Let's talk business - Business Basics

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Business 101

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Let's talk business - Business Basics

  1. 1. LET’S TALK BUSINESS WITH ADENIYI ADEBOLA ATIBA
  2. 2. OPENING FORMALITIES
  3. 3. Adeniyi Adebola Atiba C.E.O./Principal Consultant , The Potter’s Touch Services
  4. 4. OBJECTIVES •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
  5. 5. BUSINESS WRITING 101 HOW TO WRITE A WINNING BUSINESS PLAN
  6. 6. Thinking about starting a business? What is a Business Plan? 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.
  7. 7. 1. An executive summary outlining goals and objectives. THE EXECUTIVE SUMMARY INTRODUCES YOUR BUSINESS STRATEGY AND PROBABLY IS THE MOST IMPORTANT SECTION FOR LENDING INSTITUTIONS.
  8. 8. 2. A brief account of how the company began. 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.
  9. 9. 3. Your company's goals. EXPLAIN IN A FEW PARAGRAPHS YOUR SHORT- AND LONG-TERM GOALS FOR THE COMPANY.
  10. 10. 4. Biographies of the management team. THE MANAGEMENT SECTION SHOULD INCLUDE THE NAMES AND BACKGROUNDS OF LEAD MEMBERS OF THE MANAGEMENT TEAM AND THEIR RESPECTIVE RESPONSIBILITIES.
  11. 11. 5. The service or product you plan to offer. A KEY ASPECT OF THIS SECTION WILL BE A DISCUSSION OF HOW YOUR PRODUCT OR SERVICE DIFFERS FROM EVERYTHING ELSE ON THE MARKET.
  12. 12. 6. The market potential for your service or product. REMEMBER THAT YOU'VE GOT TO CONVINCE LENDERS, EMPLOYEES AND OTHERS THAT THE MARKET YOU'RE AFTER IS RELATIVELY LARGE AND GROWING.
  13. 13. 7. A marketing strategy. HOW DO YOU PLAN TO TELL THE WORLD YOU'RE OPEN FOR BUSINESS?
  14. 14. 8. A three- to five-year financial projection. 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.
  15. 15. 9. An Exit Strategy. ALL GOOD BUSINESS PLANS INCLUDE A SECTION THAT LAYS OUT THE BENCHMARKS YOU'LL USE IN DECIDING TO CALL IT QUITS.
  16. 16. Class Activity
  17. 17. Raising funds for your business Small business finance options without going to the bank
  18. 18. Writing an effective business proposal QUICK STEPS
  19. 19. What is a 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.
  20. 20. Before Writing the Proposal Know your intended client well Make sure that your clients need exactly what you are offering Think of ways to establish your credibility Make sure you showcase examples of your expertise
  21. 21. The Proposal Writing Process
  22. 22. Sales Proposal Format
  23. 23. 1. company introduction and competitive advantages. 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:_____.
  24. 24. 2. Identification of buyers’ needs and your solution 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:____.
  25. 25. 3. Implementation plan and budget. 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:____.
  26. 26. In Conclusion 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.
  27. 27. 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.
  28. 28. 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.
  29. 29. 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.
  30. 30. How to improve your business
  31. 31. 1st lesson to be learnt in business SALES = PROFIT MORE SALES TRANSLATES TO MORE PROFIT!
  32. 32. ?????? 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?
  33. 33. Answer 1.LEVERAGE ON YOUR EXISTING CLIENTELE. 2.GET MORE FAMILY MEMBERS.
  34. 34. To improve and grow your business you will need to: •IMPROVE •INSPIRE •INNOVATE
  35. 35. Last words SUCCESS IS INTENTIONAL, IT IS A COMBINATION OF GENIUS AND HARD WORK
  36. 36. The Potter’s Touch Services Mission To produce and offer business, career, finance and personal development products and services that empower the individual man to succeed and achieve the life of their dreams. Vision To be part of the 1st 10% Human Resource Capacity Development Firms in the World
  37. 37. Our Products Outperform – live an outstanding life!!! On Business – practical information to help you outperform in your business. Up your Rep - The number one secret to getting hired 100% of the time. 30 plus business that can make you rich in 2013 10 Winning Habits of Successful Business persons – free report
  38. 38. Our Services Real estate Professional Writing Services Trainings Coaching/Mentoring Research Consulting Investments
  39. 39. Events for 2013 Outperform summit School of Outperformance
  40. 40. QUESTIONS?
  41. 41. Thank You for Your Time Here’s to your All round Success!!!

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