The accounts receivable turns over six times a year, or once every 60 days. This figure can be roughly checked by referring to the expenses on the income statement.
As you might suspect, the structure of the marketing section varies from business to business and from entrepreneur to entrepreneur. In our discussion, however, we will introduce you to a format that is most often used by business plan writers.
This is not to say that you can not deviate away from the suggested structure, because you can. Below separately discusses each component; beginning with The Market Description. If there are any major barriers or obstacles that will effect your entry in to the industry, they too should be discussed.
If you have not yet identified, in your business plan, the industry's Key Success Factor's or Driving Forces, be sure to address them under your Market Description. Many business owners and aspiring entrepreneurs experience difficulty when searching for Industry information.
Much of the industry information can be found in trade publications, business magazines, from marketing firms, through the chamber of commerce, from the Small Business Administration, through Business Service Centers, over the Internet, from suppliers, and so on Knowing the characteristics, attributes, behaviors, and traits of your customers is extremely important to the success of your business.
Experts suggest that three segmentation variables may be used to help entrepreneurs define or predict who their customers will be, namely; Demographics, Geographics, and Phychographics. Determine which variables relate to your business and potential customers.
Geographic Segmentation is used to identify specific regions, city sizes, and densities. What regions will your customer live in? What is the City Size of these regions and how many people are in your target market? Will you focus your marketing efforts only in urban areas, suburban areas or rural areas?
Below depicts examples of Geographic Segmentation Variables? Demographic Segmentation Variables are most often used to develop a customer profile. Demographic Segmentation divides the market into groups based upon variables such as age, sex, family size, income, education and so on.
Below depicts examples of Demographic Segmentation Variables.
What groups are most likely to buy your product? What sex will more readily purchase your product? If sex a major issue?
Is family size a major issue in the purchase of your product?Business Plan Writing. Business Plan Issues. Manage Your Business. Contact info - Read about Cash Flow Budget. Don´t wait for the perfect opportunity.
Start taking action, based on what you have readily available: who you are, what you know, and who you know. Example of an Operating Budget. Cash Flow Budget - inspiring template to.
Professional Business Budget Template. This comprehensive budget template is ideal for larger, more established businesses: it offers one sheet for estimated expenditures (labor costs, office expenses, marketing spending, travel fees, etc.), and another sheet to plot expenses that accrue.
Business Forms & Templates. Get instant access to hundreds of business forms, templates, and contracts online today. Find documents for almost every kind of business such as purchase orders. Oct 03, · A Standard Business Plan Outline [Updated for ] Others like to focus on the numbers first, so they start with a sales forecast or spending budget.
Start where you like, and get going. A healthy business planning process will always involve circling back often to check results and revise as necessary. Cash flow is the single most /5(). I have already explained that cash budgeting is estimation of future receipts and payments of cash.
It is helpful to analyze the flow of cash. It is also helpful to plan and control our expenses payment. With this, we can find future need of cash. An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals..
One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.