Actual for You - Business

Five Secrets to Creating the Ultimate Mastermind Group
Are you familiar with the phrase -- Mastermind Group?It’s the name first popularized by Napoleon Hill in his 1937 classic book “Think and Grow Rich” and has since taken on new meaning with countess adaptations.You likely refer to your group by a different name:* Small business round-table* Leads Group* CEO Focus* Entrepreneur Club* Executive Support Group* Business Exchange* Small Business AdvisoryThe name you give your small business support group is not important….What’s important is the enormous benefit you should be receiving – And, your benefit should go far beyond mere peer support, affiliation and encouragement.Your benefit -- if fully realized -- should reach the level of business transformation!In other words, your small business support group, if run correctly, has the potential of helping you transform your business into a highly organized, innovative, productive and profitable market leader.Do you think that’s possible?Do you think your small business Mastermind group can have that kind of a profound impact on your success?Well, I believe it is possible – And it’s easier than you think.All you need are the following five powerful ingredients:1. A Desire to Win Big!The first ingredient is that every member of your group must share a burning desire to Win Big -- and, I mean win Really BIG!All it takes is one member without a strong “Win Big” attitude to deflate your group’s effectiveness. If you have more than one member who is not committed to growing his or her success, it is unlikely that your group will be able to generate the kind of energy and creativity you need to multiply your be

demand that remains available to you.

Now, based on the limitations of your operations plans, calculate how much of this remaining available demand you can achieve. This is a very simple calculation. Start with your overall productive unit capacity and factor it by the expected yield of sellable product, then multiply these unit sales by their respective selling prices and voila, you have the revenue numbers for your business plan financial projections.

Let’s take an example.

Chairman Greenspan and the FED, learn more you will be glad you did
So many people work their whole life to make money, but they know so little about out monetary system. They know so little about the Federal Reserve Bank and so very little about the brilliant minds, which make it all work. To get a better insight to the behind the scenes strategic planning and the intense thought which goes into making it all work I recommend you read a few books on the subject. Let’s start on an easy one for your on-going education as an Entrepreneur; I recommend you first read:“Quotations of Chairman Greenspan-Words from the man who can shake the world.” By Larry Kahaner.This was a great book, which studies Greenspan’s early days in the private sector and his many quotes throughout his career. The book is broken into sections and can be read comfortably in one night. If you read this book you will laugh at the big words used to describe nothing and the way he answers questions with riddles, which intertwines history, politics and modern day fluctuations in markets. He often describes situations with which such disdain for politics and rhetoric with what on the surface appears to be more of the same, yet his carefully and large inventory of words appears to have a symbolic meaning and often answers more than just the question.His comments often go unchallenged because you have to carefully review all the statements and piece it together to understand what he said and by that time it is too late to ask the next question. He appears to be doing an excellent job and having a lot of fun screwing with peoples heads who are of less intelligence. His thoughts on recessions, gold, education, transportation, communication, derivative trading, S & Ls, silver, gold, employment, Housing, small business,

Business plan financial projections seem daunting because they are so uncertain. This very uncertainty, however, is what makes preparing them easy because you can’t possibly be right. You can’t predict the future. None of us can. All you can be is competent in the way you prepare your business plan projections.

Before you finalize your business plan this year, consider these six caveats to preparing your business plan financial projections:

1. Don’t offer pull-out-of-the-air, “conservative” guesstimates about getting some percentage of the overall market demand or year-over-year growth.

It is a mistake to assume that business investors will appreciate your being conservative with your business plan financial projections in the early years of your business. Don’t think for a Wall Street minute that presenting “conservative” business plan financial projections indicates “realism” to prospective business investors. Business investors invest for one reason: to earn a return on their money. How long the money is invested influences the amount of the return earned. Let’s say a business investor wants to triple an investment. Well, if that investment triples in 3 years, the return is 44%. If it triples in five years, the return is 25%. Adding just two years to the investment period nearly halves the return! Now do you see why time is so important to a business investor? Here are a few other examples: let’s say a business investor wants to:

Make 5 times an investment in 3 years = 71% return
Make 5 times an investment in 5 years = 38% return
Make 7 times an investment in 3 years = 91% return
Make 7 times an investment in 5 years = 48% return
Make 10 times an investment in 3 years = 115% return
Make 10 times an investment in 5 years = 59% return

So, while you may find it attractive to figure out how to make “just a living” until the business venture proves itself, you now understand why business investors want sales and earnings to grow absolutely as fast as possible, without being deceived, in your business plan financial projections. On the whole, business investors are risk averse only to the extent that they don’t want to lose their money or tie it up in a low return investment. Typically when you make the claim that your business plan financial projections are “conservative”, it usually just means that you have no idea how and why you’ll achieve a certain level of sales within a certain time frame. Interesting, these kinds of estimates, provided that you’ve done some good thinking about market segments and overall demand, often turn out to be too low. Remember, it’s just as bad to underestimate your sales, as it is to overestimate them.

2. Avoid calculating costs as a straight percentage of revenues.

Sure it’s easier to do things this way, especially with Excel and other business plan financial projection software. Costs are real, however. You need to know what they are very specifically. If you’ve done your homework in developing your business plan, then you should already have this information, or at least the basis of it. Just estimate and calculate your costs on a product-by-product basis.

With these warnings in mind, use the following steps to develop your business plan financial projections:

Think about what percentage of the overall market share your competitors already own. Assume that they will continue their present trends in growth. (Note: some competitors may already be trending down and losing market share.) Temper your market share estimates with some discussion of how your entry into the market will affect these trends. Then, estimate the percent of total, potential demand that remains available to you.

Let’s take an example.

How the Use of Steel Containers is Impacting on the Freight Shipping Industry
The use of steel containers by the freight shipping industry is having a significant affect on transportation costs and practices.Steel containers are fast becoming the preferred option for shipments of cargo around the world. As they can be stacked easily they have helped to reduce freight shipping costs. Furthermore the products that they contain are more secure because they are sealed prior to being shipped and are only opened once they have arrived at their destination.These containers are being used to ship a variety of different goods across the globe. From food products to personal care items and machinery, the freight shipping industry is increasingly using steel containers to transport freight.The ability to move large volumes of freight easily and cheaply is vitally important for countries like South Africa that are experiencing huge growth in freight traffic. Indeed, in the case of South Africa, traffic has exceeded the 20 year growth forecasts 14 years early!The use of steel containers by freight shippers grew by a staggering 54% in South Africa between 1998 and 2005. It is estimated that the use of steel containers for freight shipping will continue to increase by around 15% each year between 2010 and 2015 in South Africa.The reliance on steel containers by other freight shipping nations is also set to increase. Analysts predict that the global use of steel containers will increase by 6% year on year between 2015 and 2015.The reason for the heavy reliance on steel containers for freight transport seems to be attributable to a number of factors. For instance the use of steel containers makes the shipment of products cheaper and easier. Whilst the emergence of the European Union as an

ess investors. Business investors invest for one reason: to earn a return on their money. How long the money is invested influences the amount of the return earned. Let’s say a business investor wants to triple an investment. Well, if that investment triples in 3 years, the return is 44%. If it triples in five years, the return is 25%. Adding just two years to the investment period nearly halves the return! Now do you see why time is so important to a business investor? Here are a few other examples: let’s say a business investor wants to:

2. Avoid calculating costs as a straight percentage of revenues.

With these warnings in mind, use the following steps to develop your business plan financial projections:

Let’s take an example.

For The Best Protection For Your Laptop And More You Should Consider An Aluminum Briefcase
You trust your briefcase to hold your working life. Yet it gets banged, jostled, knocked around, even wet, especially in the crowded city. When you finally make it to the office, or return home, there is always an anxious moment, opening the lid and waiting for the results inside. Did your precious cargo survive?The time has come for you to stop worrying about your old leather briefcase. The next generation in office equipment is here: the aluminum briefcase. This isn't your grandfather's soft, pliable briefcase; the new aluminum briefcase is rock solid and protects your important personal items, worry free. This briefcase is very much the same a traditional model; accept it has more stability, versatility, and durability, not to mention a mod look that is totally hip.Buying an aluminum briefcase is more than just buying something to hold your papers in. An aluminum briefcase is your mobile office while you travel between your home and office. There are a wide variety of briefcases available depending on your style and pricing preferences. The Internet is a great source of information for doing research on aluminum briefcases or even for purchasing your first aluminum briefcases.The new aluminum briefcase is specifically designed for stability and versatility. With hundreds of possibilities, this case isn't just for paperwork anymore. Most aluminum briefcase selections come in two styles, the traditional layout (which is very close in size to a standard case) with pockets and penholders, and a second style that features foam padding.The traditional style is just the thing to organize your busy schedule, with multiple pockets for papers, notebooks, files and more. The foam padded style allows you to care deli

ure out how to make “just a living” until the business venture proves itself, you now understand why business investors want sales and earnings to grow absolutely as fast as possible, without being deceived, in your business plan financial projections. On the whole, business investors are risk averse only to the extent that they don’t want to lose their money or tie it up in a low return investment. Typically when you make the claim that your business plan financial projections are “conservative”, it usually just means that you have no idea how and why you’ll achieve a certain level of sales within a certain time frame. Interesting, these kinds of estimates, provided that you’ve done some good thinking about market segments and overall demand, often turn out to be too low. Remember, it’s just as bad to underestimate your sales, as it is to overestimate them.

2. Avoid calculating costs as a straight percentage of revenues.

With these warnings in mind, use the following steps to develop your business plan financial projections:

Let’s take an example.

Are You Pushy?
Are you a pushy? Ask yourself that question. The other day I was talking to a very good friend of mine and she said she could not do what I do because she is not pushy. At first I was a little offended, but then I asked her more questions to find out what she met. She said that she couldn't talk to people like I do or go up to strangers and talk to them. I asked her, if she was me how she would get business? She said that she would hope that customers would just find her website. This got me to thinking about how I market my business. Do you sit and wait for the business to come to you?Sometimes the biggest fear we have is what other people think of us. Do you ask your self, will they think I am pushy? What will they think of me? Will they say no? What will I do if they say no? What if? What if? What if? Are these questions holding you back? Are you afraid that you may appear pushy by offering someone the opportunity of knowing what you do, or offering them the opportunity to purchase what you have? Do you wonder what that person is going to think of you, before you even offer them what you have? Is the fear of what this stranger thinks of you so important that you that you say nothing. If you do nothing what do you get? NOTHING! Are you hoping that the right customers will come your way, or are you like me a "pushy person".Lets examine this a different way. Suppose you want to catch a hummingbird. You have a beautiful garden full of flowers and even a hummingbird feeder. You have set a goal to catch a hummingbird. You sit in your beautiful garden and wait. No hummingbirds are coming to your garden. Are you doing something wrong? You have a garden full of flowerers just for them. Where are all the hummi

revenues.

With these warnings in mind, use the following steps to develop your business plan financial projections:

Let’s take an example.

How Do You Protect Your Business in an Expanding Market
If you have a business in an expanding market like many of the cities in Southern California, or Phoenix, or Dallas -- a major concern has to be protecting your business as new competitors arrive. This can be especially frustrating if you’ve been there awhile. Maybe going all the way back to when it was just you and one or two other competitors.Too frequently business owners unknowingly change their focus. They see a new guy come to town and they immediately think about how they can keep him from becoming successful. While a second location may have been on their mind, now that they see a competitor opening up, they panic and rush to get an expansion going. Many times this leads to selecting a poor location or moving ahead with less than sufficient resources (capital and people.)The owner may have a fine, growing business with profitable sales handled by skilled, well-trained employees. But fear sets in. He or she worries that this new operator may take all their business, their employees and leave them right were they were when they first started out.While it is definitely possible that number one in town may have gotten a little complacent, a bit out of touch with his customers, or maybe even overly cautious in taking on new products or other revenue generators and as a result -- the fear is justified. In that case the heir to the throne provide a much needed wake-up call.Assume for the moment that is not the situation. The older, established business owner has been doing all the right things. He has been working his business plan. That’s right the continually updated plan he began with, which he has routinely changed to reflect what he learned from his visits to the trade shows and his association’s meeti

demand that remains available to you.

Let’s take an example.

Your research indicates that 2 out of every 10 females age 23 to 55 will under go some type of non-invasive cosmetic treatment in your area. Your research also shows that this number is expected to grow 20% each year over the next 5 years. There are 40,000 females in your target market. You identified four competitors in your target market. These four competitors currently handle on average 6 procedures a day. You plan to start a non-invasive cosmetic treatment center that uses the most advanced technology and is thus capable of performing an average of 7 procedures a day. Using this data you calculate the following statistics about your market and market potential:

Total market 40,000 females x 20% = 8,000 procedures per year
4 competitors x 6 procedures x 250 days = 6,000 procedures per year
Available procedures: 8,000 less 6,000 = 2,000 per year

Your productive capacity: 7 procedures a day x 250 days = 1,750 or 21.875% of the total market. The average selling price for a procedure is $400. Thus, the revenue for the first year in your business plan financial projection would be 1,750 procedures times $400 or $700,000.

Now, let’s say you’re were projecting 2,200 procedures per year. This would mean that you would have to alter your operating plan to be able to perform 2,200 procedures. You would also have to demonstrate how you would capture an additional 200 procedures from your competitors. Granted this is an over simplified example, but it should give you a feel for how this process works.

Regarding price, in most cases you should have a clear idea of how to price your product or service. There are usually other, similar products or services out on the market. Unless your competitive advantage is a cost reduction and/or unless price is a critical basis of competition, just estimate the value of your improvement and add it on to the average price currently offered in the marketplace. In order to make this estimate, you’ll have to be talking to potential users. Find out what they pay now. Find out how they feel about the current price. Ask them if they’d be willing to pay more and how much more. If you ask enough people, you’ll get a general idea.

3. Never determine price on the basis of a margin you think is attractive.

The market will pay you only for the value you deliver, which is determined by the consumer paying the final price. It’s easy to make the mistake of thinking that a 20%, 40% or even a 60% margin is great. Never considering that if the product or service you’re offering provides a real advantage. If you do this, you may be grossly underestimating the price you can get in the marketplace and underestimating your business plan financial projections. Consumers don’t think in terms of margins. They could care less about what you ought, “reasonably”, to get for your product. That’s why you must find out the most that they’ll pay. This is the value of your product or service. Come up with some reasonable basis for determining this real value. Keep in mind the obvious: If the consumer’s value on the final product or service is less than your cost plus a reasonable profit to keep your business growing, you’re in trouble. Your business model will not be sustainable and your business plan financial projections useless.

Now calculate the costs of manufacturing and distributing your product. These costs flow directly from your revenues estimates and operations plan. How much will it cost to purchase what equipment and materials, hire what personnel, engage in what selling efforts, pay what accountants and lawyers, rent what kind of space and so forth, to achieve the revenues you're showing in your business plan financial projections. You must be very specific. Project your costs over time. Keep them tied to the units you need to sell to achieve the revenues in your business plan financial projections.

Obviously, costs and revenues work hand in hand.

4. Keep your fixed cost low.

Keep in mind that none of these revenues and the cost estimates are going to be perfectly accurate, which means the amount o

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What do 90% of European Employers use successfully in the hiring process that only 10% of North American Employers use? It's been around since Ancient Egypt and still giving amazing results today.

Most mobile oil change companies only have a few units in fact the average is said to be 2.2 and generally these units are either box trucks or panel vans. The typical mobile oil change business will change the oil in either 5.5 personal cars or 15 fleet vehicles per day.

Bottled Water Companies are well advised to participate in large events and promote a strong public relations campaign. Do you run the marketing department for a bottled water company? Have you see the recent backlash from environmentalists about filling up the dumps and landfills with plastic bottles?

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