March 30th, 2010 by admin
There are four critical areas causing business plans to change. All are changing trends in the business environment. The four areas we will examine are: 1) government trends, 2) economic trends. 3) technological trends and 4) cultural trends. Each one causes a specific impact on our decisions and requires us to make adjustments. Some changes are dramatic and require dramatic reactions to minimize their effect on our business.First are government trends. There are several different sources caused by changes in regulations, tax policies and new legal precedence. Most of these are not a direct result of what we are doing in our business, but are the result of political and social shifts. On the legal side, changes result from court cases. It is absolutely necessary to address these changes because of both the financial and legal jeopardy. The result will be changes to not only our business plans but also our business conduct.Second are economic trends. These changes occur because the local, national and international environment changes. Typical of these trends are changes in inflation rates, interest rates and the comparative value of currency (foreign exchange rates). Notice that all of these changes are directly and indirectly effects of government ...
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March 26th, 2010 by admin
How ever you count them up, the basic parts of a business plan are pretty similar from plan to plan.?Here they are.1. COVERIs the cover of the business plan really part of it?? Good grief, guys.Yes, it is.? Just as the cover of any magazine is part of it.? Or the cover of any annual report.? It is absolutely true that the same chocolate eclair can be inside a plain box, but I will pick the box that says "Scrumptious, made just for you, utterly delicious French chocolate eclair."2. EXECUTIVE SUMMARYThis is the one page masterpiece that tugs at the reader's interest.? Include important contact information, as well as the nature of the loan/investment.3. TABLE OF CONTENTSMost people would not consider this a real part of a business plan, but it is.?Without it, the plan looks very amateurish.?4.?INFORMATION ON THE COMPANY ITSELFThere is a bunch of factual information that needs to be included, such as When was it formed?? What kind of company is it?? If it is a corporation, how many shares are issued?? To whom?? If it is a partnership, who is involved? Who formed the company?? If you are not the founder, ...
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March 22nd, 2010 by admin
Most people avoid negotiation entirely. 70% in fact. That's a problem because negotiations are a great way to move relationships forward. Unfortunately with so much reluctance and avoidance, it's a safe bet that many deals stall because we just don't want to negotiate. And that is due to a fear of losing. There is a better way.We start with clear objectives. Negotiations should always include these two objectives: 1) Gain the best deal for our side; 2) Achieve "Both Grow" status in which the relationship elevates for both sides.The first objective is driven off the financial realities of business, and our need to protect the bottom line. The second speaks to a basic principle in business: The Relationship Must Outlive the Negotiation. Let's take it one step further and use the negotiation to elevate and improve the relationship.But wait a minute; are we serving two conflicting masters here? How can we boost our deal and the relationship at the same time? We do that with commitment and a good process. If you negotiate with a "win at all costs" attitude, you'll be replacing customers, suppliers and employees regularly. Which is costly and just flat wrong.In her bestselling book entitled Fierce ...
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