...of the first steps to starting your own business is to develop a clear and concise business plan. Each person’s business plan is going to be different is some way; however, there are several key points which should be included in the business plan. I will discuss further the following six key points: an executive summary, company background information, market analysis, functional and organizational strategies and resources, management team, and time line and major milestones. The business plan I chose is the financial planning business plan. The first reason I chose this particular business plan is that my ultimate goal, after completing my bachelorette degree, is to open up a financial planning company to assist the less fortunate citizens. The second reason I chose this business plan is that is suitable for the company I plan to open. It lists some of the key points I mentioned in the paragraph above. The second step to starting a business is to put together a SWOT analysis. This is a system that focuses on recognizing the internal strengths and weaknesses of the proposed new venture. SWOT also focuses on evaluating external opportunities and threats that will promote or hinder the success of the new venture. (Jones, 2007). In order to recognize the internal strengths of my company, I have to first begin with developing a management team of strong leaders that have the skills and experience in the field of finance. If my management team is inept as a strong leader...
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...Introduction A business plan is the focal point to the successes of any business as it fully outlines business’s strategies and practices in the operation management. It is responsible for conducting of operations, striking market position, compete, attracting customers and achieving the objectives of the business. The strategy in which the business implements and executes the business plan is the determining factor in the success of the business. Implementing and executing a business plan are thus the most important core management roles. Certainly, a competent business strategy and a first-class strategy implementation are the key to good business management. This article attempts to analyze how I intend to implement, evaluate, and control (IEC) all of the marketing activities that are described throughout my marketing plan. The implementation process The process of implementation kick starts by evaluation of the internal control of a company to give the auditors the basis of a good planning and providing important information to the management of the company. In order to achieve excellent implementation of my business strategy, I intend to have the best managerial excellence. This will result to a more reliable recipe that can turn my business to a stand-out performer is the market. For a business to grow and remain competitive, it ought to not only have a good business strategy, but also a proficient implementation strategy. I intend to use my strategic plan and the strategic...
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...Forces Internal and External Forces I have always wanted to own a bridal shop. A strong strategic plan and attainable goals can make my business a strong decision. Jennifer’s One Stop Bridal Shop is a business that will help bride’s and groom’s dreams come true. Jennifer’s One Stop Bridal Shop would work hard to provide any requests that may come up to create the perfect wedding experience. Jennifer’s One Stop Bridal Shop will be the leader in wedding dream making. Jennifer’s One Stop Bridal Shop is no ordinary bridal shop. The shop can do anything from the invitations to the cake to the dress and anything in between. It is my hope to make every wedding that comes through the door a unique and memorable experience. Jennifer’s One Stop Bridal Shop would offer to plan and create the wedding or can be separated into what the customer needs. If the customer is only looking for a cake, the shop will make sure it is the best cake they have ever seen. Jennifer’s One Stop Bridal Shop will be in many different markets with many different customers. Different markets mean different economic factors that need to be considered. Each market has different competitors and the economy will have different effects on the markets. The economy trend could have a great effect on one market and a negative effect on another; it just depends on what part is affected. My shop will also have to watch legal and regulatory trend and forces. Legal and regulatory forces change constantly...
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...INTERCONTINENTAL UNIVERSITY PRESENTING BUSINESS PLANS MGMT422 – 1202A - 02 ADVANCED ENTREPRENEURSHIP 04/22/12 Table of Contents I. Table of Contents……………………………………………………………….2 II. Executive Summary……………………………………………………………..3 III. Introduction …………………………………………………………………….4 IV. Business Description…………………………………………………………….5 V. Description of Proposed Product………………………………………………..6 VI. Definition of the Market…………………………………………………………7 VII. Organization and management descriptions………………………………….8 VIII. Marketing Strategies………………………………………………………….11 IX. Financial Management……………………………………………………………12 X. Appendixes…………………………………………………………………….12 XI. Plan Updating Check List………………………………………………………15 Executive Summary Find Your Gadget, Inc. is the name of the new S corporation I started to introduce my invention product “Ring – in Finder” to market. The industry is huge and the market is big and after researching the market, I found that there is a big demand for this type of product. Being difficult to fund the start – up my business; my best choice is to look for venture capitalists to adopt the idea and support my business financially and help me with the best management strategies advice to reach my goals and succeed with my venture. Convincing venture capitalists requires a solid business plan to be presented with an educated request for...
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...Having a business is a big responsibility and knowing the type of product or service that you are offering is crucial in the success of the company. In this paper there will be discussion related to the new business that I am about to open and the journey I go through by successfully coming up with a plan to help me create my business and remain successful throughout the life of the business. Having the proper planning is going to be one of the keys to success. Knowing and understanding the values of the business is also important and will enable me to be more efficient in the opening of my business. The business that I am planning to open is a bakery. I want to open a bakery that offers a variety of different products for my customer base. I have created a vision for this bakery and it is to guarantee fresh value products to my customer any time of day. Being able to serve a fresh quality product to your customers is important in maintaining a good relationship with the customer. It is great to have a vision in mind and within that vision it is important that it is always carried out. Understanding the vision of the company will help me create a mission statement for my customers to see and understand. I plan to offer all types of different bakery items. I want to be able to give the customer a quality product that they can’t resist. By offering different products such as cakes, cookies, pies and other delicious desserts I will be able to gain the business of the customer...
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...MARKETING PLAN The marketing plan is a tool used to develop and present a company’s marketing strategy. At minimum, the plan should contain descriptive information on the company, its products or services, target customer, marketing research, advertisement, promotions, and a list of actions items that is supported with a strategy plan for execution. Directions: Create a fictional start-up company that serves the U.S. market with a product or service. COMPANY OVERVIEW Owner(s): Company Name: Love All Product Name: Love All Location: Memphis, TN History (yrs.): October 2014-Grand Opening SECTION 1: EXECUTIVE SUMMARY Provide a detailed description of your company. The description should include, at a minimum, the company’s name, its history, founders, business purpose, and mission. This could be written using multiple sentences, but no longer than a single paragraph. The name of my company is called Love All. My company is a loving company and it is catered toward helping homeless people as well as other people that are in need. My company was founded by myself in October 2014 and it was created to give homeless people a place to stay, food to eat, clothes to wear, and a fair chance to get back up on their feet. The purpose of my company is to show the homeless people that are alone and living in the streets that someone do care and are willing to help in any way that is needed to help them live and be happy. The missions of my company is to treat all people equal...
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...Final Project: Marketing Plan University of Phoenix MKT 230 Jose A Torres Sunday, August 19, 2012 In my marketing plan, I will combine a few different services but concentrate on two to three services but the concept of the company being promoted is a different kind of customer Service Company. The company would offer photo/video services, paralegal services for attorneys, notarizing signing agents, consumer bankruptcy petition preparation, and a joint venture with bankruptcy attorney Sean Fleming to provide a complete debt elimination credit-rebuilding program. That is why I am calling the company "The Torres Networking Group" or TNG, LLC because it will be more of a consulting company with these services. This is a real world example; it is a company that I am launching, and by the beginning of 2013 when I receive my small business, funding the company should have a fully functional interactive website and a retail location in Elgin, Illinois (Welcome to the Illinois Hispanic Chamber of Commerce, 2011). My marketing plan is not just a project and an exercise it is a personal dream of mine that I have wanted to realize since 2006. Based on the research I have performed and the analysis I have decided to provide these services in the first marketplace such as Kane County in Elgin, Illinois. This would be a retail location with a photo and video studio included for consumers. At this location, we would offer services...
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...Business Structure Advice Leroy Washington FIN 571 February 22, 2016 University of Phoenix Instructor – Hillman Lo The purpose of this paper is to provide prospective business owner, John Owner, with as much information as possible in his quest to start a new business. This paper is being written in response to Mr. John Owner’s email as shown below: Dear Consultant, I am currently starting a business and developing my business plan. I am in need of some advice on how to start forming my business. I am uncertain exactly how it will be financed and whether or not I want to take on partners. I am interested and willing to learn the intricacies of my options to determine how to best proceed with my plan. Please advise me regarding what my options are, the advantages and disadvantages of each option, and possible tax consequences for each scenario? Respectfully, John Owner Elements of a Business Plan 1. Executive Summary. The Executive Summary provides a succinct synopsis of the business plan, and highlights the key points raised within. The Executive Summary must communicate to the prospective investor the size and scope of the market opportunity, the venture's business and profitability model, and how the resources/skills/strategic positioning of the Company's management team make it uniquely qualified to execute the plan. The Executive Summary must be compelling, easy-to-read, and no longer than 2-4 pages. 2. Company Analysis. This section provides...
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...University AB209: Small Business Management Professor Freeman 15 Jan 2013 Project Deliverables Checklist: (All units) Place a checkmark here as a reminder that you have completed this particular section of your descriptive business plan! _X_ Unit 1 (None) _X_ Unit 2 (Business Description, Vision Statement, Mission, and Motivation Statements) _X_ Unit 3 (Description of Products or Services) _X_ Unit 4 (Marketing Plan) _X_ Unit 5 (None) _X_ Unit 6 (Operational Plan) _X_ Unit 7 (Management and Organizational Plan) _X_ Unit 8 (Financial Plan) (Descriptive) _X_ Unit 9 (Executive Summary) _X _ Unit 10 (None) Business Description (Unit 2) (This section of the plan should include what the business will do, what products or services it will produce or deliver to the customer. This should be specific.) Andy’s Electrical will be an electrical company that provides electrical repairs and electrical installations to residential neighborhoods and businesses in the community. We will provide installation of above ground electrical wiring and equipment. We will not provide trenching services for in-ground electrical. We will also not offer distribution services such as electrical pole installation, or transformer installation. We can provide electrical work for new construction for most homes and businesses smaller than 10,000 sq. ft. We will not provide services for industrial customers. Vision Statement (Unit 2) (This section of the plan should be a statement of...
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...Strategic Plan Belle Villarreal STR 581 February 4, 2013 Amy Ruiz Table of Contents Title Page Cover Page………………………………………………………………………………………...1 Executive Summary……………………………………………………………………………….3 Company Background…………………………………………………………………………….5 Vision, Mission, and Value Statement ……………..…………………………………………….5 Sources used for External and Internal Analysis………………………………………………….6 Strategic Plan……………………………………………………………………………………...7 Implementation Plan………………………………………………………………………………8 Strategic Choice and Evaluation…………………………………………………………………10 Evaluating Alternatives…………………………………………………………………………..11 Values of Strategy………………………………………………………………………………..12 The Right Strategy……………………………………………………………………………….13 External Environmental Factor…………………………………………………………………..14 SWOT……………………………………………………………………………………………15 Competitive Position and Possibility…………………………………………………………….16 Action Items……………………………………………………………………………………...17 Resources Allocation…………………………………………………………………………….19 Successful Implementation………………………………………………………………………19 Conclusion……………………………………………………………………………………….20 References………………………………………………………………………………………..22 Executive Summary The document you are about to read is a research paper and plan on how to open or start your own business. Within the next couple of years I plan to open a sleep study lab. My sister currents owns and operates her in a different city. My goal is to mirror hers and open a second branch in the city I live. Her sleep lab...
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...WIDGET CORPORATION James Jones January 7, 2015 |SECTION 1: THE BUSINESS PROFILE | |DESCRIPTION OF MY BUSINESS | | | |I plan to market a complete line of bathroom accessories including squeegees, soap dishes, toothbrush holders, coat hooks, and towel| |bars. The product line will be designed in my home office and manufactured and packaged in China. | |Targeted Market and Customers | | | |My customers will be discount department store chains with good credit ratings and reputations for prompt-payment. These will | |include Albertson’s, Costco, Wal-Mart, K-Mart, Target, and selected others. | |Growth Trends In This Business | | ...
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...ASSESSMENT GROWTH PLAN | ORGANIZATIONAL BEHAVIOR (BUS 5450) | ABIOYE TOLULOPE | PERSONAL ASSSESSMENT AND GROWTH PLAN A convenient starting point for a discourse of this nature would, expectedly, be to provide a brief sketch of my background. My formative years of knowledge- acquisition were spent at various educational institutions in Nigeria. Specifically, between the year 2004 and 2008, I was at the University of Ibadan, Oyo State for degree program leading to the award of Bachelor of Science in Geography. My inquisitive and adventure loving nature steered me easily to the sciences. I chose to study Geography because the earth in itself provides an immeasurable source of instantaneously occurring mysteries. I then went ahead to start my career in sales at a reputable Telecommunications company in Nigeria. After four years mastering the art of sales I decided a career change or at the least career advancement was needed to succeed in this competitive world, hence my decision to pursue a Masters in Business Administration to hone my analytical skills. There are various principles that shape my vision, goals, path and my life’s journey. Amongst the factors that drive me is a passion for excellence, excellence in everything I set out to do however minute the task is. The need to be a pacesetter, a trail blazer, someone that questions the status quo is inherently ingrained in me. Also, having an acute dislike for mediocrity is another factor that has an impact on my outlook to...
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...to create a mission statement for a business small or large, it is important to have a mission statement because creating a vision will guide a company’s future. In doing so a mission statement will provide the vision, mission, and values for the organization’s that will help determine the strategic direction. A well define mission statement will not only help guide a company to success but also define the owner, employees and also set you apart from your competitors. Before creating a mission statement is important to have a vision statement that will convey what the intent for the future of the company and clarify the organizations beliefs and principles. My vision for my independent trucking business would be “To be the most requested independent driver in central Texas by providing first class transportation solutions.” My long range goal is to broker my own deals with the shippers, drive the goods myself and own my own truck. With the vision statement clarifying my trucking company’s goal and where I want to be in the future; the next step is to make a mission statement to capture the reason to be in business and what will help in making company decisions. Central Texas Trucking Company (CTTC) is dedicated to the principal and philosophy of being the best domestic transportation throughout Texas. As an independent trucker, I will provide transportation solutions with the highest commitment to excellence and integrity. In any business, a vision, mission, and values will...
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...Student Professor: Business 402- Small Business Management February 1, 2014 The small business that I chose to compete with is a barber shop that I frequently visit. This barber shop is located in the small town of Charles Town, WV. This Business is called Sharp Cutz Barber Shop. Sharp Cutz is surrounded by several different types of businesses such as schools, grocery, and retail stores. Sharp Cutz was owned by a different barber previously, but the owner moved to a different part of the State to resume his business. Sharp Cutz is owned and operated by a single individual and offers competitive prices when compared to similar businesses in the area. Business at Sharp Cutz is good. The Business is making a profit of 2,000 dollars a month on average after expenses. I feel that the business could generate at least double of what it is currently making if the owner incorporated advertising and other marketing strategies to promote his business. Sharp Cutz gets most of its business through word of mouth, which is great for the business. Sharp Cutz serves all cultural groups and provides quality services such as haircuts, shape ups, beard trims, mustache trims, and razor shaving. Also the company is advertising for a hair stylist to serve women of all ethnic groups to expand its business. From my point of view; from being a long term customer, these are some of the issues and dissatisfactions that I have had with the business throughout the years: Inconsistency...
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...Brown | 2/12/2015 | | My company consists of a chain of high end daycare centers that offers various amenities. My clients have the luxury of the highest educated teachers from around the United States teaching their children everything from playing musical instruments to several different languages including sign language. I plan to have these daycares strategically placed in areas where there are little to no child care facilities available. This is to ensure that my business is almost an only option and once the customers see the quality of care provided, they will be highly satisfied. I chose not to franchise my company because I want to be the sole proprietor. I want to be responsible for the type of care being given to each child who enrolls in my facilities and I plan to be very hands on with each building I open. Employees within my organization should have behaviors that exemplify love and education. The main focus point is to teach children and have them in an environment that will feel safe and that they can grow in. I expect all of my employees to be honest and sincere in their dealings with the children and parents that we service. The structure of my company begins with me who at this moment have over 11 years of experience in the field of childcare. I will be sure that any employee who has direct contact with the children exemplifies a certain degree of patience, professionalism, and have prior experience in childcare. My facilities will be kid friendly...
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