office/entrepreneurs/topics/business-planning

Magazines have played a large role in my life, so it’s sad to think that the print industry is dying… or is it?

The secret to a small business with the aims of dominating an industry are apparent when observing some of start ups that have gone on to revolutionize markets and profitability. These start ups all have three things in common: a vision, a business plan, and flexibility.

Every business has to plan for risk, and navigate their way through the extremes of the cavalier and the fearful. Learn how to face risk in your business with the greatest possibility of succeeding.

An extreme focus on maximizing revenue in the short term can end up hurting your company in the long-term. What are the most effective ways of cutting costs without killing innovation?

Here’s a challenge: Go to a trade show for any industry. Walk around until you find a booth in which the company doesn’t describe itself as innovative. If and when you discover one, stay there and order yourself a drink: You’re at the concessions stand.

How can you make sure your business plan fully encapsulates all the relevant information? The solution may be easier than you think. Think outside the box by drawing parts of your business plan. The results may surprise you.

How would it change your profit bottom line if your customers could make contactless payments? The easier it is for people to purchase from you, the more likely you are to become their go-to source. Learn other ways you can benefit from mobile commerce.

Who likes writing business plans? No one, really, because the content they must contain is vast and lengthy. Here, Bright Hub wants to make the whole process much easier for our readers in this collection of articles all focused on business plan writing tips with templates!

Although performance based budgeting (PBB) is harder to enact than line-item budgeting, it provides a better picture of what is accomplished rather than what is spent. This method of budgeting increases accountability and is used mostly in the public sector.

Both budgeting and forecasting are financial projections. Looking at the differences between forecasting and budgeting, forecasting is broad in scope and part of strategic planning whereas a budget is more specific and detailed, with expenditure heads specifically matched to sources of income.