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An example taken from local or world news events is another kind of illustration. This is the introduction and conclusion to a paper on urban growth problems in California: The Chico city council recently approved six hundred new homes to Role & Responsibilities Manager, go in on the east side of the city. The impacts this development will have are likely to be extreme, illustrating the Marketing Manager Letter., problems all California cities face in |authorstream, managing growth. How well Chico will cope with the increased traffic, pressure on Letter. Cover schools, and impacts to the watershed is yet to be seen. But Chico is not alone in Template., having to Manager Letter, find solutions soon. A composite illustration is a fiction that you create in order to make a point. Designs College Graduation Cookout Wording Also. (Composite means including a bit of this and a bit of that.) The advantage of a composite illustration is that it can be perfectly crafted to Marketing Manager Cover Letter., fit your point. A composite can illustrate extreme examples that are possible though not likely (Suppose that. ), or distant consequences that are possible but not yet observed. Templates Free , Examples. An analogy is an extended comparison between one thing and another (the development of a balanced state budget compared with a shopping list, perhaps).
If you come up with an apt analogy, it can be very effective; however, a so-so analogy is better abandoned sooner than later. You are better off with a good story than with a mediocre analogy. For more on analogies, see the TIP Sheet, Writing an Analogy. Chances are, if you live outside city limits in any of California's twenty-one rural counties, you couldn't use public transportation if you wanted to. There isn't any. Sure, Californians need to get over their love affairs with their cars, but having a better system of Marketing Cover Letter public transportation in place would help.
Then, perhaps, I could get from rural Durham to Template. Printable Clock, rural Oroville, where I live, without putting yet another car on Marketing Letter. Best Letter the road. A question is Agreement Samples , Examples, another type of challenge: Does it make sense to prohibit minors from carrying calamine lotion with them at school without two kinds of Marketing Cover Best Marketing written permission, and yet allow them to leave campus without parental knowledge or consent for invasive medical procedures? Even more than many of the Printable - Templates Images, zero-tolerance laws in place in our schools, this one should be ditched. Does it make sense? Clearly it doesn't. Note that a question is an introductory strategy , not a thesis statement. A thesis statement should answer the question, and in some detail-not just yes or no. Albert Einstein once said, Any man who can drive safely while kissing a pretty girl is simply not giving the kiss the attention it deserves. It doesn't take an Marketing Manager Cover Marketing Letter, Einstein to realize that cell phones are not the Printable - Templates | Christmas, first, nor will they be the Marketing Manager Cover Best Marketing Cover Letter, last, driving distraction. We don't need more restrictions on cell phones; we just need better drivers. Song lyrics or familiar sayings sometimes make good introductions, but avoid cliches such as Haste makes waste.
If a familiar saying draws on Printable - Templates jargon or sayings familiar only to a particular group, you have to provide the Marketing Cover Letter. Best Marketing Letter, context for those who are unfamiliar with that group: Computer programmers have a saying: Garbage in, garbage out. The next time you read the results of the latest poll, consider the polling method, the sample, and the source, and remember, Garbage in, garbage out. Compare or contrast. When I was seven, I thought my father was all-powerful and could do no wrong. When I was seventeen, I thought he was a jerk. Clock Blank Clock Template Inspiritoo. My father wasn't the god he seemed when I was seven, but he was sure a lot better and wiser than I thought he was when I was seventeen. In the matter of Marketing Best Marketing Cover Letter agricultural subsidies, we are better off sticking with existing evils than replacing them with others that promise far worse results. Another interesting use of definition is to use it as a starting point to re-define something in your own terms: Webster says friendship is mutual feelings of trust, affection, assistance, and approval between people.
However, I say friendship sometimes is Designs Wording Also, knowing when to Marketing Manager Letter. Best Cover, walk away. Walking away that day was the biggest favor Mai ever did for me. Printable Images On Pinterest | Christmas. Make a provocative or startling statement. It is ridiculous and immoral to Marketing Letter, allow congressmen to give themselves pay raises. Restricting the ability of congressmen to vote themselves raises would go a long way to restoring morality and Lease Agreement Free Samples , Examples a sense of public service to public servants.
As you can see, introductions and conclusions are closely linked. Once you decide on a strategy, try simply over-writing the Manager Marketing Letter, introduction (as one student we know regularly did) and Customer Template At Word-Documents.com then split off part of Manager Cover Letter. Best Cover Letter it to use as the conclusion. When you begin to Sheet Template | Work, think of introductions and conclusions as two pieces of a single puzzle, you will probably find them much easier to write. Butte College | 3536 Butte Campus Drive, Oroville CA 95965 | General Information (530) 895-2511.
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Create your free Business Plan now. Make an investment-worthy business plan easily with our free template. Select a Industry Fill in the Form. Complete your Business Plan. Print and Marketing Letter. Best Marketing Cover, Download For Free. Business Plans: Writing Guides, Downloadable Templates, and 900 Best Printable - Templates On Pinterest, Samples. Updated February 15, 2017 by Legal Templates. 1. Free Business Plan Template Download. Are you an entrepreneur looking to Manager Cover Best Marketing download a free business plan?
If so, you have come to the right place. Legal Templates is happy to provide you with a hassle-free document downloads. Click the Clock Face Blank Template buttons below to download (1) a blank document, and (2) a document that is filled in for you to reference. Related Business Documents: Click to Manager Letter. Best Cover Letter View. What’s included in the blank template:
In the first download, you will find documents with all of the chapters, section titles, and section subtitles that you will need to successfully complete your plan. Our first plan contains the 8 chapters of a basic business plan including: Chapter 1: Executive Summary: The executive summary provides investors with a general layout of your company. This chapter is Clock Template. Printable Template essentially your hook to convince potential financiers that your model is worthy of their investment. Chapter 2: Company and Financing: In this chapter, the goal is to outline the legal and operational structure of your company, financing requirements, the Marketing Manager Best Marketing Letter history behind the company, mission statement and the management team. Memo. Memo Template Word. If you are forming a corporation, be sure to include your Articles of Incorporation here. Chapter 3: Products and Marketing Letter. Best Letter, Services: This section describes what products and/or services your business will sell (now and in the future), and how you will build, assemble and deliver them. It also offers a comparison of your company and your direct and indirect competitors.
Chapter 4: Customers and Market Analysis: The customers and market analysis page indicates your target customer segments, what needs you are filling for them , and Printable Images On Pinterest | Christmas, the latest trends among these consumers in Marketing Cover Best Cover Letter, terms of Customer Sheet Template At Word-Documents.com | Work, growth and behavior. Chapter 5: Marketing and Sales: The marketing and Marketing Manager Cover, sales chapter allows you to describe how you will sell your product/service. Particularly what are your company’s strategies for positioning, pricing, promotion and distribution. Chapter 6: Strategy and Implementation: This chapter will give you an opportunity to set the key milestones that help establish a timeline of progress towards your goals. Additionally, it includes subsections like SWOT analysis, competitive edge, and strategic alliances. Chapters 7 + 8: Financial Plan, Sales Forecast, Financial Statements: In the final two chapters, entrepreneurs must define and calculate the financial variables that will go into the creation/expansion of Clock Inspiritoo, your idea, including its expenses, your anticipated sales forecast, personnel plan, cash flow assumptions, and more. If you are purchasing an existing company, you should also include the Marketing Letter. Marketing Cover business purchase agreement in Customer | Work, your plan. What’s included in the template with sample text: In the second download, we give you a completed ice cream shop plan to reference.
Each section gives an example of what you should write. Our guide also includes example graphs and charts, so that you are aware of the types of financial calculations, plans, and forecasts that a plan should offer to attract investment. For guidance on Manager Best Marketing Cover Letter what you should include in your plan, and why, please reference our How to |authorstream Write a Business Plan set of Marketing Cover Letter. Marketing Letter, articles below. Downloading this small business plan comes at no cost, so feel free to 900 Best Printable - Templates Images start your download and get started. Marketing Manager Cover Letter. Best Letter. However, you should be aware that there are some pros and cons to using free business templates, rather than using professional software or an experienced writer. Writing a business plan is a prerequisite to Memo Template your company’s success. A solid plan is necessary to Marketing Manager Cover Best Letter help found your company and ensure that your goals remain on track over time. Your plan can and will change as you encounter the unpredictable variables that come with starting your own company.
If you have an College, existing company, crafting a solid plan is equally important if you’re hoping to Marketing Letter. Best attract investment and expand your company beyond the limits you’ve already reached. Your business strategy should account for the next 3-5 years in advance, and cover every aspect of your industry, including the Lease Agreement - 9+ Samples critical relation between marketing and sales to Marketing Best Marketing Cover your company’s finances. Your plan should include the following sections before you submit it to investors. Click each accordion to Manager |authorstream read a how-to guide for each chapter: “How to Write a Business Plan” Table of Contents: How to Write the Marketing Cover Best Marketing Cover Letter Executive Summary. The executive summary contains all of the essential information about what makes your business strong and Customer, worthy of investment . It covers the major highlights of the rest of Best Letter, your plan’s chapters. The goal is to briefly tell your reader what your company will do, where you want to Customer Sheet At Word-Documents.com | Work take it, and why your business idea will be successful. If you are seeking financing, the executive summary is Marketing your first opportunity to grab a potential investor’s interest. The executive summary will be the first chapter of your business plan, though it’s actually the last section that you should write . First, you’ll need to do heavy research to ensure that your plan is Face Template. Inspiritoo sound before you can write the executive summary. This section will be different depending on if you are an established business or a new startup. A startup company’s executive summary will need to Cover Cover Letter be interesting and convincing to Designs Also capture the attention of investors.
Your company will lack the Marketing Letter. Best Cover Letter historical data and trends that existing companies are able to provide, but there are strategies to Clock Printable Inspiritoo mitigate these factors. First, you’ll need to Cover Letter. Best Cover briefly explain who you are, the background of your management team, and Designs Invitation Wording, your reasoning behind starting a business in Marketing Letter. Cover Letter, your chosen niche. Secondly, you’ll need to demonstrate that you’ve done quality research that supports how you’ve conceptualized your business. Investors know that talk is cheap – do you have the data and analysis to Information Sheet Template | Work back up your claims? Even in a standard plan, the executive summary for an existing business has no set template, although there are several suggested guidelines that you can find around the web. We suggest the following basic template – feel free to Marketing Marketing add or subtract sections according to your own needs:
Summary Management Team Products and Services Customers Marketing and Sales Financial Forecast Financing Requirements (optional) Describe the purpose of the plan (e.g.; to raise a specific amount of debt financing to expand a store location) as well an overview of the company (name, location, company type, products sold, founder(s) and Templates Free , Examples, founding date). Describe the Marketing Best Marketing Cover key milestones or objectives that you want to achieve with this business (these are the Sheet tangible results in which you use to prove success of the venture). This statement should be concise and to Marketing Cover Best Letter the point. Summarize the members of the management team, including highlights of their expertise and experience . Describe how each member contributes to Face Blank Inspiritoo the success of the organization. Keep this section brief, as you will go into more detail in the Products and Services section.
Products and Services. Describe the Cover Best Marketing Letter products and services you are providing and who the competitors are within the industry . Keep this section brief, as you will go into more detail in the Products and Agreement Templates - 9+ , Examples, Services section. Describe whom your customer groups are and whom your key customers are , as well as how you will market to them. Keep this section brief, as you will go into more detail in the Market section. Describe briefly how you will market your product or service. Summarize the major points in the Marketing and Sales chapter, which may include market positioning, pricing, promotion, and distribution. Summarize the most important points from the Financial Plan section here. Manager Cover Letter. Best Marketing Letter. This should include your sales forecasts and Memo. Business Memo Template, projected expenses as well as the logic behind the projections. If you are a new company, describe when you expect to turn a profit . If you are an existing company, highlight past financial performance.
7. Financing Requirements (Optional) Summarize the amount of equity and/or debt financing that you are seeking, when you need it, the use of the funds, and when you expect to Marketing Cover Best Cover reach your next milestone event and/or start paying back the Information Template At Word-Documents.com loan. Marketing Manager Letter. Marketing. Keep this at an overview level , as you will go into more detail later on Samples , Examples in other chapters. Note: This is a complex question that you cannot answer until you complete your plan, so it is highly recommended you work your way through the entire writing process first . Marketing Letter. In particular, complete the financial planning process before attacking this section. Only then will you be able to identify the amount of money you will need to raise. With these sections fleshed out, you’ve finished your executive summary. How to Write the Company and College Graduation Cookout Wording, Financing Chapter. The company and finance section of your plan is important, because introducing the management team is critical for both start-ups and established companies alike. Cover Best Letter. Investors will use this information to 900 Best Images On Pinterest | Christmas gauge the future likelihood of success.
Company and Financing Sections. Company Overview Management Team Required Funds (optional) Exit Strategy (optional) Mission Statement (optional) Company History (optional) Location and Facilities (optional) There are many variations and approaches on how to Marketing Manager Letter. Cover lay out the various components of a business plan. Our approach for the company overview section is to provide the reader with the company’s legal information, address and a brief description of the company’s history. Since there are follow up sections in this chapter that over go the company’s location and history in College Graduation Invitation Wording Also, more detail, you will want to Manager Marketing Cover keep this short (2-3 sentences). A BRIEF PRIMER ON COMPANY TYPES. The optimal company type is best determined by Designs Cookout Invitation Wording a credible Attorney.
The primer below is meant only to explain the broad differences between the most common company types. A sole proprietorship, according to the IRS: “A sole proprietor is someone who owns an unincorporated business by him or herself.” While the most simple to set up and the most common, there is a significant drawback: you will be personally liable for any obligations. So for Marketing Letter. example, if you sell someone a cupcake and Role, they sue you because they found a hair in it, and you lose in court, the Marketing Manager Cover Letter. Letter creditors can legally go after your personal possessions – such as the roof over your head. A partnership, according to the IRS: “A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the company.” A partnership has certain advantages compared to a LLC, such as not needing to file formation documents when setting up a partnership, and 900 Best Printable - Templates, not needing to file dissolution documents if dissolving the Letter. Best Cover Letter partnership.
However, similar to sole proprietorships, partners in Clock Face Template. Template Inspiritoo, a partnership have unlimited liability for Letter. Best Marketing Cover Letter the company’s debts and liabilities. Limited Liability Partnerships (LLPs) LLPs are different from 900 Best Printable - Templates Images | Christmas, traditional partnerships in that there are two classes of partners: (1) General partners that have full management and control but also full personal liability and Marketing Manager Cover Letter. Best Cover, (2) Limited partners that have no personal liability beyond their investment in the partnership interest. Apartment Lease Agreement Templates , Examples. Limited partners are often times “silent partners” that wish to invest in Marketing Cover Marketing Cover, the venture but limit their exposure to liability. A corporation is a separate legal entity owned by shareholders. A corporation is commonplace for businesses that anticipate seeking venture capital financing. The downside to Face Printable Clock a corporation is the problem of “double taxation” since the corporation’s profits is taxed at the corporate level, and then any dividends distributed to Cover Letter shareholders are then taxed again at the personal level. You can elect a special tax status with the IRS to have your corporation not be taxed at the corporate level (instead, it would be taxed as a pass-through entity). Some of the drawbacks include not being able to have more than 100 shareholders , and not being able to Agreement - 9+ Samples have non-US citizens/residents.
A popular choice among many small businesses , a LLC limits the member’s personal liability and only taxes profits at the individual level (acts as a pass-through entity). Describe the type of company you plan to open, along with the registered name you plan to use. Explain your rationale – for example, if you are starting a company where you plan on seeking venture capital financing, then you will want to Best start a C-Corporation as majority of VCs will insist on this legal structure. If you have a home office/no dedicated business address. Include your current office setup and your future office plans once your company expands, if applicable. For start-ups, and especially those seeking financing, the Management Team section is Formal Business Jpg Microsoft Memo especially critical.
With the lack of history, there is little investors can go by to gauge the future success of a venture. The question lenders and Manager Cover Cover, investors will ask: Why should we trust your team with our money? You must demonstrate your team’s ability to execute on the stated goals. Sheet. To accomplish this, you should highlight: Background of Manager Cover Best, each member of the management team (education, relevant work experience, etc.) Roles and responsibilities within the company. Tip: Don’t include details about members of the Memo. Business Memo Management Team that are not relevant to the reader.
Everything presented should reinforce why your team is the right team to execute on Marketing Cover Marketing Cover the company’s vision. If you have an established business the information you want to present is the same. Role |authorstream. Keep in Cover Letter. Cover Letter, mind, however, that you also want to demonstrate that your team has the capability to manage growth of the company. Agreement - 9+ Samples , Examples. As a company grows from start-up to established business, the management team must also change. Marketing Cover Letter. Best Cover Letter. They must be able to manage employees, institute standardized systems, and ensure the business’s ability to College Graduation Invitation Also scale operations while keeping profitability stable.
If you already have a Board of Directors and/or Advisory Board, list these individuals and a brief description. In a publically trading company the Manager Cover Letter. Letter Board of Directors is elected by the shareholders and Agreement Templates Free , Examples, is the highest authority in Marketing Cover Letter, the management of the company. Clock Face Template. Blank Clock Template Inspiritoo. For our purposes (context of a private company that is Marketing Letter. Marketing Cover most likely a startup or small but growing business), a Board of |authorstream, Directors is comprised of investor(s), founder(s), CEO and Marketing Manager Cover Best Marketing, independent board member(s) who have substantial business and industry experience. A Board of Role & Responsibilities Of Operations, Director’s typical responsibility is to set broad policies for the company, determine compensation for company management, and approve annual budgets. An advisory board is a group of Cover Best Letter, business leaders that can help guide your company and Designs College Cookout, provides it with assistance when needed. Choose individuals with knowledge in your industry and are willing to play a role in your company . While some advisors are compensated, it comes down to Letter. Best Letter a case-by-case basis, frequently depending on how much time the member is committed to your company. Tips on building your Advisory Board: Choose a well-respected and well-known individual as the first member of your Advisory Board.
This will help you to recruit other members of the Customer Information Board. Choose individuals that have strengths and Manager Best Letter, relationships your business will need. Memo. Business Template Jpg Microsoft Word. As your business evolves, so will the Marketing Manager Cover Cover Letter members of & Responsibilities Of Operations Manager, your Advisory Board. Feel free to shake up the line up over time. In this section you will tell the reader how much money you need to raise, what you are going to Letter. Best Cover Letter use it for, and how you got to the requested amount. Important note: This is a complex question that you cannot answer until you complete your plan, so it is highly recommended you work your way through the entire writing process and in particular, complete the 900 Best Printable - Templates Images On Pinterest financial planning process. Only then will you be able to identify the amount of money you will need to Manager Cover Letter. Best Cover raise. There are two primary financing options: equity and debt.
The primary difference between equity and debt financing is that debt financing is essentially a loan that is backed by your assets or via a personal guarantee. If your company is Printable Images On Pinterest already in Marketing Cover Letter. Letter, existence and 900 Best On Pinterest, has trading history, then you may also secure a loan off of your receivables. In contrast, equity financing is essentially you exchanging a stake in your company for a specific sum of money from an investor . Therefore, the amount you are able to raise from investors comes down to Marketing Manager Cover Letter. Cover Letter how much they value your company. There are three fundamental questions every savvy investor will ask you: Cool idea, how do you make money with it? How much money do you need, and why and when? What do you think your company is worth? If you are seeking financing (regardless of Clock Printable Blank Clock Template Inspiritoo, its equity or debt), that most likely means that your financial model shows your company taking a loss in the initial stages, followed by break-even and subsequent profitability. The money you are seeking to Manager Cover Best Cover Letter raise will simply allow you to Apartment Samples have enough cash to Cover Best Letter cover the initial period where you will be taking a loss so that you can eventually make a profit.
This is a simplification; you may be raising money to Memo. Memo Word further grow your company, which may already be profitable. Or you might use the financing to get your product to the next stage in its product development lifecycle (i.e.; milestone event). But the general concept is the same; the investment you are seeking bolsters your company’s cash position , allowing it to Manager grow revenue and/or profitability. Cool idea, how do you make money with it? / How much money do you need, and why and when? The financial statements provide the answer to the first two questions (which is 900 Best Printable - Templates Images | Christmas why we recommend you complete your plan first). Cover Letter. Best Marketing. To answer how much money you need, analyze the cash flow statement to determine the cumulative cash flow. The lowest point on this curve will tell you what your maximum financing needs are , and at what point in time.
What do you think your company is worth? The third question is much harder to answer, especially for a new company. At the end of the day it really comes down to Customer | Work what an Manager Cover Letter. Marketing Cover, investor thinks your company is worth (which is more art than science). However, there are three popular methods of valuing a company that can help you come up with a valuation to facilitate the negotiation. Cost approach (asset based approach) The cost approach seeks to determine a company’s value by analyzing the market value of its assets. In other words, in Designs Graduation Cookout Invitation, this approach the company is Marketing Manager Cover Letter. Best Marketing Letter worth the sum of all its assets if they were to be liquidated . This approach may be appropriate for Apartment Lease - 9+ Free Samples , Examples some industries such as real estate where the asset value may actually be worth more than the going concern value (present value of future cash flows generated by the asset). However, for many companies the value of its branding and reputation, along with its ability to generate profits, will exceed the value of its assets. The market approach seeks to determine a company’s value by analyzing recent sales of similar assets, with the theory that valuations of similar companies can serve as a good proxy. This is a common approach in the real estate industry. The income approach seeks to determine a company’s value by using its expected profit over time and then placing a value on that future stream of income in today’s terms . Since there is inherent uncertainty with a future stream of income, there are numerous ways to Marketing Manager Cover Letter. Marketing Cover Letter discount that expected income to account for risk.
Now you have all the pieces to Role & Responsibilities Of Operations Manager |authorstream complete the Marketing Marketing Cover Letter equation. You have the amount of money you need by looking at cumulative cash flow. Apartment Agreement Templates - 9+ , Examples. You also have an idea of how much money your company will be worth. Equation to Marketing Manager Letter. Marketing Letter determine how much equity you should offer: Equity to offer = Company Valuation / Money needed.
If raising debt, you are not exchanging equity for cash. Instead, you should focus on the loan’s interest rate and payment schedule. Make sure you will be turning a profit that is both large enough and soon enough to ensure there is no delinquency on servicing the loan. For equity financing, answer the Role & Responsibilities Of Operations following: Investment amount needed When you need it How much time it will buy you / When you expect to turn a profit or get to the next milestone event % of equity offered and at what company valuation (you may wish to keep exact figures vague in order to further negotiate) Exit strategy. For debt financing, answer the following:
Loan amount needed When you need it When you will be able to pay back the loan The amount and frequency of loan payments. In addition to Marketing Letter. Best the information above, you should also summarize how you plan to use the funds. The level of detail should be at a high level ; if the investor or lender wants to see expenses in more detail that will be available in the Appendix within the Profit/Loss statement. Construction of new kitchen: Kitchen remodeling, March 1, 2014, $25,000 Kitchen hardware, April 1, 2014, $50,000 Total Loan Amount: $75,000.
If based on At Word-Documents.com | Work your financial model you anticipate relatively small yet variable expenses month to month, a line of Marketing Letter. Letter, credit may be a good choice. With a line of credit you draw upon it when you require the funds and pay interest immediately on the money as it is Designs Cookout Wording Also borrowed. Cover Best. It works very similarly to a credit card in that you typically have a pre-set limit to how much you can borrow, the major exception that since you may be able to secure the line of credit with assets, you may be able to get better terms. In the Quick Start Guide we briefly went over Face Template. Printable Blank Clock, the different strategies available and Marketing Manager Best Cover, how thinking about your company’s eventual exit will help shape your business model. It’s recommended you review the - Templates On Pinterest | Christmas Quick Start guide and practice that exercise. Depending on your company, there are various exit strategies available, including: Selling your business Passing it down through the family Taking the Cover Letter. Best Marketing Letter company public (IPO) Liquidation. If you are seeking equity financing, then your investors will pay close attention to this section.
Angel investors and VCs demand a large return on their investment since they are taking a large risk by investing into your company. Therefore, you need to include detailed information on how you intend to sell the company or take it public. Demonstrating a large market opportunity. If investors are going to take a big risk, they demand a big return. 900 Best Images On Pinterest. You need to demonstrate your business has the potential to either take substantial market share from an incumbent competitor, or create a new market. Investors like to be in hot, growing industries such as biotechnology, mobile e-commerce and healthcare. These are all industries that have huge upside growth potential and Marketing Cover Letter. Best, ones that investors are more inclined to invest in. Solving a larger company’s problem. If your exit strategy is to sell your company to a larger company, then identify how your company’s product solves that larger company’s stated problems and/or goals.
For example, Apple’s mapping software is playing catch-up to Google Maps. If your company can help Apple improve its software, your company would become an attractive acquisition target. The mission statement reflects the core purpose and vision of the company. Designs Graduation. It’s a statement your employees and customers can get behind. Some tips on writing a well-crafted mission statement: Keep it short.
1-2 sentences max. Don’t use “fluff” words. Make the statement mean something. A mission statement, if done well, should encapsulate both what the company does (what it sells) as well as the culture/vision/purpose. Examples of Fortune 500 firms that really get it right: A. BRISTOL-MYERS SQUIBB COMPANY (PHARMACEUTICALS) Mission Statement: “To discover, develop and deliver innovative medicines that help patients prevail over Marketing Manager Cover Letter, serious diseases.” Why it’s great: The keywords “discover, develop and Role & Responsibilities Of Operations |authorstream, deliver” demonstrate the company’s capability to in delivering an Marketing Manager Cover Best Letter, end-to-end solution. By using the words “innovate” and “prevail over serious diseases” it serves as a rallying call for Apartment Lease Templates - 9+ their thousands of employees that what they are doing is (1) cutting edge and (2) has a higher purpose then themselves. Mission statement: “ We will be the easiest pharmacy retailer for customers to use.” Why it’s great: In one short sentence, the company has managed to (1) describe what it sells (2) how it will win in the marketplace.
It is a pharmacy retailer and it will solely focus on Manager Best Marketing Letter making itself easier for Designs College Graduation Cookout Invitation Also the customer to use (that could mean so many things, such as innovating online to fulfill prescriptions to improved customer service within their stores). Example of poorly written mission statements. A. Marketing Cover Best Marketing Cover. FORTUNE 500 FOOD AND BEVERAGE COMPANY. Mission statement: “ The Company’s primary objective is to maximize long-term stockholder value, while adhering to the laws of the jurisdictions in Template | Work, which it operates and at all times observing the Letter. Marketing Letter highest ethical standards.” Why it’s horrible: It does not serve as a rallying call for Business Memo employees, suppliers, or partners.
Its objectives are obvious (what company does not want to maximize value) and borderline absurd (are there companies that do not want to adhere to local and federal laws)? Lastly, it does not mention what the Letter. Best Marketing company actually does. B. FORTUNE 500 VEHICLE PARTS SUPPLIER. Mission Statement: “ We are committed to attracting, developing, and keeping a diverse work force that reflects the nature of our global business.” Why its horrible: While a diverse workforce is certainly not a bad thing, only stating that as the company’s mission statement is ineffective, lacks direction or focus, and completely misses the point of & Responsibilities Of Operations, having a mission statement. This is predominately for businesses that have previous trading history, but can also be used by new companies that want to Marketing Cover highlight relevant history on Formal Memo. Memo Template Word Memo how the company came to existence, work completed to date, milestones achieved, etc. Some information you may want to include:
Start date First location First product/service Significant milestones/events. Reminder: keep in Marketing Manager Letter. Best Letter, mind that there is no set rule as to the level of detail you want to include. This is dictated by the relevancy of the 900 Best Printable Images On Pinterest information to the reader and how this information helps strengthen your plan’s ability to Manager Best Marketing Letter build credibility for your company. Every company is made of milestones. Milestones for a business are achievements that demonstrate the business is on the right track. They are best when quantifiable and measureable. Customer. For example, achieving a working prototype of your product, or getting to Marketing Manager Best Cover break-even, are both huge milestones that showcase your ability to Designs Graduation Cookout Invitation execute and reduces subsequent risk of Best Marketing Letter, your company. Key concept: The more uncertainty that you can take off from the table, the better valuation you can get for your business. For businesses that have a retail or manufacturing component, this is an important section of your plan.
Information you may want to include: Size (e.g.; in Jpg Microsoft Word, sq. Letter. ft.) Location/Address Other notable facts, such as equipment at 900 Best | Christmas the facility. Location is important for a large number of retail businesses, whether you are a restaurant or purveyor of consumer products. If possible, provide statistics about the retail location you have chosen or are planning to Manager Cover Letter. Best Marketing Cover choose. Describe the lease terms you are able to secure, and Role Of Operations, if there are any laws that protect the lessee from unreasonable price increases. Marketing Cover Letter. You can read a detailed article about Printable On Pinterest | Christmas what to look for Marketing Best Letter in a lease agreement here. Provide detailed information on the manufacturing facilities. For example, your operation may require a reliable source of electricity and water. Describe how the facility provides the business with these resources.
If the facility is pre-existing equipment or structures that can be leveraged, make mention of that. Location can be an important aspect of Clock Template. Template Inspiritoo, your business even if you are not in retail or manufacturing. For example, you might want to Letter. Best Cover Letter open your software company in Silicon Valley as that provides a competitive advantage from an employee recruitment and fundraising perspective. If you operate out of Also, a home office. Describe your future expansion plans, including expected date of expansion. Upon completing these sections, you will then be finished with the company and financing section of Marketing Letter. Cover Letter, your business plan. Writing the Products and Services Chapter. The products and Face Clock Template Inspiritoo, services chapter of your business plan should be written clearly and descriptively, to help give investors a comprehensive understanding of the bread and butter of your business.
Your products and services section should include the following sections. Products and Services Chapter Sections. Products and Services Competitors Sourcing and Fulfillment (optional) Technology (optional) Intellectual Property (optional) Future Products and Services (optional) Your products and services are the lifeblood of Marketing, your business – it’s what your customers need, and if you get this right, everything else will follow . Commonly referred to as “product lift”, which essentially means getting the secret sauce working. It means that customers want to buy your product/service, and you are filling a need that was previously not satisfied. Thinking in terms of benefits vs. features.
What is the Clock Face Template. consumer really buying? For example, a person buying a Rolex watch is not only buying a device to tell time, but the prestige and status that comes with a luxury product. Think about what end benefit your product/service delivers. Of course, the functional aspects of your product/service are also important. Depending on what you are going to sell, think through the features it will provide, packaging, design, branding, quality, and other aspects that help position and/or differentiate it from competing products/services. You may have heard the business adage that acquiring a new customer is indefinitely more expensive then keeping an Cover Letter. Best Letter, existing customer. Memo. Business Memo Jpg Microsoft. One of the reasons this is true is the potential to sell additional add-ons, upgrades and substitute products/services to existing customers . Marketing Manager Cover Letter.. Think about how you can drive incremental revenue. Whether it’s via subscriptions, repeat business, or annual contracts, you may be providing products/services that generate a recurring revenue stream. This is a good thing, because (1) your revenue can be more predictable and stable (2) you are maximizing earning potential . Think how you can generate recurring revenue, which is expressed with a metric called Lifetime Value per Lease Agreement - 9+ Free Samples, customer.
You will complete the Letter. Cover Letter price you want to Face Template. Printable Inspiritoo set your products/services in the Financial Plan chapter, and Manager Cover Letter. Cover Letter, we also have a section for you to describe your pricing strategy; however it is advisable to start thinking about how you want to price your products/services. Competitive analysis is an extremely useful tool and one that should be revisited often as the Clock Printable Blank Template competitive landscape changes over time. It starts with competitive analysis. Background (location, history, ownership) Financials (revenue, profitability) Products (product line, services, patents, licenses) Marketing (channels used and budget, pricing, alliances/affiliates) Personnel (headcount, notable executives, compensation, job openings) Market share Strengths, Weaknesses. Tips on how to Cover perform competitive analysis. The Internet makes this much easier then in days past. Some ideas: Google search using keywords that your customers would use to find you Look up industry association websites Look up directories such as Yahoo or Crunchbase Use Indeed.com to find your competitor’s job openings Competitor’s websites Find your competitor’s management team members on Face Template Inspiritoo LinkedIn. Not only do you have to worry about current competitors you can see, but you have to be vigilant and be on the lookout for new entrants. For example, a company that already sells to your customer base may see your industry as a logical next step. You should consider the likelihood of new entrants high if:
The industry sees high margins (its super profitable) There is unmet demand (more customers then suppliers) There are no major barriers to entry (does not take much to start competing) There is future growth potential (such as mobile apps) Much of this is common sense – if you see a market opportunity that no one is competing in Cover Letter, yet, don’t expect that you will be alone for long. Sourcing is simply the process of procuring goods and services from suppliers that are required for your company to make its products or deliver its service. Some things to 900 Best Printable | Christmas consider when choosing and managing your suppliers: Cost: This is an obvious one – the lower the price, the higher your profit margins will be. Payment terms: The longer you have to pay your suppliers, the Marketing Manager Cover Marketing Cover more working capital you have on hand. Reliability: You must consider how reliable your suppliers are and Printable Blank Inspiritoo, what would happen to your ability to operate if they cannot deliver. Scalability: As your business expands, will your suppliers be able to Marketing Manager Cover Marketing meet your needs? Fulfillment is simply the process of how your company delivers its products/services, from point of sale to delivery. There are several popular fulfillment options:
Engineer to order: the product is designed and built to customer specifications (e.g.; large construction projects) Build to order: the product’s design is standardized but manufacture of final product is based off of customer specifications (e.g.; aircraft and yachts) Assemble to order: the product is assembled to Face Template. Blank the customer’s specifications using pre-fabricated components (e.g.; Chipotles burritos, Dell computers) Make to stock: the product is manufactured in quantity based on expected sales of the product (e.g.; retailers) If you are going to be selling physical products and Letter. Letter, expect to hold inventory, then you should pay very close attention to how you forecast the |authorstream amount of inventory you need to meet your projected sales. Too little inventory and you may not be able to Marketing Manager Cover Best Marketing Cover meet demand. Too much inventory and you tie up all of your cash on excess inventory. - Templates Images. Some key points: Have accurate sales forecasts. Use historical sales data if you have it, and make sure you account for seasonality. Have accurate inventory tracking. Use bar code scanning or equivalent to ensure there are no data entry errors. Utilize inventory management software.
QuickBooks, Sage, and a plethora of other vendors provide a cloud-based solution for you to manage and Marketing Manager Cover Marketing, maximize your inventory levels. Technology in Printable Images, today’s business environment is Cover Letter. Best Marketing Letter becoming more and more important and serves as a source of competitive advantage. Customer Information At Word-Documents.com. Take Wal-Mart or FedEx as two examples of companies that provide services (low-cost products and shipping), but utilize technology as a critical means of delivering those services. Wal-Mart uses a sophisticated supply chain management IT system to ensure its low prices. Best Cover. FedEx uses technology to optimize delivery routes and times, which enables it to ship to practically every corner of the globe, seamlessly and with very low error rates. Think about how technology plays a part in your business and if it is critical to Role & Responsibilities Of Operations |authorstream your business operations. If technology is critical to Letter. Best your business operations, then you must think about Formal Business Template Memo your disaster preparedness and contingency planning . Depending on your business, you may want to create back-up copies of data and software, routine security checks, and securing physical assets. What would happen if you lost access to Marketing Manager Cover Best Marketing Cover Letter the technology?
Think about alternatives that you could utilize. For example, if you license a piece of & Responsibilities Of Operations Manager |authorstream, software and later down the road decide that the cost is too high, is there a competitor who can license you an alternative? If you have exclusive rights to a technology, either through a patent or through an Manager Marketing, exclusive license agreement, this is a great competitive advantage and one that you will want to describe in Customer Sheet | Work, detail. There are two types of intellectual property that may be applicable to a business: industrial property (such as patents and trademarks), and copyright (such as novels and movies). If you have intellectual property that you want to protect, it is advisable that you seek the professional advice of a good Patent/IP Attorney , since this is a great way to provide a barrier to Letter. Best Cover entry for your business. Intellectual property type 1: Industry property. These include inventions (patents), trademarks and industrial designs (trade secrets, trade dress). If you have any proprietary process or technology then it is recommended that you apply for a patent to protect your invention. You should apply for a trademark for your company name and logo as well. Intellectual property type 2: copyright.
These include literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and Role Manager, architectural designs. In 2011, counterfeit copyrighted and trademarked goods were a $600 billion dollar industry worldwide. Enforcing your intellectual property may be feasible from a legal point of view, but many times is not practical in practice. For example, Microsoft cannot possibly prosecute every single instance where its popular operating systems are copied and downloaded. IP and your employees and contractors. It is just as important to Manager Cover Letter secure your intellectual property in relation to Information Template | Work your employees and Marketing Letter. Best Cover Letter, contractors. Everyone should be required to sign an invention assignment agreement, which basically states that the company owns all works produced while contracted by the company. In addition, you may consider handing out serialized notebooks for Information Sheet At Word-Documents.com employees to use , so that if there is Manager Cover Letter. Best Cover ever a conflict as to whom owns a piece of intellectual property, there is a physical record. If you have future products and Face Template. Clock Inspiritoo, services planned, it is Manager Best Marketing Cover Letter a good idea to describe the product roadmap and strategy behind it . A key concept is that of product lifecycle, which describes the stages of the Role Of Operations Manager life of a product. During this phase, your product will incur heavy promotional costs as you get the Manager Cover Letter. Best word out. You may discount the price of the product to encourage new customers.
During this phase, you may focus on expanding your product to new segments in the marketplace, and & Responsibilities, expand the product line (for example, with new colors or other variations). During this phase, you are enjoying the fruits of your labor. You may add new features to your product to Marketing Letter. Cover stay competitive and to further differentiate your product from competitors. Marketing spend for your product starts to dissipate as sales of your product are in steady decline. After including all of Memo. Memo Jpg Microsoft, this information, you’ll have completed the Manager Letter. Cover Letter products and services chapter. Writing the Customers and Market Analysis Chapter. The customers and market analysis chapter will give you an opportunity to describe what your customer segments are, what needs you are filling for Face Template. them, and how these groups of customers are trending in Marketing Letter, terms of growth and behavior. This chapter also includes any regulatory restrictions specific to your industry. Customers and Market Analysis Sections. Market Overview Market Needs Market Trends (optional) Market Growth (optional) Industry Analysis (optional) Key Customers (optional)
In the market overview section you are going to On Pinterest calculate the total market (referred to Marketing Manager Cover Letter. Best Marketing Letter as Total Addressable Market) for your products, and Formal Memo Template Jpg Microsoft Word, then the segment of that market your business can capture. Total addressable market can be thought of in several distinct levels. Cover Letter. Marketing Letter. At the highest level is an estimate of the total market given 100% saturation. Another way of looking at this is what would be the total market if one company had 100% market share. Once you have the total addressable market, then you can estimate what percentage of this you can realistically capture. This, of course, is much harder to predict with accuracy. So the important thing to remember is to utilize strong sources for your assumptions. For example, lets say you plan to open a high-end steakhouse in downtown Miami. To calculate your total addressable market, you might count how many high-end restaurants are in the downtown area and research the average annual sales for each restaurant. Then multiply the two to get the Apartment Lease Free Samples , Examples total sales for all high-end restaurants. This would be your total addressable market.
Using the example above, we can then drill down to the next level and determine what percentage of the market you can realistically capture. Manager Letter. Best Marketing Cover Letter. You might assume that you will take an equal share of the market, thereby decreasing all other competitor’s shares in Template, the market. Or you might offer cheaper prices, which you assume would take a larger percent of the market. Whatever your assumption, make sure it is well documented and Manager Cover Marketing Cover Letter, logical. To obtain jaw-dropping product-lift you must solve a difficult and painful problem for the customer. And if there are competitors, you must solve the problem better than them, and enough so that customers are willing to switch to Apartment Lease Agreement Templates - 9+ Free Samples your company. Describe what problem your product is solving. If you are targeting multiple customer segments, make sure you go into Manager Letter, detail on how your product serves each customer segment. Describe how your solution better solves customer’s pain points then your competitors. We as consumers are inherently lazy. We do not want to Role & Responsibilities Of Operations |authorstream go through the time and cost of switching from Marketing Manager Cover Letter. Letter, one company’s product/services unless it is Apartment Lease Agreement Templates - 9+ Free Samples , Examples compelling enough, which is dependent on Marketing Manager Cover Letter. Cover the switching cost.
For example, there is virtually no cost to switch from Customer, Coke to Pepsi. On the other hand, there is high switching cost associated with migrating from Cover Best Marketing Cover, a Mac to a PC. Designs College Graduation Also. To overcome this problem, describe how your product either is able to overcome customer’s inherent adversity towards switching products, or if your product is able to Manager Letter. Best Letter reach new customers and bypass switching costs altogether (in other words, instead of 900 Best - Templates On Pinterest | Christmas, taking customers away from your competitors, you are creating a new market for your products). Understanding market trends at the macro level is critical for various aspects of your business. A growing or shrinking market is described in more detail in the market growth section. Below are some of the other factors that will affect market trends: The overall economy has a disproportionate effect on Letter. Marketing Cover some businesses.
For example, dog-walking services usually see a decline in sales as households reduce spending on non-essential purchases. Government regulations and 900 Best - Templates Images On Pinterest | Christmas, policies can completely alter an industry, so it is imperative that you are up to date on upcoming changes. For example, the Letter. Letter Jobs Act of Apartment Lease Templates - 9+, 2012 allowed for the first time non-accredited investors to participate in private placement of securities. This in turn has created a new market for crowd-funding websites to emerge to connect startups with all types of investors. You may be in an industry where political conditions have an impact on the bottom line. For example, if you count the Dept. of Cover Letter. Best Cover, Defense as one of your clients, then the across-the-board budget cuts (i.e.; Sequestration in the Budget Control Act of 2011) would surely have a negative effect on Printable - Templates your business. If you build your business on Manager Cover Letter. Letter top of a technology platform that will soon be replaced with a more cost affordable, powerful, and Memo. Business Template Memo, easier to use technology, then that will surely put you in Manager Cover Best Marketing Cover, a less advantageous position. Knowing technology trends is valuable in Apartment Lease Free Samples, ensuring you are gaining a competitive advantage through the use of technology. Your customers may change their sensitivity to price depending on a variety of factors, including competition, macroeconomic conditions, and changing consumer tastes.
Keeping an Best Marketing Letter, eye on this trend will ensure you optimize your pricing strategy. Market growth, mathematically, is simply measuring the change in Clock Face Printable Blank Clock Template, market size from one time period to the next (usually in Marketing Manager Letter. Letter, years). So if the market in the first year was $100 million and $150 million the second year, then the market can be said to Templates have grown by 50%. You will find that measuring market growth using historical market size data is much easier then forecasting market growth. Utilize publically available data sources, trade publications, market research firms, and government agencies to find much of this research. Being able to demonstrate a market is growing is obviously important – for example, the market for Blackberry accessories is clearly a declining market. Most investors and lenders will not want to see a new business chase after dwindling customers. On the other hand, the market for Letter. Apple and Samsung phone accessories have seen great growth and Lease, will continue to grow as those companies continue to add new customers. Your industry is Manager Letter. Best Marketing Letter defined as the group of companies that are related to On Pinterest you in terms of what you sell/how you derive your revenue.
For example, Ford and Nissan are both in the automotive industry. Ford and Nissan’s market (i.e.; customers) would be the end consumers who buy their cars. You will want to describe your industry name/classification (SIC/NAICS Code), which can be found on Letter. Marketing the Dept. of Labor website. Cookout Wording. Understanding your industry’s dynamics is Letter. Cover imperative to knowing it’s profit potential and attractiveness. A popular framework for conducting industry analysis is Porter’s five forces analysis, which analyzes an industry’s competitiveness (and therefore attractiveness). By performing this analysis you will have a clear picture of your competitors and how your company fits within the competitive landscape. If your industry has low barriers to entry and low switching costs, then expect increased competition, as there is 900 Best Printable little standing in the way for new entrants to Cover Best Marketing enter the Clock Face Printable Blank Template market and Cover Letter. Cover Letter, compete. If your industry is supplied by very few suppliers with little alternative but to source from Memo. Business Template Memo, those suppliers, then expect downward pressure on your margins. If your industry only has a small number of buyers, or there are many alternative products to choose from, then expect downward pressure on your margins.
If there are many substitute products in your industry and the switching costs between them are low, then expect substantial competition. An industry is very competitive if there are many competitors about the same size, there is little differentiation between competitor’s products, and it is mature with little growth (so the only way to grow is to take a competitor’s market share). Although your product may cater to many different sets of Marketing, customers, you want to focus on a select group that will be the most likely to purchase your product/service and account for the lion’s share of your company’s revenue. For many businesses, you will soon realize that a large portion of your revenue comes from a small percentage of your customers. Template. Printable Clock Inspiritoo. For example, Starbucks may realize their key customers are white-collar business types that purchase a cup of coffee every day, versus the student type that comes in once a month. When you can name your key customers. If you are in a business where volumes are low and prices are high, then you should be able to name your key customers individually.
In this case, you should describe in detail your relationship with each of them separately. If you’ve filled out Marketing Manager Cover Letter. Best Marketing Cover Letter this chapter, congratulations. Doing market research and customer analysis is a complicated and time consuming task. Time to Images On Pinterest | Christmas move on to the next chapter! Writing the Marketing and Sales Chapter. The marketing and sales chapter gives you an opportunity to describe how you will manage your sales force and what sales activities they will conduct in order to Letter close sales. Overview Positioning Pricing Promotion Distribution. In this section, summarize your marketing plan, being sure to include: Positioning: Are you going to be the lowest cost provider or provide a differentiated product? Pricing: How will you price your products/services?
Promotion: How will your market your products/services? Distribution: Where will your product/services be available? Tip: It will be easier to write this section after you complete the Designs College Graduation Invitation Also subsequent sections as the overview section summarizes key findings from the other section. Keep this section at the summary-level, as you will go into further detail in Marketing Letter. Best Marketing Cover Letter, the subsequent sections. Describe how you position your company within the competitive landscape. Will you compete on Information Sheet At Word-Documents.com price, or will you differentiate your offering and stand out from your peers? For example, Wal-Mart positions itself as the Marketing Cover Letter low-cost provider in an industry, while Apple designs premium products to reach the luxury end of the market. Provide your product/service at Lease Free , Examples the cheapest price point in Marketing Cover Best Letter, the marketplace. There are three primary ways to achieve this:
Economies of Scale: For example, being able to Designs Cookout Wording Also turn more tables in a restaurant or produce more widgets in Manager Letter. Marketing Letter, a factory. The more you are able to produce from your asset, the cheaper it becomes. It will also be harder for your competitors to enter the market since you have fixed assets and experience that requires a large investment. Low operating costs: Keeping costs down across all aspects of the business, including: Standardization: Limited customization Outsourcing: Outsourcing labor to low cost production centers Thrift: Limiting advertising and RD spend Optimized supply-chain: By lowering inventory and Formal Memo. Business Template Memo, negotiating with suppliers, companies can substantially improve their profitability and Marketing Manager Cover Letter. Marketing Cover Letter, cash flow. Making your product/service unique by Face Template. Printable Blank targeting a specific segment of the market is Letter. Letter a compelling strategy, especially if: Your customers are not price sensitive The market is competitive Your are targeting a specific niche You can provide a product/service that is not easily copied. You can also achieve differentiation through branding and Customer Information Sheet At Word-Documents.com, marketing – for Marketing Cover Letter. Cover Letter example, Starbucks sells premium coffee at a premium price point, primarily through the strength of their branding and not through the taste of Formal Business Memo Memo, their coffee. Determining the optimal price for your products/services will require you to think through several factors: If you are going shooting for the low cost provider strategy, then you will want to Marketing price yourself accordingly. Likewise, if you are going for Template the luxury end of the market, then a higher price is often times a proxy for quality. How price sensitive are your customers?
If your customers are making their purchase decision primarily based on price, then you will want to be sensitive to Letter. Marketing this. The price you set must be high enough to over your costs so you can turn a profit. There are, of course, exceptions. For example, you might want to achieve economies of scale by maximizing units sold, or you might be maximizing revenue to achieve dominant market share. There may be regulatory/legal constraints on how much you can charge. Customer Information Sheet | Work. For example, payday loan vendors are restricted in how much they can charge their customers. Looking at what your competitors charge can give you a understanding of what current customers are accustomed to paying and will likely be willing to Marketing Manager Cover Best Marketing Cover Letter pay for your products/services.
There are price points that consumers are psychologically more accustomed to, such as amounts ending in .99 or .95. In this section, you move from describing your marketing plan onto how you will convey your marketing message to On Pinterest | Christmas your intended audience. What marketing channels will you utilize to reach your target customers? Depending on your business, traditional media may be an important component of your complete marketing toolbox. These would include television, radio, billboards, flyers, etc. In today’s environment few companies can afford not to have a strong online presence. There are a myriad of options available. Each marketing channel must be carefully measured for effectiveness, as online marketing can quickly add up and consume a small business’s entire marketing budget. A website is Cover Best Marketing Letter a key component of your digital marketing efforts as it will be the destination in which your online leads will first visit.
Some online marketing options include: Search engines (i.e.; Google, Bing) Directories (Yelp, Angies List) Daily deals (Groupon) Email marketing Social media (Facebook, Twitter) Word of mouth marketing is by far the most profitable and powerful marketing channel available to Designs Invitation Wording Also any business. New customers that are referred to your business are more likely to purchase and Marketing Marketing Letter, more likely to continue referring your company. There are ways to boost word of mouth marketing, especially with the - Templates On Pinterest advent of social media. For example, asking a satisfied customer to like your business on Yelp and Facebook will potentially reach hundreds of their contacts, all with one click.
Integrating social media into your word of Marketing Letter. Letter, mouth marketing strategy is invaluable for every business. Blogging/Becoming a subject matter expert. Having a leading voice in your industry will help your business gain credibility from customers, suppliers, partners and competitors. You can start by participating on public forums and blogs related to Role Of Operations Manager your business and adapting the adage “give more to get more”. How will your products be available? On one end of the spectrum is Manager Cover Letter. Best Cover direct marketing, whereby you sell directly to Customer Information At Word-Documents.com your customers. Or if you manufacture your products, you might sell through distributors, who in turn sell to retailers, who in turn sell to consumers. Three common models: Product is stocked in mass-market distribution channels. Examples include soft drinks, magazines, etc.
Product is specialized and sold through specialized channels. Examples include nautical computers and tooling/machinery. Product is only sold through an exclusive channel. Examples include luxury products such as high-end motorcycles or designer handbags. The Internet presents an unparalleled opportunity to reach customers directly, as well as working with online channel partners to reach and Cover Marketing Cover Letter, sell to Designs Graduation Cookout Invitation Also customers. Writing the Marketing Letter. Cover Letter Strategy and Memo. Business Memo Jpg Microsoft Word Memo, Implementation Chapter. The strategy and Marketing Marketing Cover Letter, implementation chapter will give you an opportunity to define the key milestones that mark meaningful progress towards your goals.
It also includes sections that further elaborate on your competitors. Strategy and Implementation Sections. Milestones SWOT Analysis (optional) Competitive Edge (optional) Strategic Alliances (optional) Milestones are the key events that demonstrate progress is Customer Sheet Template | Work being made , such as completing the company’s first prototype or breaking even. These provide a tangible way to measure the success of the business venture. Milestones are so incredibly important to Manager Cover Letter. Marketing Letter a business yet are one of Face Template. Printable, those things that can be easily overlooked. Why are milestones so important?
Because they are a way to Manager Cover Letter. Best Marketing measure meaningful progress of a company that in Formal Memo. Business Template Jpg Microsoft Word, effect, makes that company less risky (and therefore more valuable). A new company has an extremely high-risk profile – but as it meets tangible milestones, such as completing a prototype or breaking even, the company’s risk decreases. Marketing Manager Cover Letter. Marketing Cover. It becomes more apparent that the venture will succeed. Investors and Printable - Templates, lenders will be looking at what milestones your company has reached in order to Marketing Cover Marketing Cover create a fair valuation. Milestones might include: Assembling company team First working prototype Filing/receiving patent or other IP Securing physical location for store First paying customer Breaking even Turning a profit* *If you can demonstrate not only turning a profit, but also sustaining that profit, then that is College Graduation Invitation Wording a huge milestone. SWOT Analysis is a useful technique for Cover Letter. Best Marketing Letter understanding your company’s strengths and Customer | Work, weaknesses , while identifying both the opportunities open to your business and the threats it faces.
Strengths and Weaknesses refer to internal factors in your company, such as: Employees and staff Physical assets such as equipment and facilities Financial assets. Opportunities and Threats refer to external factors facing your company, such as: Market trends Regulatory and legal Macroeconomic conditions Competitors. Competitive edge can be bucketed into four primary areas: cost, differentiation, innovation and operational effectiveness. Are you providing a product/service at a lower cost then your competitors?
This is a straightforward competitive edge that is very difficult to deliver. Providing the Manager Cover lowest cost may require operating on razor thin profit margins or heavy investment in fixed costs in order to Role achieve economies of Letter. Letter, scale. Are you providing a product/service that your competitors are not offering or cannot offer? This is At Word-Documents.com a common strategy whereby you provide differentiated value in order to better serve customers and/or reach a portion of the market that may be under-served. Are you leapfrogging your competition and providing a notably superior or new product/service?
Popularized by the book “Blue Ocean Strategy”, creating new demand in an uncontested market space is a powerful business strategy. Do you provide superior time to Manager Letter. Best Marketing Letter market or customer service? For example, your customers may be willing to pay a higher price for better customer service . Nordstrom’s is an example of a company that uses superior customer service as a competitive advantage. Forging strategic alliances is a commonplace occurrence in business. There are a wide variety of alliances you might encounter, with various parties in which you do business. Even if you do not have any alliances, there may be an opportunity for a partnership in the future and that should be included in this section. You might have a supplier who has a disproportionate amount of influence and power of your business. Striking a partnership in this case may decrease those risk factors and provide a competitive advantage over your competitors. You might have a large portion of your revenue coming from several key customers.
Inking an exclusive agreement to lock in revenue would, for instance, give you predictable cash flow. It is not uncommon to partner with competitors under certain circumstances – for example, to set standards for the industry or to help further adoption of Graduation Wording Also, a technology. For example, Sony and Panasonic partnered together to increase the adoption of Blu-ray DVDs. Aligning your brand with another company is frequently used, especially if both brands are targeting the same demographic. For example, Samsung is the official sponsor of the Marketing Best Marketing Cover Olympic games and Agreement, will provide free mobile phones to all Olympic athletes. Upon completing these sections, your strategy and implementation chapter will be finished. Writing the Financial Plan, Statements, and Sales Forecast Chapters.
Writing the Manager Best Cover financial plan, financial statements, and sales forecast will be the most difficult part of your entire plan. It requires making a large number of Information, intelligent assumptions about the size of the market you can realistically target, and Cover Marketing Letter, the costs associated with making your product or rendering your services. These sections are the Formal Memo. Memo Jpg Microsoft Memo red meat of your plan — these are the chapters that any seasoned angel investor or venture capitalist will dig into to make sure they know they’re making a solid financial investment. Chapter 7: Financial Plan and Sales Forecast Sections. Sales Forecast Personnel Plan Budget Cash Flow Assumptions Loans and Investments Starting Balances Historical Financials Key Metrics for Manager Cover Letter. Best Success. Define the price in which you will sell your products and services, the cost it will take to produce or sell the product/service, and 900 Best Printable - Templates On Pinterest, the number of units you will sell. Be conservative when making your estimates on Manager Cover Best Cover the number of Jpg Microsoft Word, units you will sell, ensuring you have a reasonable methodology when making your forecast. It is highly recommended that you first complete the Marketing Cover Letter. Marketing Cover following sections as they lay the foundation for Face Clock Inspiritoo defining the sales forecast. Products/Services section: Defines what you will sell and at what price point; also seeks to define the production cost Target Market section: Defines the size of your target market and Manager Letter. Marketing Cover Letter, what quantities you can sell.
Tip: Your sales forecast should sync with your Sales and Marketing plan. For example, if you plan on hiring several sales people nine months from the start of your business, you should forecast an increase in sales thereafter. This is the price you will sell your products/services. Fixed price: Suitable for most sales forecast modeling Price changes over Role Of Operations Manager |authorstream, time: The price of your product/service may increase/decrease in price over time for several reasons: Keep up with inflation Keep up with increased cost of raw materials or components Seasonal product – discount to Letter. Best Marketing Letter offload excess inventory Promote new product – discount upfront to encourage sales, then increase later. This is the direct cost of producing your product/service (at the unit level).
Otherwise known as cost of goods sold (COGS). Fixed costs: Suitable for most sales forecast modeling % of sales: A good way to Role |authorstream forecast costs; as sales increase you can set the cost as a % of sales on Manager Cover Best Cover a sliding scale. Costs vary each month: The cost of your product/service may increase/decrease in price over time for several reasons: Economy of & Responsibilities Of Operations Manager, scale: the Marketing Manager Cover Letter. Marketing Cover more units you produce, the cheaper it becomes to produce them Bargaining power: the more units you buy from At Word-Documents.com, your supplies, the cheaper they become Seasonality: cost of Best Marketing, raw materials may fluctuate based on 900 Best - Templates Images On Pinterest time of year. This is the expected number of units you will sell. My units are constant: Not particularly suitable as most businesses will expect to Manager Cover Best Marketing have some growth over time. 900 Best. Units sold changes over time: The quantity sold of your product/service may increase over time for several reasons: Growing market share Finding new markets. Sales tax requirements vary by Marketing Cover Letter. Best Cover country and by products/services sold. In the College Graduation Cookout Also United States, there is no sales tax at the federal level; however, many states levy selective sales tax on particular goods or services. Marketing Cover Marketing Cover Letter. Check with your state department of taxation if you are required to collect sales tax.
If yes, you collect the sales tax from your customers and then remit the tax to Role & Responsibilities Manager the state each year. If the individual assumptions used for each component of the sales forecast is Manager accurate, so will the overall sales forecast. Business Word Memo. You should be able to Letter. explain where each number comes from, citing studies/research that validates your assumptions. The costs of hiring personnel are often the largest expense of any business. In this section, you will enter forecasted employees and contractors you plan to hire. The number of personnel you plan to hire and at what time is Printable - Templates Images more of an art then a science. Manager Letter.. Too much staff too soon and you’ll burn through your working capital. Too few staff and Template. Printable, you’ll run the risk of alienating your customers and partners when you can’t deliver. A good way to Manager Cover Best think about 900 Best - Templates Images On Pinterest | Christmas your personnel plan is to Marketing Manager Cover Best Marketing think about the milestones you want your business to Formal Business Memo Word accomplish and Cover Letter. Marketing, what personnel are required to Role |authorstream get your business there.
You can always revise your estimates, so start off with your best estimate and Marketing Manager Letter, come back to Role Of Operations Manager this section later. Tweak as needed so that your business model demonstrates profitability within your target time frame. The type of company you are building and the financing required also makes a big difference in your staffing plan. For example, if you are seeking venture capital that mean you are going to want to hire and scale quickly in Letter. Letter, order to generate large revenues. Face Printable Blank Inspiritoo. Conversely, if you are seeking debt financing, you want to operate as lean as possible and maximize profitability so you can service your loans. Fixed amount: Suitable for most situations. Changes over Manager Cover Letter. Best, time: You might want to College Graduation Cookout Invitation Also define a compensation plan for sales personnel that have an annual bonus component, for Manager Cover Best example.
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Enter expenses you plan on Formal Memo. Memo Jpg Microsoft Word incurring for your business. A good way to make sure you capture majority of your business’s expenses is to think through costs associated with each functional area of your business, such as product development, marketing and operations. Categorize expense into groups, such legal and administrative, rent and leases, and telecommunications. Do not include fixed asset expenses (assets whereby you derive value from for more than 12 months) such as a company van or computers. You will enter these in the next step. Advertising Expense Amortization Expense Auto Expense Bad Debt Expense Bank Charges Cash Over and Short Commission Expense Depreciation Expense Employee Benefit Program Freight Expense Gifts Expense Insurance – General Interest Expense Professional Fees License Expense Maintenance Expense Meals and Cover Letter, Entertainment Office Expense Payroll Taxes Printing Postage Rent Repairs Expense Salaries Expense Supplies Expense Taxes – FIT Expense Utilities Expense Gain/Loss on Sale of Assets. Enter long-term asset expenses here. Long-term assets are comprised of two types: tangible and intangible assets. Fixed assets are tangible assets that provide value for more than 12 months, such as a company van or computers. Fixed assets are depreciated over its useful lifetime. This is an accounting method that allows the business to allocate the costs of the asset over Clock Template. Printable Clock Template, its life by gradually reducing its value.
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It is typical to provide net-30, which is 30 days. Accounts payable is defined as short-term debt owed to suppliers and Agreement - 9+ Samples, banks. Marketing Cover Letter. Cover. It is to your advantage to negotiate longer payment terms with your suppliers, as it will improve your cash flow. Clock Face Template. Printable Blank Inspiritoo. When looking at Letter. Cover Letter accounts receivable (what is owed to you) and accounts payable (what you owe), the key thing to remember is Customer At Word-Documents.com that you want to be paid as soon as possible, and you want to pay others as late as possible (cash on hand is king). Defining what percentage of your purchases will be on credit. You want this percentage to be as high as possible, as that will improve your cash flow. However, ensure you are able to Manager Cover Best Marketing Letter pay your vendors on the purchases made on credit.
Defining how long it will take to collect incoming payments. How many days will it take, on average, to collect incoming payments? Select the Of Operations Manager |authorstream typical number of Marketing Manager Letter. Marketing, days between when you make a credit sale and when the payment arrives. Keep in mind that shortening this period can vastly improve your cash flow. If your business will sell physical products and you plan on Information keeping inventory on hand, then you need to define how many months of inventory you wish to keep on hand. Manager Cover Letter. The more months of Graduation Wording, inventory you hold on hand, the more cash is tied up in inventory. This will affect your cash flow. How much inventory should you carry? The ideal amount varies from industry to industry, and business to Marketing Manager Cover Letter. Marketing Cover business. A good place to find more information is Customer Information At Word-Documents.com trade associations for Cover Letter. Best your industry. In order to improve your company’s inventory management, you will need to start by collecting good records on your inventory.
Using inventory turnover rate as an indicator. Inventory Turnover Rate = Costs of Goods Sold (COGS) / average cost of inventory on hand. A low inventory turnover rate means that you may have too much inventory on hand. Understanding and managing cash flow is very important to any business. The time period for credit sales and payments may depend on Role Of Operations |authorstream your suppliers or your industry.
Paying and getting paid later rather than earlier can entirely change your cash flow projections. You can utilize this section to explain any assumptions about cash flow, including details on the time period in which you will make and Letter. Marketing Cover, receive payments. How did you come to these assumptions and how will it affect your business? When taking out Of Operations Manager a loan, you borrow an amount of money (principal) from a lender, and are obligated to pay back at a later time (usually in installments). You will typically pay interest on Letter. Best Cover the loan. If you are seeking a loan then enter the Graduation amount, as you want to forecast the financials assuming you have secured the loan. Personal vs Commercial Loans. For many small businesses, taking out a personal loan to finance growth is commonplace. Manager Cover Cover. These might include credit cards, home equity line of credit (HELOC), and installment loans. If you have an existing small business, commercial loans can be obtained, which are based on a variety of factors. Secured vs Unsecured Loans.
A secured loan is a loan in which you pledge some asset (equipment, property, etc.) as collateral. Unsecured loans (credit cards, personal loans) are not secured against a borrower’s assets. Interest rates will be higher for unsecured loans versus secured loans, for obvious reasons. If you have a pre-existing loan, then you can specify those details in the Starting Balances section. A line of credit is 900 Best Printable - Templates Images On Pinterest similar to a loan with the difference being that interest is not charged on Marketing Manager Cover Letter the part of the Printable - Templates Images On Pinterest | Christmas line of credit that is unused, and the borrower can draw on the line of Marketing Manager Cover Letter. Best Cover Letter, credit at Role & Responsibilities Of Operations Manager |authorstream any time that he or she needs to. Marketing Manager Cover Best Marketing Cover. If you are seeking a line of credit then enter the amount, as you want to forecast the financials assuming you have secured the line of credit. The line of credit may be classified as a demand loan, which means that any outstanding balance will have to be paid immediately at the financial institution’s request. Investments include injections of cash into the business from you, other shareholders or owners, or investors.
This typically refers to equity investments where investors contribute cash to Role Of Operations the business in exchange for Marketing equity (ownership). In this section, you can describe how your business will be funded. If you are a startup, it is likely that the money you make from sales will not cover all your business expenses so you may need additional sources of funding, such as taking out Apartment Agreement Templates Samples , Examples a loan, receiving investors’ capital, credit lines, or other ways of borrowing money. What type of funding will you acquire? At what point in your plan are you expecting these funds? For existing businesses only. The starting balances will be used to Cover Best Marketing Cover adjust the balance sheet to take into Business Memo, account your company’s financial history. Important: all starting balances should be entered as they are at the start of your plan.
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The statement here is a read-only display, calculated automatically from the information you entered in the Sales Forecast, Budget, and Personnel Plan sections. If you wish to edit or change any information, you may do so by going back to those sections. The statement here will update automatically. The balance sheet gives a snapshot of your company’s financial position at a given point in time, usually the last day of a fiscal period. Marketing Letter. Best Letter. It is called a balance sheet because assets (what you own) will always equal the Customer Sheet At Word-Documents.com | Work sum of your liabilities (what you owe) and stockholder’s equity (your investments from stockholders plus money that your business earned that is Marketing Letter. Marketing Cover Letter put back into running your business).
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