How Should I Present The Competitor Analysis In My Business Plan?

When creating my business plan, how should I present and lay out the competitor-analysis section? And for my customer and market analyses, I need statistics on the estimated number of people studying in MBA programs in the U.S. An analysis of the competition provides critical data in a business plan because without knowing the competition, […]

Raising Startup Capital For An Existing Business

In order to get your venture fully operational, you need financing. You will need money for equipment, offices, staff, marketing, and supplies. In other words, you need capital to start up. Although similar, seed capital and startup capital should be distinguished. Seed capital, used to fully develop a concept, can normally be funded only through […]

Why It Is Important For An Entrepreneur To Develop A Business Plan

If your networking and contacts find the door to capitalizing your company, the business plan is your key to opening it. It is especially important to entrepreneurs, who can use a solid document to defeat any credibility issues about your management of the venture. Even if you recognize the need for a small business plan, […]

Major Funding Options For Small Businesses

The money for your business can come from many different places. Most ventures are funded by a combination of sources, including any or all of the following: Personal savings and “sweat equity,” or your unpaid hours, are an expected component of your financing. Even if your company is eventually fully funded, you will inevitably have […]

Tips On Becoming A Better Manager

I am a company director living in Spain. About two months ago, I started a small Web site-designing business with the help of six other people. So far, the business is not running so well, although I’m trying my best to be a good manager. People are starting to get tired and most of them […]

How To Legally Name A New Business

Picking a business name can be hard work: You’re creating your own brand. And with so many names out there already, the task of finding a unique name can require some creative thinking. In addition, you’ll need to meet local legal requirements and find out what domain names are available. Where to start? State and […]

Franchise Questions To Ask Owners Before Buying

What questions are appropriate to ask other franchisees? I’m applying to buy a franchise. As part of the application process, I have to visit several current franchisees. It is appropriate to ask them about net margins, gross sales, and daily units sold? I don’t want them to tell me to mind my own business! In […]

Staff Needed To Start A New Business

You may be going into business for yourself, but you shouldn’t be doing it alone. Even if you have a great idea and the drive to make it happen, you may not have all the skills you need. To fill in those blanks, you need two types of people — specialists and supporters. That’s why […]

Learning To Charge Your Friends For Services

I have a small business startup. Friends often ask me to do work for them, but I have a hard time charging them. Some say they will pay me, but I turn them down. I need to maintain a profit margin, but I keep getting caught in the same cycle. What do I do? Still […]

How To Hire An Accountant For Your Small Business

Finding a proactive accountant — one who goes beyond simply preparing your tax returns — can help chart your financial course and put you in control of your money. Whatever your level of knowledge, accountants can help you better understand your financial situation. “Even in this day and age,” says Debra Simon, a certified public […]

How To Calculate The Value Of A Small Business

How is the value of a company established? I have been offered the chance to purchase a company that has minimal assets but a very lucrative contract that generates substantial cash flow and profit. The problem is calculating the value of the contract. On a straight cash flow, profitability standpoint, it would appear fine. However, […]

How To Determine And Track Business Profitability

The answer to the question “Is your business profitable?” seems like it should be obvious from a quick look at the checkbook or a nod from an accountant. As counterintuitive as it is, small business owners are sometimes among the last to realize that their businesses are unprofitable. Often preoccupied by the necessary endeavors of […]

How To Land A Product Licensing Agreement

How can I get a company to consider my ideas and products for licensing? Do you have any suggestions for convincing an existing company to consider my business’s ideas and products for licensing? Many companies say they can’t consider my ideas for “legal reasons,” yet they accept other people’s products. While many companies do license […]

Maximize Your Print Marketing Campaign By Tracking Results

In the previous article, “How To Plan A Print Marketing Campaign“, we discussed successful approaches to marketing via direct mail, flyers, newsletters, and other print media. Now it’s time to address the bottom line: results. Know What To Measure Before judging the success of an advertising or direct-mail campaign, it’s important to review your initial […]

Tips For Writing A Successful Business Plan

Writing a business plan is one of the most demanding and tedious challenges facing entrepreneurs, invariably taking dozens or even hundreds of hours of executive time. And as your business grows the task becomes ever more daunting, simply because the business becomes more complex; there are more details to cover in terms of planning operations, […]

Solving Small Business Cash Flow Problems

I am having cash-flow problems. Should I obtain a line of credit to cover expenses? A few years ago I started a janitorial company. Originally, I kept my previous job, but last year I began working on my business full-time, and now I’m running into a cash flow issues. Do you think I should get […]

How To Plan A Print Marketing Campaign – Tips And Ideas

Internet marketing is the buzz of the news media and business world. Forrester Research predicts that online advertising expenditures will reach $77 billion by the year 2016, comprising 35% of overall ad spending. Yet despite the Internet’s explosive growth, print is still a great marketing tool for most businesses. After all, many consumers and businesses […]

Managing Large Projects And Resources With Microsoft Project

If you manage large projects or several smaller projects, you need to track how your staff is used, how your machinery and equipment is used, all while keeping up with the project schedule. The goal is to maximize all of your resources so you can maximize your billing and minimize the time it takes to […]