---------- Forwarded message ----------
From: Blogger <no-reply@blogger.com>
Date: Sat, 23 Jan 2016 06:34:51 +0000
Subject: [ENTREPRENEUR] 60 REASONS WHY YOU SHOULD BE AN ENTREPRENEUR TODAY.
To: danyrayofficial@gmail.com
Every entrepreneur has a different story about why he
or she decided to start a business. Some have known
from day one that they wanted to work for themselves
and others come up with ideas while working for someone else and decide to
take the entrepreneurial
leap.
Most business owners will agree on one thing -- being
an entrepreneur is great. There are endless reasons for
this, and every entrepreneur will have his or her own
personal reasons as well. Here are 60 reasons, in no
particular order, why I think entrepreneurship is amazing.
1. You have full control over your destiny. You call the
shots and make the decisions that ultimately
determine the success or failure of your business.
Nobody will get in the way of your vision.
2. Entrepreneurs are innovators. Think of all the new
technology and ideas that have come to life over the
past few years. Those were all once just an idea -- but
amazing entrepreneurs brought those ideas to life.
3. You become part of a family. The entrepreneurial
culture is almost like a big family -- and you won't
find a better group of people willing to offer advice and
help than fellow entrepreneurs.
4. You control who represents your brand. The team
you surround yourself with plays a major role in your
success -- you can assemble a team of like-minded
individuals that share your same drive and passion.
5. No dress code. CEO and Founder of Vivint, Todd
Pedersen, was sometime ago on the TV show Undercover
Boss and stated that he wears a company-branded
baseball hat daily. He is the boss -- he can wear
whatever he wants.
6. You have the opportunity to change lives. Have an
idea for a product or service that has the potential to
make a huge impact? Go for it -- nothing is stopping you!
7. You have full control over your workspace. Do you
excel in a creative environment? Want an office with dry-erase paint so you
can draw on the walls and a
full espresso bar to keep you full of caffeine? Make it
happen!
8. It provides a rush that is hard to duplicate. There is
no greater shot of adrenaline than the one you receive
after reaching a goal and knowing you worked
extremely hard to get to that point.
9. You serve as a role model. As an entrepreneur,
people will look up to you. You have the ability to be a
role model for family, friends, employees and
community members. Your success serves as
motivation and inspiration.
10. You will never be bored. There is always
something to do and you will more than likely always
have a mile long to-do list. Every day presents new
challenges and new opportunities to keep you on your toes.
11. Freedom to travel. Modern technology, remote
employees and the Internet allow you the freedom to
travel while still running your business. Being able to
see the world while creating an amazing company is a
realistic possibility.
12. There is no age barrier. Entrepreneurs are starting
at very young ages -- some straight out of college,
some while still in high school and even children as
young as 9 years old that want to create healthy
treats .
13. Your mind will always be utilized. Every single
decision that involves your business is your
responsibility, from the initial concept and branding to
the growth and goal setting.
14. The satisfaction of saying you're a business owner.
It is a great feeling to be able step back and say, "this
is my company," while proudly holding your head up.
Being an entrepreneur takes an incredible amount of
work -- those few words feel so good coming out of
your mouth.
15. Go cubicle free. Entrepreneurs have total freedom to roam, create,
delegate and work. There are no
cubicles or desks to be tied to all day.
16. No blame game. As an entrepreneur, there is no
finger-pointing when something goes wrong. Knowing every decision that I
make daily directly impacts my
business is the best kind of motivation.
17. You never feel undervalued. If you have ideas to
make the business better you can implement them
right away -- you don't have to hope that someone in
a higher position will give you the time of day and
listen to your suggestions.
18. Creating something from nothing. Every business
starts as an idea. You get to create it from the ground
up.
19. Opportunity to make a better mousetrap. Have an
idea to make something better or more efficient? Make
it happen!
20. Spend more time with family. Entrepreneurs with
children have the ability to adjust their schedules to
attend school functions and activities.
21. You get out what you put in. If you are willing to
work harder than anyone else, you will be rewarded
accordingly. Want to experience more growth and
opportunities? Simply work harder.
22. Provide opportunities for family members. Many
will say that mixing family and business partnerships
is a bad idea (and I agree) -- but this is less of an
issue when talking about an employer/employee
relationship.
23. Opportunity to give back. Owning a business gives
you the opportunity to support local charity events,
local schools and nonprofit organization. Being able to
make a difference in your community is a great feeling.
24. Become healthier. A flexible schedule allows you to
create a fitness routine and stick to it. Hit the gym early
in the morning, at lunch or in the evening -- whatever
works for you.
25. Enjoy your hobbies. As long as you "do the work"
and give 100 percent when in work mode, your free
time can be spent doing the things you love. Attend
more sporting events, play more rounds of golf or fish
more. Being an entrepreneur provides you with the
ability to enjoy your hobbies more.
26. You contribute to society. You can directly impact
society by introducing a service or product that people
use.
27. No more frantically checking the time. How many
times does the 9-to-5 crowd check the clock daily?
Often. As an entrepreneur your time management
balance is key. Your day ends when your tasks and
responsibilities are taken care of.
28. You report to nobody. There is no boss to report to
and you don't have to get expense requests approved.
If you want to do something you believe will help your
business there is no red tape to navigate through.
29. It'll be one of the biggest challenges you will face.
Leading a company and team members on a growth
path is a huge challenge. The obstacles you face
along the way will provide you with an experience you
won't find anywhere else.
30. No career hamster wheel. Imagine doing the same
thing every day for as long as you work. Thankfully, as
an entrepreneur you don't have to worry about this --
you wear multiple hats and play a variety of roles.
Related: Passion, Freedom and Impact: The 3
Ingredients of Business Success.
31. The ability to pivot. If your business model slows
down, you have the freedom to pivot. Think of how
many businesses died because of the Internet. The
ones with good leaders simply pivoted and made
adjustments to survive.
32. You get to work with brilliant minds. As an
entrepreneur you will connect with extremely intelligent
people from all over the world. You encounter brilliant
minds on your team and through business
relationships.
33. Create a legacy. Creating a successful brand to the
point where it leaves a personal legacy behind is
appealing and serves as motivation for many
entrepreneurs.
34. Turn your passion and beliefs into a business. Are
you passionate about health and fitness? Become a
nutritional consultant or open a gym. You have the
ability to create a business as well as impact people
through your passions and beliefs.
35. You can make people happy. There is a good
chance you own an Apple product -- an iPhone,
MacBook, iMac, iPod or iPad. These products bring a
smile to faces of millions every single day. Sure, Apple
is making billions of dollars, but they are also making
their customers happy.
36. You will never hit a ceiling. Some jobs have a
growth cap and you can only advance so far. When
you are an entrepreneur, there is no growth ceiling.
37. Earn a living doing what you love. Let's face it,
money is important. When you are able to make a
comfortable living doing what you love it's a win-win
situation.
38. Feeling appreciated is great. It's a great feeling
when you receive an email or phone call from someone
that took time out of his or her day to let you know
that your business impacted them in a positive way.
39. Build your own security. It doesn't get any more
secure than controlling your own destiny. You will
never stress about having the wrong person in charge
of a business.
40. You get to constantly learn. As an entrepreneur you
are always learning lessons -- sometimes the hard
way. It is a priceless education that you can't get in a
classroom.
41. Eliminate downsizing or layoff fears. Businesses
make cuts and lay off employees daily. That can be
extremely stressful. When you become an entrepreneur
this fear doesn't exist.
42. Bad days could always be worse. A bad day as an
entrepreneur is better than a bad day working for
someone else.
43. No degrees or pieces of paper stand in your way.
You don't have to have a degree from any school to start a business. In
fact, some of the most successful tech billionaires dropped out of college .
44. You get to push the envelope. There are no
boundaries -- create, invent and disrupt as you wish.
This is how brilliant ideas are born.
45. Satisfy your personal curiosity. Most entrepreneurs
are curious -- will my idea work? Can I grow this into
a sustainable business? Can I be a good leader?
46. No more boring meetings. Gone are the days of
boring meetings -- now, if you are in a boring meeting,
you have nobody to blame but yourself.
47. Media and press acknowledgement. When your
company receives media coverage and validation it is
extremely satisfying. Recognition for the hard work you put in helps fuel
your inner fire.
48. You become a provider. As an entrepreneur you will
become a provider for many. Your employees will
depend on your leadership and decision-making, as it
will directly impact their livelihood and well-being.
49. Create your own corporate culture. You get to
create a corporate culture based on your beliefs. Want
to allow your employees to work from home on
Fridays? How about providing in-office daycare to
allow your employees to bring their children to work?
You get to develop the corporate culture that you
believe will provide the best environment for success
and excellence.
50. Experience personal growth. It is a great feeling
when you look back and see how much you have
grown as an individual. The growth and success of a
business is often directly related to the personal
growth of the entrepreneur behind it.
51. You become an expert problem solver. As a
business owner you become very resourceful and over
time you will learn to overcome anything and solve any
problem placed in front of you.
Advertisement
52. It never feels like work. Some might disagree -- but
that just means they haven't found what they truly love
to do. Once you do find that you will never refer to
what you do as work.
53. Even learning disabilities can't stop you. Johnny
Earle, the creator of the brand Johnny Cupcakes , is
proof that not even a learning disability can stop an
entrepreneur from succeeding. If you don't know
Johnny's story search online.
54. Endless life experiences. You get to travel to new
places and interact with different people all the time.
What some might see as just a business conference,
you see as an opportunity to visit a new part of the
world and meet people you would never have met
otherwise.
55. You develop an iron jaw. You are going to get hit
and knocked down. Learning to take the punches and
continuing to get up turns you into a stronger business
owner and individual.
56. You get to walk on the wild side. When you put
your own livelihood and finances on the line because
you believe in something 100 percent, it becomes an
extreme rush.
57. You conduct your own performance review. Sales,
company morale, growth and customer feedback can
all be used to judge your performance -- not some
person with a clipboard and a generic Q&A review test.
58. You can get competitive with yourself.
Entrepreneurs are competitive by nature. The goal is to
constantly improve and grow, so turn it into a personal
competition. Can you make more business contacts
today than you did yesterday? Can you motivate your
sales team to crush the numbers from yesterday?
59. It enables you to dream big. No idea is too crazy
and no goal is too big when you are an entrepreneur
-- you can dream as big as you want!
60. You don't have to be lucky. Luck has nothing to
do with being successful. Thinking it is just an
excuse that prevents you from achieving success.
JONATHAN LONG
CONTRIBUTOR
Founder and CEO, Market Domination Media and edited by RIWO DANIEL
Founder and CEO Danyray foundation.
You are the only reason why you are still on that spot...make a move today,
meet me @ the top
What are some other reasons why you became an
entrepreneur or why you are striving to become an
entrepreneur in the future? Share your thoughts in the
comments section below.
--
Posted By Blogger to ENTREPRENEUR on 1/22/2016 10:34:00 pm
Tuesday, 29 March 2016
[ENTREPRENEUR] 10 secret mindsets of multimillionaires
---------- Forwarded message ----------
From: Blogger <no-reply@blogger.com>
Date: Sun, 31 Jan 2016 11:58:42 +0000
Subject: [ENTREPRENEUR] 10 secret mindsets of multimillionaires
To: danyrayofficial@gmail.com
I have a ton of rich friends who've wanted me to write this for a long time.
" I was chatting with future
billionaire, Josh McAfee (Founder of McAfee Institute), who told me how to
build a billion-dollar company. Like
many of my wealthy comrades,
he couldn't stop talking about the mindset of being a multi-millionaire.
Kenneth Cole, the famous fashion designer, told me that sticking with your
gut is the key to building a sustainable business. Kevin O'Leary (the Shark
Tank star) showed me the value of
holding only profitable relationships. Burt Jacobs, co-founder of Life is
Good
apparel, advised me to communicate my
expectations to all my key stakeholders.
Kat Cole, the CEO of Cinnabon, told me to try everything--but only stick to
what
works best. Marcus Lemonis, TV Star of The Profit, showed me how using your
gifts can take you anywhere. Kevin Plank, founder and CEO of Under Armour,
sold me on why I should only focus on selling
my best products.
I can go on with the advice I've heard from all my wealthy friends, but as
a multi-millionaire myself, I would like to sum up my own version of how to
make it big in business:
1. Build Something Bigger Than
Yourself
Most people want success for
themselves, not other people. They want to win all the awards, be on the
magazines, and earn millions of dollars. Having all of this is fine, but
you must select a cause that is bigger than
yourself. You need to understand that your purpose is greater than you. This
will attract more success, instead of repel it.
A selfless leader will focus on growing others, which in turn will grow
themselves. As a hobby, I exercise often
by jogging and lifting weights. I find that when I help others exercise, I
become stronger and faster than I would if I did it
all myself. Helping others takes the same amount of time that it does to
help yourself. Those who want to be rich must enrich others first.
2. Align Yourself with Experts
Every multi-millionaire has a team of experts that gives them strategic
advice. While everyone has an opinion,
you only want to listen to the best. I see so many people listening to the
wrong
people, which later leads them to devastating results. Find experts in your
industry that dominate and befriend them
if you can.
Hiring an executive coach is the greatest way to get to the next level. A
friend
might say, "You should do more push-ups", but a coach will show how it makes
you stronger, which motivates you to action. Find a paragon who can
identify with your needs. Most executive coaches
charge anywhere from 10 to 20
percent of your yearly income, which is often easy to pay if you follow
their
advice.
3. Create Systems that Leverage
Multi-millionaires cannot do it all alone. They have systems and processes
that allow them to leverage their gifts
and abilities. There's always a better and faster way to get things done.
If you create a system of success for yourself,
it will eventually serve you. However, it must be your system, not someone
else's. Every day, I have certain habits, devices, and systems that I use
to help me operate more efficiently.
I used to think that I had to wake up at a certain time to
be successful, but I realized that my peak time of productivity is from 10
pm
to 4 am. I go to sleep ridiculously late and have found many benefits in
doing
so. The 5 am wake-up club doesn't work for everyone. You must find a system
that works for you.
4. Marketing and Sales
Marketing spreads the message of what you're about, and sales is getting
people
to buy that message. Marketing helps you to build your credibility and sales
happens when people trust your reputation. Marketing is the spinal cord to
your business and sales is the
vertebrae. If you want strong "backing,"
you must master both of these major skills.
Multi-millionaires are experts at marketing and sales. Their skills deftly
lead them to high positions and allow them to enjoy the best of life. In
this
world, you can either sell or you'll be sold.
You might as well learn what the marketplace wants and then find a way to
strategically deliver what it needs. In
short, find a product to sell (sales) and have a story to tell (marketing).
5. Make Quick Decisions
Every day, we all make a multitude of decisions. However, the richest people
make them fast because they know themselves better. Most people have never
been taught how to make decisions. Instead, they look for people
who can make it for them. This is why only 10 percent of people in the
world are
entrepreneurs who control 90 percent of the workforce.
Making quick decisions can help you to becoming wealthy. A man recently
told me that he couldn't partake in a certain
event because he didn't know what to do.
Rather than deciding, he gave me a few excuses and was momentarily off the
hook. If he was a multi-millionaire, he would have boldly decided and told
me
whether he could make the event or not.
Make decisions, not excuses.
6. Manage Your Priorities
Prioritizing means doing first what matters most. Dozens of tasks may be
calling your name each day, but you
must only undertake the ones that give you the most reward. You must
develop a habit to consistently delegate or
eliminate activities that take up your time, energy, and money. Your time
is finite.
What are your main priorities in 2016?
How are you going to make it
happen?
Your goals better be as big as
you can make them. Most people set goals that are too small. A small
increase
in income won't suffice for aspiring multi-millionaires. Instead, raise
your goal
substantially by seeking to quadruple your rate of business. Whatever your
goal
is, your mind will find a way to do it.
7. Produce Relentlessly
On weeknights, weekends, and holidays, 98 percent of people take time to
rest, which is utterly foolish! Surely, you do
need to rest, but you must produce, too.
Don't selfishly squander your precious time when there are so many people
that need your help! Do you realize that your
true happiness comes from the work you produce?
A famous NBA player confided to me that he cannot go a day without shooting
1,000 shots. Every day, he
affirms, "Basketball is my purpose in life."
He cannot stand missing the
playoffs; otherwise, he feels like a failure.
That's why he's a champion. Attaching yourself to your purpose is the
secret to
becoming a multi-millionaire. Best advice: Mix business with pleasure.
8. Serve People
Surprisingly, most multi-millionaires don't do it for the money. If they
did do it for
the money, they would have
stopped after their first million or so. Truly, they do it for the people.
They understand that people come first. When
you serve people, the profit will come. It's a law that automatically
applies itself.
I used to laugh at people who worked without pay (aka, volunteers).
Now, that's all I do. When I wake up, my first question is usually, "How do
I add
more value to more people in less time?" not, "How do I make money today?"
At the end of the day, I always find a stack
of checks at my desk awaiting my signature for processing. These checks
come from my service.
9. Continuous Improvement
If you want to change the world, you need to consume a lot of knowledge and
make rapid changes. You need to start reading books and implementing the
ideas you learn. Most of my wealthy
friends routinely read 2 hours per day at a minimum--and they're not
reading the
easy stuff either. They're pounding the textbooks and taking notes.
When you're beginning work each day, ask yourself, "How can I improve?" If
there is a skill that you must learn, learn
it. Most people are one skill away from being a massive success. If you
want to
become a multi-millionaire, you need to get serious about self-improvement
and adopt changes in your personal and professional life on a daily basis.
10. Get Feedback
I'll never forget what Jack Canfield told me at a conference in which we
shared the stage. As he pulled me aside, he gave me his serious
tone: "Daniel, the major difference between bestselling authors and amateur
authors is one thing: Feedback." This was his secret to selling millions of
books over the last two decades.
Obtaining feedback is instrumental if you want to grow a successful
business.
Sometimes, great feedback can come from anywhere. It can come from your
spouse, kids, neighbor, or even your mother! Often times, it comes from
your worst critics, who give you the deepest version of what you need to
change.
Wherever you get your feedback, make the necessary changes.
To become a multi-millionaire, you must cultivate these 10 secret mindsets
of multi-millionaires. If you do, people will notice your work and supply
you with the help you need. There's no limit to what you can accomplish
with a deep purpose and faith in something greater than yourself.
This is at the forefront of becoming a multi-millionaire. Remember,serve
people and profit will come.
--
Posted By Blogger to ENTREPRENEUR on 1/31/2016 03:58:00 am
From: Blogger <no-reply@blogger.com>
Date: Sun, 31 Jan 2016 11:58:42 +0000
Subject: [ENTREPRENEUR] 10 secret mindsets of multimillionaires
To: danyrayofficial@gmail.com
I have a ton of rich friends who've wanted me to write this for a long time.
" I was chatting with future
billionaire, Josh McAfee (Founder of McAfee Institute), who told me how to
build a billion-dollar company. Like
many of my wealthy comrades,
he couldn't stop talking about the mindset of being a multi-millionaire.
Kenneth Cole, the famous fashion designer, told me that sticking with your
gut is the key to building a sustainable business. Kevin O'Leary (the Shark
Tank star) showed me the value of
holding only profitable relationships. Burt Jacobs, co-founder of Life is
Good
apparel, advised me to communicate my
expectations to all my key stakeholders.
Kat Cole, the CEO of Cinnabon, told me to try everything--but only stick to
what
works best. Marcus Lemonis, TV Star of The Profit, showed me how using your
gifts can take you anywhere. Kevin Plank, founder and CEO of Under Armour,
sold me on why I should only focus on selling
my best products.
I can go on with the advice I've heard from all my wealthy friends, but as
a multi-millionaire myself, I would like to sum up my own version of how to
make it big in business:
1. Build Something Bigger Than
Yourself
Most people want success for
themselves, not other people. They want to win all the awards, be on the
magazines, and earn millions of dollars. Having all of this is fine, but
you must select a cause that is bigger than
yourself. You need to understand that your purpose is greater than you. This
will attract more success, instead of repel it.
A selfless leader will focus on growing others, which in turn will grow
themselves. As a hobby, I exercise often
by jogging and lifting weights. I find that when I help others exercise, I
become stronger and faster than I would if I did it
all myself. Helping others takes the same amount of time that it does to
help yourself. Those who want to be rich must enrich others first.
2. Align Yourself with Experts
Every multi-millionaire has a team of experts that gives them strategic
advice. While everyone has an opinion,
you only want to listen to the best. I see so many people listening to the
wrong
people, which later leads them to devastating results. Find experts in your
industry that dominate and befriend them
if you can.
Hiring an executive coach is the greatest way to get to the next level. A
friend
might say, "You should do more push-ups", but a coach will show how it makes
you stronger, which motivates you to action. Find a paragon who can
identify with your needs. Most executive coaches
charge anywhere from 10 to 20
percent of your yearly income, which is often easy to pay if you follow
their
advice.
3. Create Systems that Leverage
Multi-millionaires cannot do it all alone. They have systems and processes
that allow them to leverage their gifts
and abilities. There's always a better and faster way to get things done.
If you create a system of success for yourself,
it will eventually serve you. However, it must be your system, not someone
else's. Every day, I have certain habits, devices, and systems that I use
to help me operate more efficiently.
I used to think that I had to wake up at a certain time to
be successful, but I realized that my peak time of productivity is from 10
pm
to 4 am. I go to sleep ridiculously late and have found many benefits in
doing
so. The 5 am wake-up club doesn't work for everyone. You must find a system
that works for you.
4. Marketing and Sales
Marketing spreads the message of what you're about, and sales is getting
people
to buy that message. Marketing helps you to build your credibility and sales
happens when people trust your reputation. Marketing is the spinal cord to
your business and sales is the
vertebrae. If you want strong "backing,"
you must master both of these major skills.
Multi-millionaires are experts at marketing and sales. Their skills deftly
lead them to high positions and allow them to enjoy the best of life. In
this
world, you can either sell or you'll be sold.
You might as well learn what the marketplace wants and then find a way to
strategically deliver what it needs. In
short, find a product to sell (sales) and have a story to tell (marketing).
5. Make Quick Decisions
Every day, we all make a multitude of decisions. However, the richest people
make them fast because they know themselves better. Most people have never
been taught how to make decisions. Instead, they look for people
who can make it for them. This is why only 10 percent of people in the
world are
entrepreneurs who control 90 percent of the workforce.
Making quick decisions can help you to becoming wealthy. A man recently
told me that he couldn't partake in a certain
event because he didn't know what to do.
Rather than deciding, he gave me a few excuses and was momentarily off the
hook. If he was a multi-millionaire, he would have boldly decided and told
me
whether he could make the event or not.
Make decisions, not excuses.
6. Manage Your Priorities
Prioritizing means doing first what matters most. Dozens of tasks may be
calling your name each day, but you
must only undertake the ones that give you the most reward. You must
develop a habit to consistently delegate or
eliminate activities that take up your time, energy, and money. Your time
is finite.
What are your main priorities in 2016?
How are you going to make it
happen?
Your goals better be as big as
you can make them. Most people set goals that are too small. A small
increase
in income won't suffice for aspiring multi-millionaires. Instead, raise
your goal
substantially by seeking to quadruple your rate of business. Whatever your
goal
is, your mind will find a way to do it.
7. Produce Relentlessly
On weeknights, weekends, and holidays, 98 percent of people take time to
rest, which is utterly foolish! Surely, you do
need to rest, but you must produce, too.
Don't selfishly squander your precious time when there are so many people
that need your help! Do you realize that your
true happiness comes from the work you produce?
A famous NBA player confided to me that he cannot go a day without shooting
1,000 shots. Every day, he
affirms, "Basketball is my purpose in life."
He cannot stand missing the
playoffs; otherwise, he feels like a failure.
That's why he's a champion. Attaching yourself to your purpose is the
secret to
becoming a multi-millionaire. Best advice: Mix business with pleasure.
8. Serve People
Surprisingly, most multi-millionaires don't do it for the money. If they
did do it for
the money, they would have
stopped after their first million or so. Truly, they do it for the people.
They understand that people come first. When
you serve people, the profit will come. It's a law that automatically
applies itself.
I used to laugh at people who worked without pay (aka, volunteers).
Now, that's all I do. When I wake up, my first question is usually, "How do
I add
more value to more people in less time?" not, "How do I make money today?"
At the end of the day, I always find a stack
of checks at my desk awaiting my signature for processing. These checks
come from my service.
9. Continuous Improvement
If you want to change the world, you need to consume a lot of knowledge and
make rapid changes. You need to start reading books and implementing the
ideas you learn. Most of my wealthy
friends routinely read 2 hours per day at a minimum--and they're not
reading the
easy stuff either. They're pounding the textbooks and taking notes.
When you're beginning work each day, ask yourself, "How can I improve?" If
there is a skill that you must learn, learn
it. Most people are one skill away from being a massive success. If you
want to
become a multi-millionaire, you need to get serious about self-improvement
and adopt changes in your personal and professional life on a daily basis.
10. Get Feedback
I'll never forget what Jack Canfield told me at a conference in which we
shared the stage. As he pulled me aside, he gave me his serious
tone: "Daniel, the major difference between bestselling authors and amateur
authors is one thing: Feedback." This was his secret to selling millions of
books over the last two decades.
Obtaining feedback is instrumental if you want to grow a successful
business.
Sometimes, great feedback can come from anywhere. It can come from your
spouse, kids, neighbor, or even your mother! Often times, it comes from
your worst critics, who give you the deepest version of what you need to
change.
Wherever you get your feedback, make the necessary changes.
To become a multi-millionaire, you must cultivate these 10 secret mindsets
of multi-millionaires. If you do, people will notice your work and supply
you with the help you need. There's no limit to what you can accomplish
with a deep purpose and faith in something greater than yourself.
This is at the forefront of becoming a multi-millionaire. Remember,serve
people and profit will come.
--
Posted By Blogger to ENTREPRENEUR on 1/31/2016 03:58:00 am
Saturday, 19 March 2016
MEET THE CEO OF -THE DANYRAY GROUP - RIWO DANIEL RIWO
We present to you our own
RIWO DANIEL RIWO.
DANYRAY as he is widely known hails from the northern part of cross
river state .
He is the second child/son in his family.
He is a public speaker, writer, Ceo, director of many brands amongst others...
He is the founder and chief executive officer of THE DANYRAY GROUP.
He is currently the CEO of THE DANYRAY FOUNDATION, an online based
foundation that deals with promoting and supporting young
entrepreneurs, this vision was born out of his passion for
entrepreneurship and a passion to serve, he wants to help groom
youths with positive mindsets.
DANYRAY believes in starting NOW no matter how small.
He is currently the CEO OF THE DANYRAY GROUP (DANYRAY FOUNDATION), MD
MALABRESSGIST.COM , MD CRUTECHURBAN.COM and also a board member/
director of numerous brands.
You can hook up with him on social media via his handles
FACEBOOK: DANIEL RIWO
TWITTER: OLUWADANY
INSTAGRAM: OLUWADANYRAY
WHATSAPP: 08113455975
RIWO DANIEL RIWO.
DANYRAY as he is widely known hails from the northern part of cross
river state .
He is the second child/son in his family.
He is a public speaker, writer, Ceo, director of many brands amongst others...
He is the founder and chief executive officer of THE DANYRAY GROUP.
He is currently the CEO of THE DANYRAY FOUNDATION, an online based
foundation that deals with promoting and supporting young
entrepreneurs, this vision was born out of his passion for
entrepreneurship and a passion to serve, he wants to help groom
youths with positive mindsets.
DANYRAY believes in starting NOW no matter how small.
He is currently the CEO OF THE DANYRAY GROUP (DANYRAY FOUNDATION), MD
MALABRESSGIST.COM , MD CRUTECHURBAN.COM and also a board member/
director of numerous brands.
You can hook up with him on social media via his handles
FACEBOOK: DANIEL RIWO
TWITTER: OLUWADANY
INSTAGRAM: OLUWADANYRAY
WHATSAPP: 08113455975
Wednesday, 16 March 2016
100 small scale businesses you can run in Nigeria
Are you searching for hot and profitable business ideas in Nigeria ?
Then you have come to the right place.
I have noticed that contrary to what most people think, capital is not
the greatest challenge of starting a business ; the greatest challenge
is getting a very good business idea.
If you have capital and have no solid
business idea in place, then there is a huge probability that you
would end up wasting your resources by investing in a business that
wouldn't bring you attractive returns.
This is why every potential business owner must take out the time to
research profitable business ideas before they invest in them.
To make it easier for you, we have analyzed 100 hot small scale
businesses guaranteed
to bring you huge profit in Nigeria.
1. Quail Bird Farming
2. Catering Services(Indoor and Outdoor)
3. Mobile food Vending
4. Computer Training Centre
5. Computer Repair and Accessories
Sales.
6. Mobile Phone Sales and Repairs
7. Rental Services
8. Food Processing
9. Cement Sales and Distribution
10. Frozen food Sales
11. Pure and Bottled Water Production
12. Livestock Farming
13. Poultry Farming
14. Used Car Sales
15. Social Media Marketing
16. Blogging
17. Freelance Writing
18. Mini-Importation
19. Exportation
20. Cooking Gas Sales
21. Recruitment Agency
22. Uniform Making factory
23. Ready-to-wear cloths making
24. Haulage and Logistics
25. Transportation
26. Online Marketing
27. Bulk SMS Services
28. Daycare Centre/Crèche
29. Small Scale Manufacturing
30. Scrap metal sales
31. Waste Management Services
32. Pet Breeding
33. Animal feed production
34. Ethanol Production
35. Software and games development
36. Security gadget sales
37. Cleaning Services
38. Recharge Card Printing and Sales
39. Sports Viewing Centers
40. Sports Betting Agency
41. Building Blocks Production.
42. Art Gallery
43. Ice Cream Production
44. Jewelry making
45. Travel agency
46. Natural Fruit Juice Production
47. Photography and Videography
48. Magazine Publication
49. Monogramming and Branding Services
50. Weight Loss Consultancy
51. Biscuit Production
52. Printing and Book Production
53. Private Library Services
54. Hairdressing Salon
55. Day Spa
56. Nail Studio( Manicure and Pedicure)
57. Selling Fruits
58. Selling honey
59. Affiliate marketing
60. Personal Fitness Instructor
61. Business broker
62. Car Wash and Detailing Services
63. Dating Service
64. Make-up Artist
65. Video game Center
66. Pharmaceutical company
67. Stock Photography
68. Art brokerage
69. Resume writing
70. Online Vitamin/Health Food Store
71. Virtual assistant
72. Pest control
73. Car Rentals
74. Nanny agency
75. Mail-order business
76. Ice block production
77. Night Clubs and Restaurants
78. Solar energy installation and
equipment sales
79. Antique Furniture Sales
80. Laundry Service
81. Virtual Call Center
82. SEO Consultant
83. Gift Baskets
84. Disc Jockey (DJ)
85. Personal Shopper & Errand Service
86. Wine Production
87. Sports Collectible Shop
88. Funeral Arrangement Company
89. Oil Palm Plantation
90. Internet Radio Station
91. Online Clothing Store
92. Modeling and Event Ushering
93. Marketer/PR Agent
94. Fashion Stylist
95. Automobile Repairs and Fleet
Management Services
96. Facility Management Services
97. Appliance Repair Service
98. House Painting
99. Alternative Power Supply
100. Security Gadget Sales and
Installations.
source - Nigerian finder
if you need help on how to start up ,manage any of the above listed
businesses you can contact us via our mail
danyrayofficial@gmail.com
Then you have come to the right place.
I have noticed that contrary to what most people think, capital is not
the greatest challenge of starting a business ; the greatest challenge
is getting a very good business idea.
If you have capital and have no solid
business idea in place, then there is a huge probability that you
would end up wasting your resources by investing in a business that
wouldn't bring you attractive returns.
This is why every potential business owner must take out the time to
research profitable business ideas before they invest in them.
To make it easier for you, we have analyzed 100 hot small scale
businesses guaranteed
to bring you huge profit in Nigeria.
1. Quail Bird Farming
2. Catering Services(Indoor and Outdoor)
3. Mobile food Vending
4. Computer Training Centre
5. Computer Repair and Accessories
Sales.
6. Mobile Phone Sales and Repairs
7. Rental Services
8. Food Processing
9. Cement Sales and Distribution
10. Frozen food Sales
11. Pure and Bottled Water Production
12. Livestock Farming
13. Poultry Farming
14. Used Car Sales
15. Social Media Marketing
16. Blogging
17. Freelance Writing
18. Mini-Importation
19. Exportation
20. Cooking Gas Sales
21. Recruitment Agency
22. Uniform Making factory
23. Ready-to-wear cloths making
24. Haulage and Logistics
25. Transportation
26. Online Marketing
27. Bulk SMS Services
28. Daycare Centre/Crèche
29. Small Scale Manufacturing
30. Scrap metal sales
31. Waste Management Services
32. Pet Breeding
33. Animal feed production
34. Ethanol Production
35. Software and games development
36. Security gadget sales
37. Cleaning Services
38. Recharge Card Printing and Sales
39. Sports Viewing Centers
40. Sports Betting Agency
41. Building Blocks Production.
42. Art Gallery
43. Ice Cream Production
44. Jewelry making
45. Travel agency
46. Natural Fruit Juice Production
47. Photography and Videography
48. Magazine Publication
49. Monogramming and Branding Services
50. Weight Loss Consultancy
51. Biscuit Production
52. Printing and Book Production
53. Private Library Services
54. Hairdressing Salon
55. Day Spa
56. Nail Studio( Manicure and Pedicure)
57. Selling Fruits
58. Selling honey
59. Affiliate marketing
60. Personal Fitness Instructor
61. Business broker
62. Car Wash and Detailing Services
63. Dating Service
64. Make-up Artist
65. Video game Center
66. Pharmaceutical company
67. Stock Photography
68. Art brokerage
69. Resume writing
70. Online Vitamin/Health Food Store
71. Virtual assistant
72. Pest control
73. Car Rentals
74. Nanny agency
75. Mail-order business
76. Ice block production
77. Night Clubs and Restaurants
78. Solar energy installation and
equipment sales
79. Antique Furniture Sales
80. Laundry Service
81. Virtual Call Center
82. SEO Consultant
83. Gift Baskets
84. Disc Jockey (DJ)
85. Personal Shopper & Errand Service
86. Wine Production
87. Sports Collectible Shop
88. Funeral Arrangement Company
89. Oil Palm Plantation
90. Internet Radio Station
91. Online Clothing Store
92. Modeling and Event Ushering
93. Marketer/PR Agent
94. Fashion Stylist
95. Automobile Repairs and Fleet
Management Services
96. Facility Management Services
97. Appliance Repair Service
98. House Painting
99. Alternative Power Supply
100. Security Gadget Sales and
Installations.
source - Nigerian finder
if you need help on how to start up ,manage any of the above listed
businesses you can contact us via our mail
danyrayofficial@gmail.com
Saturday, 12 March 2016
Solutions to some of the challenges faced by Nigerian entrepreneurs
There are myriads of problems facing the Nigerian
entrepreneur. Attempting to mention them all will lead
to an endless discussion. Among the various
challenges facing Nigerian entrepreneurs, the following
are obvious.
1. Security Issues - When there is no guarantee of
security of lives and properties, it is difficult to run a
successful venture.
2. Unstable Political System - The various crisis
rocking the various governments at the three tier of
government causes uncertainty and increases the risk
associated with investments.
3. Energy Crisis - This need no further explanation. So
many manufacturing firms have shut down due to their
inability to compete with foreign products. The reason
is not far fetched, it is expensive running a factory
with generators. In organized societies, generators are
used as back-up plants to avoid distruptions in
production process whenever there is power failure.
The reverse is the case in Nigeria. Generators are the
main source of electricity for all and sundry. Constant
electricity supply is still a fairy tale.
4. Poor Transportation System - The transportation
system in Nigeria is quite poor. The roads are full of
potholes, the railway system is not functioning
anymore, the waterway is undeveloped while the air
transport system is in crisis. It is therefore expensive
moving both raw materials as well as finished
products from one point to another.
There are several others, but I believe that if these ones
are tackled first, the situation will greatly improve. The
unfortunate thing is that most of these problems are
not issues that can be tackled by the private sector. We
simply need to get good leaders who are
knowledgeable and are committed to the welfare of
Nigeria into leadership positions at the various tiers of
government. Starting from the local government level
to the Federal.
entrepreneur. Attempting to mention them all will lead
to an endless discussion. Among the various
challenges facing Nigerian entrepreneurs, the following
are obvious.
1. Security Issues - When there is no guarantee of
security of lives and properties, it is difficult to run a
successful venture.
2. Unstable Political System - The various crisis
rocking the various governments at the three tier of
government causes uncertainty and increases the risk
associated with investments.
3. Energy Crisis - This need no further explanation. So
many manufacturing firms have shut down due to their
inability to compete with foreign products. The reason
is not far fetched, it is expensive running a factory
with generators. In organized societies, generators are
used as back-up plants to avoid distruptions in
production process whenever there is power failure.
The reverse is the case in Nigeria. Generators are the
main source of electricity for all and sundry. Constant
electricity supply is still a fairy tale.
4. Poor Transportation System - The transportation
system in Nigeria is quite poor. The roads are full of
potholes, the railway system is not functioning
anymore, the waterway is undeveloped while the air
transport system is in crisis. It is therefore expensive
moving both raw materials as well as finished
products from one point to another.
There are several others, but I believe that if these ones
are tackled first, the situation will greatly improve. The
unfortunate thing is that most of these problems are
not issues that can be tackled by the private sector. We
simply need to get good leaders who are
knowledgeable and are committed to the welfare of
Nigeria into leadership positions at the various tiers of
government. Starting from the local government level
to the Federal.
Thursday, 10 March 2016
How to prepare a successful business plan
My present research has shown that many are still in ignorance of how to write a
leading business plan. It is a necessity that every businessman
requires so as to
market his business to investors. Thus, I took a tour to get a sample
guide for all
entrepreneurs. I belief that its benefit will for you good.
Sample Business Plan Template
<<Company Logo>>
<<Company Name>>
Business plan
<<Prepared by:__________________>>
<<Date>>
Table of Contents
Page
Confidentiality Agreement ii
Executive Summary 1
Company Description 2
Promoters, shareholders and Board 2
Advisors 2
Products and services 2
Long Term Aim of Business 2
Objectives 2
S.W.O.T. Analysis 2
Market Analysis 3
Target market 3
Total market valuation 3
Targeted share 3
Market trends 3
Profile of competitors 3
Competitive advantage 4
Benefits to clients 4
Marketing/Sales Strategy 5
Income sources 5
Marketing strategy 5
Pricing 5
Advertising and Promotion 5
Sales Strategy 6
Research & Development 7
Patents, copyrights and brands 7
Product/Service Development 7
R&D 7
Staffing and Operations 8
Management Organisation Charts 8
Staffing 8
Training Plans 8
Operations 8
Financial Projections 9
Key Assumptions 10
Profit and Loss Accounts 11
Balance Sheets 12
Cashflow Projections 13
Sales Pipeline 14
Funding Requirements 15
Appendices 16
Confidentiality Agreement
The undersigned reader acknowledges that the information provided in this
business plan is confidential; therefore, the reader agrees not to
disclose it without
the express written permission of <<Company/Promoter>>.
It is acknowledged by the reader that information to be furnished in
this business
plan is in all respects confidential in nature, other than information
that is in the
public domain through other means, and that any disclosure or use of this
confidential information by the reader may cause serious harm or damage to
<<Company>>.
Upon request, this document is to be immediately returned to <<Company/
Promoter>>.
Signature
Name (printed)
Date
This is a business plan. It does not imply offering of securities.
1. Executive Summary
<< Introduce promoters here, and the reason you are now preparing this Business
Plan.
This section should not be completed until the business plan is
written. It will
highlight all milestones in the company's development over the next
five years. It
should sum up the following areas:
Purpose of the plan
Product or service and its advantages
Market opportunity
Management team
Track record, if any
Financial projections
Funding requirements
Financial projections should be summarised and highlighted. The
following format
is suggested as a guide:
Year 1Year 2Year 3SalesExportsNet Profit before TaxInvestmentEmployment
Remember that potential investors often make a provisional judgement based on
the executive summary, and that their decision to read the main body of the
business plan will depend on the information presented here. The appendices at
the back of the plan contain more detailed information to support the
main text of
the business plan. >>
2. Company Description
Promoters and Shareholders
<< Description of the people involved in starting the business:
Promoters
Management structure and areas of responsibility
Shareholders names, no. of shares, % shareholding and cash investment to date
Advisors
<< Financial, legal, and other advisors should be listed, with names,
addresses and
contact details. >>
Products and services
<< Explain clearly what your product or service is and what it does.
Background to its development
Benefits and Features
Unique selling points
Advantages to customers
Disadvantages or weak points
Future developments >>
Long Term Aim of the Business
<< State the long-term aim of the new business. >>
Objectives
<< State the specific milestones to be achieved by the company over
the next five
years (sales, exports, employment, product development, etc). >>
SWOT Analysis
<< Analyse the strengths and weaknesses of the business and product or service,
the opportunities that exist in the marketplace, and the threats to
the viability of
the project. This is best done in a matrix diagram as follows:
Strengths
Weaknesses
Opportunities
Threats
>>
3. Market Analysis
<< This section covers market research and competitor analysis. You must show
that you have done the market research to justify the projections made in your
business plan. It must demonstrate that there is a viable market and
that you can
beat the competition in the market for sales. >>
Target Market
<< The market to which you are planning to sell the product or
service. Analyse the
segments of this market as follows:
Size of each market segment
Is the segment growing or declining?
Characteristics of potential customers in each segment >>
Total Market Valuation
<< Show the total potential value of the market for this type of
product or service,
in all the targeted markets, domestic and international. >>
Target Company revenue
<< These figures are the basis for the sales figures in your financial
projections
and must be based on realistic assessments. Include average deal size, length of
sales cycle, recurring revenues>>
Market Trends
<< Analyse what is happening in the market:
Recent changes
Future predictions
Drivers such as demographic changes, economic and legislative factors
Implications for your product or service
Your plans to meet future demands and changes in the market >>
Profile of Competitors
<<Analysis of your competitors in the market:
What are the competing products and services?
Profile of key players (company size, turnover, profitability etc) and
their market
share
Advantages and disadvantages of the competitors' offerings >>
Competitive Advantage
<< This is your assessment of why potential customers will choose to buy your
product in place of those profiled above. Advantages may include:
Unique features
Price
New technologies or systems
Better value to customers in terms of efficiency or ROI or cost/benefit ratios
Greater compatibility with existing systems
Include any independent validation or case studies >>
Benefits to Clients
<< This is what your product or service provides to potential
customers in terms of
their own business goals. Does your product or service enable them to:
Increase sales
Increase efficiencies
Save money?
Save time?
Maximise resources?
Reduce errors?
Reduce downtime?
Improve Customer Service, reduce churn, increase loyalty
What will buying your product or service actually do for the customer? >>
4. Marketing/Sales Strategy
<< This section sets out your strategies for reaching your target
market, arousing
their interest in your product or service, and actually delivering the
product or
service to them in sales. >>
Marketing Strategy
<< How you will position your product or service in the market and
differentiate it
from its competitors:
Which segments of the market will be targeted first and why?
How will this be developed to reach the full target market?
How will you differentiate your product or service?
What key benefits will be highlighted?
What potential customers have you already targeted?
Have you a test site in operation, and what feedback is coming from this?
What contacts can be used to generate market awareness and sales?
Who will do the marketing: staff, agency, reps? >>
Revenue Sources
<< What contributions to revenue and profit will your business have?
IrlEUUSRest of WorldProductsServicesLicencesAfter salesUpgrades
Sales Strategy
<< How you will sell your product or service to the target market.
Directly
Retail
Distributor
Agent
Sales rep
Website
Revenue Sharing Partners
Analyse for each method the costs involved, whether it will reach the intended
market efficiently, the control you would retain over the pricing and
positioning,
the logistics, and the overall integration with your marketing
strategy. State the
advantages of the methods you have chosen to sell your product or service. >>
Pricing
<< How you will set the price charged for your product or service.
Considerations
include:
Competitors' prices
Level of competition in the market
Perception of quality-price relationship by customers
Production costs and overheads
Chain of distribution and the added-value at each stage
The extent to which the buyer can control the price
State how each product or service will be priced, referring to the
income sources
above. >>
Marketing and Communications Strategy
<< How you will promote your product or service in the marketplace.
Advertising – where, when, how, to whom
Public relations
Direct marketing
Website and internet marketing
Exhibitions and conferences
Word of mouth >>
5. Research and Development
Technology Roadmap
<< Show the intended future development of your product or service,
i.e., changes
to meet future market demands, adaptations to international markets,
or upgrades.
Also detail plans for new products or services to add to the range.
Include
Team/Department structure
Methodology
Platforms used
Milestones to be achieved
System Overview Diagram>>
Research and Development
<< Indicate whether you will have ongoing R&D as an activity of the company,
what areas this will be exploring and what future contributions to the company
you expect from this research. >>
Technical Partners
<< List all partners and indicate nature of involvement >>
IP, Patents, Copyrights, Brands
<< Indicate any protection available for your product or service: whether the
technology can be or has been patented, whether you can avail of copyright or
trademark registration, and the brand image you intend to build up as
a protection
against competition. >>
6. Staffing and Operations
<< This is where you will outline the intended structure of the
company in terms of
management, number of employees, and the physical operational requirements to
produce or supply the product or service. >>
Management (including Board) Organisation Chart
<< Include a diagram of the way in which the management of the new venture will
be organised. This should show the areas of responsibility of each manager and
the employees to be taken on over the next three years. >>
Staffing
<< State what employees will be taken on over the next three years, with which
skills, in which areas of the business. >>
Training Plans
<< Outline the planned employee and management development to be undertaken
in order to maintain a skilled workforce. This should also tie in with
the future
market developments and any new product or service developments. >>
Operations
<< State the physical requirements of the business:
Premises
Equipment
Production facilities
Infrastructure
Communications facilities
Costs involved
Suppliers >>
7. Financial Projections
I Key Assumptions p
II Profit and Loss Accounts p
III Balance Sheets p
IV Cashflow p
Requirements for Preparation of Projections
Opening figures included based on latest Mgmt/Audited accounts
Shareholders Fund analysed into Share Capital, Share Premium and Retained
Profits
Sales Assumptions provided by unit, price segment & geography and reconciled to
pipeline
Expenditure categorised into R&D, Admin and Overheads and Promoters / key
managers salaries
Identification of monthly and cumulative company operational deficits
Sensitivity analysis may be required, detailing strategies to be
implemented if sales
or expenditure targets are not met.
Projections should identify separately Operational Cash Flow and external Cash
Injections
I Key Assumptions
<< This section reviews the key assumptions used in the financial
projections. It is
a guide to explain how key figures in the financial projections were arrived at.
Included here should be items such as:
Income sources
Number of employees projected for each year and their intended salaries
Projected investment in equipment and materials
Projected R&D costs
Depreciation allowed for
Expected rent and rates charges
Creditor days expected and debtor days allowed
Expense calculations
This section should be brief and to the point. Further detail
regarding these items
can be placed in the Appendices. >>
II Profit & Loss Accounts
<< Attach here projected profit and loss accounts for the first three
years of the
company's operations. >>
III Balance Sheets
<< Attach here projected balance sheets for the first three years of
the company's
operations. >>
IV Cashflow
<< Attach here a monthly cashflow prediction for the first two years of the
company's operations. >>
8. Sales Pipeline
Table as follows:
Name of CustomerSize of DealDate PO expectedProbability % of Getting Sale
9. Funding Requirements
<< State here the total funding requirements of the business, and how those are
intended to be provided. You will also need to state the approximate
breakdown of
how these funds are to be spent.
Sources:
Promoters' funds
Bank lending
Grants or loans from agencies
Investment already received
Investment sought
Required for:
Equipment
R&D
Marketing
Staffing >>
9. Appendices
<< This section is used to provide the detailed data on which the main
text of the
business plan is based, and to provide extra information of interest
to the readers
of the business plan. Items for inclusion in appendices vary from business to
business, but normally include some of the following:
Promoters' CVs
Detailed financial assumptions
Most recent Company Audited Accounts
Share Cap table and Investment history
Term Sheet from Potential Investors
Detailed market research findings
Promotional literature
Product or service information
Details of company website
Testimonials or letters of intent from customers >>
leading business plan. It is a necessity that every businessman
requires so as to
market his business to investors. Thus, I took a tour to get a sample
guide for all
entrepreneurs. I belief that its benefit will for you good.
Sample Business Plan Template
<<Company Logo>>
<<Company Name>>
Business plan
<<Prepared by:__________________>>
<<Date>>
Table of Contents
Page
Confidentiality Agreement ii
Executive Summary 1
Company Description 2
Promoters, shareholders and Board 2
Advisors 2
Products and services 2
Long Term Aim of Business 2
Objectives 2
S.W.O.T. Analysis 2
Market Analysis 3
Target market 3
Total market valuation 3
Targeted share 3
Market trends 3
Profile of competitors 3
Competitive advantage 4
Benefits to clients 4
Marketing/Sales Strategy 5
Income sources 5
Marketing strategy 5
Pricing 5
Advertising and Promotion 5
Sales Strategy 6
Research & Development 7
Patents, copyrights and brands 7
Product/Service Development 7
R&D 7
Staffing and Operations 8
Management Organisation Charts 8
Staffing 8
Training Plans 8
Operations 8
Financial Projections 9
Key Assumptions 10
Profit and Loss Accounts 11
Balance Sheets 12
Cashflow Projections 13
Sales Pipeline 14
Funding Requirements 15
Appendices 16
Confidentiality Agreement
The undersigned reader acknowledges that the information provided in this
business plan is confidential; therefore, the reader agrees not to
disclose it without
the express written permission of <<Company/Promoter>>.
It is acknowledged by the reader that information to be furnished in
this business
plan is in all respects confidential in nature, other than information
that is in the
public domain through other means, and that any disclosure or use of this
confidential information by the reader may cause serious harm or damage to
<<Company>>.
Upon request, this document is to be immediately returned to <<Company/
Promoter>>.
Signature
Name (printed)
Date
This is a business plan. It does not imply offering of securities.
1. Executive Summary
<< Introduce promoters here, and the reason you are now preparing this Business
Plan.
This section should not be completed until the business plan is
written. It will
highlight all milestones in the company's development over the next
five years. It
should sum up the following areas:
Purpose of the plan
Product or service and its advantages
Market opportunity
Management team
Track record, if any
Financial projections
Funding requirements
Financial projections should be summarised and highlighted. The
following format
is suggested as a guide:
Year 1Year 2Year 3SalesExportsNet Profit before TaxInvestmentEmployment
Remember that potential investors often make a provisional judgement based on
the executive summary, and that their decision to read the main body of the
business plan will depend on the information presented here. The appendices at
the back of the plan contain more detailed information to support the
main text of
the business plan. >>
2. Company Description
Promoters and Shareholders
<< Description of the people involved in starting the business:
Promoters
Management structure and areas of responsibility
Shareholders names, no. of shares, % shareholding and cash investment to date
Advisors
<< Financial, legal, and other advisors should be listed, with names,
addresses and
contact details. >>
Products and services
<< Explain clearly what your product or service is and what it does.
Background to its development
Benefits and Features
Unique selling points
Advantages to customers
Disadvantages or weak points
Future developments >>
Long Term Aim of the Business
<< State the long-term aim of the new business. >>
Objectives
<< State the specific milestones to be achieved by the company over
the next five
years (sales, exports, employment, product development, etc). >>
SWOT Analysis
<< Analyse the strengths and weaknesses of the business and product or service,
the opportunities that exist in the marketplace, and the threats to
the viability of
the project. This is best done in a matrix diagram as follows:
Strengths
Weaknesses
Opportunities
Threats
>>
3. Market Analysis
<< This section covers market research and competitor analysis. You must show
that you have done the market research to justify the projections made in your
business plan. It must demonstrate that there is a viable market and
that you can
beat the competition in the market for sales. >>
Target Market
<< The market to which you are planning to sell the product or
service. Analyse the
segments of this market as follows:
Size of each market segment
Is the segment growing or declining?
Characteristics of potential customers in each segment >>
Total Market Valuation
<< Show the total potential value of the market for this type of
product or service,
in all the targeted markets, domestic and international. >>
Target Company revenue
<< These figures are the basis for the sales figures in your financial
projections
and must be based on realistic assessments. Include average deal size, length of
sales cycle, recurring revenues>>
Market Trends
<< Analyse what is happening in the market:
Recent changes
Future predictions
Drivers such as demographic changes, economic and legislative factors
Implications for your product or service
Your plans to meet future demands and changes in the market >>
Profile of Competitors
<<Analysis of your competitors in the market:
What are the competing products and services?
Profile of key players (company size, turnover, profitability etc) and
their market
share
Advantages and disadvantages of the competitors' offerings >>
Competitive Advantage
<< This is your assessment of why potential customers will choose to buy your
product in place of those profiled above. Advantages may include:
Unique features
Price
New technologies or systems
Better value to customers in terms of efficiency or ROI or cost/benefit ratios
Greater compatibility with existing systems
Include any independent validation or case studies >>
Benefits to Clients
<< This is what your product or service provides to potential
customers in terms of
their own business goals. Does your product or service enable them to:
Increase sales
Increase efficiencies
Save money?
Save time?
Maximise resources?
Reduce errors?
Reduce downtime?
Improve Customer Service, reduce churn, increase loyalty
What will buying your product or service actually do for the customer? >>
4. Marketing/Sales Strategy
<< This section sets out your strategies for reaching your target
market, arousing
their interest in your product or service, and actually delivering the
product or
service to them in sales. >>
Marketing Strategy
<< How you will position your product or service in the market and
differentiate it
from its competitors:
Which segments of the market will be targeted first and why?
How will this be developed to reach the full target market?
How will you differentiate your product or service?
What key benefits will be highlighted?
What potential customers have you already targeted?
Have you a test site in operation, and what feedback is coming from this?
What contacts can be used to generate market awareness and sales?
Who will do the marketing: staff, agency, reps? >>
Revenue Sources
<< What contributions to revenue and profit will your business have?
IrlEUUSRest of WorldProductsServicesLicencesAfter salesUpgrades
Sales Strategy
<< How you will sell your product or service to the target market.
Directly
Retail
Distributor
Agent
Sales rep
Website
Revenue Sharing Partners
Analyse for each method the costs involved, whether it will reach the intended
market efficiently, the control you would retain over the pricing and
positioning,
the logistics, and the overall integration with your marketing
strategy. State the
advantages of the methods you have chosen to sell your product or service. >>
Pricing
<< How you will set the price charged for your product or service.
Considerations
include:
Competitors' prices
Level of competition in the market
Perception of quality-price relationship by customers
Production costs and overheads
Chain of distribution and the added-value at each stage
The extent to which the buyer can control the price
State how each product or service will be priced, referring to the
income sources
above. >>
Marketing and Communications Strategy
<< How you will promote your product or service in the marketplace.
Advertising – where, when, how, to whom
Public relations
Direct marketing
Website and internet marketing
Exhibitions and conferences
Word of mouth >>
5. Research and Development
Technology Roadmap
<< Show the intended future development of your product or service,
i.e., changes
to meet future market demands, adaptations to international markets,
or upgrades.
Also detail plans for new products or services to add to the range.
Include
Team/Department structure
Methodology
Platforms used
Milestones to be achieved
System Overview Diagram>>
Research and Development
<< Indicate whether you will have ongoing R&D as an activity of the company,
what areas this will be exploring and what future contributions to the company
you expect from this research. >>
Technical Partners
<< List all partners and indicate nature of involvement >>
IP, Patents, Copyrights, Brands
<< Indicate any protection available for your product or service: whether the
technology can be or has been patented, whether you can avail of copyright or
trademark registration, and the brand image you intend to build up as
a protection
against competition. >>
6. Staffing and Operations
<< This is where you will outline the intended structure of the
company in terms of
management, number of employees, and the physical operational requirements to
produce or supply the product or service. >>
Management (including Board) Organisation Chart
<< Include a diagram of the way in which the management of the new venture will
be organised. This should show the areas of responsibility of each manager and
the employees to be taken on over the next three years. >>
Staffing
<< State what employees will be taken on over the next three years, with which
skills, in which areas of the business. >>
Training Plans
<< Outline the planned employee and management development to be undertaken
in order to maintain a skilled workforce. This should also tie in with
the future
market developments and any new product or service developments. >>
Operations
<< State the physical requirements of the business:
Premises
Equipment
Production facilities
Infrastructure
Communications facilities
Costs involved
Suppliers >>
7. Financial Projections
I Key Assumptions p
II Profit and Loss Accounts p
III Balance Sheets p
IV Cashflow p
Requirements for Preparation of Projections
Opening figures included based on latest Mgmt/Audited accounts
Shareholders Fund analysed into Share Capital, Share Premium and Retained
Profits
Sales Assumptions provided by unit, price segment & geography and reconciled to
pipeline
Expenditure categorised into R&D, Admin and Overheads and Promoters / key
managers salaries
Identification of monthly and cumulative company operational deficits
Sensitivity analysis may be required, detailing strategies to be
implemented if sales
or expenditure targets are not met.
Projections should identify separately Operational Cash Flow and external Cash
Injections
I Key Assumptions
<< This section reviews the key assumptions used in the financial
projections. It is
a guide to explain how key figures in the financial projections were arrived at.
Included here should be items such as:
Income sources
Number of employees projected for each year and their intended salaries
Projected investment in equipment and materials
Projected R&D costs
Depreciation allowed for
Expected rent and rates charges
Creditor days expected and debtor days allowed
Expense calculations
This section should be brief and to the point. Further detail
regarding these items
can be placed in the Appendices. >>
II Profit & Loss Accounts
<< Attach here projected profit and loss accounts for the first three
years of the
company's operations. >>
III Balance Sheets
<< Attach here projected balance sheets for the first three years of
the company's
operations. >>
IV Cashflow
<< Attach here a monthly cashflow prediction for the first two years of the
company's operations. >>
8. Sales Pipeline
Table as follows:
Name of CustomerSize of DealDate PO expectedProbability % of Getting Sale
9. Funding Requirements
<< State here the total funding requirements of the business, and how those are
intended to be provided. You will also need to state the approximate
breakdown of
how these funds are to be spent.
Sources:
Promoters' funds
Bank lending
Grants or loans from agencies
Investment already received
Investment sought
Required for:
Equipment
R&D
Marketing
Staffing >>
9. Appendices
<< This section is used to provide the detailed data on which the main
text of the
business plan is based, and to provide extra information of interest
to the readers
of the business plan. Items for inclusion in appendices vary from business to
business, but normally include some of the following:
Promoters' CVs
Detailed financial assumptions
Most recent Company Audited Accounts
Share Cap table and Investment history
Term Sheet from Potential Investors
Detailed market research findings
Promotional literature
Product or service information
Details of company website
Testimonials or letters of intent from customers >>
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