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Eight No Cost Ways to Market Your Business
Are you trying to promote your business with a tiny marketing budget? Opportunities are plentiful for low or no cost marketing. Here are a few that won't cost you a cent.
1. Publish articles about your specialty. "How-to" articles are always...
Home Business Legalities And Tax Advantages
Even if you work out of your home, most cities and/or counties require you to have a business license and/or permit. Check with your local government municipalities to find out what the requirements are for where you live. Depending on where you...
How to Join the 5% of Internet Business Real Money Making Pro's Regardless of the Products You Sell
On the Internet business world today, you've probably heard that only an estimated 5% of netpreneurs, webmasters, or affiliates, are making any real money. If you’re not one of them, then read on and learn how you can make it too.
So, who are...
How Your Business Can Pick A Software Developer
Eventually, your business is going to need to have some software development. Your business is unique - you can't rely on a huge, faceless corporation to handle your unique needs with a shrinkwrapped, mass produced, production-line solution. You...
Online Business Start-Ups: The Agony & The Ecstasy
Any business start-up can be difficult but the online business start-up is more so. Both business owners have the same problems of financing, product selection and marketing. However, the “brick and mortar” business owner has one major advantage...
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Seven Preparations for Writing a Business Plan
Writing a business plan is a daunting task. If you do not know that by now, you will discover that soon after you have read your first set of instructions for writing a plan. While each of these preparations will require much of your time and efforts, they will help to make the writing of your business plan easier.
Writing your own plan is best because you probably have superior knowledge of your product, your target market and your own capabilities. Eventually, when you are required to defend your plan, you will be better informed of its contents and its rationale. If you engage someone else to write your business plan, you will still have to supply much of the following information anyway.
1. Enter an outline in your wordprocessor. You can copy excerpts from books, online searches or pamphlets from government agencies. Finding appropriate content for your venture could take quite a bit of time. It's a good start for overcoming inertia, it provides places to record information as it is gathered and your outline can become your planning and control file.
2. Begin collecting contact details for all your references: data sources, business plan writing instructions, resource persons, online sites, libraries, bookstores, etc. The more -- the better. Exercise caution if you think your idea is hot for a local and limited market. Reveal your concept and your research only to a trusted few. Someone with similar attributes and skills with access to more money could beat you to an exclusive market share. In my business classes there was always, at least, one student accepting my offer to submit the weekly submissions in a plain kraft envelope.
3. Establish formats and content for appendices such as floor plans, schedules and product details that could be time consuming to gather into an appropriate presentation.
4. Gather industry data. Lenders and investors have access to
Embryonic-Stem-Cell Funding Stays Bottled Up
A federal judge ruled the government is wrong about a "parade of horribles" that a stay on funding of researcher involving human embryonic stem cells would have on the field. He refused to lift a preliminary injunction imposed last month.
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Much of the scientific effort that has followed the oil spill in the Gulf of Mexico has focused on how much oil escaped and where it's gone. But many biologists say they're puzzled by the lack of an organized research effort to measure the damage.
financial ratios. Ratios are difficult or costly to obtain for some types of businesses. Sample financial statements are more easily found. So, find several that have revenues and expenditures similar to your venture and calculate averages for your own ratios. Gathering extensive marketing information on your potential competitors and for your target market requires a lot of preparatory work. Your readers will expect your data to be cross-referenced and full explanations for any abnormal ranges. If your research requires you to have Standard Industrial Codes (SIC) get them at http://www.osha.gov/pls/imis/sicsearch.html or http://www.census.gov/epcd/www/naics.html.
5. Perform "what-if" experiments on spreadsheets to find the best presentations of tables and charts for cashflow projections, break-even estimates, product life cycle, market segmentation, implementation schedules, training programs and all the other ingredients ensuring the success of your venture. Accuracy and readability improve with each reiteration or rewrite.
6. Begin your networking by joining and attending appropriate associations and trade fairs. Ask about or just listen to the many problems being shared. Arrange meetings with as many people you know who are familiar with businesses similar to your venture.
7. Meet with a lender or investor for advice. Try to determine their expectations for your venture and for the content of your plan. Ask for any booklets and their networking suggestions. Do the same with experienced borrowers.
You will appreciate the benefits from your due diligence on these preparations. May the writing of your business plan be less daunting. I wish I could tell you it will be a "piece of cake."
About the Author
Gerry added practical wisdom to his college and univeristy courses by owning and operating small businesses. That wisdom is now online at
http://www.UncleMaxSays.com
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