Resources
Solving Problems
- The 5 Step System to Solve Problems.
The real world game of business is solving a series of problems. Successful solving of these problems determine success.
The Five Steps are:
- Define the Problem
- Set Goals
- Create a Plan to Solve the Problem and Minimizes Costs
- Design a Cash Flow Forecast Plan
- Work the Plan Daily My book gives a detailed explanation of how each step works using the analysis of improving a business's profit and loss balance sheet. If one follows the five steps they will improve the outcome of the vast majority of personal and business problems.
Hire Good People
The ability to pick talented employees is the most critical part in building a successful business team. There is a simple and easily executable system.
After the applicant completes a standard
Personnel Job Application Form, give the applicant an outline of what the job entails, and what is expected of successful applicants. The candidates is then asked to select from the list of the 40 terms, 15 terms that the they think best describe the qualities that he or she has, which will help them perform the applied-for job. Successful job applicants should have a high degree of matches between their 15 checked qualities and the ones picked by the supervisor or team leader who manages job.
Promote current deals
Writing Ad Copy
When writing ad copy an excellent axiom
to follow is the fewer the words used, the
more powerful the message There are only
i four pieces of information that must be conveyed in any ad aimed at retail customers. They are:
- What is it? Refers to what is the product or service that is being presented in the ad, perhaps with a picture.
- Who is it? Refers to who is the seller of the product or service.
- Where is it? Refers to where the seller is located.
- How it is a benefit? Explaining how the product or service benefits the customer.
All of this information can be conveyed using a combination of pictures and twenty or less words.
Executing an ad campaign
"The Advertiser's Three-Step Program" for developing an advertising campaign . The first step, is to decide on a basic theme. What is the basic purpose of the company's advertising campaign?
The second step, use a recognizable picture or symbol that is easy to remember.
The third step in the program is to keep the copy concise.
My book has a short story no how these three steps were implemented in an effective campaign.
real tasks
Writing a business plan
50% of all startup fail in their first year. 75% of All New Businesses Fail By Year Three!!! Benjamin Franklin once said "By failing to prepare, you are preparing to
fail". You should create a business plan only if you want your business grow, prosper, and be profitable.
What is a "Business Plan"? A business plan has two parts. The first part is a written narrative of a course of action that an entrepreneur proposes a business follows, for a period of time, in order to achieve a specific set of goals. Agood business plan delineates the actions required, the people involved, the sequencing of the tasks that need to be performed, the time required to complete each tasks, the people and materials needed for each task, the financial resources required, and when these resources will be needed.
The second part of a business plan is athorough Cash Flow Forecast.
Creating a Cash Flow Forecast
The second part of a business plan is a thorough Cash Flow Forecast. A well designed forecast should cover three years with the first year must be divided into
twelve months. A Cash Flow Forecast must be as detailed as you can make it to be a valuable planning and forecasting tool. An excellent, fill in the blanks, Cash Flow Template can be found at this web site by clicking on the "Cash Flow Forecast".
Calculating your cash needs
A careful Cash Flow Forecast is how you determine your cash needs. If you do not do a Cash Flow Forecast there is no way to accurately calculate your cash needs be it a new business or what your existing business will need in the coming year.
The more detailed your Cash Flow Forecast the more accurate the prediction of your cash needs.
Determining when you need cash
The first year of a proper Cash Flow Forecast is divided in monthly units. It gives a running total of cash on hand. Thus, it is the Cash Flow Forecast that tells
you how much cash you have and is the total increasing or decreasing. If properly written and followed it will prevent running out of cash. Bankruptcy is not being able to make pay role on Friday.
Learn how to write a contract that will keep you out of court
We live in a very litigious society. Successful businesses are constantly being sued. The way to avoid contractual litigation is to Settle Disputes by Binding Arbitration, NOT In Court. The reason is that in binding arbitration both parties must pay their own legal cost and only actual damages are allowed.
Make sure that there is a binding arbitration paragraph at the bottom of every contract that you sign with its own signature block that has language similar to the following.
"The parties to this agreement agree that any and all disputes between the parties will be settled by binding arbitration conducted by American Arbitration Association not in court".
"Entrepreneurial SUCCESS" tells the story how executing the above, reduced the number of lawsuits from three to four a year to ZERO.
Buying and selling a business
"Entrepreneurial SUCCESS" explores five principles for buying a business and two for selling a business. These simple principles can save you thousands and
greatly reduce the possibility of litigation. The book has an entire 63 page chapter on how to analyze a business's financial statement that is for sale. All of the information is written for an entrepreneur not for accountants or lawyers. These are simple dos and don'ts at everyone who is buying or selling a business should know.