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Business Letter

Have You Got a Talent Agency Business Plan?

Are you trying to put together a talent agency business plan? Have you got a basic clue of what you hope to accomplish? There are many things to research and undertake when you set out to try to set up such a business, and often, a hopeful person might not have much of a hint as to where to start in this type of venture. After all, it isn’t like it was some simple something that anyone could just pop on into the city public library to find much information on. What a person really needs in a case like this is some kind of mentor or something, who could show them the ropes in this sort of business and its planning in the beginning stages.
For any kind of talent agency business plan worth the effort to go through to come to fruition, you really need the benefit of some years of experience running such a business before you even go ahead and start planning it all out – but how can this be done when you’re only beginning? This is just the perfect situation to call for someone who has been in this type of business for many years to come and show you all that needs to be done in order to get up enough momentum to really see your talent agency get up off the ground and fly.
Many who have spend much of their lives in this realm of the entertainment industry, now retired, have actually turned their talents to doing just that – supplying a bit of mentoring and tutoring to those of us just starting out, guiding us along the path. Even when you’re just trying to iron out a good talent agency business plan to start out with, these are the people to turn to for help.…

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Business Insider

Business Plan Example – Here Are Some Components For You

Anyone in or about to start a businesses needs a business plan. They ensure you have thought about the venture carefully and it maximizes your chances of success. There are a lot of things that need to go into writing of your business plan, but if you keep it simple to the main three departments of a business you can write an effective plan.
Do you know what departments every business needs? Companies, small business, global brands, partnerships, joint ventures and even one man band sole traders all have the three same basic departments. They are marketing operations and finance.
If you think of these there departments consistently, it will help you work out the questions you have which need to be answered to form a business plan. Here are some questions which you need to answer and put into your plan. It is not an exhaustive list, but it will have you get writing.
*What business are you in
*What is the market like?
*Is it increasing or contracting
*How will you stand out from the crowd and differentiate your business
*Are you starting form scratch?
*Will you buy a business?
*Will you buy a franchise?
*Will you work from home?
*Will you rent premises?
*Do you need staff?
*Do you need special licenses?
*Do you need professional memberships?
*Do you need to arrange plant, equipment or leases?
*How will you service clients?
*How will you purchase stock or products?
*How will you fund the business?
*Will you require finance?
*How long will it take to make a profit?
*What is the budget?
*What is the cash flow?
*Do you require investors?
*How will you meet you statutory obligations and meet or comply with government regulations?
*How will you grow the business?
*How will you create goodwill in the business?
*How will you plan for business succession or retirement?
*Can you eventually sell or franchise your business?
Some if these questions may not apply and it certainly is not exhaustive. It is just an example or a template of some of the popular and simple questions that need to be asked when thinking about a potential business opportunity. Remember the more detail you have here in the planning stage, the easier it will be to operate your business. Additionally it will also highlight to you if the possible opportunity is truly a viable business or not. In this way your plan can be like a crystal ball helping you see if it is a worthwhile venture or not.
It is vital to remember that not all business ideas can and will be successful as operating businesses. You may have a brilliant idea, but if people dont really want the product and there is no market for it, the business will not ever succeed.…

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Business Line

An Engineering Business Plan is More Important in a Recession

Is your engineering firm meeting its goals in this recession? Do you have more business or less? When do you expect the economy to recover? If your company is like many other engineering companies, you were caught off guard at the beginning of the recession. Are you sure that the current and expected market changes are reflected in your business plan? These are all questions that need to be answered in your business plan; your company’s business road map.

Without a doubt most business owners know that they need to have an up-to-date business plan. All that is required of any business owner to keep the plan current is the time to review, analyze, and update the plan, which can be difficult. So if you have not already, now is the time to review your plan and periodically make modifications.

In a prolong recession a proficiently ran business is more important than ever. Professional engineers are extremely knowledgeable about their career, but are rarely the experts in operating their company’s. An engineer will have spent 8 to 10 years in college and post graduate training before being licensed as a Professional Engineer without ever taken one class in business.

When the projection of incoming revenues slow or stop coming in the door your first reaction is to find more clients from the same source and second to cut costs by downsizing. This may not be the right business steps to take. Usually the better action is to re-examine each of your markets and clients in those markets, and to determine if those markets change in direction is temporary or long term, and then to careful review your company’s services and products. Operating any business should be a constant review of the process of that business, and whether it is operating at its best. Mistakes in the operation of the business during the good times are easy to compensate, but during the not so good times the same mistakes can close the business. A careful review may also show that your company is relying on one market to heavily and may need to diversify into other markets.

The kitchen table sketch may have been the beginnings of an engineering business plan, but as the company continues to operate and grow, the business plan needs to be formalized and updated periodically. The engineering business plan is nothing more than an outline, summarizing how the company will operate to be a successful business. Within the plan there are estimates based on industry research and personal experience which determines how much the company can expect to profit. This is established by quantifying the amount of services and products to be sold minus the expenses. It is one of the business owner’s primary responsibilities to work on the business through the process of reviewing and updating the business plan.

A detailed description of the engineering firm’s direction and purpose is found in the business plan. Without a plan the company can and often will wonder aimlessly, and may eventually fail. A slowing economy can be very damaging to poorly structured companies whether they are large or small. These companies are usually not in a position to handle the changing market conditions, and end up closing their doors. The stronger companies are usually better managed with an operations plan in place to handle the ups and downs of the economy or the changing target market conditions. Companies following good business plans whether small or large tend to survive a recession, and are set to expand during the economy’s recovery period.

There are many resources on the subject of writing a business plan, including websites, computer software and books. Unfortunately most of these sources address the generic business such as retail or service businesses. Engineering is unlike any other professional service business or any type of business.

A very good resource is the United States Small Business Administration website . According to the website, the minimal requirements for a business plan are as follows:

Description of the business: What is the structure of the business, and what are the services and products it provides?

Marketing: What are the potential clients and how will the business communicate with them?

Finances: What are the expected revenues sources and what are the expenses? Also what are the potential profits and losses?

Management: Who are the key personnel and who is responsible for the various functions of the company?

The best way to get through the recession is to have a plan. Now is the time to review your business plan, and, if necessary, revise some or all of the sections. Write out the strategies that will improve all four areas of your business. Next implement those strategies, and monitor their daily, weekly, monthly, and quarterly results. If the results are …

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Business Line

Be Clear on Your “Who” and Your “Why”

Has anyone ever insulted you or your business? It’s happened to me. In fact it occurred very recently at an after-hours business networking event. I was actually told I was stupid and selfish. At first it hurt, like a knife going through my chest. I’ve been a business professional for a long time but I’ve never been referred to as either stupid or selfish.
It started with an introduction, a handshake and then a description of what I do. “What? You help women go from employee to entrepreneur and teach them how to grow a business and market themselves so they can create a financially successful business that will replace their current job? Well that’s stupid and selfish, that business plan is never going to work and you’re only serving a small segment of ‘s what I think you should do instead (blah blah blah)” This person told me that my business plan wasn’t going to make me money and that I had too small of an audience I was desiring to work with. I lost interest in what this person was telling me after that. But I’m a nice person so I didn’t jump down this person’s throat. Instead I took a different approach.
What this person unknowingly did was gave me a great gift. They helped me get further in touch with my “why” and my “who.” You see I’m not meant to solve problems for every person I speak to and neither are you and the sooner you realize it the more focused you’ll be in your marketing and business efforts. I’m strategic about my long term plans and why I want to help others and the truth is that insults will not break my drive.
Now I know that you are in a similar situation. People may look at you funny when you tell them what you do or because you want to start a business and leave your current job. They may laugh at you when you tell them you’re going to make a significant amount of money in your new business. Or worse yet they will tell you that you will fail. Others have said it’s not viable or possible to make your plan/product or business work. But it’s YOUR job, your duty, your purpose to prove them wrong. Just as it’s my purpose to do the same.
You see I know that there are people working their corporate jobs who want more for themselves. Individuals who are miserable, sick and can’t stand getting up and going to work to grab a pay check that means nothing other than paying the bills and putting food on the table. I know that they are secretly looking for ways to start their own business and take their passion and make a living doing what they love. I know this because I’ve been there and I know how awful it feels to not love what you’re doing. So when this person told me that I was stupid and selfish all I could think was that it’s one of the times in my life I’ve been furthest from it.
People talk a lot about the necessity of having the right mindset to be in business. Successful business owners are interviewed and asked what they did and what do they recommend. They’re also asked about how they fuel their drive and passion. That I believe is with a very purposeful and success focused mindset and it’s something that every one of us can choose to have or not have.
When the person I was talking to finally finished offering their opinion about my business plan and niche I thanked them and told them that I appreciated their opinion, but I’m on a mission to prove them wrong. I explained that I have a plan, a purpose and a “who” that I want to help. That what fuels my drive is helping women take one step closer to making their business dreams a reality.
Brace yourself because if it hasn’t happened yet there may be a time that someone will question what you’re doing with your business and they may tell you to take another approach or try a different business plan. Here’s what I recommend:
1. Be clear about your “why.” Take time to write out “why” you are doing what you’re doing. How did you decide to start your business?
2. Be clear about your “who.” Who is it that you should be talking to? Who needs to hear what problem you know you can solve? Write out who is the person you are meant to work with or offer your service/product to and connect “why” you can support them.
3. Create your elevator speech. This is when you connect who you are, who you work with …

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Business Line

Potential Internet Business Ideas For You If You Are Entrepreneurial

Do you think you could be an entrepreneur? If you think you are the type of person that should be in business for yourself you should take a look at potential online business ideas.
Starting an Internet business is something anyone can do, but people who have an entrepreneurial spirit have a better chance of succeeding in the competitive world of online businesses.
In this article let’s take a look at 3 potential Internet business ideas you could start with.
1. Blogging. This is a quick way to start your business. Initially when you start out you may want to create your blog around a theme that you have an interest in or specific knowledge on.
An important point to keep in mind is hosting your own blog. Don’t use the free blogging platforms as your blog could be canceled at any time.
Use WordPress to build your blog. They have many excellent free themes you can start with. Host it with a quality hosting company such as those Host Gator or Blue Host.
Initially monetize your blog with affiliate products. Google AdSense is an easy one to start with. You can also find many affiliate products at networks such as ClickBank or Commission Junction.
2. Internet coaching. Are you an expert at something people would pay to learn about? If you are chances are very good and you can turn that into an Internet coaching business.
For example, I recently saw a membership site online teaching people how to play the guitar. The owner used to give guitar lessons and earn about $20,000 a year.
Now he teaches people how to play the guitar in his private membership site. He earns a six-figure income doing it.
I also know of coaches who teach people how to do Internet marketing with personal coaching. Their fees run between $5,000 and $20,000 depending on the complexity of the program.
The opportunities to teach people how to do something and get paid for it are endless thanks to the Internet. This gives you the opportunity to make a lot of money starting your own Internet business.
3. Affiliate marketing. Are you familiar with ? They were one of the first affiliate programs over 15 years ago.
They are also the world’s largest online retailer and have an excellent affiliate program you can join or free. You can sell physical products and make money on every sale.
You can also sell digital products and earn commissions that way. Amazon reports that digital download ebooks now exceed sales for hard copy books.
These are 3 excellent Internet business ideas to take a look at if you are an entrepreneurial person. The opportunities to make money on the Internet are unlimited with your own business…

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Business Ideas

How to Promote Your Business on Twitter – It Is Possible to Outsource For A Few Dollars

Twitter is one of the most popular social networking sites till date that has helped persons from all spheres of life in some ways or the other. Lately it has been known to promote business in different ways because it allows wonderful exposure to business. With this, the business can outsource the required odd jobs and can earn profits from it. Twitter is in fact actively engaged in bringing about great minds together in connection and thus gives them opportunities to learn from each other. Since Twitter also gives critic to the forum, the business owner can study their prospects well and use them actively in their own business.

Promoting business in Twitter is not difficult. However, the top three ways for promotion are:

The Twitter profile should be complete, personalized and updated so that the customers can become aware of the existence of your business. This would help you to work at home and be active with the community at the same time.

Unable to handle your business alone, you can outsource few odd jobs online by posting a gig (little task that you want to be delivered) on different sites. Sites like gighour or freelancer would enable you to post your gig. People who want to earn money would post your gig on their Twitter account to make your business more popular and thereby help promote it.

There are several services provided by this social networking site. You can use the services of this site in different ways to get your business promoted.

The greatest advantage of promoting your businesses through Twitter by means of outsource is that you would be able to save money and earn benefits. You would just have to spend few dollars to get your work done. At the same time when your gig would be posted on others sites, everyone would become aware of the existence of your business.…

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Business Insider

Make Money Blogging – Why Every Blogger Needs Their Own Ebook

As a blogger there are many things you can do to make money and the fact of the matter is bloggers are not taking advantage of what they have right in front of them. What most people don’t understand is they need to have their own things as opposed to always taking other people’s products and promoting those. The thing you need to know is that as a blogger you need to have your own eBook in order to make money time and time again.
The first thing you need to understand is that you can’t just put ebooks that other people write on your blog, you need to have your own eBook that way you know what is in it and that it is stuff you are teaching or showing on your blog. What most people don’t understand is that you can simply take the articles you already have and rewrite them so that you can reuse them as opposed to writing new ones. The nice thing about rewriting articles and organizing them into an eBook is your readers will be thankful for it and they will keep coming back.
The trick to actually make money with your own eBook is to not just give it away like most people do, only give a sample away and sell the rest for a very cheap price. Something that I have done before on some of my niche websites is I will give away a sample eBook of how you can lose 15 pounds in 15 days and then I will sell that eBook for a discounted price of $6.99. Now I know you are probably wondering, “How is that a discounted price?” The reason this is discounted is because I also put a link to my actual eBook on eBay and when they click on that they see it is selling for $14.99. Trust me, this works better than selling the eBook for $2.99 or lower.
Tips to make money selling your eBook
Emphasize its importance – Whenever you write something on your blog you need to refer back to the eBook and how important it is that you get it. What most people do is they just put up a banner and hope people click on it, trust me, this doesn’t always work.
Lower the price – One thing you can do to make more money is to simply lower the price of it. The thing that most people think is in order to make more money you need to raise the price, this doesn’t work and you will actually make far less than before.…