How to write business plans

How to write business plans.

Know some of the potential problems you may face when starting a new business.

Read this small effective guide below to get you thinking about some of the things you might need to know in 2016 when starting a small business.

Get the right training and business books before you start spending your money. Never forget that business is a brain game.

 

START HERE

1. Why is your idea better.

2. What resources and equipment will you need.

3. What is your business name. Check that your name is available. Things like, Domain name and social media accounts.

4. Always look and check with companies house for business names to see if somebody is using it.

5. Trademark research. Check with your local authority for trademark rights.

6. What day will you start your business.

7. What type of business will you be. Limited Company, Partnership, Sole Trader e.c.t.

8. Do your business planning. What do you want from starting it. Freedom, money, help others. What you think you want is not always what you need.

9. Do you want to become a market leading business, or a small business owner. Market leading can sometimes cost a little more to start and can come with bigger risks.

10. You must have business goals from day one. Never go into business and guess what you want as this can cost you time and money.

11. What will you make on Year 1. Year 2. Year 3. Will all the numbers add up as you grow after hiring more people and growing new and old things.

12. What makes you better? What can you offer that others can’t offer. It could be something like handmade or environmentally friendly.

13. Get your price right from day one. Never guess prices as you need to cover all your costs and outgoings. People never like to see prices go up. You need to get this right from day one. A good book to buy for this is called ( Smart pricing. By Jagmohan Raju & John Zhang. )

14. Find the price range is for your product or service before you even start adding the numbers up. If you need to charge more you need justify this price, and the reason why you charge more. People might not buy if you have no reason behind it.

15. Will people pay the price you want. Try and test this before you open the business using a MVP or getting the money first.

16. Remember, you only get 24 hours in a day. You should really be working 8-10 hours. We don’t live to work, we work to live. Work your prices out by the hours you operate, not the full day. Unless it’s an online shop as this can be worked out by the full day. Please note people do sleep. Will you be local or global?

17. We do need brakes and days off. Add all your costs up as well as your own living costs. Car, rent, food, bills, fuel and so on.

18. Are you working from home or an office. Your rent will add up. Will you be able to drop everything if an emergency comes up. Who will cover? Will they be able to manage the tasks to hand over?

19. Are your sales goals realistic? If not, take another look at pricing and costs.

20. Know your market. Who are the people that buy from you? Do they want it or need it? Know the buying behaviour of your market from day one.

21. Is the location going to drive people in? Selling motorbikes in retirement areas may not sell as good as selling mobility scooters.

22. How many people buy what you sell daily? How much will 1% add up to? Will 1% cover your costs? I’m not saying 1% is what you make, it might be more or less. 1% is a good number to work with.

23. Is it a one off sale? If so, how will you get more customers? Advertising can get expensive over time. Will your advertising costs always be cheaper that the sale price for many years to come?

24. Is your target market getting smaller or opening up to new opportunities with growth.

25. Are you aware of any laws that might change and affect the future of your business.

26. Most people are price sensitive with what they buy. Is your market price sensitive.

27. Find your target market, their income and needs. Would they choose you over your competitors.

28. What value do you offer. What will they like. What will they use it for.

29. Know what others are offering so you know how to make yours better. This way you can probably charge more and justify why you cost more so you can close more sales.

30. Find out your strengths and weaknesses in the business and outside of business. Have a USP. Unique selling point.

31. What insurances will you need? Get prices and add them on.

32. Will you lease or buy.

33. Have you got parking if you need it.

34. How will you market it. This do cost money. Write 8-12 ways of marketing down and add up the daily or weekly costs.

35. How much will it cost to win a customer.

36. How will you finance the business. Can you pay the loans and interest off in time. Be careful when getting loans before sales.

37. You will make losses. Add this in to your cash flow. Can the income meet the day to day costs of running your business.

38. Have you tried to get sales already to test if it sells? Have you got any orders for it.

39. Don’t always think it’s better to stock up and max your money out on items. It’s not always the best way to think as this could cost you your business if you can’t sell them or have no money for day to day costs. Never go on assumptions. Know what you can get or have on standby from dealers. Things also go outdated quick. Don’t be stuck with lots of junk people don’t want.

40. Ask suppliers and arrange to buy on sale only. This can free up cash.

41. Will your product depreciate or go up in value. Will it have a long life span or a short life span.

42. List of things you may need to pay each week.

Website

Hosting

Domain name

Website and data security

Do you need a Laptop/computer

Laptop computer upgrades

Training.

Wages for you and staff.

Your Tax.

National insurance.

Pension e.c.t.

Postage costs and printing.

Online and off-line management services.

Advertising.

Phone bills.

Office / building Rent.

Building energy / water / electric ect.

Building Rates.

Office accessories

Transport

Vehicle maintenance

Vehicle fuel.

Vehicle servicing.

Road tax.

Insurance.

Business insurance.

Staff insurance.

Bad debt.

Loans.

Bank fees e.c.t.

Accountants fees.

Internet and mobile costs.

How will you do book keeping.

Personal life. Home rent or mortgage / food / bills

10 KEY QUESTIONS TO ASK YOURSELF

1. WHAT IS THE PRODUCT OR SERVICE

2. WHAT IS THE UNIQUE VALUE PROPOSITION

3. WHAT IS THE MARKET OPPORTUNITY

4. HOW DO YOU PLAN TO MAKE MONEY

5. WHAT IS THE STRATEGY OR VISION

6. HOW DO YOU SELL YOUR PRODUCT

7. HOW MUCH CAPITAL DO YOU NEED

8. WHO IS THE MANAGEMENT TEAM

9. WHAT ARE THE PROJECTED FINANCIALS

10. WHAT’S THE PRELIMINARY VALUATION OF YOUR COMPANY

12. Marketing steps.

1. Claim your market.

2. Choose your customers/market.

3. Clarify their problems.

4. Craft your story / brand story.

5. Create tiered solutions. Create a product stairway.

6. Capture attention.

7. Convert people into qualified leads.

8. Cultivate a loyal community.

9. Campaign and sell and sell sell.

10. Collaborate and accelerate.

11. Construct your team.

12. Care for your customers.

BUSINESS PLAN FOR SHOWING INVESTORS

POWERPOINT PRESENTATION

ABOUT 14 – 16 SLIDES

EACH SLIDE ADDRESSES ONE QUESTION

MULTIPLE SLIDES FOR PRODUCTS

ABOUT 15 – 30 WORDS PER SLIDE

HOW MANY CUSTOMERS WILL YOU GET

HOW MUCH WILL YOU CHARGE

HOW MUCH MONEY REVENUE FROM SERVICE vs PRODUCT

DON’T WORRY TO MUCH ABOUT THE FIRST YEARS COST. ASK YOURSELF WILL YOU MAKE A BIG RETURN IN THE SECOND YEAR. INVESTORS KNOW SOMETIMES YOU NEED TO SIT BACK FOR A YEAR OR TWO TO START MAKING A RETURN.

SOME SMALL TIPS.

JUST BECAUSE YOU HAVE MORE MONEY, PRODUCTS OR PEOPLE TO DO THE SERVICE, DOESN’T ALWAYS MEAN YOU GET MORE SALES.

WHAT TYPE OF BUSINESS STRUCTURE WILL YOU BE ? PLEASE DO SOME READING ON THIS BEFORE YOU START AS SOME HAVE DIFFERENT TAX AND INSURANCE RULES ECT. BELOW ARE SOME EXAMPLES.

SOLE TRADER / PROPRIETORSHIP

GENERAL PARTNERSHIP

LP ( LIMITED PARTNERSHIP )

LLC ( LIMITED LIABILITY COMPANY )

S-CORPORATION

C-CORPORATION

LLP ( LIMITED LIABILITY PARTNERSHIP ) AND SO ON. PLEASE DO YOUR HOMEWORK ON THIS WITH YOUR LOCAL GOVERNMENT AS SOME MAY CHANGE.

WHAT LICENSES WILL YOU NEED? WHO DO YOU NEED TO REGISTER WITH? WHAT ARE THE COSTS OF ALL THIS?

Always seek independent advice when starting a business. This small guide is only scratching what you need to know. Talk to your local business support teams to get more help on this.

26 Exploding Business Tips

26 Tips you might need to know before you start a business.

1. Find a good business idea and demand. Really speaking you want something you already know and are good at so you got more chance of winning your space. Next you will need to pick a good name for your business. Tip. Try and get a name and a domain name under 8 characters. Longer names can work, but they need to go together and be memorable.

2. Before you buy that desired domain name, check and get all your social media business account names. Twitter, Facebook, Google, You-Tube, Linked-in and so on.

Tip 1. Never use your own email for them. Get a new email account first.

Tip 2. Get the (.com) and (.co.uk) or someone will try to sell it back to you for a big cost.

3. Check if somebody has already registered that business name. Check for local trademarks and check with companies house. Each country will have different places to register trademarks and names. Please do your homework with a quick Google search.

4. If you know your business will work and you have a good chance of winning, then I think it’s a good idea to reserve your name with companies house. If you live in the UK. Other countries might be different.

5. After you register your business name you will need to know and check if your logo can be registered for what you want it for. Just because you want the name “coffee 10” doesn’t always mean you can have that. The trademark office get funny and never let you register some names or logos that describes your business. If you got a coffee shop and call it the yellow house then this should be ok. But if you call it coffee 10 or the coffee shop then you might have trouble. Talk to trademark specialists about this first.

Some people can get around this so please see a trademark specialist that can fix this for you. It’s also a good idea to call your trademark office and ask them what you want to do. The trademark office is full of friendly and very helpful people that love to help.

6. Get a good web developer from day one. Your developer will eventually know your business more than anyone. You need one that will work with you 100% of the way so you deliver the best user experience for your customers. You never want one that only works with your money. Your developer can sometimes be the difference from your success or failure online.

Please note that a bad website is not the only reason that can stop you from succeeding. Build a MVP and test your business before spending money. Some people use kickstarter.com to test ideas first. This secret trick could save you from going bankrupt. 

7. Get a good graphic designer from day one to design your logo. This is what people will see and remember forever. Appreciate the knowledge of others. Graphic designers didn’t go to uni to look pretty party. They specialise in something that the mind needs when advertising. It needs to be done correctly for people to trust your business.

8. Write 20 blog posts for your website from day one to get you ranking slowly. Keep adding more each week. Or pay someone to do them to save you time. Learn how to do SEO and headlines and know how to write a blog before you post it. Make people feel and taste what you sell in your ads. I have some books in my book store that might help you.

9. Never have bad designs on social media. Canva.com is my choice for websites and social media designs. Please use a graphic designer for logos and your homepage. If you can afford a graphic designer to do all your work then I recommend it. Please remember that you log can be used for all advertising campaigns in the future.

10. If you get all your work from social media, then try and get a strong following and post over 40 times before you even spend money to promote your page and ad. Post 80% images and 20% offers so people and Google can see that your page is active. Ps. Please buy some training before you advertise on Facebook. Never guess how to do this.

I’m not saying this will work for everyone, but it can work if you do it right. You also need to ask yourself this. Will you want traffic, sales, or brand awareness? End with a strong call to action and tell people what to do next. If you ask people with a CTA they will more and likely do it if the ad is for them and they feel apart of that page or ad.

11. Make sure your website is evergreen work when you first start out online. You never have to keep going back to it all the time to change things. This tip will save you time and money later when you’re too busy with the business.

Evergreen means things that never have dates or run out. The last thing you want to be doing is paying for more videos from me or people you pick that need new open times or logos that need to be changed if you’re on a budget.

You can make more videos and designs when you grow your business and make more money.

12. Make sure all your information on your site is in the right place. Don’t ever stuff all your info on the homepage. Someone that needs a plumber fast don’t give two monkeys about your dog’s name. If people want this information then they will go find it and look in the right places themselves. Treat your business like a business and it will pay you like a business. Treat it like a hobby and it’ll pay you like a hobby.

13. Get professional business cards from day one. Don’t go for the cheap free ones. They can work yes I agree. But professional business cards will always pay off better.

14. Attend the right networking events if this fits your business. You can meet some of the best contacts that can help grow your business in networking events. This has a process too. Get someone that is good at sales and talking and someone that knows your business inside out. Tip. Keep away from the things you don’t need just yet. Get details and keep them for when the time is right. Some of them are mugs and don’t give a monkeys about your business. They will just take take take and put you at risk. Learn to say no because not everyone will act in the best interest of others. Tip. Ask them for a free trial. If they can’t do this then dig a little deeper to find out more about them. It might just not work for you so don’t be fooled. If you can get a free trial then it’s a win win. You get to test it, they get a new customer if it works for them.

15. Write down all the places your target market will be from day one. Try to work on this first and see how you can use it to your best advantage to strike some deals.

16. Don’t overspend on things you don’t need. Why do you want 3000 business cards right now? Buy 250 and get more when you need them. Don’t get sucked into cheap deals because business cards can get old and look a mess if you keep them too long. And plus they take up space you may need. This is the first mistake people make so don’t be fooled by deals that don’t really work for you long-term.

17. Car magnets are not really that good. They can work but I highly recommend full sign writing if this fits your line of business as the numbers will be bigger for people to read. Not every business will need this from day one so please be careful how you spend your money. Quality is dictated by the viewer not you.

18. Get a laptop/computer and keep all your work in separate files to save time later.

Please download all the software you will need to free up time and save money and stress later. Please get the buffer and Hoot-suite app for social media time management. Why do I need them?  Well just now I said get separate files yes? Well this is why you need to keep your work in files. Buffer and Hoot-suite let you schedule post for anytime of the day you like, so when you get a busy week you can quickly upload updates images and offers from your files and have it all go out at the time you schedule them. You can do a week’s work in 10/20 minutes and never be online in the week. This can save you 7 hours a week for play time.

19. Make sure every step is fixed and looking good before you even advertise your business. You only get one shot at winning people over and they will always remember bad work and designs from last time.

Tip. Never write like me. Get a blog editor from day one. Posting nothing is probably going to be better than posting with bad designs and text.

20. If you don’t need a business partner then don’t get one. They can do more harm than good if they haven’t got the time or education to run a business. Don’t make this silly mistake and try get anyone you know because you feel all energised right now. Please take this advice on board.

It’s sometimes best to ask a friend for help and pay them for a role if they can’t play a big role in helping you succeed. People change when it comes to money and cuts so always keep this at the top of your list.

21. Keep money aside for business and technology changes that will come and bite you. You need to watch out for the laws that may come into play that could affect your long-term plans.

22. If it takes too much of your time for a small return then don’t do it. Pay somebody to do it.

23. Get the right insurance you need from day one.

24. If you’re not fixed up then don’t turn up. Work clothes are key for some people. People will trust work clothes over a scruffy jumper any day. But sometimes the scruffy ones can do a better job I agree. But not everyone knows this so start strong from day one and let people know you take pride in your work. What you do after that is up to you. Most people don’t give two monkeys how you dress after you strike a deal.

25. Don’t hire people just yet if you got no customers. Don’t put yourself, them, and business at risk if you got no money. If you’re going to fail, fail responsibly.

Tip. I always contract my work out when I start anything new?  Why do i do this? So I never have to worry about paying staff. This is the low-risk way of doing it. If you don’t get a sale you don’t have to worry about paying staff and stressing over problems. It’s basically a business model. I am not saying this is the best way. This advice is just giving you some ideas to think about. Some are better than others.

26. Always be in the places people are looking for you from day one. Never knock old school advertising and sales because they do work. Tip. If you make your ads look like editorial pages, you will get more readers. Thank me later for this one.

This list should be used as a guide only to help you avoid some problems. Please seek your own professional advice.

The Impact of Screens Before Sleep

The Impact of Screens Before Sleep – Photons

The impact of screens on sleep is never good for anyone. Mobile phones and basically anything that is screen related will always have a bad effect on your health and stress you out if you spend too much time using them. And if you want to succeed in business and life then this blog post can help you a little with time.

People, especially younger people are now exposing their eyes more than ever before to the stream of photons from mobile devices that basically tell your brain to stay awake.

Personally I believe this is one of the main reasons people are not having a good night sleep anymore, and too many photons being exposed to the eyes can have a massive effect on the daily tasks in people’s lives with the day to day things.

Basically the light and photons in the screen is telling the brain of the human to stay awake, and it’s telling your brain it’s still not time for sleep yet. Do you ever find yourself flicking from network to network and website to website and ever wonder how time quickly passes without you even knowing it? Well this is why it’s happening because you’re sucked into something the human brain was never built to do. It’s like fear, thousands of years ago the brain was built to be worried about survival and dinosaurs. But now people get worried about debt and bills so the brain is doing new things as we change and most don’t even know it.

The photons in screens are like a drug to the brain, so next time you see a drug user ask yourself this question. (Are you up all night looking on your phone? ) If so I think you might need help.

Personally I think the only difference between a drug user and the photons is this, one is legal and the other one is not.

I’m no rocket scientist I’ll admit that now, but it don’t take a genius to work this out and look at the bigger picture when it comes to bad habits of the world people face day to day from the things that blind them.

I did some research into this before I started to write this article, and I found out that scientist now know what sleep is likely doing to humans when we sleep. Its good to sleep because sleep is letting the active neurons to rest. Letting the neurons rest is good, but more than that the supportive cells called the “glial cells” are now active cleaning up the toxins that the neurons produced. Don’t ask me what glial cells are because I’m just as confused as you. Below is a video I found that tells you more about the brain neurones if you’re interested to know more.

P.s. I highly recommend you watch this video so you can see and get a better understanding of what the neurones do to humans so you can live a better life style.

 

If you don’t get seven to nine hours sleep a day, but you only get five hours from your busy days or late nights because of the phone that is sucking you in, then the toxins remain there for over 95% of people.

(It’s like your best friend on a sunday morning, he/she will just stay on that sofa until he/she is all fixed up and ready to go)

5% of humans are genetically different and they don’t need as much as the 95% and from my own research the 95% of people who only have five hours sleep and think its cool really need to know the problems they face from trying to be like the 5% is bad for them.

Lack of sleep will make your attention falter, your memory is impaired, your ability to think through problems is challenged, the insulin that helps your metabolism is turned upside down so you’re more likely to gain weight from what you eat. So before you blame the body for not paying off from your hard work of eating good, ask yourself this. Am I stressed? Am I not sleeping good? Am I single and need a man/woman in my life? And if you think that was bad then this is what else I found. Its actually toxic to the connections in yourself.

So now you want my view and tips? 

1. Prioritize sleep.

2. Keep away from screens after 8-9 pm.

3. 1 Hour before bed give them phones a rest for the night.

4. This next step is simple. Learn to filter problems so you never get stressed. 

5. And the last one is easy. Get your ass on some dating sites and get some fun in your life.