Casual Articles - Business

Is it Spring Already?
Probably the most confusing time of the year for the freelancer is spring. There are so many great things going on it is very hard to keep your mind on work.The constant life consuming choices of home depot or office depot, lawn mower or computer, notebook or gardening tool can make us want to crawl in a hole and forget the whole thing.To organize your gardening, home improvement, yard, family and your business is more than a daunting task, it is almost impossible. I have found a way to do it all and not die trying. Lists. Lists and more l

siness, but (unless you’re really lucky) it probably isn’t going to happen. Spend a significant amount of time developing your financial forecasts to make them realistic. Don’t just rely on your gut feeling to make the estimates. Use the information that you’ve gathered from your market research and other sections of your business plan. Creating your pro forma financial statements can be a pain, but it’s very important. You may want to cons

The Business Security Quiz - How Much Do You Know About Business Security?
Businesses are suffering major losses everyday because of lapse security policies, yet surprisingly enough, many are clueless to just how big of a problem security is becoming. You may think that a security threat isn't high-priority, but the amount of data breaches and data loss has been on the rise for the past several years.Such threats do not only include hackers and scammers, but even one's own staff can put a business at risk. In fact, businesses are losing on average, $3.4 millions dollars per year, because of data breaches that involve inter

Entrepreneurs and small business owners often ask what the keys to successful business plan writing are. Obvious mistakes and omissions are pretty common – especially for first-time business plan writers who don’t know how to write a business plan. Fortunately, these mistakes are also easy to avoid. Here are eight tips that will help you write a business plan like a pro!

1. Start with the end in mind – In Alice in Wonderland the Cheshire Cat told Alice, “If you don’t know where you’re going, any road will get you there.” The same applies to your business and your business plan – If you don’t have a goal, you don’t need a plan.

You already know the importance of a business plan, so sit down and outline your goals before starting to write it. Where do you want the business to be in five years? What is the mission of the business? Do you want a large corporation, or do you just want to live comfortably and pay the bills? Do you want your business to be acquired eventually? By answering questions like this and starting with the end in mind, you will be able to focus your business plan in the right direction.

2. Learn about your customers through market research – You might think you know your customers, but have you actually sat down and talked to them? You can create the coolest widget in the world, but if no one wants your cool widgets, your business will be a bust. Talk to your customers. Do surveys. Lead focus groups. Find out where customers are not getting their needs fulfilled and build a product that fulfills these needs. A little market research can go a long way.

3. Be realistic with your financial projections and expectations – Sure, we’d all love to make a billion dollars in our second year of business, but (unless you’re really lucky) it probably isn’t going to happen. Spend a significant amount of time developing your financial forecasts to make them realistic. Don’t just rely on your gut feeling to make the estimates. Use the information that you’ve gathered from your market research and other sections of your business plan. Creating your pro forma financial statements can be a pain, but it’s very important. You may want to cons

Aligning Your Company With Your Brand for Profit
Q: What makes branding unique for business-to-business companies and is it as important for them as branding is for consumer product companies?If your business provides products and services to other businesses, you can achieve the benefits of a strong brand identity in customer loyalty, buying preferences, and referrals to other customers. However, the relationship with your customer is far more complex than when compared with consumer product relationships. Business to business service companies must go above and beyond just satisfying the clien

e Cheshire Cat told Alice, “If you don’t know where you’re going, any road will get you there.” The same applies to your business and your business plan – If you don’t have a goal, you don’t need a plan.

CEO Pay VS Rank and File
Many complain that CEO make too much money, as the average is some 300% more than the rank and file. If the companies were doing well that is no problem, yet if the company is rolling in the profits it would make sense and the shareholders might agree that this is a good policy, as it is a reward for success. Unfortunately many poorly performing companies are still paying the CEO too much. The CEOs say it is very difficult to run a company in bankruptcy or which is losing money? Yet, if that is the defense then the reward comment for profitable companies ma

n, or do you just want to live comfortably and pay the bills? Do you want your business to be acquired eventually? By answering questions like this and starting with the end in mind, you will be able to focus your business plan in the right direction.

Committed to Nothing
My uncle recently retired from a large manufacturing company after 40 years of service! This is no doubt a great accomplishment, and I congratulate him for this achievement. However it really does cause me to wonder. Could I ever work for the same company for 40 years?Let’s just put this into perspective.My uncle retired in 2006 which means he started working in 1966. Let’s put this in modern terms. I graduated from college in 2003 and was very fortunate to land a job at a great company in December of 2002 before I graduated. If I were t

et in the world, but if no one wants your cool widgets, your business will be a bust. Talk to your customers. Do surveys. Lead focus groups. Find out where customers are not getting their needs fulfilled and build a product that fulfills these needs. A little market research can go a long way.

Cut Your Losses By Advertising Offline
It has taken roughly four years of working online to understand what actually works and what does not. If you are trying to promote any business the most simple concept is that you need customers and how to obtain them. What I have found online is that there is seductive ad copy promising great results and hungry traffic that gobbles up your online goodies faster than you can stock your virtual shelves! Complete and utter hogwash! Do not believe for one minute what these gypsies are conveying through their deceitful practices. Recently I ordered 10,000 visi

4. Don’t ignore the competition – Do you really know who your competitors are? A lot of business owners make the mistake of believing that their business exists in a vacuum. Ignoring your competitors is asking for failure. Analyze where they are at currently and where they are heading. Try and predict how they will react to the introduction of your new products and services. A comprehensive competitive analysis is an important step in successful business plan development.

5. Emphasize what makes you different from your competitors – Differentiation is a key to building a successful business and generating interest in your business plan. As you write your plan, try to bring out what makes your products different from the products already offered on the market. This will make your plan much more interesting and attractive to potential investors.

6. Have your business plan reviewed by a third-party – Remember in high school when your teachers told you to have a friend or parent proofread your papers? Well, it’s still good practice to have someone else review your work. A second set of eyes can really help you uncover out the portions of your plan that are confusing or poorly developed. There are business plan review services all over on the internet that you can use. You can also have a trusted, experienced associate read through your plan.

7. Be willing to take risk – Starting a business takes time and money. It’s possible that you’ll never profit from the time and money you invest. Investors will take a risk by giving your business money. Demonstrate that you are also willing to take some level of risk and include this in your business plan.

8. Don’t give

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Casual Articles - Eight Tips for Successful Business Plan Writing

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