business plan
Published November 28th, 2008
Q: How does a small business get big? We have been at the same level for years now and can’t seem to breakthrough.
Jess
A: Your question reminds me of a quote I recently saw by J. Paul Getty, once the world’s richest man: “My formula for success is rise early, work late, and strike oil. ”
No, you are not going to strike literal oil; those days are over. But figurative oil, why not? Think about Google founders Larry Page and Sergey Brin? Do you think they feel as if they struck oil? You bet. Richard Branson took The... Read more
Tags: big business, business plan, Growing Your Business, small business, Steve Strauss, what works
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Starting a small business can be confusing, in terms of deciding what "type" of business yours will legally be defined as. There are five main types of business organizational structures: sole proprietorship, general partnership, limited partnership, corporation and limited liability company (or LLC). Each is set up and operated differently, and each is looked at differently in terms of taxes and legal protection. Knowing which one is right for you and your business is crucial, and can save you from future legal and tax headaches.
The five main types of business structures
Sole Proprietorship - This type of business is... Read more
Tags: business plan, business structure, Carrie Hinkel, planning, Starting a Business, startups
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Published April 25th, 2008
If you’ve been dreaming about starting your own business, but just can’t take yourself away from the security and steady paycheck of your current job, don’t fret. Many successful business owners started their company with just a few spare hours in the evenings and on weekends - and you can too! Here are some tips for getting your business idea out of your head and in front of customers.
Make an “after hours” schedule - Getting serious about your new business means making certain time commitments in order to get it off the ground. Whether it’s getting up a couple... Read more
Tags: advice, business plan, Carrie Hinkel, changing careers, entrepreneur, Starting a Business, strategy, tips
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Published February 1st, 2008
The difference between a good and bad business plan could mean getting a loan and not getting a loan, or a successful expansion and an early closing. A business plan is a powerful tool and the opportunity to create one that is detailed and guiding shouldn’t be wasted.
But what makes a business plan good? Well, it’s not measured by the number of pages or creative graphics used. A good business plan is informative, factual and detailed - able to accurately forecast sales, growth, and expenses. A good business plan should leave readers - whether a banker, venture capitalist, private... Read more
Tags: business plan, Carrie Hinkel, planning, Starting a Business, startups, strategy, writing a business plan
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Published January 29th, 2008
Whether your business is a start-up or a quickly-expanding enterprise, creating a business plan is a great way to see exactly where your business is, where you’d like it to go or how you can get it off the ground. Whether the purpose is to obtain funding, organize growth patterns or to test the feasibility of a venture, a business plan is the best way to put your ideas down on paper with the factual numbers to back them up. However, there is no one-size-fits-all business plan. Different purposes require different information and formats - and therefore a different type... Read more
Tags: advice, business plan, Carrie Hinkel, external business plan, internal business plan, planning, Starting a Business, startups, strategy, tips
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Published January 24th, 2008
What sold investors on a company a few years ago isn’t cutting it in the new economy. The business plan model is changing in many ways; and is, most importantly, getting back to basics. The bare-bones, real-life basics.
What is the business and how much money do you need?
But even the prototypical KISS-modeled business plan has some new fundamentals. For those of us who have been doing this for a while, it’s been a shock to the system. For anyone else who is just getting started as a small business owner: hang on tight, it’s going to be a... Read more
Tags: advice, business plan, Faith Harper, Starting a Business, tips
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Published January 17th, 2008
The presidential election will impact your small business. The question is not if, but when and how. You have control over much of the impact, depending on how you choose to vote. Your business can wait for election events and be reactive, or you can get out front and be proactive.
You see many businesses choosing to use the election and other current events as inspiration for marketing campaigns that capitalize on the public awareness of the political events. How could you do this for your small business?
* Create voting buttons for new products to be carried on your... Read more
Tags: business plan, elections, Growing Your Business, larry Slusser, politics, presidental election, recession, recession-proofing, small business, updating your business plan
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Published January 16th, 2008
Creating a business plan is absolutely essential for any entrepreneur who is thinking of starting a new business. The best thing about a business plan is that it forces you to create a detailed analysis of your business. In doing so, you might find out that you need a bigger start-up loan than originally anticipated, or that your proposed retail price gives you too small of a profit margin, etc.
A business plan can also help convince banks, businesses or individuals to invest in your idea or to give you a loan. So, it’s important that your business plan is... Read more
Tags: advice, business plan, Carrie Hinkel, planning, Starting a Business, startups, strategy, tips
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Published January 3rd, 2008
There are many exciting international possibilities for your business. Say for example you own a vintage clothing store. Did you know there is a decent sized market around the world for vintage US clothing, from the early 30s and 40s to today’s current designs? You could be hitting garage sales and flea markets and exporting the bargains you find to the Far East for a tidy profit.
While most of us have experience in our lives as consumers of businesses in America, few of us have experience as consumers internationally. This lack of experience can make entering a foreign market... Read more
Tags: business plan, Doing Business Internationally, exporting, international, joint ventures, larry Slusser
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Published December 13th, 2007
For many people, the dream of starting their own business and being their own boss can often remain that - just a pipedream. However, for many more, it becomes a reality and one they can have great success in. This success doesn’t just happen, though - it takes a mixture of preparation, luck and hard work to make it all pay off.
If you’re thinking of starting your own business, whether it’s a small one-person outfit working from home or something slightly larger, you can give yourself a great head start. Take the time to ask yourself some questions about... Read more
Tags: advice, business plan, danny brown, Starting a Business, startups, tips
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