Sound financial business planning means taking ongoing assessment steps looking at the business from multiple perspectives including capitalization, expansion, menu concepts, cash flow and even an exit strategy. Whether you are a chef dreaming of your own restaurant, the head of a family business discussing succession, an independent considering retirement or you are thinking about buying or selling, determining the business market value is a...more
So you want to open a restaurant? Many people come to me with their plans, and ideas after they have decided to build or open a restaurant. It is my responsibility to assist them in their planning process and determine how clearly they have thought their concept through. I ask them to show me a menu, and if their initial response is "I haven't gotten that far in my planning process yet," my response is "You haven't started the planning process...more
Continuing from the second article:6. About the aground mathematical model, let us to see the product k: First quantity received in 10/6/98, quantity 1,000, unit cost US$ 34.00. Second in 12/11/98, quantity 1,300, unit cost US$ 23.00 Third in 1/10/99, quantity 760, unit cost US$ 36.00Therefore, if not been sold we would have 3,060 units in stock today. But you sold - in several opportunities - a total of 1,300 units, and our current total stock is of 1,760 units. We also have the data of those sales, besides its responsible salesman.The question is: Because today is 1/11/99, about the product k what quantity should be consider as aground and therefore with a differentiated treatment in prices and sales conditions and also in marketing, in order to sell your balance in stock?7. To establish the definitive aground formula that will be created - in Notes - and the new Views automatically computed, for example View 1 - column - reduced sales price, if sold in the next 15 days View 2 - column - same, for next month.Remember that those information are practically online, and they can be visualized in every terminal of the company at local or regional or national or international...more
The Shadow knows. There used to be a radio program called The Shadow where the hero, Lamont Cranston, the Shadow, would overcome the shadowy forces of doom by clouding the vision of those around him. "Who knows what evil lurks in the hearts of men" was their intro line. They were great shows and you can still find them on the Internet. The stock...more
People will always stress that having a well researched business plan is key before you start your business. Although creating a business plan is often an important step in the evolution of a business, particularly if you need financing or you are not experienced at running a business, it is not necessarily the essential first step. There are two...more
The choice of financing is an important determinant of whether a product reaches the market, or whether an existing business can survive. The choice of financing is an important part of being an entrepreneur and business owner, and the ability to raise cash when you have no or limited history takes skill and creativity. There are a number of sources of financing. The suitability of the alternatives depends on what stage you are at, and will change as the company matures from stage to stage. The following outlines the most typical forms available. Yourself, Family and FriendsThe most obvious and common start is for people to self finance. That means they either draw down on their savings or they use personal debt such as credit cards, credit lines or equity mortgages to finance their business. Family and friends are often used as a source of financing. Although they are not always in a position to properly evaluate the business venture, family and friends have long-time relationships and experience with the entrepreneur and are knowledgeable about his/her reliability and ability. Strategic Partner Strategic partners can not only provide a source of financing, but often they can...more
What is a balance transfer ?A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%)...more
Just a few years ago, when one thought of a home-based sales business, Tupperware, Avon and a host of multi-level marketing schemes might have come to mind. Today, however, changing market conditions and evolving consumer habits have converged to...more
What do your customers say about your company? Would you let your major competitor control your sales strategy?Public relations is an inevitable consequence of being in business. Whether you like it or not, your corporate image evolves with every...more
Where is our success? Although there have been improvements, over 60% of projects/programs failed and many were canceled in 2003 (ref:The Standish Report CHAOS)! Our goal for 2004 and beyond is to contribute to a 60% and better, project/program...more
Satisfying and lucrative real estate investment depends upon your correct assessment of profit potential, of course, but your ultimate success depends on your ability to transform a fixer into a dollhouse. The renovation process involves physical...more
Build Wealth From HomeAs you sit in traffic, inching along between irate drivers, you think to yourself, "there must be a better way." You get to work, you endure another tirade from an incompetent boss, and you think, "there must be a better way."...more