Preparing a Business Plan
A business plan is a formal statement of a set of business goals. It contains the reasons why the goals are believed to be attainable, as well as the intended plan for reaching those goals. It may also contain background information about the organization or the team attempting to reach those goals.
EDL Consulting Services can help you to draw up a formal business plan. This can be one so effective that you will be able to base your business principals and daily regimens on it; and you will be able to present it to any potential funding provider as a reference for financing requirements.
In preparing a business plan you will need to ascertain whether there is a niche market for the product or service that you intend to offer. If the market exists, you will need to know how much of a demand there will be and whether you can command the price that you would need in order to make the necessary profits to sustain and grow your business. A good business plan will show how your product fits into its industry and what its growth potential would be. You would need to provide a plan on dealing with the competition in order to show how you intend marketing your product differently, making it superior to the rest. Additional factors such as financing requirements must be shown in a business plan. Costs such as launching the new company; training staff; and initial advertising schemes need to be taken into account.
A comprehensive and well-prepared business plan will essentially provide a detailed outline of your product; its marketing scheme; the expected costs in getting that product / service to market; and then, obviously, the expected returns that must be viable enough to ensure profitability, sustainability and growth.
Your business plan should describe briefly if your business is a new business venture, expansion of an existing business or the purchase of an existing business; the type of business activity in which you are engaged (manufacturing, wholesale, retail, food processing, service, high technology, etc.); your product or service and its uniqueness; the market to be served; your advantage over the competition; the main objectives of your organization; your management background; the project time frames involved. It should also explain whether it is a sole proprietorship; partnership or corporation.
It should describe the products to be produced or the services to be provided. What makes your productor service unique, or, how is your business different from others in the industry? What are the features or advantages that will entice customers to buy from you (i.e., convenience, service, performance)? Will you offer any product or service guarantees or warranties?
EDL Consulting Services can help you in making the necessary assessments and in undertaking due diligence. These discoveries will create a business plan that will prove to be effective and insightful. We are equipped to identify your needs and to advise of the correct steps to take in order for your business to start off on the right footing. We are a business consulting firm that can take you to a new level of growth; creating greater expectation of success; all starting with the effective and comprehensive preparation of a business plan that can be relied on.
My name is K. Enis Davis-Lewars and I have been in the legal field for over 30 years. In particular, I have been a litigation law clerk for over 21 years. I have been in business for over 20 years as a business consultant.At EDL Consulting Services we help start, build and grow your business.
How To Negotiate Your Business Debt
No businessperson ever wants to be forced to admit defeat and have to declare bankruptcy. Yet in the current economic climate, more and more business owners are having to do just that. If your business is currently facing mounting debt problems that seem inescapable, it may seem like there’s no hope. Your profit margins keep shrinking while your bills keep piling up and creditors are calling nonstop. What can you do in this situation? One option is to try and negotiate your business debts.
There are two ways to go about this. You can either try to perform your own business debt negotiation, or you can hire a corporate debt negotiation service that will negotiate with creditors on your behalf. The first option may sound more appealing – and cheaper – but it may not be as easy as it sounds. Creditors can be pretty tough to deal with. After all, they don’t want to lose out on the money they’ve lent to your business.
If you want to try and go the do-it-yourself route, then here is how you get started. The first thing to know is that you should strive to be honest with your creditors. Trying to get a business debt reduction after you’ve continually lied to your creditors about your financials is probably not going to end well for you. You want to be up front and honest, even though it can be embarrassing to admit that you’ve bit off more than you can chew. Ultimately, most of the time they will appreciate your candor and be more willing to work with you, at least for a time.
Next, you want to try and suggest a business debt negotiation agreement that is amicable to both parties. That means that your creditors get their money, and you keep your business on its feet long enough to start being profitable again. You may be able to convince them to lower your payments or settle your debt for a smaller amount if you can present compelling evidence that you can turn your profitability around. Basically, the logic is that if they keep hounding you, your business will continue to fail and they’ll never get paid. Try and convince them that by helping you out, they increase their chances of getting paid in the long run.
That may sound simple, but it’s really recommended that you work with debt consulting services when dealing with creditors. While they do charge a fee, they are often able to get you much better deals than you could get on your own, since they are skilled in negotiation and understand the needs of both your business and your creditors. They can also help you work out a cash-flow plan that can keep your business growing even as you work your way out of debt. Contracting a business debt negotiation firm is often your best chance at getting out of debt without declaring bankruptcy or losing the business you’ve worked so hard to build.
Eric Kaplan has been involved in the business debt reduction industry for over 25 years and has helped thousands with their business debt negotiation. His first recommendation is to find a reputable, debt consulting firm with references and proven results.