business plan Archives

Jun102021 by Paul LinusNo Comments

Directions in business strategy to maximize business growth

Business

Business growth rarely happens by accident or by osmosis. A growing business is usually the consequence of a business strategy successfully deployed in order to achieve that specific outcome. The highest rates of business growth can be achieved by combining four separate strategic directions into a well designed, consolidated, and highly focused effort to: acquire more new customers/clients, sell more products/services to the existing customer/client base, improve profit margins by raising prices and/or reducing the costs of supplying the products/services, and increase the existing retention rates of current customers/clients. Acquiring More New Customers/Clients The most commonly used strategy to promote business growth is to adopt a business strategy directed ...

Mar242021 by Paul LinusNo Comments

Business owners need these succession plans

Business

For many business owners, family succession planning can be a daunting task. There are a number of variables and individuals to consider in the process. Advisors in different areas of expertise will need to be brought in. Also, what’s the timing for when the plan gets implemented? Again, there is a lot to consider and think about. Here are some valuable suggestions to consider for small business owners, the so-called small and medium enterprises. Not All Children are Entrepreneurial But before the process begins, owners must consider the idea that entrepreneurship does not necessarily pass from one generation to the next. It would be nice to have a child take over the business but that isn’t always the case. In fact according to the SBA, it occurs about thirty percent of the time...

Nov262020 by Paul LinusNo Comments

What to expect working at a start-up

Business

In this struggling economy where one may be forced to accept a position with any size business, understanding the differences inherent in working at a start-up, small, or large company sets expectations and diminishes frustration. Size does matter. Start-up Companies Working for a start-up company is sexy and exciting, filled with endless possibilities. The path is new and uncluttered with corporate politics and muddied company history. For the newcomer, it’s a blank page waiting to be filled. Because it is unchartered territory, it’s also pretty scary. There are many questions to consider prior to signing on with a newly formed or young company. Before taking the great leap, it would be wise to consider a few of the following topics. Risk tolerance Risk tolerance is genera...

Jul252020 by Paul LinusNo Comments

Financial wealth management and business planning

Business

Financial wealth management - When an entrepreneur decides to start a small business, the first step is to write effective financial wealth management and business plan. If the business owner wants to attract investors or needs a loan to get started, it is essential. The plan should be comprehensive and cover all aspects. This article looks at the different aspects as well as where the future entrepreneur can get help to write a successful business plan. Strategic Planning and the Business Plan The business plans or financial wealth management is a means of strategically planning for the strengths and weaknesses of the business. It’s important that the entrepreneur have a good understanding of the business. By strategically planning, financial wealth management and taking an unbi...

Sep282019 by Paul LinusNo Comments

How to get funding for a new business

Business

Many with a good business idea or concept believe that, if only they had the necessary funding, they could go into business and be successful. That's only partially true. The other part is that if they really want to go into a business, they should write their idea (develop a business plan) and approach some investors. Almost a business corollary to that is that they probably should develop their business, products and operate on a small scale (in their garage) to prove their concept while approaching investors. The real question is, who to approach? Commercial Banks, Venture Capitalists or Angel Investors Obviously, if one's business model goes beyond a very basic level, outside funding must be sought. Normally, the entrepreneur's personal resources will typically be invested im...

Sep172019 by Paul LinusNo Comments

Key measurements for your music business plan

Business

Music business plan - The actual things a music business plan needs to measure depends on the business itself, but as a general rule the measurements will fit into these categories; Cash – music business plans generally don’t go bust because they don’t make enough profit, they go under because they can’t pay their bills. Sales and marketing – music business plans can’t earn money without sales but it can be a long process involving prospecting, then managing leads through to sales before finally selling more to existing customers. Production – if you sell products then you will have to buy stock and sell enough finished product to make a profit. If you sell services, you need to make sure you provide enough to cover your costs. Here is a look at each of these in more detail. ...