Terry H. Hill asked:


Running your own business is a highly rewarding, but often a risky endeavor. As with anything else, increasing your chances of success begins with preparation. And when it comes to transforming your dream into reality, the key to successfully jump starting your business is simple: plan the work and work the plan. Whether you?re just getting a new business off the ground, expanding the business you have, or purchasing a business, devote plenty of time to planning:

? Begin with a discovery process to confirm the viability of your venture.

? Do your homework.

? Uncover fundamental objectives, insights, opportunities and risks.

? Research the market.

? Examine your offering, market conditions, trends, and the competition.

? Excavate potential problems.

? Outline your goals and objectives.

? Compile the business intelligence you need to create a solid foundation of actionable

information to chart your present and future direction.

The next logical step is to develop a plan?a strategic business plan that functions as a living document to define your objectives, guide your business, and take you from Point A(where you are today) to Point Z (where you?d like to be). But remember?a strategic plan is about more than securing funding?it?s essential to jump starting your business. And once you?ve written your business plan, follow it up with an action plan that spells out your short and long-term objectives and how you?ll achieve them.

Just remember this?there is no underestimating the power of planning. As the former CEO of Octel and Lucent Technologies notes, ?People usually plan their vacations more carefully than they plan their careers. I?m a compulsive planner, but there were times when I had no idea what I was doing.?

Even when you have no idea what you?re doing, developing and implementing a plan improves your chances of achieving your goals. This article outlines the fundamental components of crafting a strategic plan to take your business to the next level.

What is a strategic plan?

Strategic planning is the process by which the key stakeholders (you and your partners) in an organization

envision its future and develop the procedures and operations that will enable you to achieve that vision.

A strategic business plan serves two purposes. First it?s an internal document that defines your goals, strategies, and tactics. Second, it?s a tool for raising capital. However, you need a plan, whether you?re looking for capital or not. Without a plan you won?t know where you?re going and you have no way to benchmark or track your progress.

With a strategic plan you have a roadmap that enables you to look ahead, allocate resources, focus on key points and prepare for problems and opportunities.

A well-articulated strategic business plan clearly outlines your vision, goals, priorities, strategies, products, services, and financing needs. It also provides relevant information about your company, your management team, and short- and long-term objectives. Highlighting both the positive and negative aspects of your business opportunity, your strategic plan should look ahead from three to five years.

How do I write a business plan?

As they say, there?s more than one way to skin a cat. Likewise, there?s more than one way to write a business plan. Formats, outlines, and lengths vary. But they all tend to share a generally accepted format and certain standard components.

Your plan must be clearly written, logically organized, and convincingly worded. It should target a specific audience. It should outline the details of financing, competition, strengths, weaknesses, and forecasted financial performance. As a rule of thumb, when writing your plan, include the following components:

? Cover letter?write a cover letter to introduce you and your business plan to your audience.

? Title page?include a title page that details the content of your plan, your name, address, phone number, names and positions of the executive team, date and contact information.

? Table of contents?add a table of contents to make it easy for readers to find information.

? Statement of purpose?include a clearly stated explanation of your company?s goals and how you?ll achieve them. For example, your statement of purpose may be ?to provide quality, reliable landscaping services for less in the Phoenix metropolitan area?. Describe your value proposition, whether it?s price, convenience, service or another attribute, how much capital you?ll need, and how you?ll repay it.

? Executive summary?this is the most important part of your business plan. Include a brief summary that highlights the major points of your plan. Provide background on your business, the market, your value proposition, key team members, projected ROI (Return on Investment), internal rate of return, and current and potential risks.

? Market information?describe your target market(s). Substantiate statements with facts and supporting detail. Include market research on initial and future markets, key market segments, past growth rates, anticipated trends and changes.

? Company?describe your company, its type, history, legal structure, industry, market, principals, revenue size and growth rate.

? Product/service description?describe your offering, relevant business benefits, stage of development, how your product/services will satisfy a real business need and enable you to compete.

? Management team?include detailed information on the core members of your team?the people who will run the company, as well as senior partners, attorneys, financial and business advisors. Include names, titles, experience, skills, responsibilities and compensation.

? Potential risk factors?include an assessment of the risks facing the company. Describe the worst-case scenario and anything that could go wrong today and in the future. Offer strategies for overcoming risk.

? Execution/action plan?describe how you?ll translate your business plan into actionable results down to the finest detail. Describe how you will obtain licenses to do business, open an establishment, get products on the shelf, hire employees, and forge partnerships. Describe production schedules, delivery processes, and customer service policies in order to set operational benchmarks to measure progress.

? Financial information?Include a section that projects future revenues and profits three to five years out. Base this information on best-case, worst?case and most likely-case scenarios. Summarize financial data like cash flow, income statements, balance sheets, banking relationships, terms and rates of loans, financing plans and working capital requirements.

? Legal preparation?includes corporate bylaws, patents and trademarks, licenses to do business, employment agreements, and customer contracts. Anticipate the legal and documentary setup your business will require. Writing a business plan can seem like a daunting task. However, there are many resources available to help you prepare a sound plan. You can find books in your local bookstore, software programs and templates online and in local computer/software stores or you can work with a consulting firm, a nearby Small Business Development Center or a local business school.

No time like the present to start to plan your work and work your plan. Happy planning?

Barry Byers asked:


Finding the right person to fill for your temporary management needs can be difficult. Based in London, Interim Management London is a service that can provide you with multi-discipline, experienced, senior Managers and Interim Teams to deliver external and internal projects to corporate clients throughout the UK.

Interim Management London provides experienced senior level management executives throughout the UK when and where they are needed. Their business is based on giving clients a personal service that is second to none. If you have an issue, Interim Management is there to help.

Interim Management works on an individual approach with clients. They ensure that they work side by side with their clients to determine both personal and corporate delivery of objectives. By assessing your business culture and the standards by which you work, Interim Management is then able to identify the right person or team for the job. Upon arrival to your business, managers have been fully briefed about their expectations and job at hand and are ready to add value from day one. During the assignment, progress reports are reviewed to ensure everything is going as planned and is up to the client’s standards and satisfaction.

The major disciplines at Interim Management are Project Management, Management Accountants, Strategic Procurement, IT Project Management and Human Resources. Their client sectors are Defence, Government, Construction and Aerospace.

Interim Management’s services are flexible and the terms and conditions are completely dependent on each client’s requirements. The Interim Managers are individually selected for every assignment based on your needs and business culture, the sector and discipline experience, and optimum chance of achieving the objectives with minimum risk.

In times of need Interim Management London can be there to help maintain the standards of your business. If you business is experiencing a turnover, Interim Managers can offer temporary replacement of departed senior managers so that you can maintain continuity of leadership during times of change. If you need to focus on organizational growth, Interim Management London can provide the expertise to meet the needs of current clients so you can focus on organizational growth. If your seniors are experiencing heavy workloads, additional temporary help for senior managements can be provided as well as help your company with special projects and mentoring for new executives.

TIME interim management team members are available at short notice. Equipped with a wide array of expertise, the team is able to quickly grasp your organizational objectives and take on leadership roles to help meet them. Our Interim Management professionals offer your company balance and blend into your workplace enough to succeed as leaders but also offer impartial advice and new ideas as a third party. By being in the office, but not completely immersed in the corporate culture, they maintain their unique presence, perspective and clear focus on your goals.

If your company is in need of temporary senior level management and you can’t afford to have a bump in the road, contact Time Interim Management Executives at 0207-152-6406. Your company has a high level of excellence to maintain, let us help you by providing you with excellent service.

Yamen Shahin asked:


This article teach you how to benefit in the management of the business using your presentation skills.

Before the presentation:

Knowledge of the characteristics of the offeree the most important factors to the success of the presentation, they lead you to determine the style and language to be used, and will it be: Official or friendly. Professional, technical or slang. General information or specialized. Total or in detail

During the presentation:

? Be sure to follow listeners by your eyes fair and balanced.

? Noted the actions of the present and careful interpretation of physical expressions of the audience.

? Understanding of the situation and conditions of the audience: air, as food, stress after the working day, come from travel, and others.

Elements of the presentation:

? Introduction

? Content

? Conclusion

A-Introduction:

Designed to pave the audience and informing them about the elements of the subject.

A good Introduction made clear to the listeners the nature of the subject matter, showing them what to expect from the presentation, and the expectation of the speaker from them.

Elements of the introduction:

? Extended greetings to the audience

? Introduce yourself

? Substance of the presentation (the title)

? Time of the introduction

Content of the introduction:

? Reference to what should not be expected from the presentation

? Reference to training aids, material science, literature ,….. And other

characteristics of successful introduction:

successful Introduction must lead to:

? Attract the attention of listeners

? Break the barriers and melting the ice between the speaker and listeners

? Make listeners feel the importance of the presentation subject

? Make listeners feel of their need to information provided

? Reduction of excess expectations of listeners

? Suspense to engage listeners on presentation.

how to start an Introduction:

There are many models of good beginning, including:

? The issue of Introduction: will speak at the next hour….

? Communication with the audience: I know that the weather today is hot and you are exhausted from traveling.

? A short story related to the subject of the presentation.

? An interesting information

? an interesting question: : How much of you need a good solution for business management?

? Explain the problem and then begin to put alternatives to solutions.

B-Content:

Is the central part and most of the presentation, which aim to:

? Retain the attention of viewers.

? Help them to follow up the ideas raised.

? Directed towards findings the results.

characteristics of successful Content:

To achieve the goals:

? Is planning to build or structure of the subject the way in which to convince the audience.

? Divides the content to points (Headlines) primary and secondary clear and logical sequence.

? Be used to clarify the means of a simple and expressive.

? Use appropriate language structures to link the transition between the parts of the presentation.

Building structure of Content:

There are several methods for dividing the content of the presentation, including:

? The division of time: past, present and future.

? Factional division: finance, human resources, production.

? Comparative division: the old system, the proposed system.

? division of alternatives: the first alternative, the second alternative, the third alternative.

? Division of gradual (upward or downward:)one of the most important factor, followed by …

? Network division: individual, institution, society.

Wait for my next article Business Management and Presentation Skills part 2 about Management in Business.