...Creating a Business Plan Entrepreneurship is the basis of the American dream. It can be one of the most rewarding occupations. Owning a business, making key decisions, and becoming financially independent are very rewarding benefits. Many people see starting a business as something that they will never be able to do, be it because of finances, interest, or knowledge. If people follow certain steps, entrepreneurship may not be as difficult as originally thought. Starting a small business requires skills, planning, and devotion. Certain skills are beneficial in starting a business. Being able to interact with a variety of people such as customers, vendors, employees, bankers, and lawyers is a must. Another trait required to run a business is being organized. An organized business runs smoothly and is not overrun with paperwork. Stamina is also a must. Business owners can spend twelve to fifteen hours a day working. Training for starting a business can be as simple as reading books and internet business guides. Having a college education in business management is not a must, but it can be very beneficial. Planning for a business is one of the most important steps in entrepreneurship. A business plan is a formal document explaining in detail plans for a financially successful business. Any lender will ask to review the business plan before any money is loaned. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues...
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...Important of Creating a Business Plan By Kannitha, BBU student, Aug 2013 Table of Contents Table of Contents 2 Executive Summary 3 1. Introduction 4 2. Findings 4 2.1 Business plan definition 4 2.2 The important of business plan 5 2.3 Business plan writing technique 7 2.4 Major aspects of the business plan 7 2.4.1 Introduction Page 8 2.2.2 Executive Summary 8 2.4.3 Business Description 9 2.4.4 Products and Services 10 2.4.5 Marketing Plan 11 2.4.6 Competition 13 2.4.7 The Management Plan 13 2.4.8 The Financial Management Plan 14 2.4.9 Risk Assessment 15 2.5 Readers of the business plan 15 2.6 Failure of business plan: 15 3. Lesson learnt 16 4. Conclusion 17 5. Recommendations 18 6. References 18 Executive Summary Business plan is considered as an important and it actually serves as a compass for the direction of business for the future. Having a plan will also help business people to achieve the things they want to achieve. A business plan is not just a document, but it is a holistic analysis of a company, the environment it operates in, and a road map to achieving success. Business planning is an essential element of running any successful business. Business plan formulation would need to consider on many aspects and ensure that business would be success. Those include introduction, executive summary, description of business, management and organization plan, marketing...
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...Mini Business Plan for a Construction Company Francis Marino Everglades University Online June 25, 2013 ABSTRACT This case study assignment is about creating a mini business plan for a proposed construction company. By researching all aspects of what a business plan is, the contents/information that goes into a business plan and how to properly form a business plan, will allow me to create the mini business plan that this case study requires. This business plan with include information on the company description, executive summary, market analysis, business structure and the last section with be about the financials of the proposed company. PROPOSED BUSINESS PLAN Company Description & Executive Summary: FJM Enterprises, LLC is a small construction company located in Magnolia, NJ. The company is in the startup phase and is considered a commercial construction & mechanical contractor. The company is self-certified as a Service Disabled Veteran Owned Small Business (SDVOSB) and is currently in the process of obtaining certification with Veteran Affairs in order to conduct business with that organization. The primary focus of work and bidding will be on H.V.A.C., boilers, cooling towers, and all aspects of construction relating to federal, state, and set aside contracts (Business Plan Executive Summary, SBA.gov, 2013). FJM Enterprises offers wide-ranging services intended to allow the company to do anything and everything it takes to complete a project...
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...Creating a Business Plan Harvard Business Press Boston, Massachusetts ISBN-13: 978-1-4221-6687-1 Creating a Business Plan Pocket Mentor Series The Pocket Mentor Series offers immediate solutions to common challenges managers face on the job every day. Each book in the series is packed with handy tools, self-tests, and real-life examples to help you identify your strengths and weaknesses and hone critical skills. Whether you’re at your desk, in a meeting, or on the road, these portable guides enable you to tackle the daily demands of your work with greater speed, savvy, and effectiveness. Books in the series: Leading Teams Running Meetings Managing Time Managing Projects Coaching People Giving Feedback Leading People Negotiating Outcomes Writing for Business Giving Presentations Understanding Finance Dismissing an Employee Creating a Business Plan Managing Stress Delegating Work Shaping Your Career Persuading People Managing Crises Managing Up Becoming a New Manager Managing Difficult Interactions Hiring an Employee Making Decisions Managing Diversity Executing Innovation Creating a Business Plan Expert Solutions to Everyday Challenges Harvard Business School Publishing Boston, Massachusetts Copyright 2007 Harvard Business School Publishing Corporation All rights reserved No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording...
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...Business Plans: Implementing and Designing Professor Laura Alderson MGMT 3510-001 University of Memphis By Keara Collins 1 April 2014 Business Plans: Implementing and Designing Each and every day Americans are striving to become more independent in the business world. Being a business owner is very exciting, but it requires knowledge, work, skills and maintenance. One of the best ways to design and implement a business plan is to write the vision and do the research. There are procedures on how to keep a business effective (Covey 1989). Research and knowledge helps to ensure the companies stability and longevity. Behind the Scenes Work The creation of a successful business will always take time, research, and work. There are many available resources to potential business owners. One of the most important aspects to starting a business is putting in the work to start the business, and keep the business. Successful businesses are not given to those who lay idle but to those who change their perception and work for end results (Covey et al.,1989). People must be willing invest the time and money into the business. Research past business successes and failures of similar businesses and take notes. The greatest leaders were once followers (Maxwell 10/02/2012). Skill is required when starting a business, skills are essential because it shows an area of specialty that the business owner has and a great amount of knowledge in that area. Sacrifices have to be made...
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...characterize a job or task; * select learning outcomes that are appropriate for instructional development; * prioritize and sequence tasks; * determine instructional activities and strategies that foster learning; * select appropriate media and learning environments; * construct performance assessments and evaluation. Below is a goal analysis I developed to assist learners in understanding the business planning process for a beauty business. Goal: At the end of six weeks, learners will know the main components of a business plan and through the use of business planning software, will develop a business plan that will be used to measure comprehension and be used to obtain financing for starting a new beauty industry business. Objectives: * Understanding the purpose of business planning-Through discussion, lectures and research, learners will understand the main components of a business plan, the purpose of a business plan and why a regularly updated and professional looking plan can help ensure success throughout the life of their business....
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...employees. Materials The Role of the Entrepreneur 2. How do managers help the company’s stakeholders? A. Assisting customers with their purchases B. Assembling materials into finished products C. Providing financing to grow the business D. Creating profitable goods and services Correct : Managers are employees hired by business owners to “use their resources to create profitable goods and services” (Jones, 2007, p. 74). Materials The Role of Management The Agency Problem: The Separation of Ownership from Control 3. What is a difference between an employee and a manager? A. Employees are responsible for providing vision and leadership B. Employees hold each other accountable for success of the business C. Employees have decision making authority over the organization’s resources D. Employees perform the many jobs to make, facilitate, and sell a product Correct : Employees perform “the many jobs necessary to make and sell a product” (Jones, 2007, p. 82).The main difference between managers and employees is that employees provide direct work for the business, rather than the leadership and oversight of resources. Materials The Role of the Employee 4. Jones (2007) describes a three-stage business plan used by managers. Which of the following is one of the stages? A. Assembling raw materials into finished products B. Calling...
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...20 Reasons Why You Need a Business Plan Written by Pete Kennedy Categories: * Business Planning 1. To prove that you’re serious about your business. A formal business plan is necessary to show all interested parties -- employees, investors, partners and yourself -- that you are committed to building the business. 2. To establish business milestones. The business plan should clearly lay out the long-term milestones that are most important to the success of your business. To paraphrase Guy Kawasaki, a milestone is something significant enough to come home and tell your spouse about (without boring him or her to death). Would you tell your spouse that you tweaked the company brochure? Probably not. But you'd certainly share the news that you launched your new website or reached $1M in annual revenues. 3. To better understand your competition. Creating the business plan forces you to analyze the competition. All companies have competition in the form of either direct or indirect competitors, and it is critical to understand your company's competitive advantages. 4. To better understand your customer. Why do they buy when they buy? Why don’t they when they don't? An in-depth customer analysis is essential to an effective business plan and to a successful business. 5. To enunciate previously unstated assumptions. The process of actually writing the business plan helps to bring previously "hidden" assumptions to the foreground. By writing them down and assessing...
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...Creating a Successful Business Plan (for the Artist) Creating a Successful Business Plan (for the Artist) Prepared by SaskMusic (the Saskatchewan Recording Industry Association) http://www.saskrecording.ca/ The following document was created strictly for those interested in understanding the different aspects of a business plan. There are several models for creating business plans and as such, this is only one possible model. Make sure that you are writing a business plan which best reflects you as an artist and your music. Just a reminder: Your business is your music, your band and all of the promotion and marketing that you do for yourself so that you are successful in this industry. What is a Business Plan? The business plan outlines your professional goals, how you will achieve those goals and the resources that you have and need to get in order to achieve those goals. It is basically the story of your career and your business. The business plan takes you from the “idea stage” to the “action stage.” Why Write a Business Plan? At the very basic level (and perhaps the most important level), the business plan will allow you to focus your thinking, set a realistic plan with realistic goals, and get you moving forward with your career. Additionally, the business plan can be used to bring in key players whom you would like to have as a part of your team. These key players might include prospective managers, agents, labels. The business plan shows these...
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...The Cost of Business Continuity Planning Versus the Potential of Risk Though the cost of mitigating risk can be high, the lack of proper business continuity planning and disaster recovery planning will leave a company is at risk of a catastrophic loss of revenue due to the loss of the Information Systems. Any company that relies on its Information Systems for their operations should invest the time and revenue in developing an efficient and effective Business Continuity Plan (BCP) and a Disaster Recovery Plan (DRP). This study will compare the differences in what a Business Continuity Plan is used for and what a Disaster Recovery Plan is used for. Additionally, it will evaluate the risk having a Business Continuity Plan and Disaster Recovery Plan versus accepting the potential loss of revenue and business in the event of a disaster. It is important to any company that uses it Information Systems to generate revenue. If a company is effected by a disaster, the longer a company takes to respond to the emergency and recover its resources, the more time it will take the company to get back to normal operations (Harris, 2013, p. 887). As history has shown, our world has and will continue to experience many destructive events such as, floods, earthquakes, terrorism, hurricanes, and many other catastrophic events that could cripple a company that is not prepared. Disasters are uncontrollable and over time, every organization will have to deal with the fallout of a disaster. Three...
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...20 Reasons Why You Need a Business Plan Categories: * Business Planning 1. To prove that you’re serious about your business. A formal business plan is necessary to show all interested parties -- employees, investors, partners and yourself -- that you are committed to building the business. 2. To establish business milestones. The business plan should clearly lay out the long-term milestones that are most important to the success of your business. To paraphrase Guy Kawasaki, a milestone is something significant enough to come home and tell your spouse about (without boring him or her to death). Would you tell your spouse that you tweaked the company brochure? Probably not. But you'd certainly share the news that you launched your new website or reached $1M in annual revenues. 3. To better understand your competition. Creating the business plan forces you to analyze the competition. All companies have competition in the form of either direct or indirect competitors, and it is critical to understand your company's competitive advantages. 4. To better understand your customer. Why do they buy when they buy? Why don’t they when they don't? An in-depth customer analysis is essential to an effective business plan and to a successful business. 5. To enunciate previously unstated assumptions. The process of actually writing the business plan helps to bring previously "hidden" assumptions to the foreground. By writing them down and assessing them, you can test them and...
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...CREATING SHARED VALUE IN THE SUPPLY CHAIN-‐ THE NESTLE COCOA PLAN SUBMITTED BY: KUSHAL RAMESH (001753444) SUPPLY CHAIN MANAGEMENT 6210 CREATING SHARED VALUE IN THE SUPPLY CHAIN-‐ THE NESTLE COCOA PLAN INTRODUCTION Nestle was founded in 1866 by Henri Nestle. It has its headquarters in Vevey, Switzerland. Nestle is today the world’s leading nutrition, health and wellness company. Nestle employs 339000 people worldwide and has 442 factories in 86 countries. Nestle’s products include baby food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks. Creating Shared Value: Nestle aims to create value for society and shareholders in the areas where the company can have the biggest impact-‐ nutrition, water and rural development. These are core to its ...
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...main principles of management. Your business is the correspond of the whole decisions you make, with the need of a vision to achieve your objectives. Customers are the real evaluation of your good decision. So base your decision to get best feedback. Planning is a systematic process to get the best use of resources, methodology, and projected outcome in specific period of time. Each plan supposed to have a clear goal and objectives. Organizing is the distribution and use of resources such as capital, information, physical resources, and people. Leading which is another definition of directing people. Leading includes motivating and working in teams. Leaders should have basic skills like communication skills, and they could have a greater impact by leading by example. Controlling includes monitoring, evaluating, and correcting to achieve goals and objectives. Controlling and monitoring are much linked and similar. ACTION PLANS The best way to manage and organize a business is to follow the three action plans, which begins with setting up an operations plan, creating a management plan, and creating a contingency plan. Operation plan starts by setting the whole process and steps from supplying the raw material till delivering it to the customer. A good method to set an operation plan is to sketch the wok area, and the distribution of tasks and processes with the timing of receiving/producing the product and delivering it. Management plan is a simple way of saying “managing...
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...| The Importance of Business Strategy | MT460/04 | | Management Policy and Strategy Unit 2 Business Planning The Strategic Management Concept The concept of strategic management involves several different aspects of business. In the simplest terms, a company generates objectives and goals by which it would like to operate. The manner in which those goals and objective are accomplished and the strategic decisions made regarding those fall into the concept of strategic management. There are several different key elements in the strategic management process. A company must first set a high level overview of what it would like to accomplish. This may include its mission statement, objective and subjective goals and also company philosophies. The company must then study itself to determine its strengths and capabilities as well as its internal makeup. This is called doing an internal analysis. After conducting an internal analysis, an external analysis must also be completed. This includes studying factors that are typically outside the realm of control for a company. This will aid in understanding the current market conditions as well as trends by competitors to help align business focus. Being able to understand the external environment will help a company be better suited for change if needed when situations arise in the external environment. Devising a plan and creating a vision for a company’s long term goals is vital for creating a direction towards which...
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...Week one assignment Developing business strategy Done by Anton Nechyporuk Stevens-Henager College 1.The definitive Handbook of business continuity management (Third edition) The structured format, with many revealing case studies, examples and checklists, provides a clear roadmap, simplifying and de-mystifying business continuity processes for those new to its disciplines and providing a benchmark of current best practice for those more experienced practitioners 2. Secrets to Writing a Successful Business Plan This book is most relevant for this class, because of a lot important information how to build a successful business plan, etc… • A pro shares a step-by-step guide to creating a plan that gets results by Hal Shelton that open my eyes to insider tips, hints, and techniques for creating a winning business plan. • Discover why I need a business plan and the best style for me. • Receive step-by-step guidance for creating each section of my plan. Learn how to create a business plan for a nonprofit. 3. The fifth Discipline field book This book is a collection of theoretical summaries, reports, analyses, and strategies all quite useful to anyone interested in generating some thinking and action around change. A hands-on guide to creating a learning culture in organizations. This is my go to resource for management and strategy. With case studies and opportunities for reflection, this isn't a book to read cover-to-cover as much as it is...
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