Creating the business plan for your spa is a great opportunity to look ahead past the pre-launch and fundraising phase, which is probably all you can think about at the moment. The operations plan requires an understanding of the key operations systems for your day spa. Whether they use software or paper checklists, these are operations systems you should cover. Sales and Fulfillment SystemYou should map out the sales and fulfillment process,...more
When opening your own coffee shop, think deeply about the specific neighborhood you are in and methods that might work for you to reach customers. Some of these may be methods other coffee shops, bars, and restaurants have used, and others may occur to you by thinking from the perspective of your customers. Here are two examples of common marketing methods to consider.Street VisibilitySince purchasing a cup of coffee, other beverage, or a snack...more
Quality assurance is an important element of the used car business, and your methods should be explained in your business plan. Used car dealers must be able to know that the cars they sell are sellable to keep a positive reputation in the community and to avoid any legal entanglements. Lemon LawsFirst, a used car dealer should know the so-called lemon laws of the state he operates within. Lemon laws protect customers who have been sold a car which does not meet standards of quality and performance. Know your rights and responsibilities as a used car dealer and what kind of due diligence is required. Car HistoryYou should look into the history of the car, provided by the previous owner and verified by you. Carfax and similar services should be able to verify that the car has not been stolen and to look into its inspection history. A trusted mechanic should check the condition of the car and write a written report about it. By building a long-term relationship with such a mechanic, you can be more assured that they will be honest and thorough in their work, and not leave out issues, for example, on the hopes it will bring more work to them when a part fails down the road.Show the...more
Putting together your management team for your catering business requires you to take stock of where your expertise really lies. The skill sets and workloads required of the sales and operations aspects of the catering business are such you will probably need, at minimum, two managers to fill these roles. Consider which you will be and then how to...more
A business consultant launching his or her own business has the chance to choose the competition they will face by choosing the type of services they will offer. Whatever your choice, this information makes its way into the business plan in the competitive analysis section and must feature clear and thorough research on your competition. Small...more
Author: Andrew RogersonBuying or selling a business is a major step for all entrepreneurs. It comes with obvious financial risk which everyone understands and prevents many would-be-entrepreneurs from starting their journey. However, an element not many understand is that the business ownership comes with many emotional risks that play a more important role than the money itself. Entrepreneurs are constantly challenged by many emotional risks. The obvious one is success or failure. For most entrepreneurs, once they come to terms with the financial risk involved with business ownership, their next challenge is coming to terms with the fact that owning a business comes with the possibility it will fail. That alone is a concern but the real concern is what they will say to family and friends. Another emotional risk which is part of an entrepreneur’s journey is handling the ups and downs. Every entrepreneur hopes there are more ups than downs but the downs are part of the landscape of being a business owner. This means not only emotionally handling these situations but more importantly, building and using different tools and resources so they are available when...more
Author: TJ PhilpottThe real keys to success for an internet business have more to do with what can be found within the person then it does with any business plan or structure. Marketing on the internet successfully involves the ability to adapt to a...more
Author: Hannah OgdenThe river in Texas Hold’em is the last community of card. You will not see the river card unless you have a strong hand that is a favorite to win or you have a draw to a winning hand. Once the river card is turned over, you know...more
Author: Hannah OgdenWhat is split pots in Texas Hold’Em? When two players have the same hand, the most common hands, it comes down to a matter of kickers. When hands are the same like two pair versus two pair, it often just comes down to who has...more
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