Senior Business Advisor

Business Classification by Activity

A company can be compared with a person. Always when we meet someone besides of trying to know more about him or her, we always fall in the question. What does he/she do? What is her/his activity? This same question can be applied to a company. Businesses can be classified according to the activity it carries out. ... Read more

Franchises - Definition, Advantages and disadvantages

A franchise is a commercial system or business scheme in which both the franchisee and the franchisor have a legal agreement where the franchisee manages the business according to terms specified by the franchisor.... Read more

What is market segmentation?

Market Segmentation Definition:It is the process of dividing the whole market of a good or service in groups of people with similar needs. By making this division there is a high chance that each group responds in favor to a specific market strategy. ... Read more

The company mission statement: Implementation part 2

When it comes to the company mission statement we must ask us this question: How can we say in a few words something that important? There are many elements to consider when defining what a business is about. Let's mention some of these elements.... Read more

The company mission statement - Part one

Achieving the company purpose as well as maintaining in the advance-guard with technological advances is not an easy task, sometimes we get lost on the way, there are a lot of factors to keep in mind, so is strongly recommended to clarify and identify the company Mission statement, since this will allow to draw their way and to achieve their goals.... Read more

Permanence and technology in business

Now let�s see some cases where enterprises could not go hand to hand with technological advances, or they have not been aware of the changes that consumers demand.Within the first group, the typewriter, fax and postal mail are evidence of how the constant development of computing industry and the internet have ended with them.... Read more

"What small is, beatiful is" - losing the business purpose

Many companies lose their purpose of business when they are after some improvements, meanwhile others, keep their business purposes intact. This varies from a company to a company depending how they define their �business statement of purpose�. That statement must be defined in the business plan, and clarified to avoid any issue.... Read more

Enterprise Definition - General Terms

Definition of Enterprise The Terms Company, organization, firm, and business are all synonyms for the word �enterprise�.Furthermore, this is explained as the action of venture. Dictionaries define enterprise, business or company as the action of performing a project. No matter the meaning or linguistics acceptance, the truth is that a business is the beauty salon, the chocolate factory firing that savor which gives an appetite, the bar that we visit at weekends, even our school where we studied. All those, no matter the size, location, and activity, are enterprises.... Read more

Financial Information

Content This section identifies the financial needs of your business and shows the potential profits, therefore, is one of the most important. A business can grow and survive only if generates profits. During the preparation stage of the business plan, we must know how much money is needed and the expected profits. For this, the financial information that the business plan has, must include four documents:... Read more

Implementation and risks

When will start the major activities of the business plan, and who will be the responsible to carry them out? When will they finish these activities?... Read more

Protection and regulations

Copyright protection In case of any patent, branding, license or any other kind of protection is protecting the processes, products or services, describe them briefly.... Read more

Management and staff

The structure of the company Make a description of your company. How many personnel do you have, and how much would you like to have for the next years?... Read more

Marketing Strategy

Target Market In the last post Description of the sector, we described our marketing activity. Which clients or market segments your company will point for? For example, we may define an objective market by client type and geographic region. How your markets may change during your business planning period?... Read more

Description of the sector

Market studies It’s important to have a good understanding of the sector where the business will operate. At this point, it will be useful to explain if you have researched the market of your niche. For example, if we have made any poll among our potential customers, if we had access to other data sources like articles, newspaper and other statistical information, whether we have spoken to people about the activity of the sector or other reliable source.... Read more

Products and Services

Description of products and services Describe the products and/or services your company sells or will sell.... Read more

Description of the business

History of the company... Read more

The executive summary

This is the section of the business plan, that must be written at the end of the process, it must be placed at very beginning of the document; in other words, before the business plan description and immediately after the front. Because this is the summary no longer than 2 pages, it has the purpose to attract the attention of the reader, through a descriptive synthesis, in which we highlight what is considered important to achieve this objective.... Read more

Guidelines to organize a good business plan

Defining objectives: Make a list of the people who you may want to show the plan and the effect you want to produce on them. The objectives might help you to decide how much emphasis the business plan should need to address the different aspects of the business.... Read more

Introduction to business planning

Incorporating a new business into the market as well as a new product, require a decent amount of capital investment to allow the correct functioning of the business. No matter the reason, an improvement always will require more investment as well as workforce.... Read more

Setting the market research

Many entrepreneurs with brilliant business ideas will fail because they do not analyze enough deep the market demand for their ideas. Start a business without previous analysis is like shooting in the darkness. Therefore, the next step will be the market definition for your product. For this, we need to ask questions, starting with wide context and later working to more specific aspects of the market.... Read more

Writing a business plan step by step

Previously, we have analyzed, which are the basic points of a business plan. We will continue showing step by step how to write a business plan. It�s important to define at what moment we are defining, our business plan, since for every new business, we need a plan but for those are running too.... Read more

Leadership styles

Each leader has its own style and each style is categorized, according to Boldmal and Deal on 1991 leaders express their leadership through four different styles. However, their definition may differ from other authors were categorized leadership style in other different ways.... Read more

Failures in Business

Having a failure is one of the worst faiths in business, also is the biggest impediment for thousands of people to keep up with their business because the sense of defeat they felt. To show you the meaning of business failures, I want to tell you a story that forms part of many of the business failure stories existing around.... Read more

Writing business ideas

Leading a business idea into paper could be the most stressing and boring task, however it should be done every time an idea comes into mind. So, how can we write a new business idea onto paper?... Read more

How to start a restaurant

Looking at my server log, I found a lot of requests of how to start a restaurant and just because I had one once I want to share my experience and expertise about restaurants.... Read more

The story of a bad business leader

Along a month I�ve been helping a friend of mine on his job, so the person who hired him sent me a contract as an associate employee so I may work just for a little period. My friend was promoted as a leader and I am part of his team, it may sound funny to you but actually we are only two workers in the team. At some point the company where we are providing our services asked us for just one person to work on Sunday. Usually the company labor days go from Monday to Saturday and Sunday is the day off for all employees.... Read more

A great business idea

Talking to a friend we realized our lives were around working for others, still having a well paid job yet we miss having free time for other activities. My friend is an average young man who works in an electronic manufacture enterprise as a Quality Engineer earning between $40 to $60 dollars per hour which is a good salary.... Read more

Supporting women leaders in business

Why we should ask for support? It�s sad the fact that we need to support leadership for women when women themselves are natural born leaders. Even these days where women shine on businesses, still people treat them so demeaning that makes me sick. Many companies are not supporting women leaders in business, because the idea that man has for many years: women came to the world to give company to men and they�re servants of men; I have a word for those that believe that: bullshit!... Read more

How to speak in public

A leader should know how to speak in public because it is part of the nature of a leader otherwise any attempt to guide your business team will be a failure. Speaking in front of a large audience could be very traumatic specially if is the first time you do it. Here some good tips to learn how to speak in public.... Read more

How to recruit employees for your business

A recruitment campaign for your business can be a hard challenge, sometimes is quite hard to choose the correct candidate for a job position and many times human resource management processes are complicated if you don’t have experience, so here some tips of how to recruit employees for job positions in your business.... Read more