Showing posts with the label Finance

Writing Your Business Plan (Traditional or Online Business)

By Robert Thibodeau How To Write A Business Plan In my previous article, I talked about how you can plan your business startup . I defined a business plan as a written description of the future of your business . This is a document that indicates what you intend to do and how you intend to do it. I further explained that if all you have is a paragraph on the back of an envelope describing your business strategy , you have written a plan , or at least the beginning of a plan . I also said that a business plan consists of a narrative and several financial worksheets . I mentioned that the 'writing of a business plan ' as one of the pivotal steps involved in setting up a successful business . By now you should understand the need for writing a business plan . Writing a business plan , for a traditional brick and mortar business , will probably take a lot of time. It may take up to 100 hours or even more. For obvious reasons, a new business needs to carry out a l

6 Tips to Consider When Hiring A Good Business Consultant

By Shalini Mittal If you own a big or a small business , you should benefit from the services of a business consultant . This is important for the long-term success of your business . However, you should hire only an experienced consultant . Always do your research and consider the following 6 tips before hiring one. 1. Ascertain Your priorities What do you want your consultant to focus on? Any business has three areas: impact, profit and team. For most of small businesses , the main goal is to maximize the profit. So, you should look for a consultant with a lot of experience in this area. The professional should be able to give suggestions so that you can earn as much profit as possible from your business . 2. Generalists or specialists Do you need a generalist or a specialist ? Usually, small business owners go with a generalist since they don't know which business strategy they should apply. But if you have a clear direction and strategy , you should hire

How to Improve Your Import and Finance Tactics

All businesses rely on their cash funds to operate. While most companies tend to rely on a stable cash flow to support your business , unfortunately, companies that usually import do not enjoy these freedoms. This is mainly because importing companies have long cycles of cash flow. Companies import the industry, therefore, must have and use appropriate financing strategies in place so that your business will not happen. In addition, importing business owners should not be complacent with the financing strategies they have; They must find ways to improve them. Here are some tips for companies are presented in improving their financing strategies : Note and keep a record of all relevant import rules and regulations. For efficiently independent financial strategies , importing owners must be aware of the regulations and rules established by different countries for importing. Being well informed of all rules and regulations of applicable import financing strategies is im