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Wednesday, December 18, 2019

Make 2020 a Year of Business Transformation

It's time to think about how to implement a solid business transformation program that will lead to real progress, increased productivity and opportunities to compete more successfully

If you are new to a senior leadership role, or maybe just want to make 2020 a year of fundamental and long-term change in your existing role, now is the time to consider implementing a business transformation program. It could be that you have been promoted and now have the authority to make executive decisions, or you might have identified a lack of efficiency in the new business that you are participating in. It could be that companies have relied on the knowledge of several individuals, rather than effective, powerful systems and processes, and there are gaps in current knowledge after they move. Or it may be that those who control the wallet are not aware of the loss of efficiency that results from the old manual system, and are reluctant to invest the funds that are needed to make changes.

Whatever the reason, when we enter a new decade, it's time to think about how to implement a solid business transformation program that will lead to real progress, increased productivity, and opportunities to compete more successfully. While cost savings may be your main goal, this is also the time to think about how the new system will increase employee engagement, the company's reputation, and streamline future growth.

The first thing to note is to focus on the triangle: connecting leadership, strategy and culture. Unless these three factors are considered together, the program will fail. But what exactly does this mean in practice?

Leadership is top - it is important for the management team to fully follow the process, and be strong, united and able to steer the ship. Below are the other two pillars - strategy - making sure you have a strong plan with clear results that can be achieved. And last but for sure, culture - it's just as important, and without it all fails. This important element considers the people who work in an organization. Clear communication at every step of the process is very important to keep employees engaged, and fully in line with the company's philosophy and reasons for change.

This all drives the crossroads of work and people. Without this alignment, any business transformation program will be a challenge. Do it right and the process will be much smoother.

Some questions to ask yourself and those who share responsibility for implementing this program are -

Does your organization know the work that needs to be done and why? If they are not clear about their individual goals and roles in them, you may face obstacles. If they know what needs to be done, it is important for them to know how it needs to be done. People are always the key to success, so intrinsic culture needs to be right. What are cultural norms? The organization is used to it. And do they flow from above? Ensure leaders 'carry out talks' so that the team will be open and enthusiastic about the transformation program, and will not treat it with suspicion. If leaders are there with basic rules, and fully understand what the culture inherent in the company is, respect will follow. A strong, open and honest culture, holding fast to them at all levels will encourage high performance and increase the likelihood of a positive transformation process.

Is the job related to strategic imperatives or is it just 'busy work'? Is this just about cutting time doing unnecessary administrative tasks, and therefore reducing costs, or is the new system clearly linked to a strategy, such as 'entering a new market' or 'launching a new product'?

Does work contribute directly to customers or market needs, or does it allow several other areas in the business to do this? If not, why do we do it?

For real and long-term success, make 2020 a year where every tactic in business is linked to strategic results, be it solving customer problems or meeting market needs. Make a resolution to not only 'do business with each other' in the organization and think 'big picture' for long life.

At each stage, consider the holy trinity - and make sure leaders fully understand the relationship between strategy and culture, and the same interests that need to be placed on both. It's not good to be great with people if we can't get work done, and there is no point in getting work done in any way that is detrimental to society. Nothing is sustainable. A successful business transformation program is about balancing culture and strategy, and a great leader will have the skills to drive

5 Affordable Low-priced Franchises, You Can Start with Less than $ 10,000

Everyone says that starting a business is expensive and risky, but it doesn't have to be that way. One approach, which some believe is safer, is to have a franchise. It has a proven business model, default brand and corporate support. And not every franchise will cost millions. In fact, you can start several franchises with less than five numbers - and not just random bin-bargain franchises. These companies made it to the 2019 Entrepreneur Franchise list in 2019.

1. Dream vacation

Dream Vacations Image credit: Dream Vacations | Facebook
Franchise Entrepreneur 500 Rating: 101

Initial investment: $ 3,245 to $ 21,850

New units in 2019: 212 units (+18.9 percent)

Based in Fort Lauderdale, Florida, Dream Vacations offers travel packages such as hotels, tours, travel protection and more. The company was founded in 1991 and started a franchise business the following year.

2. International Buildingstars
Buildingstars InternationalImage credit: Buildingstars International | Facebook
Franchise Entrepreneur 500 Rating: 199

Initial investment: $ 2,245 to $ 53,200

New units in 2019: 148 units (+20.1 percent)

Buildingstars, a commercial cleaning company founded in 1994, is headquartered in St. Louis. The company began franchising in 2000 and now has regional offices in Chicago, Houston, Phoenix, Pittsburgh, New York and more. Services include carpet and floor care, as well as green cleaning and consulting.

3. destruction planner
Cruise Planners Image credit: Cruise Planners | Facebook
Franchise Entrepreneur 500 Rating: 60

Initial investment: $ 2,295 to $ 23,367

New units in 2019: 6 units (+0.2 percent)

Cruise Planners is a network of long-distance travel agents that sell packages such as cruises, travel insurance, car rental, and others. The company is based in Coral Springs, Florida, and offers in-house financing to cover franchise costs.

4. have your Town Money Saver
Town Money Saver Award Image: Town Money Saver Facebook
Franchise Entrepreneur 500 Rating: 490

Initial investment: $ 5,700 to $ 17,000

New units in 2019: 3 units (+6.1 percent)

Town Money Saver is a monthly direct mail advertisement leaflet distributed to homes and businesses. The company was founded in 1992 and started a franchise business in 2005.

5. Jazzercise Inc.
Jazzercise Inc. Credit credit: Jazzercise Inc. | Facebook
Franchise Entrepreneur 500 Rating: 94

Initial investment: $ 2,405 to $ 17,155

New units in 2019: -147 units (-1.6 percent)

Founded in 1969 and franchised since 1982, Jazzercise Inc. pair dance moves with aerobic exercises in a trademark total body conditioning program. The company is based in Carlsbad, California, but franchises exist in more than 31 countries.

63 Businesses to Start for Under $10,000

63 Businesses to Start for Under $10,000

You know you want to start something for yourself. You just need to channel your ambition and time into an idea that will make extra money, make you proud and maybe lead to a full time effort. It would be better if you get an extraordinary moment when you say "I'm quitting!" to your boss. But what good idea should you start with?

From childcare, repair services, and party planning to business consulting, craftsmanship and rewriting, there are businesses for every level of skill, interest, and budget on our list of ideas, you can start with less than $ 10,000. Some of the ideas listed here can even start with less than $ 2,000!
This business can be started on a full or part time basis. Your location can be your client's home or business, an office car or truck, a small storefront, or even just a website. You will advertise locally with leaflets and coupons, cold-call prospective customers, or set up shops with websites and online advertising campaigns - finding customers will depend on the business idea you choose.

Related: 5 Affordable Franchises You Can Start with Less than $ 10,000

Each idea includes a business overview, recommended skill levels needed to provide services or make products, ideas for marketing your business, and current average rates for others being billed in this field. We also include a list of resources for each business idea, including business associations, websites, and books, which will help you continue your research if it triggers your ideas. Displaying resources on this list of ideas is not at all the support of a company or publication; it is the responsibility of every entrepreneur to ensure he does business with reputable organizations. Instead, this is the first resource for your journey from ideas to business ownership.

Wednesday, October 23, 2019

Why Your Operating Model is Not Just Your Organisational Structure

When carrying out the business transformation section, very often the need to create a functional operating model is high on the agenda, to ensure a clear structure, and a defined role. However, the mistake many leaders make is to think that the key function of the operating model is to develop the organizational structure, and everything else will then fall into place. This is very short; there are many other elements that need to be considered to ensure success and proof of the future of the business.

Before you start the focus pathway on the organogram, which reports to whom or is responsible for certain activities, it is important to first determine what the operating model is and how it works. While it does not include an organizational review, it also needs to include your structure, processes, work flow, systems, people / culture strategies, and roles and responsibilities.

I advise leaders to start with an 'inside-out' approach. Think about how the organization interacts with the market, its customers and clients, and then review what makes sense strategically. Consider your business objectively and whether there are different ways to look at it. There are many factors at play - whether structured by market, by customer, by product, profit and loss, specific project, function, or matrix of a number of these factors. What works for your business.

After this is established, then reverse the thinking and consider the business from the inside out. Take the time to think about how your bespoke operating model or 'way of working' can produce a competitive advantage. For example, facing the market through product lines and not 'industry lines', if this goes against normal processes, and will be a point of difference for your company. If there is no clear competitive advantage for doing things differently, find out how you can do the same thing, but more effectively and efficiently.

After establishing this, the next step is to determine what workflow processes, data and systems are needed to enable the operating model.

The matrix operating model is becoming more commonly introduced, which, when done well, can help foster collaboration and seek input from various functions throughout the organization. But very often this matrix model falls because processes are possible, data and systems are not well defined, and those involved are not sure what they are doing. This can cause a 'perfect storm' of unclear accountability, fear, and mistakes, and people retreat rather than leaning in. By establishing KPIs and communicating them effectively, this can be a successful system to follow. It is also important to consider mechanisms for reviewing and discussing KPIs and ideal results - this cannot just be a set and forget.

When preparing an operating model, it is important to have all the leaders in the room map everything. But be sure to use the facilitator to keep everyone on track, making sure everyone contributes equally and to manage difficult conversations objectively. At the end of the discussion, there should be a clear idea of ​​what the operating model is like, taking into account the following checklist:

How does the organization deal with its market - through product / industry lines?
What organizational structure is placed, who is responsible for certain responsibilities.
What processes are needed are needed to streamline the workflow
What data and systems are important to enable the process
Which roles include what specific activities, and how are processes, systems and data owned? How is accountability enforced?
What behaviors are needed throughout the team to facilitate the operating model
What mechanisms exist to ensure discussion and improvement continue and that there are review points
This is a useful guide for making decisions. As long as the decision maker understands the importance of developing an operating model that includes an organizational structure, but is not exclusive to it, a successful growth trajectory can be implemented, which is appropriate for the goals, measurable and aligned with the objectives.

Tuesday, August 13, 2019

Business Financing Guidance

Securing funds to start, buy or grow a business can be a struggle, but Guidance Financial is here to help you. We are an industry leader in 401 (k) business financing, also known as rollover business start-up or robes. Robes is an alternative financing method that allows you to use qualified pension funds to start or expand your business without incurring any tax penalty or debt.

ROBS can be used with other funding methods too - use ROBS as an SBA loan payment and start working with your money faster.

Guidance Financial is committed to helping people succeed from small to large businesses. We work with new and existing business owners to provide financial education and special funding solutions. Guidant is an industry leader in innovative business funding solutions, with more than 20,000 funded businesses, over 15 years of experience and billions of dollars in funding.

How to turn a business into a start-up business
If you have at least $ 50,000 in a retirement account, you can use ROBS to start or grow your business. ROBS allows business owners to transfer money from their retirement accounts (IRAs or 401 (k)) to new 401 (k) accounts, which are sponsored by financed companies. The new 401 (k) package buys shares in a privately financed company.

Step 1 - Create a new C company
Companies financed through ROBS arrangements must be corporation C so they have stock for a new 401 (k) plan to buy.

Phase 2 - A new 401 (k) plan was created
A new 401 (k) plan was made for C Corporation. The company owner becomes the trustee and the plan administrator. While this might sound scary, the 401 (k) Plan Guide offers administrative services to handle the hardest part for you.

Step 3 - Convert existing pension funds to a new 401 (k) plan
Funds are rolled out from an existing pension account to a new 401 (k) account. This is part of the Rollover Rollover Code for Starting a Business.

Step 4 - 401 (k) Buy Stock
Plan 401 (k) to buy private shares in C Corporation.

Step 5 - Your business is really rich and ready to use!
Because of stock repurchases, C Corporation (your business!) Is now really rich. These funds can be used for business activities, including financing new businesses, buying existing businesses, or paying SBAs or paying business loans.

Guidant Financial - Money to start or buy a business
Guidant Financial also offers SBA funding, unsecured funding, portfolio funding and other forms of financing. We support small businesses through their lives and beyond by offering business evaluation solutions, business services, 401 (k) administration plans and more.

Wednesday, May 1, 2019

7 Steps a Perfectly to Written Business Plan

Every business should have a written business plan. Regardless of its purpose, determining a direction or attracting investors, a business plan is critical to the success of an organization. But how do you write a business plan?

SBA.gov recommends business plans, including:

Executive Summary - Your Business Image
Company Details - Tell us what you do
Market Analysis - Research on industry, market and competitors.
Organization and Management - The structure and management of your business
Service, product or service provided
Marketing and Sales - How to Market Your Business and Sales Strategy
Loan Request - How much money you need for 3 to 5 years
Financial Forecasting - Provides information such as balance sheets.
Attachments - short history and permission add-ons
However, getting started is difficult. So, here are seven steps to writing a perfect business plan.

1. Look, look, look
Senior financial management executive William Paraglia writes and writes "Research and analyze products, markets and specific experience." Remember that you spend twice as much time evaluating and thinking about your business plan.

"To properly draw a map, you need to know the company, the product, the competition and the market carefully."

It is your duty to know everything about the commercial and industrial companies you provide. Read what you love about the industry and talk to your audience.

Related: Do You Need a Business Plan?

2. Set goals for your plan.
The Business Plan for Entrepreneurs is "a written document that contains information about your business ideas, marketing and sales strategies, your financial background and income." However, your business plan can serve many purposes.

The operator said "This is a road map that helps the business community to plan for the future and make them successful." It is important to remember that you are making money or starting your own business. However, if you want to attract investors, your plan will have different goals and you will need to write a clear and concise plan. When deciding on your plan, make sure you set immediate goals.

Affiliation: 3 requests to help you write your business plan

3. Create a company profile
Your company information, your company history, the products or services you offer, your target market, target audiences, sources and solutions and what makes your business unique. When I create my company profile, I put it on the "About" page.

Company files are often found on the company's website, and are used to attract customers and potential customers. However, you can use your profile to describe the company in your business plan, not just an important component of your business plan. Still one of the first business plans

Having a profile makes the process easier.

Relationships: Analyze a Marketplace of Your Business Plan.

4. Document all aspects of your business.
Investors want to make sure their business is making money. With this expectation, investors want to know everything about your business. To help with this process, write down all costs, cash flows, and industry estimates. Don't forget the little details that look like website tricks and license agreements.

5. Do you have a strategic marketing plan?
A good business plan always has a strategic and proactive marketing plan. This includes pursuing marketing objectives such as:

Introducing new products
Expand or redeem the existing products market
Entering new territories for the company
Increase sales in a particular product, market or price range. Where does this business come from? Exactly.
Cross-selling (or bundling) one product with another
Engages in long-term contracts with desirable clients
Increase prices without reducing sales figures
Modifying a product
There is a content marketing strategy
Improves production / product distribution
"Every marketing objective should have a number of objectives (sub-categories of goals) and strategies to achieve those goals," says the entrepreneur.

“In the Objectives section of your marketing plan, you focus on the number of marketing jobs for the upcoming year and why. In the Implementation section, you focus on the practical, sweat and callus areas of who, where, when and how. This is the life in marketing streams. ”

Of course, there will be costs involved in achieving marketing goals. “Every activity you have planned for your marketing plan requires a section that budgets you,” says the entrepreneur. It is beneficial for you to create separate budgets for internal time (staff time) and external expenses (out of pocket). Expenses).

Related: Why You Should Have a Business Plan

6. Make it adaptable based on your audience.
“Potential readers of a business plan are a diverse group of bankers, venture capitalists and employees,” says the entrepreneur. “It's a diverse group, but it's a limited group. Each type of reader has some particular interests. If you know these interests, you can ensure that they are taken into account when making a plan for a specific audience. ”

For example, bankers will be more interested in balance sheets and cash flow statements, while venture capitalists will look at the basic business idea and your management team. However, the manager of your team will use the plan to "remind themselves of the goals".

For this reason, make sure your plan can be revised depending on the audience you are reading. However, limit these changes from one plan to another. This means that when sharing financial projections, you must keep that data across the board.

Related: 7 Steps to Successful Business Instruction

7. Explain why you care.
Whether you share your plan with an investor, customer, or team member, your plan should show that you are interested and dedicated, and that you care about your business and plan. You can discuss the mistakes you've learned, list the problems you want to solve, describe your values, and establish what sets you apart from the competition.

When I started my payment company, I set out to conquer the world. I wanted to change the way payments were made and make it easy for anyone anywhere in the world to pay for it free of charge. I explained why I wanted to make it. It shows my passion through everything I do.

By explaining why you care about your business, you create an emotional connection with others so they can move your organization forward.