Archive | December 2013

When is Reviewing Your Business Plan

BusinessplansLike the ever-changing business from time to time, marketing plan and business plan we should also keep abreast of changing times. Business objectives of your company should ideally be revised periodically as the superior competitor is also growing, maps are continually changing business and your product line continues to grow.

5 This is an important moment that should be utilized as an opportunity to conduct a review of the entire business plan or your business plan for the next period.

 

1 . The new financial period

Whether it’s a new month, a new quarterly period, or new fiscal year, provide a little bit of time to review the plans that you have set up to find out if you ‘ve achieved or not. If you recently make changes to the structure of your business, be sure to add it to your plan.

 2 . Changes in financial need

Maybe this year you decide that you want to expand the business to accommodate the increase in incoming requests. You will need financial assistance from someone either a banker, investor, or shareholders. Now is the best time to update your marketing plan and your business plan so that both can accurately reflect your current position.

3 . Market is changing

If you are in an industry that is highly dynamic and constantly fluctuate like oil and gas, you have to make changes more often. Make sure your business plan is also adjusted to the changes.

4 . Added line of products

When you add a product, then Ana had to make changes or implement new technologies to save on the budget, this will more or less affect your future plans.

5 . Has been the achievement of objectives

Your business plan may include achievement of revenue goals of $ 1 million and you have exceeded this target last period . Decide what your goals for the future and revision of the plan by consulting the the purpose.

Observing the Financial Statements

financial reportA financial statement is also referred to as the annual report. This report presents the financial status of the company during the period of obstruction certain financial, which typically includes one full year. This report contains detailed graphs and data. For the layman, especially who lack the knowledge and background experience to read the annual financial statements, this report also relatively difficult to read and understand. The information presented in this report should reflect the fact and figures and graphs should show an accurate picture regarding the company’s financial status.

The steps :

1 . Read them carefully as possible the first few pages that exist in the financial statements. There are several pages of the CEO of the company that will discuss the major financial issues facing the company and may also give a positive response on the matter. CEO may remind the reader about the company ‘s mission statement, purpose and dedication to the customer as well as the states of all the positive things about the company and only mention the bad news.

2 . Read all parts of the page that contains the report after the CEO statement that greets the customers. This information typically includes the promotion of new products and services and to remind customers that the company is always working with them.

3 . Observe the graphs and charts that show the company’s financial status. Many of the charts are intended to be read by investors and shareholders not customers who want to learn more about the company. To be able to understand the financial statements of the company, try to find terms like ” asset ” and ” debt “, ” net worth ” ,” long-term assets and short-term ” and ” income statement “.

4 . See below section to determine what assets are owned by the company.
Under the Debt section, you can find the company assumed liabilities. Reduce overall debt of the amount of total assets in order to know whether the company is in a state of good or bad. If obligations or debt held more than the number of assets, it can be concluded that the company has more debt than assets. The results of this reduction is also called net worth.

5 . Analysis of short-term assets and long-term company. Long-term assets are thinner likely to fluctuate rather than short-term assets. Determine how much you can get from the company’s short-term assets and long-term.

6 . Add all of the assets of the company and for the amount of the total debt amount.
It will show the financial status of the company in terms of profits. For a healthy company, that number should double the amount of debt the company.

7 . Observe the income statement to determine how the company spends money owned. It will show where the company’s capital is spent and for what purpose the amount spent. For those who invest in the company, the income statement will provide information about the details of corporate spending.

Reduce the Company Budget

budgetingAll forms of Fund is the lifeblood of all businesses. Without Fund, you can not grow the business and will be easier to get more fund if you manage to get it in the past. Part of a capital gain is to be efficient with operational expenses. This is particularly difficult in times of crisis. Leaders called for budget savings to adjust to the drop in demand. Once you receive the support of upper management regarding budget cuts, you can get started. The challenge is to determine what should be reduced.

For that, there are several steps that can be taken :

  1. Identify fixed costs in the budget that will be overhauled. Cost remains the types of costs that do not vary as the cost of rent and salaries that do not decrease if a decline in customer demand. Try to negotiate the return of the fixed costs that can be reduced or find other ways to keep costs this could be varied ( reduced ).
  2. Identify variable costs are less useful in the budget. Not all variable costs required earnest. For example, inventory is an expense that should be there but reimbursement for tuition / education does not.
  3. Establish a budget proposal to be given to management. The proposal must be specifically discussed the costs of anything that could be reduced without affecting the operation or quality of business performance negatively. Specify the length of time the cost reduction will be applied and the effect of this reduction to net income in the annual and quarterly period.
  4. Show your findings to the manager to be approved. It is very difficult to reduce the budget without management involvement.
  5. Subtract the budget and give the responsibility to the manager to reduce the budget by providing reports per month difference between the actual number and amount of the new budget. Be sure to notify changes to management.

Innovation Secrets of Steve Jobs

stevejobsYou must have heard of products such as the Mac, iPod, or iPhone. These products are the company’s production of Apple Inc, a company influential in the development of the technology world. Surely Apple’s success is not achieved instantaneously. Behind it lies the figure of Steve Jobs, founder of Apple who was known to be innovative. Here are the secrets of success that Steve Jobs will be shared with you :

Love what we do

Wear a different point of view in understanding and careers in which we live. The majority of people just go with the flow around them without understanding what they want their heart and intuition. Often this is done either consciously or unconsciously. Stop and think about what your heart and intuition we actually want because both are almost always right. Have a great goal that is meaningful but simple can be applied through the achievement of the objectives smaller every day.

Print achievements

Just like an organization or company , any individual should ideally also have a vision to live their lives. By having a vision or dream, we can clearly find out what we want to go and make it happen, not only in the scope of the profession but also in general. Having a clear vision can also provide an opportunity for us to share and exchange ideas and enrich the vision which in turn will allow us to connect and collaborate with as many other individuals or groups who have a common vision. In the case of Steve Jobs, he clearly emphasized his vision of innovation that can change the world. Passion is what drives us to not only follow the conventional life cycle.

Destroy way of thinking

Revolution the way we think of now. Innovation without creativity as escorts is nonsense. For Jobs, creativity is connecting basically separate entities in a way that has not been used other people. Jobs upholds the importance of experience in order to understand human experience with more depth.

Sell dreams

Go farther than they should. In this case, we should be able to touch the ‘ point ‘ of the most sensitive consumer owned, something deeper and more essential. When consumers feel very understood and spoiled, that’s when we can be said to understand them not as a customer but a collection of individuals who store, dreams, hopes, and ideals. What’s done so far is Jobs and his staff made ​​a series of products created by the desire to help’ consumers’ dreams, hopes, and ideals.

Prioritizing simplicity

A person can not be said to be a genius if he actually complicate things more simple because the main advantages of a genius is to simplify complexity so it can be more understandable to others. The philosophy underlying these various designs of Apple products. Jobs was exalts simplicity by stating, ” Simplicity is the ultimate sophistication”. By getting rid of other things that are less important, we allow things that are much more important to be surfaced.

Have experience ” crazy “

Apply different point of view when looking at what the other person will be experienced when using the product or service. Steve Jobs has made Apple become a new standard in the field of customer service. Apple Store scores to be the greatest retailer by introducing simple innovations which can be applied by all businesses in the world that existed a deep and lasting relationship with the users of our products or services. Use analogies or metaphors to think about the solution of a problem. By finding similarities between two things that are not the same, our brain is stimulated to create relationships that bridge the two.

Convey ideas with impressive

Think differently about our story. The idea is great but if we are less good at conveying its essence may not be delivered or even misunderstood. And consequently, people will not notice much less impressed by the idea we do not care about anything as bright as the idea. Expertise speak for Steve Jobs is no longer about how to launch a product and achieve the highest sales figures, but also a matter of changing something formally into an amazing art form. And make sure the story that we use to build the brand always consistent from one aspect to the other aspects, such as advertising, marketing materials, social media, presentations, websites, and so on.

Eight “P” to Preferred Customer

8pThe customer is king. A saying is not wrong. Because they can continue to live and because they keep our business running. Therefore, it’s good business people know what is important and desired by the customer. Here are 8 things that customers want

1. Product

What will you sell ? What products or services ? Is it unique ? What’s the difference with a competitor’s product ? If your product is the same as an existing product and no privileges, people find it difficult to get to know you or want to move away from the previous spot.

2. Price

What is the price offered ? Know, customers will surely find a cheaper price if the service, quality, and products that offer the same. ” The price difference is important. If you sell a product for $ 10 and a competitor sells for $ 9.9 , will definitely affect, But do not last so let happen continuous price competition.”

3. Place

Where and what channels are used ? The strategic location and ease of access will become an important and enjoyable for customers.

4. Promotion

Find out what you think will make customers eager to buy your goods ? Promotional gimmick would be a fun thing for the customer. Customers would be able to calculate the value of the price he get it remove.

5. Process

Like what you care ? For example, if you are the owner of a salon that provides services cream bath are generally clear sequence, of the customers who come to your place also expect the process clear and satisfactory service, right? Customers definitely get annoyed if it turns out the order was falling apart and even headache.

6. People

Who will take care of me as a customer ? Imagine yourself as a customer at a salon. Would you not expect that the people who take care of you is a person who is competent, friendly, and give priority to comfort you ? Just like that other customers also expect the services will he get.

7. Pace

Time is important. Especially when it is today . Customers need fast service. Who wants to wait long to be served ? Meet the needs of customers in a short time.

8. Proof

” Customers are walking advertisements “. Do not believe ? Try to remember, if you have had an experience of the service or product that is fun and good, would not you would recommend to others ? Customers need proof. When they were satisfied, he will bring other people into that place.

Right Management, The Key to Business Success Women

business womenThe more creative women who start and run his own business. This broke the notion that women are fragile creatures, and unable to compete in the business world is still dominated by men. However, there are still many people – including women themselves – assume that the difficult business run by women, especially women who are already married.

Difficult indeed, divide their time between business and family. But, with proper management, they can keep it running well without disturbing each other. Because the truth is, there are many basic character of women who actually could be a key factor in the success of a business. Call it patience, emotional maturity, and ability to communicate.

Running your own business venture, women can more easily set the time, rather than when he has to work with others. The better the system of a business, the less time required by the owner to manage.

Another plus is the business itself, many types of businesses that can be done at home. A woman who has been married or have children though, can still run their business. By doing business, a housewife can actualize themselves, develop creativity, so as not solely confined to the affairs of the household throughout the day. This will create a more open mind.

One more, with business, women can support their families. He became more self-sufficient, so have a bargaining position higher in the presence of her husband.