In Support of Business Planning

Full disclosure, I’ve taught business plan writing in both a short-form six-hour workshop and a long-form 18-week class, where each session was three hours long. Previous to that, I was skeptical of formal business plans. I was under the impression that all business plans had to be 40+ pages in length and that every element of the standard template had to be populated. Now I know better.

That said, if an Entrepreneur intended to launch a venture that required a physical location, several employees and a bank loan, I would have encouraged that person to write a business plan. But for those who will operate as a Solopreneur who provides B2B or B2C services, then my feeling was (and still is), that planning can primarily center on developing a business model that will bring in clients and a comprehensive marketing plan.

Some Entrepreneurs have been known to build a successful venture without writing down a single word. Their businesses are typically small and self-financed, maybe with some additional backing from friends and family. Particularly if the owner has already run a business, even one that failed, it is possible to learn valuable lessons to apply to a new venture. Writing a business plan is time-consuming, prompting some to recommend that Entrepreneurs can learn by doing. Why not create business strategies on an as-needed basis and test them in combat?

A study of 11,046 companies published in 2010 found that business planning benefits existing businesses more than start-ups. It was hypothesized that leaders of existing businesses know their customers and business environment more completely than leaders of start-up ventures. Leaders of existing companies have more information, i.e. historical data, so there are fewer faulty assumptions born of inexperience.

Another study found that while many businesses can succeed without significant planning, ventures operated by leaders who plan grow 30% faster and are overall more profitable than those whose leaders decline to plan. The link between business planning and growth was reinforced by yet another study that found 71% of fast-growing companies, i.e., companies showing a 90% or greater growth in sales over a 12-month period, were led by a team that planned. Creating marketing and sales strategies, setting sales goals and creating budgets make a difference, as does defining customer needs and the company’s value proposition.

As you may have surmised, a business is less likely to fail when there is a plan in place. A study of 223 companies demonstrated that while business planning cannot guarantee success, it will decrease the occurrence of business failure.

Realize that business plans are not etched in stone, but are intended to be guidelines that can be adjusted as necessary. Identify key metrics and track company performance to test whether your assumptions perform in real-time. If customer needs are changing, then observation of your metrics will signal you to amend your strategy and keep your products and services relevant in the marketplace.

Your start-up business plan, strategic (long-term) plan, or operating (one-year) plan need not be long and elaborate. Keeping it lean and focusing on customer needs, defining your value proposition and business model, spelling out goals and the strategies that will achieve them and identifying metrics that demonstrate either success or the need for adjustments will do your business a world of good.

Start-up Entrepreneurs were reported to be 152% more likely to actually start their businesses when they developed a credible business plan. So if you want to make your dream come true, do the necessary research and put into writing how you intend to make good things happen.

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Top Sources for Financing Your Business

Are you a fresh entrepreneur? Are you looking for funding ideas for your business? Here are a few ideas which will help you to fund your business:

Angel Equity – If you want to get your company to make some real progress then find a person who is an executive in the respective industry to invest in your company. He should be ready to give you venture credibility compared to other companies and start-ups.

Smart Leases – Taking fixed assets on lease basis helps preserve cash for working capital i.e., to cover up inventory and so on. It is usually tough to get financial help for an unconfirmed business.

Bank Loans – Banks are similar to supermarket of liability financing. Banks usually provide short-term, mid-term and also long-term financing according to your requirement. They provide funding for all kind of needs such as equipment, working capital, and also real estate. With this you can of course generate sufficient funding to cover the interest payments and also give back the principal amount.

State and local economic development authority – The state or local economic-development organizations may enticingly charge low rate of interest while providing funds along with a bank.

Customers – Taking advance payments from clients and assuring to provide them service assuming the conditions are not too burdensome and can provide you the funding you require. At a comparatively low cost, you can keep growing your business. But also remember advances exhibit a certain level of commitment.

Vendors – You can take funding from your vendors or suppliers. In this way your financers do not control your business but you do. Make sure to subject yourself to a handful of authoritative supplies.

Family and friends – Friends and family can be the most indulgent investors if you are lucky enough. They will not ask you to pledge your house and some might even agree on low interest rates.

Small Business Innovation Research (SBIR) Grants – Clearing through all the paper-work process and SBIR grants is a great method to seizure your intellectual idea into great money.

Tax Increment financing – TIF grants are generally geared to the development of real estate in a few areas. These grants can be as high as 20% to 30% of the price of the project depending on the area.

Internal Revenue Service – IRS does not do funding. It helps you to reduce your expenses. It evaluates if you can use your profit to expand your business if you pay high amount of taxes.

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Business Financing Strategies – Proof of Product

For individuals that aspire to start a business or even for those that are in the early stages of business operations, one of the key components for attracting investors or obtaining traditional credit via a bank loan is offering a product and / or service with sustainable demand. Warren Buffet talks much about one of his priority criterion for business investment is the sustainable demand derived from a company’s “competitive advantage. How does this translate in a practical way to start-up and early stage businesses?

It is a well-known fact that the engine of the US economy is small business. According to the SBA, small businesses account for 99.7% of employer firms. For clarity, the SBA defines a small business as any manufacturing or non-manufacturing business with less than 500 employees. Prior to start-up and even during the early stage phase (0 to 2 years) of the business, intentional focus and time investment is needed to legitimize the projected demand of the product and / or service offering. Is it enough to just have a desire to operate and own a business? Well, it’s half of the puzzle honestly. True, it’s pretty dreadful to operate a business for the exclusive purpose of making money, but there’s a need for balance. The optimal route is to start and operate a business that you have a desire for and that gives you the opportunity to earn a living and become wealthy.

Here are two ways to “test” the competitive advantage of your product and / or service for sustainable demand:

(1) – Give Away for Free a Sample Version
You can’t beat free. Yeah, there are some that think you can’t give away valuable business offerings for free and expect the market to take you seriously. Well, that’s sort of the point. In other words, value is in the eyes of the market. Ultimately, the market decides whether or not you have something of value to offer with their willingness to consume your free sample version and then demanding more. Also, from a production and cost standpoint, generating free samples is typically marginal in comparison to building out the entire product with an unproven market.

(2) – Create a Presentation of the Proposed Offering and Share with Perceived Target Market for Feedback
Yes, I know it’s scary and down right crazy to expose yourself and your business offering to others in order to get their unfiltered feedback, but there’s an upside to doing this. More often than not, you will discover that either you were way off base OR you just needed to tweak a few things to deliver something of value. Is there a chance that someone could steal your idea and attempt to offer the same product and / or service as you? Sure… if not here then at least in China or the Ukraine, right? Also, it teaches you to have thick skin and not take yourself too seriously.

The point here is not to get bogged down with the analysis paralysis syndrome and looking to create the perfect business. Here’s a news flash: the perfect business does not exist and probably never will. Interact with your target market and understand intimately their pain points. Once you learn these, then it’s time to generate a product and / or service that alleviates these pain points. By listening to your target market and delivering what they want, you in effect will have created a business with a competitive advantage and increased the chances of having sustainable demand.

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How to Start a Plumbing Business

So, you want to start a plumbing business. This could be a terrific decision, or, it could be the worst idea ever. Starting a plumbing business, or any business really, involves a certain amount of structured thinking to put everything in place, and making sure that you have thought of everything. By following this strategy planning process, you will have covered all the important aspects of getting your planning and strategy in the right place, and this will make the starting of your own plumbing business some 450% more successful.

The Strategy Required to Start Any Business

Starting a plumbing business, a bakery, or a high-tech company all requires the same basic thinking strategy. To remember it best, use the EASI acronym. In this case, E stands for emotion, A for achieving a win, S for simple and straightforward and I for the implementation.

Everybody wanting to start a business should be aware that it is going to involve plenty of challenges, hardships, stress, worry, and a multitude of other issues. The process of starting a business has often been likened to jumping off a cliff, and building an aeroplane on the way down. It will mean sleepless nights, long working hours and the unwavering support of family and friends around you. This is real, and the reason so many start-up businesses fail.

The first step, therefore, is to examine the reasons that you want to start the business in the first place. This involves an examination of the emotions, or feeling behind the rationale of starting your own plumbing business. Everyone will have their own reasons for wanting to start their business. It may be as a last resort as they are unable to find employment in the field, it may be that they hate having a boss, it may be that they want to become extraordinarily wealthy. Whatever the reason, it is essential that the owners of the business, if there are more than one, are aware of the strength of their emotions regarding the venture. This will determine the power of the motivation, the real forces behind the venture, and, with the aid of a skilled consultant, allow the prospective business owners to determine if their vessel will survive the storms on the ocean, or if there needs to be some additional emotional management included.

The second item speaks to the vision, or goal of the organisation. A prospective plumbing business may have as its goal to be a loss leader and therefore a tax write-off. It may be that achieving a win with the business would be familial survival, or putting children through school. Either way, all the owners need to be able, collaboratively, to understand what the goal is and to have a combined vision of the business that everyone can buy into. Without this shared vision, any subsequent planning and strategizing will ultimately be negated and sporadic, with everyone involved having different goals and aims, instead of pulling together in the right direction.

Keep Things Simple and Straightforward

It does not take any real skill to make things more complex. The real genius in any situation is to make things more simple. This line of thinking is propagated by all the top entrepreneurs such as Richard Branson, Bill Gates, and Elon Musk. Albert Einstein often used to say that if you couldn’t explain a thing to a six-year-old, you didn’t understand it yourself. In light of this strategic thinking, the next piece of advice is to keep all your plans and strategies simple and straightforward. Set a goal that everyone involved, all the stakeholders, can buy into. See where you currently are, and plan a way to get to that goal that all concerned can understand, appreciate, and take ownership of.

The final step in setting up a new plumbing business is to implement the strategy. Without a rigorous implementation strategy and plan, all the goal-setting and personal examination of business vision and motivation will just become a distant wish. Implementation plans fall into five basic categories; overall business strategy, financial planning, human resources and communications, sales and marketing, and project management. All businesses must be able to conduct planning with respect to these five regions of business expertise in order to be successful.

Implementing Your Plumbing Business Strategy

The first step in initiating the plan within all the five sectors that need examination is to complete a real, practical, and genuine business plan. Having gone through the initial strategic thinking process as outlined above, compiling an overall business plan should be relatively easy. Nevertheless, failing to spend sufficient time aligning a business plan to the strategy will mean that the business is also likely to fail, because one of the well-known factors in determining business success is that more than 80% of successful businesses have determined their overall strategy in detail, aligned the business plan, gone into each aspect of the business plan in detail, and repeat this strategic thinking process regularly amongst all the stakeholders.

Once the business plan has been compiled in detail, with all the necessary inputs being not only realistic but pragmatic as well, then the detailed considerations in each of the five business aspects can begin. This should dovetail with the business plan, but expand on the details simply stated in the plan to some extent. In the case of a plumbing business as we are considering here, some of the parameters in these five aspects of the business will be examined. Not in an attempt to intimidate any prospective plumbing entrepreneurs, but rather in an attempt to illustrate the importance of this strategic thinking process, and the reasons why it should be conducted in detail, and why utilising effective and experienced business consultants will not only increase the chances of success, but probably save substantial money in the medium to long term.

Five Business Areas to Conduct Planning

These five business areas, as related to a plumbing business, are strategy, financial, sales and marketing, human resources and communications, and projects. Overall strategy has been discussed in some detail, and following the above instructions will guarantee success in this regard.

The financial planning aspect when starting a plumbing business is of crucial importance. A detailed understanding of potential income, and expenditures related to the running of the business need to be examined. Whereas these are obviously tied in the overall strategy, the practical aspects of a plumbing business will need to be added by the stakeholders, using their experience and knowledge of the field. Office premises, the maintenance of stock and supplies, transport, and the ability to survive until the income exceeds the costs needs to be determined. All potential financial considerations, such as stakeholder input, the possibility of generating loans and financial support and receiving up-front payments all need to be planned in great detail.

Income of a plumbing business is directly related to the amount of work undertaken and the charges levied on this work. In an overall sense, the amount of income must exceed the costs of the business, and the aim of any sales and marketing plan is to ensure that this is, in fact, the case. With the advent of social media and the internet, the avenues available to market a business have increased exponentially. The starting point for any plumbing business, like any service related business, is to determine in as much detail as possible who exactly the people are that would be providing the business with revenue. These people, as a whole, are called the buying persona of the business. A plumbing business may, for instance, decide to stay small and provide after-hours services to family and friends, or it may target large corporate projects and tenders. Or anything in between. The better any prospective plumbing organisation understands exactly the behaviour, like, needs, wants, and aims of their prospective market the better they will fare. The example here is that a plumber who caters to the lower end of the economic market would use more print media and posters to advertise the business, while a plumber catering to an upper market segment may elect to use social media more since richer people have smartphones and will be reachable using digital platforms.

Human resources and communications requires detailed planning on its own too. Depending on the structure of the plumbing organisation, and their unique selling points, there may be a customer service department required, or a marketing department if this is the determining factor of achieving business. Planning and structuring the organisation accordingly will depend on the overall aims and vision, but will need to take the entire business plan into consideration.

Plumbing services generally will require on-site operations and the effective management of these operations as individual projects. Good project management is key to any service industry and the basic principles of project management is going to be essential. Once again, though, project management should not be seen as a complex and difficult issue, but rather a simplified and straightforward way of dealing, and communicating with all the stakeholders involved in every project.

The Required Starting Blocks of a Plumbing Business

These steps, as outlined above, if conducted thoroughly and efficiently, with the businesses core vision in mind and a positive collaborative mindset as a starting point, will ensure that the business has a better than 80% chance of success. However, as stated numerous times during this discussion piece, this is not a 5-minute exercise. This is a detailed strategic thinking process that will require honesty and commitment. There are certain things, therefore, that should be borne in mind before even embarking on the strategy process.

The first is an audit of the emotional intelligence of the stakeholders in the plumbing business. Like any service industry, plumbing involves hard work and much on-site work where things can easily go wrong. A high emotional intelligence score amongst the business owners is the best possible indicator of success. Emotional intelligence means being able to cope and manage the stresses and challenges involved, it means training your mind to find solutions in the midst of chaos happening all around you, and it means being able to be an effective leadership team who can steer a business through uncertain times. On the other hand, it does not mean someone who succumbs to the influences of anger or vindictiveness. Emotional intelligence can be learned and improved upon, so it certainly can be developed, but it is key that this quality be determined before initiating any business.

Secondly, there needs to be an understanding that knowledge is vital. The prognosis for a baker who wakes up one morning and sees a plumber friend making lots of money and then decides to start a plumbing business is unfortunately not very good. Plumbing, in order to be successful, needs to be done well. In a highly competitive business environment such as there is today all over the world, any business needs to actually be good at their job to be successful. It is for this reason that it is a prerequisite of starting a plumbing business that the stakeholders at the very least have access to high quality plumbing services. This includes knowing all aspects of the work, the market potential, and the survival rates of their competition. Without this core knowledge, no matter how good the strategizing process and the plans that come out of it, there is no chance of success.

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Income Inequality Fixes Offer False Logic – Socialism Is The Problem, Not the Solution

Many have noted that the top one percenters keep getting richer while the bottom 20% haven’t made any headway at all, or so very little it’s hard to calculate to prove. Okay, maybe that is correct, but the poor have not backtracked on their standard of living or quality of life. Today, nearly everyone has a cell phone, computer of some type, TV, refrigerator, etc. And we don’t have very many people starving to death in America with our food stamp program and easy access to anyone.
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cxifilmss cxlfrances cxocentres cxoinsights cyancurves cyanicideas cyanidians cyanigees cyanjaguars cyanquels cybatronicss cybirmondays cybmoneys cyclicflowss cyclideas cymservicioss cyndaluclaires cynthiadiazres cypruscapoeiras cyrgears cytzjkrs czechknivess czrxfys czzbths dabelinhas dabzwhns daccordplacards dachopshops dacpariss dacresottnstons dadascouts daddysavailables dadeusedcarss dadofferss dadpbears dadsandbabiess dadyhistorys daewoninsurances dagdelenlers dagrosadesigns dahagaons dahlaudios dahuleworldwides dahyoctobers daillyitems dailycattingss dailycropss dailyfanfires dailyfitgirls dailyfreecodess dailylifehelpers dailylogcarts dailyneededs dailynewsclubs dailyopeningss dailyrapfixs dailyscroungers dailyskinnewss dailyubers daisyemarcelos daisyvintages dajanitors dajuyos dakalantzs dalairlabsstudys daledofes dalelnas daleshoress daleylexs daleyllcs dalijudaicas dallascaramels dallasfitfanss dalscgs daltonandreillys damarclabss damebrkos dammiitmanns dammywealths damnbuzzmails damorydiaperss dampfernets danabets danadupuss danajweinkles danakayincs danalyaayakkabis danandlibbys danandys danangells danarellas danattics dancbatess danceewithyogas danceindcs dancelessonsnys dancepans danceswithbeanss dancevoorts dancewthyogas dancheckfires dancingruths danclaibornelaws dancolinss dandaneres dandbpetworlds danddhealths dandmillers danfercocinass dangervegass danielaeadilsons danielaeluiss danielandallys danielanddianas danielandjannas danielarocchis danielchngs danielejulianas danieleleticias danielemarcelas daniellaperssons danielletredges danielliearthurs danielrotharts danielsnadlans danielsuchans danieltuckwells danielwahlens daniemurilos daniepaulos danmarinkos dannyandsuzannes dannybueckers dannyholmans dannylegares danosounds danoswebdealss danrestrydoms dansankers dansbootnsaddles danschleefs danskbkns dansplanners dapedotexnikhs dappercatlabss dappropertiess dapurasias dapurfarios daralawabeens darcieyoungs daredeauxs dareelfms dareiasks daremotoss dareriskdreams darineuves daringbikiniss dariobogliardis dariopolmans darkcolleges darkdowntempos darkerbydesigns darkintherooms darkknightrecss darkmoosevpss darkpixelgamess darkshibes darksidedollarss darlingmilligans

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Getting the Best Mobile Mechanics in Orlando, Florida

If you are looking for the finest mobile mechanics in Orlando, Florida, the answer is only the stunning Mobile Auto Repair Mechanics. This company of automobile repairmen has been in the industry for over 25 years. With all those experiments, there is no wonder why this company is leading now in helping you to get your car problems fixed. The specialty of this company is the mobile service. It means that they will come to you fixing your car instead of you have to drag your car to the workshop of the company. Interested? Well, let us continue to talk about Mobile Auto Repair Mechanics, the best mobile mechanics in Orlando.

1. Why Choose Mobile Auto Repair Mechanics?

There are so many reasons why you should choose the company instead of the other. First of all, the experience of this company. Being in the industry of auto service for many years makes all of the staffs and owners understand the need of the customers really well. Second of all, the mechanics working in this company are all totally experienced and knowledgeable. There is no way that they cannot solve your problem. More importantly, they all have skill to get rid of your automotive problem professionally. Third, this company will get you the very best repair and maintenance service you can get all over Orlando. It is completed by affordable price and satisfying service as well. Fourth, we understand that you may be in emergency when your car is in trouble. That is why we offer the service of coming to the vehicle location at once. We do not care whether you are at home, at your office, or even at public places, we will come to you. Last but not least, the company is very friendly to the world of latest technologies. So, the equipment and tools used in the company is simply sophisticated. That is why you really need to call Mobile Auto Repair Mechanics if your car needs some help.

2. How to Contact Us?

To contact the company, it is very easy. All you need to do is making a phone call and then our customer services will be right with you by phone. Then, you can explain your situation and if you need our mechanics to come to you, you can confirm your location and wait. The mechanics from the company will be coming to you as soon as possible. The service is quick and satisfying. That is why Mobile Auto Repair Mechanics is the best mobile mechanics in Orlando.

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