A set of “initial”objectives must be defined to establish a preliminary baseline scenario, but the final framework requires a progressive reconciliation and convergence of all objectives and targets. Considering only one target (e.g., the fiscal deficit) in this iterative exercise risks defining other important targets as de facto residuals. “
A set of “initial”objectives must be defined to establish a preliminary baseline scenario, but the final framework requires a progressive reconciliation and convergence of all objectives and targets. Considering only one target (e.g., the fiscal deficit) in this iterative exercise risks defining other important targets as de facto residuals. “
Capital budgeting (or investment appraisal) is the planning process used to determine whether an organization's long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth pursuing. It is budget for major capital , or investment, expenditures.  Many formal methods are used in capital budgeting, including the techniques such as Accounting rate of return Net present value Profitability index Internal rate of return Modified internal rate of return Equivalent annuity These methods use the incremental cash flows from each potential investment, or project . Techniques based on accounting earnings and accounting rules are sometimes used - though economists consider this to be improper - such as the accounting rate of return, and &quot; return on investment .&quot; Simplified and hybrid methods are used as well, such as payback period and discounted payback period . Contents [ hide ] 1 Net present value 2 Internal rate of return 3 Equivalent annuity method 4 Real options 5 Ranked Projects 6 Funding Sources 7 External links and references [ edit ] Net present value Main article: Net present value Each potential project's value should be estimated using a discounted cash flow (DCF) valuation, to find its net present value (NPV). (First applied to Corporate Finance by Joel Dean in 1951; see also Fisher separation theorem , John Burr Williams: Theory .) This valuation requires estimating the size and timing of all the incremental cash flows from the project. These future cash highest NPV(GE). The NPV is greatly affected by the discount rate , so selecting the proper rate - sometimes called the hurdle rate - is critical to making the right decision. The hurdle rate is the minimum acceptable return on an investment. It should reflect the riskiness of the investment, typically measured by the volatility of cash flows, and must take into account the financing mix. Managers may use models such as the CAPM or the APT to estimate a discount rate appropriate for each particular project, and use the weighted average cost of capital ( WACC ) to reflect the financing mix selected. A common practice in choosing a discount rate for a project is to apply a WACC that applies to the entire firm, but a higher discount rate may be more appropriate when a project's risk is higher than the risk of the firm as a whole. This is what net present value called. [ edit ] Internal rate of return Main article: Internal rate of return The internal rate of return (IRR) is defined as the discount rate that gives a net present value (NPV) of zero. It is a commonly used measure of investment efficiency. The IRR method will result in the same decision as the NPV method for (non-mutually exclusive) projects in an unconstrained environment, in the usual cases where a negative cash flow occurs at the start of the project, followed by all positive cash flows. In most realistic cases, all independent projects that have an IRR higher than the hurdle rate should be accepted. Nevertheless, for mutually exclusive projects, the decision rule of taking the project with the highest IRR - which is often used - may select a project with a lower NPV. In some cases, several zero NPV discount rates may exist, so there is no unique IRR. The IRR exists and is unique if one or more years of net investment (negative cash flow) are followed by years of net revenues. But if the signs of the cash flows change more than once, there may be several IRRs. The IRR equation generally cannot be solved analytically but only via iterations. One shortcoming of the IRR method is that it is commonly misunderstood to convey the actual annual profitability of an investment. However, this is not the case because intermediate cash flows are almost never reinvested at the project's IRR; and, therefore, the actual rate of return is almost certainly going to be lower. Accordingly, a measure called Modified Internal Rate of Return (MIRR) is often used. Despite a strong academic preference for NPV, surveys indicate that executives prefer IRR over NPV [ citation needed ] , although they should be used in concert. In a budget-constrained environment, efficiency measures should be used to maximize the overall NPV of the firm. Some managers find it intuitively more appealing to evaluate investments in terms of percentage rates of return than dollars of NPV. [ edit ] Equivalent annuity method Main article: Equivalent annual cost The equivalent annuity method expresses the NPV as an annualized cash flow by dividing it by the present value of the annuity factor. It is often used when assessing only the costs of specific projects that have the same cash inflows. In this form it is known as the equivalent annual cost (EAC) method and is the cost per year of owning and operating an asset over its entire lifespan. It is often used when comparing investment projects of unequal lifespans. For example if project A has an expected lifetime of 7 years, and project B has an expected lifetime of 11 years it would be improper to simply compare the net present values (NPVs) of the two projects, unless the projects could not be repeated. The use of the EAC method implies that the project will be replaced by an identical project. Alternatively the chain method can be used with the NPV method under the assumption that the projects will be replaced with the same cash flows each time. To compare projects of unequal length, say 3 years and 4 years, the projects are chained together , i.e. four repetitions of the 3 year project are compare to three repetitions of the 4 year project. The chain method and the EAC method give mathematically equivalent answers. The assumption of the same cash flows for each link in the chain is essentially an assumption of zero inflation , so a real interest rate rather than a nominal interest rate is commonly used in the calculations.Y [ edit ] Real options Main article: Real options analysis Real options analysis has become important since the 1970s as option pricing models have gotten more sophisticated. The discounted cash flow methods essentially value projects as if they were risky bonds, with the promised cash flows known. But managers will have many choices of how to increase future cash inflows, or to decrease future cash outflows. In other words, managers get to manage the projects - not simply accept or reject them. Real options analysis try to value the choices - the option value - that the managers will have in the future and adds these values to the NPV . [ edit ] Ranked Projects The real value of capital budgeting is to rank projects. Most organizations have many projects that could potentially be financially rewarding. Once it has been determined that a particular project has exceeded its hurdle, then it should be ranked against peer projects (e.g. - highest Profitability index to lowest Profitability index). The highest ranking projects should be implemented until the budgeted capital has been expended. [ edit ] Funding Sources When a corporation determines its capital budget, it must acquire said funds. Three methods are generally available to publicly traded corporations: corporate bonds , preferred stock , and common stock . The ideal mix of those funding sources is determined by the financial managers of the firm and is related to the amount of financial risk that corporation is willing to undertake. Corporate bonds entail the lowest financial risk and therefore generally have the lowest interest rate. Preferred stock have no financial risk but dividends , including all in arrears, must be paid to the preferred stockholders before any cash disbursements can be made to common stockholders; they generally have interest rates higher than those of corporate bonds. Finally, common stocks entail no financial risk but are the most expensive way to finance capital projects.The Internal Rate of Return is very important. [ edit ] External links and references ^ Sullivan, arthur ; Steven M. Sheffrin (2003). Economics: Principles in action . Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 375. ISBN 0-13-063085-3 . http://www.pearsonschool.com/index.cfm?locator=PSZ3R9&PMDbSiteId=2781&PMDbSolutionId=6724&PMDbCategoryId=&PMDbProgramId=12881&level=4 . Capital Budgeting International Good Practice: Guidance on Project Appraisal Using Discounted Cash Flow , International Federation of Accountants , June 2008, ISBN 978-1-934779-39-2 Prospective Analysis: Guidelines for Forecasting Financial Statements , Ignacio Velez-Pareja, Joseph Tham , 2008 To Plug or Not to Plug, that is the Question: No Plugs, No Circularity: A Better Way to Forecast Financial Statements , Ignacio Velez-Pareja, 2008 A Step by Step Guide to Construct a Financial Model Without Plugs and Without Circularity for Valuation Purposes , Ignacio Velez-Pareja, 2008 Long-Term Financial Statements Forecasting: Reinvesting Retained Earnings , Sergei Cheremushkin, 2008
Capital expenditures (CAPEX or capex) are expenditures creating future benefits. A capital expenditure is incurred when a business spends money either to buy fixed assets or to add to the value of an existing fixed asset with a useful life extending beyond the taxable year. CAPEX is used by a company to acquire or upgrade physical assets such as equipment , property , or industrial buildings  . In the case when a capital expenditure constitutes a major financial decision for a company, the expenditure must be formalized at an annual shareholders meeting or a special meeting of the Board of Directors. In accounting , a capital expenditure is added to an asset account (&quot;capitalized&quot;), thus increasing the asset's basis (the cost or value of an asset adjusted for tax purposes). CAPEX is commonly found on the cash flow statement under &quot;Investment in Plant Property and Equipment&quot; or something similar in the Investing subsection. For tax purposes, CAPEX is a cost which cannot be deducted in the year in which it is paid or incurred and must be capitalized. The general rule is that if the acquired property's useful life is longer than the taxable year, then the cost must be capitalized. The capital expenditure costs are then amortized or depreciated FIXED ASSESTS
Operating expenses include: accounting expenses license fees maintenance and repairs, such as snow removal, trash removal, janitorial service, pest control, and lawn care advertising office expenses supplies attorney fees and legal fees utilities, such as telephone insurance property management, including a resident manager property taxes travel and vehicle expenses Travel expenses are defined as those incurred in the event of travel required for professional purposes.For this purpose, “travel” is defined as the simultaneous absence from the residence and from the regular place of employment . It is prompted by professional or company purposes and likely does not concern the traveller’s private life, or concerns it only to a small degree. Travel expenses include travel costs and fares, accommodation expenses, and so-called additional expenses for meals . For the self-employed ( contractors and freelancers ), the expenses constitute business expenses .leasing commissions salary and wages raw materials
Office Operations Articles Office Operations Articles About... Business Cards Customer Care Delegation Email Family Businesses Filing Getting Organized HR and Staffing Hiring New Employees Home-based Businesses Mail and Ship Office Maintenance Office Management Office Supplies Paper Printing Protecting Your Business Recycling Startups Stress Taking Care of Yourself Terminations and Layoffs Time Management Travel Business Cards Back to top Business Card Basics What to Do with Business Cards Customer Care Back to top 8 Keys to Success: Customer Care Assess and Improve Customer Loyalty Saving Dissatisfied Customers Setting Customer Service Standards Delegation Back to top ABCs of Delegation Getting It Done Through Delegation Email Back to top Archiving Emails Eight Easy Ways to Control Your Email Managing Email Family Businesses Back to top Family Businesses: The Good, the Bad, and the Ugly Lessons from Family Businesses for Non-Family Businesses Filing Back to top Checklist for Keeping Neat File Folders Comparison Chart: Storage Boxes Comparison Chart: Storage Drawers End-tab Filing: Efficient and Easy File Cabinet Buying Guide File Cabinet Safety Tips Filing Categories Pros of Piling Instead of Filing Records Management and Storage Setting Up Your Lateral Files Use Color To Improve Your Filing System Getting Organized Back to top 10 Ideas to Help You Remember 8 Ways to Keep a Clutter-Free Office Dealing with the Paper Pile-up Destress Your Desk Checklist Elbow Room: Maximizing Your Office Space FAQs: Office Organization Learn More About Storage Mobile Office Organization Organize Your Desk in 12 Simple Steps Organizing A to Z Organizing Phone Calls 1-2-3
HR and Staffing Back to top A Little Thanks Goes A Long Way About Administrative Professionals Day Asking for a Raise Bonuses: How to be Fair Boost Office Morale Dealing with Employees Who Are Late Dealing with Employees Who Procrastinate Develop Vacation and Sick Leave Policies Follow the Rules For Cubicle Etiquette Gift-Giving Etiquette for the Office Gifts the Whole Office Can Use Give Good Feedback Handle Hostile People Effectively How to Write Business Greetings Just Doing Their Jobs Preventing Employee Fraud Preventing Office Conflicts Reenergize Your Career Respecting Your Business' Ethics Policy Take the $ Out of Apprai$als Win the Motivational Grand Prix Writing Emergency Policies Hiring New Employees Back to top Ask the Right Interview Questions Avoid 4 Big Interviewing Mistakes Hiring Students as Part-time or Short-term Employees Hiring Teens Making Your Recruiting Practices Red-Hot New Employee Checklist New Hire Paperwork What You Can't Ask in a Job Interview Home-based Businesses Back to top Bright Ideas for Home Office Lighting Checklist for Starting a Home Business Choosing a Room for Your Home Office Creating a Social Network When You Work at Home First Impressions Count: Create a Professional Image for Your Home Business Home Office Details You Shouldn't Overlook Home Office Essentials Home Office Security Setting Up a Home Office Mail and Ship Back to top 6 Tips to Efficient Mail Management Design and Print Your Own Labels Freight Insurance Holiday Shipping Simplified How to Control Your Mailing Costs Mail and Ship Checklist Penny-wise Postage Tips Office Maintenance Back to top Breakroom Essentials Clean and Green First Aid Essentials Office Cleaning Checklist Restroom Supplies: What Do You Need? The Dirt on Office Cleaning The Refrigerator: The Source of Workplace Stress Your Desk: The Office Hot Zone Office Management Back to top 8 Keys to Success: Sign Design 9 Keys to Success: Business Donations Belt-Tightening Tips for Office Managers Bootstrapping a Business Can You Manage? Choose the Right Spot for Your Business Educate Your Employees How to Be a Mentor to Your Employees How to Hire a Consultant How to Price Your Services How to Run a Meeting How to Work Safely in the Office Learn More About Bulletin Boards Leasing Office Space Office Party Planning Packing and Moving Your Office Quick Cost Savers Rumor Has It Set Your Business Goals Telecommuting Basics The Importance of Sticking to a Budget The Indispensable Office Manager's Survival Guide Wrap Your Meeting Up Right Writing Your Company's Operating Policies Office Supplies Back to top 6 Tips to Saving Money on Office Supplies 7 Tips to Saving Money on Office Supplies A Unique Way to Manage Supplies Comparison Chart: Staplers Cool Office Supplies Ergonomic products that ease strain FAQs: Custom Stamps Glossary of Office Supply Terms Glossary of Terms Headsets: A Healthy Choice How to Pick the Right Pen Learn More About Binders Learn More About Boards Learn More About Calendars Learn More About Indexes Learn More About Labels Learn More About Staplers Learn More About Writing Instruments Learn More About Writing Pads Make the Telephone a Power Tool for Your Business Office Supplies Checklist Product Matchmaker: Pen Refills Stretch Your Toner Cartridge Dollars
Paper Back to top Advantages of Photo Paper Comparison Chart: Laser Paper Learn More About Paper Paper Buying Guide Product Matchmaker: Fax Paper Reduce and Prevent Paper Jams Smart Paper Use Printing Back to top Comparison Chart: Inkjet Printers Comparison Chart: Laser Paper FAQs: Remanufactured Toner Cartridges How to Pick the Right Printer Product Matchmaker: Cartridges and Toner Tips on the Effective Use of Color Unleash the Power of Your Printer Web-based Printing: A New Twist on a Familiar Service Protecting Your Business Back to top 10 Ways to Prevent Identity Theft Comparison Chart: Anti-Theft Safes Comparison Chart: Fire-Protection Safe Comparison Chart: Personal Safes Learn More About Safes Learn More About Shredders Protect Your Business with a Safe Protect Your Identity Safes: Frequently Asked Questions Shred Credit Cards, CDs, and Diskettes Workplace Violence Policy and Prevention Recycling Back to top Setting Up a Recycling Program Smart Paper Use Staples Recycling Center What to Do with Obsolete Computers Startups Back to top Business Plan Basics Business Startup Calculator Common Startup Mistakes Developing a Business Idea Setting Up a New Office Why Start Your Own Business? Stress Back to top Balancing Work, Family and the Holidays Stress: The New Occupational Hazard Stress: Top Ten Stress Reduction Tips Taking Care of Yourself Back to top Avoiding Carpal Tunnel Energize Yourself with Exercises Getting Away When You Can't
Office Operations Articles Terminations and Layoffs Back to top Alternatives to Termination What Not to Say When Firing a Worker When Firing, Have a Method for Your Madness Time Management Back to top 10 Calendar and Planner Tips 15 Easy Tips to Better Manage Your Time 9 Time-Saving Tips for Office Managers How to Control Interruptions Learn More About Time Clocks Put Off Procrastinating! Time Tactics for Work Tips for Keeping a Calendar or Planner Travel Back to top Travel Essentials Checklist Travel Tips and New Airport Regulations Office Operations Articles
Sales & Marketing ArticlesSales & Marketing Articles Sales & Marketing Articles About... Advertising and Marketing Branding Customer Relations Direct Mail Marketing Materials Networking Pricing Public Relations Selling Techniques Public Relations Back to top Secrets of Successful Press Releases Writing a Press Release Selling Techniques Back to top Best Practice Return Policies Hone Your Sales Presentation Skills How to Sell at Tradeshows Selling to Local Goverments Selling to Local Governments Provided by OPEN Small Business Network SM While federal and state governments may be the biggest contract opportunities for small businesses, local city, county and town governments also provide excellent selling possibilites. Municipal agencies — such as parking bureaus, water and sewer commissions, or even boards of education — regularly do business with small, local companies, and it may pay to investigate whether pursuing something similar could be profitable for your business. It's important to understand that doing business with a government is vastly different than typical business–to–business selling. Sales cycles can be extremely slow, and prospective contractors often face a good deal of red tape. Local governments rarely have the ability or desire to move quickly. Many contracts, particularly larger ones, require a long bidding process and the approval of politically appointed boards which don't always find it easy to reach a consensus. It's not unheard of for the contracting process to drag on for years. Local governments also tend to focus on the short term. Rarely are they able to think past the next election. There's little incentive for them to try anything new. This means that if you're selling &quot;benefits,&quot; you can't look at long–term goals, but need to focus on short–term needs. You also need to show how your product or service is a safe choice, since these agencies rarely, if ever, take risks when it comes to procurement. Use the following tips to help assist you in reaching this potentially lucrative market. Learn how each agency does business Spend time up–front researching the contracting methods used by each municipality you're targeting. Each town or city does things differently; their political personalities vary, as do their contracting methods. Contact the people in charge of purchasing at the municipal agency you think would be interested in using your products or services. Do they, in fact, buy products or services like yours? What procedures do they use? What information do they need to see before considering a purchase? How are buying decisions made? Who is responsible for developing the appropriate RFPs? What requirements does your company need to meet? What politics are involved in purchases? If you can't get this information from the agency, try speaking with non–competing businesses that are selling to them, and ask them the same types of questions. Network with local businesses through your chamber of commerce. Look for the names of contractors when winning bids are posted. Another excellent source of background information is the local newspaper. Go through back issues of the daily or weekly paper and search for coverage of events like commissioner meetings. Look for information about political issues, recent appointments, or budget changes that will give you perspective on how decisions are made. Does the board regularly table motions or does it act quickly? Is there any behind–the–scenes maneuvering you need to know about? Does it favor local contractors or does it look statewide or nationwide to fill contracts? Be very sensitive to price Municipal contracts are almost always awarded to the low bidder, so agencies can show that they are not wasting the taxpayers' money. For a small business that has positioned itself to sell on value, not on price, this can be extremely frustrating. Remember that governments base their buying decisions on short–term expenditures, not long–term savings. You'll need to focus your sales pitch on what they have to spend, not on what they'll save. Cost out any contract bid carefully. Can you get the contract and still make money? Don't low–ball the price just to get in the door; unlike some business–to–business contracts, you'll find it nearly impossible to renegotiate a higher rate. Don't get yourself locked into a money–losing contract. Look for influence at all levels of government Don't limit your sales efforts to the contracting agency. Sell across the government spectrum to find people who can champion your business. In a political arena, there are many others who can help you get your products or services in front of the right agency. Is there anyone else who can lobby to help you get the contract? Are there city council members, commissioners, or other elected officials who can represent your case? You don't have to have been a major contributor a politician's campaign to do this. Many politicians naturally want to support local businesses, and are interested in the success of their constituents, especially around election time. You can also make contact through community groups and charities you might be active in. Make RFPs work for you At almost every level, government contracts are awarded through formal bidding using requests for proposals, or RFPs. These RFPs are used to ensure that the contract goes to the lowest possible bidder who can meet the agency's specific, stated needs. Even if you offer a unique product or service, there still may need to be an RFP. The point of this process is simple; it avoids appearances of favoritism to a particular supplier, and allows the government to show that tax dollars are being spent efficiently. Shrewd small business owners can turn this process to their favor, however, speak regularly with the office responsible for developing the RFP and become a resource to them. If you offer some kind of unique solution, work with the agency to help draft the RFP. Make sure the published specs include any proprietary features your product or service offers. If you're able to offer a package of services (both computer systems and training, for example), ask to have the RFP structured that way. The bottom line: the RFP should be worded in a way that makes your company the ideal bidder. Build on successes Cities and municipalities are hesitant to try new things, even ones that will save them time or money. The reason is simple — old ways are safer than new, and local governments may prefer to play it safe. If you're able to persuade one or two cities to go with your product or service, more will be open to it. So focus your efforts on the one or two municipalities that are most likely to buy your product or service. When you're able to demonstrate that your product or service has been successful elsewhere, other agencies will be more open to considering it. The previous content is provided by OPEN: The Small Business Network SM from American Express. Back to top Sales & Marketing Articles About... Advertising and Marketing Branding Customer Relations Direct Mail Marketing Materials Networking Pricing Public Relations Selling Techniques Advertising and Marketing Back to top 8 Keys to Success: Sign Design 8 Reasons So Many Marketing Plans Fail A Little Thanks Goes A Long Way Advertising Effectively Advertising and Marketing: FAQs Boost Business with Brainstorming Co-op Advertising: Stretch Your Advertising Dollar Common Marketing Mistakes Get Listed on Search Engines How to Write Business Greetings It's a Coupon Holiday Market Research Questionnaires Marketing Your Business with Seminars Marketing in a Slowing Economy Summertime Marketing Smarts Branding Back to top Easy Ways to Build Your Brand The Power of Promotional Goods Customer Relations Back to top 8 Keys to Success: Customer Care Assess and Improve Customer Loyalty Client Etiquette Connecting with Customers Find Your Highest Potential Customers Learn to Think like Your Best Customers Saving Dissatisfied Customers Setting Customer Service Standards Using Customer Testimonials Direct Mail Back to top 11 Keys to Success: Direct Mail Buy the Right Direct Marketing List Direct Mail: Frequently Asked Questions Do-It-Yourself Direct Mail Envelopes for Direct Mail Postcards: They're Not Just for Vacation The Secrets of Successful Sales Letters Top 10 Recipients of Your Direct-Marketing Efforts Marketing Materials Back to top Business Card Basics Handouts that Make a Lasting Impression Networking Back to top Chambers of Commerce: Who Needs Them? How to Get Clients When You're Starting Out Surviving and Thriving on Main Street Pricing Back to top Pricing What You Sell Tactics to Avoid Lowering Your Prices Top Six Pricing Mistakes
Write a Successful Press Release Provided by OPEN Small Business Network SM A press release is one of the primary ways you can communicate news about your company to the media. Reporters, editors, and producers are hungry for news, and they often depend on releases to tip them off to new and unusual products, company trends, tips and hints, and other developments. In fact, much of what you read in newspapers, magazines, or trade publications, hear on the radio or see on television originated in press release form. Unfortunately, the average editor receives as many as several hundred press releases each week, the vast majority of which end up getting &quot;filed.&quot; Your challenge is to create a release that makes the journalist want to know more and discover that your story is one they must tell. Use these 10 tips to write a release that will get noticed. Use an active headline to grab the reporter's attention The headline makes your release stand out. Keep it short, active, and descriptive; in other words, use something like &quot;Doe Named Man of the Year&quot; instead of &quot;John Doe Gets Award&quot;. Put the most important information at the beginning This is a tried and true rule of journalism. The reporter should be able to tell what the release is about from the first two paragraphs. In fact, chances are that's all they may read. So don't hide good information. And remember the &quot;5 W's and the H&quot; – make sure your release provides answers to Who, What, When, Where, Why and How. Avoid hype and unsubstantiated claims A writer can smell a sales pitch a mile away. Instead of making over–inflated statements, provide real, usable information. Find legitimate ways to set you and your company apart and stress those points. To promote your business, write a release that answers questions about your business, rather than one that provides only general statements about how great or interesting your business is without saying why. Be active and to the point Use language that will get the reader as excited about your news as you are. If your release is boring or meandering, they may assume that you will not be a good interview. Keep your release to two pages or less On the rare occasion, you can opt for a third page if it is necessary to provide critical details. Otherwise, if you can't state your message in two pages, you're not getting to the point. Include a contact Make sure your release has a person the journalist can contact for more information. This person should be familiar with all the news in the release, and should be ready to answer questions. And issue the release on your company letterhead — it looks professional and gives the writer another way to reach your firm. Keep jargon to the minimum If you're in a technical field, try not to use technical terms. Many reporters are not as intimate with your company or your industry as you are. Real English, not jargon, best communicates your story. Stress benefits This falls into the category of &quot;don't say it, show it.&quot; Avoid saying something is &quot;unique&quot; or &quot;the best.&quot; Instead, show how people will benefit — i.e. save time, save money, make their life easier, etc. Be specific and detailed Marcia Yudkin, author of Six Steps to Free Publicity calls this the &quot;Yes, but what IS it?&quot; syndrome. The reader needs to be able to visualize a new product, or know how a new service works. If in doubt, have someone unfamiliar with your product or service read the release and ask them to describe what you are trying to publicize. And it's better to use too many details than too few. So, as Yudkin notes, &quot;Instead of 'Jackson's new book contains information designed to benefit any stock market investor,' write, 'Jackson's new book contains seven principles of market analysis that enable even casual investors to choose profitable stocks.' Even better, describe two of the seven principles right in the release.&quot; Proofread When you've finished your press release, remember to proofread it for typographical errors. If you don't have a good eye for spelling or grammar, give the release to a friend or colleague who does. If your release looks sloppy and careless, so will you. The previous content is provided by OPEN: The Small Business Network SM from American Express
Legal & Insurance Articles Legal & Insurance Articles About... Incorporation Insurance Leases Legal Trademarks, copyrights, and patents Incorporation Back to top FAQs; Incorporation Incorporating Your Business Insurance Back to top Cutting Workers Comp Costs — Not Just a Dream Home Office Insurance: Myths and Realities Insurance for Home-Based Businesses Workers' Compensation Leases Back to top Choose the Right Spot for Your Business Leasing Office Space Negotiating a Lease Legal Back to top Avoiding Partnership Problems Common Legal Mistakes to Avoid Consumer Protection How to Choose and Work with an Attorney Is Litigation Right for You? Office Party Liability Privacy Officer? Think HIPAA Protecting Your Patients' Privacy Selecting a Business Attorney Selling an Idea Software Piracy and the Law Understanding Legal Fees and Costs Writing a Partnership Agreement Trademarks, copyrights, and patents Back to top Copyright Basics Guarding Your Intellectual Property Trade Secrets Trademarks What is a Patent? Work Creations: Who Owns Them?
Money Management Articles Money Management Articles About... Budgeting Collections Credit History and Rating Loans and Financial Planning Payroll and Credit Card Processing Start-Up Business Resources Survival Strategies Taxation Budgeting Back to top Budget-Conscious Gift-Giving Creating a Holiday Budget Quick Ways to Get Through a Cash Crunch Collections Back to top 10 Steps to Effective Collections Avoid Deliquent Accounts How to Choose a Collection Agency Credit History and Rating Back to top How to Handle a Potential Client with Bad Credit How to Protect and Improve Your Business Credit Rating Is Your Credit History Hurting You? Protecting Your Business Against Credit Card Fraud Loans and Financial Planning Back to top Attacking Business Debt Business Startup Calculator Finding the Money Landing a Business Loan Landing a Microloan Managing Debt Projecting Cash Flow Ten Tips for Improving Your Cash Flow When Not to Borrow Payroll and Credit Card Processing Back to top Economical Employee Awards Merchant Account Processing Protecting Your Business Against Credit Card Fraud Why it Pays to Outsource Payroll Start-Up Business Resources Back to top Business Plan Basics Developing a Business Idea Resources for Women-Owned Businesses The Small Business Administration: A Valuable Tool Survival Strategies Back to top Be Smart About Accepting Checks Be Smart About Accepting Checks Column by Steve Strauss You need to accept checks to conduct business, but if you accept one that bounces, it can cut into your profits. How can you avoid bad checks? Follow these five rules, and bad checks should be a very rare occurrence. Rule No. 1: Be aware With desktop–publishing software, laser printers, and scanners, it is far easier for people to alter, forge or duplicate checks than ever before. Evaluate a check you receive carefully. Smudge or erasure marks are a red flag. Smooth edges are another; real checks are perforated either on the top or left side of the check. Rule No. 2: Do not accept new checks A large majority of bad checks are written on new accounts. Do not accept &quot;starter&quot; checks — the temporary checks that a bank issues to customers before their printed checks are ready. It's always a good policy not to accept any check that does not have the customer's name preprinted on it. Rule No. 3: Get identification When accepting a check, always ask to see a photo ID, such as the customer's driver's license or identification card. Make sure to check their physical characteristics and signature against the ID. Ask for the customer's home and work telephone numbers, so you can contact him in case the check does bounce. Rule No. 4: Wait before refunding money Establish a waiting period for refunds. You can be burned when a customer makes a purchase by check and then returns the merchandise the next day for a cash refund. If the check bounces, you are out the cash paid for the refund. To avoid this scenario, require a five–business–day waiting period to allow checks to clear before cash refunds are paid. Rule No. 5: Call in the pros You might benefit from the services of a check–verification company. By paying a monthly fee of about $50, you can tap into a database of individuals who write bad, stolen or forged checks. Remember this too: If you do receive a bad check, the bank allows you a second attempt to deposit it. After that, the responsibility for collecting the money is yours. Contact the customer and explain the problem calmly. Most people clear up bad checks fairly promptly. If the customer refuses to pay, hold on to the check for a while and call the bank periodically to see if there are funds in the account to cover it. If so, cash the check immediately. If the funds never seem to become available, then another option is to go to the police. Many localities have a bad check unit as part of the local police or District Attorney. One call from them may just do the trick. A final option would be to sue in small claims court. The filing fee is low (usually around $50), and the procedure is expedited and simple. A month or two after suing and you will have a judgment that can be enforced by an earnings levy, a bank levy, or a real estate lien. How to Recover from a Disaster How to Recover from a Disaster The actions you take can determine whether you stay in business. Column by Barbara Weltman Disasters, whether it’s a hurricane or fire, are devastating events — both emotionally and financially — that are not easily overcome. Don't expect that things will ever get back to normal; they rarely do following a major disaster, according to the Public Entity Risk Institute. But you can take the following steps to see that your business continues to operate. Execute your business continuity plan If you've anticipated a possible disaster by creating a disaster continuity plan, now is the time to put your plan into action (hopefully you have a copy of the written plan offsite that you can access). Assess your options. Don't assume that re–opening your business is the only option. As difficult as the decision may be, you may prefer to simply close up shop and start over at another time or at another location, retire or work for someone else rather than sinking money into an enterprise that may not succeed in the long run. This decision is based on your personal situation (e.g., your age, the pre–disaster health of your business) as well as what may have happened to your customers as a result of the disaster. The New York Times recently reported that Ruth's Chris Steakhouse, the popular restaurant chain, decided to relocate its headquarters from New Orleans to Orlando, FL after concluding there were too many challenges facing the company if it stayed in Louisiana. Idea: Disaster can be a life–changing event. Take time to make the right decision about your future based on rational information rather than emotion. Senior executives at Ruth's Chris Steakhouse met soon after the levees broke and explored all options before a final decision was made. Re–open your doors. If you want to stay in business, clean up your existing space or, if necessary, find an alternative location at least temporarily. Recover your computer data from off–site storage facilities. Contact staff to alert them to time and/or location changes for your business. Make insurance claims. Contact your insurance company immediately. It will assist you in submitting a claim for damages. Where necessary, submit claims for property damage to pay for repairs as well as claims under a business interruption policy to obtain money to pay expenses, such as rent at an alternative site. Handle your stress. Don't underestimate the personal toll that a disaster can take on you and your staff. Recognize the problem and, if necessary, seek professional help. Interim actions If you do not have a business continuity plan and disaster strikes, take immediate action to continue your business activities. Safety. Check the conditions of your facilities to make sure they are safe for your staff and customers before re–commencing operations. Where necessary, have a building inspector look things over. If there are safety concerns that cannot be remedied immediately, seek an alternative place to operate temporarily. Assess damages. In order to submit an insurance claim or seek government loans or assistance, you need to document your losses. Create a checklist of the damages you’ve sustained, including loss of inventory, equipment, etc. Clean up. In most cases, damage from storms and fires may be readily cleaned up. Use a professional cleaning service (the cost may be covered by your insurance). Restore services. In order to operate from your usual location, make sure that power and phone service is restored. Where applicable, also see that sprinkler systems are operational. Make repairs. Temporary repairs can be sufficient to put you back in operation if all that is needed is a new window or a patch in the roof. Check tax filing extensions. The IRS may grant additional time to file certain returns; no extensions are possible for information returns (e.g., Forms 1099). It can also waive interest and penalties on income taxes, but not on payroll taxes. To learn about federal tax relief, go to www.irs.gov and click on &quot;The Newsroom.&quot; The IRS has posted several news releases specifically related to Hurricane Katrina that are good sources of information for Gulf coast businesses impacted by the storm. Long-term actions Where damage is substantial and insurance does not adequately cover your loss, you may require additional funding to restore your business to its pre–disaster condition. The American Red Cross and other private organizations usually do not provide assistance to small businesses, but government agencies may help. Obtain an SBA loan. The Small Business Administration provides two types of assistance: Physical disaster loans to repair or replace damaged property, including inventory, machinery and equipment. Funds cannot be used to expand or upgrade a business unless state or local authorities require such changes. Keep detailed records of how funds are spent. The maximum loan is $1.5 million, which includes debris removal. Loans of $10,000 do not require collateral; larger loans do. Approval is usually given within one to three weeks of your application. Economic injury disaster loans to provide capital when a disaster renders a business unable to meet its obligations, and to pay its ordinary and necessary operating expenses, regardless of any physical damage. To apply for an SBA disaster loan, go to www.sba.gov and click on &quot;Disaster Recovery.&quot; FEMA assistance. While the Federal Emergency Management Agency (FEMA) has come under criticism of late, it does offer assistance to businesses trying to recoup after a disaster. If your losses occurred in a federally–declared disaster area, you may be eligible for help — check FEMA's Web site, www.fema.gov, for the latest information. The SBA is the main source of disaster recovery funding, but FEMA can direct you to other resources to supplement your insurance recovery and SBA assistance. Review insurance coverage. How well did your existing policies protect you? Where necessary adjust your coverage for greater protection against future disaster. Create a new disaster recovery plan. Lightning usually doesn’t strike twice in the same place, but just in case it does, be prepared. Facts on disasters and small business Almost 10% of small business bankruptcies result from disasters and other calamities (U.S. Small Business Contract #SBA–95–0403 Paper, Financial Difficulties of Small Businesses and Reasons for Their Failure). 38% of small businesses have a disaster preparedness plan (NFIB Poll). 30% of small businesses have been forced to shut their doors at least temporarily within the past three years because of a disaster (NFIB Poll). 40% of small businesses never reopen following a flood, tornado, earthquake or other disaster (American Red Cross). Barbara Weltman is a nationally recognized small business authority. A top–selling author, she has appeared in many prestigious media outlets including The Wall Street Journal, Entrepreneur, Inc.com, CNN, CNBC, Bloomberg TV and WNBC–TV. Ms. Weltman is a columnist for Staples.com and the Hudson Valley Business Journal and is a regular contributor to Boardroom's Bottom Line/Personal. She is the publisher/editor of &quot;Barbara Weltman's Big Ideas for Small Business®,&quot; a newsletter on issues and trends that concern entrepreneurs. Ms. Weltman's Web site is www.barbaraweltman.com.
Transcript of "Election may 14 2013 30 minute business plan june 11 2012 office suite x"
Elect P. Anna PaddonPAZ-Paddon Development Email: email@example.com 30-Minute Business Plan Crofton-Cowichan BC Election May 14 2013ConstitutionTunnel@live.ca
If you don’t know where you are going, any road will take you there
We Need A Game Plan & Plan of Action Volunteer Plan of Action Your Services and Time To Elect P. Anna Paddon Your MLA For Cowichan-Crofton & District.Goals Specific: BCElection Office May 14 2013Measurable: Collect 75 RegisteredCowichan Residents NominationsTime Oriented: CanvasCowichan Residents and Industry for ElectionSupport MLA & Strait of Georgia Crossing Tunnel& Island. Constitution Tunnel, Constitution Island, & Constitution Tunnel Tribal Island Midway Station andRenewable Sustainable Energy Corporation.
Plan of Action Plan ofofAction Four Core Processes Budget Preparation. Pre - Post BC Provincial Election May 14 2013GoalsSpecific: Annual Recurring Expenses.Measurable: Corporations Energy TransportationTime Oriented: Strait of Georgia Crossing TunnelFormulating expenditure policies.Allocating resources in conformity with both policies and fiscal targets.This is the main objective of the core processes of budget preparation.Addressing operational efficiency and performance issues.Setting up the fiscal targets and the level of expenditures compatible with these targets is the objective of preparing this macro- economic framework.
Plan of Action 3.1 Provincial and Territorial Registration You will likely have to register your corporation in any province or territory where you carry on business. Registration is different from incorporation. A corporation may incorporate only once, but it may register to carry on business in any number of jurisdictions. Carrying on business in a province or territory can mean running a business there; having an address, a post office box or phone number there; or offering services or products there in order to make a profit. Provinces and territories often require corporations to register within a few weeks after incorporation. You may have to pay a fee for registration.StrategiesLong –Term2-3 yearsShort-TermNext 12 months: Annual MonthlyRecurring Expenses:. Office:Services Business Office SuppliesEquipment; Information Technology,Marketing, .
Plan of ActionBaseline⇔ Plans For TransportationBaseline⇔ Plan For Education Univ. 200 Level No TuitionBaseline⇔ Plans For Housing⇔ Urban Development⇔ Agricultural Preservation Measures Baseline Current Experience: College International Organization; United Nations Mini UN Participant; British Columbia Geography Industry, Town and City Building; Owner of Secondary School Student Business. Sales businesses: Regal, Welcome Wagon, Volunteer Fund-raising Area Managerial Mothers March, Canadian Cancer Society, Salvation Army Red shield Appeal, BC & Yukon Heart & Stroke Foundation, Canadian Kidney Foundation, Canadian Diabetes Assn.,
Plan of ActionMeasuresBaseline: Establish apreliminary transparentbaseline budgetdebits/expensessavings/credits for a oneyear plan and a five yearplan.
Plan of ActionMeasures ToEstablish Our GoalsMust Be Planned:BaselineTools in Place
Plan of ActionBudgetMoney: Salaries of permanent civilservants, the pensions to be paid to retirees, debtservice costs, and the like, are not variable in theshort termResourcesPeople:Process: An annual budget is too short for the purpose of adjusting expenditure priorities and uncertainties become too Costs can be adjusted, but great over the longer term. Often only marginally. The margin of manoeuvre is no more than 5 percent
Budget Plan of ActionMoney$100,000.00 Short Term 12 Month Estimate Expenditurefuture recurrent costs of capital expenditures;funding needs of entitlement programs (for example debt serviceand transfer payments) where expenditure levels may change,even though basic policy remains the same;Contingencies that may result in future spending requirements (forexample government loan guaranteesAnnual Budgeting Under Constrained CircumstancesRapid spending adjustments reflect changing circumstances willtend to be across-the-board ad hoc, focused on inputs andactivities that can be cut in the short term, . not policy-based, theywill not be sustained. (important public investment expenditures,residual public investment.)Annual budgeting, and planning sectoral policies and budgetallocations are weak. When necessary resources announcedresults in policy, but budget allocation short fails.
Budget Plan of Action Resources People: Sprott-Shaw Students EMPLOYEE RECRUITS, PT Students. Oceanview 203-335 Wesley Nanaimo BC Canada 250-824-5000, Office space equipped, annual lease, and serviced. A..M. Dryden, Financial Planner, 680 Terminal Ave. Nanaimo, BC Canada, V9S-4K2. 250-716-7000, 1-877-716-7767 Process Limited scope of multi - year expenditures estimates to the cost of existing programs, 60% of the budget must be available new investment as loan down payment for realty/asset purchase, programs:es+processes+and+people+&qs=n&form=QBRE&pq=budget%2520resources%2520processes%2520a
Plan of ActionAccountabilityWho: Independent ?WhenDeadline The BC ProvincialElection May 14 2013 Is APotential Date. We MustProduce A District Action PlanWith The Other ElectoralDistricts.Cowichan Economic Action Plan
Plan of ActionCorporate financeWorking capital AccountabilityCash conversion cycleReturn on capitalEconomic Value AddedJust-in-time WhoEconomic order quantityDiscounts and allowancesFactoring WhenCapital budgetingCapital investment decisionsThe investment decision DeadlineThe financing decisionSectionsManagerial financeFinancial accountingManagement accountingMergers and acquisitionsBalance sheet analysisBusiness planCorporate actionSocietal componentsFinancial marketFinancial market participantsCorporate financePersonal financePublic financeBanks and bankingFinancial regulationClawback
Plan of ActionAccountabilitycapital expenditures are amounts spent on:acquiring fixed, and in some cases, intangible assetsrepairing an existing asset so as to improve its usefullifeupgrading an existing asset if its results in a superiorfixturepreparing an asset to be used in businessrestoring property or adapting it to a new or differentusestarting or acquiring a new businessAn ongoing question for the accounting of anycompany is whether certain expenses should becapitalized or expensed. Costs which are expensedin a particular month simply appear on thefinancial statement as a cost incurred that month.Costs that are capitalized, however, are amortized ordepreciated over multiple years. Capitalizedexpenditures show up on the balance sheet. Mostordinary business expenses are clearly eitherexpensable or capitalizable, but some expensescould be treated either way, according to thepreference of the company. Capitalized interest ifapplicable is also spread out over the life of theasset.The counterpart of capital expenditure isoperational expenditure ("OpEx").
30 Minute PlanGoal StrategyIncrease ElectoralSponsors internet Googlesales by 20% next 3 AdWordmonths Campaign Optimize web site Free Shipping on orders over $50 Post weekly blog
P. Anna Paddon Strait of Georgia Strategic Plan Elect P. Anna Paddon PAZ-Paddon Development Email: ConstitutionTunnel@live.ca 30-Minute Business PlanGoal Strategy MeasureIncrease ElectoralSponsors internet Google Google Clicksales by 20% next AdWord throughs3 months Campaign Optimize web Google page site rank www.googlepagerankc hecker.com Free Shipping on Sales >$50 orders over $50 compared to last month Post weekly blog 1 on blog, 1 other blog sites
P. Anna Paddon Strait of Georgia Strategic Plan Elect P. Anna Paddon PAZ-Paddon Development Email: ConstitutionTunnel@live.ca 30-Minute Business PlanGoal Strategy Measure BudgetIncrease ElectoralSponsors internet Google Google Click Registrarsales by 20% next AdWord throughs $250.003 months Campaign Optimize web Google page $500 site rank www.googlepagerankc hecker.com Free Sales >$50 $650 Shipping on compared to orders over last month $50 Post weekly 1 on blog, 1 other $0 blog sites blog
P. Anna Paddon Strait of Georgia Strategic Plan Elect P. Anna Paddon PAZ-Paddon Development Email: ConstitutionTunnel@live.ca 30-Minute Business PlanGoal Strategy Measure Budget AccountableIncrease Electoral Google Google Click $150 Me – MondaySponsors internetsales by 20% next AdWord throughs each week3 months Campaign Optimize web Google page $500 Me - Friday site rank www.googlepagerankc hecker.com Free Shipping Sales >$50 $650 Check 1st and 3rd on orders compared to Monday over $50 last month Post weekly blog 1 on blog, 1 other $0 Me - Monday blog sites
P. Anna Paddon Strait of Georgia Strategic Plan Elect P. Anna Paddon PAZ-Paddon Development Email: ConstitutionTunnel@live.caGoal Strategy Measure 30-Minute Business Plan Budget AccountableIncrease Electoral Google Google Click $150 Me – MondaySponsors internetsales by 20% next AdWord throughs each week3 months Campaign Optimize web Google page $500 Me - Friday site rank www.googlepagerankch ecker.com Free Sales >$50 $650 Check 1st and 3rd Shipping on compared to Monday orders over last month $50 Post weekly 1 on blog, 1 $0 Me - Monday blog other blog sites
P. Anna Paddon Strait of Georgia Strategic Plan Elect P. Anna Paddon PAZ-Paddon Development Email: ConstitutionTunnel@live.ca 30-Minute Business PlanGoal Strategy Measure AccountableThe general public and Short-term: BC Election Volunteers Short-term: Short-term: Province Electoralespecially clients will Plan of Action, Fundraisers. Consistently high scores District Public.recognize and Provide excellent customer across the province: service. Consultants’ min. goal of Client Satisfaction Scoresexperience the Strait of produced quarterly. Ensure that employee skill sets 90% top two box scoreGeorgia Economic match evolving customer for “overall,” “use again,” Professional development toDevelopment Network as expectations and the dynamic and “would recommend.” be initiated throughout thethe absolute best operating environment through Intended professional year.resource for Strait of annual training, updating of new development should beGeorgia entrepreneurs employees’ required skill sets, and noted in work plans (with Timelines will vary fromwho are serious about open communication throughout budgets). Record project to project, but will begrowing their businesses the organization. Professional tracked on Quickbase. Offer unique, contemporary, Development in CIS Client success stories dueand planning urban and valued-added services consistently quarterlyeconomic development . across offices & divisions (e.g.,Every Electoral Service, consistent descriptions andVolunteer, and employee pricing)..is responsible for Promote client success stories.delivering consistently
“It’s a socialist idea that making profits is a vice;I consider the real vice is making losses.” Elect P. Anna Paddon MLA Cowichan-Crofton - Winston Churchill PAZ-Paddon Development Email: ConstitutionTunnel@live.ca 30-Minute Business Plan Crofton-Cowichan BC Election May 14 2013 ConstitutionTunnel@live.ca
Elect P. Drew Tonsmeire MLA Anna Paddon Business Consultant Crofton-Cowichan Kennesaw State University SBDC PAZ-Paddon Development Member of the Georgia SBDC NetworkEmail: ConstitutionTunnel@live.ca 30-Minute Business Plan Thank you Drew Tonsmeir From P. Anna Paddon PAZ-Paddon Development Email: ConstitutionTunnel@live.ca 30-Minute Business Plan Crofton-Cowichan 770/423-6450 www.sbdc.kennesaw.edu BC Election May 14 2013 www.georgiasbdc.org ConstitutionTunnel@live.ca
A particular slide catching your eye?
Clipping is a handy way to collect important slides you want to go back to later.