Tag Archive | tips in business

Want to Know How to Succeed at Age 20

enterpreneurSome people at this age the first time to find out what it means to be an adult . Are you still a student , recent graduate , living alone , or both parents are still together , you can listen to some advice from other people who already know how to survive in the real world .

In the survey , as quoted from Businessinsider Quora , users are asked to answer the question , ” What can I do at the age of 20 yrs that will benefit my future ? ”

The survey summarizes some of the best responses . Here are some things to do so that your 20yr old ” bright ” .

1 . Learning set time

Without the structure of school , it’s up to you , begin to schedule your own day -to-day . Because , at the early age of 20 years you will be so busy starting a career , build a romantic life , on the other hand still wanted to have time for yourself . You have to find a way to prioritize and cope with the demands of competition . Agarwal suggest you experiment with different approaches , until you find yourself the art of time management .

2 . Subtract engagement with smartphone

Current generation grew up with social media . Some of them may be too attached to their smartphones . Get a grip , someone likes your photo on Facebook is not as important as what is happening around . If you live in the real world around , then you could actually learn something , listen better , and can contribute to a conversation .

3 . Perform journey as much as you can

Agarwal said , at the age of 20 yrs you are mature enough to navigate the outside world alone . You also mature enough to learn from others . Take a trip will introduce you to different cultures , and it will open your mind and way of thinking . In addition to their self-confidence and social skills , you will make memories that will last you a lifetime .

4 . Chasing passion, not money

At the early age of 20 yrs , you may not have a spouse , children , and this bill was . Free yourself from the desire to reap huge salaries . Quoting Steve Jobs , Agarwal said , ” If you do not like something , you will not go the extra mile , work the extra weekend , challenge the status q.u.o ” .

5 . Knowing yourself

Use this period to find out what really drives you , what really makes you scared , strengths , weaknesses too . Understanding yourself will help you give you peace of mind , and set you up for success .

6 Steps to Create a Plan For Your Business

businessplanMaybe for many entrepreneurs , a business plan or commonly known as a business plan is not an absolute requirement in running a successful business . However , if traced further role in the development of a business plan to a venture turned out to be vital . A business plan is a crucial factor in the successful establishment of a business and is often regarded as an integral part of determining the feasibility of providing credit funds .

The business plan is usually in the form of a written document that clearly illustrate and analyze your business , and provide detailed information about the purpose of short -term and long-term strategies to achieve goals , and strengths and weaknesses of the company with respect to the targeted market . An ideal business plan will provide better opportunities to help locate potential investors and an effective guide that you can use to monitor the progress of the business in the future . Here are six easy steps in preparing a good business plan for your business :

Step 1

Describe the products or services you offer . This section should be used to discuss with intensive product or service you are selling , and explain what advantages can be obtained by consumers . In addition , specify how and where your product will be made . If you run a retail business , make sure that you provide details about the location and demographics of the area businesses . In addition , you must include information about the competition you face , and also mentioned the constraints and challenges that must be overcome before they are able to reach the market .

Step 2

Your market analysis in this section . Include information about customer needs , how do you wish to reach customers , how do you plan to advertise products or services you offer , and how much money you want to spend big to affirm and growth potential of the market you are working on . You must also include a detailed plan that shows how you will distribute the goods to the consumer.

Step 3

Define your competition and explain the benefits of your efforts have competitors in the targeted market niche . This section is important for investors and you should use it as a means to highlight the strengths of your business and your competitors weaknesses . However , it is also important to be realistic and honest with yourself and those who will be the source of your funds .

Step 4

Draw the structure , management , and strategy of your company’s operations . Here , give an explanation of manufacturing , purchasing , staffing , and the acquisition of necessary equipment and facilities for your business . You should include information on how you will build relationships with vendors and accentuate the experience of your management team . Investors want to know whether your management team understands the market and the product , as well as having the necessary experience to start a business and run it well .

Step 5

Provide accurate financial information and detailed for use by potential investors . You are required to provide prospective financial information ( the future ) and historical ( past) . It also includes financial statements and statements of cash each year for the effort you have to walk ( usually three to five years ) and you have to explain directly the expectations and revenue expected in the future . Guarantees are available to be registered because it could be a factor when you are trying to get funding .

Step 6

Create a persuasive executive summary . It can be added at the beginning of the business plan , but can be made at the end of writing a business plan . The executive summary should include information regarding the company’s history , outline your goals , descriptions of products or services , information about the market and the estimated growth , a summary of your management team , and a strong statement about the strength of the business and why you want it managed . This executive summary is a summary of most of your business plan . The difference, it must be written so that readers ( investors ) to read more to complete. Limit the executive summary into one or two pages .

The importance of the Business Blueprint

blueprint businessDo you run a business that is running in place ? The reason could be many factors , one of which lack a clear business blueprint and carefully documented .

It may be that your business has been running yearly , even without the need to write and document the work plan . But when it finds problems , ranging from cash flow traffic, unproductive employees , even sagging sales , this is a sign you need to improve management .

Business blueprint should be clearly written and directed . Business blueprint described as a pyramid starting from the top with the vision and mission , goals, and action plans at the very bottom pyramid . The sides are pyramid personality ( character ) , cultural , and behavioral ( mindset ) that influence the success of a business.

All the elements in this pyramid should be written . With clearly written rules , the team had a clear direction according to the position and responsibilities. Vision becomes a liability in formulating a business owner , then the mission of the authority and responsibilities of the CEO or president level , then the purpose of the business will be run by the direction of the manager , well-organized work plan and then run the team . As an individual in a business scheme , the employee performs with the mindset , character and work culture in tune written according to the rules in force in the company .

Here are some things that must be present in the blueprint of your business :

* Vision
* Mission
* Goals
* The work plan
* Standard Operating Procedure
* Description of work
* Rule
* Organizations
* Cash flow
* Strategies

So , if your business never bring maximum results , be sure to reassemble all the rules work , and make sure it is written to be a guide to all workers . Even the work culture must be written to motivate themselves , both the owner of the business and its employees .

Review the Business Plan For The Future

business planLike the ever-changing business from time to time , marketing plan and business plan should also keep abreast of change . 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 .

These are the five important moments that should be utilized as a golden opportunity to do a review of your entire business plan for the period ahead.

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 ‘v e achieved or not. If you recently make changes to the structure of your business, be sure to add it to your plan.

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.

Changing market

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.

The addition of product lines

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.

It has been the achievement of objectives

Your business plan may include achievement of revenue goals 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.

Saying No is Part of Success

bussines solutionsThe success is often built on a reflexive habit of saying ” yes” to the opportunities that come to you. However, when you have finally earned the opportunity, you have to put a lot of opportunities that present itself or you will feel overwhelmed, unable to handle commitment that you have to meet and work with very effectively as expected.

Here are the steps that can help you to be able to say “no” to opportunities that come your way more easily :

Stop for a moment. feelings of anxiety that comes with the saying could not culminate into an emotional state that makes us disturbed in the process of information processing and consideration of various options. Stop for a moment, or at least slow down the rhythm of work or making a decision for a while to make us think more clearly and allow to pursue again with a higher power, and make choices that benefit us. Not only choose the options that relieve our anxiety for a while just because we felt stupid not welcome and arrested immediately.

Practice saying no. Saying not a proper way and choose when to reject it requires an exercise and time. Rejecting opportunities come, which can not deliver the maximum, the same as other interpersonal skills. The first time feels a bit awkward to do it and as time goes by, you will feel the positive impact and is more accustomed to. We would be more perfect to get used to.

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.