One of your goals, as an entrepreneur, is to create a business plan which presents no clear obstacles for funding to those who read it. The plan should make a funders decision to invest in or lend to the company easy. Here is a run-down of what a business plan that meets this requirement will have: Clear and Growing MarketThe customer group for an easily fundable business should have a clear and pressing need for the product or service in...more
Wal-Mart is not just the biggest retail chain, but the world's largest corporation, and has achieved its massive scale and profits by seeking efficiency and low costs in every aspect of its work. That is how they can discounting products below what other stores can compete with. For a new retail store, Wal-Mart may seem like the enemy - a store that will either be your top competitor or a potential top competitor if it ever opens in your store's...more
Your service business plan should include an operations plan detailing how the business will function internally. Consider the key aspects associated with your specific type of business, which may include one or more of the following:Front Office/Back Office SplitFor many types of services, there is a clear front-end to the business, consisting of a sales or service counter, or its equivalent. It may be very apparent what type of activities and transactions have to happen here, in view of the customer, but dont forget that money can be saved by taking care of other activities out of the customers view or even at another location. There is a lower cost associated with building out the spaces that are not in view of the customer (whether these are physical locations or the back-end of a website) because aesthetics are not as much of a concern. If certain tasks do not have to happen while customers wait, they can be performed in batches in the back-office, keeping costs down overall. Yield ManagementYield management is applicable in businesses where a service is sold is a fixed, perishable resource, such as airline seats or hotel rooms. Yield management assists with pricing decisions...more
When opening a daycare business, be careful to not assume too much about your customers and your competition. Look closely at who they are and you may be surprised about how your thinking about these definitions develops. Customers In one sense, your customers are the children who attend your daycare center. They are the people who you interact...more
Toronto, Canada - GAO RFID Inc. (www.GAORFID.com) has launched its 2.45GHz gain-adjustable active WiFi RFID reader, which utilizes an advanced 0.18mCMOS IC for ultra-low power consumption and also uses 802.11b wireless communication standard. The active WiFi RFID reader is suitable for such applications as personnel location, logistics and...more
One of the best forms of advertising for a foreclosure cleanup business is non-paid advertising: public relations ("PR"). There are several forms of PR, but one of the most effective forms is the writing of a press release. Tell the WorldWhen you first open your company's doors, announce your grand opening to the world via a simple press release. This will be a story that you will write and pitch to local media outlets. You don't need to pay someone hundreds of dollars to create a press release for you. With a little research, you can easily do it yourself. The trick to writing an effective press release (one that will get picked up by the media) is to have the story focus on something else and NOT your business. You will plop your business' name in the story "as an aside." Make sure the story is newsworthy, timely, and interesting. Contact Journalists Directly A good way to get media coverage is to contact local journalists directly. Our foreclosure cleanup company landed a story on a local television station because we pitched them with a story idea via email. Within the email, we gave them two angles from which they could report the story. Below is the actual email we sent...more
First off when getting started in the Vending Business know this, that you don't need thousands of dollars or a large amount of capital to start making money in this business. There are many different ways to acquire machines for your business.As a...more
Several of us may have seen stage shows on hypnosis mostly as a means of entertainment. If you did not, then you might have experienced similar entertainment through comic books, television shows or movies. However, what is the potential of hypnosis?...more
An international conference on climate change is in progress at Copenhagen. Meanwhile a secret UN document has revealed that despite all the efforts, our earth will experience three degrees of temperature rise. From a mere fad, green technology has...more
Many growing IT companies find that working with subcontractors a great way to keep clients happy and overhead in check. Without having to bring on a full-time employee, IT companies can hire independent contractors on a per-project basis, extending...more
Credit cards were introduced in America in the 1920s, when gasoline companies began issuing cards to their customers, limited solely to their gasoline purchases. Shortly after, large retail stores like Macys and Gimbles began issuing credit cards to...more
Suppliers selling anything merchandise online do not need to maintain a storefront. They do not have to pay the large electricity bills incurred by display lighting. They do not have to pay the salaries of the sales persons. This saves them a...more