Let's talk business - Business Basics

LET’S TALK LET’S TALK BUSINESSBUSINESS

WITH ADENIYI ADEBOLA ATIBAWITH ADENIYI ADEBOLA ATIBA

OPENING FORMALITIES

Adeniyi Adebola Adeniyi Adebola AtibaAtiba

C.E.O./Principal Consultant , The Potter’s Touch Services

•HOW TO WRITE A WINNING BUSINESS PLAN

•HOW TO WRITE AN EFFECTIVE BUSINESS/SALES PROPOSAL

•HOW TO FUND YOUR BUSINESS

•HOW TO IMPROVE YOUR BUSINESS

OBJECTIVES

BUSINESS WRITING 101

HOW TO WRITE A WINNING BUSINESS PLAN

Thinking about starting a Thinking about starting a business?business?

A company's business plan is what lenders such as banks and any other financial institution use in deciding to lend you money. It's the main company document that your employees -- and you -- use to gauge your company's success and to make decisions about what you should do first, second, or not at all.A business plan is your road map for how you expect to succeed and how you'll measure success.

What is a Business Plan?

THE EXECUTIVE SUMMARY

INTRODUCES YOUR BUSINESS

STRATEGY AND PROBABLY IS THE

MOST IMPORTANT SECTION FOR

LENDING INSTITUTIONS.

1. An executive summary outlining goals and

objectives.

CLEARLY EXPLAIN THE ORIGINS BEHIND THE

COMPANY'S CREATION AND HOW YOU OR YOUR

BUSINESS ASSOCIATE CAME UP WITH THE IDEA TO

START YOUR BUSINESS.

2. A brief account of how the company began.

EXPLAIN IN A FEW PARAGRAPHS YOUR SHORT- AND LONG-TERM GOALS FOR THE COMPANY.

3. Your company's goals.

THE MANAGEMENT SECTION SHOULD INCLUDE THE

NAMES AND BACKGROUNDS OF LEAD MEMBERS OF

THE MANAGEMENT TEAM AND THEIR RESPECTIVE

RESPONSIBILITIES.

4. Biographies of the management team.

A KEY ASPECT OF THIS SECTION WILL BE A

DISCUSSION OF HOW YOUR PRODUCT OR SERVICE

DIFFERS FROM EVERYTHING ELSE ON THE MARKET.

5. The service or product you plan to offer.

REMEMBER THAT YOU'VE GOT TO CONVINCE LENDERS,

EMPLOYEES AND OTHERS THAT THE MARKET YOU'RE

AFTER IS RELATIVELY LARGE AND GROWING.

6. The market potential for your service or product.

HOW DO YOU PLAN TO TELL THE WORLD YOU'RE OPEN FOR BUSINESS?

7. A marketing strategy.

THIS SECTION SHOULD INCLUDE A SUMMARY OF YOUR

EXPECTED FINANCIAL FORECASTS, INCLUDING SPREADSHEETS

SHOWING THE METHOD THAT YOU USED TO REACH THESE

PROJECTIONS. ALSO INCLUDED YOUR BALANCE SHEETS,

INCOME STATEMENTS AND CASH-FLOW PROJECTIONS FOR THE

ENTIRE PERIOD OF THAT YEAR. THIS SECTION IS ALSO WHERE

YOU TELL YOUR INVESTORS HOW MUCH MONEY YOU INTEND

RAISING AS START UP CAPITAL.

8. A three- to five-year financial projection.

ALL GOOD BUSINESS PLANS INCLUDE A SECTION THAT LAYS

OUT THE BENCHMARKS YOU'LL USE IN DECIDING TO CALL

IT QUITS.

9. An Exit Strategy.

Class Activity

Raising funds Raising funds for your for your businessbusiness

Small business finance options without going to the bank

QUICK STEPS

Writing an effective business proposal

A BUSINESS PROPOSAL IS A SALES TOOL. IT IS A DOCUMENT WRITTEN SPECIFICALLY TO GAIN SOMEONE'S BUSINESS. IT IS NOT THE SAME THING AS A BUSINESS PLAN, WHICH IS A DOCUMENT OUTLINING THE FORM AND STRUCTURE OF A NEW BUSINESS. IT IS A SOLICITATION, SOMETIMES CALLED A SALES PROPOSAL, WHERE YOU EXPLAIN YOUR PROPOSAL IN SUCH A WAY AS TO WIN THE FAVOR OF THE SOLICITED PARTY.

What is a business proposal?

Before Writing the Proposal

Know your intended client wellMake sure that your clients need exactly

what you are offeringThink of ways to establish your credibilityMake sure you showcase examples of your

expertise

The Proposal Writing Process

Sales Proposal Format

IN THE SECTION, YOU NEED TO SHOW THE COMPANY BACKGROUND AND KEY ADVANTAGES. FOR EXAMPLE, COMPANY NAME:____; MISSION STATEMENT:____; SERVICES OR PRODUCTS PROVIDED:____: OFFICE LOCATION:____; CONTACT DETAILS:___; PROJECT TEAM:___; THE KEY COMPETITIVE ADVANTAGE OF OUR COMPANY:______; THE BENEFITS WE BRING TO YOUR COMPANY:_____.

1. company introduction and competitive

advantages.

IN THE SECTION, YOU NEED TO IDENTIFY THE NEEDS OF YOUR TARGET BUYERS AND PROJECT SCOPE. FOR EXAMPLE: THERE ARE GENERAL REQUIREMENTS:____; TECHNICAL REQUIREMENTS:____; TIMELINE REQUIREMENTS:____; COST REQUIREMENTS:___. AFTER THE ANALYSIS OF THE PROJECT AND SITUATION, WE HAVE PROPOSED THE FOLLOWING SOLUTIONS:____.

2. Identification of buyers’ needs and your solution

IN THE SECTION, YOU NEED TO GIVE DETAILS OF YOUR IMPLEMENTATION PLAN AND COST PROPOSAL. FOR EXAMPLE, THE IMPLEMENTATION PLAN IS SCHEDULED AS FOLLOWS:____; BASED ON THE ANALYSIS OF YOUR NEEDS AND SCOPE, WE HAVE ESTIMATED THE TOTAL COST AT:____; THE COST BREAKDOWN IS:____.

3. Implementation plan and budget.

TO WRITE A BUSINESS PROPOSAL THAT GETS THE BUSINESS REQUIRES PLENTY OF PREPARATION AND WORK. THE MOST COMMON MISTAKE MADE BY BUSINESS PROPOSAL WRITERS IS A LACK OF UNDERSTAND OF THE CLIENT’S BUSINESS, INDUSTRY AND CHALLENGES.

In Conclusion

BECAUSE THE BUSINESS PROPOSAL PROCESS CAN BE TIME CONSUMING, IT’S EASY TO WANT TO TAKE THE SHORT CUT AND CREATE A SIMPLE TEMPLATE FOR SUBMITTING A PROPOSAL. YET, THIS QUICK CUT AND PASTE METHODOLOGY IS A PATH TO GETTING YOUR PROPOSAL TOSSED AND YOUR BID OUT OF THE RUNNING.

In Conclusion

TO WRITE A BUSINESS PROPOSAL WORTHY OF YOUR CLIENTS ATTENTION AND ABLE TO SOLVE THEIR MOST VEXING PROBLEMS REQUIRES INFORMATION. YOU NEED TO CLEARLY UNDERSTAND THE ISSUES THE CLIENT IS FACING WHILE LEAVING YOUR OWN ASSUMPTIONS AND IMMEDIATE SOLUTIONS ON THE TABLE.

In Conclusion

IF YOU WANT YOUR BUSINESS PROPOSAL TO STAND OUT IN THE SEA OF COMPETING FIRMS, THE ESSENTIAL STEP IS TO THOROUGHLY INTERVIEW YOUR CLIENT.

In Conclusion

How to improve your business

SALES = PROFITMORE SALES TRANSLATES TO MORE PROFIT!

1st lesson to be learnt in business

HOW DO I SELL MORE SO THAT I CAN MAKE MORE PROFIT HENCE MORE MONEY? OR HOW CAN I INCREASE MY SELLING ACTIVITIES, SINCE IT IS THESE ACTIVITIES THAT TRANSLATE TO PROFITABILITY?

??????

 1.LEVERAGE ON YOUR EXISTING CLIENTELE.2.GET MORE FAMILY MEMBERS.

Answer

•IMPROVE•INSPIRE•INNOVATE

To improve and grow your business you will

need to:

SUCCESS IS INTENTIONAL, IT IS A COMBINATION OF GENIUS AND HARD WORK

Last words

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finance and personal development products and services that empower the individual man to succeed and achieve the life of their dreams.

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Resource Capacity Development Firms in the World

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Here’s to your All round Success!!!Here’s to your All round Success!!!