Category Archives: Business Planning

Template Business Plan

There are lots of benefits that a business owner can reap out of acquiring free business plan template because it can be used to create an effective and well-crafted business plan. These free templates are available if you will choose the free business startup kit by Victor Holman. It can help you a lot of in this fast paced business world. If you are just starting with your business, it can help you to accomplish tasks efficiently without any problems. There are many things that must be done. Maybe you are thinking why it is given for free. The reason for it is because the person behind it wants to share his knowledge, expertise, and experienced in building a successful business. XXBR2 There are important things that one needs to keep in mind if they want to outgrow their business from small to big time. Small businesses think that they do not need help from business consulting companies because they are just testing out the water to see if it will work. However, it is better to start the business with good intention of making it successful by hiring the service of the best business consulting Washington DC. All businesses regardless of size are in need of basic promotions as well as marketing ideas. If you want to make a profit, then experience and expert business consulting services are designed to accomplish this task for you. It is better if you can find one that can handle all sorts of industry. XXBR2 Another great thing that consulting services can offer is mapping out of business plan. This is the best service that you can get from them as they can assists you in mapping out a huge plan for the future of your business. It is very rare for a business to find success without a strong, stable and long term business plan. This is one of the basic things that a business needs in order to prosper. A good businessman already knows where and how they want to proceed. However, there are any who needs assistance in this part because of lack of knowledge and experience. In this case business consulting Washington DC can help guide you from the start. XXBR2 Services from a good business consulting services can be rendered at any stage, but it is more effective if you will hire them at the beginning of your journey. This is for you and the business consulting company to work hand in hand in making the right decisions. With free business plan template from a reputable business consultant, then there is no need for you to alter business decisions in the future. When business plan has been established then their service does not need to stop there. You can invite them for brainstorming sessions and consultations in case you need to do a he business decision that can affect the stability of the company. With the help of a business consultant, then you can focus more on other important aspect of the business like product development. XXBR2


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Business Planning Services

Do you have plans for your business? Do they include forecasting for sales or closing current prospects? This article will provide you info about business planning and ask you a series of questions about forecasting. Whether you’re an executive, a manager or a team leader, the following info will be beneficial to you. XXBR2 Let’s assume that your forecast consists of sales into existing and new accounts, sales you hope you will make from beating the bushes for suspects and sales already in process to any extent or other. In this strategy, we will look at new business sales; later, we’ll come back to reality, checking sales that have already made it from your suspect to your prospect list. Let’s begin a four-question reality check of your new business forecast. XXBR2 Question 1: What Are Your Projected Sales? Look at the total figure you are projecting in sales from these yet-to-be customers. Now, consider what mix of products/services you project you’ll sell into each of these accounts, and for what margin. Be conservative – don’t project every new sale at the levels of the largest new sale you’ve ever made. Once you have worked this out, divide the value of your average new sale into your total target to get the number of new customers you’re going to need to come in to finish on forecast. XXBR1 Great – now you have a clear picture of your targets for new customers, product mix and revenue/margin figures. Hold those thoughts. Before asking Question 2, look at your sales cycle. XXBR2 For the purpose of this discussion, assume you get your business from quotations or proposals. These quotations/proposals come about as a result of one or a series of one-on-one meetings and/or presentations. Your one-on-ones are a result of initial appointments from lead-generation activity, and your primary source of lead generation is either cold or warm calls. If your deal cycle is different, then simply apply the thinking we’re going to explore to the milestones that characterize your typical sale. From Question 1 you know the number of new deals you need to close to hit the new business figure for this year. What are you doing about closing them? If you’re not investing in enough focused activity, then, regardless of how desirable or possible the result you’ve projected, you just will not hit your numbers. But how can you tell if you’re involved in enough of the right activity to assure your success? That’s the focus of Question 2. XXBR2 Question 2: What’s Your Proposal Hit Rate? Before you can determine the likely effectiveness of your activity plan, you need to do any research. Look into past experience of your typical sales cycle to fine-tune your forecast. The first thing you’ll need to estimate is how many proposals (based on your experience) you’ll have to produce to hit the number of deals you’ve forecast. If you don’t have useful previous performance figures, then estimate conservatively. Err on the side of more rather than fewer proposals. Let’s say you get a 1-in-3 hit rate with your proposals. Then, to close 10 deals, you’ll need requests for 30 proposals. XXBR2 Question 3: How Many Meetings to Get to Proposal? These proposals resulted from one or a series of meetings/presentations and selling activity. What does your previous performance tell you about the number of prospects you need to engage in one or a series of one-on-ones to get one prospect to the proposal stage? How many brand-new suspects do you have to meet before you find one that has an identifiable need for what you offer, the budget, wherewithal and willingness to get a proposal from you? Again, conservative realism is key. If 1 of 2 contacts you meet results in a request for proposal, then your target of 30 proposals demands that you meet at least 60 new people. XXBR2 Question 4: How Many Calls to Get a Meeting? We assumed that you won these meetings from targeted cold or warm calls to suspects identified from your research. How many calls will you need to make? Let’s say you have a 1-in-4 hit rate converting calls to appointments. To get 60 appointments, you’ll need to speak with 240 new prospects. Wrapping this up, let’s say it takes an average of four calls to get each of your target suspects on the telephone after you’ve mailed them. You have 960 calls to make this year! XXBR2 In our example, your modest target of 10 new deals demands that you XXBR1 – make 960 calls to speak with 240 new people! XXBR1 – to get meetings with 60! XXBR1 – to get to the proposal stage with 30 to close 10. XXBR2 When you work out your own forecast, it will uncover the reality of the work before you. If this were your forecast, assuming an even spread of activity over a 250-day business year, you’d need to make about 20 calls to new people per week; meet a new suspect very four days; dispatch a proposal about every eight business days; and close a deal every five weeks. These hard measures are the only objective means to determine the reality of your forecast. Given where you are right now, how are you doing? Are you hitting your call, meeting, proposal and close targets so far this year? Be honest – if you are not meeting those targets, then it’s back to the drawing board. XXBR2 An in-depth look at your forecast will sometimes tell you that you simply don’t have the time or resources to undertake the necessary activity. If the activity level required to hit your numbers is simply impossible, given other commitments like existing account selling, implementation, servicing or any other responsibilities you might have, then you cannot hit your forecast numbers without making changes. Do what needs to be done to hit the key milestones, and do it now! XXBR2 If it’s obvious you will not be able to hit your originally forecast numbers, do something about any mis-projection now. You will never have more of your yr left than you do today! The message is simple. Take a hard look at your forecast for new business, and reduce it using a set of SMART (Specific, Measurable, Achievable, Realistic, Timebound) activity/result milestones that allow you to determine whether you are on or off target. Make your forecast a living tool that ensures your luck by comparing your actual progress against each of these milestones on a daily, weekly, monthly and quarterly basis, and adjust your course if you start to slide off target. Success or failure in sales does not happen by accident. The future is entirely in your hands. XXBR2


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Laundry Business Plan

Spectrum Garment Finishing Equipments Pvt. Ltd. Since in the year 1985, is a manufacturer, exporter and supplier of Industrial Washing Machines, Pressing Machines, Laundry Machines, Hydro Extractors, Drying Tumblers, Dry Cleaning Machines, Washer Extractors, Flat Bed Press, Flat Work Ironer, Stain Removing Machines and Steam Finishing Machines, etc. With over 25 years of engineering expertise, one can be assured of getting the best equipment in the market that will meet the needs of today and the future. XXBR2 Our products include much more than just Washing, Dry Cleaning and Finishing Equipments. We deal into a quality range of Industrial Washing Machine, Pressing Machines, Dyeing Machines, Hydro Extractors, Tumble Dryer, Dry Cleaning Machines, Washer Extractors, Flat Bed Press, Flat Work Ironer, Stain Removing Machines and Steam Finishing Machines, etc. XXBR2 Today’s commercial washing machine can come in a complete range of sizes from 5 kg to 120 kg so they are small enough or large enough for most applications. The smaller units are ideal for small individualcustomers or product lines but surprisingly a customer can soon become large enough to use the larger units on the market. It is often worthwhile using a larger machine as they are able to deal with large items such as duvets and bedspreads where to weight and size of the item is such that it can be easily dealt with rather than being crammed unsuccessfully into a smaller machine where the quality of the wash is very poor. XXBR1 The larger machines are very quick in the production rates of the operation and can deliver the clothes in the right condition for the nextstage of the process. The advantage of this is that the operators can keep up with the production targets whilst the energy and labour costs are very low because of the speed of operation. One of the major items is the use of water and the deposit of waste water and detergents and soiled products into the waste system. The smaller this becomes the better as the restrictions can only become more intense in the future. These latest machines are excellent in the way that they have been built to reduce the amounts of water and detergents required. The waterless washing machine is not with us yet but there are several research operations where it is possible to remove the water usage to a trickle. Lifting large quantities is a problem but this can be resolved by the introduction of a tilting device. This can virtually empty the washer but is generally used as a help to assist the unloading process. XXBR1 Consider getting a good soap and detergent dispenser, the latest are very effective in injecting the correct amount of liquid soap or detergent into the wash. The whole programme of the wash and the fluid injection can be programmed into the washer by computer. There are usually some 80 plus programmes and these can be downloaded from computer. Because it can be expected that at times the washer is going to get soiled there are a number of sluice thermal disinfectant programmes that can be used to return the unit to full production. This enables the operators to carry out a very wide range of products without detrhyment to the equipment or the production cycles. XXBR1 Laundry 365 are experts in the Commercial Laundry Equipment andWashing Machines industry and a leading manufacturer with over 40 years experience. Laundry 365 are also experts in the field of soap injection systems. XXBR2 XXBR1


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Business Strategy Examples

Last week I shared that if you are an investor and do not think of yourself as a business owner, think again. I include investing as a business because I believe you should build a business around your wealth and treat your investing activities like a business. XXBR2 Many of the people I talk to are ready to stop earning their money and are ready to start building wealth to create passive income that they do not have to earn. XXBR2 Think about how much time you spend earning your money. XXBR2 Now, think about how much time you spend investing that earned money. XXBR2 This is a challenge some people face. Most people spend at least 40 hours per week – each and every week – earning their money and maybe an hour per mo on investing that earned money. XXBR2 This allocation of time won’t get them to their goal of passive income any time soon. XXBR2 How much time should be spent on a wealth strategy? A wealth strategy doesn’t have to be a full-time job if it is done properly. This is why I say you must build a business around your wealth. XXBR2 A business is one of the best forms of leverage. When wealth building is treated like a business, it is possible to notice results in just a few hours each week. XXBR2 What exactly does it mean to build a business around your wealth? In any business, leverage comes in many forms, all of which contribute to spending less time “in” the business and more time “on” the business. This is key in a wealth strategy – it’s what enables someone to be successful in their wealth strategy in just a few hours each week. XXBR2 Here are 3 forms of leverage commonly found in a business that I think every wealth strategy should have: XXBR2 Leverage #1: A clear written strategy It is common for a business to have a clear written strategy, but it’s not common for a person to have a clear written strategy for their investing. Without a clear written strategy, a business (or wealth strategy) often changes directions many times, and with each change, time and money is lost. XXBR2 A clear written strategy helps reduce the amount of time a person spends in their wealth strategy because there is a clear focus. The strategy can be shared with team members so they’re more efficient and focus only on those things that support the strategy. XXBR2 Leverage #2: Systems Systems are the greatest form of leverage in a business. The systems run the business. This enables the owner to spend his or her time managing the systems instead of managing the people. Managing systems is not only more efficient than managing people, it also takes less time and effort and produces greater profit. XXBR2 Systems should identify the who, what, where, why and how for operating a business. Systems can (and should) touch every aspect of a wealth strategy. XXBR2 For example, a wealth strategy should have systems for: XXBR2 – Identifying and selecting investments. XXBR2 – Funding the investments. If there is a loan process, there is a system for that. XXBR2 – Managing the investments. XXBR2 – Reporting for the investments. XXBR2 Creating the systems can take some time, but once they’re in place, it becomes very efficient to run a wealth strategy. The systems help reduce the amount of time required to manage a wealth strategy. The systems also provide better info so decisions can be made proactively and not reactively – this is also a huge time and money saver. XXBR2 Leverage #3: Team of advisors The 3 most expensive words in the English language are “do it yourself.” XXBR2 Having a team brings leverage and velocity to investing which leads to better and faster results. This is what businesses do. They build a team with their employees, vendors, customers, advisors, partners and so on. XXBR2 This same principle applies to a wealth strategy. The right wealth team can bring the greatest value to a wealth strategy. XXBR2 Using Business Leverage in Your Wealth Strategy The above are just 3 examples of how leverage commonly found in a business can be used in a wealth strategy. Start taking the steps today to work towards building a business around your wealth. XXBR2


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Sample Of Business Plan

If you’ve never written a business plan before, the idea alone can be overwhelming. XXBR2 It doesn’t have to be the nightmare of your imagination. XXBR2 Traditionally, a business plan is used to secure funding from a lender or a potential investment partner. It serves as something akin to your business’s resume, outlining the purpose and scope of your business, identifying the goals, marketing and management, and establishing a basic balance sheet. XXBR2 Now, even if you weren’t going to seek additional funding, even if you’re going to grow your business by yourself from your office at home, you’d be wise to put together a business plan. Simply going through the process has value. It’ll help you develop a clearly defined vision of what you intend to do with your business and how you intend to do it. XXBR2 These are some of the questions you should already have asked and answered before you sit down to write your business plan: XXBR2 == What “want” does your business fill, and what service or product will you be providing to fill that want? XXBR2 == Who will be your potential customer (this should be an established, niche market with die-hard buyers). XXBR2 == Why will people purchase from you as opposed to the business down the street (in other words … what’s your Unique Selling Position)? XXBR2 == How do you intend to reach your customers? A storefront? An ad in the phone book? Direct mail? An Internet campaign? Selling door-to-door? A combination of these? XXBR2 == Will you need additional funding and if so, how much will you need and how do you intend to secure it? XXBR2 Now, so let’s take a look at what you’ll need to include in your business plan. XXBR2 Most business plans are structured to examine four primary areas: XXBR2 1. Executive Summary – a decription of the business XXBR1 2. How you intend to market the business XXBR1 3. How the business finances will be arranged and handled XXBR1 4. How the business will be managed XXBR2 Let’s take a further look at these. XXBR2 Executive Summary: what the business will do, its Unique Selling Position, the business goals, its ownership and legal structure, your skills and knowledge and how they will benefit the business. XXBR2 Marketing The Business: describe your product or service, identify your market niche, how large it is, and how you plan to reach it. Define your customer, identify your competition, detail your pricing plan, outline how you intend to attract and convert customers. XXBR2 Financing The Business: estimate your start-up costs, project your monthly operating budget for the first year, outline your ROI (return on investment) and cash flow for the first year, project your income and expense balance sheet for the first two years, explain how you’re going to compensate yourself, establish who will maintain the accounting records and how they will be maintained, and if you’re in need of funding, explain how much you need and how it’ll be used by the business. XXBR2 Managing The Business: how will the business be managed day-to-day, what the hiring and personnel procedures will be, how the products or services will be developed and how they will get into the hands of your customers. You’ll also need to account for equipment the business will need, and how insurance, rental agreements, etc. will be handled. XXBR2 That’s it. In a nutshell. XXBR2 If you’d often see some free sample business plans to get a better idea of how they are structured and how they read, here’s a good source for you: http://www.allhottips.com XXBR2 XXBR2


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