The first thing you need to understand about business plan software is that it will never be able to do all the work, Business plan software essentially takes care of the presentation aspects of your business plan. Software like this can’t supply the details of your objectives, skills and past experience which you need to sell yourself, so don’t think of business plan software as a complete solution – think of it as a skilled assistant helping you to help yourself.

One of the most useful aspects of business plan software, especially if you’re new to self-employment, is its ability to help you manage your finances. Good business plan software should present you with a full set of the financial documents which potential funders will want to see.  Be sure to find software that allows you to print nice reports.  Even if you only have your inkjet printer you can make some great looking reports.  You can save on the ink for your printer by using a 4inkjets coupon code as well.  Financial matters are often where an otherwise good business plan falls down, so it’s very much worth your while to use business plan software to make sure you get this right.

Style, presentation and clear use of language are all essential to producing a professional looking business plan. Software designed to help with this can cut down on your worries as you concentrate on providing high quality content. Whilst you focus on developing strong descriptions of your proposed products and services, you can leave it to your business plan software to show you how to format them and create a final document which will impress all the right people.

Building a business plan is always a difficult undertaking, especially when you know that the whole future of your business venture depends on it. But with good business plan software, you don’t need to be a professional to do a professional job.

Setting up Your Business

* Register business name and company: Depending on the country you’re in, it’s generally essential to register your newly formed business name and company. This is particularly important to ensure your business name doesn’t already exist.

* Register your domain name: Whether your new business is a retail shop or offer business services, a website is key to acquiring new clients/customers online. Whilst developing a website can take at least 3 weeks, you can register a relevant domain name as quickly as possible. The key for an effective domain name is to keep it short and relevant.

* Register for taxation purposes

* Business identity: Logo, business cards, letterhead/fax/invoice templates – Personally, I believe it’s extremely essential to get this right from the start. Your company/business logo should be unique, easy to recognize and relevant. It’s the single important element that your clients and future clients will recognize your business. Outsource a freelance graphic designer to design a custom logo for your business (a freelance graphic designer is much quicker and cheaper than using a graphic design agency). Once you’re happy with the logo, get your graphic designer to design matching business cards, letterhead/fax/invoice templates, and a website. Consistency with all these elements is key. Some freelance graphic designers actually offer “Business Start up Kits”. With these design packages offered for new businesses, this will be a cost effective way to develop your business identity.

* Register your trademark (i.e. company logo): Once your graphic designer has fianlised your new company logo, trademark it! With your logo trademarked, future competitors are not permitted to copy your business name/logo.

* Develop a website:. With the use of internet (and in particular, Google) continuing to be the fastest growing channel used by consumers and businesses, any new business should develop a website that showcases their products/services, with an aim to acquire new clients/customers online.   Save money by using coupons for software you will need.  Using an adobe promotion code can save you a lot of money on Adobe products like photoshop.  Your website design should also be consistent with your branding, so try and use the same graphic designer to design your website for you.

* Open a business bank account: Having a separate bank account for your business transactions can ensure you can manage your business cash flow effectively as well as making it easier for taxation and accounting purposes.

* Location of Office/Store/Warehouse: If your new business is a retail store, it’s essential to locate the best location that has a good balance of foot traffic but at an affordable rent. For a service business, you can start off with working virtually from home to save costs related to office space, or share a business office with another new business (so you can leverage their utilities, such as internet, phone, and even reception/secretary).

Business Identity

Your business identity is critical to business success and also essential to get this right as soon as you start your business.

* Unique logo for your business: Get a custom designed logo! It may cost a little more than a template logo, but the idea of a company logo should be unique and differentiate yourself from your competitors, so invest the time and cost upfront to have a unique logo designed.

* Business Cards: This can be the smallest – but most powerful – marketing tool to use. Ensure your business cards are consistent with your company’s brand, and also try and include the products and/or services you offer (rather than just your company name and contact details). Having a unique design will also increase the chances of the potential client/s to keep your business card, so make sure you tell your graphic designer this!

* Letterhead, Fax, and Invoice Templates: Keep it simple but consistent.

* Website: As discussed above, this is essential in today’s technologically savvy market.

* Corporate Profile / Brochure: to showcase your company’s experience, products or services, and unique selling point. Ensure your brochure design is on brand with the rest of your brand identity

About the Author:
Grace Chau is the Owner and Head Graphic Designer at Attractivo Design

Succession planning is a critical factor for the long-term success of any business. Leadership transitions in business affect the entire organization’s continuity, employee retention, client retention and returns on investment. It is essential to create and implement a process that creates visibility, accountability and greater integration of all facets of the business.

In another article, Your Strategic Thinking Business Coach provided seven (7) strategic actions to take to strategically structure a succession planning process. Those seven (7) strategic actions are:

Strategic Action #1: Begin the succession planning process early.

Strategic Action #2: Clearly determine and communicate the purpose, goals, and extent of the leadership succession plan or program.

Strategic Action #3: Clearly define the desired and required qualities of the new leader.

Strategic Action #4: Develop a clearly focused leadership development strategy.

Strategic Action #5: Develop a talent management process that will incorporate strategic thinking for specific development opportunities for future leaders.

Strategic Action #6: Identify future leadership candidates by developing a system for assessing current and future leadership needs.

Strategic Action #7: Identify a system for communicating information to ensure that the leadership succession and/or development programs are in line with strategic business needs.

After developing the list of strategic actions, it was important to develop an overall outline to present the strategically structured succession planning elements. That outline is as follows:

STRATEGICALLY STRUCTURED SUCCESSION PLAN OUTLINE

I. GOALS & OBJECTIVES

Develop a vision statement for your business

Develop a mission statement for your business

Develop a list of your core values & guiding principles

Develop short & long term goals for your business

Identify the stakeholders for your business

Develop your personal vision

Develop your personal goals

Develop your retirement goals

Create a team of advisors for your succession planning effort

Establish the need for a succession plan

II. EXIT STRATEGY

Develop options for your exit from your business

Review the developed options for your exit from the business

Select your option for your exit strategy

III. BUSINESS VALUATION

Obtain professional advice to determine the value of your business

Determine the value of your business

Determine a current value of your business assets & liabilities

Determine the goodwill value of your business

IV. BUSINESS STRUCTURE

Identify and quantify your business debt

Recruit & retain productive employees

Structure business to maximize value

Document key processes & procedures used in your business

V. TAX CONSIDERATIONS

Develop financial goals

Identify tax implications of your current business

Plan & implement tax strategy to minimize your taxes

VI. LEGAL CONSIDERATIONS

Retain professional legal counsel

Develop a buy-sell agreement for your business

VII. ESTATE PLANS

Retain a professional estate planning advisor

Develop an estate plan

VIII. SUCCESSOR SELECTION

Develop specific criteria for your successor

Recruit & select successor based upon your criteria

Communicate selection of successor to your stakeholders

IX. SUCCESSOR TRAINING

Develop a list of characteristics and skills needed by your successor

Develop a training plan for your successor

Develop a coaching/mentoring plan for your successor

Establish a timeline for your successor plan

X. CONTINGENCY PLAN

Develop a contingency plan (based on the “What Ifs?”)

Research & identify insurance needs (disability; personal life; critical illness; business; key person; etc.)

Select & train a key employee to take over in case of emergency or unforeseen event

Communicate your plan to stakeholders & advisors

XI. IMPLEMENTATION PLAN

Document the roles, responsibilities & expectations concerning the transition of ownership

Identify a facilitator to make sure the process of succession is carried out

XII. TIMELINES

Identify your timeline for the management transition

Identify your timeline for transition of ownership of your business

Identify your timeline for your complete exit from your business

XIII. COMMUNICATION

Document the succession plan

Document how to proceed with the succession plan in the event of an unforeseen event (accident, illness, death)

Document the transition or exit strategy to inform family, employees, clients, vendors, community & all stakeholders

Author: Glenn Ebersole
Article Source: EzineArticles.com
Provided by: Guest blogger

Business Grant or Business Loan…?

Grant programs don’t require credit checks, collateral, security deposits or co-signers. In some cases recipients are required to submit periodic progress reports to demonstrate that the grant funds are being utilized properly and goals are being achieved as projected in the application. Grants differ from loans in that they are not repayable. We all know what it takes to get a common loan…like auto loans, home loans, cash loans, etc. Why not try a free grant program that writes the grant for you and also addresses every issue you’ll need to cover before submitting it to the proper agency.

Business Grants Do What?

Business grants are one way that women can run successful businesses whether they have a home-based business or a business outside of the home. They are available to start a new or expand an existing business, equipment financing, acquisition of a new or existing business, rent, salaries, office expenses and overhead. Given to women who are small business owners to encourage and promote economic growth as well. Grants are available to anyone over 18 years of age. In fact, the small business grant you need to start or expand your business may be available right in your own home state.

The Purpose of Grants

A grant supports the business idea and turns the dreams of an entrepreneur in to reality. There are many types of grants offered by the government that include individual grants for personal necessities, business grants for starting new business, housing grants, ,education grants for funding education and many more.

Business Grants & Women

Grants are also available for women who want to buy an existing business. They are also available for women who want to attend business school so that they gain the knowledge they need to start their own business. They are also awarded to women who excel in their respective fields. The best part about business grants is that they are free in the sense that you do not have to pay back the money to the funding agency or the government. Women can also get money to encourage advanced online education have a distinct advantage over any business that leaves advanced learning to chance. Businesses that fall into this arena often find they are eligible for small business grants.

There are Other Options…

Also remember that the federal government, through the SBA, does offer a fine array of very attractive loans to start or expand a small business. There are also low interest and no Interest Government loans available for you to take full advantage of. Most small business owners have to look to personal resources and loans to finance their small business. You may have looked into bank loans, asked friends and family for a loan or looked into getting a few credit cards to pay for you to set your business up.

Grants for Women

Women have the largest opportunity of any group to benefit from the generosity of the Government Grant Programs. Women are taking more initiative to work for themselves. Womens small business grants are available in many forms. Women continue to account for the majority of stay at home parents. Women interested in accessing small business grants to start or expand their own businesses should understand certain limitations inherent in small business grant funding. Women have a 75% greater chance of success in business ownership.

Grants for Education

Education is a priority for any government, and for this reason the government. Education grants are available from various sources and are generally funded by the government, although many are established and sponsored by private institutions. They can vary in the amount of the grant as well as the period the grant is made available to the student. Women are also much easier to qualify for and get than education grants. Scholarships are also available for a myriad of situations.

A Little Info about the SBA

SBA does not provide lower interest rates for small businesses. SBA is not related to granting any free government grants, but instead it provides counseling, technical trainings and assistance in areas which are required to run a small business management using its resourceful SBDC or Small Business Development Center at absolutely NO extra Cost to you, its totally FREE. SBA has offices in every state and worked with various non-profit, lending and educational and training organizations nationwide. SBA also runs programs that are intended to help women with training and technical assistance, access to credit and capital, government contracts and such. As far as individuals are concerned, SBA does not offer business grants to any entrepreneur but it does help the minority groups, the women entrepreneurs, economic development of underdeveloped regions, and numerous such activities.

Author: J Pickett
Article Source: EzineArticles.com
Provided by: Gadget reviews

Key employees from all areas of the business should be included.

Communicating the strategic plan to all employees is an important critical step.

Challenging various departments to develop their own supporting tactical plans with specific objectives that focus on supporting the overall strategic plan of the company is the final piece.

Accountability for execution is the glue that holds the plan together.

In many cases, a well thought out strategic plan is developed that has the potential to substantially improve a company’s performance, but little thought is given to implementing, execution and accountability for the success of the plan.

There are a number of ways to insure that company behavior really changes as a result of the strategic planning process:

1. Specific real-world objectives must be set. These could be as simple as implementing a new pricing model, or as far-reaching as starting up a new Greenfield operation outside of your current geographical market area.

2. The objectives should be specific so that there is no ambiguity about what is required. Ideally the objective should not be to “consider becoming “Employer of Choice” (EOC), but should be to become EOC by recognizing specific initiatives required to succeed by a specific date. Exceptions will of course exist if there is information that must still be developed in order to finalize a specific objective.

3. Expected timing and personnel accountability should be created throughout the action planning for each objective. Ideally there should be one individual who is accountable to company management for reaching each core initiative.

Ten Common Mistakes Made in Strategic Planning:

1. A Dart Board approach that generates numerous initiatives but no means for implementation

2. Failure to involve employees form all levels of the organization

3. Developing vision, mission and value statements but no real actionable foresight as to what the business needs to look like 5 to 7 years into the future

4. A weekend retreat where everybody drinks the same koolaid but little gets done that is actionable

5. Failing to complete an effective roll out process

6. Violating the “people-support-what-they-help-create” premise. The “End Game” should be reviewed and consensus of direction should be reached by the strategy team and the CEO-0wnership

7. Conducting business as usual after strategic planning with no sense of urgency about the new strategic focus

8. Failing to make the tough choices and holding people accountable

9. Lacking specific Key Performance Indicators (KPIs) and measuring only what’s easy, not what’s important to the success of the strategic plan

10. Seeing the planning document as an end in itself and then letting it collect dust

“If you don’t get people to buy into the strategic process on how change is managed, it will fail. This makes a “Roll Out Process” and a Core Strategy Statement that is understood by all levels of employees absolutely essential.

The CEO Strategist Methodology

There are five components that make strategic plans effective. They are:

1. End Game – Vision for the Future

2. Critical Core Initiatives (CCIs)

3. Strategic Implementation Plans (SIPs)

4. Accountability – The Strategic Review Meeting (SRM)

5. The Roll Out Process

The End Game

The End Game is actually a Chess terminology used in the context of the end game strategy to win the game. It focuses on centralization of the king, the role of the pawns, the principle of weakness and the bishop’s impact and that is as far as I will go with chess talk. I am not a chess player. However, the concept of the “End Game” in business is actually quite the same as in chess, the point being — how do we win the game.

The “End Game” in business is simply defining what winning the game in your business is really about. What does winning mean. If you have seen one end game, you have seen one end game. Every end game is different, unique to the business, unique to its creator. The end game can be as simple as a statement about the character and integrity of the business or as detailed and complex as defining individual business segment growth with specific financial goals outlined with attendant timelines. Contrary to the definition of End, the “End Game” is really the beginning, the beginning of long term strategic planning.

Critical Core Initiatives

Critical Core Initiatives (CCIs) define how the End Game will be achieved. They provide the general framework for the “big picture” improvements in the most important areas. They are broad and ambitious. Each Critical Core Initiative is supported by a set of SIPs that contain a sequenced set of tasks, schedules, and named responsible individuals. The creation of SIPs indicates that the chosen area is one that provides a high payoff in terms of innovation and managed change.

Strategic Implementation Plans

Each Strategic Implementation Plan (SIP) also has an owner. On an annual basis, this responsibility may be reassigned, at management discretion. It is the owner’s responsibility to ensure that the agreed action steps and changes are accomplished within agreed time frame. For purposes of SIP accountability, each owner will be accountable to the President or another top-level executive, depending on organizational structure. It must be clearly understood that independent departmental segment business plans must be developed as the tactical part of this process once the strategic plan is approved.

SRM——The Review and Control Process

The key managerial tool to ensure steady, consistent progress on SIP tasks is the formal Strategic Review Meeting (SRM). The SRM is held monthly – Bi-monthly or Quarterly. It provides a critical feedback loop for the strategic plan.

The purpose of the SRM is to:

o Clearly understand the status of your key initiatives.

o Keep executive focus on strategic, rather than just urgent, issues.

o Facilitate communication and support throughout the executive team and the company.

o Formulate emergency responses to company-wide threats or opportunities.

o Leverage all appropriate company resources while maintaining proper accountability for performance.

o Review progress and determinate status of deferred SIPs

The SRM should be attended by members of the Strategy Team, executive management and other senior managers. It will follow a formal agenda and discussions should be driven by two objective measurements: performance against Key Performance Indicators (KPIs) and progress of SIP task completion. SIP and action item owners must be held accountable for achieving the desired results by the due date indicated in the plan. The entire team should be held accountable for meeting KPI goals.

The Roll Out Process

Make no mistake……….. Strategy is executed bu the employees. Communication with the employees that creates an understanding of what the company is trying to accomplish is essential to get employees on board and willing to give what it takes to create success. The key emphasis during this process must be about answering that age old question….. “Whats In It For Me” (WIIFM). Employees must recognize that value and success for the company creates value and success for them.

A key objective in the roll out process is to create a simplified version of the “Vision” that every employee can understand. This is often done by creating a strategic theme or “Core Strategy Statement”. Nike for example uses the statement “Just Do IT” not only for marketing purposes but it has helped create an internal success culture. One CEO Strategist client simply uses the term P.R.I.D.E. to represent their strategic focus.

PRIDE –”it’s more than a goal —- it’s a way of life at XYZ Company”

Professionalism – Reliability–Innovation–Dedication–Excellence

Of course the roll out process must clearly define exactly what that means to the employee. You get an “A” if you ask any employee and they can tell you what the companies strategic focus is about. You get an “A+++” if they can not only tell you what the strategic focus is but they can also explain their role or how they impact that focus.

Strategic planning is a creative process the starts with the visionary creativity of the owner or CEO. The fresh insight it engenders might very well alter past initiatives. Planning also consumes resources which are precious commodities. It can be an overwhelming and daunting task, but it is a process that eventually defines the direction and activities of the organization. Despite its overwhelming nature, the benefits of planning can far outweigh the hard work and pain involved in the process. Strategic planning is a key process that adjusts an organization’s direction in response to a changing environment. It supports the fundamental decisions and actions that shape and guide an organization. A sound strategic plan can help define and focus a distributor’s efforts to move the company in the right direction, using the best methods.

Strategic planning creates a team culture that is necessary for success. Working together effectively is not automatic. It takes a specific effort and the development of a culture that is supported by executive management. Shared experiences create unity and value. Knowledge transfer is essential for an organization to grow. Without knowledge transfer and the sharing of the planning experience it is difficult for the group to share the vision and work toward common goals.

Author: Rick Johnson
Article Source: EzineArticles.com
Provided by: Cool mobile gadgets

Business Grant or Business Loan…?

Grant programs don’t require credit checks, collateral, security deposits or co-signers. In some cases recipients are required to submit periodic progress reports to demonstrate that the grant funds are being utilized properly and goals are being achieved as projected in the application. Grants differ from loans in that they are not repayable. We all know what it takes to get a common loan…like auto loans, home loans, cash loans, etc. Why not try a free grant program that writes the grant for you and also addresses every issue you’ll need to cover before submitting it to the proper agency.

Business Grants Do What?

Business grants are one way that women can run successful businesses whether they have a home-based business or a business outside of the home. They are available to start a new or expand an existing business, equipment financing, acquisition of a new or existing business, rent, salaries, office expenses and overhead. Given to women who are small business owners to encourage and promote economic growth as well. Grants are available to anyone over 18 years of age. In fact, the small business grant you need to start or expand your business may be available right in your own home state.

The Purpose of Grants

A grant supports the business idea and turns the dreams of an entrepreneur in to reality. There are many types of grants offered by the government that include individual grants for personal necessities, business grants for starting new business, housing grants, ,education grants for funding education and many more.

Business Grants & Women

Grants are also available for women who want to buy an existing business. They are also available for women who want to attend business school so that they gain the knowledge they need to start their own business. They are also awarded to women who excel in their respective fields. The best part about business grants is that they are free in the sense that you do not have to pay back the money to the funding agency or the government. Women can also get money to encourage advanced online education have a distinct advantage over any business that leaves advanced learning to chance. Businesses that fall into this arena often find they are eligible for small business grants.

There are Other Options…

Also remember that the federal government, through the SBA, does offer a fine array of very attractive loans to start or expand a small business. There are also low interest and no Interest Government loans available for you to take full advantage of. Most small business owners have to look to personal resources and loans to finance their small business. You may have looked into bank loans, asked friends and family for a loan or looked into getting a few credit cards to pay for you to set your business up.

Grants for Women

Women have the largest opportunity of any group to benefit from the generosity of the Government Grant Programs. Women are taking more initiative to work for themselves. Womens small business grants are available in many forms. Women continue to account for the majority of stay at home parents. Women interested in accessing small business grants to start or expand their own businesses should understand certain limitations inherent in small business grant funding. Women have a 75% greater chance of success in business ownership.

Grants for Education

Education is a priority for any government, and for this reason the government. Education grants are available from various sources and are generally funded by the government, although many are established and sponsored by private institutions. They can vary in the amount of the grant as well as the period the grant is made available to the student. Women are also much easier to qualify for and get than education grants. Scholarships are also available for a myriad of situations.

A Little Info about the SBA

SBA does not provide lower interest rates for small businesses. SBA is not related to granting any free government grants, but instead it provides counseling, technical trainings and assistance in areas which are required to run a small business management using its resourceful SBDC or Small Business Development Center at absolutely NO extra Cost to you, its totally FREE. SBA has offices in every state and worked with various non-profit, lending and educational and training organizations nationwide. SBA also runs programs that are intended to help women with training and technical assistance, access to credit and capital, government contracts and such. As far as individuals are concerned, SBA does not offer business grants to any entrepreneur but it does help the minority groups, the women entrepreneurs, economic development of underdeveloped regions, and numerous such activities.

Author: J Pickett
Article Source: EzineArticles.com
Provided by: Canada duty rate

The rapidly changing demographics in the workplace prove that there is a real challenge to find talent for leadership roles. Companies that are able to respond proactively with strategically developed and implemented effective leadership succession plans are in a superior position in the marketplace and global economies. Your Strategic Thinking Business Coach offers the following list of ten (10) deadly succession planning mistakes that small businesses make and that you should avoid. The ten (10) deadly mistakes are:

Deadly Mistake #1: Develop a succession plan without any strategic plans. A succession plan will define a company’s business heirs, but that is only part of what is really needed. The other question beyond “WHO?” is the question of “WHAT?” will they inherit? The absence of a strategic plan will mean there are no vision, no mission, no set of core values, and no goals and strategic action plan. It is critical for current business owners to spend time planning for the future. Every business needs strategic plans to increase its viability and its market value.

Deadly Mistake #2: Fail to develop clearly focused and defined goals. If businesses do not have clearly defined and measurable goals, then they are unlikely to achieve successful succession planning. A major goal of succession planning should be to address issues relating to when is it time to sell or transfer power, what will the current owners do after the transfer, what percentage of the purchase price can be financed, what would define a great buyer for the future of the business, and what tax implications need to be considered. All these issues remind us of why so many business owners become overwhelmed and scared to think about succession planning when these key issues have not been addressed.

Deadly Mistake #3: Delay the initiation of work on the succession planning. There are a variety of reasons firms procrastinate about developing succession plans: they will say there are too many pressing matters at hand; they get depressed thinking the subject of succession planning; there is plenty of time; and the current owners will be around for a long time. It does amaze me that most small and medium-sized businesses fail to appreciate that accidents can and do happen to business owners and that is when the succession plans really pay dividends.

Deadly Mistake #4: Fail to strategically develop a market for the business. Too many small and medium-sized business owners operate under the myth that when it comes time to exit their business, they will simply sell the business, and retire with a bundle of cash. Unfortunately that is more of a myth than a reality. It is a reality that thousands of business is listed for sale each year, and there are no buyers for those businesses. Why? Basically because there is no demand and therefore current business owners need to market their businesses and “create demand” for owning the business. Otherwise, they probably will not have any choice in selecting successors or a new management team.

Deadly Mistake #5: Fail to obtain a professional independent valuation of the business. It will be hard to attract good buyers or successors unless there is agreement on a realistic value of the business. Too many times business owners are shocked that the business they have developed and the capital they have acquired is valued much less in the market than they personally value it. Another important thing to remember is that the value of the business may also depend on external factors beyond the control of the current owners, and contingency business valuations also may be required.

Deadly Mistake #6: Don’t tell the staff about your succession plans. Keep your succession plans a secret. When the staff is left in “the dark” as to who will be the successor in running the business, it creates the impression that there is no succession plan and there is real concern about how the business will continue past the current owners. And another negative result could be that the new owners will be treated with suspicion. A significant missed opportunity could result from keeping the succession plans secret since it will hinder existing managers and employees from identifying themselves as possible successors. And without a firm commitment or expectation about the future, key personnel could decide to leave the business.

Deadly Mistake #7: Commit to sell the business to an insider who does not have the needed funding to purchase the business. For sentimental reasons, many business owners prefer to sell their business to a trusted employee who has been with the firm for years. But, in reality, too many times these employees have little funding to acquire a business. If that is the case, then the current owner must develop some form of a deferred compensation plan or other alternative.

Deadly Mistake #8: Fail to train your chosen successor. Many small businesses forget to realize that the new owners must possess or obtain very critical skills and experience to successfully run the business they are buying. If key skills and responsibilities are missing from the background of a likely internal successor, then a part of your succession planning needs to be developed with the goal to train and develop that successor into a better and more qualified person. A specific and customized training program should be developed after completing an assessment of the successor’s needed skills and identifying what specific training is needed.

Deadly Mistake #9: Fail to review, revise and update your succession plan.
Some businesses make the mistake of believing that after a succession plan is written, there is allegedly no need to revise it. This is a major mistake since succession planning is a dynamic process that involves training, hiring, internal development, and external marketing. Succession plans must remain current and relevant and they need to be periodically updated and revised to address changes in the market place that the business is currently facing and will face in the future.

Deadly Mistake #10: Develop a succession plan without considering the “What Ifs?” and not ensuring the necessary protection for all parties concerned. The succession plan needs to have contingencies.

Your Strategic Thinking Business Coach encourages you to develop a succession plan without making any of the above mistakes. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at http://www.businesscoach4u.com or by email at jgecoach@aol.com

Author: Glenn Ebersole
Article Source: EzineArticles.com
Provided by: Mobile device news

Business Grant or Business Loan…?

Grant programs don’t require credit checks, collateral, security deposits or co-signers. In some cases recipients are required to submit periodic progress reports to demonstrate that the grant funds are being utilized properly and goals are being achieved as projected in the application. Grants differ from loans in that they are not repayable. We all know what it takes to get a common loan…like auto loans, home loans, cash loans, etc. Why not try a free grant program that writes the grant for you and also addresses every issue you’ll need to cover before submitting it to the proper agency.

Business Grants Do What?

Business grants are one way that women can run successful businesses whether they have a home-based business or a business outside of the home. They are available to start a new or expand an existing business, equipment financing, acquisition of a new or existing business, rent, salaries, office expenses and overhead. Given to women who are small business owners to encourage and promote economic growth as well. Grants are available to anyone over 18 years of age. In fact, the small business grant you need to start or expand your business may be available right in your own home state.

The Purpose of Grants

A grant supports the business idea and turns the dreams of an entrepreneur in to reality. There are many types of grants offered by the government that include individual grants for personal necessities, business grants for starting new business, housing grants, ,education grants for funding education and many more.

Business Grants & Women

Grants are also available for women who want to buy an existing business. They are also available for women who want to attend business school so that they gain the knowledge they need to start their own business. They are also awarded to women who excel in their respective fields. The best part about business grants is that they are free in the sense that you do not have to pay back the money to the funding agency or the government. Women can also get money to encourage advanced online education have a distinct advantage over any business that leaves advanced learning to chance. Businesses that fall into this arena often find they are eligible for small business grants.

There are Other Options…

Also remember that the federal government, through the SBA, does offer a fine array of very attractive loans to start or expand a small business. There are also low interest and no Interest Government loans available for you to take full advantage of. Most small business owners have to look to personal resources and loans to finance their small business. You may have looked into bank loans, asked friends and family for a loan or looked into getting a few credit cards to pay for you to set your business up.

Grants for Women

Women have the largest opportunity of any group to benefit from the generosity of the Government Grant Programs. Women are taking more initiative to work for themselves. Womens small business grants are available in many forms. Women continue to account for the majority of stay at home parents. Women interested in accessing small business grants to start or expand their own businesses should understand certain limitations inherent in small business grant funding. Women have a 75% greater chance of success in business ownership.

Grants for Education

Education is a priority for any government, and for this reason the government. Education grants are available from various sources and are generally funded by the government, although many are established and sponsored by private institutions. They can vary in the amount of the grant as well as the period the grant is made available to the student. Women are also much easier to qualify for and get than education grants. Scholarships are also available for a myriad of situations.

A Little Info about the SBA

SBA does not provide lower interest rates for small businesses. SBA is not related to granting any free government grants, but instead it provides counseling, technical trainings and assistance in areas which are required to run a small business management using its resourceful SBDC or Small Business Development Center at absolutely NO extra Cost to you, its totally FREE. SBA has offices in every state and worked with various non-profit, lending and educational and training organizations nationwide. SBA also runs programs that are intended to help women with training and technical assistance, access to credit and capital, government contracts and such. As far as individuals are concerned, SBA does not offer business grants to any entrepreneur but it does help the minority groups, the women entrepreneurs, economic development of underdeveloped regions, and numerous such activities.

Author: J Pickett
Article Source: EzineArticles.com
Provided by: Digital TV, HDTV, Satellite TV

Whether you are just getting a new business off the ground, expanding the business you have, or purchasing a business, devote plenty of time to planning:

* Begin with a discovery process to confirm the viability of your venture.

* Do your homework.

* Uncover fundamental objectives, insights, opportunities and risks.

* Research the market.

* Examine your offering, market conditions, trends, and the competition.

* Excavate potential problems.

* Outline your goals and objectives.

* Compile the business intelligence you need to create a solid foundation of actionable information to chart your present and future direction.

The next logical step is to develop a plan- -a strategic business plan that functions as a living document to define your objectives, guide your business, and take you from Point A(where you are today) to Point Z (where you would like to be). But remember- -a strategic plan is about more than securing funding- -it is essential to jump starting your business. And once you have written your business plan, follow it up with an action plan that spells out your short and long-term objectives and how you will achieve them.

Just remember this–there is no underestimating the power of planning. As the former CEO of Octel and Lucent Technologies notes, “People usually plan their vacations more carefully than they plan their careers. I am a compulsive planner, but there were times when I had no idea what I was doing.”

Even when you have no idea what you are doing, developing and implementing a plan improves your chances of achieving your goals. This article outlines the fundamental components of crafting a strategic plan to take your business to the next level.

What is a strategic plan?

Strategic planning is the process by which the key stakeholders (you and your partners) in an organization envision its future and develop the procedures and operations that will enable you to achieve that vision.

A strategic business plan serves two purposes. First, it is an internal document that defines your goals, strategies, and tactics. Second, it is a tool for raising capital. However, you need a plan, whether you are looking for capital or not. Without a plan you would not know where you are going and you have no way to benchmark or track your progress.

With a strategic plan you have a road map that enables you to look ahead, allocate resources, focus on key points and prepare for problems and opportunities.

A well-articulated strategic business plan clearly outlines your vision, goals, priorities, strategies, products, services, and financing needs. It also provides relevant information about your company, your management team, and short- and long-term objectives. Highlighting both the positive and negative aspects of your business opportunity, your strategic plan should look ahead from three to five years.

How do I write a business plan?

As they say, there is more than one way to skin a cat. Likewise, there is more than one way to write a business plan. Formats, outlines, and lengths vary. But they all tend to share a generally accepted format and certain standard components.

Your plan must be clearly written, logically organized, and convincingly worded. It should target a specific audience. It should outline the details of financing, competition, strengths, weaknesses, and forecasted financial performance.

As a rule of thumb, when writing your plan, include the following components:

* Cover letter: write a cover letter to introduce you and your business plan to your audience.

* Title page: include a title page that details the content of your plan, your name, address, phone number, names and positions of the executive team, date and contact information.

* Table of contents: add a table of contents to make it easy for readers to find information.

* Statement of purpose: include a clearly stated explanation of your company’s goals and how you will achieve them. For example, your statement of purpose may be “to provide quality, reliable landscaping services for less in the Phoenix metropolitan area.” Describe your value proposition, whether it’s price, convenience, service or another attribute, how much capital you will need, and how you will repay it.

* Executive summary: this is the most important part of your business plan. Include a brief summary that highlights the major points of your plan. Provide background on your business, the market, your value proposition, key team members, projected ROI (Return on Investment), internal rate of return, and current and potential risks.

* Market information: describe your target market(s). Substantiate statements with facts and supporting detail. Include market research on initial and future markets, key market segments, past growth rates, anticipated trends and changes.

* Company: describe your company, its type, history, legal structure, industry, market, principals, revenue size and growth rate.

* Product/service description: describe your offering, relevant business benefits, stage of development, how your product/services will satisfy a real business need and enable you to compete.

* Management team: include detailed information on the core members of your team–the people who will run the company, as well as senior partners, attorneys, financial and business advisors. Include names, titles, experience, skills, responsibilities and compensation.

* Potential risk factors: include an assessment of the risks facing the company. Describe the worst-case scenario and anything that could go wrong today and in the future. Offer strategies for overcoming risk.

* Execution/action plan: describe how you will translate your business plan into actionable results down to the finest detail. Describe how you will obtain licenses to do business, open an establishment, get products on the shelf, hire employees, and forge partnerships. Describe production schedules, delivery processes, and customer service policies in order to set operational benchmarks to measure progress.

* Financial information: Include a section that projects future revenues and profits three to five years out. Base this information on best-case, worst-case and most likely-case scenarios. Summarize financial data like cash flow, income statements, balance sheets, banking relationships, terms and rates of loans, financing plans and working capital requirements.

* Legal preparation: includes corporate bylaws, patents and trademarks, licenses to do business, employment agreements, and customer contracts. Anticipate the legal and documentary setup your business will require. Writing a business plan can seem like a daunting task. However, there are many resources available to help you prepare a sound plan. You can find books in your local bookstore, software programs and templates online and in local computer/software stores or you can work with a consulting firm, a nearby Small Business Development Center or a local business school.

No time like the present to start to plan your work and work your plan. Happy planning…>

Author: Terry H Hill
Article Source: EzineArticles.com
Provided by: Digital Camera News

Business Grant or Business Loan…?

Grant programs don’t require credit checks, collateral, security deposits or co-signers. In some cases recipients are required to submit periodic progress reports to demonstrate that the grant funds are being utilized properly and goals are being achieved as projected in the application. Grants differ from loans in that they are not repayable. We all know what it takes to get a common loan…like auto loans, home loans, cash loans, etc. Why not try a free grant program that writes the grant for you and also addresses every issue you’ll need to cover before submitting it to the proper agency.

Business Grants Do What?

Business grants are one way that women can run successful businesses whether they have a home-based business or a business outside of the home. They are available to start a new or expand an existing business, equipment financing, acquisition of a new or existing business, rent, salaries, office expenses and overhead. Given to women who are small business owners to encourage and promote economic growth as well. Grants are available to anyone over 18 years of age. In fact, the small business grant you need to start or expand your business may be available right in your own home state.

The Purpose of Grants

A grant supports the business idea and turns the dreams of an entrepreneur in to reality. There are many types of grants offered by the government that include individual grants for personal necessities, business grants for starting new business, housing grants, ,education grants for funding education and many more.

Business Grants & Women

Grants are also available for women who want to buy an existing business. They are also available for women who want to attend business school so that they gain the knowledge they need to start their own business. They are also awarded to women who excel in their respective fields. The best part about business grants is that they are free in the sense that you do not have to pay back the money to the funding agency or the government. Women can also get money to encourage advanced online education have a distinct advantage over any business that leaves advanced learning to chance. Businesses that fall into this arena often find they are eligible for small business grants.

There are Other Options…

Also remember that the federal government, through the SBA, does offer a fine array of very attractive loans to start or expand a small business. There are also low interest and no Interest Government loans available for you to take full advantage of. Most small business owners have to look to personal resources and loans to finance their small business. You may have looked into bank loans, asked friends and family for a loan or looked into getting a few credit cards to pay for you to set your business up.

Grants for Women

Women have the largest opportunity of any group to benefit from the generosity of the Government Grant Programs. Women are taking more initiative to work for themselves. Womens small business grants are available in many forms. Women continue to account for the majority of stay at home parents. Women interested in accessing small business grants to start or expand their own businesses should understand certain limitations inherent in small business grant funding. Women have a 75% greater chance of success in business ownership.

Grants for Education

Education is a priority for any government, and for this reason the government. Education grants are available from various sources and are generally funded by the government, although many are established and sponsored by private institutions. They can vary in the amount of the grant as well as the period the grant is made available to the student. Women are also much easier to qualify for and get than education grants. Scholarships are also available for a myriad of situations.

A Little Info about the SBA

SBA does not provide lower interest rates for small businesses. SBA is not related to granting any free government grants, but instead it provides counseling, technical trainings and assistance in areas which are required to run a small business management using its resourceful SBDC or Small Business Development Center at absolutely NO extra Cost to you, its totally FREE. SBA has offices in every state and worked with various non-profit, lending and educational and training organizations nationwide. SBA also runs programs that are intended to help women with training and technical assistance, access to credit and capital, government contracts and such. As far as individuals are concerned, SBA does not offer business grants to any entrepreneur but it does help the minority groups, the women entrepreneurs, economic development of underdeveloped regions, and numerous such activities.

Author: J Pickett
Article Source: EzineArticles.com
Provided by: Beading Necklace