It is finished! Here is a detailed and time-tested questionnaire for new entrepreneurs. He used real businessmen-beginners and received high marks as an excellent tool for career guidance.
question mark to open its deloVashemu attention is invited to elaborate and time-tested questionnaire for new entrepreneurs. Many of our friends businessmen and entrepreneurs in the early stages it has been used successfully before to organize their work.
Check yourself, your strength and ability to do business on these issues can be rather easily. But even if you failed to answer or wrong answer to questions, it does not mean that you are not able to conduct their business. Simply define the direction for achieving your goals. Then you will be able to solve many problems that inevitably you will have.
If you master all the issues of this publication, you can be 100% sure that you are on the right track. Respond yourself frankly and openly to the following questions.
1. Do I have any skills for creating, owning and managing your own business?
You will be the most important employee in your company. Therefore, the issues of your strengths and weaknesses of particular importance. Here are some questions that need to be at the very beginning to set himself.
Can I start any business? What is it? In what area I was most powerful? What do I do?
How well do I interact with different people? Conflict / conflict I? Can I make concessions?
How fast and well I can make different decisions?
Do I have any restrictions for business management?
How well I know how to plan and organize it?
Tends to (a) I to the management of the business?
How can my business will affect my family?
In answering these questions, a list which you can complete yourself, at the very beginning, you will be able to accurately determine whether or not to start doing something new. Is it worth changing your life? Is not it easier to serve you in the workplace from 8:00 to 17:00 every day, and then immediately forget about what happened at work?
Many people like to get paid once a month and at the end of the month to discuss how much they bring to the enterprise that is running that pays them the money. Pay, but little in their eyes. They cost much more. But when it comes to self-organizing abilities of the case, it turns out that such people are not adapted to this. They do not even know how to earn money to pay salaries. For such people the way the business is fully closed. Their destiny: to serve in the workplace due time - that's all. If you are not kicked out, of course, work. And after work, at home, with friends, complain about the leadership that does not value them.
2. What kind of business you choose?
Usually the best business for you - one in which you are most experienced, versed and interested. Maybe what you are most interested. It sometimes happens that a hobby is quite profitable and successful business. An analysis of your capabilities may, for example, to convince you of the possibility of opening a manufacturing or service in which you are most powerful and educated. Maybe you are able to consult local experts and entrepreneurs on various aspects of growth and realization of business potential, using your knowledge in some area.
Comparing your education and skills in a chosen field of business with the state of demand and competition in the local market for products and services of this kind, you can determine your chance of success. The most important thing - to determine what you best know how, and what you can most certainly want to.
3. What is the business plan and why is it needed?
A business plan helps you to pinpoint your business, its direction, sort through all of your goals and what you offer your partner of the firm. Its basic components include the current and future balance sheets and profit and loss forecast and cash flow. It helps you to carefully allocate resources, monitor the potential for risks and make decisions.
Because the business plan contains certain and specific information about your company, the principles of its organization, settlement justify how you will repay borrowed money, well-written business plan is a critical component in any package of documents submitted to obtain a loan or investment. In parallel, he can explain to your staff, suppliers and other partners are your objectives and operational strategy for your company.
4. Why do I need to paint my business in detail?
It may seem like a silly question, "What is the business I actually realized?" But many owners or managers have failed precisely because they have never asked such a question. For example, one of our friend the owner of watch shop suddenly found that most of his time is spent on maintenance hours, while its main money goes to support their sales. In the end he decided that he carries out repair business hours, and stopped doing sales. As a result, its profit rose sharply.- 5. What you need to succeed in business?
There are several factors that ensure success in the small iznese:
management practices;
work experience;
technical support;
ability to plan;
great desire to do their work.
Only a small amount of start-ups can provide all of these factors. Therefore, an honest assessment of their capabilities and experience, try to find partners that make up the missing features.
6. Will your partners to facilitate the achievement of success?
Business partner can not guarantee success. If you have no management skills or start-up capital, reliance on a partner in this sense can be your best solution. Personal and professional qualities, as well as to provide technical or financial assistance, determine the success of the partnership.
7. How to find qualified staff?
Carefully select their employees. Determine the pre-employment, what exactly do you want from them. Need to train workers who can perform various tasks within its competence.
Carefully study are interviewing and resume. Remember, good questions lead to good answers, and the more you know about the experience and skills of each candidate, the more reason you will have to make the right decision.
8. How to set the salaries of staff?
Salary levels are determined by the degree of importance of the post using the criterion of job skills. Consult with knowledgeable people, with employment agencies, other entrepreneurs who have friends on the levels of costs and profitability in your business sector in your city.
Because there are statutory minimum wage rate for most types of jobs and employment, the real value of wages is defined as the average between your intentions and expectations of the employee.
9. What you need to pay more in addition to salary?
You have to deduct from the salary of workers income tax, to make mandatory payments to the funds of employment and the payment of health insurance, to fulfill obligations in social insurance.
10. What safety measures should be taken?
The threat of theft or embezzlement can destroy even the best business. To prevent this, you must install a reliable system of physical protection.
It is very important to have policies and security systems that ensure openness and awareness of all employees. Since computers can be used not only for the storage of information, but also for fraud, you should install in the computer system to protect and restrict access to information. This is a good investment of time and money. Either way, a thorough study of workers in the period of employment is the best safeguard against crime.
11. Should I hire family members to work in my company?
Often family members are involved in the business owner to help matters. For some small business owners that provides additional advantages in attracting business experience, for others it may cause irreparable loss. Carefully weigh their dedication and responsibility to assess the feasibility of their use as owner-managers. Will you be able to separate business decisions from the family?
My personal opinion - no, not in any way. I have experience in the recruitment of two brothers of my wife with an interval of a year. Both proved to be dishonest in relation to me as an employer, and to my business. Drone-family and relatives need to drive out of your business, unless of course they were not the founders and owners.
12. Do I need a computer?
Small business today is faced with increasing demands accounting of inventory, rising expectations of customers, rising costs and intense competition. The computer can organize the information so as to ensure speedy return on investment. In addition, computers can help you cope with a multitude of other problems that arise in the implementation of your business. However, computers are not a panacea. Therefore it is necessary to make an informed decision on the following issues:
whether you need a computer at all?
If "yes", what exactly is most relevant to your business needs?
13. Do I need to phone and fax?
All small businesses perform some common functions: sales, purchasing, financing and management. Depending on the individual characteristics of your business telecommunications can contribute to achieving your goals in each of these spheres of activity.
Phone - this is an effective tool for sales, helping to easily perform the basic functions of communication. On how effectively you are using telecommunication facilities depend on the efficiency and profitability of your business in a period of intense growth in the future.
14. How much money do I need to start a business?
Unambiguous answer to this question is quite difficult. You can completely do without the initial capital. There is such an experience. However, once you have decided on the production facilities and equipment, you should also think about having enough money to cover your operating costs - at least a year. Among other things, these expenses include your salary as the owner of the business and the means necessary to return you received credit.
One of the major causes of failure in business is lack of seed capital. Therefore, you need enough to work with your calculations and partners in order to assess the financial needs in the process of doing business. - 15. What are the sources of business funding?
Raising your own funds is often the first step in financing your business. In fact, this is the best indicator of how seriously do you feel about your own business. The fact that you are risking your own money, convinces the others to the appropriateness of investing in your business. You can also convince your family or your partner for additional financing for your business. An obvious source of funding are banks.
Other sources of funding - commercial finance companies, firms specializing in venture capital financing, the companies that provide regional development program, the insurance company. Borrowing options are commodity loans, issuance of securities, leasing. Leasing, for example, it may be preferable because it does not require the diversion of cash from circulation.
16. What should I do to get a loan?
First, ask yourself three questions.
How will you use credit?
How much debt do you really need?
How will you repay the loan?
When you first turn to the creditor with the application for a loan, you must provide projected financial performance and a comprehensive, sound business plan, including the name and details of the organization, the basic production funds, institutional structure and purpose of the ongoing business activities. The business plan should also provide a clear and detailed description of your business experience, expertise and ability to govern, and the qualifications of key personnel.
17. At what income level I expect?
This is a difficult question. However, there are comparative standards, called "industry indicators" to help you estimate the expected profit. Rate of return of investments, for example, makes it possible to estimate the expected rate of return per unit investment in the business separately by industry. These indicators are given on Codes and Standards for the size of businesses in the industrial classification, so you may find appropriate for your type of business to determine the rate and average return on investment. Help in finding this kind of information you can contact your local agency Chamber of Commerce or a trade association serving the sector (industry) of your business.
18. What you should know about accounting and financial calculations?
The role of accounting can not be overstated. Without current records of income and expenses you can not understand how your business is carried out and at what stage he is today. At a minimum, record-keeping is needed to substantiate:
the amount of tax payments in accordance with federal law, including income tax and deductions for social insurance funds;
your application for commercial credit from a supplier or a commercial loan bank;
your rights to the business, if you want to sell it.
But most importantly, you need reliable bookkeeping in order to successfully manage your business and increase your profits.
19. How to choose an appropriate accounting system?
Type of accounting system and the choice of parameters taken into account depend on industry characteristics and the size of your business. Specifically, the choice of indicators you can consult an accountant or you can make a decision. When deciding what kind of performance you need to consider, keep in mind the following:
how will be used by the accounts;
How important do you think this information;
if you can get this information on any similar registration form.
20. What forms of financial statements need?
You need to understand the meaning of the two primary financial statements and make them regularly:
balance sheet with allocation of assets, liabilities (liabilities and equity);
Profit and loss account as a summary table of all your income and expenses during the reporting period.
Learning to read a balance sheet and profit and loss is not too difficult.
21. What is included in marketing?
Marketing - The most powerful organizing tool for your business. There are four main aspects of marketing:
Product: the product or service that you sell;
price: the money you receive for your product or service;
promotion: the ways in which you say about yourself in the market - who you are, what you are and where you are;
Software: the channels through which you drive your own product to the consumer.
Clearly, marketing encompasses much more than just advertising and sales. For example, a major part of marketing involves the process of studying your customers:
What do they want?
that they can afford?
what are they thinking?
Your understanding and ability to formulate questions and practice answers to them play a major role in the success of your business.
22. What is the capacity of my market?
The principles of determining market share and market potential are the same for all geographic areas. First, identify the consumer (who) and the geographical size of the market (as much). This is the total market potential. Knowing the number and strength of your competitors and estimated market share, you can take away from them and win, you get exactly the market potential for your company.
23. How to organize the advertising?
The rate of growth of your business depends on how well you plan and implemented your campaign. Since this is one of the main factors shaping the image of your business, the advertising campaign should be well planned and provided financial resources. Contact local advertising agencies to help you develop an effective advertising strategy.
24. How to determine price levels?
The price of the goods or services is determined by three main factors forming production costs:
direct costs for the purchase of materials;
labor costs;
unforeseen expenses.
Once you have identified the necessary volume of production costs, you can set a price for your product or service that will ensure profitability of your business and at the same time be competitive. Because pricing - a complicated process, requiring consideration many factors, you can take advantage of professional experts.
25. How to choose your business?
Time and effort spent on your choice of location for doing business, may directly provide the success or failure of your business. When choosing a place of business you have to take into account such factors as the characteristics of your industry, market potential, availability of labor, the number and power of competitors.
26. Which is better: to buy or to lease?
This issue must be carefully weighed. Leasing does not bind your cash, but its drawback is that you can not resell or upgrade this equipment until such time is not completely buy it. A careful comparison of alternatives and cost analysis will help you make the right decision.
27. Can I operate a business from home?
Of course. According to expert estimates, more than 20% of small businesses operate directly in the home owner.
28. How to find suppliers, manufacturers, distributors?
Most vendors need new customers. If you know the range of products manufactured by some company, a letter or phone call will take you back to the local distributor-wholesaler. To some extent, a good source of information about suppliers and evaluation of competitive products are trade exhibitions.
29. What do I do when I'm ready to (a)?
You have completed the self-training, you develop a business plan, you know where (in what area) you will work, you decided how much money you need, you own all the necessary information about your employees, your suppliers and market opportunities. When you are firmly established in its decision to take action - it is time to start a business. Good luck to you.