Business Action Group

Posts Tagged ‘Business Plan’

9 – The magic long ago, start as soon as possible:

Many know that I am quite young, but it is important to learn to start soon. Investing does not take long depending on the degree of investment and can be a great help as we study and work.

Even as a young man starting to save some money you can save interesting to begin investing, much better than starting late.

10 – Be humble and know your limits:

It’s easy to get bigger when the market is rising. But the true risk tolerance only know when you have experienced the ravages of a bear market. Decisive action can be useful at work, but when investing is better to be humble.

In closing I would like to add a rule or Tip number 11 which I think extremely valuable and that every investor should as your money grows. Read the rest of this entry »

Questions for the future. According to experts we have consulted, you have to ask questions like: What do I do, for example, if you change the protocol technology in my field when I mounted my company and I have a couple of years on the market, I have not yet entered in the black and I do not circulating to make an investment that will allow me to adapt to this new technology? In theory, if you’ve developed a good business plan, these experts agree, you should have a contingency teniedo account of this kind, and you should have calculated an emergency fund.

“Let your customers do not get paid … Do not put in your business plan you’re going to collect cash! Fixed percentage of defaulters. Keep this in mind before starting your business, “said Bieto.

Blaming others. “Threats” says Oscar Sanchez, consultant TechSales Group-defined as any environmental force which can prevent implantation of a strategy, or reduce their effectiveness, or increase the risk of it, or resources required to implementation, or reduce expected revenues or profitability. Read the rest of this entry »

Not everything in life is an investment and somewhere you can see how starting a venture investment. It all depends on how we face the business and the objectives we have in mind, be self-employed or owners thereof.

You learn a lot from them and I always say that one of my ventures was so productive that I feel I did a college career, but the best in the world.

For those entrepreneurs found the following web site is a introduction Entrepreneurs that a number of issues that I will put here on the forum. The links are kind of lights that tell us the various possibilities in mind when embarking.

Have you ever wondered what’s the worst that could happen to your business? And, most importantly, how did you get this question when you prepared your business plan? Well, you should have done. Launching a company always has risks, but there are some common threats that fly to all entrepreneurs. Read the rest of this entry »

* KEEP A GRANT TO THE FINAL

It is important that the other party is with a sense of victory, having done a good deal. For that to happen, you need to save some small concessions to the end of trading. His counterpart will come with the ego you satisfied and happy with their wallets. Speaking of ego, is always good to remember that the ego is one of the factors that hinder the negotiations. Always leave an honorable solution for your opponent to change his mind, without having to grovel.

Case: Look what I got for being cute

Well actually this is a case seen from the other side, from the person who inflated ego. Years ago I dated a girl who was buying the first thing that crossed him by sight. A happy day comes and shows me the strangest combination of things we got:

1 pen color (this is a pen with several inks), a comb reversible and that the seller “gave” a set of rubber bands for hair and some bracelets autoenganchables being cute girl. All this for the modest price of $ 10 or something.

This person was happy mainly because the seller “gave” something to be beautiful because she initially wanted to buy the pen and the comb (jajaj that strange combination to sell), but that kind of product we all know that gave him anything. The pen that’s got to $ 1 at any place the comb reverse also for about $ 2, gummies hair until nowadays consegís $ 1 and those bracelet (another of my business college) were purchased at $ 0.20 and sold them quiet $ 0.40 there.Everything went a total of about $ 5 in there … but be nice … I left $ 10

* ALWAYS HAVE AN ALTERNATIVE

Never negotiate without alternatives. When we have no choice, we are entirely in the hands of our opponent. If he manages to discover this certainly going to get upset the negotiations. See this example: in a small town, there is a trader who buys and sells used furniture. Read the rest of this entry »

* NOT ACCEPT THE FIRST OFFER

If you accept a first offer of his opponent, he always left with the feeling that was a bad deal, they could have gotten something better. Imagine this scene: you’re buying a used car. After careful consideration, decided to make an indecent proposal, 30% below actual market value, only to begin to negotiate. At this point, the car owner extends his hand and said smiling: I agree! Deal! What is your reaction? Is it really did a good business? This car should have no problems …

Well, I do not remember any particular case or known here.

* NEVER GIVE ANYTHING FOR FREE

All that is freely given has no value. Have your partner recovered everything that you yield. Do not give anything, trance all. For example, if you ask an additional discount price, a payment request more favorable. If asked for more time, get something in return. The most important word in the vocabulary of a negotiator is the word “if.” Everything that starts with “if” is conditional and involves compensation, if you do that, I can do that … Read the rest of this entry »

* JUSTIFY YOUR BID

Offer little or too much to ask not work if you do not know how to justify their position. Find ways to show the value of the solution you are proposing, differentiate their solution. Know the difference means to get higher values. See the example of French mineral water Perrier. By creating a tap, Perrier water gets to be the most sold in the world and one that gets the highest price. If someone manages to differentiate mineral water, certainly you have items to get to differentiate their position, do not you think?

Case: on t-shirts:

Just this sentence sums it up:

Me: Well, if you leave me 5 to $ 40 I’m taking them because I have no more money here and not enough for me to go home and come, and will be fully closed.

In a way it was communicating my need to have the shirts, I knew that this person’s situation and wanted to sell something happened to justify the fact that he lived far away and not come to look for silver to my house, to return.

* BE PATIENT

In general, we like to solve everything very quickly. With the stress of everyday life, our patience runs much shorter. The computers seem slow, a TV commercial is endless, a traffic light stuck forever, everything takes a long time. In a negotiation process then who gets to wait, usually get better results. Read the rest of this entry »

* PLAN

Never go into a negotiation without studying their lessons at home. There are many records that you need to find before starting negotiation. For example: How many options does your opponent? What pressures are suffering? Does your party a deadline to fix the problem? What is your budget?

When you plan, the tension and reduce stress. The scenario becomes more familiar and some new options emerge before their eyes. Thus, you will face more peaceful and secure any negotiation

Case: I will close the local

This case is just funny and I did it with a friend (more than anything to play.) He was such a fair selling everything, we saw some interesting T-shirts and the truth we wanted. This person tells me he wanted to buy 2 or 3 and tell him to wait, let’s try something. Read the rest of this entry »

The ability to negotiate well is essential for survival in the competitive business world. With globalization, downsizing, reengineering and other trends, all resources are highly contested and won that negotiates better.

The negotiation process can be distressing for those unfamiliar with the techniques, but it is extremely involving and exciting for well-trained negotiators. For you busy executive, here are 10 practical tips for negotiation.

* ATTEMPT TO NEGOTIATE

Successful negotiators know one thing well – everything can be negotiated! This means that you should not accept anything that is imposed, should question everything. On a practical level, this means trying to negotiate the value of a fine, the rate for a hotel or the price of a ticket. You can not negotiate if you are willing to verify the accuracy and soundness of the views of their opponents.

Being assertive means asking for what you want and do not take “NO” as an initial response. Start practicing a position where you can express your feelings without anxiety or anger. Ask people what you want in a friendly, nonthreatening. You will see that there is a difference between being assertive and aggressive. You are assertive when caring for their own interests and says what he thinks, with good manners.

* BECOME A GOOD LISTENER

Negotiators are like detectives and ask questions then remain silent. Most times, your opponent will tell you everything you need to know, if you remain silent. In reality, many conflicts could be resolved if the negotiators listen better. The big problem is that we were never trained to listen, but to talk. Read the rest of this entry »

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 »