Developing a business plan 2

Yesterday I was talk about Developing a business plan and I didn't finished it.So today I will continue talk about this.

Let's say some benefits of having a business plan:
It can make the entrepreneurs think carefully about their business so it's helps them make more changes to success.Also a good business may help the business attracts more investors therefore can make more finance. Also if you have a business plan you will have a good target ,that may encourage you to do better in your business.

But in the other hand to make a business plan also would have some problem:
Like if you make a over-focus plan or expect too high will make you feel less confidence .these may cause a business failed.

So I know to make a good business plan you must consider the real situation and the plan must fit the aims in your business. For a successful business a plan is very important.

Developing a business plan

Today I am going to study about "Developing a business plan".


The purpose and contents of business plans --- A business plan is a document setting out the business idea and showing how it is going to be financed , marketed and put into practice. For most of the entrepreneur,it is likely to be a crucial part of an attempt to raise finace from outside source such as bank.Whatever the heart of the business plan should be based around compitetive advantage.


The business plan should have :
1.Executive summary - the brife highlights of the report (like a plan to control that you make it before you do something)
2.Introduction of the product or the service
3.The market - need to know what dose the consumers want and the goal of your business also ways to increase sales...
4.Organisition -how to allocate the people work in your business
5.Financial- cashflow and forecast the bank balance also the cost ...
6.Conclution - the long term plan



PS:Tomorrow will continue on 'Developing business plan'

Revision by myself ---- I am trying to catch up

I thought few times about I need to do something and catch up with others and don't make others slow down so the only way is I need to work hard and go over what we have learned by myself.So today I will start to do something and also I will keep it in the future.
So today I am going to study the knowledge in the unit 1 ----" Planning and Financing a Business"
ENTERPRISE AND ENTREPRENEUR
Enterprise is an ability to handle uncertainty and deal effectively with change.

Entrepreneur is a person who starts and runs a business ,it has the responsibility for the risks involved ,also it should be able to manage the four factors of production which are labour capital land and entrepreneurship.
The characteristic of entrepreneur:
* Able to build relationships with other business people for example suppliers and consumers...
*They should know the consumers need and the action of competitors so it is the market understanding ability.
*And they can persuade their staffs ,suppliers to do things.-Power of persuasion.
*They need have the ability of initiative.
*Able to calculate the risk.
Also the entrepreneur is the risk taker.And also If they gain the finance the profit they earn will become a good reward but somebody to run a business not only want to get more money but also want some experience to overcome the challenge and want to some satisfaction.
Then to be an entrepreneur it's not a easy thing not everyone could this .It's need time ,money and knowleage.

A music website

Everything has two sides . For this idea which is create a website people could submit tunes or songs native to their country/culture that are unlikely to have been heard by people around the world .In my opinion it is not good enough .
So let's analyse the advantages :
* It's a idea about music so could help people who really enjoy music and want to listen the music all over the world.
*This will help people all over the world to know about other counties' culture then that will make the world closer and closer.
*And it is easy to use for everyone.So it's good for people who like music from different place to communication .
But it's also has a lot disadvantage :
*I think if you create this website you need to advertise a lot.If not i don't know how people can know that.
*And also this kind of website have too much competitor because music websites are very many already. And the native music also can be haven on the common website~
*And it in fact can't make people all over the world because we have different languages indifferent and not everyone can speak and write English.Especially old people .At this point can prove this idea is diffcult to try.
So it is not a really good idea.

The CDS of rental cars

Something postive:
Imagine I am a car driver and I am going to drive rental cars in a new place, which I have never been to .The first problem will be I don't know any place I need to spend time to be familiar with this new place .And the second problem will be I am not sure about the law of drive here and so on.Also I must to know about my own car.And the best thing for me it will be I can adapt the new place as quick as possible.So if I have a CD like that it will be fantastic~
so there are some strengths :
*very helpful for people who is not know very well about the place.May could make they drive easily.
*And it is a good advertising for local businesses.
*Also it is a characteristic for the place.So may be can promote tour of this place that can make the economy increase.
*And those CDs can make the rental cars companys make more profit.Because they have this USP(unique selling point)
And some weakness:
*may not have many people going to use it cause they can use GPS instead of.
*And can't be like always have new driver.
*Also if you are driving and you hearing this CD and you heard something really attract you ,you will focus on it that may make something Dangerous happened.

Types of budget

Businesses use budgets to plan for future activities and to set various goals and objectives within the company. They help the organization set specific expectations which aid in evaluating performance throughout the company. Budgeting helps organizations implement specific strategies to meet goals and objectives. It is important to note that a budget is an estimate and will often need to be adjusted over time.

In order to properly plan and set goals, several different budgets must be created. This article discusses some of the more common budgets used by businesses.

Sales Budget - The sales budget is an estimate of future sales, often broken down into both units and dollars. It is used to create company sales goals.

Production Budget - Product oriented companies create a production budget. It is an estimate of the number of units that must be manufactured in order to meet the sales goals. The production budget also estimates the various costs involved with manufacturing those units, such as labor, material, and other expenses.

Cash Flow Budget - The cash flow budget is a prediction of future cash receipts and expenditures for a particular time period. It usually covers a period in the short term future. The cash flow budget helps the business determine when income will be sufficient to cover expenses and when the company will need to seek outside financing.

Marketing Budget - The marketing budget is an estimate of the funds needed for promotion, advertising, and public relations in order to market the product or service.

Project Budget - The project budget is a prediction of the costs associated with a particular company project. These costs include labor, materials, and other related expenses. The project budget is often broken down into specific tasks, with task budgets assigned to each.

The benefits of having a budget

The most important reason for having a budget is because,

“A budget can help you achieve your dreams.”

Having a carefully planned budget and sticking to it is a tried and tested way of achieving dreams. Millions of people have done it.

Here are some common benefits of having a budget.

---You become aware of your income and spending habits.
you will learn where your money come from and where they go to.


---You take control of your finances.
you decide where and how you spend your money.
by planning ahead, you will not worry about whether you have enough money to last until your next paycheck.
you learn to control or cut out unnecessary expenses.


---Allows you to take advantage of opportunities.
by knowing your exact financial position, you can decide to take advantage of opportunities that you might otherwise miss. You will never wonder if you could afford something.


---You free up extra money.
If you plan your budget properly, you can do away with hidden fees, penalties and interests on late payments. This will result in extra money for you to use for other purpose.


---Communication tool.
A budget is a good tool to communicate financial information to your family and to resolve any personal differences which might arise. By involving your family in the budgeting process, everyone will get a chance to put forward their priorities, understand and compromise to come up with a budget.

Something must be done

After read this I feel so sorry about what I was done ..>_<..
Team work is very important for a business.Cooperation is a key point for a business.I know that.And by doing team work the manager can easily know who has the ability to be a natural leaders or born socialites also easily to know who is shy and who make the work slow down. So we can say that is as same as our classes.Each class is a team and people in class just like working together.And the teacher is like the manager who can identify students good or not.
I also know that if someone is doing nothing at all will make all the class slow down.To be a person there is no reason to affect other people .If you do that mean you are so bad . I have known that. And before I didn't notice that I already affect others.Now I am a bad student not just bad on my study also bad on my behaviour.I do a apology to everyone. A very strong voice in my heart says: siyi you can't do like that anymore If you continue do like that none will forgive you, you will be abandoned. I don't want to be that anymore really.I will be after what I have missed.I will have something be done soon.A big advancement.
Something must be done .Some real thing must be done . A lots of thing I haven't done and they are waiting for me . Come On Something must be done by me ! I am facing some challenge now ... The first thing is beat myself!I will treat my work seriously from now on.
There are something must be done.I will become better and better.I will prove I am nota hopeless person.

About The Generation Y

Today I was asked :" what Generation Y is ?" I couldn't answer it because I haven't even heart about it ,so now I am going to find out what it is .
About "The Generation Y"There is a podcast about it . http://podcast.ft.com/?section=management .I heard it althougt I 'm didn't understant all they say but I have got some idea about" Generation Y " : Generation Y is people who was born in the 1980s and early 1990s.And the Generation X is people who was born in in the 1960s and 1970s .5 things to consider when understanding Generation Y:

1.Walk the Talk. You only have one shot to gain their trust, if you fail they will write you off for good. If they suspect for a moment that you are trying to 'pull the wool over their eyes', so to speak, they will be gone in a nanosecond.
2.Gen Y are multi-channelers and can focus fully on many variables at once, rather than us single channelers. (Mac brings up an interesting example of how a Gen X'er or BB if lost while driving, would pull over, turn down the stereo and look at the map. What does the stereo volume have to do with looking at a map?! Single channelers..)
3.They care & are committed to saving the planet
4.Most live under the radar of establishment
5.There is a sense of immediacy as they are on a faster journey and their expectations of services or relationships are higher
And I know that Generation is different to motivate by something so I found someways to motivate them : 1.Give them cutting-edge technology.
Generation Y grew up with computers, ipods, and PlayStations and this techno upbringing shapes their work expectations. You can successfully motivate Yers by structuring their work so that it is congruent with their technical prowess. For example, allow them to communicate with customers via instant messaging, provide training on-demand in multi-media formats, and give them Internet access for research and resources.
2.Design rewards and incentives with immediate payout.
Yers (and Xers as well) are skeptical of long-term commitments from employers. Many younger workers have seen their parents lose jobs to downsizing and outsourcing and this has led to doubts about their own futures. For any reward to work with a Yer, it has to be very short term. So instead of a 12-month contest with a huge payout, consider a 60-day contest with a moderate payout.
3.Keep them in the loop.
Generation Y has grown accustomed to accessing information instantly through such leading edge technologies as Wi-fi, Ti-Vo, Google, and podcasts. They expect to be in the know and in the know immediately. Give them company information through digital channels and also deliver training in high-tech digital mediums.
4.Present information/goals into bit-size pieces.
Yers work most productively
When big tasks are broken down into small steps with goals that are realistic. They respond very well to training programs that allow them to pick and choose the subjects that they need most, especially when those subjects are presented in short, high-impact, media rich formats.
5.Give them frequent feedback.
Some experts assert that Yers are used to reinforcement at a rate that is 50-100 times greater than Boomers. A lot of Yers grew up spending hundreds of hours each year playing video games and these electronic games provided immediate, clear feedback on their performance. In the workplace Generation Y expects supervisors and managers to provide immediate clear feed back just like a video game.
6.Provide flexibility in their work.
Yers grew up in flexible times and as adolescents they had a lot of say over their world. They want say in everything from benefits to scheduling to the option of telecommuting. Generation Y expects work to accommodate their personal and family life.
7.Manage by getting involved.
Managing from behind a desk will be most ineffective with Yers. They want to see managers roll up their sleeves up and get in the trenches. One easy way to get involved is to do what Southwest Airlines does. Southwest requests managers to play baggage handler, reservation clerk, or ticket agent once a month. This keeps management in touch with the challenges their people experience everyday.