. Just remember that you aren't writing to impress, you are writing to address the important issues of starting your business. This plan is just for your planning purposes and can be expanded later on into a full executive plan. The following outline will help you in processing your thoughts and writing your Working Business Plan.
1. Mission Statement - What is the goal of your business. What purpose does it serve.
2. Objective - What will the outcome be for your business as a result of your mission. (ex: K.G. enterprises will gross over $50,000 it's first year with a 5% error margin on its documents).
3. Management - Who will run the business and what qualifications does the person have. What additional skills or resources are needed? What are the names of others that might be able to serve as mentors or help you in grooming your business for success?
4. Service/Product - What products or services are being offered? How will they be produced. If you are selling a product, how much of the product will you need in stock? Do you have the start-up capital needed to purchase the produce? If no, how will you raise the capital needed?
5. Customers - Who are your customers? What area are they in? Is this a service or product they will want to buy? Do a typical profile of a repeat customer. 6. Competition - Who are your competitors? Where are they located? What are their prices? What services or products do they sell? How could you do better?
7. Marketing - How will you market your business? How much money will you need to market your business? How is your competition marketing their business? Do you need business cards, brochure, stationery, fliers etc.?
8. Office Set-up - What are your daily office procedures, what will you do each day that will result in the sale of your service or product? What bookkeeping system will you use and how often will you input your information in the system? Do you need a bookkeeper? What supplies do you need? What type of furniture do you need? What office equipment will you need? Where will your office be?
9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?
$ Your Income
$ Advertising/Promotion
$ Bank Fees
$ Business Insurance
$ Business Lease/Rent
$ Internet (include website, hosting etc.)
$ Supplies
$ Postage
$ Printing
$ Telephone
$ Training
$ Utilities
$ Marketing/Advertising
$ Equipment
$ Furniture
10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What c
Think about Apple computers, and one cannot but be baffled by its riches to rags to riches story. This company epitomizes what innovation and re-invention is all about. At a quick glance, Apple seems to have adapted and learnt to fly with the winds of change. But there is more to this success than just adapting to change.The Setting In the early 2000's, the company was ignored by mainstream. For a long time, the doomsday predictors seemed right. The company stock had hit the pits and any hope was found only in the devout, cult following they had for their computer products, many of whom frequented the annual MacWorld show. A cult following is a great thing to have but not enough to have the wide appeal to have sustained growth.This was right about the time that digital medi
1. Mission Statement - What is the goal of your business. What purpose does it serve.
2. Objective - What will the outcome be for your business as a result of your mission. (ex: K.G. enterprises will gross over $50,000 it's first year with a 5% error margin on its documents).
3. Management - Who will run the business and what qualifications does the person have. What additional skills or resources are needed? What are the names of others that might be able to serve as mentors or help you in grooming your business for success?
4. Service/Product - What products or services are being offered? How will they be produced. If you are selling a product, how much of the product will you need in stock? Do you have the start-up capital needed to purchase the produce? If no, how will you raise the capital needed?
5. Customers - Who are your customers? What area are they in? Is this a service or product they will want to buy? Do a typical profile of a repeat customer. 6. Competition - Who are your competitors? Where are they located? What are their prices? What services or products do they sell? How could you do better?
7. Marketing - How will you market your business? How much money will you need to market your business? How is your competition marketing their business? Do you need business cards, brochure, stationery, fliers etc.?
8. Office Set-up - What are your daily office procedures, what will you do each day that will result in the sale of your service or product? What bookkeeping system will you use and how often will you input your information in the system? Do you need a bookkeeper? What supplies do you need? What type of furniture do you need? What office equipment will you need? Where will your office be?
9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?
$ Your Income
$ Advertising/Promotion
$ Bank Fees
$ Business Insurance
$ Business Lease/Rent
$ Internet (include website, hosting etc.)
$ Supplies
$ Postage
$ Printing
$ Telephone
$ Training
$ Utilities
$ Marketing/Advertising
$ Equipment
$ Furniture
10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What c
Most of us organize our lives around having a job. Work is important to us, but a key question we ought to ask ourselves is why do we work? There are many reasons why people work. Some work for personal development; others work only for money. And some people work to gain prestige and possessions.Elbert Hubbard said, “We work to become, not to acquire.” Work should neither be your only source of fulfillment nor something you without juice. Your true vocation is your life and work is only part of it. Work is indeed important, but remember it is just a part of living. Work is not everything.Research says that more than 70% of workers say that they can be more productive and only 45% say that they could be twice as productive. One writer said, “Millions are idle – even if they have their jobs. Some
5. Customers - Who are your customers? What area are they in? Is this a service or product they will want to buy? Do a typical profile of a repeat customer. 6. Competition - Who are your competitors? Where are they located? What are their prices? What services or products do they sell? How could you do better?
7. Marketing - How will you market your business? How much money will you need to market your business? How is your competition marketing their business? Do you need business cards, brochure, stationery, fliers etc.?
8. Office Set-up - What are your daily office procedures, what will you do each day that will result in the sale of your service or product? What bookkeeping system will you use and how often will you input your information in the system? Do you need a bookkeeper? What supplies do you need? What type of furniture do you need? What office equipment will you need? Where will your office be?
9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?
$ Your Income
$ Advertising/Promotion
$ Bank Fees
$ Business Insurance
$ Business Lease/Rent
$ Internet (include website, hosting etc.)
$ Supplies
$ Postage
$ Printing
$ Telephone
$ Training
$ Utilities
$ Marketing/Advertising
$ Equipment
$ Furniture
10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What c
If you are looking for a job you may need to scrutinize your r?sum? and perhaps rewrite it every six months or so. Why you ask? Well, because things change in the workforce and the job you may be seeking may be slightly different with different qualifications then they are looking for then the last set of jobs that you tried to get hired at.Additionally as you make changes in your r?sum? often you will find minor mistakes. Some of the mistakes are so minor that you may not even notice them and surely someone reading it probably will not either because most human resource directors merely scan the r?sum? very quickly. It either goes into the waste can or into the piles to look at later.There are however many human resource directors who scrutinize every little thing on a r?sum? very carefully
9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?
$ Your Income
$ Advertising/Promotion
$ Bank Fees
$ Business Insurance
$ Business Lease/Rent
$ Internet (include website, hosting etc.)
$ Supplies
$ Postage
$ Printing
$ Telephone
$ Training
$ Utilities
$ Marketing/Advertising
$ Equipment
$ Furniture
10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What can they help you with?
Contact Management
Establish a good contact management system for yourself. Today, keeping a list of contacts on paper is not efficient. A good contact management software will be needed. If you currently use MS Office, you should have MS Outlook already installed and it will serve the purpose nicely. Other popular contact management software are ACT and Goldmine. Regardless of what contact system you have you must be willing to update your system at least twice per week.
Evaluate how you will manage you contact system. Make sure to schedule this in your planner or palm.
Establish a good contact management system for yourself. Today, keeping a list of contacts on paper is not efficient. A good contact management software will be needed. If you currently use MS Office, you should have MS Outlook already installed and it will serve the purpose nicely. Other popular contact management software are ACT and Goldmine. Regardless of what contact system you have you must be willing to update your system at least twice per week. Evaluate how you will manage you contact system. Make sure to schedule this in your planner or palm.
11. Sales - The number of clients you service or products you sale will give you a true picture as to whether or not you are having success with your business. But first, you must have a measurable sales goal in achieving this success. Start by evaluating where you want to be in sales for the first 3 months, 6, months, 9 months or one year. By doing this you will be able to re-evaluate your business plan every three months and determine if you need to improve in marketing etc.
12. Starting Date - Set a starting date for when you want to begin your business or put into place this working business plan. Make sure you have printed material available for all services or products offered. Also evaluate and follow-up with yourself daily for the first month to ensure that you are following your own plan. After 30 days, follow-up on a weekly basis and then monthly from that point on.
13. Remember, no plan will work unless you are willing to put it into action!
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