Dha Business Plan

Hey everyone whats up? i hope everyone had a good day today and is looking forward to a great weekend :)
 so today's issue is Business plan which is just as fundamental as the business model as it also creates the foundation of a business and is usually one of the strategies or techniques a successful entrepreneur has.

So one may ask ... what is a business plan ??
                                                                    well a business plan is the written document that details a proposed or existing venture. it seeks to capture the vision, current status, expected needs, define markets and projected results of the business. A business plan tells the entrepreneur's story by describing the purpose , basis, reason and future of the venture.
There are several features of a good business plan : 
* Clear *Error Free *Concise *Realistic *Convincing *Sequential (systematic).
as well as there are several elements of business, these include:
*executive summary *History or background *Mission Statement *Goals and objectives *Keys to success *Financing requirements.
it must be noted that the executive summary, is the most important of the elements it is founded at the front of the plan but actually it is the last thing that is written.
there are other  elements of the business such as *product/service description *Market Analysis * Marketing strategies and *operations. the next important element is the mission statement - is the declaration of what the business aspires to be.
with this individuals usually set goals.. characteristics of setting goals includes: * task oriented *futuristic * specific and * challenging one also has to set up objectives and this is usually done by following:

S- specific

M- measurable

A-accurate

R- realistic

T- timely

i will show you an example of a format

so go on now go try creating a business plan to go along with your business model.

See You Later On Shadz Scoop :)

Building Or Buying !!!

Hey Everyone  !! passing through to drop some knowledge in your reach, as the title suggest its about building or buying a business , as it will be on of the decisions we all will face on our pursuit towards entrepreneurship but before that there is  a quote i would like to share with you that i received from my lecturer.

"EVERY BUSINESS, LIKE A PAINTING, OPERATES ACCORDING TO ITS OWN RULES. THERE ARE MANY WAYS TO RUN A SUCCESSFUL COMPANY. WHAT WORKS ONCE MAY NEVER WORK AGAIN. WHAT EVERYONE TELLS YOU NEVER TO DO MAY JUST WORK, ONCE. THERE ARE NO RULES. YOU DON'T LEARN TO WALK BY FOLLOWING RULES. YOU LEARN BY DOING, AND BY  FALLING OVER, AND IT'S BECAUSE YOU FALL OVER THAT YOU LEARN TO SAVE YOURSELF FROM FALLING OVER. IT'S GREATEST THRILL IN THE WORLD AND IT RUNS AWAY SCREAMING AT THE FIRST SIGHT OF BULLET POINTS."- Sir Richard Branson. 

so lets evaluate the building or buying a business. there are advantages to buying a business like there will already be a certain foundation stuff there for example customers suppliers, staff etc but on the other hand it leaves you developing a brand that was not necessarily the way you envisioned as well as there is an expectation that the customers have so it might be harder to create changes and getting them to accept it and try it out. however if this is the approach you choose there are certain things one needs to make sure of:

- why is it being sold

- is it really my right fit. is it what i want ?

- checkout its statistics and standings, save yourself any surprises

- research competitors 

also one has to check the operation of the business, the:

- Sales

- Costs

- Profits

- Assets

- Staff

with all this done if it is what you want go make your move and start your journey to success putting on your entrepreneur hat !!:) on that note ill leave you with 3 more attributes of a successful entrepreneur:

*Visionary

* Strategic

* Balanced

just wanna say " OUR DEEPEST FEAR IS NOT THAT WE ARE INADEQUATE. OUR DEEPEST FEAR IS THAT WE ARE POWERFUL BEYOND MEASURE. IT IS OUR LIGHT, NOT OUR DARKNESS THAT MOST FRIGHTEN US." - Marrianne Williamson, have a productive week and keep posted !

See You Later On Shadz Scoop :D

Business Models

What is a business model ?? ... the official meaning is A business model describes the rationale of how an organization creates, delivers, and captures value. in other words its the foundation of the business and it serves as a guide and plan that pushes the business towards success.

The Business Model Has 4 elements. these includes:

*THE FOUNDATION ELEMENT - Customer Value Proposition (CVP)

a company can only become successful when it creates customer value.

*THE PROFIT FORMULA

showing how the company creates value for itself while delivering customer value and this has four parts:

1. Revenue model: price x volume

2. Cost structure:

a. driven by costs of key resources

b. components to consider

 i. direct costs

 ii. indirect costs

 iii. economies of scale

 3. Margin model: Contribution needed from each transaction to achieve desired profits

 4. Resource velocity: Required turnover of inventory, fixed (and other) assets {+ Efficiency in utilizing resources to support expected volume and achieve anticipated profits}

* KEY RESOURCES

Main Assets: people, technology, products, facilities, equipment, channels, brand

* KEY PROCESSES

The sequence(s) of operational and managerial steps required to deliver value. this may also include (but not limited to): training, budgeting, planning, sales, service delivery.Also includes: corporate rules, norms, metrics, etc.

all these elements work together they are interlocked and they create and deliver value they can be seen as the building blocks of any business.
Customer Value Proposition & Profit Formula: Define value for customer & company respectively
Key Resources & Key Processes: Define how the value is delivered to both.

Take a look at this

so guys get started on your business model its the first official step towards the creation of the business i hope this comes in handy and is of much help and guidance.

See You Later On Shadz Scoop ;)

What Is Entrepreneurship All About ?

Hey Guys Whats up ?? Hope all is well been a minute since I've been by huh ?? anyway lets get into it today i wanna focus on some of the details that is involved in entrepreneurship. when we hear that word the first thing that comes to mind is "someone owning their own business" which in fact is true and is exactly just that but one needs to remember in doing so it entails alot and it is quite a big risk in one of classes we had a guest who did a presentation just to highlight important aspects of entrepreneurship and i remember he said "U HAVE TO DO IT FOR LOVE" and this is so true yea you wanna make money and yes you want your business to be successful but in order for this to happen you also have to have that passion and drive that will always encourage you to go forward! 
Take a listen to this :)

With that being said there are a few things we budding business owners must always keep in mind, this venture we seek to create is not for fun, yea we may do it because of love but its about gain & making a living off something you enjoy doing. i got a handout from my lecturer that i would like to share the main points & ideas with you. the handout speaks to 10 TIPS FOR SUCCESS IN BUSINESS
1.  Embrace change
2. Use technology.
3. Keep your eye on the ball.

4.  Know your differentiators.

5. Lead by example.

6.  Give the illusion of participation

7. Control timing.

8. Know what you don't know.

9.  Stay organized.

10. Plan for success.

Also there are fundamentals of entrepreneurship that we must all take into consideration as in we need to face and know the *Reality of it its gonna be hard and take alot of time, money and effort but the truth and fact is nothing can ever replace the feeling you will get once it becomes a success and you see that your dream has come true. also we need to have *Passion, *Networking *Add Value *Have a Plan  another fundamental thing is sorting *Finances and this comes in stages from the ground up to the starting and investing to the returning and maintaining. and lastly one needs a BUSINESS MODEL this entails certain details but don't worry it is the next issue ill be addressing. but for now i will leave you with this to meditate on as well as a song from my favorite dancehall artiste #TeamGully ---> #GullyPrincess :)

Remember : 

See You Later On Shadz Scoop :D 

Welcome To Progress !! ;)

So i'm Shadaine but they call me Shads and i'm starting my blog, I've always known that communication is one of the most important aspects of life as it is the reasons why relationships in our life works and last. Well in this course i am currently doing i'm learning how to entangle both the communication skills and the entrepreneurial skills so as to create and maintain a successful business. I have always envisioned starting my own business and bring to life this dream i have always had, as so i see it fit to use this medium to share insights about what i will be learning as it maybe beneficial to all those budding entrepreneurs out there, I Haven't had alot of experience doing this so i'll try my best to make it interesting, fun and as real as possible - representing my personality. this blog however about the general life and all possible aspects of it, i'll use my surroundings and the experiences and situations i see around me as examples and to re-enforce the points or topics which i use in each of my blogs so as to not limit myself but while doing this i will include the different concepts that i have been thought in my classes, not loosing focus.
Having Established this the first thing i would like to share with you guys is the meaning of some key terms that will definitely come in handy as the time passes by.These include the  meaning of entrepreneur, which  is one who organizes, manages, and assumes the risks of a business or enterprise. and the meaning of communication, which is information transmitted or conveyed. with this ill share three (3) attributes to a successful entrepreneur with you:

 *Resourceful
*Innovative
*Team-Oriented
Keep these in mind as we move forward on our Journey of Entrepreneurship :)

My Lecturer shared that song with us in class & i want to do the same listen to the words not just the great beat it has trust me it says alot.

With that being said i hope u find this interesting, informative and entertaining but for now ill leave u on this note.

See You Later On Shadz Scoop :)