Internet Marketing Consultant

Wow. Internet Marketing Consultant. What a thought. If you have been working on making some money on the Internet for any amount of time now, you probably can see the value of a consultant. The big thing you see going around now is that everyone should have a mentor. This is a cool idea and a mentor can definitely accelerate your success, but the price tag for a good mentor is most often several thousand dollars. This leaves many people out. Several thousand dollars can be tough when you are just starting out trying to build a business. I will not sit here and tell you that you can build a business and get rich without spending any money. If i did it would be called a misleading lie. I can tell you that finding a good Internet Marketing Consultant can save you time and money. The only way that money is made off line or on line is through business. I don’t care if you clean houses for a living. It is a business. Even if you work for someone else, say driving a trash truck, there is still a business involved. People search for ways to make money on the Internet because they want to work for themselves or work from home. Working for yourself is cool. I know because I have worked for myself for over 20 years. This would not be possible if I had not set up my business. To the best of my knowledge it is not free to start any type of business. Some are more expensive than others. I currently have a business in the food industry. We did not have much money when we started. We rented a kitchen in a local tavern and had the business off the ground for around $500. 00. This business is on track to do around a million dollars this year and we are paying out around $12,000. 00 per week in operating costs (over head). Believe me when I tell you that we did not have this exact business in mind when we started. We took the leap, started the business and it has evolved into something totally cool. My recommendation to you is that if you are just getting started in your search, take the short cut and find yourself an Internet Marketing Consultant that you can trust and afford. You can drop me a line if you need some recommendations in this area. To Your Success, Ted

Web Marketing

Have you ever felt fed up with all these web-marketing experts and super millionaires around? I have. Have you ever felt that one of the reasons you keep trying to make it online is to justify yourself infront of the eyes of your family members and friends? I have. Have you ever felt like a fool wandering around on the net all day wasting time and money having zero or very poor results, while your friends and family laugh at you behind your back? I have. How about listening to what I discovered that has literally changed my life during the last month and will certainly change yours as well ? Well, I cannot keep such an info to myself, I have to let it out , I have to share it with all marketers or non marketers, experienced or newbies. And I suggest you do the same . For the last 6 years I have read more than 50 books on email marketing , listbuilding, advertising, traffic generating, web-business developing, web-advertising, article writing, google adsense tricks, google adwords tactics, blogs and ping, social marketing websites, SEO techniques and everything there is as well as hundreds of e-books others purchased and others offered for free as bonuses to software or digital info products I paid for. Well, I don’t complain for all this wealth of information, but although you’d guess I’d be a web-marketing genius by now, till one month ago I was a BIG NOBODY, a ROUND ZERO, or maybe a MINUS , because I had paid for Google Adwords , e-books and books a small fortune and all I had got in return were a few dollars here and a few there. You can get access to the info that turned this whole status upside down, by visiting my website, but even if you don’t, I’m sure you’ll find your own way to that info if you take a few minutes and sink into what I’m going to share with you here, but it will take you sometime, hopefully not 6 years as it took me. Through my long journey to knowledge and self improvement as an Internet Marketer and as a person, five phrases originating from five different people who have my respect and admiration, were the milestones of my thinking and “reprogramming” and my point of reference sort of compass – everytime I was badly sidetracked. 1. Common sense is more rare than blue diamonds. 2. It’s a numbers’ game. 3. 90% of those who buy the e-books don’t even finish reading them. A very tiny percentage of them will apply some of the actions or strategies presented. And just a few or nobody will follow exactly what the e-book publisher suggests or recommends. 4. People would do anything to avoid thinking for themselves. People hate thinking. 5. The solutions to the biggest problems are ridiculously simple and right under our nose, that’s why we don’t see them. These “gems” have been spinning in my head […]

Advertising A Small Business

Advertising is a very costly business and many small businesses find that money spent doesn’t necessarily turn into profitable business growth. When I first started my first business I did not have much money to spare so I really had to challenge myself to find the best ways to market my business without parting with lots of cash. I happened to stumble upon business networking and the rest as they say is history”. I’ve generated thousands of pounds from business networking and all for the small price of sign up fees to a number of group networking events. Having said that, and contrary to many of the get rich quick schemes you see advertised, attending a business networking event doesn’t guarantee you overnight success. You have to work at it and there are many business networking techniques that you can apply to increase your hit rate for referral generation. Don’t underestimate the value of a well presented business card, let me explain:- Have a think about your business cards and what they are designed to do. They are the one and only thing that anyone has to remember you by when a networking event is over and inevitably it’ll be one of many so how do you make it stand out? Your business card must achieve three essential things:- 1. It must explain accurately and concisely what your business is about and the service that you after. 2. It must provide all the information needed to get in contact with you after the event 3. It must ensure that you are remembered Look at your business card. Does it truly do all these three things? Critique it carefully to ensure that it includes the minimum essential contact details such as your name, your company name, your address, telephone number and e-mail address. Does it accurately convey your service details? Have you really used those keywords that convey the basic message about what you do? Don’t forget that a business card has two sides, only printing on one side is a waste of valuable advertising space so use both sides. You may want to consider putting a photograph of you on the card a sure fire way to make it stand out as someone flicks through cards trying to remember who they met. What better way to ensure someone can put a name to a face? Now consider how your business card looks. From an image point of view does it accurately reflect the type of business that your are in/ is it eye catching? It’s worth considering using a graphic designer to really make it stand out from the run of the mill business card. Having said that, don’t get carried away with the graphic design. Many business people (especially the really good networkers) will use your card to make notes on so always keep the background colour light. There’s nothing worse that trying to make notes on a black card with a black pen! You don’t have to spend […]

Write A Small Business Plan

A business plan is in essence a creative writing project. You want the business plan to be an interesting read, not a long boring discussion. You have to put on your marketing hat and make your company’s future sound exciting. How to write a business plan is a challenge for any entrepreneur. Here are a few tips to keep in mind. Write your plan in a style that fits your industry and your management team. The plan for a sports bar company would sound much different than a plan for a bank. Make your plan sound like you; put some of your personality and philosophy in the plan, so after reading the plan an investor or lender would feel as though he/she knows you. Be enthusiastic.When you talk to entrepreneurs about their company, they usually get so enthusiastic that they almost wear you out. Then you get their business plan and it reads like the operations manual that came with your VCR. The purpose of the plan is to create excitement in the minds of the investors, in other words to activate the area of their brains devoted to greed. Avoid getting mired in technical jargon.Internet companies, medical companies and computer companies all tend to dwell on minute details about their technology and don’t adequately develop the business reasons why they are going to make money for themselves and the investors. A CD-ROM cannot replace a mind.More and more entrepreneurs are relying on business plan writing software. These products are sometimes helpful in formatting the plan and creating the financial schedules, but they cannot formulate your strategies for you. The heart of the is explaining how you are going to sell more of your product or service than your competitors, and operate your business at high enough profit margins to generate a superior rate of return for investors. The CD-ROM you might purchase has no idea how to do any of this. It’s spent nearly all of its life on a shelf, in a box. A Solid Presentation Is Key Does the plan include a title page with your company name, a person’s name and the address and phone numbers? Don’t just clip a business card to the front page, it could get separated. Has your plan been proofed and spell checked? And by a real person, not just your word processor? Did you check all abbreviations or acronyms to make sure the first time they are used they are explained, ie., World Wide Web (www)? Have you gone through the plan to make sure all technical terms are explained? Are the pages numbered? Do the page numbers for the index match the actual page numbers? Have you edited the plan to see what you can include in the Appendix rather than in the body of the business plan? Has someone unfamiliar with your company read the plan and understood it? Is your executive summary limited to no more than 3 pages? Have you had someone unfamiliar with your company […]

Marketing Strategies For Businesses

Having the resources to implement 101 marketing strategies would be any business owners dream but the problem is, very few have a big enough budget. Particularly when just starting out when cash is usually hard to come by. You CAN however advertise & sell your products & services without having to sell the house. “But how?” I hear you say. You really do not need 101 marketing strategies. You just need a couple of well proven, low cost options to give your business a boost. First off, get yourself a marketing budget… even a small one will do! If you are a small business owner, you really do need one if you want to be successful. Before you start searching for marketing strategies, you should create a budget that is practical & workable. If you only have access to $100 per month, then create a $100 a month budget. You then know how much you can invest on promotions without causing too much stress on the business. Whether you wish to invest $100 a month or $20,000 a month on marketing, a well thought out & planned approach will help you avoid those “absolutely never to be repeated, too good to miss” marketing opportunities. “You know the ones I mean” And… even if you did implement 101 marketing strategies only a percenatge would be successful. Some strategies simply work better for some business than others. The trick is to keep testing & measuring the results so you know absolutely for sure what works for your business & what doesn’t. Find the methods that work best for your type of business, stick with them & forget the rest. When your budget is finally in place, research as many strategies as you can, that you think will work for your business. Have a think about who you ideal customers are and how to reach them. Perhaps you can reach your potential customers through direct mail, classified ads in a newspaper, magazine ads, or even online advertising. Whatever methods you use, be sure to test various ads, headlines, sales letters, etc. to find what brings the most response. Track down some online companies and/or local business to form strategic alliances (joint ventures) with. A strategic alliance is where you enter into an agreement with another company to promote each others products and services. The only proviso being that you share similar customer profiles, but you are NOT competitors. If you are just starting up & do not have a customer base, you can still work with other companies (that are NOT competitors) & pay them a commission for any referrals or sales that they pass on. For an online situation, you can establish an affiliate program and reward other online business for any leads or sales they initiate. A proportion of the 101 marketing strategies are going to be expensive so you really do need to research the low cost options. If you are considering classified advertising in a newspaper or other publications, […]

Business Plan Startup

Any individual thinking of starting his or her own business is going to need the funds to get off the ground. Procuring funds can be difficult, as financial institutions and investors want to know where there money is going to be put to use and whether the business they invest in has potential. Obtaining loans and funding is not guaranteed, but having a business plan to show potential investors is a good way to increase the chances. The business plan serves a few basic purposes. It serves as an internal document for your company, helping you to maintain your focus and work toward your goals. It also serves as an introduction to your company. The most important function of the business plan, for those just starting out, is that of a marketing tool. The business plan can convince investors that your company is a worthwhile investment. The specifics of your business plan will vary according to your industry and your personal style. However, there are certain key elements that should be included in every plan. The most important elements are, perhaps, the “Four P’s”: Product – What you are planning to sell; Price – How much you will sell it for; Place – Where you will sell it; and Promotion – How you are going to market it. It is also crucial that your business have written vision and mission statements. The difference between the two is subtle but important. A vision statement can be seen as an overall goal towards which the company will strive, and often begins with the words “To Be. ” The mission statement can be seen as the practical means of achieving the vision. It is extremely important that your business plan include a financial section. Utilizing available software options, it is possible for a new business owner with no background in finance to write this section himself. However, for right-brained people, it can be the most difficult section. It is always a good idea to have this section reviewed by an accountant. In this section, you will utilize a variety of tables to show the expected profits and losses of the business over time. Be sure to take into account seasonal fluctuations, such as the increase in retail sales during the Christmas shopping season. There is a wealth of information available on the internet to help you write your business plan step by step. It is important to remember the purpose of a business plan, which in this case is to help you obtain funding. In a sense, you must justify the existence of your company in its business plan. Investors want to know whether they can expect a return on their investment, and they will look to your business plan to find that out. It should go without saying that you should never attempt to pad the numbers in your business plan. Savvy investors will see through the charade, and you will not only fail to receive money from them, but you could […]

Example Of A Small Business Plan

As a lender, I wish we could approve every loan application that hit our table; unfortunately it’s not possible. We deal with mostly very small businesses seeking small loans, usually less than $250,000. Lending to inexperienced, new business owners is one of the riskiest arenas for a lending agency. Still, we manage to keep our losses to a minimum. The amazing thing about these business plan killers is that they rarely travel alone; they almost always appear in clusters. Here are the top ten business plan killers and what you can do to avoid or fix them: 1. Dreadful Personal Financial Profile What is the likelihood that one who demonstrates abysmal financial management in his or her personal affairs will miraculously become an effective manager of finances for a business? It’s highly unlikely. It’s a lot more likely that poor practices in one’s personal situation are simply carried into the business. The main difference is that in business a much broader range of people and organizations usually get burned as a result of mismanaged business finances. Red flags pop up in business plans in the form of high credit card financing, garages full of toys (trucks, Seadoos, Skidoos, bikes, boats) 90% financed, poor credit history and no savings. Strategy One: Tidy up your personal finances before applying for a business loan. Pay down loans, clean up any bad debts, collect some business-related equipment and save some money. 2. Insufficient or Non-Existent Owner Equity or Security Business is always risky, but new business is infinitely more so. Lenders will want to see you personally “invested” in your business. The part of the business you personally own is called your equity. Another way to describe equity is the amount of cash or equipment you put into the business. A lender wants to see that you are invested to the point that you will not be inclined to walk away when the going gets tough. How much owner equity is enough? The amount varies from lender to lender, but less than 10% is inviting scrutiny while 20% or more will make your proposition more enticing. Any savvy lender will insist on seeing you invested to the degree that any financial complications result in you, not them, laying awake nights stressing over how to pay the bills. Security is the surly sister of equity. Your loan application will be stronger if you bring some sort of asset to the table as security. Lenders will be more attracted to assets with a clear resale value of more than the loan. Inventory is usually less desirable because it tends to grow legs and disappear when the going gets tough. Strategy Two: Create some equity to bring to the table. Save money, sell some toys, borrow some love money, or get a second job for a while. 3. Inadequate Market Research Inadequate market research manifests itself in various cruel ways. It can surface in the business plan as an unconvincing business case. It can reveal itself in […]

Business Communication Skills Training

Emotional Intelligence and Business Communication Training Emotional Intelligence and business communication training skills may lead to one of the most important skills that can build business customer service to it’s highest level. Humans are all deprived because we use this skill sparingly while our customers and employees suffer. Teach this emotional intelligence skill and your business will sky rocket. This simple skill can build trust in minutes instead of weeks and months. Without this skill, your company may be doomed Self empathy skills have to be the most underrated business communication skill ever discovered. Using adequate self empathy skills can facilitate a greater customer base and retention by having satisfied employees. Also with self empathy skills employee retention will be huge. Empathy may be described as a deep understanding what someone may be experiencing. This someone could be, the employee, customer, and management team. Without using business empathy skills, there is a lack of trust and connection between the customer and company. There are different types of business empathy. They are silent empathy, verbal empathy and self empathy or self understanding. Self empathy is the root of all communication. It is a warm up for the emotions as stretching is a warm up for the body. Without this warmup, you are risking injury to your employee, management and customer. This skill helps the employee to understand any emotions that they may be dealing with. Self empathy helps the manager and employee to become calm and relaxed in any situation. Offering oneself self empathy before the employee meets with the customer will bring about ease and comfort between the two. If the manager is needed to meet with an employee , again receiving self empathy will make this meeting easier and communication flow with quality and efficiency. Self empathy may be used during a conversation that may start to become stressed. Using the skill quickly brings back calm. Self empathy can be the difference between winning a new customer or retaining the current customer. If the employee is in a disgruntled mood the customer will identify this and not being satisfied either. Yet if the employee receives the calming that self empathy can provide the communication with the customer will probably be successful and pleasant. It only takes seconds to offer oneself self empathy. Management may use this skill to calm themselves during a hectic day, before business meetings, or anytime they may become angry, upset or dysfunctional. Emotional intelligence speaks of empathy with others yet, self empathy is the backbone to all communication, whether it be listening or expressing. Self empathy is very efficient and effective as it only takes a few minutes, sometimes seconds to perform this skill and to bring calm to the manager or employee. Self empathy is only 3 steps. Self empathy is easy. There are only 3 simple steps. Step one is to identify what the person is observing. It can be judgments or evaluations. This can also be called beating ones self up. This […]

Small Business Ad

A small Business Administration loan called in short as SBA loans is an excellent funding option for business. The funding option varies from the usual procedure of obtaining loan from the bank. The SBA Small Business Loan comes as a good thing in disguise for the small and medium business owners. These kinds of loans do not ask for much collateral. The SBA loan for small business is similar to the personal loans. Nowadays, when evaluated with the traditional bank loans, numerous business owners prefer SBA 7a loan as they offer immense benefits. Normally the SBA loan comes with a ten percent down payment. This will minimize to a significant extent, the general cash out of your wallet. The usual mortgage frequently comes with 20 % down payment and even more. The loan costs are not frequently financed by the customary mortgages, whereas an SBA assured loan comprises of third party expenditure like appraisal, processing, title, etc. The traditional mortgages have an utmost 15 to 20 year amortization plan that will create a tight flow of cash. Also seldom the fixed period goes beyond five years. No premature balloon payment, the SBA assured loans are completely amortizing signifying that at the amortization period’s conclusion, it pays off. Hence, due to a balloon, the borrower needs to have their loans refinanced. Likewise, another advantage is unlike the traditional mortgage, the SBA loans do not have any payable on the demand clause. There will be no prepaying for the borrower, if the term is lower than fifteen years. It would be a 3 year pre-pay if the term is above fifteen years. Moreover, without facing any prepayment penalty, the borrower can pay twenty-five percent of the balance. The prepayment penalty is worked out based on the amount, which is a surplus of the balance’s twenty-five percent. Hence, without paying any prepayment penalty the borrower can pay the whole SBA loan in three-year duration. The conventional financial institutions frequently wish to check the business finance of a borrower on a quarterly or on a monthly basis (subsequent to the closure of the loan) to ensure the cash flow for business are ample enough to cover the ratios for the low debt coverage. Suppose if the net income of the business does not suit the needed ratio, the financial institution usually seizes the right to call for the loan of the borrower. Not all these monthly or quarterly checking are found in the Small business administration loans. A good number of private banks offer Commercial Real Estate Loans like the SBA 7a loan which ranges in size from a minimum of fifty thousand dollars to a maximum of five million dollars. These genuine banks offer fixed as well variable interest rate options. All these customized loans are provided based on the borrower’s requirement and convenience. On the whole, the SBA loan comes as a savior to the small and medium business owner and it helps them to start and develop their business into manifolds.

Free Marketing Ideas

Affilate marketing could possibly be your ticket to financial freedom, if you are willing to learn the ropes, take action, be persistant and stay focused. You must also “test the waters”, so to speak, in order to find a profitable idea before you begin. This involves doing keyword research to see if there is a need for what you are offering. If so, are there other affiliates trying to make money there too? Don’t be afraid of competition as long as there’s not so many that it just would not be smart to try and enter that market. An example of this would be visiting Google.com and after researching your primary keyword phrase seeing a lot of pay per click advertisors bidding on that phrase. Some is good, but anything more than 20-30 is probably too much to tackle for someone just starting out. You are looking for “low hanging fruit”. These are keywords that have decent traffic, some competition, but not a huge amount and an affiliate marketing idea that will be profitable enough to make it worth your while to do the work. I always recommend that new people try to start off in affiliate marketing by doing something that they love to do. You’ll be doing a LOT of writing and it’s much easier to write about things that you love to do than it is to have to learn something new or, worse yet, take on something that you really don’t enjoy just because you think there’s money in it. Been there, done that. It’s just not necessary with all of the options available now. Sit down and make a list of 10-20 things that you either love to do, don’t mind doing or know a lot about from job experience, college, ect and then start looking at those markets by doing keyword research. Look at the markets FIRST! You could have the latest, greatest product on the planet, but if there is not a market for it you’re dead in the water. Look and see what others are selling and also look at “how” they are selling it. Get yourself prepared with a few affiliate marketing ideas and solid research before you start and your odds of succeeding will skyrocket! Good luck!

Website Marketing Strategy

Ebusiness is the hottest type of commerce these days, and it seems like everyone’s getting into the craze. Websites abound and if your business doesn’t have one yet, you certainly should look into having one made. Many people think that the internet is only for services and things related to the virtual world, but any product and service can be marketed through modems and monitors. It is essential that your business have a solid internet marketing strategy in order to succeed. It really doesn’t matter if your services are virtual or real. In fact, regardless of whether your business is operated from your computer desk or inside a building is irrelevant. You should be marketing your company using whatever means you have, if you want it to be successful. Use every tool and resource you can to promote your business to reel in sales and income or to make your venture well known and recognized quickly and easily by many people. Keep in mind that in today’s technological world, a good internet marketing strategy will make or break your business. If you don’t promote your products and services properly in a manner that’s swift and efficient, capturing the interest of society’s fast paced and short attention span, you’ll have sinking sales and a company that’s failing on your hands. The problem with opening your own business and pushing it to become a successful one is that many people don’t know the first thing about promotion. How does one go about snagging people’s interest in the blink of an eye? What really does work as far as getting people drawn to your website and ultimately, buying your product or service? If you’ve got a website, how do you make it one that people find on their own, saving you trouble and time, and not just a site that you refer them to? If you’re handy with programming or have time to surf the web and read up on how to market your business, that’s great. There are many things you can learn about and do on your own to send your company into the ranks of the popular or boost up those search engine hits. Most people, however, don’t have the know how, the interest or the time to want to devote hours to making your website a popular one. Certainly, you want to focus on your products and services; while being versatile and able to touch on many different skills and abilities, sometimes you just cannot afford to and it’s best to hire a specialized company who can handle the fundamental aspects of an internet marketing strategy for your business. The written word is an important part of striving for success. Since most of what we discover on the internet is either visual images or text, an internet marketing strategy that will work should be geared to effective methods of using language to capture readers and have them follow links and hits to your website. The use of pertinent articles […]

Business Training Company

A number of research studies undertaken have shown that productivity displays a marked increase both during and after the business training activities and processes have taken place within a variety of different companies and institutions. Figures that have been quoted by some researchers indicate that there is over a 200 percent increase in workers that have undergone specific business training compared to those workers conducting the same role within the same company. One of the main issues of business training involves the fact that the training required must be specific for that business and must be aligned to the businesses strategies and objectives. Once these have been identified and described both correctly and comprehensively, the business training can be designed around the shortcomings or determined areas of development. Upon successful application of the business training objectives and program further benefits that are realized for the company include staff retention, improved quality, productivity, as well as company competitiveness. These benefits must be viewed in the light of the return on investment that the company has paid for in terms of the business training, and that is exactly how business leaders and owners should view the training process; as an investment in the business as a whole. Some research figures that have been quoted on the abovementioned business areas that are affected include; staff retention is represented by the fact that the loss of a competent person can actually cost the company an equivalent of that persons annual salary package, which would be invested in the successor. Based on the mentioned research there was found to be a 70 percent reduction on staff turnover, which leads to an astronomical return on investment of 100 times that amount. The benefits of increased productivity and quality which are a direct benefit in post training situations help to improve customer service levels, correct work and safety procedures as well as accuracy and efficiency; which can all be provided by suitable and effective training. The issue of competitiveness remains a constant area of monitoring and improving upon in the current global market; it is vital that every business remains competitive on an ongoing and ever changing basis. This entails suitable training which affect implementation of new systems and technology, as well as consistent training to align staff objectives according to the business aims and goals. Business training serves to ensure that employees, on all levels, continually to improve themselves in line with the business, it requires that the morale is kept high and staff turnover is kept to an absolute minimum. This occurs whilst equipping the staff with the necessary skills to ensure safety, quality and ongoing productivity within the business environment.

Internet Business

When you are looking to find an internet online business idea that really works for you, remember that there are many online business ideas out there on the net. No matter what site you are visiting, if you do a search you are going to find plenty of places that will direct you to online business opportunities. It has simply never been a better time than right now, to find work online. The only problem with internet online business ideas is that you have to do your own research to be sure that they are legit. This only becomes a problem if you have found yourself in the type of situation where you are being asked to pay money in turn for getting job opportunities. If this is happening you might want to reconsider your idea of getting work online. This doesn’t mean that you aren’t going to be able to find work online, it simply means that if you are able to, you should be finding lots of work that is actually going to make you money. One thing that you have to understand about internet online business opportunities is that you really have to work to make sure that they are real. However, it is just a matter of being willing and ready to actually do the work. If you can take the time to research the job opportunities that you have been given, you’ll easily be able to see what is real and what is not real. In fact there are many places that will allow you to make money online. When it comes right down to it, this should be something that you really consider, because, after all, you are going to be able to make money from home, on the internet, and you’ll be able to be at home and enjoy your time at home at the same time. This is a great way to make sure that you are giving yourself plenty of time to be happy.

Example Of Small Business Plan

We all have a tendency to map things out in our heads and together with some rough calculations on the back of an envelope, we quickly convince ourselves that it is all possible. In practice, we tend to gloss over the less attractive details. Consequently, many people dive straight in and start a business without the necessary planning, which often results in a false start costing the owners money and time. Business plans can vary considerably but the essential sections are shown below: (1) Executive summary. The executive summary provides a very succinct look at the business. It is similar to the elevator conversation where someone important to you asks what is this all about? Why are we looking at it? This is your opportunity to make a fast impression and engage the reader so that they fully understand where you are coming from. (2) Industry analysis. Probably the greatest risk for any business is a lack of knowledge about the industry and the market. It may sound like a great idea to start an alternative lifestyle and run an olive farm as described in our example. Probably many people do just that. They invest all their savings in to the business. They mortgage their home. Then they trust to good luck to make things work. In practice there is nothing to replace thorough research an analysis of the industry and the market. (3) The business The Business section of the Business Plan is a simple statement of the facts clearly laid out. It usually results in a one page factual summary showing the business relationships. (4) Products / Services Businesses can take many forms and may deliver either products / services or a combination of the two. For instance a company that sells floor tiles may also offer to lay the tiles as a service. This section should clearly describe the products and service offered by the business. (5) Production This section needs to be very dependent on the nature of your business and the sample we are using simply illustrates how this can be done. For example if we had a cake shop we would need to consider: oThe raw materials such as flour, eggs etcoThe tools that are required such as mixers, oven etcoThe instructions and process usedoThe timing for each stage For many businesses there will be no production as such, however you may be providing services and the section could be used to describe the methods used to deliver those services. (6) Marketing The marketing strategy should be a simple statement to set the scene for the rest of this section. It enables the reader to focus on the areas of interest rather than looking at the full range of marketing possibilities. (7) Financial information You need to be able to express the current financial status of the business in a way the readily understood by the reader. For an established business this would involve the use of a Balance Sheet which clearly itemises the […]

Hotel Business Plan

I’m a 2005 Hurricane Rita evacuee and fortunately made it through a hellish evacuation process and ensuing hurricane with hardly a scratch. Running from a hurricane and dealing with its landfall is not something I’ve ever had to do before, nor is it something I’d ever like to do again. However, as an solo business owner, I’m quite thankful that I have an online business. The fact that I own a virtual company and can operate from anywhere that there’s electricity and phone service was of great help to me in this disaster. It was a primary factor in helping me reopen my business a scant 4 days after the landfall of Hurricane Rita when so many brick-and-mortar businesses were still shuttered for weeks after the storm. As an online business owner, what can you do to make your business disaster-proof? It seems that we have an increasing number of hurricanes making landfall in the coastal states, and add to that an increased number of other types of natural disasters like tornadoes, earthquakes, wildfires, mud slides, ice storms, blizzards, etc. makes me think that there is no ideal location in which to operate a business. Accepting that natural disasters are here to stay, here’s what I learned from my hurricane evacuation that helped me get my business back up and running quickly: 1. Know the location of your vital papers. You should be able to quickly put into a folder the following for you and your family: –marriage license –birth certificate for you and your children –social security card –bank account information, including bank routing number –driver’s license or state ID card –car title/mortgage info and insurance contact info –house deed/mortgage info and insurance contact info –apartment lease or copy of a utility bill and renters insurance contact info –employee ID card If you have documentation of your home contents, bring that information as well. In a disaster, you’ll be asked to prove where you live and that you are who you claim you are, especially when applying for disaster assistance. You may also have to initiate damage reports on property, so having those files at your fingertips will help you expedite the process. 2. Have an online backup of all of your computer data. I back up my computer in two ways–to an external portable hard drive as well as to an online backup service. I use both because my files are my livelihood — I would be dead in the water without them — so I want to leave absolutely no room to lose my data. For my external backup, I use a 100 GB portable drive made by Seagate, and for my online backup, I have unlimited backup available through Carbonite.com You can also use an online office system, like CentralDesktop.com or OfficeZilla.com, to upload and store many of your data files, calendar events, or contacts you might need to access. 3. Create a file with vital contact information. I copied a file with all of my […]

Score Small Business Plan

Congratulations on deciding to start your own business!! Now, let me tell you that a business plan is a very personal (to the business) and unique document. So, the last thing you want to do is to buy a software for business planning purposes unless you need this business plan simply for the sake of having a business plan on the shelf. Don’t let me, any book or a software force you into writing more than what your business needs as a business plan. And, I had strongly suggest you writing one by yourself. For a very simple reason that your business is your baby and no one knows it better than you do… If you need help, you should look for Govt. and Non Govt. resources for small businesses and entrepreneurs, like local chamber of commerce, and chapters of SBDC &/or SCORE. Try advisories, go big network, linked in and similar networks to find a business consultant ready to do some pro-bono work. A very simple and practical approach would be: write a rough draft of your idea and everything that you think about it. Bounce these ideas at others and gather unique perspectives, feedback and more ideas, document those too. Lay out your monthly fixed costs (rent, wages etc) along side your variable costs and then compare it with your prospective income sources. Run this schedule for at least 24 months. Use this schedule to see how much money you can go down for before the business works. Do you walk away five grand down after six months, or do you get lumbered with a hard to sell, expensive to keep, lease? Figure out, what happens if you reduce your income. Do break even analysis – what is the lowest level of revenues at which you can make it work? Write why and how sure you are that you will do better than anyone else who is doing the same. If you’re the only one doing or planning to do this then chance are either the idea is not profitable or you have no idea about your competition. So, do more research about the business and try to figure the realistic bottom line for the business. All this analysis and work above was for you to practically decide – do you still want to do it? If yes, then draft a business plan using the free resources like Microsoft template and many more available in the market – this draft initially should include what you have done that makes you sure this will work. This may simply be – I have a contract, I know the business, there will be more, or it may be a thorough market research, traffic counts, industry statistics and the likes. Put the schedule we did in the first place, into a spreadsheet and lay out the rest in whichever format you like. Remember, a business plan should be very flexible as businesses and the economy changes very frequently and so should our […]