Friday 25 January 2013

Components of a business plan and some inspiration

In order that your market research goes smoothly I thought I'd share with you the components of a business plan so you will have an idea of what to do step by step. 
Why write one? Well its a good habit to write your goals, ideas, down on paper. This exercise helps to keep your thoughts organized and also, it demonstrates your commitment to your business, it will impress potential investors, suppliers, and employees

Components of a basic plan:
  • Table of contents
  • Executive Summary
  • Company Description
  • Market Research
  • Marketing Plan
  • Financial Analysis
  • Operations Plan
  • Appendix    
By the time you are finished with your plan you should have a guidebook/in PDF format that could be used as a future product to help others.
 
A truly successful person does not use others, other people use them If you can contribute to others, no matter how small your talent, you too can become successful. The measure of anyone is the number of people that they serve.
Service to others is the essence of success. No one achieves success
without being of service. All great men and women became successful
because they gave some talent or ability in the service of others.

That's it for now until next post. We can start the first step which has to do with clarifying your offer.


Thank you,
Marsha Anderson

Monday 21 January 2013

How you can build capital for your home-based business

Hello and welcome back.

I will like to stay on the topic of acquiring income from income.

The funds that you  are saving (from the income you are already receiving) for an investment is also called capital. You need to have the capital to start a home-based business. Lets say for instance an opportunity arises for you to start your business,  you may need extra money in order to proceed with your venture, your bank manager will already have a history of  your finances and will most likely lend you the extra cash that you are needing at that time, however, you may still have to create a convincing proposal/plan to demonstrate to the institution that you know what you are about to do.

It is for that reason, a good business plan is necessary. A good business plan is based on how well you did your research, particularly on the topic of which market you are targeting. In other words, which group of people will most likely benefit from your products and services and become your customers. You also have to keep in mind, if there is a need for your products and services.

Which group of people: Some examples to consider.

  • Pensioners/retired
  • Youths/teenagers/students
  • Parents/working class
  • Male, female, toddlers

That's all for today. Next post I will discuss how to research your target market.
Have a productive week.

Marsha Anderson