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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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Best E-Commerce App for the Home Accessories & Textiles in UAE

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People now prefer to buy products online. They have many choices, and they can avail different discounted offers. In the UAE, e-commerce businesses are expanding day by day. 

Mobile apps are the best source of getting more clients and profit as buyers spend 3 to 4 times longer in a mobile online shopping app than an Ecommerce website. Besides this, using mobile app E-commerce businesses can send instant notifications to their customers that also help in the positive rating of a brand. 

  • Al Saad Home app:

Al Saad home is a well-known e-commerce platform in UAE, and they are providing different home accessories and home textile products in the whole country. If you are also planning to buy some related products, you should download their app. It is the number one e-commerce app on the app store in the whole UAE. 

You can find the android and IOS app of Al Saad Home from respective play stores, and after installing their app, you can buy the best quality products from anywhere in UAE. Following are the main features of their app that make it the number one app of UAE.

  • Registration process:

It is the most annoying thing on any online shopping app, and different online businesses make it more complicated by the lengthy and hectic registration process. They also demand much personal information from the user. 

The primary factor behind the most popular of the Al Saad Home app is its simple registration process. You can register yourself within no time will save your energy and time also. 

  • Push notifications:

Al Saad Home focuses on client-centered push notifications. It helps them get more info about their favorite products and new offers on them. It is also essential for e-commerce app to send push notifications to their customers as they act as a reminder for them about discounts and the launching of new products. 

  • Great user experience:

You will get a great user experience after using the mobile app of Al Saad Home because it is specially designed in a way that visitors can get detailed info about each product they are offering. You will also get the best visual effects for better understanding, and you will be able to make a wise decision about the product after analyzing it deeply. 

  • Rating and feedback:

Ratings and feedback by the client are crucial for running a business successfully. If you are running an online business, this is the only way of its survival because it helps to make quick decisions. 

Al Saad home app is top in rating in UAE. It is run by following the feedback provided by the clients that help them to get better services to the customers. 

  • Filter the products:

It is quite a difficult task to find the desired product from a long list of items. But by using the Al Saad Home website, you will be facilitated by search and filter options. You can find the needed product in no time. Besides this, you will find categories also on their app so that you can check all the available options while staying at a specific product. 

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Saving Money on Art Supplies

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When it comes to things like brushes, canvas, paint, paper etc, philosophy is to buy the excellent product you can afford. Artist quality brushes and paints will go a long way to making your experience of creating art a more thriving one. 

Anyway, here are some of the ways you can save money on art supplies:

Use coupon and promo codes

To save money on all your art supplies, from charcoals and paint thinner to pallets, feel free to cut out and download the discount promos provided by significant art supply stores and chains. 

Often these stores have offers that are very simple to find. Just type the stores name preceded by the word “promo codes” into any search engine, and you will be shocked at the results!

And to get even more advantages, subscribe to the stores newsletter, they will send you their new coupons and offers not accessible to the general public!

Be a regular buyer

If you are used to going to the same shop, do not worry to ask if there are any coupons for frequent customers.

Usually, this reduction takes the form of credit, which is a best deal if you know you will be coming back to it regularly.

Anyway, if your must-view art store does not have such deals, it might be a best idea to look for another one, as long as it also provides everything you need and is within your range of price.

Stretch your own canvas

As you know, primed and pre-stretched canvases are expensive. Despite everything, as most artists agree, the canvas is and forever will be the best medium!

So how you can reject exploring your budget?

Well, quite simply by stretching your canvas! It will provide you more surfaces to work with, and as artist, it is a remarkable way to experience a new side of your craft.

Another best idea for saving money is to reuse old canvases. Lots of artists throw away works they no longer like or sell, which is a definitely waste. 

Online buy

Smaller art supply shops tend to charge more due to less customer volume. Buying in bigger stores may therefore turn out to be an excellent idea. Plus, big brands generally have a more big selection of supplies accessible online.

Private sellers are also a remarkable way to buy online. Do not hesitate to browse the web and its classified advertisements or online auctions to buy – at an affordable cost.

Besides, you can also use this technique to sell materials that you no longer need. It will keep you some money, and you will dynamically participate in the circular economy.

Take care of your existing supplies

Well-maintained and perfect art supplies can last for years. For example, a best set of palette or brushes can last a lifetime.

Unfortunately, many artists do not maintain them rightly, and this frivolity outcomes in the loss of hard-earned cash.

I advise you to clean all your equipment with water or soap carefully, or even turpentine after each use.

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Some of The Best Commercial Property Buying Tips

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Are you planning to buy commercial property? Well if you are then here are some effective tips that can help you out. Commercial property is one such property where people always buy them for future use. Therefore, here are some tips and suggestions that would help you out in commercial property buying.

Getting the Best Deal

Firstly, make sure that you are getting the best deal. Many people think that they can get the best deal by just looking at the commercial property. However, this is not always true. Therefore, it is advised that you first estimate the value of the property before you buy it. You can calculate the amount of money that you can earn from the property through rentals and so on.

Special Offers and Discount

Secondly, look for any special offers or discounts offered on the property. This is the best time to buy it. There are so many offers on various properties going on at the same time. Therefore, you should take advantage of all these offers.

Search Online

Next, you should also use the internet. Go online and see what offers are available with your buying power. Also, you can go to the real estate agents and ask them about special deals that you can use.

If you do not have the budget to buy the property outright, you can use your credit card or a loan from the bank. In this way, you can buy the property cheaply. But, make sure that you pay it back in due course of time. Also, it would not be wise to use your house as collateral. This will lead to more disadvantages.

Last but not the least; when you buy commercial property you must be very careful. This is because many people want to buy the property. So, you should be very careful while dealing with the brokers. The brokers will also charge you some fees for their services. Do not be attracted by the brokers. Rather, choose some friends or relatives of yours who can guide you during the process of the deal.

Also, when you buy commercial property you should keep the property in your mind. Do not think about moving to another city or country. Keep the property in your mind and keep it close to your heart. By so doing, you will be able to get the best out of the deal.

Points to Consider

So, these are some of the most important tips that you must consider if you are looking for commercial property. Always remember that when you are buying the property, you should not think about yourself but about the profit that you will get after buying the property. Therefore, do not use your emotions when you are buying the property. Keep your mind clear and use your logical thinking.

If you do not pay attention to any single thing when you are buying the commercial property, then there is a big chance that you will end up in trouble. You will have to think about the maintenance costs as well. Therefore, the best way to stay away from all these complications is to look for an agency that will help you out. However, you have to make sure that the agency will help you professionally buy the commercial property. So, you will be able to use them whenever you need them.

Another thing that you have to take care of is to check out the property thoroughly before you purchase it. This is very important as this will help you figure out whether you are making a good deal or not. Moreover, you can also take advice from professionals. Therefore, when you are doing the deal, you have to trust the professionals who will help you in this regard.

When you are buying a commercial property, you will have to think about the rental rate of the area. You will be able to determine the best deal only when you know the market rates. It will be even better if you visit the area yourself and find the best rental rate. However, this is something that cannot be achieved by just visiting alone. You will have to hire the services of a good realtor so that you can get the best deal at the end of the day.

Finally, you should always keep a close watch on the competition around you. This is one of the most important of all the commercial property buying tips. No matter how much you are interested in a particular property, you have to remember that many other people are looking for the same thing. Therefore, you have to be very careful when you are dealing with the competition.

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NO CREDIT CHECK LOANS

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Procedures and Requirements 

If you are searching for a quick cash for an unusual expenditure, but you are carrying a low credit record, and it might be tough to obtain the loan you want. If you are a decent credit score holder, you will get a plain path to get all types of loans. Otherwise, you will face challenging conditions to get that type of standard loan. There is also a solution for this kind of problem you are facing for having a low credit record. There is an alternative way which is called- no credit check loans; It doesn’t depend on your credit score. When you want a no-credit-check loan from a bank, your appeal will be analyzed based on your business, recent loans, and other credit status to sketch an image of your economic condition without verifying a heavy review of your credit score. Authors of Banks and lenders have to check your credit history to specify the worth of your credit and capacity to pay back any effective loan. In this way, they can evaluate the threat of giving you money if any threat exists. Those People who have lower credit scores normally receive loans with huger interest ratios, as banks watch them as a possible risk. Suppose you are searching for a suitable loan, then apply online for no credit check loans. It is pleasant and straightforward to start by filling in some formal information such as name, age, email, address, job status, etc. After this, you might have to answer the questions about why you are taking this loan as well as how much you want, and there is no need to show your credit graph. That is enough for opening a no-credit-check loan. 

Advantages

The process of applying for no-credit-check loans is straightforward, and it is generally authorized very quickly permitting you a rapid permit to obtain a loan without facing any trouble with your credit record. Considering other loan choices and reserves, no-credit-check loans are a little bit costly. It is nothing if we compare it with the facilities of it. No-credit-check loans can get from banks or lenders that guarantee a simple procedure and quick delivery of reserves. Many of these banks expect entry to clients’ bank accounts and automatically evacuate the capital on the unpaid period. There usually have no liabilities for quick payments, and returning your installments on time assists create your credit record as your payment movement is noted to crucial credit departments. In this direction, you can promote your credit record, increasing your prospects of an even decent deal next time you pull a loan. Every bank will survey all of their account holders’ bank account to analyze their spending patterns, deposits and departures. Some of the banks survey summaries from alternative status that receive data of clients’ low credit totals. Those summaries can indicate aspects like whether you have earned a payable or ownership loan. An account can be disqualified by the bank authorities because of revealing many overdrafts. The bank that gives you A no-credit-check loan, will survey some of your economic data is a comfortable option than one that gives a loan without asking too many questions. There is also some disadvantage, but that’s not a big deal with comparing with the advantages. Before you take loan, you can evaluate other choices as well as understand how other loans can lay your finances at trouble. After doing this, you can realize which type of loan will match with your desires. When you receive the approval for getting a no credit check loan, you will be provided the conditions of that loan, which contain your APR, loan regulations, the total quantity paid, and load duration. You must make sure that you read them very carefully and that you are satisfied with the conditions. You have to be confident to return your loan on time to avoid delayed fees and a dismal credit record. Paying after the due period says you will spend more in interest and give more money on your loan. Make sure that you define the relation interest ratios to earn the most accessible loan possible. In no-credit-check loans, a credit score cannot affect on getting your loan, and it is a significant benefit for all of the people who have a low credit score. 

If you have some information about the loan procedure before you start searching for a loan, and it might help you to find a decent no-credit-check loans deal.

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Instagram live rooms: how to buy real followers with them?

Recently, Instagram announced a new feature called Instagram Live Rooms. This is a new way that people can use Live on Instagram.

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Recently, Instagram announced a new feature called Instagram Live Rooms. This is a new way that people can use Live on Instagram. What’s even better is that users who pass live using this feature will be able to accommodate up to three guests.

Instagram Live Rooms: what it is and how to use it

Instagram Live Rooms will allow brands and creators to reach new audiences, engage with their community and transform them into customers.

Instagram Live Rooms in a nutshell

Buy Instagram followers Pakistan . The social media platform owned by Facebook was already offering live broadcasts at that time. However, this can only accommodate two people at a time. This means that live rooms immediately doubled the number of people who can join one live stream. 

In addition, those who are present at Live Rooms can earn money by selling viewers the digital badges the platform launched last year. Viewers can purchase these badges to support the people they watch. In return, the people who are broadcasting live will be able to spot them better each time they comment. In addition, creators have the option to offer additional recognition to badge holders. One way they can do this is by putting their names on the follower list. Badge holders can also receive unique hearts that they can use in the comment section during the live stream.

Moreover, Instagram said in a statement that this new feature is a very welcome update.

Creating live rooms on Instagram is quite simple. Below is a step-by-step guide:

Step 1: Open your Instagram account and go to Instagram story. There, swipe across until you see the live mode icon.

Step 2: When you are in Instagram Live mode, create the title you want for your Instagram Live Room. You can do this by tapping the “Left Aligned” icon on the left side of the screen. By adding a title, you keep viewers informed about the live theme of your room and what to expect.

Step 3: Tap the “Live” icon to start the live broadcast. However, it’s important to make sure you have a fast and reliable internet connection. After the live stream starts, give viewers some time to join the stream. To do this, spend the first few minutes of your life chatting or greeting your audience.

Step 4: This is how you will add guests to your Instagram Live Room. Click the “Video” icon to send guest requests to join. In addition, you’ll also see people who asked to join your live stream.

Creative ways to use Instagram Live Rooms

Instagram suggested a number of potential ways in the press release that brands and content creators could benefit from the new Instagram Live Rooms. It has been found that this feature can be used to start a talk show, collaborate with other artists, conduct a jam session, and even participate in Q&A and tutorials with people you follow. But if you want, you can just hang out with viewers or friends.

That being said, here are some of the most creative ways to use Instagram Live Rooms:

Product presentations

The key to promoting and selling products online is visual content, especially videos.

The Wyzowl report found that 84 percent of people were influenced by a video they watched to buy a product or pay for a service.

 This could take the form of a “Get Ready With Me” session where the live streamer discusses the skincare products they are using. They can also do a tutorial on how they can use the products your brand sells.

Questions and answers and panel discussions

This new feature is perfect for Q&A, hosting panels, and even webinars, not just sending your audience to another hosting site. In fact, you can use Instagram live rooms to create recurring monthly chats to get to know your followers.

When Instagram launched Instagram Live Rooms, it announced a new live room every day. The live broadcast covered topics such as the #StopAsianHate fundraiser and discussion with creators from the LGBTQ + community.

Panel chats and Q&A provide opportunities for creators and brands to educate their community. They can also use them to take advantage of their guests’ audience as well as take off the pressure they may feel when they perform a live solo.

Live performances

Last year, live performances and virtual concerts were very popular. This is because people cannot leave due to the COVID-19 pandemic and music concerts have been halted. With Instagram Live Rooms, artists can broadcast live to share their talents with their followers. In this way, different creators will be able to increase their reach and involvement and create an intimate, yet virtual atmosphere with their viewers.

In addition, this step will add the level of inclusiveness. The reason is that viewers from all over the world can tune in to the artist’s live broadcast without having to pay for a ticket or anything else.

Feedback sessions with your audience

Instagram Live Rooms allow you to connect with your audience and customers in real time. So you can use this as an opportunity to ask them for their opinion on a product, service or performance if you are an artist. That way, you will be able to know the areas you need to improve or the things you can continue to do. Thanks to this, your recipients will feel that you value their suggestions.

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