...U.S. Small Business Administration MP-5 BUSINESS PLAN FOR THE SMALL CONSTRUCTION FIRM Management and Planning Series ______________________________________________________________________________ The material in this publication may not be reproduced or transmitted in any form or by any means -- electronic, mechanical, photocopying or other -- without prior written permission of the U.S. Small Business Administration. "How to Write a Business Plan." Copyright 1990, Linda Pinson and Jerry Jinnett. All right reserved. All of SBA's programs and services are extended to the public on a nondiscriminatory basis. ______________________________________________________________________________ TABLE OF CONTENTS INTRODUCTION A Note on Using This Publication 1 What's in This for You? 1 Why Are You in Business? 1 What Business Are You In? 1 MARKETING Where Is Your Market? 2 Advertising 2 Competition 3 Sales Strategy 3 PLANNING THE WORK 4 GETTING THE WORK DONE Personnel Requirements 7 Equipment Requirements 7 PUT YOUR PLAN INTO DOLLARS Expenses 8 Matching Money and Expenses 8 Is Additional Money Needed? 8 CONTROL AND FEEDBACK 9 IS YOUR PLAN WORKABLE? 9 IMPLEMENTING YOUR PLAN 9 KEEPING YOUR PLAN CURRENT 10 APPENDIXES A. Income Projection Statement 11 B. Cash Flow Projection Construction Firms 15 C. Balance Sheet 17 D. How to Write a Business Plan 21 E. Information Resources 25 ______________________________________________________________________________ INTRODUCTION A business plan can...
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...ADM 3713 - Management of Information Systems 24 May, 2014 For Companies Both Big and Small: Running a Business on Smartphones Table of Contents Introduction Question 1 Question 2 Question 3 Citations Introduction CPS Energy a company based in San-Antonio, Texas, the nation largest municipally owned energy utility providing both natural gas and electric service. Christopher Baaron, CPS Energy's vice president and chief information officer show that external changes was imminent or else they won't have been a position to compete in the future that's when the company introduced the Magellen Program; as a better way to mobilize and connect its traditional workforce to the people and systems they needed to do their jobs. The goals of the program is to extend CPS’ networking infrastructure, build its own secure wi-fi networks in offices and warehouses, deploy smartphones and custom mobile applications to all CPS staffers who didn’t have a laptop or other mobile device. Previous to the Magellan Program CPS workers had limited access to IT systems and resources if they are not in the office or warehouse, they had to be physically present to diagnose problems, which meant deploying several employees to a particular problem site taking several days to finish. Lloyd's Construction in Eagan, Minnesota, a family run company that provides expert demolition, excavation, roll-offs, waste management, and related services, taking down commercial...
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...How can small and medium- sized companies benefit from the use of business technology software? The purpose for the majority of the small and medium-sized companies is to improve their sales or growth. Nowadays, the online sales and the electronic data analysis represent a crucial phase to achieve this. Since a considerable number of years now, the use of software in the decision making by the large companies has been a regular practice. The competition this business faces is fearful, and the decisions are in some cases critical. On the other hand this scenario does not always apply for the small and medium ones. There are three main reasons for this. First, their sales are not as considerable as they can be for the large business. This means they do not confront the same decision-making pressure as the large ones do. Furthermore the potential negative consequences from bad decisions do not impact as hard as it does in large business. Second, the characteristics inherent to this type of business such as the attraction of customers according the location and design of the facility, or the extensive display of goods to facilitate the selection of them (1) generates often a switch of consumers. Ergo, purchases from another business due to attractive circumstances, for instance provisional especial price in a product or service are common situation. As a result the potential “single-time custo{NOTE:no se si es correcto poner esto entre comillas}mers” can provoke a significant...
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...IS SMALL BEAUTIFUL? Examining whether size plays a role in the entrepreneurial process Business Thinking – Comm-210 Section GG Instructor: Dr. Isabelle Dostaler Prepared by: Group no.2 Faizan Khan Dorfam Kheiri Elissa Kheirallah Talal Challah Kayla Fuelscher i.d.# 6289169 i.d.# 6114199 i.d.# 6329934 i.d.# 6351964 i.d.# 9098895 Date Due: Date Submitted: April 11th, 2012 April 11th, 2012 The triumph of an underdog story seems to be mythologized in North-American culture. That may, in part, explain why small innovators are often lauded as white knights, champions of business ethics whose chief preoccupation is to galvanize a moribund economy with up-to-the-minute ideas. At any rate, reality deals a heavy blow to newly-minted entrepreneurs. Centralized, staff-laden enterprises possess the economic clout to employ economies of scale, making it very hard for the small business owner to break through. Amidst this competition, can small businesses truly thrive? Is small beautiful? In order to reach a satisfying answer, one may examine the trickle-down effect of employer-employee relations. In particular, the manner in which professional relationships in small enterprises can influence the company’s decision-making process, core values, and competitive advantage. To answer this question, a two-pronged approach...
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...characteristics of Small Industrial Business. THE MAIN CHARACTERISTICS OF A SMALL SCALE BUSINESS Revenue and Profitability Small-scale business revenue is generally lower than companies that operate on a larger scale. The Small Business Administration classifies small businesses as companies that bring in less than a specific amount of revenue, depending on the business type. The maximum revenue allowance for the small business designation is set at $21.5 million per year for service businesses. Lower revenue does not necessarily translate into lower profitability. Established small-scale businesses often own their facilities and equipment outright, which, in addition to other factors, helps to keep costs lower than more leveraged businesses. Small Structure The organizational structure of a small business is generally simpler than that of a larger corporation. In the smallest sense, a small business could simply be an owner-operator or an owner-manager-employee setup. Other small businesses are a bit larger with a few hundred employees working together in a building or area. A small organizational structure can improve communication among employees at each level or in different stores in a chain. Limited Budget A key constraint for small-scale businesses relative to larger companies is typically a more limited budget. With revenue ranging from a few thousand dollars to a few million, small companies must normally minimize fixed and variable costs of doing business and operate...
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... CHAPTER 6 1. The person who takes the risk of starting and managing a business to make a profit is called a(n): A. entrepreneur B. venture capitalist C. capitalistic adventurer D. franchiser ------------------------------------------------- E. ultra capitalist 2. Andy Yocom saw prime advertising space on the flags on the golf course. He reasoned that any marketing messages would get prominent attention if they were placed on the flags since golfers focus on them when they take their shots. As a result Yocom used his own initiative and money to start Invision Golf Group Inc. Yocom is an example of a(n): A. entrepreneur B. venture capitalist C. capitalistic adventurer D. franchiser ------------------------------------------------- E. ultra capitalist 3. Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii. Retailing for about $5 apiece, the bottles are sold at gift shops in Hawaii, as well as to travel agents nationwide who give them to clients. As a(n) _____, Farmer's annual income exceeds $100,000 annually. A. venture capitalist B. franchisee C. franchisor D. entrepreneur ------------------------------------------------- E. financier 4. An entrepreneur is a person who _____ a business. A. finances B. manages C. locates D. owns and operates ------------------------------------------------- ...
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...------------------------------------------------- Fraud and forensic accounting in small business’ Tasha S. Barnes ------------------------------------------------- Fraud and forensic accounting in small business’ Tasha S. Barnes Accounting fraud is serious issues for all businesses, but they are especially challenging for small companies that are “cash strapped”. Fraud undermine decision making, lead to financial losses and, in some cases, even force companies to lay off staff or shut their doors. Fraud is a common problem for small businesses. According to the Association of Certified Fraud Examiners (ACFE), 30 percent of all fraud occurs in small companies. That is a disturbing fact considering that the estimated fraud loses for business of all sizes was nearly $2.9 trillion in 2009. Fraud occurs so frequently in small business for a couple of reasons. A common reason is that small companies typically have small or even single-person accounting staffs and limited internal controls; lack of separation of duty. It is typical to have the accountant also be the office manager and receiving clerk. Problems can arise if for no other reason than on one double checks the work. Besides being more susceptible to errors and fraud, small businesses also are less likely to discover them because financial audits are almost never performed. It seems, as though a new scam comes to light every day, with electronic-media inspired frauds such as phishing and spoofing, joining...
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...entrepreneurship and small business. * Investigate the importance of small business in the U.S. economy and why certain fields attract small business. * Specify the advantages of small-business ownership. * Summarize the disadvantages of small-business ownership and analyze why many small businesses fail. * Describe how you go about starting a small business and what resources are needed. * Evaluate the demographic, technological, and economic trends that are impacting the future of small business. * Explain why many large businesses are trying to "think small." * Assess two entrepreneurs' plans for starting a small business. | INTRODUCTION There are more than 17 million small businesses operating in the United States today, each representing the vision of their entrepreneurial owners to succeed by providing new or better products. THE NATURE OF ENTREPRENEURSHIP AND SMALL BUSINESS An entrepreneur is a person who risks his or her wealth, time, and effort to develop for profit an innovative product or way of doing something. Entrepreneurship is the process of creating and managing a business to achieve desired objectives. Pushed by technological advances and alliances with other businesses, the entrepreneurship movement is accelerating with many new, smaller businesses emerging. Defining a small business is difficult because smallness is relative. Your text defines a small business as any independently owned and operated business that is not dominant...
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...1.0 introduction A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The legal definition of "small" varies by country and by industry, ranging from fewer than 15 employees under the Australian Fair Work Act 2009, 50 employees in the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs. Small businesses can also be classified according to other methods such as sales, assets, or net profits. 1.1characteristics of a small business Not every small business eventually grows to the size of large corporation. Some businesses are ideally suited to operate on a small scale for years, often serving a local community and generating just enough profit to take care of company owners. Small-scale businesses display a distinct set of identifying characteristics that set them apart from their larger competitors. Revenue and Profitability Small-scale business revenue is generally lower than companies that operate on a larger scale. The Small Business Administration classifies small businesses as companies that bring in less than a specific amount of revenue, depending on the business type. Employees Small-scale businesses employ smaller teams of employees than companies that operate on larger scales. The smallest businesses are run entirely by single...
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...establishing small size company with a little bit capital, another parts think about new investment for medium size companies to develop and consider using potential that has gain at previous experience. While many of these companies can operate own business plan and reaching own targets successfully, some of these cannot move on next process and going to have a failure about management. The purpose of this working is, analysing and discussion the causes of unsuccessful and failure business that lacks of ability and can not progress. Failure of small firms will have been discussed in this work but on the other hand, defeat is realty for the large companies same as well. For example, half of the largest US companies has disappeared between 1974-2000 years (Sheppard,2012). Behind the failure of the firms, there should be many reasons. While the largest companies still continue their business life as developing and getting more profit year after year, why the small enterprises face many problems to reach their target profit and do not find impressive place in a market. Reasons and results for the failure of the small enterprises are going to discuss in this work. Most important reasons were defined that these are lack of experiences of managers and owners, insufficient capital, poor inventory management, poor locations and wrong time for the companies, emotional pricing, not eligible qualification for bank credit and sometimes unexpected growth and personal using of business profit...
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...production line or intellectual contributions such as an engineer designing a new technology (p.7) Capital would be the financial resources companies use to conduct business. You need money to start making money and a lot is needed to start a business. Entrepreneurs are the people to launch new business ventures and accept all the risks associated with. They are innovative leaders who think outside the box. Physical resources would be the tangible things to conduct business (p8). Natural resources, parts, facilities, and equipment would be some examples. Informational resources would be the data used to conduct business. This is a new concept which was brought by the technology boom. These resources can help us in forecasting costs and predict market trends. Some businesses are designing solely on the data mining service. Is one factor more important than the other? If so which one? Why? This is a very tricky question. For my answer, I am basing my opinion on the United States economy. It does differ based on the country chosen. If I picked China, I would say their economy has a heavy importance on the labor factor. Their huge population and cheap labor causes companies from around the world to outsource their production to China. Until recently, China has also had government restrictions which hurt entrepreneurships and business startups. But back to my answer, you should view the factors of production like a chain. Each factor would be a link and if one failed...
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...Current competitive conditions favor: a. large companies with their hierarchies and layers of management. b. companies in industries that were once regulated by government but have recently been deregulated. c. small companies that can quickly move into and out of niche markets as they emerge and recede. d. Both A and B are correct. 3. Which of the following is NOT a characteristic of the typical entrepreneur? a. Confidence in his/her ability to succeed b. Value of money over achievement c. Desire for immediate feedback d. A future orientation 4. Which of the following is NOT a characteristic of the typical entrepreneur? a. Desire for responsibility b. High degree of commitment c. Low energy levels d. Confidence in his/her ability to succeed 5. Characteristics of entrepreneurs include all of the following EXCEPT: a. Tolerance for ambiguity b. Flexibility c. Skill at organizing d. Low degree of commitment 6. Entrepreneurs are characterized by: a. skill at organizing. b. desire for immediate feedback. c. high energy levels. d. All of the above. 7. Entrepreneurs who repeatedly start businesses and grow to a sustainable size before striking out again are known as ______ entrepreneurs. a. Opportunistic b. Persistent c. Serial d. None of the above. 8. Surveys show that owners of small businesses believe that...
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...Similar things can be heard when looking at companies. A big trend currently in business is business growth. Many people in business rate the success of their business purely by how large and quickly they are growing. However, in business planning it is often too easy to overlook some of the dangers of growing a business. In order to have successful business growth, the business must have a plan. Part of that plan is to understand some of the problems that come with business growth and ensure they are not simply growing for growth’s sake. Bigger does not necessarily mean better, nor does growing bigger mean that the business is protected from the same problems (or perhaps more) that smaller companies deal with. CNBC has listed 10 mega companies that are no longer active companies (American’s Iconic Companies that Disappeared, 2015). Amoco was swallowed up by BP. Bethlehem Steel, the world’s second largest steel manufacturer, went bankrupt in 2001. Circuit City went bust in 2009. Compaq Computers was the largest supplier of PC systems in the US in the 90’s but no longer exists. Leeman Brothers with $600 billion in assets had the largest bankruptcy in US history in 2008, and is now defunct. And you can no longer “Love it at Levitz” since one of the largest furniture retailers in the country went under in 2007. MCI, Pan Am, Tower Records, Woolworth, and Washington Mutual were all on the CNBC list as well. Several other companies that are no longer in existence but were not...
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...BI-WEEKLY ASSESSMENT Question 2: "The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in small firms." Evaluate this statement. Introduction With the evolution of society, the phenomenon of globalization has gradually emerged in the field of economy, environment and culture. As a part of economy globalization, close economic connection between countries is bridged by means of international business. In terms of the study of international business, some people assess that it is solely positive for those who intend to work in a large multinational corporation instead of in small company whereas others insist that both international business plays a crucial role in the development of large-scale and small-scale enterprises. Therefore, this essay will argue that international business brings about benefits to individuals whoever are engaged in the big firm as well small one. Development In some circumstances, the size of the company has turned to be one of the obstacles when international business is expected to establish. According to Aaby and Slater (cited in Abdul-Talib et al. 2011, p. 6), small enterprises are more likely to lose international collaboration opportunities than large firms as there are insufficient resources and capabilities to develop export internationally in small-scale company. Similarly, it is shown that the organization would prefer to...
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...This case describes a small business and how its founder, Megan Duckett, used information technology to expand and grow her organization. The company creates and manufactures draperies and backdrops for theatrical productions. Some of the products made have been used by celebrities and famous musicians. Megan has grown the company, which started out in her kitchen, to a multimillion dollar company. Megan attributes a large part of her success to information technology. The company’s Web site launched the business from a local shop to a worldwide organization. Information technology helps all aspects of Sew What. This includes ordering, accounting and storing its thousand of customer and fabric files. Although her company had grown on word of mouth alone, after a period of slow business, she decided to build and design her own Web site. As the business grew, Megan had the Web site updated through a web marketing company. Sew What? and Megan eventually won the Dell/NFIB Small Business Excellence Award, which awards $30,000 worth of Dell products and services plus numerous other gifts. Sew What?, has gone on to win other awards as well. Megan accredits information technology for growing and enhancing her company to a level she never imagined. I believe a small business can benefit from information technology in several ways. Information technology services can help build and reinvent a small business. From small steps like developing a Web page or setting up...
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