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How to Make a Successful Business Plan?

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How to Make a Successful Business Plan?

Do you know how to make a successful business plan?

If you are thinking of creating your own business or already have one, you have probably heard about business plans. This document is fundamental to know how a business works and what its viability is.

At No Commissions we take it very seriously that you achieve business success as effectively as possible.

At the beginning you will be overwhelmed with the amount of information you need to make your own business plan, but do not be discouraged, if you do it step by step and following some of the recommendations that we will give you below you will see how easy and fast it is.

The most important thing is that you know and have very clear what you want to undertake. With this information, the rest will be just a matter of knowing how to expose your ideas. Business plans are a document that cannot be missing in any company, so it is important that you devote the necessary time and do your best.

What is a Business Plan?

A business plan is a document that details your business and is created after a thorough analysis of what you are proposing. You can see some of the best examples of business plan shared on the Niche Beasts Blog. The idea is that it includes all kinds of information, such as what you are going to sell, where you are going to do it and who your target audience is.

It should also have details about the financing you require and how you plan to invest it, financial projections and other issues such as licenses you need from the government or real estate rentals.

What is a Business Plan for?

The reality is that a business plan seeks to make visible, both to yourself and to others, whether an idea is viable or not. It also allows you to see the risks and opportunities of your venture, knowing then what you will have to face.

It is very useful for entrepreneurs who are looking for sources of financing, since with it they can expose how the business idea would work. If you do it in the right way it is a fundamental tool to take the right direction and have greater opportunities for success.

If you do it on a company that is already in operation serves to detect failures in the process or create action plans to improve results. It seeks to make decision making easier and to detect irregularities.

How to Make a Business Plan Step by Step

As we said before, the business plan is a document that results from the analysis you make of your business idea or company and how you plan to develop it. For this document to be effective it must have some basic elements.

If you take into account the following points you will be able to make your business plan step by step. The order of the items is how it should be presented, but not necessarily how you should develop it, even the first point can be left to the end.

Learn how to make a business plan. Enroll in a Post Graduate business analysis certification training program.

Executive Summary

The executive summary is a short text in which it is expressed in a general and simple way what the business idea is about. It should be very explanatory and easy to read, since it should be designed so that anyone can understand what your objectives are.

You can do it after having the complete content of the business plan, so you will have more clarity when writing it and you will be able to extract the fundamental ideas of each one of the items. Remember that it should be a maximum of one page and should contain certain key points.

This will be the first approach they will have with your business, so it should explain in a simple way everything the plan includes. It is a synopsis of everything that will be found inside the document and that is why it is important that it is engaging and very clear.  

Summary: in no more than two paragraphs you must explain what the company is about, where it is located, what it sells and which are its customers.

Profile: within this text you must make a small profile of the company. This should include the structure of the business, the owners and each of the skills it will provide and also what would be the profiles of the first employees.

Products or Services: in a very brief way you must make clear what you are going to offer, that is to say, which products and services you will launch to the market and why they are better than others that already exist.

Market: Before starting any business, it is essential to have a clear idea of who it is aimed at. In this space you must detail it in a clear and summarized way.

Finance: Every business needs financing, so it is important that your executive summary includes where you plan to get the resources to start and what your future projections are.

Company Description

Your business plans should have a detailed description of the company. Here you can expand all the information in the executive summary without being too extensive. You must include the whole structure of the business, how, when and why are questions that you will have to answer in a simple way.

Keep in mind that within this section it is important to make a description of the market needs you plan to meet with your business. Remember that it is always better to use simple language but express clearly everything that has to do with your business idea.

Market Analysis

The executive summary should have a basic description of your market analysis, but here you will have to go into detail. Answer the basic questions such as who is your product or service aimed at and why that segment of the population was chosen.

You must be as detailed as possible with the target audience, so that you have a specific niche that you can later expand. You must analyze very well what profile would be interested in your product or service and why would you choose it over what already exists.

Making a buyer a person is always an option. Create profiles of your potential customers, use names, ages, professions and family life, so you can understand what they are looking for and why they would choose you to meet their needs.

Products or Services

Here you will have your opportunity to show why your product or service is important and will be welcomed in the market. Take the time to analyze it, see all its advantages and disadvantages, so you can make the description as accurate as possible.

Focus on what its added value is over others that already exist. In this space it is recommended that you be very descriptive, but also that you can argue, so you can use studies of other similar products or services and their development in the market.

If you have several lines of your product or service you should be very specific. For example, if you are going to launch a clothing brand, make a description of the men’s section and another of the women’s section. If there are sports, formal and informal categories, you should describe each one with its advantages and disadvantages described by Wall Street Prep guide.

Operations and Management

This part is very important, because here you will have to say very clearly how you plan to make your business work. Everything must be explained and summarized. Keep in mind that you can modify this later if you think it is necessary, but you must try to be as real and coherent as possible.

It’s all about how it will work, that is, who will be in charge of what tasks, how many people you need on your team, and what the roles and responsibilities of each member will be.

It is good that you make biographies of your work team, that you include knowledge, training and experience by which the responsibilities or tasks are assigned. Everything you can argue will serve to give more value to your business plan.

Marketing Plan

This is one of the most important points. You must say how you plan to promote and sell your service or product. What channels will you use to reach your target audience and why. If you are going to use digital marketing you will have to take into account different types of ads and social networks.

You should specify whether you will be doing ordinary advertising or using online marketing. If you have a physical point of sale, for example, you should include the visuals, logo and ads with which you plan to reach your customers.

Everything you think will help you sell your product should be in this part of your business plan. Take the time to do it the right way, so you will have a great advance in the moment of starting your business.

Financial Plan

Forecasting Basically, as with pretty much anything else business-related, a robust plan will help you no end. With a cash flow forecast, you can plan what you expect your business’ finances to look like. A cash flow forecast is essential to any successful business plan. Granted, this plan will only be an estimate. But you will have based it on how you expect your business to perform. So if the forecast doesn’t match the actual figures you get, comparing the two may provide valuable insight into business costs and expenditure. Let’s say your utility bills are a lot higher than those budgeted for in the cash flow forecast. Maybe it’s time to switch electricity provider to ensure you’re getting the best deal. Or perhaps you could work on making the office a more energy-efficient space?

This point includes everything that has to do with money. From the amount you need to get started to what you expect to pay back over a period of months or even years. What do you plan to invest the money in and why.

Always include salaries and hours invested, both yours and your partners and team’s. Everything must be detailed. If you think about credits you must take into account how and when you are going to pay it, if you have to pay rent for premises or offices it must be in the budget.

Don’t leave anything out. If you need to move around in a car, consider the gasoline and the wear and tear of the vehicle, the internet and the equipment you use. Also, you must consider if you have to pay taxes or not and how to do it.   

Examples of Business Plans

Business plans are not only for ventures, they can also be used in already established companies to make an evaluation of their evolution or to determine a plan of action that seeks to address a particular situation.

Depending on how you use your business plan, you can focus it on one of its aspects. Below we will give you some examples of business plans and what their objective would be:

For new Businesses: This business plan is made, generally to analyze the viability of a business idea. It is also used to apply for financing. Its information is always subject to change, although the author should take into account situations that may alter what has been foreseen.

For Operating Companies: it must take into account how the company is currently and whether the objectives set have been achieved. It is regularly used to create action plans to achieve better results.

For Managers: it is more focused on what has been done in the company so far and what the next steps should be. It includes a work guide and is used to make specific decisions.

For Investors: if you are looking for an investor for your company, you should highlight certain points in your business plan, such as financial projections. Everything you expect in a given time and how you are going to use the money you need.

Simple Business Plan: it is a document that is aimed at any type of person and therefore its preparation is simple and should be very easy to understand.

Standard: it is the one used in any type of business. It must have the description of all the important points of your company.

One Page: it is more of an executive summary but a little more detailed. The objective is to make sure that in one page the most important points of your business are known and understood.

Feasibility: it seeks to determine if the business idea is viable and if it will be successful in the market. You must specify the product or service, the need you want to cover and the difference with other similar ones.

Expansion: with this document you want to project if an expansion of your business is viable or not. Here you must make a description of the projections and the current situation to know if it is, or not, convenient to invest in growth.

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How JewelFlix is Changing Jewellery Business in India

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The internet has made shopping so easy for everyone that you can buy anything now at the click of a button. Until now, the Jewellery businesses have been very slow in catching up with the online shopping world. But now, it has been made so easy with just one idea which brought the Jewellery market online.

‘Tansh Jewels Private Limited.’, an already established jewellery firm came up with the idea of doing something which would change the entire industry, in both B2B and B2C. This included Customers, Jewellery Retailers, Wholesalers, and Manufacturers. The idea of “JewelFlix” quickly caught up with the Indian market among both Jewellers as well as consumers.

What Does JewelFlix Represent?

JewelFlix is an online jewellery marketplace where Jewellers from all around India would be able to showcase their products for the whole world to see. When Jewellers were made aware of this venture, they quickly associated with this idea. This was an opportunistic moment to extend their business visibility. From just a small city where they operated in a limited area to a broader reach across the nation. The sellers adopted this and experienced a boost in their sales as well as recognition of the brand on social media.

This exhibition of products was not the only feature of JewelFlix. But they also provided every associated jeweller with their own exclusive website and mobile application for Android and IOS. This allowed individual Jewellers to develop their own brand and customer loyalty.

For people, this online jewellery shopping store was a place to explore thousands of different and unique crafts of jewellers in India. Now people didn’t need to go from shop-to-shop to find that perfect piece of wedding necklace, ring, bracelet, or any jewellery item. They would just visit www.jewelflix.com and then choose among the hundreds of products listed. Each product has the specifications like weight, purity, metal, brand and various other details mentioned along with the photos of the exact product.

The Success at South Jewellery Show, Bengaluru

The event of South Jewellery Show held on 8th to 10th January 2021 in Bangalore was exclusively held for Jewellers all around India. This was a chance for already established jewellers as well as fresh-in-the-market jewellers to showcase their products among hundreds of other jewellers.

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South Jewellery Show, Bangalore

This event was a big occasion to network and develop new business relationships among Manufacturers, Wholesalers, as well as jewellery retailers. And it turned out to be a big success for JewelFlix as well since they were able to explain their services, features and benefits directly to the jewellers.

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South Jewellery Show, Bangalore

With the aim to digitalise the jewellery industry and collaborate more than 5 lakh jewellers by contributing to creating a Digitalised nation. The Main agenda of JewelFlix is to render the best digital services to their customers by boosting their business online and making their dream come true.

What are the Main Reasons Jewellers Choose JewelFlix?

JewelFlix provides a global business platform to connect with top industry brands of retailers, wholesalers, and manufacturers. The continuous marketing for the associated brands on the website as well as on social media. This widens the range of business visibility and provides with more genuine leads. And one of the most liked and important features is the ability for each individual jeweller to market their own brand using the exclusive app and website.

These are the core benefits provided by JewelFlix and it is believed that more features and benefits are along the way on their platform for the Jewellers in India.

In conclusion, it can be said that JewelFlix is revolutionizing the online jewellery industry for businesses as well as consumers around India.

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Worry-Free Moving: A Downsizing Checklist for Seniors

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According to a survey conducted by TD Ameritrade, 42 percent of respondents said they plan to downsize in retirement.

It makes perfect sense. The kids have moved out of the house, and you no longer need the extra space. All those household tasks – cleaning, maintenance and repairs – that made sense when the house was fully occupied, don’t really make sense any longer. And the added money you spend on a large home could be better used by enjoying your retirement.

The process isn’t always easy, though. Letting go of the family home, and the lifetime of memories therein, can be emotional and laborious – especially if you go it alone. If you are considering downsizing your home (either for yourself or an elderly loved one), you can make the process easier with this checklist.

Talk with Loved Ones

Whether you’re the one downsizing or you are sparking a conversation with ageing loved ones, it’s wise to talk things out. To start, determine the reasons for downsizing: is it a financial decision, for health reasons, or are they looking to make a positive life change? Perhaps it’s all those reasons.

Getting to the root of why downsizing makes sense can help the process along. Next, talk about possible reservations you (or they) might have. Are you nervous about decluttering? Is there trepidation about the move itself? The more you define your reservations, the better you can address them.

Outline Criteria for Your New Home

Besides a smaller size, what are you looking for in a new home? Do you want to be closer to family? Are you craving a community of like-minded seniors? Do you require greater accessibility and fewer house responsibilities? Answering these questions will help guide you toward your perfect home.

Declutter

To set your downsizing adventure in motion, you will need to edit your belongings. For best results, call in the experts for this step. A professional downsizing company can help you declutter and organize your belongings. Working closely, compassionately and patiently with you, they will sort your belongings and spearhead the sale or donation of unwanted items.

Take Pictures

Take pictures of your old home, and if it helps, take photos of belongings you are giving away too. These reminders of the past can help ease the transition. They are an acknowledgement of the significance that your home had in your life, and you can even hang them in your new home as you get used to it.

Leave Move Day to Professionals

When moving day rolls around, you want to focus on bidding farewell to your old home and saying hello to the exciting new chapter of your life ahead. You don’t want to be bogged down with moving logistics and tasks. Look for a professional downsizing company that, in addition to offering decluttering services, offers end-to-end move management, taking care of truck rentals, elevator reservations, packing and unpacking. Leaving move day to the professionals takes a lot of the stress out of the process.

With a few candid conversations with loved ones, some proactive planning and the help of professional downsizing services, your move will be largely stress-free and positive. Now, all that’s left to do is enjoy your new home – and the money you saved along with it!

 

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The Best Secure Payment Methods For You Online Business

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When you have a store online, the most fundamental thing to take into consideration is offering a secure way for your customers to pay. Secure not just for you, but mostly for them. Trust is essential when somebody is going to make a payment through your site. 

Picking the right ones is generally a balancing act, however. You want to provide enough options for your customer to have a choice and not click away for lack of a suitable option. At the same time, you need to make sure that the fees for accepting these payment providers won’t be so high that it cuts into your margins.

In this article, I will go over some of your best options when it comes to accepting payments online for your ecommerce store.

1 – Cryptocurrency

One of the best benefits to having your store online is that you have the entire world as your marketplace. Your customers can be anywhere in the world. The problem, usually, is handling foreign currency and payments. It usually is not worth the effort and expense to have options for those abroad.

With bitcoin, you never have to worry about that. With a digital wallet, you can accept cryptocurrency from anybody without needing to pay a middleman to convert the payment. You accept the coins into your wallet and that is the end of the story. Fees are also very low compared to other payment providers who take their cut as middlemen.

Then, there is the benefit that you could also make more money from the transaction if the coins gain in value while you have them in your wallet. If you are risk averse then you can convert bitcoin to cash right away, but if you want to take a chance you can see if you gain any value from your cryptocoins. 

2 – Paypal

Paypal has been around for a number of years and as such is widely trusted and makes a great option for people to pay. People without credit cards love to use it since it offers a lot of protections for consumers in case of a disputed transaction that many debit card holders don’t have due to their bank not offering them.

And this also works in favor of the seller if there is a transaction that doesn’t seem legitimate. 

Like with bitcoin, Paypal is international and can be used in many different countries to process payments if you have an international presence.  

The biggest problem with Paypal is the high fees, however. 

3 – Google checkout

The world’s largest internet company is of course going to make a splash in the ecommerce world. Google Checkout is the answer to Paypal and is very convenient.

Since just about everybody has a Google account, it is very easy to set up a wallet and make payments seamlessly. The fees are generally lower than Paypal and go down with volume as you use it to do more of your shopping

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The AKR Flatbed Service In Manchester and Its Insight

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Bolton-based AKR Light Highway is one of Manchester’s leading road transport firms. We are strategically in a position for successful implementation in the United Kingdom. We first thrived in the northwest because of our popularity. Therefore in Bolton, Manchester, companies northwest, Wigan, Leigh, Bury, Blackburn, Warrington, and Oldham, we establish close connections with our clients. You can quote today for a shipment.

We have several car models that can satisfy various distribution requirements. We offer an unmatched service. With our flood of cars with all sorts of other special equipment, we will quickly and efficiently deliver your messages.

Manchester Services is the UK’s leading road transport company.

For several years, the road haulage industry has been concerned with AKR Light haulage companies. Our Hauler service was in construction when we saw a niche on the market for a little but competent business. After a careful investigation in this area, AKR Flatbed Haulage has found that one specific item, a personal touch, was missing in larger organizations. This gave us the first idea, and we evolved from it without knowing being in a losing position. We’re glad to report that we’re a leading UK road transport and flatbed rental business!

Manchester Motorway Services

We are nationally-known as one of the best carriers in the UK. To deliver your products in time to a range of vehicles, we provide quick logistic solutions. We sell transportation and distribution in North-West England to all parts of Great Britain. Therefore, we are one of the leading transportation companies in Northwest and Great Britain.

Fleet and Storage Networks, Freight Transporters, AKR Courier, Flatbed.

We are a significant road haulage business in North West. What is a prerequisite in this case;

We provide on-board courier services for customs and time-sensitive shipments.

Move, and customs clearance electric and more can be delivered with parcels, pallets, available products, and Local and international urgent collections and deliveries. Living on the same/next day/guy the same day /Networks UK, Ireland, and Europe Supply proof (POD) is available for all deliveries. We have fully insured cars with goods subject to transit safety. Our transport systems include small, short wheelbase, long roll base, and extra-long wheelbases—our methods of transport methods include. There are a variety of airlines. However, we are genuinely separated from the crowd by our second-not customer service and our satisfaction.

Choose the best UK transportation business.

In the delivery of your goods through AKR transport, a range of vehicles is available. Suppose you need quick, reliable delivery or something fragile in the UK. In our transporter fleet, we have a lot of vans, like 3.5-story beds and 7.5-story beds. Transportation in the UK to your delicate/useful Flat Bed 7.5 Flat Bed forklift cars like 7.5 are perfect because you know that the starting point is remote. One of the key benefits is the forklift truck packaging. The vehicle or curtain is only folded downside, and the car is packed.

Difference between the transport and messaging networks

Differences between transport and courier services are one of the fastest-growing areas in the UK economy. In recent years, this expansion has been rapid. A rise caused this increase. We are a leading company for light and removals in the UK, Europe, and beyond. In the United Kingdom, and Europe and the United Kingdom and from Europe to the UK, we have expert service. In Britain and Europe, we sell domestic and commercial transport while looking for a European removal service at an affordable price. If you wish to have the best Light haulage quote Company in Europe and the UK, contact Williams Light Haulage Ltd today to receive a fast, reliable and affordable offer for your move or delivery.

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HOW TO INVEST AND WHAT PLAN YOU NEED

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What makes individuals rich? Observing the defrayment pattern of various financial gain teams within the makes it clear: Savings. The distinction between the wealthy and the poor is that the wealthy pay a more significant share of their financial gain on savings (pensions and insurance) and education.

When building wealth, conserving wealth, and spending it to subsequent generations, the formula for money success is stunning, but two hundred of citizens have a written set up once it involves investment and even retirement. The contradiction in human behavior is that we tend to area unit rational and capable of coming up with a severe event in our lives. However, this can be sometimes forgotten once it involves investment. You’ll notice that solely a 3rd of investors has a written set up guiding their investment strategy and retirement plans.

WHY IS PLAN NEEDED?

The investment world may be a harsh jungle, a world of murky waters wherever the best and therefore the most organized survive and become eminent whereas the remainder square measure gobbled up. A written set up short circuits our traditional response to one thing as emotional as cash. It prevents the North American nation from resorting to our gut feelings and emotions. Rather than following the herd mentality that will prompt you to form unwise investment selections, a thought can force you to stay to a rational strategy underpinned by basic investment principles.  You will overcome the fear of failure, tendency to approach a specific target.

PROPER ORGANIZATION TO INVEST:

The second most important thing you need is finding a proper organization on which you should invest. Life insurance and other investment insurance companies are more reliable than others. Other companies will take your money, and after some years they will forget you. Invest only in that organization on which you have much more trust than another. And follow the proper strategies and the policies to avail the insurance. Regarding these things, Amtrust.io is the best investment insurance company that you can trust easily.

TAKE A LOOK ON INVESTMENT STRATEGY:

If you are saving for long goals, you may select a lot of aggressive, higher-risk investments. If your goals area unit short term, you may choose lower-risk, conservative investments. Otherwise, you may wish to require much-balanced approach. Many companies have different strategies you should follow up on the best methods as Amtrust.io will provide you with a bonus commission for your business, 10% to 20% competitive commission and allow you to own your business and produce many dollars.

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