Matrix http://www.mscmatrix.com Thu, 11 Mar 2010 17:31:11 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 how do i work out income and expenditure forecast for the next year when starting a new business? http://www.mscmatrix.com/starting-a-business/how-do-i-work-out-income-and-expenditure-forecast-for-the-next-year-when-starting-a-new-business http://www.mscmatrix.com/starting-a-business/how-do-i-work-out-income-and-expenditure-forecast-for-the-next-year-when-starting-a-new-business#comments Thu, 11 Mar 2010 17:31:11 +0000 admin http://www.mscmatrix.com/starting-a-business/how-do-i-work-out-income-and-expenditure-forecast-for-the-next-year-when-starting-a-new-business we have no idea how much money we will make or lose over the next year – can you help?

I suggest you start with a business plan to make sure you have thought of the major items which are relevant to starting your biz. You can find excellent resources for this on the Small Business Administration website: www.sba.gov

]]> http://www.mscmatrix.com/starting-a-business/how-do-i-work-out-income-and-expenditure-forecast-for-the-next-year-when-starting-a-new-business/feed 1 who are the best uk suppliers to start business with? http://www.mscmatrix.com/start-a-business/who-are-the-best-uk-suppliers-to-start-business-with http://www.mscmatrix.com/start-a-business/who-are-the-best-uk-suppliers-to-start-business-with#comments Thu, 11 Mar 2010 17:31:08 +0000 admin http://www.mscmatrix.com/start-a-business/who-are-the-best-uk-suppliers-to-start-business-with I am about to open up my own hypnotherapy centre. I will provide therapy but also run a gift shop. I intend to sell buddha ornaments, healing crystals, candles, windchimes etc. any ideas on who would be the best supplier to start with? i have found pukator to be reasonably priced but would like more to compare to.

You can search for the product from http://www.hellotrade.com and get the list of suppliers with contact details. You can also send direct query to any supplier from this B2B website.

]]> http://www.mscmatrix.com/start-a-business/who-are-the-best-uk-suppliers-to-start-business-with/feed 1 Can you get a new startup business grant or loan? http://www.mscmatrix.com/business-startup/can-you-get-a-new-startup-business-grant-or-loan http://www.mscmatrix.com/business-startup/can-you-get-a-new-startup-business-grant-or-loan#comments Thu, 11 Mar 2010 17:31:00 +0000 admin http://www.mscmatrix.com/business-startup/can-you-get-a-new-startup-business-grant-or-loan If anyone has please tell me about your experience and what you did, thanks alot.

If you are a for-profit, you may be eligible for a loan. A non-profit, you may be eligible for a grant. Historically for-profit businesses are not considered for grants because of their ability to make money and repay loans. You should seek out local angels. These men and women not only provide finance but may also provide expert assistance.

I recommend that you go to your local SCORE or SBDC counselor. These men and women are experts in providing assistance with your small business.

]]> http://www.mscmatrix.com/business-startup/can-you-get-a-new-startup-business-grant-or-loan/feed 3 What are the pro and cons of starting a business from scratch; buying an existing one and buying a franchise? http://www.mscmatrix.com/starting-business/what-are-the-pro-and-cons-of-starting-a-business-from-scratch-buying-an-existing-one-and-buying-a-franchise http://www.mscmatrix.com/starting-business/what-are-the-pro-and-cons-of-starting-a-business-from-scratch-buying-an-existing-one-and-buying-a-franchise#comments Thu, 11 Mar 2010 17:30:53 +0000 admin http://www.mscmatrix.com/starting-business/what-are-the-pro-and-cons-of-starting-a-business-from-scratch-buying-an-existing-one-and-buying-a-franchise What are the pro and cons of starting a business from scratch; buying an existing business; and buying a franchise?

There are certain elements for each that could be considered a pro or a con – depending on how you want to look at it. However, I will list them as I see them.
Franchise Pro:
- The business structure is thought out and setup for you. This allows you to concentrate on the running of the business, rather than figuring out all the policies and procedures. This includes store policies, procedures, products to sell, merchandising, marketing, uniforms, store layout, staff training tools and wage agreements.
- Regardless of whether you start a new one or buy an existing one you will receive support and assistance rom the franchise head office.
- Franchises are easier to resell later down the track if you decide to because they are well known and potential buyers are more trusting of them.
- Whether you start a new one or buy one a loyal customer base should already be established due to recognition and previous experiences from other locations of your chosen franchise.
- Raw materials/products are often available at better prices because your head office will have already done the organising and bargaining with suppliers/wholesalers. Also, there is more likely a chance to have items offered exclusively to you so other businesses in your area will not necessarily be able to compete with price and/or product.
- If you hire staff who have worked in other stores of your franchise they could bring added experience and will lower time-out for training purposes because they already know the routine and what is expected.
Franchise Cons:
- The business structure and procedures are thought out for you. This will allow little room for your own input into how your business runs. This can be great if you want an easier business option and want to run your business as if you are more the manager than the owner, however if you want to really run a business as your own you may find this hinders you quite a bit.
- Franchise Fees. These will vary in amount depending on the franchise you choose and will include a joining fee as well as monthly fees. You will have to make sure your business can sustain this additional cost as well as all the other overheads.
- If you hire staff who have worked in other stores of your franchise they could bring over bad work practices and have a lower work ethic because to them "it is all the same", not something that they feel inspired to make work for you.
- You will have multiple competitors, that is other stores of your franchise if they are not too far away.
- If starting a new franchise a huge starting up expense will be involved, more so than opening your own business as everything has to be "just so" from the day you open.In your own business you might find that small things might do for the time being – such as uniforms could be simple until you start making some money. This can also be a good thing as you won’t have to change anything or remember to keep money aside for upgrading anything specific at a later date.

Buying an existing business will leave you susceptible to many things both good and bad – eg. existing location and reputation. Also, you may have to continue to honour deals made by the previous owners to certain customers that you may not agree with, and not necessarily know whether they are correct or if the customer is trying it on. However, if you refuse to continue with these deals you may lose a lot of regular business. These deals can be good because the customer may spend a substantial amount at your business and continue to do so once you take over.

Well, this is the longest answer I have ever given. I think I will leave it at that for now and I am sure you will be able to figure out the pros and cons of starting up your own business by considering some of the things I have mentioned here.

]]> http://www.mscmatrix.com/starting-business/what-are-the-pro-and-cons-of-starting-a-business-from-scratch-buying-an-existing-one-and-buying-a-franchise/feed 6 How do i write a business /marketing plan for a master distribution business? http://www.mscmatrix.com/business-plan/how-do-i-write-a-business-marketing-plan-for-a-master-distribution-business http://www.mscmatrix.com/business-plan/how-do-i-write-a-business-marketing-plan-for-a-master-distribution-business#comments Thu, 11 Mar 2010 17:30:34 +0000 admin http://www.mscmatrix.com/business-plan/how-do-i-write-a-business-marketing-plan-for-a-master-distribution-business I have been asked by a company who are looking for a master distributor to send a 3 year plan on how i plan to sell the products which are electronic gadgets and would be imported to the UK. I truly have very little experience in business but still determined to try.
The market demand is there but i don’t know where to start the business plan from. Plenty help needed and appreciated please. Many thanks!

Distribution in marketing is very important, without this how would the product ever make it to the end user? Just think of it in this sense. For Europe, distribution is much more complex then it is here in the states due to language barriers and the currency exchanges.
To begin with, they are going to want to know which countries you are planning on selling them in, within the European union only? Or throughout all of Europe? Once you have decided on the countries, you bring it down another level on location, do you want to sell them in every town? Or are you aiming for the big hustle and bustle cities like London, Dublin, Rome, Madrid, etc.

Once you know those specifics, they’re going to want to know what type of retail stores you are going to want to place their product, if in a retail store at all, do you plan on selling through a website? Forcygr retail shops, you want to think about convenience stores, specialty electronic shops that are their own stand alone buildings, or a chain retail store (from here you can also think of if you want to sell them in malls or shopping centers).

Still keeping along with me?

Once you have decided on which stores you want to sell it in, they are going to want to know where in the stores you want to place their product, by the doorway, on shelves, near which type of products, and then what shelf is also very important because each shelf level costs a different price.

Now the big part, which might be the main part you are looking for, once you have the product sold to the store you need to get it there! This is where you have to map out the process from the factories to the stores loading docks. Do you have to fly them over seas? Ship them by train? Drive them by delivery trucks? Which routes they’ll take, and so on, all again depending on where you choose the product is going.

If you follow this it should give you a pretty good idea on the distribution letter your looking for, good luck with the research and with the profession!

If you have any other questions feel free to drop me a line and ill do what I can to help you out!

]]> http://www.mscmatrix.com/business-plan/how-do-i-write-a-business-marketing-plan-for-a-master-distribution-business/feed 1 Can you suggest for a site where I can find out name for my new starting business of Construction? http://www.mscmatrix.com/starting-a-business/can-you-suggest-for-a-site-where-i-can-find-out-name-for-my-new-starting-business-of-construction http://www.mscmatrix.com/starting-a-business/can-you-suggest-for-a-site-where-i-can-find-out-name-for-my-new-starting-business-of-construction#comments Tue, 09 Mar 2010 14:30:49 +0000 admin http://www.mscmatrix.com/starting-a-business/can-you-suggest-for-a-site-where-i-can-find-out-name-for-my-new-starting-business-of-construction
How about ‘Archana Construction’

]]> http://www.mscmatrix.com/starting-a-business/can-you-suggest-for-a-site-where-i-can-find-out-name-for-my-new-starting-business-of-construction/feed 3 What’s a small, quick-to-profit, easy-to-start business venture for a highschooler? http://www.mscmatrix.com/start-a-business/whats-a-small-quick-to-profit-easy-to-start-business-venture-for-a-highschooler http://www.mscmatrix.com/start-a-business/whats-a-small-quick-to-profit-easy-to-start-business-venture-for-a-highschooler#comments Tue, 09 Mar 2010 14:30:46 +0000 admin http://www.mscmatrix.com/start-a-business/whats-a-small-quick-to-profit-easy-to-start-business-venture-for-a-highschooler I saw a MSNBC special on teenage CEOs who start their own businesses when they were like 6. I’m a sophomore in high school and totally want to do that.

One thing to consider is that I’m completely broke. What’re some ideas?
Thanks Sweet N Sour.

And VileBill can suck a big one.

Set up an agreement with a girl, pay the hottest girl at your school(18 age min) 40% of all profits and legally take a few tasteful nude photos of her. Sell them.

Start a dog walking business.

Work an actual job and save up a decent amount of money, play the penny stocks till you go broke or hit it big.

]]> http://www.mscmatrix.com/start-a-business/whats-a-small-quick-to-profit-easy-to-start-business-venture-for-a-highschooler/feed 5 What would be a good name for my starting business and how should I get customers? http://www.mscmatrix.com/starting-business/what-would-be-a-good-name-for-my-starting-business-and-how-should-i-get-customers http://www.mscmatrix.com/starting-business/what-would-be-a-good-name-for-my-starting-business-and-how-should-i-get-customers#comments Tue, 09 Mar 2010 14:30:33 +0000 admin http://www.mscmatrix.com/starting-business/what-would-be-a-good-name-for-my-starting-business-and-how-should-i-get-customers I am going to start a business in my area for mowing lawns, weed and trash removal, and even putting in drip systems. I Would like to know what I should call this business and how I should pull in Customers. I’m 16.

use something with your name in it or you will have to deal with all kinds of stupid legal paperwork

John’s Landscaping Services or something simple like that

]]> http://www.mscmatrix.com/starting-business/what-would-be-a-good-name-for-my-starting-business-and-how-should-i-get-customers/feed 2 I need some help in Writing a business plan? http://www.mscmatrix.com/business-plan/i-need-some-help-in-writing-a-business-plan http://www.mscmatrix.com/business-plan/i-need-some-help-in-writing-a-business-plan#comments Tue, 09 Mar 2010 14:30:22 +0000 admin http://www.mscmatrix.com/business-plan/i-need-some-help-in-writing-a-business-plan I am planning in opening a Kennels where i stay,it is a perfect location and the plans are going through just now but there is a slight problem i haven’t written up a business plan and i think they might ask me for one soon so i was wondering if anyone had ever opened a Boarding Kennels business before and if you could they please give me some important pointers with writing a Business Plan as i know it is a pretty important thing if you want your business to be taken seriously and also be a success.

Before you write your business plan, please look at the steps below to assist you.
1- Think seriously about your business. Before putting any words or numbers on paper.
2- Research all facets of your business and research your competition even more intensely learn what your competition does, how they do it.
3- Prepare an executive summary. Try to keep this document to a maximum of one or two pages.
4- Describe your business. Note what you will be selling and to whom. State the profitability of the products or service you will be marketing.
5- Detail the major marketing aspects of your business.6- Clearly display your projected financial information. State the amount of money you need to accomplish your goals and where you hope to get it.
7- Carefully describe your management team ( even if it’s only you ) Note the cost of this management on an annual basis.
8- Decide whether your business plan needs more detail, pictures, graphs or other support material.
If you are seeking loans or investment of thousands of pounds, this is no time to save 500 pounds if a professional business plan export could make your plan irresistible to funding sources.

]]> http://www.mscmatrix.com/business-plan/i-need-some-help-in-writing-a-business-plan/feed 2 Has anybody done a business degree? How has that helped? http://www.mscmatrix.com/starting-a-business/has-anybody-done-a-business-degree-how-has-that-helped http://www.mscmatrix.com/starting-a-business/has-anybody-done-a-business-degree-how-has-that-helped#comments Sun, 07 Mar 2010 17:37:52 +0000 admin http://www.mscmatrix.com/starting-a-business/has-anybody-done-a-business-degree-how-has-that-helped Hi guys,

I’m starting a business degree in May and I would like to get the bigger picture – I want to know how getting a degree or a qualification in this subject has helped you and enhanced your career.

Experiences welcome.

Thanks.

If your business is B2B and your customers are all decision makers it would be very good – eye level.

B2C and low level staff members could be difficult.

Tell me more by mail

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