Business Action Group

Author Archive

When one is in developing a business idea is daily acquiring and exhausting so most of times can make us lose sight of the targets that we must fix. People can spend their lives on that day to day and maybe we can never realize our dreams.

To avoid falling into it would be useful perhaps the following tips:

1. Goals set to Short, Medium and Long Term. Set goals and three levels, the short run can be within 1 month to six months or one years. The medium-term will be 1 years to 2 years and the long term it will be within 5 years to 10 years or older. In the case of long-term goals should be as ambitious as possible and that seem almost unattainable.

2. Make a Master Plan. Set goals at all three levels necessary to develop a master plan on how it can get to meet those goals. The master plan is your road map and the way forward must be absolutely clear in their short-term goals, not so much perhaps for the medium-term goals and sure to be somewhat uncertain in their long-term goals … but will have its Master Plan.

3. Check your Master Plan once a month. In a monthly review its Master Plan and see if it is fulfilled. This monthly review will be very quick so you do not miss out on a daily basis and remind you that you are doing business to get to meet those goals it has set.

4. Restate your Master Plan every six months. Every six months in-depth review its Master Plan and see how to improve it or change it. The review never reduce its long-term expectations … never stop dreaming and always think big.

The business plan is an important tool before you want to start any business idea.

The other day a reader sent me an email with a query which I think clearly detail but generally ignore my advice on a particular business idea I had about a candy business.

From your question it was clear both that the investment he wanted to do was imminent, but it also had not conducted any business plan.

Not having a business plan had not been able to sort your ideas and apparently had escaped critical issues and factors regarding your new business.

The most important is that he had done an analysis as to what was the best opportunity to launch its candy business. The country you live in our dear reader is in the Southern Hemisphere and is therefore by early spring, the heat is going to increase and obviously was not the best time to launch a business of candy.

The business of candy for their high caloric content is a seasonal business whose sales are down in the warmer months. To our dear reader that had eluded him in his enthusiasm crucial to realize their business idea.

When you make a business plan, it allows you to put in black and white and think about every aspect surrounding a new business idea to make a more careful analysis of the profitability of the idea and all the factors that can make failure to correct or prevent them.

Read the rest of this entry »

Make no mistake in your marketing plan, to distinguish who uses the product and who buys the product. There are a number of elements and techniques you should learn if you want to carry on any business idea.

It is as if you were a fan of the paintings and had all the passion and desire to paint a picture, that passion is of no use if not before learning some techniques for painting and what brush to use, how to combine colors, what I can paint surfaces just to name a few.

Exactly the same goes with business. Many people fail because they have a great idea and think that is enough since heard somewhere that passion is everything.

The truth is that you must also learn some techniques for doing business minimum. It is very important that you buy some books on business or attending free business courses or try to investigate on the Internet. Learning these techniques you will avoid making mistakes that can cost thousands of dollars.

Read the rest of this entry »

Acquiring a franchise is to obtain a license or right to operate a certain business, including its processes, logos, designs and brand involved.

Advantages:
* Starts a business that has already proved successful, and has a recognized brand.
* It has a manual with guidelines and procedures for creating and managing the business.
* Shall have training and technical assistance from the franchiser.
* Does not require much expertise in certain business issues.
* Saving time and money in designing a new business, and promote it.

Disadvantages:
* High acquisition cost.
* Constantly having to pay royalties.
* Limited to implement new ideas.
* The possibility of business reputation may be affected by the reputation of other businesses under the same franchise.
* The need to undergo permanent and constant control of the franchiser.