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Small Business and Entrepreneurship
Small businesses are usually family- and privately-owned establishments with a limited number of employees. Starting a small business is a form of entrepreneurship. It is like turning a ‘problem’ into a ‘profit’ or a ‘need’ into a ‘demand’.
6,973 Questions
Does a cabinet maker and installer need license in California?
Yes they do in fact in California it's getting close to needing a license for breathing. Every business in California needs a business license obtained from the city hall in the city you are based out of. Most average about $100 you would also need liability insurance which is easy to obtain from a local commercial insurance broker. And last but not least if you are making and selling the woodcrafted items then you will need a seller's permit that allows you to charge sales tax to your client. Good luck to you it's not as hard as it sounds just very unfair.
No, not all the corporations engage in business planning. However, a business plan is an effective tool used by businesses to organize their goals and objectives into a coherent format.
A business plan should be written by (1) new business owners, (2) new business owners seeking outside financing for start-up, (3) existing business owners seeking outside financing for expansion, and (4) business owners who want to increase the success of their businesses.
But the fact is that many small, flourishing companies are operating with no written business plan. A review of the research on planning indicated that formal planning might be unnecessary for small, fast-growing companies.
What are differences between a Formal and Informal Business Planning?
Formal business planning:
Formal business planning is the process of developing a presentable plan with certain pieces that can be quantified, compared, and evaluated against other companies in similar fields. Formal business planning is the function of an entrepreneur that is looking for sources of finance or of a public corporation that is beholden to it's investors to keep them informed. In essence, formal business planning is a way for others to judge management effectiveness, or the merit of a possible investment.
A formal business plan can be between 60 to 100 pages in length depicting a convincing picture of success to angel investors or private equity firms. A formal business plan reveals to the investor that the entrepreneur has thoroughly and methodically through this process; thereby inspiring confidence in the entrepreneur's ability to reap profits.
When involved in formal planning. CEOs spend significantly more time on the same four business functions as informal planning (though the order is slightly different). The research also indicates that both informal and formal planning are vital and necessary for small business success. Knowing when and what to do in both areas of planning is essential.
Informal Business Planning:
An informal business plan can be done on the back of an envelope and is an approach typically used when the entrepreneur is not seeking funding from outside investors. It is not as detailed as the formal business planning as it takes into account the financial aspect and relies on the entrepreneur's intuition for the other categories of a business plan.
Informal business planning would apply more to smaller companies that finance themselves or use financing from close friends and family. Informal business planning could be smaller in scope. It may lack the all encompassing nature of a formal business plan and rather tend to look at specific functions instead of the entire enterprise. Informal plans are more fluid and not so much a forecast of intentions as goals to work toward or ideas for the future.
The research indicates that CEOs spend more time on informal planning than formal planning. When involved in informal planning, CEOs spend significantly more time on management, marketing, operations and finance than the other business functions.
What inspired you to apply with Urban Outfitters?
I want to have the experience to work in a clothing store
In formal organizations, informal organizations arise. Women will get together for lunch. The women will chat. Men will get together after work for beer. The men will swap stories.
In the formal organization when two women from different departments must work together, if there are two women from the lunch group in each department, they will feel at ease with each other. They will easily communicate with each other. They will not get confused as they communicate.
Likewise. The men who drank beer together will be at ease will communicating with each other.
When communication within an organization moves much more smoothly, the organization prospers.
Why would you need to apply the privacy laws when producing a document?
You apply privacy laws when producing documents for several reasons.
The first one happens simply because normal people do not want to be distracted when preparing documents. They want their documents well prepared and well written. I had to rewrite your question to put it into correct English. I can not write when I am distracted.
Second, people do not want other people to know what kind of documents they are preparing. Other people can not get involved and demand to be included in decisions.
Third, if you are preparing an affidavit, a lawsuit, or a will, and do not want some people to know about it until the appropriate time, you do not want word to leak out ahead of time. If your other documents are prepared in private, these will be as well.
How do you buy a spray foam rig?
If you are looking to buy a rig, there are companies that sell complete spray foam systems rigs. To answer the question of "How do you buy a spray foam rig?", your first step is contacting well known rig suppliers. Searching for "spray foam rig" or "spray foam systems" typically provide results for industry leading rig suppliers. Rig suppliers typically require a deposit on spray foam rigs. Make sure you choose a company that can assure you that your deposit will be well spent and your product will be delivered accurately and on time. Determine the best possible equipment to fill your rig with. Make sure you are using name brand name components. Graco Inc. sells Reactors that are the leader of the industry. The technology of a Graco Reactor surpasses any of that on the market. Remember, anyone can sell on a cheap price, but not everyone can sell a quality unit. Make sure you are buying from a supplier that will provide you training and technical service. Spray Foam Systems usually require about a one year learning curve. There is a lot that can go on with spray foam rigs and it cannot all be taught in a training class. Make sure you choose a supplier that assures you that technical support is available.
Purchasing a spray foam rig is a costly decision and a large number of questions need to be asked to be sure you are getting top value for your investment. I have put together a small list of questions that you should ask both yourself and your chosen supplier that will be building your spray foam rig. Don't get into buying a spray foam rig unless you are 100% confident that you are getting exactly what you want, need, and paid for as it will be the cornerstone to your business for many years to come.
- Does the rig appear professional and well designed?
- Does the rig have an H.I.T. refrigerated air dryer to cool air and prevent moisture in your air lines?
- Is the foam rig insulated?
- Is the spray foam rig at least 7'8" in height to allow easy pump removal and material handling?
- Does the spray foam rig have an all-inclusive source for warranty and support?
- Is the foam rig constructed with 8-inch double I-beams and support studs on 16-inch centers for rigid, lasting durability?
- Will you have a proper work and storage area in the new rig?
- Is the equipment in the rig secured and fastened down to withstand all driving conditions?
- Has the rig been engineered with properly rated, dual axle support for the handling of selected equipment and materials?
- Does the rig have a closeable hose door?
- Has the rig been designed and tested to ensure a safe and smooth tow?
- Do you have a breakaway brake equipped on the rig?
- Are the key equipment components on the rig manufactured by industry leaders?
- Does the spray foam rig have a ramp door for easy material access?
- Is the spray foam rig configured and built by the industry-leading distributor and service provider of foam and polyurea equipment?
Who are the stakeholders of a small business?
Stakeholders of any business are people affected by the decisions the particular business makes. It can be the owners, employees, customers, suppliers, people living in the area...
Why is franchising attractive to some people?
Franchising requires capital, not any development of know-how or a brand.
How do you draw a business plan?
First think about the kind of business you have in mind, find out about it in the fields if at all it exists. Do find out what their difficult and high times are then the best way to draw a business plan is by writing a proposal. There are many ways of doing that, you just need to know how its done and you could find that information on google and wikipedia.
How do you start a clearing and forwarding business?
how to find needed company for clearing & forwarding agent
How do you calculate opening stock on the basis of period?
for the first month/year, clo bal=purchase +direct expenses-sale,
so on each month clo stock = next month/year op stock.
Some of the emerging theories suggest that successful leaders adjust their leadership styles depending on the situations at hand. This is very important since every industry is changing every day with new advancing technology and challenging development. If employees see that the leaders of the business are willing to change, progress, encourage and reward, it encourages them to follow the examples set by leaders of establishments and businesses.
Does a business plan benefit the entrepreneur?
It does. It establishes the plan and overview of the business and helps the entrepreneur stay on the right track. It also serves as a tool that helps the business receive a loan.
What is the purpose of work environment?
Well, why wouldn't there be a purpose? It's a great type of work and your helping the earth at the same time!
Is affiliate marketing worth it?
It's definitely worth it - but it's by no means a "get rich quick" way of making money. It does require consistent work, and there is a bit of a learning curve involved. There are a TON of educational sites out there, and many tools that you can get for free. Unfortunately for the "newbie" they just don't know where to look.
That's the position I was in until I was referred to a site that offers education, support, tools, and much more.
Good luck in your online ventures if you choose to proceed!
How do entrepreneurs make money?
Entrepreneurs make money by identifying market needs and creating products or services that fulfill those needs, often through innovation or improvement. They can generate revenue by selling these offerings directly to consumers or businesses, charging for subscriptions, or leveraging advertising. Additionally, they may seek investment or funding to scale their operations, and some entrepreneurs also earn income through licensing, franchising, or partnerships. Ultimately, successful entrepreneurs combine strategic planning, marketing, and effective management to drive profits.
Why entrepreneurship is so important to your society?
Entrepreneurship is important beacause they organise, coordinate and manage all the other factors of production-land labour and capital, they take risk in aim of making a profit which is vital for a developing economy.
How can a entrepreneur use a business plan?
Your question should read, "How can an entrepreneur not use a business plan?" First, you are going to need a product to sell. It may be a service you do. It may be something you make. It may be something you purchase wholesale and sell retail. You must plan your time, rent, location, expenses, market, and potential customers. Is there a market? Can you make more money doing that rather than doing what you are now doing, can do, or flipping hamburgers at Mc Donald's? You start with a plan.
Next. What will it cost? Do you have money for start up costs and enough to survive until your business makes a profit? When it makes a profit, how much will you be able to pay yourself? Will you need help? What will it cost you for help? In this state workers comp fees can cost you thousands over and above salaries, unemployment likewise. If you manufacture a product, how can you get your supplies in and your finished product out the door within 10 days so that you can pay your invoice for your raw materials after the finished product is made and get the 2% discount? (Woolworth, a retailing millionaire made his first million selling his product at cost. he paid all his invoices 10 days after the merchandise came in and got the 2% discount.) Every penny helps.
Henry Ford squeezed every penny he could to put America (Canada and Mexico) on wheels. Sam Walton planned every step Wal-Mart took. He did it one step at a time.
What is the Difference between wage employment and entrepreneurial ventures?
the basic difference is wage employment is basically u work under some one and u receive the salary but where as self employment is u are the income earning owner of the activity u give salaries to people who are working under u
What are the Benefits of goal setting?
I just have a one word answer for you "Knowing". When you know you're going to achieve your goals you know you've succeeded. So why not know what it is you want and know that you can achieve. Yes it is that simple one word "Knowing".
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Goal setting is required within any good business to establish where you are in the sense of business and where you need to be to improve or achieve something (Goal).
When setting goals you will set up a "path" in the planning stage of how your going to achieve the goal, who will be involved, what everyones responsibilities are to aid you getting there. You will set a date (normally) against the goal so that you know WHEN you need to have achieved your aim. However, you will also set up review points between starting the path to achieve and actually achieve. These are used to make sure everyone is where they need to be and done what is required to get you tothe gaol point. If anything or anyone is causing a stoppage it is debated and actions put in place at review meetings to either remove an obsticle or work around it.
