Category Archives: Uncategorized

Tips on Completing a Successful Business Credit Application

In order to establish your credit and keep your business attractive to lenders, you’ve got to make sure you build yourself a rock-solid credit application. There are few things to keep in mind when filing an application, so keep your head up and your spirits high.Business Plan: You’ve got to get any lender you’re considering stoked to invest in your company. The perfect plan will include a title page, company description, market analysis, products and services, operations, marketing plan, ownership, management and personnel, funds required to start your company, financial statements and projections, and any necessary appendices. The best plans are going to be able to explain in detail why the business is worth investment and what you can guarantee as its CEO.

(adsbygoogle = window.adsbygoogle || []).push({});
Financial Analysis and Projections: Any bank or personal investor lending you money is going to need to know what kind of finances you’ve already invested in the company and what kind of evidence you can provide to ensure your business’ financial success. You’ll need to provide your lender with a personal financial statement, a balance sheet, a profit and loss statement, and a statement of your business’ cash flow. You’ll also have to know exactly what kind of market you’re dealing with. Yearly projections take research and an understanding of your business’ industry patterns to make an accurate assessment of where your business will be as it continues to function.What the Lender will Review: Just as you know you like a song within the first 15 seconds, a lender is going to know if they want to give you money based on five specific factors: your ability to repay them, the capital you’ve invested in your company, the collateral you’re willing to put up, the reasons why you need the loan, and the overall appeal of the company and the borrower.

(adsbygoogle = window.adsbygoogle || []).push({});
When completing your application, keep in mind your business plan is only a written projection of your needs; what gets an investor interested is your business’ market appeal and your ability to sell it.

A Successful Business Financial Projection Can Be the Key to Securing Financing

A business seeking capital can’t afford to underestimate the importance of business financial projections. A business financial projection is simply forecasting your sales and revenue to the lender. This information is important because it is a key indicator to your ability to repay a loan.If you are unsure about financial forecasting and how it relates to your business it is best to hire someone who does know. Most lenders will want to see a three or five year projection. There are 14 different items to include and fully support in your financial projections. With these different items it is best to give a month-by-month breakdown for the first year, a quarterly breakdown for the next two years, and an annual breakdown for the final two years you are projecting.The different items to include in your projections are; sales revenue estimates, administrative costs, production costs, sales costs, capital expenditures, gross margin by product line, sales increase by product line, interest rates on debts, income tax rate, accounts receivable collection plan, accounts payable schedule, inventory turnover, depreciation schedules, and the usefulness or depreciation of assets.

(adsbygoogle = window.adsbygoogle || []).push({});
The income projection enables the owner/manager to develop a preview of the amount of income generated each month and for the business year, based on industry supportable predictions of monthly levels of sales, costs, and expenses. When determining the total net sales you will be finding out how many units of products and services you expect to sell at the prices you are projecting. Make sure to think of what returns, allowances, and markdowns can be expected. The sales costs needs to be calculated for all products and services used. Ensure that when determining the costs of sale that you don’t forget anything such as commission paid to sales representatives, transportation costs, or any direct labor costs.For the gross profit you would subtract the total cost of sale from the total net sales. To get your gross profit margin you will divide the gross profits from the total net sales. This will be expressed as a percentage of total sales or revenues.When formulating your business financial projections there are five items that will ruin the accuracy of your projections, and hurt your chances of being approved for business financing. The first one is wishful thinking or being over-optimistic about your sales potential. Ask yourself: “Is it possible to achieve the sales levels you’re forecasting?”. A good example is that a sales team can only visit a certain number of customers each week or a factory can only manufacture a given amount of products on each shift. Make sure to keep your projections realistic and even more important to be based on supportable evidence. It is imperative to also make sure that your sales assumptions are linked directly to your sales forecast or your information will contradict itself. Most lenders are “by the numbers”, so if your numbers don’t add up, you will get declined. A good example of this is to say that you expect increased sales in a market that is declining. That just does not add up.

(adsbygoogle = window.adsbygoogle || []).push({});
Another thing not to do when projecting your business finances is to spend a lot of time refining the forecast. Try to avoid tinkering with the target numbers once they are set. Many business owners neglect to ask the opinions of the sales people who know the buyer’s intentions about what they think the projected sales should be. It is important to make sure your sales team agrees on any sales targets that will be set. One other fatal mistake made by business owners when working on financial projections is not getting feedback on the projections from an accountant.

Business Plan – Key to a Successful Business

Understanding the structure of the business plan is essential to writing a successful business proposal. Every section of the business outline has a definite place and function, which needs to be maintained if the overall document is to be successful. Read through several business proposal samples and templates before starting to draft your own plan.Before Drafting Your Business PlanSpend some time examining your basic business vision from all angles before starting to draft your business proposal. Share your ideas with one or two industry insiders or colleagues and get their input as well. Look for potential negatives and hidden flaws that may affect your business success in the future.The Basic Structure of a Business PlanEvery business proposal follows a basic outline which is as follows:

(adsbygoogle = window.adsbygoogle || []).push({});
• The executive summary – the executive summary is where you sell your idea. It is always written at the end of the drafting process, so that it incorporates all the key points you wish to underline in your business outline, better. Pay special attention to this section of your business pitch while drafting. Use simple, ‘can-do’ language and dynamic, positive words that encourage readers to share in your business vision. Keep the executive summary short; it should never exceed more than two pages.The executive summary should address questions like, what is the need for such a business venture. Who will be the customers? What can the project offer them that pre-existing businesses cannot? It should focus on four or five core strengths that set your retail or service business plan apart.• The industry analysis – give a short introduction to your current industry environment. Talk a little bit about its growth potential and possible challenges. Include details of the kind of precautions and plans you have in place for coping with any tough times and making the most of high growth periods.• The market analysis – talk about your potential customers. What are their lifestyles and financial circumstances? Do they currently use the kind of products or services you are offering? If so, where are they getting them from and how can you compete with the current providers? If, on the other hand, they are not purchasing such products or services, how can you convince them of the need for the same?• The financial plan – include a comprehensive financial analysis and strategy. This includes a break-even analysis that takes into account the amount of sales you need to cover costs and the major startup expenses for your business, including rental charges, payroll expenses, advertising costs, overheads, insurance charges etc. Also include a detailed listing of your business assets and liabilities and the kind of funding you need and plan to get.

(adsbygoogle = window.adsbygoogle || []).push({});
These are just the core sections that need to be covered in every business proposal, regardless of whether it is a small service business plan or one for a large retail outlet. Fortunately there are several professional services that can help you in your project.Consult a professional business proposal writing service if you have any doubts about the structure of the business plan.

How to Outline Your Financial Goals

People save and invest to improve their quality of life. However, it is easy to make mistakes that can cause stress and cost you money. You can avoid those mistakes and keep your investment on track by outlining your financial goals.

It is a common investment mistake for investors to have no idea why they are investing. So, you should ask yourself…

Why are you investing?

Do you know why you are investing? What are you going to do with your money? What is most important in your life?

“Making money” is not a good enough reason to invest. How do you see yourself spending your money in a year? Five years? Ten years? If you can clearly explain your goals, you have taken the first step toward making your own investment plan.

With that in mind, write down your financial goal. One simple sentence is all you need. For example, you can write “buy a home”, “pay for college,” “start a business,” or “retire as a millionaire!”

Next, write down the amount of money you think you will need to accomplish your goals.

Don’t worry about trying to fit in every little cost. You can always revisit your target later when you check your performance. Focus on your goal, and try to write down a target number.

This number will be different depending on your goal. For example, maybe you’re buying a $100,000 home, you may want to save $10,000 for a down payment. Maybe you need $5,000 to start a business or $50,000 to pay for college. If you don’t have much money to invest, you can make up for it by investing over a long period of time.

Finally, consider the importance of your investment goals. How important is your retirement, your kid’s college tuition, or your down payment on a house? The importance of your investment will give you an idea of your risk level.

Every investment has risks.

You don’t want to take too many risks. However, you need to take some risks to earn a reasonable return. Also consider the amount of time you will be invested. If you have more time to invest, you may be able to take risks and still catch up if you run into trouble.

Ask yourself if you are ready to invest before you move on. Be honest with yourself.

You may not need to invest your money. Would you be better off paying off your debt? Can you afford to just save your money rather than invest it? Make sure you can commit enough money and time to investing.

It is important to stay motivated toward your goals and keep them in mind when you invest. Every investment decision you make should move you closer to your goals. You should be willing to learn, improve, and work toward your goals as you invest.

If you can stay committed and keep that motivation toward your investment goals, you are much more likely to succeed!

A. Michael Hayes, Jr

You can learn more about how to achieve your financial goals at my website, Great-Mutual-Funds.com.

Choose Your Own Best Home Business Opportunity

You are not the only one in your look for the ideal and the best household undertaking opportunity. Many individuals from around the globe are in an indistinguishable way from you are, and like them, you will find that there are unlimited chances to look over.

Keep in mind this note of alert, however, before you dive ahead into your little entrepreneurial enterprise – If you don’t prepare, these best household undertaking openings will stay simple open doors. Likewise, don’t expect that money will simply begin streaming overnight. The best organizations are never chance free, and are never strong to time and change.

Presently, for you to have the capacity to transform the best household undertaking opportunity into a win, you have to buckle down and work keen.

With every one of these useful tidbits said and done, here are a few proposals for the best household venture openings that you can attempt to get your hands on. These were exceedingly prescribed enterprises due to their productivity and prevalence among the purchasers comfortable minute. Here they are:

* Infant and baby items and administrations

Individuals will undoubtedly have babies at one point in their lives and this is one industry that you can attempt your endeavors on. There are a considerable measure of things that unseasoned parents would for the most part need for their infant – garments, encouraging jugs, toys, material; and need for themselves – for new mothers, stylish child sacks, garments, shoes, among different frill, would be awesome hits. Diaper-recovery administrations and obviously, keeping an eye on is an absolute necessity for unexperienced parents also. You can have a decision to offer items or administrations by different organizations, or to market them for pay, or you can concoct your own particular item or administration. This is certainly one of the best household venture openings.

* Catering administrations

Envision your normal working mother getting back home from work at half past six toward the evening. She’s dead drained and whatever she can consider is requesting Chinese and after that falling into bed. Be that as it may, at that point she has a spouse, four children, and going by in-laws to sustain at seven o’clock sharp, in light of the fact that there’s an essential event. So think, what number of homemakers would value it if there would somebody say somebody is who can cook for them on examples, for example, these? In case you’re extraordinary at cooking, a providing food administration can be the best domestic undertaking open door for you. Incredible arranging and overseeing aptitudes would likewise observe you through with this sort of business.

* Cleaning administrations

Still on the local side of things, aside from watching the children and cooking dinners, another family unit errand that the normal American family wouldn’t see any problems with paying some person for, and which can be one of the best domestic undertaking open doors for you, is tidy up and de-mess their homes. So on the off chance that you have a practically fanatical impulsive approach at tidying and arranging things up, this could be your reason for living.

* Home redesign administrations

Surges, fierce blazes, tornadoes, hail. There’s horrible that you can get from these, you’ll say. Be that as it may, for some neighborhood entrepreneurs in view of states where fiascos, for example, these are normal, their appearance and the destruction that they cause are viewed as the best household venture openings. In case you’re an architect or someone who has a solid foundation on building and development, and can deal with a group, this employment may be quite recently your motivation in life.

These are quite recently a portion of the many household undertaking thoughts that will unquestionably guarantee you an extraordinary market, and an incredible benefit. Each of these employments needs some level of preparing and like we’ve specified before, you have to buckle down and work keen on the off chance that you need to see your business develop.

Characteristics of Modern Media Technology

Media has evolved a lot. Modern media depends on Technology to send information or gather them at a faster speed. The following are the characteristics:  

Speed: The information reaches at a faster speed.     

Reach: The information must have mass reach.  

Preventing Calamities: Modern media broadcasts 24 hours. So high technology is used to beat natural calamities.     

Constant Transmission: Technology is used for constant transmission.  

The following tools of technology is used to achieve the aforesaid targets:  

 

Use of Satellites: Satellite Technology is used to ensure constant transmission. A satellite hardly  gets affected by climatic conditions.     

Use of Video Conferencing: It is used to get live and personalized feedback without physical presence.  

Use of Television Conferencing: It is used to get audio inputs from far off places.  

Use of Internet: Internet is being relied upon for information.  

Use of high end Computer Technology: Computing and high speed processors are used for fast and able data processing.  

Use of Mobile Satellite Vans for News Coverage: Satellite vans are used for high mobility and anytime coverage.    

Use of high end Audio visual equipments: Use of high end audio visual equipments have emerged that leads to clear sound and picture. Tape recorders and high end video cameras are used by media persons to take interviews fast and transmit news ina proper and efficient manner.    

Thus these are the characteristics of Modern Media Technology that has made media more fast, accurate and improved and has made it an indispensable tool for protecting the  largest democracy of the world named India by making it more transparent and accountable to people. Hence these are the characteristics of modern media technology.