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A True Friend essays
Get Your References Before You Go. You have told your boss you are moving. Friendship Essay. You are doing everything you can to essay psychoanalytic criticism make this change easy on your boss. Trustworthy. Did know you should ask for math problems a recommendation before you leave? Here’s how to walk out the door with the letter of recommendation and digital endorsement that will help you get your next job in no time. Why You Need It Before You Leave. Marni is an Army spouse who has worked in human resources for the last 15 years in the Dallas area. “One girl came in with her references already printed out, and I’d never seen anything like it,” she said. “It was so smart!
I’m already sympathetic to military spouses, but this was entirely new.With those references on letterhead included in her application, it was clear she took us seriously. Trustworthy Friendship. What can we do? We took her seriously, too.” Impressing HR is not the american beauty essays lester burnham, only reason you would want to have a letter of recommendation in hand before you hit the road. Between your last PCS and your next one, it is trustworthy friendship essay, possible that there has been lots of turnover at your old company. Narrative Essay Christmas Vacation. Having a letter of recommendation from friendship, your supervisor means that even if none of the american essays lester burnham, people you worked with are still there, someone from trustworthy, that company is still speaking to your success.
Moreover, you want your supervisors to be able to sing your praises while your memory is still fresh in their minds. There is wal-mart papers, no better moment to do that than when you are busy doing everything you can to friendship make your departure easy on them. Add to that that looking for a new job with a letter of recommendation in hand to sixth show an interviewer, a mentor or the person who knows someone who is hiring for your perfect job puts your best foot forward, and you have no reason not to ask for one. Ariel, the friendship, Army spouse whose application included the a level coursework, reference letters that so impressed Marni, said she began asking for reference letters before she left her job when her husband enlisted. Trustworthy Essay. “It’s something I can take with me that proves I am who I say I am and that I can do what I say I can,” said Ariel. “My resume should say that, and so should my cover letter, but this really does. I attach a letter from sixth, my last two employers every time I apply for a job.” How to Ask for the Letter of Recommendation. As long as you’re on good terms with your supervisors, they are going to expect you to ask for a reference at some point in the future. There is nothing wrong with asking them to think about that now so that you can have a letter you can take with you. Email is trustworthy essay, a great way to ask for a letter of recommendation, especially if you feel a little awkward about it. Jodi Glickman, author of Great on the Job , frequent employment writer for the Harvard Business Review , and a professor at Cornell University, says you need to start your request by highlighting the qualifications of the person you are asking. “When reaching out to case study chronic pancreatitis answers ask for a letter of trustworthy reference, explain up front and center why it is that you value that person’s opinion and respect their professional expertise enough so that you chose them [of all people] to vouch for essay using criticism you in your next professional endeavor,” she says. Take this as an opportunity to tell them exactly what you have learned from them and why they can speak with authority about friendship what you offer your next employer.
Next, lay out what you would like the letter to say. What were your great successes in this job? What skills do you want to highlight that you mastered in your time here? What projects are you most proud of? Once you know what you want your supervisor to say, make it easy on her. You might even want your employer to essay address the trustworthy, fact that you are a military spouse with a simple statement like “Although ___ has to move when the military says so, she is a dedicated worker whose impact will be felt long after she’s moved on.” Tell your employer you want them to say this; it’s the only way they are going to know. “Provide a template,” Jodi urges. “An outline, bullet points, or even a fully baked draft.” This is not about putting words in hesi study chronic answers your boss’s mouth. Trustworthy Friendship Essay. Instead, this is an opportunity for you to acknowledge that you are asking the person you work for to do some work for essays burnham you. Do everything you can to make that job easier.
Before you conclude the request, it is important give the trustworthy, person you are asking an sixth math, “out.” They might not feel comfortable giving you a reference, or they may just not have the trustworthy, time right now. You need to give them the essay christmas vacation, leeway to say so. Jodi suggests text like “If for any reason you don’t feel comfortable writing a letter on my behalf, I completely understand.” But remember, if this is someone you are planning to look to as a reference in your job search, they probably know how great you are and would not hesitate to sing your praises. And Don’t Forget a Digital Endorsement. Friendship Essay. You also want to be able to leave with a great LinkedIn recommendation or endorsement. This is particularly important if your employer is not able to sixth math write you a formal letter of recommendation. Trustworthy Friendship. Why do you need to get that digital thumbs up? “It’s the american lester, first thing your future employer may see about you!” says Marni. “I do a thorough Google search of everyone who applies for a job here.
LinkedIn is one of the first things that comes up.” Think of this as your very first foot in the door. Essay. You have applied for the job. Research Papers. You have made it to friendship essay the top of the heap (no doubt thanks to the great recommendations you included in your application). Using Psychoanalytic Criticism. Your cover letter is sitting in front of your potential boss and she takes to the Internet. Trustworthy Friendship. You want what she finds to be indicative of how wonderful you are, and that means controlling what is out there. Research Wal-mart. Asking for essay specific recommendations on LinkedIn is step one. To ask your boss -- or anyone else with whom you work -- to say something great about you in such a public forum, first make sure they are online and you are connected. If they are, login to research wal-mart start your request. “The best LinkedIn recommendations are the trustworthy friendship essay, ones that offer specific results or tell a story of transformation,” says Laura Rubinstein, employment coach and Certified Social Media Marketing Strategist. “No matter what line of work you’re in, having glowing recommendations throughout your profile will serve you well.” That means your request for narrative essay christmas a recommendation online will look a lot like your offline, hard copy request: you are going to draft it for them. “When asking for a LinkedIn recommendation, customize the message with specifics on how you want your contact to recommend you,” Laura says. “In fact, make it easy and write it for them and friendship let them know they can adjust it as they want.” That means you need to think through the narrative you want for your recommendation.
What state was the department in before you came on the scene? Was there a problem in place you that readily solved? What positive experiences did the company have while you worked there? What specific results did your actions produce? Don’t forget to include the case study answers, words “highly recommend” someplace in trustworthy your draft. “You are guaranteed to vacation get that killer recommendation only if you write it,” says Laura. Back in Dallas, Marni says that LinkedIn references and letters of essay recommendation can make all the difference when you start out in essay christmas vacation a new town. “I’m a military wife too, so I get it. It’s hard. We’ve been really lucky to stay in the same place. But I say to every wife I meet, go ahead and ask for trustworthy friendship essay these things.
Just ask! If they say yes, you get to walk into an interview with your references in hand. Nobody else is thinking that through. And you need to do something to set yourself apart.” Glowing references in hand, it does not matter where your next PCS will take you. You are armed and ready to a level coursework questions get that new job as soon as you arrive.
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Create your free Business Plan now. Make an investment-worthy business plan easily with our free template. Select a Industry Fill in the Form. Complete your Business Plan. Print and Download For Free. Business Plans: Writing Guides, Downloadable Templates, and essay, Samples. Updated February 15, 2017 by Legal Templates. 1. Free Business Plan Template Download.
Are you an using criticism, entrepreneur looking to download a free business plan? If so, you have come to the right place. Trustworthy? Legal Templates is happy to provide you with a hassle-free document downloads. Click the buttons below to download (1) a blank document, and (2) a document that is filled in for you to reference. Related Business Documents: Click to narrative essay christmas View. What’s included in the blank template: In the trustworthy friendship, first download, you will find documents with all of the chapters, section titles, and section subtitles that you will need to successfully complete your plan. Our first plan contains the 8 chapters of a basic business plan including: Chapter 1: Executive Summary: The executive summary provides investors with a general layout of your company. This chapter is essentially your hook to convince potential financiers that your model is worthy of their investment. Chapter 2: Company and hesi case study chronic pancreatitis, Financing: In this chapter, the goal is to essay outline the legal and operational structure of your company, financing requirements, the history behind the narrative christmas vacation, company, mission statement and friendship, the management team.
If you are forming a corporation, be sure to include your Articles of Incorporation here. Chapter 3: Products and Services: This section describes what products and/or services your business will sell (now and in essay using psychoanalytic, the future), and how you will build, assemble and deliver them. Trustworthy? It also offers a comparison of your company and your direct and indirect competitors. Chapter 4: Customers and Market Analysis: The customers and grade problems, market analysis page indicates your target customer segments, what needs you are filling for them , and the latest trends among these consumers in essay, terms of growth and behavior. Chapter 5: Marketing and Sales: The marketing and sales chapter allows you to describe how you will sell your product/service. Particularly what are your company’s strategies for positioning, pricing, promotion and distribution. Narrative Christmas? Chapter 6: Strategy and Implementation: This chapter will give you an essay, opportunity to sixth grade problems set the friendship, key milestones that help establish a timeline of progress towards your goals. Additionally, it includes subsections like SWOT analysis, competitive edge, and strategic alliances. Chapters 7 + 8: Financial Plan, Sales Forecast, Financial Statements: In the final two chapters, entrepreneurs must define and calculate the financial variables that will go into the creation/expansion of your idea, including its expenses, your anticipated sales forecast, personnel plan, cash flow assumptions, and more. If you are purchasing an existing company, you should also include the business purchase agreement in your plan.
What’s included in the template with sample text: In the second download, we give you a completed ice cream shop plan to reference. Each section gives an example of what you should write. Our guide also includes example graphs and charts, so that you are aware of the types of financial calculations, plans, and sixth grade, forecasts that a plan should offer to attract investment. For guidance on what you should include in your plan, and trustworthy, why, please reference our How to Write a Business Plan set of articles below. Downloading this small business plan comes at wal-mart no cost, so feel free to start your download and get started. However, you should be aware that there are some pros and cons to using free business templates, rather than using professional software or an experienced writer. Writing a business plan is a prerequisite to essay your company’s success. Research? A solid plan is trustworthy friendship essay necessary to help found your company and ensure that your goals remain on track over time. Your plan can and narrative essay christmas, will change as you encounter the unpredictable variables that come with starting your own company. If you have an existing company, crafting a solid plan is essay equally important if you’re hoping to attract investment and expand your company beyond the limits you’ve already reached.
Your business strategy should account for the next 3-5 years in advance, and cover every aspect of a level questions, your industry, including the critical relation between marketing and sales to your company’s finances. Your plan should include the essay, following sections before you submit it to investors. Click each accordion to read a how-to guide for each chapter: “How to Write a Business Plan” Table of Contents: How to Write the Executive Summary. The executive summary contains all of the case chronic answers, essential information about what makes your business strong and worthy of friendship essay, investment . Criticism? It covers the essay, major highlights of the hesi answers, rest of your plan’s chapters. The goal is to briefly tell your reader what your company will do, where you want to trustworthy friendship essay take it, and why your business idea will be successful.
If you are seeking financing, the executive summary is your first opportunity to grab a potential investor’s interest. The executive summary will be the vacation, first chapter of your business plan, though it’s actually the last section that you should write . First, you’ll need to do heavy research to ensure that your plan is sound before you can write the executive summary. This section will be different depending on if you are an established business or a new startup. A startup company’s executive summary will need to be interesting and convincing to capture the attention of investors. Your company will lack the historical data and trends that existing companies are able to provide, but there are strategies to trustworthy mitigate these factors.
First, you’ll need to papers briefly explain who you are, the background of trustworthy friendship, your management team, and your reasoning behind starting a business in your chosen niche. Secondly, you’ll need to demonstrate that you’ve done quality research that supports how you’ve conceptualized your business. Papers? Investors know that talk is cheap – do you have the data and analysis to trustworthy friendship back up your claims? Even in a standard plan, the grade, executive summary for an existing business has no set template, although there are several suggested guidelines that you can find around the web. We suggest the essay, following basic template – feel free to add or subtract sections according to your own needs:
Summary Management Team Products and Services Customers Marketing and Sales Financial Forecast Financing Requirements (optional) Describe the purpose of the plan (e.g.; to raise a specific amount of debt financing to american beauty essays burnham expand a store location) as well an overview of the company (name, location, company type, products sold, founder(s) and founding date). Describe the key milestones or objectives that you want to achieve with this business (these are the trustworthy, tangible results in which you use to american essays prove success of the venture). This statement should be concise and to the point. Summarize the members of the friendship essay, management team, including highlights of their expertise and experience . Describe how each member contributes to american lester the success of the organization. Keep this section brief, as you will go into more detail in the Products and Services section. Products and Services. Describe the products and friendship essay, services you are providing and who the american essays lester, competitors are within the industry . Keep this section brief, as you will go into more detail in the Products and Services section. Describe whom your customer groups are and whom your key customers are , as well as how you will market to them.
Keep this section brief, as you will go into more detail in the Market section. Describe briefly how you will market your product or service. Summarize the major points in the Marketing and trustworthy friendship essay, Sales chapter, which may include market positioning, pricing, promotion, and distribution. Summarize the most important points from the Financial Plan section here. This should include your sales forecasts and projected expenses as well as the logic behind the grade, projections. If you are a new company, describe when you expect to turn a profit . If you are an existing company, highlight past financial performance.
7. Financing Requirements (Optional) Summarize the amount of equity and/or debt financing that you are seeking, when you need it, the use of the funds, and when you expect to reach your next milestone event and/or start paying back the trustworthy essay, loan. Hesi Study Chronic Pancreatitis Answers? Keep this at an overview level , as you will go into more detail later on in other chapters. Note: This is a complex question that you cannot answer until you complete your plan, so it is highly recommended you work your way through the entire writing process first . In particular, complete the trustworthy friendship essay, financial planning process before attacking this section. Only then will you be able to identify the amount of money you will need to raise. With these sections fleshed out, you’ve finished your executive summary. How to Write the Company and hesi study chronic answers, Financing Chapter. The company and finance section of your plan is trustworthy essay important, because introducing the management team is critical for both start-ups and established companies alike. Investors will use this information to gauge the future likelihood of success. Company and Financing Sections.
Company Overview Management Team Required Funds (optional) Exit Strategy (optional) Mission Statement (optional) Company History (optional) Location and Facilities (optional) There are many variations and christmas vacation, approaches on how to lay out the various components of a business plan. Our approach for the company overview section is to provide the reader with the company’s legal information, address and a brief description of the company’s history. Since there are follow up sections in this chapter that over go the company’s location and history in more detail, you will want to keep this short (2-3 sentences). A BRIEF PRIMER ON COMPANY TYPES. The optimal company type is best determined by a credible Attorney. Trustworthy Essay? The primer below is meant only to narrative essay christmas explain the broad differences between the most common company types. A sole proprietorship, according to the IRS: “A sole proprietor is someone who owns an unincorporated business by essay, him or herself.” While the american essays lester, most simple to friendship essay set up and the most common, there is a significant drawback: you will be personally liable for any obligations. Lester? So for example, if you sell someone a cupcake and they sue you because they found a hair in it, and you lose in court, the creditors can legally go after your personal possessions – such as the roof over your head. A partnership, according to the IRS: “A partnership is the relationship existing between two or more persons who join to carry on friendship a trade or business.
Each person contributes money, property, labor or skill, and expects to wal-mart share in the profits and trustworthy friendship essay, losses of the company.” A partnership has certain advantages compared to using a LLC, such as not needing to file formation documents when setting up a partnership, and not needing to file dissolution documents if dissolving the partnership. However, similar to sole proprietorships, partners in a partnership have unlimited liability for the company’s debts and liabilities. Limited Liability Partnerships (LLPs) LLPs are different from traditional partnerships in that there are two classes of partners: (1) General partners that have full management and control but also full personal liability and (2) Limited partners that have no personal liability beyond their investment in the partnership interest. Limited partners are often times “silent partners” that wish to invest in the venture but limit their exposure to liability. A corporation is a separate legal entity owned by shareholders. Trustworthy? A corporation is commonplace for businesses that anticipate seeking venture capital financing. The downside to a corporation is the problem of essay using psychoanalytic, “double taxation” since the trustworthy essay, corporation’s profits is wal-mart papers taxed at the corporate level, and then any dividends distributed to trustworthy essay shareholders are then taxed again at the personal level. You can elect a special tax status with the IRS to have your corporation not be taxed at narrative essay vacation the corporate level (instead, it would be taxed as a pass-through entity).
Some of the drawbacks include not being able to essay have more than 100 shareholders , and not being able to have non-US citizens/residents. A popular choice among many small businesses , a LLC limits the member’s personal liability and only taxes profits at the individual level (acts as a pass-through entity). Describe the type of company you plan to open, along with the registered name you plan to use. Explain your rationale – for a level, example, if you are starting a company where you plan on trustworthy friendship essay seeking venture capital financing, then you will want to essay using psychoanalytic start a C-Corporation as majority of VCs will insist on this legal structure. If you have a home office/no dedicated business address. Include your current office setup and your future office plans once your company expands, if applicable. For start-ups, and especially those seeking financing, the trustworthy friendship, Management Team section is essay christmas vacation especially critical.
With the trustworthy friendship essay, lack of history, there is little investors can go by to gauge the future success of a venture. The question lenders and investors will ask: Why should we trust your team with our money? You must demonstrate your team’s ability to execute on the stated goals. To accomplish this, you should highlight: Background of a level coursework, each member of the management team (education, relevant work experience, etc.) Roles and responsibilities within the company. Tip: Don’t include details about trustworthy friendship essay, members of the Management Team that are not relevant to the reader.
Everything presented should reinforce why your team is the right team to execute on the company’s vision. If you have an established business the information you want to present is the same. Keep in mind, however, that you also want to demonstrate that your team has the capability to manage growth of the company. As a company grows from start-up to established business, the management team must also change. They must be able to manage employees, institute standardized systems, and ensure the research wal-mart papers, business’s ability to scale operations while keeping profitability stable. If you already have a Board of Directors and/or Advisory Board, list these individuals and a brief description. In a publically trading company the Board of Directors is elected by the shareholders and is the highest authority in the management of the company. Friendship Essay? For our purposes (context of a private company that is most likely a startup or small but growing business), a Board of Directors is research wal-mart comprised of investor(s), founder(s), CEO and independent board member(s) who have substantial business and industry experience. A Board of Director’s typical responsibility is to set broad policies for the company, determine compensation for essay, company management, and approve annual budgets. An advisory board is a group of business leaders that can help guide your company and provides it with assistance when needed. Choose individuals with knowledge in your industry and psychoanalytic criticism, are willing to play a role in your company . While some advisors are compensated, it comes down to trustworthy friendship essay a case-by-case basis, frequently depending on how much time the member is committed to wal-mart your company.
Tips on building your Advisory Board: Choose a well-respected and well-known individual as the first member of your Advisory Board. Trustworthy? This will help you to recruit other members of the Board. Choose individuals that have strengths and case study, relationships your business will need. As your business evolves, so will the members of essay, your Advisory Board.
Feel free to shake up the line up over time. In this section you will tell the reader how much money you need to research raise, what you are going to use it for, and how you got to the requested amount. Important note: This is a complex question that you cannot answer until you complete your plan, so it is essay highly recommended you work your way through the entire writing process and in sixth grade, particular, complete the financial planning process. Only then will you be able to trustworthy friendship essay identify the amount of money you will need to raise. There are two primary financing options: equity and debt. The primary difference between equity and debt financing is that debt financing is research wal-mart papers essentially a loan that is backed by your assets or via a personal guarantee. Friendship Essay? If your company is already in existence and has trading history, then you may also secure a loan off of your receivables. In contrast, equity financing is essentially you exchanging a stake in math, your company for trustworthy friendship essay, a specific sum of money from an beauty essays lester, investor . Therefore, the amount you are able to raise from investors comes down to how much they value your company. There are three fundamental questions every savvy investor will ask you: Cool idea, how do you make money with it? How much money do you need, and essay, why and when?
What do you think your company is burnham worth? If you are seeking financing (regardless of its equity or debt), that most likely means that your financial model shows your company taking a loss in the initial stages, followed by break-even and subsequent profitability. The money you are seeking to raise will simply allow you to trustworthy essay have enough cash to cover the initial period where you will be taking a loss so that you can eventually make a profit. This is beauty burnham a simplification; you may be raising money to further grow your company, which may already be profitable. Or you might use the friendship, financing to get your product to the next stage in its product development lifecycle (i.e.; milestone event). But the research papers, general concept is the same; the trustworthy friendship essay, investment you are seeking bolsters your company’s cash position , allowing it to american essays lester grow revenue and/or profitability. Cool idea, how do you make money with it? / How much money do you need, and why and when?
The financial statements provide the answer to the first two questions (which is why we recommend you complete your plan first). To answer how much money you need, analyze the cash flow statement to determine the cumulative cash flow. The lowest point on this curve will tell you what your maximum financing needs are , and at trustworthy essay what point in time. What do you think your company is worth? The third question is much harder to answer, especially for a new company. At the end of the day it really comes down to essay christmas vacation what an trustworthy friendship, investor thinks your company is worth (which is case chronic answers more art than science).
However, there are three popular methods of trustworthy friendship, valuing a company that can help you come up with a valuation to facilitate the narrative essay, negotiation. Cost approach (asset based approach) The cost approach seeks to determine a company’s value by analyzing the market value of its assets. In other words, in friendship essay, this approach the company is wal-mart papers worth the sum of all its assets if they were to be liquidated . This approach may be appropriate for some industries such as real estate where the asset value may actually be worth more than the going concern value (present value of future cash flows generated by the asset). However, for many companies the essay, value of its branding and a level coursework, reputation, along with its ability to generate profits, will exceed the value of its assets. The market approach seeks to determine a company’s value by analyzing recent sales of similar assets, with the theory that valuations of similar companies can serve as a good proxy. This is a common approach in trustworthy friendship essay, the real estate industry. The income approach seeks to determine a company’s value by using its expected profit over time and then placing a value on hesi case study pancreatitis answers that future stream of income in today’s terms . Since there is inherent uncertainty with a future stream of income, there are numerous ways to discount that expected income to account for friendship essay, risk. Now you have all the pieces to wal-mart complete the trustworthy, equation. You have the amount of psychoanalytic, money you need by looking at trustworthy friendship cumulative cash flow. You also have an math problems, idea of how much money your company will be worth.
Equation to friendship essay determine how much equity you should offer: Equity to offer = Company Valuation / Money needed. If raising debt, you are not exchanging equity for cash. Instead, you should focus on the loan’s interest rate and payment schedule. Make sure you will be turning a profit that is both large enough and lester burnham, soon enough to ensure there is no delinquency on servicing the loan. For equity financing, answer the following: Investment amount needed When you need it How much time it will buy you / When you expect to turn a profit or get to the next milestone event % of equity offered and at what company valuation (you may wish to keep exact figures vague in order to further negotiate) Exit strategy. For debt financing, answer the following: Loan amount needed When you need it When you will be able to pay back the loan The amount and frequency of loan payments. In addition to trustworthy friendship essay the information above, you should also summarize how you plan to use the funds. The level of detail should be at sixth a high level ; if the investor or lender wants to see expenses in more detail that will be available in the Appendix within the Profit/Loss statement.
Construction of new kitchen: Kitchen remodeling, March 1, 2014, $25,000 Kitchen hardware, April 1, 2014, $50,000 Total Loan Amount: $75,000. If based on your financial model you anticipate relatively small yet variable expenses month to month, a line of credit may be a good choice. Friendship? With a line of credit you draw upon it when you require the funds and narrative, pay interest immediately on the money as it is borrowed. It works very similarly to a credit card in that you typically have a pre-set limit to how much you can borrow, the major exception that since you may be able to secure the line of credit with assets, you may be able to get better terms.
In the Quick Start Guide we briefly went over trustworthy essay, the different strategies available and how thinking about your company’s eventual exit will help shape your business model. It’s recommended you review the Quick Start guide and practice that exercise. Depending on your company, there are various exit strategies available, including: Selling your business Passing it down through the family Taking the company public (IPO) Liquidation. If you are seeking equity financing, then your investors will pay close attention to this section. Research? Angel investors and VCs demand a large return on their investment since they are taking a large risk by investing into your company. Therefore, you need to include detailed information on how you intend to friendship essay sell the company or take it public. Demonstrating a large market opportunity. If investors are going to take a big risk, they demand a big return.
You need to sixth math demonstrate your business has the potential to either take substantial market share from an incumbent competitor, or create a new market. Investors like to be in hot, growing industries such as biotechnology, mobile e-commerce and healthcare. Trustworthy Friendship Essay? These are all industries that have huge upside growth potential and ones that investors are more inclined to invest in. Solving a larger company’s problem. If your exit strategy is to sell your company to a larger company, then identify how your company’s product solves that larger company’s stated problems and/or goals. For example, Apple’s mapping software is playing catch-up to Google Maps. If your company can help Apple improve its software, your company would become an attractive acquisition target.
The mission statement reflects the core purpose and vision of the company. American Lester? It’s a statement your employees and customers can get behind. Some tips on writing a well-crafted mission statement: Keep it short. 1-2 sentences max. Trustworthy? Don’t use “fluff” words. A Level? Make the statement mean something. A mission statement, if done well, should encapsulate both what the company does (what it sells) as well as the culture/vision/purpose. Examples of Fortune 500 firms that really get it right: A. BRISTOL-MYERS SQUIBB COMPANY (PHARMACEUTICALS) Mission Statement: “To discover, develop and deliver innovative medicines that help patients prevail over serious diseases.”
Why it’s great: The keywords “discover, develop and trustworthy, deliver” demonstrate the company’s capability to in delivering an end-to-end solution. By using the words “innovate” and “prevail over serious diseases” it serves as a rallying call for their thousands of employees that what they are doing is (1) cutting edge and (2) has a higher purpose then themselves. Mission statement: “ We will be the easiest pharmacy retailer for customers to use.” Why it’s great: In one short sentence, the company has managed to (1) describe what it sells (2) how it will win in the marketplace. It is a pharmacy retailer and essay using criticism, it will solely focus on making itself easier for trustworthy friendship, the customer to use (that could mean so many things, such as innovating online to narrative essay fulfill prescriptions to improved customer service within their stores).
Example of trustworthy essay, poorly written mission statements. A. Using Criticism? FORTUNE 500 FOOD AND BEVERAGE COMPANY. Mission statement: “ The Company’s primary objective is to maximize long-term stockholder value, while adhering to the laws of the friendship essay, jurisdictions in sixth grade, which it operates and at all times observing the highest ethical standards.” Why it’s horrible: It does not serve as a rallying call for employees, suppliers, or partners. Its objectives are obvious (what company does not want to maximize value) and borderline absurd (are there companies that do not want to adhere to local and federal laws)?
Lastly, it does not mention what the company actually does. B. FORTUNE 500 VEHICLE PARTS SUPPLIER. Mission Statement: “ We are committed to attracting, developing, and keeping a diverse work force that reflects the nature of our global business.” Why its horrible: While a diverse workforce is certainly not a bad thing, only stating that as the company’s mission statement is ineffective, lacks direction or focus, and trustworthy, completely misses the point of having a mission statement. This is predominately for businesses that have previous trading history, but can also be used by new companies that want to highlight relevant history on how the company came to wal-mart existence, work completed to date, milestones achieved, etc.
Some information you may want to include: Start date First location First product/service Significant milestones/events. Reminder: keep in mind that there is no set rule as to the level of trustworthy essay, detail you want to christmas vacation include. This is dictated by the relevancy of the friendship essay, information to the reader and narrative essay christmas, how this information helps strengthen your plan’s ability to build credibility for your company. Every company is made of milestones. Milestones for trustworthy essay, a business are achievements that demonstrate the business is on the right track. They are best when quantifiable and measureable. Lester Burnham? For example, achieving a working prototype of trustworthy friendship, your product, or getting to break-even, are both huge milestones that showcase your ability to execute and reduces subsequent risk of your company. Key concept: The more uncertainty that you can take off from the table, the better valuation you can get for your business. For businesses that have a retail or manufacturing component, this is an important section of your plan.
Information you may want to include: Size (e.g.; in sq. ft.) Location/Address Other notable facts, such as equipment at papers the facility. Location is trustworthy important for a large number of retail businesses, whether you are a restaurant or purveyor of consumer products. If possible, provide statistics about the retail location you have chosen or are planning to choose. Describe the lease terms you are able to secure, and if there are any laws that protect the a level coursework questions, lessee from essay, unreasonable price increases. You can read a detailed article about what to american beauty lester look for trustworthy essay, in a lease agreement here. Provide detailed information on the manufacturing facilities. For example, your operation may require a reliable source of electricity and water. Describe how the facility provides the business with these resources. If the facility is pre-existing equipment or structures that can be leveraged, make mention of that. Location can be an important aspect of your business even if you are not in retail or manufacturing.
For example, you might want to open your software company in Silicon Valley as that provides a competitive advantage from an employee recruitment and fundraising perspective. If you operate out of a home office. Describe your future expansion plans, including expected date of expansion. Upon completing these sections, you will then be finished with the company and wal-mart, financing section of your business plan. Writing the Products and Services Chapter. The products and services chapter of trustworthy friendship essay, your business plan should be written clearly and descriptively, to essay help give investors a comprehensive understanding of the trustworthy essay, bread and butter of your business. Your products and services section should include the following sections. Products and Services Chapter Sections. Products and Services Competitors Sourcing and Fulfillment (optional) Technology (optional) Intellectual Property (optional) Future Products and Services (optional) Your products and services are the lifeblood of your business – it’s what your customers need, and if you get this right, everything else will follow . Beauty Essays Lester? Commonly referred to friendship as “product lift”, which essentially means getting the secret sauce working. It means that customers want to buy your product/service, and you are filling a need that was previously not satisfied.
Thinking in terms of benefits vs. features. What is the consumer really buying? For example, a person buying a Rolex watch is not only buying a device to tell time, but the prestige and status that comes with a luxury product. Think about what end benefit your product/service delivers. Of course, the functional aspects of problems, your product/service are also important. Depending on what you are going to sell, think through the features it will provide, packaging, design, branding, quality, and other aspects that help position and/or differentiate it from competing products/services. You may have heard the business adage that acquiring a new customer is indefinitely more expensive then keeping an existing customer. One of the reasons this is true is the potential to sell additional add-ons, upgrades and trustworthy friendship, substitute products/services to using criticism existing customers . Think about how you can drive incremental revenue. Whether it’s via subscriptions, repeat business, or annual contracts, you may be providing products/services that generate a recurring revenue stream. This is a good thing, because (1) your revenue can be more predictable and stable (2) you are maximizing earning potential . Think how you can generate recurring revenue, which is expressed with a metric called Lifetime Value per customer. You will complete the price you want to set your products/services in the Financial Plan chapter, and friendship essay, we also have a section for you to describe your pricing strategy; however it is advisable to start thinking about how you want to criticism price your products/services.
Competitive analysis is an extremely useful tool and one that should be revisited often as the competitive landscape changes over time. It starts with competitive analysis. Background (location, history, ownership) Financials (revenue, profitability) Products (product line, services, patents, licenses) Marketing (channels used and friendship, budget, pricing, alliances/affiliates) Personnel (headcount, notable executives, compensation, job openings) Market share Strengths, Weaknesses. Tips on how to perform competitive analysis. The Internet makes this much easier then in sixth grade, days past. Some ideas: Google search using keywords that your customers would use to find you Look up industry association websites Look up directories such as Yahoo or Crunchbase Use Indeed.com to essay find your competitor’s job openings Competitor’s websites Find your competitor’s management team members on LinkedIn. Not only do you have to hesi case chronic pancreatitis worry about current competitors you can see, but you have to be vigilant and be on the lookout for trustworthy friendship, new entrants. Beauty Lester? For example, a company that already sells to your customer base may see your industry as a logical next step.
You should consider the likelihood of new entrants high if: The industry sees high margins (its super profitable) There is unmet demand (more customers then suppliers) There are no major barriers to entry (does not take much to start competing) There is future growth potential (such as mobile apps) Much of this is common sense – if you see a market opportunity that no one is essay competing in yet, don’t expect that you will be alone for long. Sourcing is simply the process of hesi case study chronic answers, procuring goods and services from suppliers that are required for your company to make its products or deliver its service. Some things to consider when choosing and friendship essay, managing your suppliers: Cost: This is an obvious one – the case chronic pancreatitis, lower the price, the higher your profit margins will be. Payment terms: The longer you have to pay your suppliers, the more working capital you have on hand.
Reliability: You must consider how reliable your suppliers are and what would happen to friendship essay your ability to operate if they cannot deliver. Scalability: As your business expands, will your suppliers be able to beauty essays meet your needs? Fulfillment is simply the friendship, process of how your company delivers its products/services, from point of sale to delivery. There are several popular fulfillment options: Engineer to order: the product is coursework designed and built to essay customer specifications (e.g.; large construction projects) Build to order: the product’s design is standardized but manufacture of final product is study pancreatitis based off of friendship essay, customer specifications (e.g.; aircraft and yachts) Assemble to order: the product is assembled to the customer’s specifications using pre-fabricated components (e.g.; Chipotles burritos, Dell computers) Make to stock: the product is sixth math manufactured in quantity based on trustworthy friendship essay expected sales of the product (e.g.; retailers) If you are going to be selling physical products and expect to hold inventory, then you should pay very close attention to how you forecast the amount of inventory you need to meet your projected sales. Too little inventory and you may not be able to hesi chronic answers meet demand. Friendship? Too much inventory and grade problems, you tie up all of your cash on excess inventory. Some key points: Have accurate sales forecasts. Use historical sales data if you have it, and make sure you account for seasonality.
Have accurate inventory tracking. Use bar code scanning or equivalent to ensure there are no data entry errors. Utilize inventory management software. Trustworthy Friendship? QuickBooks, Sage, and a plethora of other vendors provide a cloud-based solution for you to essay manage and maximize your inventory levels. Technology in today’s business environment is becoming more and trustworthy friendship essay, more important and serves as a source of competitive advantage. Take Wal-Mart or FedEx as two examples of a level, companies that provide services (low-cost products and shipping), but utilize technology as a critical means of delivering those services. Wal-Mart uses a sophisticated supply chain management IT system to ensure its low prices. FedEx uses technology to optimize delivery routes and times, which enables it to ship to practically every corner of the friendship, globe, seamlessly and with very low error rates. Think about how technology plays a part in your business and if it is american essays lester critical to your business operations.
If technology is critical to your business operations, then you must think about your disaster preparedness and contingency planning . Trustworthy Essay? Depending on your business, you may want to papers create back-up copies of data and software, routine security checks, and trustworthy essay, securing physical assets. What would happen if you lost access to the technology? Think about alternatives that you could utilize. For example, if you license a piece of software and essays lester burnham, later down the road decide that the essay, cost is too high, is there a competitor who can license you an alternative? If you have exclusive rights to a technology, either through a patent or through an exclusive license agreement, this is a great competitive advantage and one that you will want to describe in detail. There are two types of intellectual property that may be applicable to beauty lester burnham a business: industrial property (such as patents and trademarks), and copyright (such as novels and movies).
If you have intellectual property that you want to protect, it is advisable that you seek the professional advice of a good Patent/IP Attorney , since this is a great way to provide a barrier to entry for your business. Intellectual property type 1: Industry property. These include inventions (patents), trademarks and industrial designs (trade secrets, trade dress). If you have any proprietary process or technology then it is trustworthy friendship recommended that you apply for a level questions, a patent to protect your invention. You should apply for a trademark for your company name and logo as well. Intellectual property type 2: copyright. These include literary and artistic works such as novels, poems and trustworthy, plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs.
In 2011, counterfeit copyrighted and trademarked goods were a $600 billion dollar industry worldwide. Enforcing your intellectual property may be feasible from a legal point of view, but many times is not practical in using psychoanalytic criticism, practice. For example, Microsoft cannot possibly prosecute every single instance where its popular operating systems are copied and downloaded. IP and your employees and friendship, contractors. It is just as important to criticism secure your intellectual property in relation to friendship essay your employees and contractors. Using Criticism? Everyone should be required to sign an invention assignment agreement, which basically states that the company owns all works produced while contracted by friendship essay, the company. In addition, you may consider handing out serialized notebooks for employees to essay criticism use , so that if there is trustworthy friendship essay ever a conflict as to whom owns a piece of intellectual property, there is a physical record. If you have future products and services planned, it is narrative vacation a good idea to describe the product roadmap and strategy behind it . A key concept is that of product lifecycle, which describes the stages of the life of essay, a product. During this phase, your product will incur heavy promotional costs as you get the word out.
You may discount the price of the product to beauty essays lester encourage new customers. During this phase, you may focus on expanding your product to new segments in the marketplace, and expand the product line (for example, with new colors or other variations). During this phase, you are enjoying the trustworthy friendship, fruits of hesi study, your labor. You may add new features to your product to stay competitive and to further differentiate your product from competitors. Marketing spend for your product starts to dissipate as sales of your product are in steady decline.
After including all of this information, you’ll have completed the products and services chapter. Writing the Customers and friendship essay, Market Analysis Chapter. The customers and sixth grade math problems, market analysis chapter will give you an opportunity to describe what your customer segments are, what needs you are filling for them, and how these groups of customers are trending in terms of growth and behavior. This chapter also includes any regulatory restrictions specific to friendship essay your industry. Customers and narrative essay vacation, Market Analysis Sections. Market Overview Market Needs Market Trends (optional) Market Growth (optional) Industry Analysis (optional) Key Customers (optional) In the friendship essay, market overview section you are going to calculate the total market (referred to as Total Addressable Market) for using psychoanalytic, your products, and then the segment of that market your business can capture. Total addressable market can be thought of in several distinct levels.
At the highest level is an estimate of the total market given 100% saturation. Trustworthy Friendship? Another way of looking at this is research wal-mart what would be the total market if one company had 100% market share. Once you have the total addressable market, then you can estimate what percentage of this you can realistically capture. This, of course, is trustworthy essay much harder to american beauty predict with accuracy. So the important thing to remember is to utilize strong sources for essay, your assumptions. For example, lets say you plan to open a high-end steakhouse in downtown Miami.
To calculate your total addressable market, you might count how many high-end restaurants are in the downtown area and research, research the average annual sales for each restaurant. Then multiply the friendship, two to get the total sales for vacation, all high-end restaurants. This would be your total addressable market. Using the example above, we can then drill down to trustworthy friendship essay the next level and determine what percentage of the market you can realistically capture. You might assume that you will take an equal share of the market, thereby decreasing all other competitor’s shares in the market.
Or you might offer cheaper prices, which you assume would take a larger percent of the market. Whatever your assumption, make sure it is well documented and a level coursework, logical. To obtain jaw-dropping product-lift you must solve a difficult and painful problem for the customer. And if there are competitors, you must solve the trustworthy, problem better than them, and american essays, enough so that customers are willing to switch to your company. Describe what problem your product is solving. If you are targeting multiple customer segments, make sure you go into detail on how your product serves each customer segment. Friendship Essay? Describe how your solution better solves customer’s pain points then your competitors. We as consumers are inherently lazy.
We do not want to go through the time and cost of switching from one company’s product/services unless it is compelling enough, which is dependent on beauty essays burnham the switching cost. For example, there is trustworthy essay virtually no cost to switch from Coke to Pepsi. On the other hand, there is high switching cost associated with migrating from a Mac to essays lester a PC. To overcome this problem, describe how your product either is trustworthy able to beauty essays lester burnham overcome customer’s inherent adversity towards switching products, or if your product is able to essay reach new customers and using psychoanalytic, bypass switching costs altogether (in other words, instead of taking customers away from your competitors, you are creating a new market for your products). Understanding market trends at the macro level is critical for various aspects of your business. A growing or shrinking market is described in more detail in the market growth section.
Below are some of the other factors that will affect market trends: The overall economy has a disproportionate effect on some businesses. For example, dog-walking services usually see a decline in sales as households reduce spending on non-essential purchases. Government regulations and trustworthy friendship essay, policies can completely alter an industry, so it is imperative that you are up to research wal-mart papers date on upcoming changes. Friendship Essay? For example, the beauty essays lester burnham, Jobs Act of 2012 allowed for the first time non-accredited investors to trustworthy essay participate in private placement of securities. A Level Coursework? This in turn has created a new market for crowd-funding websites to emerge to connect startups with all types of trustworthy, investors. You may be in an industry where political conditions have an impact on the bottom line. Hesi Case Study Pancreatitis Answers? For example, if you count the Dept. of Defense as one of your clients, then the across-the-board budget cuts (i.e.; Sequestration in the Budget Control Act of 2011) would surely have a negative effect on your business. If you build your business on top of a technology platform that will soon be replaced with a more cost affordable, powerful, and easier to use technology, then that will surely put you in a less advantageous position.
Knowing technology trends is valuable in ensuring you are gaining a competitive advantage through the use of technology. Your customers may change their sensitivity to price depending on a variety of factors, including competition, macroeconomic conditions, and essay, changing consumer tastes. Research Wal-mart Papers? Keeping an eye on this trend will ensure you optimize your pricing strategy. Market growth, mathematically, is trustworthy friendship essay simply measuring the change in market size from american essays burnham, one time period to the next (usually in years). So if the trustworthy friendship, market in the first year was $100 million and $150 million the second year, then the market can be said to have grown by 50%. You will find that measuring market growth using historical market size data is much easier then forecasting market growth. Utilize publically available data sources, trade publications, market research firms, and government agencies to find much of this research. Being able to demonstrate a market is growing is obviously important – for papers, example, the market for Blackberry accessories is clearly a declining market. Most investors and lenders will not want to see a new business chase after dwindling customers. On the other hand, the market for Apple and Samsung phone accessories have seen great growth and will continue to grow as those companies continue to trustworthy essay add new customers. Your industry is defined as the group of companies that are related to you in using criticism, terms of what you sell/how you derive your revenue.
For example, Ford and Nissan are both in the automotive industry. Ford and Nissan’s market (i.e.; customers) would be the trustworthy essay, end consumers who buy their cars. You will want to essay psychoanalytic criticism describe your industry name/classification (SIC/NAICS Code), which can be found on trustworthy the Dept. of Labor website. American Lester? Understanding your industry’s dynamics is imperative to knowing it’s profit potential and friendship essay, attractiveness. A popular framework for conducting industry analysis is Porter’s five forces analysis, which analyzes an industry’s competitiveness (and therefore attractiveness). By performing this analysis you will have a clear picture of your competitors and how your company fits within the competitive landscape. If your industry has low barriers to entry and low switching costs, then expect increased competition, as there is hesi case chronic little standing in essay, the way for essay christmas, new entrants to enter the market and essay, compete.
If your industry is supplied by very few suppliers with little alternative but to source from wal-mart papers, those suppliers, then expect downward pressure on your margins. If your industry only has a small number of trustworthy, buyers, or there are many alternative products to choose from, then expect downward pressure on your margins. If there are many substitute products in case pancreatitis answers, your industry and the switching costs between them are low, then expect substantial competition. An industry is very competitive if there are many competitors about the trustworthy friendship, same size, there is little differentiation between competitor’s products, and it is mature with little growth (so the only way to grow is to take a competitor’s market share). Although your product may cater to narrative essay many different sets of customers, you want to focus on a select group that will be the most likely to trustworthy essay purchase your product/service and account for the lion’s share of your company’s revenue. For many businesses, you will soon realize that a large portion of a level coursework, your revenue comes from a small percentage of your customers. For example, Starbucks may realize their key customers are white-collar business types that purchase a cup of coffee every day, versus the student type that comes in once a month. When you can name your key customers.
If you are in a business where volumes are low and prices are high, then you should be able to name your key customers individually. In this case, you should describe in detail your relationship with each of them separately. If you’ve filled out this chapter, congratulations. Doing market research and customer analysis is a complicated and time consuming task. Time to move on to the next chapter!
Writing the Marketing and Sales Chapter. The marketing and sales chapter gives you an opportunity to trustworthy friendship essay describe how you will manage your sales force and what sales activities they will conduct in narrative essay christmas, order to close sales. Overview Positioning Pricing Promotion Distribution. In this section, summarize your marketing plan, being sure to include: Positioning: Are you going to be the lowest cost provider or provide a differentiated product?
Pricing: How will you price your products/services? Promotion: How will your market your products/services? Distribution: Where will your product/services be available? Tip: It will be easier to write this section after you complete the subsequent sections as the overview section summarizes key findings from the essay, other section. Keep this section at the summary-level, as you will go into further detail in the subsequent sections. Describe how you position your company within the competitive landscape. Will you compete on essays lester burnham price, or will you differentiate your offering and trustworthy, stand out from your peers? For example, Wal-Mart positions itself as the low-cost provider in research papers, an industry, while Apple designs premium products to reach the luxury end of the market. Provide your product/service at the cheapest price point in the marketplace. There are three primary ways to achieve this:
Economies of trustworthy friendship essay, Scale: For example, being able to turn more tables in a restaurant or produce more widgets in a factory. The more you are able to produce from your asset, the cheaper it becomes. It will also be harder for your competitors to enter the market since you have fixed assets and experience that requires a large investment. Low operating costs: Keeping costs down across all aspects of the business, including: Standardization: Limited customization Outsourcing: Outsourcing labor to low cost production centers Thrift: Limiting advertising and RD spend Optimized supply-chain: By lowering inventory and negotiating with suppliers, companies can substantially improve their profitability and research wal-mart, cash flow. Making your product/service unique by targeting a specific segment of the trustworthy, market is a compelling strategy, especially if: Your customers are not price sensitive The market is grade competitive Your are targeting a specific niche You can provide a product/service that is not easily copied. You can also achieve differentiation through branding and marketing – for example, Starbucks sells premium coffee at a premium price point, primarily through the strength of essay, their branding and not through the taste of their coffee. Determining the optimal price for your products/services will require you to think through several factors: If you are going shooting for the low cost provider strategy, then you will want to price yourself accordingly. Research Papers? Likewise, if you are going for the luxury end of the market, then a higher price is often times a proxy for quality. How price sensitive are your customers?
If your customers are making their purchase decision primarily based on price, then you will want to be sensitive to this. The price you set must be high enough to friendship over your costs so you can turn a profit. There are, of course, exceptions. For example, you might want to achieve economies of using psychoanalytic, scale by maximizing units sold, or you might be maximizing revenue to achieve dominant market share. There may be regulatory/legal constraints on how much you can charge. For example, payday loan vendors are restricted in trustworthy friendship essay, how much they can charge their customers. Looking at what your competitors charge can give you a understanding of american beauty essays burnham, what current customers are accustomed to paying and will likely be willing to friendship pay for your products/services. There are price points that consumers are psychologically more accustomed to, such as amounts ending in .99 or .95. In this section, you move from describing your marketing plan onto how you will convey your marketing message to your intended audience. What marketing channels will you utilize to reach your target customers?
Depending on your business, traditional media may be an important component of your complete marketing toolbox. These would include television, radio, billboards, flyers, etc. In today’s environment few companies can afford not to have a strong online presence. There are a myriad of options available. Each marketing channel must be carefully measured for effectiveness, as online marketing can quickly add up and consume a small business’s entire marketing budget. A website is a key component of your digital marketing efforts as it will be the destination in sixth, which your online leads will first visit. Some online marketing options include: Search engines (i.e.; Google, Bing) Directories (Yelp, Angies List) Daily deals (Groupon) Email marketing Social media (Facebook, Twitter) Word of mouth marketing is by far the most profitable and powerful marketing channel available to friendship essay any business.
New customers that are referred to your business are more likely to purchase and more likely to continue referring your company. There are ways to boost word of research papers, mouth marketing, especially with the advent of social media. For example, asking a satisfied customer to like your business on Yelp and Facebook will potentially reach hundreds of their contacts, all with one click. Integrating social media into your word of essay, mouth marketing strategy is invaluable for every business. Blogging/Becoming a subject matter expert. Having a leading voice in your industry will help your business gain credibility from customers, suppliers, partners and competitors. You can start by narrative essay christmas, participating on public forums and blogs related to your business and adapting the essay, adage “give more to research get more”. How will your products be available? On one end of the spectrum is direct marketing, whereby you sell directly to trustworthy friendship your customers. Or if you manufacture your products, you might sell through distributors, who in math, turn sell to retailers, who in turn sell to consumers. Three common models:
Product is friendship stocked in mass-market distribution channels. Examples include soft drinks, magazines, etc. Product is specialized and essays burnham, sold through specialized channels. Examples include nautical computers and tooling/machinery. Product is only sold through an friendship essay, exclusive channel. Examples include luxury products such as high-end motorcycles or designer handbags. The Internet presents an criticism, unparalleled opportunity to reach customers directly, as well as working with online channel partners to reach and sell to customers. Writing the Strategy and friendship essay, Implementation Chapter. The strategy and implementation chapter will give you an opportunity to case define the key milestones that mark meaningful progress towards your goals.
It also includes sections that further elaborate on your competitors. Strategy and Implementation Sections. Milestones SWOT Analysis (optional) Competitive Edge (optional) Strategic Alliances (optional) Milestones are the key events that demonstrate progress is being made , such as completing the company’s first prototype or breaking even. These provide a tangible way to trustworthy essay measure the questions, success of the business venture. Milestones are so incredibly important to a business yet are one of those things that can be easily overlooked. Why are milestones so important? Because they are a way to measure meaningful progress of a company that in effect, makes that company less risky (and therefore more valuable). A new company has an extremely high-risk profile – but as it meets tangible milestones, such as completing a prototype or breaking even, the essay, company’s risk decreases. It becomes more apparent that the venture will succeed.
Investors and lenders will be looking at what milestones your company has reached in order to american beauty lester burnham create a fair valuation. Milestones might include: Assembling company team First working prototype Filing/receiving patent or other IP Securing physical location for store First paying customer Breaking even Turning a profit* *If you can demonstrate not only turning a profit, but also sustaining that profit, then that is a huge milestone. SWOT Analysis is a useful technique for understanding your company’s strengths and weaknesses , while identifying both the essay, opportunities open to your business and the threats it faces. Strengths and Weaknesses refer to internal factors in your company, such as: Employees and staff Physical assets such as equipment and facilities Financial assets. Opportunities and Threats refer to external factors facing your company, such as:
Market trends Regulatory and legal Macroeconomic conditions Competitors. Competitive edge can be bucketed into case answers, four primary areas: cost, differentiation, innovation and operational effectiveness. Are you providing a product/service at a lower cost then your competitors? This is a straightforward competitive edge that is very difficult to deliver. Providing the lowest cost may require operating on razor thin profit margins or heavy investment in fixed costs in trustworthy essay, order to christmas vacation achieve economies of essay, scale. Are you providing a product/service that your competitors are not offering or cannot offer?
This is a common strategy whereby you provide differentiated value in hesi case study chronic pancreatitis answers, order to better serve customers and/or reach a portion of the market that may be under-served. Are you leapfrogging your competition and providing a notably superior or new product/service? Popularized by the book “Blue Ocean Strategy”, creating new demand in an uncontested market space is a powerful business strategy. Do you provide superior time to market or customer service? For example, your customers may be willing to pay a higher price for better customer service . Friendship? Nordstrom’s is an example of a company that uses superior customer service as a competitive advantage. Forging strategic alliances is a commonplace occurrence in business. There are a wide variety of alliances you might encounter, with various parties in which you do business. Even if you do not have any alliances, there may be an opportunity for wal-mart, a partnership in the future and trustworthy essay, that should be included in this section. You might have a supplier who has a disproportionate amount of influence and power of your business.
Striking a partnership in case chronic pancreatitis answers, this case may decrease those risk factors and provide a competitive advantage over your competitors. You might have a large portion of your revenue coming from several key customers. Inking an exclusive agreement to lock in revenue would, for instance, give you predictable cash flow. It is not uncommon to partner with competitors under certain circumstances – for example, to set standards for trustworthy friendship essay, the industry or to help further adoption of a technology. For example, Sony and narrative, Panasonic partnered together to increase the adoption of Blu-ray DVDs. Aligning your brand with another company is frequently used, especially if both brands are targeting the essay, same demographic. Essay Using Psychoanalytic? For example, Samsung is the trustworthy, official sponsor of the Olympic games and will provide free mobile phones to hesi case study all Olympic athletes. Upon completing these sections, your strategy and friendship, implementation chapter will be finished.
Writing the Financial Plan, Statements, and study chronic pancreatitis answers, Sales Forecast Chapters. Writing the financial plan, financial statements, and sales forecast will be the most difficult part of your entire plan. It requires making a large number of intelligent assumptions about the size of the market you can realistically target, and the costs associated with making your product or rendering your services. These sections are the red meat of friendship, your plan — these are the chapters that any seasoned angel investor or venture capitalist will dig into to make sure they know they’re making a solid financial investment. Chapter 7: Financial Plan and Sales Forecast Sections. Sales Forecast Personnel Plan Budget Cash Flow Assumptions Loans and Investments Starting Balances Historical Financials Key Metrics for Success. Define the essay using psychoanalytic criticism, price in which you will sell your products and friendship essay, services, the cost it will take to produce or sell the american beauty lester, product/service, and friendship essay, the number of research wal-mart, units you will sell. Be conservative when making your estimates on the number of units you will sell, ensuring you have a reasonable methodology when making your forecast.
It is highly recommended that you first complete the following sections as they lay the foundation for defining the sales forecast. Products/Services section: Defines what you will sell and at what price point; also seeks to define the production cost Target Market section: Defines the size of your target market and trustworthy, what quantities you can sell. Tip: Your sales forecast should sync with your Sales and Marketing plan. For example, if you plan on hiring several sales people nine months from the start of your business, you should forecast an increase in sales thereafter. This is the price you will sell your products/services. Fixed price: Suitable for most sales forecast modeling Price changes over time: The price of vacation, your product/service may increase/decrease in trustworthy friendship essay, price over time for several reasons: Keep up with inflation Keep up with increased cost of raw materials or components Seasonal product – discount to research wal-mart papers offload excess inventory Promote new product – discount upfront to encourage sales, then increase later. This is the direct cost of producing your product/service (at the unit level). Otherwise known as cost of goods sold (COGS). Fixed costs: Suitable for trustworthy friendship, most sales forecast modeling % of sales: A good way to forecast costs; as sales increase you can set the cost as a % of sales on a sliding scale. Costs vary each month: The cost of your product/service may increase/decrease in price over time for grade math problems, several reasons: Economy of scale: the more units you produce, the cheaper it becomes to trustworthy essay produce them Bargaining power: the more units you buy from your supplies, the papers, cheaper they become Seasonality: cost of raw materials may fluctuate based on time of year. This is the expected number of units you will sell.
My units are constant: Not particularly suitable as most businesses will expect to have some growth over friendship, time. A Level Coursework? Units sold changes over time: The quantity sold of trustworthy, your product/service may increase over research wal-mart papers, time for several reasons: Growing market share Finding new markets. Sales tax requirements vary by trustworthy essay, country and by products/services sold. In the United States, there is no sales tax at the federal level; however, many states levy selective sales tax on particular goods or services. Check with your state department of vacation, taxation if you are required to trustworthy collect sales tax. If yes, you collect the sales tax from your customers and then remit the tax to the state each year. If the sixth grade problems, individual assumptions used for each component of the sales forecast is friendship essay accurate, so will the grade math problems, overall sales forecast. You should be able to explain where each number comes from, citing studies/research that validates your assumptions. The costs of hiring personnel are often the largest expense of trustworthy, any business. In this section, you will enter forecasted employees and contractors you plan to narrative vacation hire.
The number of trustworthy essay, personnel you plan to hire and at what time is more of an art then a science. Too much staff too soon and you’ll burn through your working capital. Too few staff and beauty essays, you’ll run the risk of alienating your customers and partners when you can’t deliver. A good way to think about your personnel plan is to friendship essay think about the papers, milestones you want your business to friendship accomplish and what personnel are required to get your business there. You can always revise your estimates, so start off with your best estimate and come back to narrative christmas this section later. Tweak as needed so that your business model demonstrates profitability within your target time frame. The type of company you are building and the financing required also makes a big difference in your staffing plan. For example, if you are seeking venture capital that mean you are going to want to hire and scale quickly in order to generate large revenues. Conversely, if you are seeking debt financing, you want to operate as lean as possible and maximize profitability so you can service your loans. Fixed amount: Suitable for most situations.
Changes over time: You might want to define a compensation plan for sales personnel that have an annual bonus component, for example. Employee: If choosing employee you will have to consider certain employee taxes and other considerations. Contractor: If selecting contractor, ensure that you are classifying said contractor correctly. In the United States, for friendship essay, example, you are legally required to provide employee-type benefits in certain situations even if you classify the personnel as a contractor. If hiring employees, you will be responsible for additional costs such as (but not limited to) payroll taxes, worker’s compensation and essay, health insurance, paid time off, training and travel expenses, vacation and sick leave, pension contributions and other benefits. This is referred to the burden rate, which provides a truer picture of total labor costs than payroll costs alone. Burden rate only essay affects employees and not contractors. If unsure what to problems enter, 15% is a fair estimate. Explain the assumptions and trustworthy essay, methodology used to define the personnel your business plans to retain, including how you came up with your compensation figures and burden rate. For example, you might explain that as you plan to hire several sales people to coincide with the hesi case study chronic pancreatitis, release of friendship essay, a new product.
Enter expenses you plan on incurring for your business. Sixth Math Problems? A good way to make sure you capture majority of your business’s expenses is to think through costs associated with each functional area of trustworthy, your business, such as product development, marketing and operations. Essay? Categorize expense into groups, such legal and administrative, rent and leases, and telecommunications. Do not include fixed asset expenses (assets whereby you derive value from for more than 12 months) such as a company van or computers. You will enter these in the next step. Advertising Expense Amortization Expense Auto Expense Bad Debt Expense Bank Charges Cash Over and Short Commission Expense Depreciation Expense Employee Benefit Program Freight Expense Gifts Expense Insurance – General Interest Expense Professional Fees License Expense Maintenance Expense Meals and Entertainment Office Expense Payroll Taxes Printing Postage Rent Repairs Expense Salaries Expense Supplies Expense Taxes – FIT Expense Utilities Expense Gain/Loss on Sale of Assets. Enter long-term asset expenses here. Friendship Essay? Long-term assets are comprised of hesi pancreatitis, two types: tangible and trustworthy friendship essay, intangible assets.
Fixed assets are tangible assets that provide value for more than 12 months, such as a company van or computers. Fixed assets are depreciated over coursework, its useful lifetime. This is an accounting method that allows the business to allocate the costs of the asset over trustworthy friendship, its life by gradually reducing its value. Common fixed assets: Land and Buildings Motor vehicles Furniture Office equipment Fixtures and fittings Plant and narrative essay christmas, machinery. Intangible assets are long-term assets that are not physical in nature. Intangible assets are amortized over its useful life. These might include:
Intellectual property (items such as patents, trademarks, copyrights, business methodologies) Goodwill Brand recognition. Enter other short-term assets here, which most likely will be any prepaid expense that lasts for less than 12 months. Besides prepaid expenses, other current assets also include short-term investments and securities that are likely to turned into cash within a year. A prepaid expense can be described as such: A 12-month office lease is signed with the total lease amount of $12,000 being paid upfront. Trustworthy Friendship? Classifying this as a regular expense would not be accurate because then the PL Statement and Cash Flow Statement would both show the psychoanalytic criticism, $12,000 as a one-time upfront payment on the month it which it was made. Friendship Essay? This type of expense is research papers better described as a prepaid expense, since the use of the office is spread out over a 12-month period of time and can be considered an friendship essay, asset on the Balance Sheet that is expensed over time.
By classifying this as a prepaid expense (or an amortized short term asset) then the PL Statement would show the essay, $12,000 prepaid expense spread across 12 months at trustworthy friendship $1,000 each month, while the Cash Flow Statement would reflect the $12,000 payment on month in which it was made. Under Assets, the Balance Sheet would then show the amount of essay, Prepaid Lease that is remaining at the end of the accounting period. Enter an estimate for income taxes you expect to pay, which should be a summation of federal, state and local income tax. Do not include other taxes such as property tax (should be entered as a separate expense) or employee-related taxes (this is covered in the Personnel Section as the Burden Rate). Essay? As this is only an estimate, 100% accuracy is not required (if unsure what to enter here, use 20%). Dividends and distributions (for corporations and questions, LLCs/partnerships, respectively) are payments to friendship essay the company’s shareholders/owners, taken from the company’s profit. Dividends are typically paid out at research the end of the fiscal year, while distributions can be given out at the discretion of the owners. You may want to essay set this to zero initially and see how the financials of your business model work out; then you can work backwards and determine how much of retained profit you want to distribute to owners/shareholders. Here you can explain any regular costs that are associated with running your business. What are the monthly or ongoing costs that you must pay to keep the business up and running?
For example, this could be paying monthly utilities and rent expenses for your office space, insurance, or any marketing or advertising costs. For a start-up, remember that there are always up-front costs or one-time costs associated with getting things started, so be aware of any of these expenses and include them in your budget. Accounts receivable is defined as sales that the company has made but has yet to collect the hesi study, money from the purchaser. Most companies operate by allowing some portion of their sales to be on credit. These types of sales are usually made to essay frequent or special customers who are invoiced periodically, and allow them to avoid the hassle of psychoanalytic criticism, physically making payments as each transaction occurs. Trustworthy Essay? You want your accounts receivable to be as low as possible to increase your cash flow. Defining what percentage of your sales will be on credit. You want this percentage to be as low as possible, while keeping in mind that for coursework, some businesses it is preferential to provide some credit to your best customers. Defining how long it will take to collect payment. Of the customers that you provide credit to, you need to trustworthy friendship define when they are to psychoanalytic pay you back.
The faster, the better your cash flow will look like. It is typical to provide net-30, which is 30 days. Accounts payable is defined as short-term debt owed to trustworthy friendship essay suppliers and banks. It is to your advantage to negotiate longer payment terms with your suppliers, as it will improve your cash flow. When looking at accounts receivable (what is owed to you) and accounts payable (what you owe), the key thing to remember is that you want to be paid as soon as possible, and you want to american burnham pay others as late as possible (cash on hand is trustworthy essay king). Defining what percentage of your purchases will be on credit. You want this percentage to be as high as possible, as that will improve your cash flow. However, ensure you are able to pay your vendors on the purchases made on credit. Defining how long it will take to chronic answers collect incoming payments.
How many days will it take, on average, to trustworthy friendship collect incoming payments? Select the typical number of days between when you make a credit sale and american essays lester, when the payment arrives. Keep in mind that shortening this period can vastly improve your cash flow. If your business will sell physical products and you plan on keeping inventory on hand, then you need to define how many months of trustworthy friendship essay, inventory you wish to keep on hand. The more months of questions, inventory you hold on hand, the friendship, more cash is tied up in inventory. This will affect your cash flow. How much inventory should you carry?
The ideal amount varies from sixth math problems, industry to industry, and trustworthy friendship essay, business to business. Questions? A good place to find more information is trade associations for your industry. In order to improve your company’s inventory management, you will need to start by collecting good records on your inventory. Using inventory turnover rate as an trustworthy, indicator. Inventory Turnover Rate = Costs of Goods Sold (COGS) / average cost of inventory on hand.
A low inventory turnover rate means that you may have too much inventory on hand. Understanding and math, managing cash flow is very important to any business. The time period for friendship essay, credit sales and payments may depend on your suppliers or your industry. Narrative Christmas Vacation? Paying and getting paid later rather than earlier can entirely change your cash flow projections. You can utilize this section to explain any assumptions about cash flow, including details on the time period in which you will make and receive payments.
How did you come to these assumptions and how will it affect your business? When taking out a loan, you borrow an amount of money (principal) from a lender, and are obligated to pay back at trustworthy essay a later time (usually in installments). You will typically pay interest on the loan. If you are seeking a loan then enter the amount, as you want to forecast the financials assuming you have secured the loan. Personal vs Commercial Loans. For many small businesses, taking out a personal loan to coursework finance growth is commonplace.
These might include credit cards, home equity line of credit (HELOC), and installment loans. If you have an existing small business, commercial loans can be obtained, which are based on a variety of factors. Secured vs Unsecured Loans. A secured loan is a loan in which you pledge some asset (equipment, property, etc.) as collateral. Friendship? Unsecured loans (credit cards, personal loans) are not secured against a borrower’s assets. Interest rates will be higher for unsecured loans versus secured loans, for obvious reasons. If you have a pre-existing loan, then you can specify those details in the Starting Balances section. A line of credit is similar to a loan with the difference being that interest is not charged on sixth the part of the line of credit that is trustworthy essay unused, and the borrower can draw on vacation the line of credit at any time that he or she needs to. If you are seeking a line of credit then enter the amount, as you want to forecast the financials assuming you have secured the line of trustworthy friendship essay, credit. The line of credit may be classified as a demand loan, which means that any outstanding balance will have to be paid immediately at the financial institution’s request. Investments include injections of case study pancreatitis answers, cash into the business from trustworthy essay, you, other shareholders or owners, or investors.
This typically refers to equity investments where investors contribute cash to the business in exchange for equity (ownership). In this section, you can describe how your business will be funded. If you are a startup, it is a level coursework questions likely that the money you make from sales will not cover all your business expenses so you may need additional sources of funding, such as taking out friendship a loan, receiving investors’ capital, credit lines, or other ways of case chronic pancreatitis answers, borrowing money. What type of trustworthy friendship, funding will you acquire? At what point in your plan are you expecting these funds? For existing businesses only. The starting balances will be used to adjust the balance sheet to wal-mart papers take into account your company’s financial history. Important: all starting balances should be entered as they are at the start of your plan. Enter starting balances for assets: Cash Accounts Receivable Inventory Other current assets Long term assets Accumulated depreciation.
Enter starting balances for liabilities: Enter starting balance for Capital and Earnings: Enter your Recent Sales: One month before start date Two months before start date Three months before start date Four months before start date Five months before start date Six months before start date. If you are an trustworthy friendship essay, existing business, you can enter past financial data here. This is optional and will be used to calculate historical financial ratios in the Financial Statements section. For each year of your company history , include: $ Sales $ Gross profit $ Income from operations $ Net profit $ Current assets $ Current liabilities $ Inventory $ Total assets $ Total liabilities $ Total owner equity. Every business model has several key metrics that management can use to see if the business is healthy. Research Wal-mart Papers? For example, a restaurant might use the number of tables it can turn per trustworthy friendship essay night and grade math problems, the average revenue per dinner.
Think about what levers make the most impact to your business. You will want to friendship essay continuously track and monitor these metrics to ensure your business model is narrative working. Chapter 8: Financial Statements Sections. Profit and Loss Statements Balance Sheet Cash Flow Statement Financial Ratios. The Profit Loss (i.e.; income statement) shows your revenue, expenses, and profit. It is the essay, most common of the three reports as it provides a view into the company’s projected “bottom line”. The statement here is study pancreatitis answers a read-only display, calculated automatically from the information you entered in the Sales Forecast, Budget, and trustworthy, Personnel Plan sections. Answers? If you wish to edit or change any information, you may do so by going back to those sections.
The statement here will update automatically. The balance sheet gives a snapshot of your company’s financial position at trustworthy a given point in time, usually the last day of narrative essay christmas, a fiscal period. It is called a balance sheet because assets (what you own) will always equal the friendship essay, sum of your liabilities (what you owe) and stockholder’s equity (your investments from stockholders plus money that your business earned that is chronic pancreatitis answers put back into running your business). The balance sheet here is a read-only display. Essay? If you wish to change the balance sheet, you can do so by going back to the builder in research wal-mart papers, the Financial Plan section. If you are an existing business, you have the option of adding starting balances under the Financial Plan section.
The cash flow statement displays the friendship essay, cash inflows and outflows from hesi case chronic, your operating, investing and financing activities. Rather than providing an overview like the balance sheet, the cash flow statement will measure the change in cash during a period. In other words, how much money did you start and end up with? The statement here is a read-only display. You can go back to edit the sections in the Financial Plan section in order to change the accounts affected in the cash flow statement. The Financial Ratios section gives a general overview of the trustworthy, health of your business. The report here is a read-only display. If you wish to change any of the information, you may do so by editing the relevant financial information you’ve entered previously. The ratios here will update automatically. The Liquidity Analysis shows how solvent your company is, or how easily convertible to essay christmas vacation cash is the company in case. This is important in determining the ability of the business to meet its obligations, or paying off what it owes in debt.
The Profitability Analysis shows the overall performance of the company in its ability to make a profit. Trustworthy? The ratios show how much of sales revenue is actual profit after taking costs and expenses into account. The Debt Ratio shows how much of the case study chronic pancreatitis answers, business’s assets are financed by debt and trustworthy friendship essay, how much of the essay, business’s assets are financed by stockholders’ equity. The Investment Measures show ROI (Return on Investment) which is the percentage of the return (net profit) of the business divided by the cost of the investment. The most common method of essay, calculating ROI is to problems divide net profit by total assets. Finishing these chapters represents a massive achievement in completing your business plan. It is by far the most difficult chapter, as it requires doing somewhat complicated math to generate accurate financial statements.
In all likelihood, you will need to trustworthy essay hire an expert or accountant to help you create an accurate and detailed plan that adheres to sixth realistic outcomes. To finish it off, you’ll need to write an friendship, appendix and a glossary of terms. American Burnham? Your appendix will be a more detailed version of the essay, financial statements detailed in this chapter, and essay christmas vacation, your glossary of terms will simply define the terms of your business that an investor may not understand. Upon including those chapters, your plan will be complete. Feeling inspired to start a business, but don’t know how to write a plan? We have a sample database of plans that you can look through to learn the essay, different chapters and sections necessary to math problems attract equity investments and friendship essay, loans. Although our examples are specific to using each industry, keep in mind that every plan will be unique depending on your location, your customer base, and trustworthy essay, your own vision, so these will only serve as a starting point for you and your dream. Click the images to view our full business examples. 4. The Pros and Cons of Downloading a Business Plan Template.
1. Write with confidence — you won’t be forgetting any important information. Using this free template can help you write your own plan, without the hassle of figuring out how to order your chapters, or the worry of feeling like you might be missing a section. We provide the research, entire bare bones skeleton of a business plan within this Microsoft Word .doc download. After you download it, it’s up to friendship essay you to flesh out the narrative essay, details and ensure that each section is as well researched and intelligently conceived as possible. 2. Step-by-step writing guide and writing samples included. Our plans come with a complete how-to guide with examples from our professional business plan samples to help steer you through your writing. 3. Completely free – no hidden costs, just download and essay, start writing. This plan is american beauty lester completely free. You may encounter other people or websites on the Internet charging a price to download the guide. Trustworthy Friendship Essay? Do not purchase them – there is no benefit at all to purchasing a pre-fabricated plan. None of the information will be relevant to your company, and problems, you’ll be gaining nothing but the order and structure of the plan – something that you could easily research and essay, re-create on your own.
Sound good? Keep in grade, mind that while this guide may give you a better idea of how a it should be structured, that represents only about 5% of the heavy lifting of writing an actual the complete document. Don’t forget that every plan needs well structured elevator pitch. 1. You’ll have to do complicated business planning math and calculations yourself — or pay an expensive rate for friendship essay, someone else to do them. You’re going to have to do the financial calculations, plans, and hesi case study chronic answers, forecasts that a plan should offer to friendship essay attract investment — all by yourself. Creating these sections requires years of training, math skills, market knowledge, and investment savvy. This requirement is beyond the essay vacation, scope of most peoples’ abilities, which is why entrepreneurs turn to professional writers and accountants to do the essay, heavy lifting for them. Keep in mind: You may have a brilliant idea, but until you’ve subjected your product/service to meticulous research, and calculated your potential market as conservatively as possible, your business idea will be nothing but empty words and blather to case chronic pancreatitis answers a seasoned investor. 2. Trustworthy Friendship? You’ll need to manually create visual graphs and charts to make the calculations easily understandable. You’ll need to take the numbers you calculated and create attractive graphs, charts, and tables for hesi case pancreatitis, your plan. Making your data attractive and friendship essay, easy to essay criticism comprehend is friendship no easy task.
Professional planning software can not only do the essay using criticism, calculations for you, but will also turn them into trustworthy essay, relevant graphs, charts, and tables presented in american, the appropriate order, according to how equity investors and bank loan officers expect to friendship see them. 3. A basic template won’t allow you to track your business’ progress. You won’t be able to keep your company’s information up to date easily. One of the major benefits of using software is that you can continually update your numbers based on christmas your real expenses and earnings, allowing you to track the progress of your business easily and without a major hassle. Nonetheless, we encourage you to trustworthy download this document and get started with writing out your product/service concepts and marketing plan. If or when you encounter the financial sections, we’ll be looking forward to helping your progress through the case study chronic answers, major obstacles of trustworthy friendship essay, writing a successful strategy that will help you get funding for your ideas. Crafted by licensed attorneys Updated regularly Applicable to all 50 states. Create your free. Business Plan Template document in christmas vacation, only 5-10 minutes!
Copyright 2017 Legal Templates LLC. Friendship? Legal Templates LLC is not a lawyer, or a law firm and does not engage in the practice of law. Legal Templates cannot and does not provide legal advice or legal representation. All information, software and services provided on the site are for informational purposes and self-help only and are not intended to be a substitute for a lawyer or professional legal advice. Narrative Christmas Vacation? Use of trustworthy essay, this site is subject to research papers our Terms of friendship essay, Use. Preview Document - Business Plan Template.
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How To Write A Resume Summary: 21 Best Examples You Will See. What is the best way to start a resume? The Ladder's research found that recruiters spend an trustworthy essay, average of 6 seconds looking at grade problems your resume! Yeah, you read that right. That means you've got to give recruiters what they want to essay see in the blink of an eye . Essay! But how? A little something called a resume summary . A good resume summary puts the trustworthy friendship essay, information recruiters are looking for first. In this article, I will explain how to write a resume summary that gives recruiters what they want most . A Level Coursework Questions! And I will explain how to showcase that information so that it catches the employer’s attention. A great resume summary goes at the top of the page - in trustworthy, the most prominent position. Use it to math problems attract recruiters' attention. Here is a template from our resume builder (create your resume) . See how the resume summary sample stands out?
A resume summary is a short, snappy introduction highlighting your career progress and skill set. An example of a resume summary looks like this: Administrative Assistant with +3 years of experience in a sensitive corporate environment. Outgoing and detail-oriented, I am proficient at building and maintaining professional relationships. Have an Associate's Degree in Office Administration. Administrative Assistant seeking meaninful work in a corporate environment where I can learn and trustworthy friendship essay, develop my skills. A resume summary is also known as: Think of it as an “elevator pitch” or “sales pitch” that you can use anytime someone says: Pro Tip: If you're looking for samples of resumes and research wal-mart, summaries for specific professions, you may also want to take a look at trustworthy essay our resume examples section. Resume Summary vs. Objective: What’s the Difference?
The difference between a general resume summary and a resume objective looks like this: You are at a party. Let’s call you Robert. Your wingman approaches the girl you like. Robert likes girls and wants to hesi study pancreatitis answers leverage his skills to essay marry one. Boyfriend Material experienced at laying coats over mud puddles, opening doors, and pulling out chairs. Charming, funny, and a great conversationalist seeking to leverage 10+ years of experience delivering anecdotes to entertain you through boring social events. Has an MA in hand holding and a license to cook romantic dinners. Which wingman is going to get Robert the girl? The resume objective was acceptable a long time ago when dinosaurs roamed the Earth.
All you had to do at the beginning of essay psychoanalytic criticism a resume was write a one-liner that told the recruiter: 2. That you want the job. Then a meteor came and smashed into the Earth, and all the resume objectives died. Resume objectives are still extremely useful for certain types of job seekers. So, Who Should Use a Professional Resume Summary? Resume summaries are for people with years of experience who are not making a career change. You should consider writing a resume objective if you have no experience, are in the middle of trustworthy essay a career change, or have some gaps in your job history. If you think that a resume objective would be a better fit for you, read our full guide on questions how to friendship essay write resume objectives: +20 Resume Objective Examples - Use Them On Your Resume (Tips) And Where Does a Resume Summary Statement Go on a Resume?
A professional summary for a resume should go at the top under the contact information. You will find that experts will refer to this space as “prime real estate” - the penthouse of research wal-mart papers your resume. Whatever you put there will be the first thing a recruiter will see when they look at your resume. When the resume summary section is trustworthy first, a hiring manager sees your value right now. So, don't waste the space. How Long Should a Career Summary on a Resume Be? Depending on who you ask, you will be told that a good example of a resume summary is essay using criticism anywhere from three to six sentences. As I mentioned in the beginning, an average recruiter will only spend six seconds looking at a resume.
That converts to about 20 or 30 words, which is trustworthy friendship around the length of a Tweet. You should also pay attention to coursework the fact that a reader scanning a document will skip over large blocks of text. With that in mind, you should consider keeping your personal resume summary statement on the shorter side: Around 3 sentences or 50 words. Pro Tip: Resume summaries tend to be short. Trustworthy Friendship! Take a look at a sample resume template from our resume builder. You can create a similar resume here. A resume template from our resume builder - create your resume here. How to Write a Resume Summary in 7 Easy Steps. 1. A Level Coursework Questions! How to Start a Summary With a Few of Your Best Accomplishments.
When you start writing a professional summary for essay a resume, it is best to sit down for american beauty essays a moment and think back over the long span of trustworthy your career. What are my brightest moments? What am I proud of achieving? What do I love most about questions, what I do? What do I do best? Once you’ve brainstormed, make a list of your achievements (about six bullet points). This is trustworthy friendship your master list. Here is what it would look like if you were, for example, Indiana Jones: Indy’s Master List of Accomplishments and Top Skills. Found the lester, Ark of the trustworthy friendship essay, Covenant.
Found the Sankara Stones. Found the Holy Grail. Questions! Effectively able to dispatch Nazi bad guys. Proficient in the use of a bullwhip. Able to fly planes, ride horses, and trustworthy friendship essay, commandeer motorcycles. Keep in mind that these are the brightest moments and hesi case chronic answers, can come from friendship essay any point in your career. Now make a quick list of your top transferable skills. Transferable skills are skills that you can use in any job . For example, being able to write or being able to hesi answers speak fluent Spanish. Research and analytical thinking skills (70% of my work is done in the library). Excellent cultural sensitivity. Trustworthy Friendship Essay! Able to work in a high-stress, fast-paced environment.
Linguist (Speak fluent German, Hindi, and Mandarin Chinese - among other languages). Now you have a master list of your achievements and a master list of your transferable skills. Set these aside for research a moment. And make sure you read this article to find out trustworthy what skills are currently the most desirable for resumes. You will also find actionable tips on how to showcase your skills on a resume, and a pretty cool infographic featuring R2D2. What does R2D2 have to do with resume skills? Find out here.
2. Scan the Job Post - Find out What the Employer Needs. Keywords are the particular skills or qualities an research wal-mart, employer lists in a job post. Highlight or underline the keyword skills that you find in trustworthy friendship essay, your job description. Who are they looking for? What value do they want an employee to provide? What extra skills or qualities not listed would add unexpected value? Indy’s Job Description - Cocktail Server.
3. Research the Job - Find Out What is Valuable. Find a few similar job posts. Again, highlight or underline all of the keyword skills and requirements. Compare the new keywords to those in your job description. Anything that does not have a duplicate could add extra value to case study pancreatitis your resume. Look up other professionals on LinkedIn with the same job as the one you want. Their skills section should give you a sense of what recruiters value in that profession. 4. Friendship Essay! Tailor Your List - Make Your Skills List a Recruiter’s Wish List.
Which of my skills and research papers, accomplishments match those listed in the job description? How do my accomplishments and skills position me to solve the employer’s problems? What details can I add for trustworthy amplification (numbers, details, proof like certificates or awards)? 5. Start With Your Title to Define Yourself Out of the essay using, Gate. Starting a professional summary for trustworthy friendship essay a resume with your professional title allows a recruiter to essay using psychoanalytic know right away that your resume is relevant. Pro Tip: Make your professional title bold in order to draw attention to it, so that it is easy for essay recruiters to find. You will also want to research add the number of years you worked in that position. Sassy Marketing Manager with 5+ years of essay experience.
6. Focus on Specific Results to Prove and Demonstrate Value. Now it’s time to go back to your master list. Condense your list of 6 accomplishments down to about 3 concise and specific sentences. As you describe your accomplishments and skills, add numbers, details, and proof. Psychoanalytic! Focusing on friendship essay quantifiable results in a career summary for using psychoanalytic criticism a resume does a couple of trustworthy friendship essay things:
Draws the eye of the research wal-mart papers, recruiter and essay, gives them a tangible sense of what you’ve achieved. Provides proof that your claims are more than just hot air. Sets you above other candidates who did not elaborate on their accomplishments. A Level Questions! Helps the recruiter imagine you achieving the same results for them. Indy’s Professional Resume Summary Sample.
Cocktail Waiter Improved collection of trustworthy friendship tickets onboard German zeppelin by 100%. An analytical, fast learner with 2+ years of experience in global, on-demand service positions on zeppelins, boats, and trains. Leveraged extensive cultural and linguistic knowledge (Mandarin Chinese and Hindi) to recover the Sankara Stones while maintaining the highest level of narrative christmas vacation customer service. Trustworthy Friendship! Able to american lester burnham endure exposure to friendship essay elements such as lava and sixth grade problems, snake pits, and able to physically outmaneuver such obstacles as giant boulders in boobytrapped tombs. Guest Services, Sales, and People Skills Able to Learn and Master New Information Basic Math Bilingual Extensive Physical Activity Exposure to Elements. As you can see, Indy starts his sample resume summary statement by opening with the title of the job (one of his professional titles) and a headline. His headline is supported by details: He then adds five of the six skills from the trustworthy, job description that match his skill set to narrative essay vacation his resume summary . He also adds details to amplify the information:
“Linguistic knowledge” is amplified by “Mandarin Chinese and Hindi,” which also covers the “Bilingual” language bonus from the job description. He avoids the first person, has added keywords like “exposure to elements,” and has added extra value by exhibiting experience in wait service on various modes of friendship essay transportation that might be interesting to an employer seeking a waiter to serve drinks on a boat. Dr. Jones has also managed to squeeze in a transferable skill - “cultural sensitivity/knowledge.” 7. The Name Drop - A Tried and True Way to essay christmas vacation Generate Interest. Mention the organizations, clients, and trustworthy, past employers that you’ve worked for using psychoanalytic where appropriate.
Name dropping is an old marketing technique that you can use when writing a resume summary for a resume to impress and establish authority and credibility. One word of warning: Employers could see name dropping as unprofessional snobbery. Trustworthy Essay! You need to make sure you don’t cross the narrative vacation, line. Also, you don't want to name drop confidential clients - because, you know, they're confidential. What you can do instead is say: I worked with top, global clients from (insert specific industry here) . It is best to trustworthy essay name drop when it proves the thing you want to show the hiring manager in a professional summary for a resume. The candidate who did it right has name dropped to prove that her clients are large, multi-national companies. The 7 Dos and Don’ts of Writing a Resume Summary. 1. Psychoanalytic Criticism! Consider Adding a Headline for Extra Oomph. After you write your title, you can add a headline that sums up the main benefits of trustworthy hiring you.
Improved collection of tickets onboard German zeppelin by a level coursework questions, 100%. 2. Microsoft Word is Not an friendship, Accomplishment So Leave It Out. Leave your core competencies for the skills section of your resume. The resume summary section is for essay criticism your best skills and keyword skills. Microsoft Office is boring and pedestrian. Your mom, your sister, and your dog can all use Word. And to further avoid being boring in essay, a professional summary for a resume, consider using action verbs to describe your best skills. Avoid boring adjectives like “articulate” or “innovative.” Also, get rid of overused verbs like “managed” or “organized.” Action verbs are energetic and specific: Don’t go overboard. You don’t want to sound like a Freshman English major flexing a large vocabulary for the sake of it.
Remember that you should use keywords even if they are adjectives. There is a good chance that your resume will be fed through an Applicant Tracking System (ATS). The ATS will scan your resume for keywords from the job description. So you need to include them throughout your resume. 3. Ditch the First Person Pronouns to Focus on the Employer. By skipping the “I” and “me” stuff, your resume summary section will stay focused on grade math problems the employer. When you use the trustworthy friendship, third person and the present tense, a recruiter will be able to envision you doing that work for them. Here are some resume summary statement examples with and without the first person. If you think it's more appropriate to use the first person, you should. It's up to you to decide. 4. Ignore Tasks You Hate For Your Sake.
When you are making lists of what to include on a resume don’t add anything you hate doing. Same goes for a summary in a resume. If you hate doing something (even if you are really good at it), leave it. You will just get stuck doing it again at your new job, and it won’t make you happy. 5. Avoid Being Generic By Tailoring Each Resume Summary to the Job. Yes, that’s right. Every time you respond to essay psychoanalytic a different job post, you will need to write a new resume summary. The professional resume summary is friendship essay only at peak effectiveness if you tailor it to fit one job description. So, if you are applying for christmas 100 jobs, you need 100 resume summaries. You don't have to rewrite the entire thing. You can simply retouch your best resume summary by changing keywords.
Just make sure that it is trustworthy tailored to the job post. How long should a resume be? In a word: short. Some experts will tell you about the “one-page rule.” You should aim for one page, but resumes are not glass slippers. Papers! You do not need to cram everything on one page like an ugly stepsister if it doesn't fit. A good rule of thumb is to essay condense resume sections like the resume summary section at the end of the writing process. Trim the fat and keep it lean. Good professional summary examples don't exceed a paragraph of text or a few bullet points. If you're having trouble with the papers, length of trustworthy friendship your resume, have a look at our guide on resume length: How Long Should A Resume Be?
Everything You Need To Know 7. Avoid the christmas, Cardinal Sin of Resume Writing. No good will come out of lying on your resume - even if it’s just a little white lie. Maybe you aren’t as good at creating spreadsheets as you made it sound. Good luck explaining that when an trustworthy friendship essay, elaborate spreadsheet is your first task. Let's say you lie in your hobbies section - you say you like Game of Thrones when you don't. Who cares? Maybe the rabid fan who is conducting your interview. Now you know nothing, Jon Snow. Uh oh.
The best resume summary grabs recruiters’ attention by shouting out: And this is useful when it falls into a level coursework the hands of a bored and overworked recruiter. In three punchy lines, you can show anyone reading your resume the brightest moments of friendship your career and grade problems, your dazzling set of skills. Bonus: Download these super-actionable examples of resume summaries that match real job posts here: Resume Summary Examples for Your Profession.” Do you have any question about how to write a great resume summary for your position? Leave a comment. I'll be happy to friendship answer. Natalie is research wal-mart papers a writer at Uptowork.
She loves writing about resumes and eating tacos more than life itself. She spends her free time reading complicated novels and binge watching TV series.