Make a Business Plan

Making a business plan will help you achieve your entrepreneurial goals. How to make it? The following ways are suggested to do:
1. Make an idea or product that you believe can be successful and marketable. This is easier said than done. Coming up with a viable product or idea is sometimes harder than constructing a business plan. In order to solve this problem, you must get your creative juices flowing. There are many different ways to accomplish this task. Play a game, read a book, paint a picture, play a sport etc.

Richest (Business)men in Some Countries

Do you want to know about the richest (business)men in some countries? They are very successful in their business. I will write them below: citizenship (alphabetic), name, number of wealth (in US$), type of business, residence, personal.
1. Argentine: Gregorio Perez Companc & family, $2.1 billion, oil & gas, Argentine, 73 years -married, 7 children.
2. Australia: Andrew Forrest, $6.5 billion, mining & metals, Australia, 46 years – married, 3 children.
3. Austria: Karl Wiaschek, $4.9 billion, department stores, Austria, 90 years – widowed, 2 children
4. Belgium: Patokh Chodiev, $3.3 billion, mining & metals, Kazakhstan, 55 years – married, 3 children.
5. Belize: Huang Maoru, $1.4 billion, retailing, China, old unknown – married.
6. Brazil: Antonio Ermirio de Moraes & family, $10.0 billion, diversified, Brazil, 79 years – married, 9 children.
7. Canada: David Thompson & family, $18.9 billion, Canada, 50 years – divorced, 3 children.
8. Chile: Iris Fontbona & family, $10.0 billion, mining & lumber, Chile, old unknown – widowed, 3 children.
9. China: Yang Huiyan, $7.4 billion, real estate, China, 26 years – married.
10. Colombia: Luis Carlos Sarmiento, $5.5 billion, banking, Colombia, 75 years – married, 5 children.

A small business but favorable, how to start it?

There are eleven steps to start a small business, namely:
1. Start with an idea, product or service. Put it down on paper. You’re more likely to succeed if you plan. Put down things like name of the business, what resources you need, short and long term business and financial goals.
2. Chart your way to financial success. What price do you intend to sell your product or service for? How much will it cost you to produce? Work out a roughly estimated profit remembering to factor in fixed costs like rent, energy etc.
3. Check out your competitors. How much are they selling a similar product for. Can you add something to it to make yours different and hence a better price.
4. Put down your Unique Selling Proposition. Also how are you going to market your product? Via newspapers, a website, through word of mouth?
5. Determine what type of business you would like to be – an incorporation, LLC, etc. This is important for tax purposes.
6. Think of how you’re going to finance your business initially. The bank, venture capitalists, angel investors, SBA grants (government), your own savings are all options.
7. Make your product(s) or service available to customers using your marketing strategy above.
8. Keep a close eye on your running costs and keep them in – line with your projections.
9. Get your accounts in order right from the start. Saves you tedious work later.
10.Get a merchant account.
11.Set up payment methods like credit card, debt card etc.

Five Steps to Start a Business

Running your own business is a rewarding but demanding career and life choice. There are many different opinions about how to be a (successful) businessman, how to start a business, how to earn much money from a business and so on. In my opinion, there are five steps to start a business namely:
1. Invent a business idea. This doesn’t have to be a brand invention or new product. In fact, many successful small businesses have found a way to deliver an existing service more efficiently or economically or have customized an existing product or service.
2. Make a business plan. This doesn’t require hundreds of pages with thousands of charts. Use the plan to research things like how much you can charge for your product/service, how much it will cost to produce or deliver (include variable and fixed costs), and the size of your potential market (i.e of customers). The plan should evaluate your competitors – how many competitors, how strong are they, where are they, how will you compete. The plan should state what is required to enter this market, barriers to entry such as high fixed costs (factories, restaurants) and government regulations that must be met.
3. Decide if you need financing. Your business plan will include a section on financing. How will you pay the costs to start and run your business? Do you need a bank loan? Use credit cards? Self finance?Also, you’ll need to consider how much salary you need to support yourself while starting your business.
4. Make your initial marketing plan. Promotion/marketing need not cost a fortune. Some businesses require very little. For example, many service businesses such as accounting firms build their practices through word-of-mouth referrals. You can also join free or low-cost associations to build awareness of your small business. Again, your business plan (product, customer, competitor) will help you determine the marketing efforts you need to undertake.
5. Build your infrastructure early. This doesn’t mean build a big factory or a fancy office. It simply means keep accurate customer records, a clean set of updated books and a technology foundation, if necessary. One of the downfalls of many small businesses is that they don’t know if they’re making or losing money (i.e the need for a clean set of books). Another downfall is when small business owners try to sell their company years later but lack accurate customer history and customer information. Many times, the customers of a small business are its best asset, and, without the records, the small business can be sold only for salvage.

Do you want to know about the richest ten men in the world? They have very much money. And they are businessmen namely:

1.       Warren Buffet (Finance Investor, USA)-US $62 billion
2.       Carlos Slim (Telecommunication Services, Mexico)-US $60 billion
3.       Bill Gates (Software Producer, USA)-US $58 billion
4.       Lakshmi Mittal (Steel Producer, India)-US $45 billion
5.       Mukesh Ambani (Petrochemicals, India)-US $43 billion
6.       Anil Ambani (Petrochemicals, India)-US $42 billion
7.       Ingvar Kamprad (Furniture, Sweden)-US $31 billion
8.       KP Singh (Real Estate, India)-US $30 billion
9.       Oleg Deripaska (Alluminium Producer, Russia)-US $28 billion
10.     Karl Albret (Retail, German)-US $27 billion

Source: Forbes, March 6, 2008.