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Get the Benefits of all the modules below.
This is a must tool for anyone considering to go into business for themselves or in partnership with others. This is also an amazing and an incredible tool for those of you that are already in business wanting to do better or gain clarity about their endeavour.
This tool will assist you appreciate and get clarity about your decision for doing business. It will also help you understand and address exactly what is essential to you in running your venture. If spending time with your friends and family is important to you and then you discover that you do not get to do that due to the fact that you have actually ended up being extremely busy in your enterprise then the experience of having your own business will not be a great one. In this priority and exercises you will be able to recognize your values and therefore appreciate exactly what it is that is important to you in running your own business.
Numerous entrepreneurs have a fantastic concept and vision for their company; however it always remains in their head. Once have actually begun to work in their business, often they do not get to fulfil their vision since they are too involved working in their enterprise and have no time to do this, with time they may have forgotten their vision that they started out with and now it is merely just about keeping the business running or regrettably some business owners will have either sold up or shut down. This tool will help you develop your business vision from your reasons for entering into business and your values which will provide you greater clarity about where your company is heading.
When you have gained clarity about your business and understand your motivations and passion for it and created your business vision then have to address whether it will make you any money or not. Whether you wish to become a millionaire or simply want to make some sort of living out of it, you still need to know how enterprise is going to generate its income.
This tool will help you identify your income streams. Many entrepreneurs can see the money but fail to deal with the expenditures in the business and they frequently under estimate the cost of running one which can then cause issue sand challenges in the endeavour. This priority will help you realize the cost of establishing and running your business.
The most crucial aspect of any business is the cash flow. If your business runs out of cash in then effectively the business is over. This priority will assist you to comprehend and work out the set up cost of your business, the running cost of your business per month, lifespan of your business if you made no sales, just how much you may need to invest to make your business viable. In essence it will aid you to recognize whether your business, as you see it at the moment will make you any money or not.
Going through this priority will certainly answer two crucial questions for you.
If the responses to the above questions are “YES” then you know that you have an extremely realistic and a fantastic opportunity of having a successful and an excellent business.
To run an efficient business can be overwhelming as there are so many things that are involved. However; it is not impossible, far from it, if you follow these six very easy and simple steps given in you will be able to:-
Having worked so hard to get your business up and running, you want to make sure that it is all worth it. You could be working very hard in your business and if you fail to keep an eye on what is happening then it is possible that other people could be benefiting from your lack of awareness.
Often you will deliver goods or give service to your customers in advance of receiving payment for it. It is also not uncommon that you may become extremely busy in your business to keep a tab on what payment has been received and what has not. Sometimes you will be paid but the amount is different to what you should be receiving. Unless you have a simple system to keep a track of what is happening, you will find that other companies or people are profiting from all your hard work. In this module you will create a simple system that allows you to keep an eye on your finances with just a glance. A system that allows you to ensure that you are receiving the correct amount of money, credit and also that you are making the right payments too.
Many entrepreneurs are too busy working in their business to have time to focus on or work on their business goals. They are so overwhelmed that they do not have the time to analyse what is happening in their business, in their industry or look at the bigger picture. Targets that have been set are often never met. Business owners are very bad at conducting their own business reviews which if undertaken in the correct manner would allow meet business goals, change direction for a more profitable future if the original course is not yielding the desired results and allow you to set realistic expectations from yourself and your company. This module will show how you can conduct a very quick and efficient review of your business and allow you to stay focussed on your business as well as take advantage of new opportunities which may otherwise have been overlooked.
It is important that businesses find ways and means to keep growing. Entrepreneurs are often too focussed on getting new customers rather than looking at ways of making their business efficient. It is much harder to find new consumers then it is to make your operations run more cost effectively. In this module one of the exercises will help plug the holes in your business that is losing you money. The benefits of this tool is that it will save you money in your business which will increase your bottom line profit, allow you to identify procedures that are not well organized and make them more proficient and it does not involve working harder but just smarter. This one exercise saved my business in excess of £15k per year.
Effective marketing is essential for every business but many small to medium size enterprise never use this tool with any good outcomes. Reality of business today is that there is a lot of competition from large multiples to online retailers and others and therefore it is essential that not only do you find new customers but retain existing ones. Marketing has the potential to do that but this tool also has the potential of costing a lot of money and still you could have nothing to show for your investment. Successful marketing strategies mean that you become visible to your potential customers at a cost that will be easily covered by the sales that you make and continue to profit with ongoing sales. The marketing tool in this module will help you understand and define the lifetime value of your customer and helps you to then create a realistic budget for your marketing strategies. It will also help you create an annual marketing calendar which can be used to plan your promotions appropriately.
Monitoring your business growth is important because it will help you plan for future projections. If you are growing significantly in certain areas of your business then you can focus in that area and if you find that your business is not doing as well as you would like or that it has reached a plateau then you can either change the direction or strategies of your enterprise. This tool will help you visualize the markers that indicate how well your business is doing.
Many entrepreneurs love business but hate numbers. They run their business and at the end of the financial year hand over their files of invoices to their accountant who will prepare their end of year account. Many business owners do not understand them and simply have them done because they are necessary. As an entrepreneur you will need to understand your profit and loss accounts at least to a basic level. It is also important to understand the balance sheet too and this module will help to simplify this element of business so that you can appreciate what the Profit and loss accounts and balance sheet are showing.
Often you do not need to make dramatic changes in your business to create huge benefits. This module will look at the things that you need to keep an eye on so that you can tweak things that will create massive impact on the success of your business.
How important is knowing or even predicting what income your business is going to generate? How many business owners would jump into their business if they knew that the venture they have invested in is not going to make them the profit that they had expected or even worse it is not even making a profit or breaking even?
It identifies your income streams and asks you to estimate your what income are you expecting from these different avenues.
You can break down your individual expense and work out your cost per month.
You can work out the cost of setting up your business.
You can work out what amount of investment will be required to have a successful business.
You can put into the permeation all the different scenarios and see how that would affect your cash flow on a month to month basis.
The cash flow predictor can be used to look at your annual projections or you could even work out your weekly cash flow if necessary.
You can compare what is actually happening in your business with your predictions and appreciate how it is doing. It could help strategies your business because you can then focus on areas that you are doing well on or choose to spend on areas where you are not doing as well as you could be.
Whereas you may have figures in your head or on bits of paper this tool will help you appreciate the possibilities of what the cash flow could look like if things went to plan through the year, did better than you had expected or did not do as good as you had wanted it to.
Imagine you wanted to pursue a new investment opportunity and to do this you had to recruit a new employee. You simply add this to the cost of your current wage bill and you would be able to see what would happen to your cash flow if no extra business was generated, If business success was achieved at the best outcomes and if modest business success was achieved. If after all the permeations have been entered, you will get a good idea of how much income and profit to expect. This could go a long way in helping you decide whether it is an opportunity worth undertaking or not.
You can use the figures from your cash flow predictor to explain your business to potential investors. This can help raise finance for it should you require it.
In a nutshell this tool is essential for anyone in business.