How To Avoid The Legal Pitfalls when Setting up Your Own BusinessNo matter who you are you will make mistakes at some point in your business life and unfortunately the law is not very forgiving - ignorance is not a defence. Here are some of the common pitfalls to watch out for when setting up your own business.PartnershipsA partnership is formed when two or more parties form to start a business, sharing the workload and investing capital to get...more
Interested in learning how to reduce development time, save money and stay in control? Business professionals can learn how to create well-defined processes with the easy-to-manage Process Approach of Plan-Do-Check-Act.Real Tools for Real Business ProcessIn MBA courses, students come across a lot of buzzwords and the theories behind them. And in the textbook, the terms look and sound great. But after they finish with their classes, they think to...more
The long term benefits from pay per click advertising.Businesses are starting to look closely at the long-term benefits from pay per click advertising. Pay per click search engines are primarily used for sales in the now time frame, but they are also being used to build a business identity that their customers will remember. This form of brand awareness can be applied to a company of any size, large or small. If you take a look at a traditional magazine or newspaper ad, the companies are using that advertising to increase their brand awareness. The purpose of the ad is to direct the customer to their products or services but there is no chance to make a sale immediately. They are referred to a website or a retailer. When search engine advertising, as potential customers search the web looking for a product or service and see the same site come up in their searches time and time again it begins to create that same brand awareness for that product or service.Over 85% of all searches on the Internet are done through search engines and they are the best tools for enhancing a company's identity. They are identity builders, and they direct targeted consumers who are looking for your...more
Every business needs money at one time or another. The process of obtaining financing can be daunting and the chances of success limited if it is approached in a disorganized or haphazard way. Lenders are conservative critters; however it is important to understand that it is their job to lend money, and they are happy to do so if their risk is...more
Sound financial business planning means taking ongoing assessment steps looking at the business from multiple perspectives including capitalization, expansion, menu concepts, cash flow and even an exit strategy. Whether you are a chef dreaming of your own restaurant, the head of a family business discussing succession, an independent considering...more
So you want to open a restaurant? Many people come to me with their plans, and ideas after they have decided to build or open a restaurant. It is my responsibility to assist them in their planning process and determine how clearly they have thought their concept through. I ask them to show me a menu, and if their initial response is "I haven't gotten that far in my planning process yet," my response is "You haven't started the planning process yet".A menu is the foundation of any restaurant; Guests will support or avoid a restaurant for its food. Starting with a preliminary menu is a simple and basic approach to restaurant development. Begin with a menu, and you are light years ahead in the restaurant development process. A menu will tell you and your Guest what you are trying to be as a business, and greatly enhance your chances for success.I view a menu for content, image and pricing. Content (the actual items on the menu) will dictate service staffing needs, level of culinary experience and type of management required. Who will be doing the cooking, do they have experience in this type of food, and how much are you paying them? Image is how the Guest will perceive the menu. Menu...more
Continuing from the second article:6. About the aground mathematical model, let us to see the product k: First quantity received in 10/6/98, quantity 1,000, unit cost US$ 34.00. Second in 12/11/98, quantity 1,300, unit cost US$ 23.00 Third in...more
The Shadow knows. There used to be a radio program called The Shadow where the hero, Lamont Cranston, the Shadow, would overcome the shadowy forces of doom by clouding the vision of those around him. "Who knows what evil lurks in the hearts of men"...more
People will always stress that having a well researched business plan is key before you start your business. Although creating a business plan is often an important step in the evolution of a business, particularly if you need financing or you are...more
The choice of financing is an important determinant of whether a product reaches the market, or whether an existing business can survive. The choice of financing is an important part of being an entrepreneur and business owner, and the ability to...more
What is a balance transfer ?A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%)...more
Just a few years ago, when one thought of a home-based sales business, Tupperware, Avon and a host of multi-level marketing schemes might have come to mind. Today, however, changing market conditions and evolving consumer habits have converged to...more