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Tag: Business planning

  • How to Create A Business Plan Outline

    How to Create A Business Plan Outline

    A business plan represents the crucial foundation of your company. Regardless of how big or small this company is going to be, you need to put together some sort of plan for your future.

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    In the end, you want to create a roadmap that will accomplish two things:

    1.It’s going to be specific enough to help you define what needs to be done over the next year, two years, or even 3-5 years.
    2.It’s going to be open-ended enough to help you make adjustments no one could have accounted for earlier on.

    Establishing a plan which incorporates both of these things is not impossible, or even that difficult. Nonetheless, it is still something that needs to happen, before you can move on to other aspects of establishing and launching your business.

    Creating A Viable Business Plan Outline
    Understand at this point, you’re simply crafting an outline. It needs to have some measure of detail, but it doesn’t have to account for every single little thing. You want to have something that will make it easy to define the next few steps.

    A good business plan outline is going to offer the following:

    1. Executive summary: This element is going to summarize the plan as a whole.Company description: With this, you’re going to not only focus on what your company is going to do, but how your company is different from similar entities.
    2. Market analysis: Research your industry. This should include your marketing and your competitors.
    3. Organization/management: This is going to come down to discovering the optimal organization and management structures for your company.
    4. Service/product line: This is going to describe your product or products. What are the benefits? How about the lifecycle?
    5. Marketing/sales: Sales strategies and marketing plans are going to be discussed at this point.
    6. Funding: How much are you going to need? How is the money going to be spent? Transparency is key in this arena.
    7. Financial projections: If you do need funding, projections are going to be important.
    8. Appendix: Resumes, permits, and leases are just a few things one would include in an appendix, if this needs to be part of your business plan.

    Different businesses are going to utilize the above facets differently. Some businesses will be able to disregard some of those facets entirely. This is something you will discover for yourself, over the course of putting together a plan for your business.

  • 5 Considerations For Construction Tenders

    5 Considerations For Construction Tenders

    The construction industry is a vast and ever-growing field. As such, it can be challenging to know where to start when looking for work in the industry. If you’re considering tendering for a construction job, there are a few things you need to take into account first. This blog post will discuss five of the most important factors to consider before submitting your bid!

    1) Your Experience

    When it comes to bidding for a construction job, your experience is one of the most important factors that employers will consider. If you don’t have any experience in the field, your chances of being selected for the job are slim. That’s not to say it’s impossible; there are many ways to gain experience in the construction industry, such as working as an apprentice or volunteering with a construction company. However, if you do have some experience under your belt, make sure to highlight this in your bid!

    2) The Type Of Job

    The type of job you’re bidding for will also significantly impact your chances of being selected. For example, if you’re bidding for a small, local job, you’re more likely to be chosen than if you’re bidding for a large, international project. This is because employers often prefer to hire contractors who are familiar with the area and the type of work required. Therefore, it is essential to highlight the reasons why you would be the perfect candidate for the job over a competitor.

    3) The Financial Requirements

    When it comes to construction jobs, financing is always a significant concern. Make sure you’re familiar with the financing requirements of the job you’re bidding for, as well as the type of commercial surety bond that will be required. Commercial surety bonds are a common requirement in construction contracts, so it’s essential to have a good understanding of how they work before submitting your bid.

    4) The Bid Itself

    Of course, the bid itself is also a crucial factor to consider. Make sure you submit a well-written and professional bid, as this will increase your chances of being selected for the job. Remember to include all the relevant information about your company and your experience in the construction industry. Additionally, be sure to have a detailed project plan and schedule. This will show the client that you are organized and capable of completing the job on time. Finally, don’t forget to include a price estimate. Be realistic with your pricing, as clients are often more willing to select a company that offers a fair price.

    5) The Company’s Credit Rating

    It is vital to do your due diligence before tendering for a construction job. One of the most important things to research is the company’s credit rating you are considering working for. A poor credit rating could mean that the company is in financial trouble and may not be able to pay its workers on time or at all. Also, make sure to ask the potential employer about their payment terms; you don’t want to start work only to find out that you won’t be getting paid on time (or at all). It’s also a good idea to get written confirmation of these terms, so there are no misunderstandings later on.

    Conclusion

    Considering these five factors before submitting your bid will increase your chances of being selected for the job. However, it’s important to remember that there is no guarantee of success. The construction industry is a competitive field, and many qualified contractors are out there competing for the same jobs.

  • Start A CBD Business In 3 Steps

    Start A CBD Business In 3 Steps

    CBD is the latest trend and craze in the health industry. It’s a compound from the cannabis plant that has a range of claims made about it. Some say it can help with chronic pain, others suggest it relaxes you and makes it easier to sleep every night. What’s more, CBD is legal in most places, prompting a massive increase in businesses selling CBD products. As more research is done into this compound, it seems as though CBD businesses are going to grow in popularity. So, if you want to start one, how should you go about it?

    Find a reliable supplier

    Naturally, you need to find suppliers to help you make your CBD products. This will typically mean you need to find a legal cannabis supplier that can give you the raw ingredients to be extracted from the plant. It’s important that you work with legitimate high-quality suppliers as people care about where the CBD comes from. They want to ensure they’re getting quality stuff or they’ll look elsewhere. 

    Choose what products to make

    In the world of CBD, there are countless products you can make and sell to the market. One of the most common is CBD oil, which can be rubbed on people or added to food. You also have CBD gummies, creams, and capsules – along with plenty of other products. 

    Deciding what to produce and sell is critical as it determines things you might need to purchase. For instance, you’d probably need some gummy manufacturing equipment if you were to sell CBD gummies to customers. Most CBD businesses will end up with a selection of products to bring diversity to their customers. However, a smart move is to only offer a couple of products at the beginning. This gives you room to introduce new products later down the line, generating more interest. 

    Focus on marketing

    The third step is to focus on how you market your business. With CBD, it’s important that you don’t make any false claims. You can’t say things like it absolutely will cure your chronic pain. You have to say it has been linked to easing chronic pain or may help with it. A smart marketing move is to find as much research as you can to back up anything you say. So, if you advertise your CBD products as good ways to ease pain, ensure people can see where the claim comes from. 

    With a product like CBD – which has strong ties to cannabis – it’s all about building trust and legitimacy with the customer. You need to show people that this is a trusted product, it’s completely legal, and there is some research that backs up a lot of the claims. When people trust your products, they’re more likely to buy from you. 

    These three steps are crucial for helping you start your CBD business. Clearly, you also have to follow the usual steps involved in creating a startup – like finding your funding, registering your business, and so on. If you do decide to go down this route, you are definitely benefiting from entering a growing industry. 


  • How Leads Are Generated

    How Leads Are Generated

    You probably already know how important sales leads are if you’re the owner of a business. If you don’t, then you should. Leads are the lifeblood of every business that currently exists or has ever existed. They were important to businesses hundreds of years ago. They are important to businesses today. They will remain important to businesses in the future. As long as someone has something that they wish to sell to someone else, a lead on the identity of that someone else is vitally important. Therefore, because leads are important, how to generate leads is important, as well.

    There are a number of different ways to generate leads. The common thread among all of them is the attempt to attract the interest of an individual in a particular product of service by appealing to his or her curiosity or needs. If an individual becomes curious about a product or service, then they have a natural desire to satisfy that curiosity. One of the easiest ways to do this is by trying the product or service for themselves. Alternatively, if an individual has a pressing need that a product or service can meet, then by purchasing that product or service the need will be eliminated. Therefore, leads are generated by making people curious about what you do or by showing them that you can meet their needs in an economical and efficient manner.

    Also, people are much more likely to satisfy their curiosity, or meet their needs, when they trust the person or business who is selling the product or service they are interested in. The value of trust in lead generation cannot be emphasized enough. If you cannot build a trust relationship with your potential customers then they will remain just that – potential customers. Window shoppers, browsers and potential customers are not money in the bank or extra numbers on your bottom line unless, and until, you engage them.

    The only way to engage cold leads is by warming them to you, you product or your service. You warm them by appealing to their psychological need to be liked, to be important and to be number one. Excellent customer service does just this. In fact, top notch customer service is nothing more than a business tactic designed to convert a cold lead to a warm lead and, finally into a customer and, hopefully, a repeat customer.

  • Mindset Change To Grow Your Business 

    Mindset Change To Grow Your Business 

    Having the appropriate mindset is a critical component of running a successful company. It’s difficult to be productive if you’re not in the appropriate frame of mind. You may not know it, but your thinking determines the success of your company. When you’re not in the appropriate frame of mind, you’re not very productive. That is why successful individuals are so determined – they are completely devoted to becoming successful.But, with the obstacles that starting a business will bring, it’s difficult to remain in the correct frame of mind. It’s natural to get disheartened by negativity, particularly when the business environment is turbulent. What matters, though, is your will to persevere in the face of adversity. Here are some ideas on how to change your mindset to grow your business.

    Believe That You Can

    There’s a reason why we’re taught to dream big as children. If you believe in yourself, you can achieve anything and become anything you want to be. It may seem corny, but it’s true. It could take years to develop a great organization, and you will experience many problems and obstacles along the way, but you will eventually get there. All of the problems you experience now will serve as stepping stones to your future success.

    Think Ahead

    Thinking ahead is the most efficient strategy to establish a resilient company. Always consider the larger picture and look beyond the present. What do you want to be in a few years? What will the company look like three months from today’s decision?

    Yes, being present is crucial, but you also need to think three steps ahead. Have a goal of where you want to be in a few years, what you want to do to get there, and start planning to make your plan a reality. Maybe this involves finding help from Louis Lehot: Lawyer, to ensure your business really gets off the ground or working out when the right time to take the next step will actually be. 

    Make Things Happen

    You can’t rely on blind luck to make things happen in these uncertain times. So, what are your options? Make your own luck, look for alternative money-making opportunities, and broaden your network since all of these things might lead to other business prospects. Being proactive is critical, particularly given the current state of many companies. Nobody will make things happen for you if you don’t.

    Be Willing To Grow

    You are never too educated or accomplished to learn new things. Growth is a necessary component of establishing a successful company. Accepting that you don’t know everything helps in the development of a better company. You’ll be motivated to work harder and think of new approaches to tackle difficulties if you acknowledge that there is definitely room for improvement in your own learnings and in your business too. 

    Failure Is Part Of The Journey

    Everyone is frightened of failure, but how can you know success if you haven’t failed? Failing is an important element of success since it teaches you how to manage your company in the best way imaginable. Challenges, errors, barriers – whatever you want to call them – are unavoidable. What matters is the lesson we take away from each obstacle and how we rise above every circumstance. Don’t be scared to fail; instead, use it to learn and grow as an entrepreneur.

  • Immersive VR Technology for Business

    Immersive VR Technology for Business

    Immersive VR technology for business is an emerging science because of its distinct safety advantage. Currently, VR tours help insulate against Covid-19 restrictions since you can arrange virtual showrooms, tours, and meetings. However, 360-degree technology makes navigating unsafe areas, such as mine shafts possible.

    Helping Clients

    As a prime example, the Covid-19 pandemic means reduced physicality interaction. For many businesses, this is disastrous. But a professional team will develop a VR tour for your project on-site or in real-time (Oculus Go). A project can then access a project via necessary software and a VR headset, with all essential safety precautions taken care of. Additionally, VR technology eliminates the need for a client to be present. So you can go ahead and show a property, manage a site, or even clear quick estate sales remotely and safely.

    How it Works

    You can develop almost anything with VR and 360-degree cameras. However, in specific industries, such as retail, leisure, and property development, VR can be beneficial. The images are stitched together after being taken. After stitching, they are applied to the interior of a sphere. When wearing a headset, the photosphere appears as a 3D environment around you. Using a headset, 360-degree photography allows you to virtually step inside a scene and view it from all angles.

    Benefits to Business

    With immersive technology, you can show clients an exact project without taking risks. But risk elimination also extends beyond prospective clients into an achievable solution where health and safety is a genuine concern: 

    • Access to unsafe areas
    • Immersive updates of construction zones
    • Drone imagery from hazardous areas
    • Dangerous engineering or construction sites 
    • 3D CGI architectural models
    • View surrounding areas

    VR systems allow you to inspect previously unreachable areas like never before. A multidisciplinary approach, such as drones, VR stitching, and CGI will enable you to develop an entirely realistic 3D representation of real-world locations for viewing in VR.

    What VR Cannot Do

    Modern VR technology is currently in its infancy, and therefore holds some limitations. However, popular headsets such as Oculus, Vive, and even PSVR offer an immersive representation of almost any location. But VR technology still has a long way to go. For example, VR live streaming is a brand concept that only Oculus Go can perform. Additionally, the computing and rendering power required makes full 4K and 8K VR with current headsets impossible. 

    What to Expect in the Future

    The recently announced PSVR2 specs are promising, making it the most potent headset available when Sony finally releases it. However, it won’t be long before other manufacturers improve their models also. Therefore, upcoming VR technology will significantly enhance resolution, field-of-view, and live streaming capability. In addition, dynamic 4K, 180-degree vision, and real-time feedback are not beyond possibility at this point. These combined would make an impressive project for clients and enhance visibility when viewing datasets in areas impossible for people to reach safely.

  • How to Keep Your Business Running Through Anything

    How to Keep Your Business Running Through Anything

    Do you think that your business could survive anything? There are many things that can make it difficult for your business to keep going, whether you have to stop operating for a day or close your business for good. It’s hard to be prepared for everything, but there are some common problems that could threaten the continuation of your business, which you could prepare for. You could find that your business is affected by a bad storm, an economic downturn, or a new competitor on the market. But if you’re aware of these possibilities, you can put protections in place to help your business weather the storm.

    To make your business tougher and be prepared for anything that might come your way, consider the following things.

    Focus on High Paying Clients

    High paying clients are those who are willing to pay you double, triple or even 50 times more than average customers. In this course you will learn what it takes to close high paying clients. One of the most important things to do is change your belief and this is what you will progress on after completing this course.

    https://empowerbusinessclub.com/high-paying-clients/

    Have a Plan for Natural Disasters and Weather Events

    One thing that you can’t prevent is natural disasters or any significant weather events. From hurricanes and blizzards to wildfires and earthquakes, there’s nothing you can do to stop outside forces from affecting your business. However, even if these types of events can have an effect on your business, they don’t have to blindside you. If your business is prepared for them, you can take action quickly if something like this takes place. Create a plan for how you’re going to respond to these types of events and what you need to protect your business.

    Prepare for Power Cuts

    Power cuts are a huge annoyance and can sometimes be dangerous too. Some areas experience them more often than others, but it’s always important to be prepared for them. Even when there’s a power cut, you can keep your business going with the right backup power supply. A backup generator is a common solution to keep your critical functions going in a power cut. It’s also smart to look into products like the voltage stabilisers from GFF Power. These help to minimise operational loss if there is a power failure so that you can protect your business.

    Take Care of Your Employees

    Your employees are one of the most important parts of your business. Without them, you wouldn’t be able to keep your business running. During difficult times, the last thing you would want would be for your employees to jump ship and go elsewhere. That’s why it’s so important to take care of them, whether things are going well for your business or not. If you create loyal employees, they will be there for you when you need them most because you are there for them. Treating your employees well can include paying them well, offering them good benefits, assisting in their continued development, and creating a supportive work culture.

    Create Loyal Customers

    It’s not just your employees who you want to be loyal to your company. It’s also important for your customers to feel loyalty to your brand. If your customers feel loyal to you, they’re more likely to stick with you during stormy weather or even if a new competitor brand comes on the scene. Just like creating loyal employees, you need to treat your customers well if you want to create loyal customers. Pay attention to their wants and needs and focus on customer satisfaction if you want your customers to keep coming back. https://empowerbusinessclub.com/keyclient

    Have Business Savings

    If you have savings to protect you in your personal life, it makes sense that your business should have savings too. Business savings can help to protect you when your business has financial difficulties, whether you need to pay your employees, cover payments to suppliers, or make essential repairs to your business premises. When you have business savings, it also helps you to avoid borrowing money to pay for essential things. Not having to get into any unnecessary debt will help to protect your business so that you can keep going for longer.

    Be Prepared to Adapt

    Flexibility is an important quality for any business. Being able to pivot and adapt can be the thing that keeps your business going, as many have learned during the COVID-19 pandemic. If you are able to change your business to meet demand, you can keep going and perhaps even find greater success doing something different. Of course, it can be important to adapt in a way that makes sense for your brand, especially if you’re planning to return to your previous activities or business model later.

    https://empowerbusinessclub.com/buying-selling-web-businesses/

    You can keep your business going through a variety of circumstances if you prepare. Identify the most likely factors to affect your business so that you can plan for the future.

  • Establishing Better Client/Support Communication As A Firm

    Establishing Better Client/Support Communication As A Firm

    The form and format by which you communicate with your clients can make a big difference in terms of how those relationships play out. It might be that with good communication, a one-time client can become a recurring client loyal to your firm for life. Or, it can take a well-meaning client and have them move to another firm, not for a better deal, but to simply have their account taken care of with more transparency and care.

    Communication is also the greatest bedrock for ensuring the quality of your work is properly established and developed. For instance, a graphic design company that is unable to ask for proper clarification regarding a client brief may not provide the content said client was looking for in the first place. Is it up to the client or the company to attain that brief? No matter where you fall on that, it’s true that miscommunication at either end will lead to a soured business relationship.

    In this post, then, we hope to help you establish better client/support communication as a firm. Here are a few methods of doing that:

    Web Chat Utilities

    Web chat utilities can make a tremendous difference in providing a speedy response, as well as filtering a client through a few FAQ options they select from to properly categorize the issue. Rudimentary web chat apps can allow for the taking of personal information so you can respond later on, as well as designating the right support staff to the ticket. This way, you can provide support without the intensity of personal call center provisions.

    Virtual Addresses

    Virtual address options are a great way of cementing your correspondence in one place, and is especially important for firms trying to enhance security, ensure their small stature is still seen as trustworthy, and allows for a proper maintenance of such a mailbox and registration address so that the firm can function on all cylinders, especially if the business is run from a home or humble workshop. A solution like this can also allow for a competent means of providing that trustworthy support image without relying on a PO Box or other alternative. It’s not hard, then, to see why this is a popular effort.

    Excellent FAQ’s & User Support

    An excellent FAQ option can answer a question within seconds, helping a potential customer avoid having to contact you to clear something up. FAQ’s can also be referred to by web chat AI before they help process the support request. This can save both parties time, which is often the best way to consider structuring client/business relationships, as the least unnecessary talk and the more you can begin to provide the essential outcomes expected of, the more favorably your client will look to your firm, and it’s not hard to see why that is in this case.

    With this advice, you’re certain to establish better client/support communication as a firm.

    Mass Texting Service

    Finally, a great way to improve communication is by utilizing a mass texting service. Mass texting services allow you to send text messages and updates at scale while tracking customer engagement metrics. This can be used for providing important reminders to clients regarding their account status, deadlines they’re expected to meet, client surveys that need filling out, or any other form of an update that can help keep them better informed without needing additional contact beyond the initial contract agreement. It also provides an easier way of updating those who are not tech-savvy and may struggle with web chat or email notifications.

  • 4 Questions To Ask Yourself Before Opening A Cannabis Dispensary

    4 Questions To Ask Yourself Before Opening A Cannabis Dispensary

    The legalization of cannabis in different states across the US and Canada has seen a boom in the opening of marijuana dispensaries. This allows consumers to purchase their supplies from reputable outlets legally and peruse their options before buying.

    The growth rate of the cannabis market from 2019 is 21%, and sales of legal marijuana are fast catching up to illicit sales with annual revenue of $23 billion. It makes sense to consider moving into this profitable market to capitalize on the boom in sales and the industry’s growth.

    If this is something you want to do, ask yourself these questions before committing.

    Are you well informed?

    What exactly do you know about cannabis, its properties, and why users consume this product? If you are of the “all drugs are bad” mindset, then honestly, this isn’t the industry for you. But suppose you have done your research or are a user yourself, and you know some background on the plant and its properties enough to support your customers and make the right product choices. In that case, you will automatically be in a better position than someone in it to make a quick buck.

    Where can you operate?

    Legally, there are many different rules and regulations regarding who and where you can sell cannabis. You must check out your state’s policy on legal marijuana and their laws regarding this type of store. For example, while dispensaries have been operating legally in Canada, only recently did the law change to allow the stores to offer delivery. Previously it was a collection only. These nuances and limitations can affect your business and location, so make sure you know the laws before applying for your license and registration.

    What business model should you choose?

    When people think of the cannabis sector, they usually think of dispensaries. But a cannabis dispensary is just one of the many businesses in the market.

    It’s crucial to assess your personal company experience before deciding on a business plan. Assume you have a solid supply chain background. If you have experience in agriculture, your talents may be best suited to cultivate the plant as a grower.

    In addition to packaging, real estate and professional services such as insurance and litigation offer additional potential for innovation.

    Do you have the funds you need?

    Funding this venture requires a hefty financial outlay. From growing or purchasing your own stock, looking for premises and employees, and obtaining the relevant licenses, there is a big financial responsibility associated with setting up your own cannabis store.

    Then you need to think about how you will run a profit and how quickly you can expect to start making money. Don’t forget, anything you borrow needs to be repaid as well as your operating costs and wages. Know your options regarding initiating Cannabis Debt Collection procedures, recovering from losses due to external sources, such as natural disasters, fires, thefts, etc., and what type of contingency fund you require to support you during low sales periods.


  • Marketing Strategies You Should Keep On Using

    Marketing Strategies You Should Keep On Using

    Marketing strategies are changing over time, and businesses have to keep up with the latest trends. If you want your business to grow, you must keep on top of these changes.

    While it can be quite strenuous to identify what marketing strategy will work for your business, ensure you stick to it once you do. Only change or adjust when need be! With that, here are some marketing strategies you should continue using for a successful business.

    Outsourcing Digital Marketing Services

    Outsourcing is a good way for small businesses to get an edge in the market. This is especially important when you are just starting and don’t have the time or resources to do it yourself. Therefore, it is imperative to make sure you are outsourcing your work to the right people.

    That means more than just making sure they have a good resume and portfolio samples on their website. You need someone who knows what they are doing because that will result in better content for you, which helps bring in traffic.

    You also want them to be professionals who are good at what they do because otherwise, you may end up with a lot of fluff and filler content. While at it, you may want to consider WebX360.com. They have some of the best e-commerce services for small businesses.

    Price Your Products Affordably

    Your customers will often consider the price of a product when deciding whether or not to buy it, especially if you are in direct competition with another company selling similar goods for less money -consider seeing what competitors are charging and pricing accordingly.

    This is also important because even if someone likes your product, they may not be willing to pay the high price for it, even if there are no other options. It would help if you considered your target audience. For example, if you want most customers, keep prices low. If you are looking for niche buyers who can afford higher-priced items, go ahead and price them accordingly.

    Maintain High-Quality Products 

    Creating a digital product that doesn’t meet high standards can be the death of your company. Make sure you create good products and maintain them to ensure they continue selling well.

    Please don’t neglect the product after getting created. You need to continually improve and update your content or digital products to remain relevant and work well within their industry. Customers won’t buy a poor-quality item twice!

    Package Your Products According to Customer Satisfaction

    Don’t package your products according to what you want, but rather how satisfied the customer is. The customer is the one buying your product, and you should always prioritize their satisfaction.

    It’s better to make a few customers happy than it would be to lose them all because of poor packaging or delivery time. By prioritizing customer satisfaction, they will come back for more orders in the future. This way, you’ll build up long-term customers that will keep buying your products.

    It is important to note that you can not use all these marketing strategies at the same time. The best way to use them would depend on each business, target market, and other variables in their industry.


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I’m Lena Benjamin—global growth strategist and author of NIFTY, expanding into sustainable fashion and film. With 25+ years of experience in over 30 cities, I advise on UK buy-refurb-sell property ventures and have worked with startups, corporates, and SMEs. From Amazon interest to FT recognition—let’s unlock your next move.

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