Category: Business News

The Role of the Finance Division in Making a Business Plan

Posted on By Rihanna

Business PlanA business plan is a plan that must be made by a company so that its business program is more focused on the future. In a business plan, there is a revenue projection section and business financial planning.

A business plan is only a conceptual or verbal guide until some numbers are included to complete the estimate.

The finance section in a business plan will always play an important role because finance is one of the components that determine the possibility of financing all plans.

The finance department will also determine how good financial planning is so that it can be used as a proposal to submit additional funds to banks and other investors.

The following is an important role for the finance department as well as financial reports. To determine good financial planning in a business plan.

Start with a Sales Forecast

Prepare a spreadsheet or columnar sheet on which to project your sales over the next three years. Prepare different sections for different sales lines and columns for each month for the first, second, and third year. The estimates you should have in your spreadsheet include unit sales, prices, x unit prices, and unit costs.

Calculating the cost of sales in the estimated sales transaction will let you know the estimated gross profit earned by the company in the planning period.

Make a Budget before the Projected Business Income Plan

An expense budget is needed so that you understand how much finance it will take to make the sales you’re estimating.

In this cost budget, you usually have to distinguish between fixed costs. Such as rent and payroll, and variable costs, such as advertising and promotion costs.

A lower estimate of fixed costs in a business plan indicates less financial risk.

Develop a Cash Flow Statement

One of the important things in the issue of investment policy is to estimate the expenditure of money that will be received from the investment in the future.

To evaluate various alternatives for budgeting for capital goods/investments. The company must determine the appropriate cash flow, namely data on net cash flow from an investment.

Analysis of the company’s cash flow can be used as a basis for research to see the extent to which business activities can accumulatively cover the funds invested to drive the company’s operational activities.

Projected Business Income Plan

This is a pro forma profit and loss, and a detailed forecast of your business for the next three years.

However, what is a pro forma invoice? A Proforma invoice means a type of temporary invoice that is issued before the delivery of the goods in their entirety. Its purpose is to provide an overview of the costs of products and services.

Then to calculate projected income in a business plan. You can use the numbers that have been included in your sales forecast, projected expenses, and cash flow statement.

Calculating Assets & Liabilities

To have a good business plan, you must know how much the value of assets and liabilities that the company still has. By knowing the value of the company’s assets. You can have a prediction of the costs required to maintain these assets.

Do you have to buy new assets or eliminate the budget for some asset items because they are no longer needed by the company? Then find out what you have as a liability which means debt. Both from the purchase debt that you have not paid off or from a business capital loan.

By knowing the company’s liabilities, you will know the finances that must be set aside to make it part of the financing budget.

Breakeven Point Analysis

When your company has made sales in the previous year and has a proven cost calculation at the breakeven point. Then you can continue the analysis as part of the business plan for the following year.

Making a breakeven point analysis is useful if you have plans to get additional funds in the form of investments from outside the company.

Because potential investors usually always want to know that they have invested in a fast-growing business.

Journals Help You in Projecting Income for Your Business Plan!

Having a business plan is the same as having a financial plan. To facilitate financial calculations in planning. You can start using the warehouse stock application.

The journal is equipped with complete financial reports ranging from balance sheets, income statements, cash flows,  and so on. With complete financial reports, you can have a more precise and accurate financial planning analysis in a business plan.

Through the journal’s expense recording and asset management features. You can also find out how much the company’s expenses and assets have to be developed in the future. Also, take advantage of inventory management software to help manage your inventory.

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Strategies to Improve Franchise Business Marketing

Posted on By Rihanna

Business MarketingThe franchise business is currently growing very rapidly, so, commonly, the competition in it is quite fierce. Want to know what are the right strategies to increase franchise business marketing? Let’s take a look at this article!

Although this business is growing very rapidly and has fierce competition, the business opportunity is still quite wide as long as you know how to use the right marketing strategy.

What is a Franchise Business?

Franchise business is one form of business that many entrepreneurs glance at today, both beginners and experienced businessmen.

This franchise business concept allows someone who has material capital but is less experienced in building his own business to own a business.

By buying a franchise from a well-known trademark.

But many people are still hesitant to start this franchise business, for various reasons. Some are afraid of losing, some feel incapable and afraid of going bankrupt.

Therefore you need to implement some of the right strategies for your franchise business.

Strategy to Improve Franchise Business Marketing to Get Maximum Profit

The following are tips for you so that your franchise business can generate maximum profits.

Do Market Identification

Entrepreneurs must know who will be the initial sales target of the product. Market identification is done so that franchise business sales are right on target.

Identify a very high market demand in a region. Know the trends that are happening in society today and what the opportunities are in the future.

By carrying out a market identification strategy, a franchise business that you have will be by market needs so that there is minimal risk of loss and course has the opportunity to improve marketing.

Get to know the Brand, Fee Terms, and Franchise System

When choosing a franchise, the most important point to consider is the distribution of fees. Each franchisor has its own rules in terms of fee distribution.

In order not to feel disadvantaged in the future, you should be more careful in studying the fee-sharing system. Also study, indications or the possibility of the franchisor changing its policies in the future, because usually,

The franchisor will evaluate the royalty distribution policy. In essence, research before deciding to choose the type of franchise that you will later live in.

Strategic location

The next strategy you can do to improve franchise business marketing is clear, choosing a strategic location can bring in more consumers. Although it doesn’t always have to be in the mall or other public places.

You can choose a busy location, and of course according to the target market.

Try to look carefully at the target market in several places such as offices, campuses, markets, to hospitals.

Not only are being able to reach more consumers, but a strategic location can also increase sales, so the turnover you get will be even greater.

Ensure Franchise Business License

The next point to consider is business licenses. Make sure the business license owned by the business is clear and the products produced can be accounted for.

Do not let you choose the wrong one so that the business you are developing must go out of business because of legal problems. Therefore, a business license is one of the most important points in this franchise business.

Choose the Franchise Most Consumers Are Looking For

If a type of product or item is liked by many people, of course, it is good for your business.

The franchise business that is most sought after by consumers today is a culinary franchise business.

Almost in every corner of the city, there must be this culinary business.

You also have to do a survey or observation by looking directly at the franchise business strategy that you are going to run.

Employee Training and Product Quality

You must always pay attention to the quality and quality of the franchise produced by the standards set by the franchisor.

In addition, provide guidance and supervision to your employees. So that the quality of your franchise products is maintained. Because these two points are very important for the sustainability of your franchise business.

Many things affect business and influence consumers to consume an item.

Most consumers don’t care about price anymore because quality is now the most important thing. Because quality will be known through a brand that has been recognized by a society or community.

Therefore, the franchise business is very popular in Indonesia.

In addition to the points above, you also need the right bookkeeping application such as a Journal, to make it easier for you to control the financial management of this franchise business.

Have a Character Brand

Business competition is always there and cannot be avoided. To win a competition in the franchise business, you must have a unique or distinctive character, namely a branding strategy.

Have a brand name that …

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Business Tips: Things to Do in Online Marketing Strategy

Posted on By Rihanna

Business In response to survey outcomes, promoting online can present 80% larger revenue for your business than promoting offline. For the issue of attaining, online media will be wider. Customers can discover the merchandise you’ve wherever so long as they’re linked to the Web. Earlier than you do advertising, it is a good suggestion to know the issues you need to do to do advertising.

Social Media

From yr to yr, social media customers are growing. This makes media advertising using social media an efficient one to introduce the merchandise you’ve used social media. You solely must create a social media account, it may be Fb, Instagram, Twitter, and so forth.

Then fill it with attention-grabbing content material and constantly publish attention-grabbing issues which are interspersed with promotions for the merchandise you’ve.

For instance, if you promote a culinary business, you may make posting the meals you promote as enticing as attainable and clarify in regards to the product by including an attention-grabbing caption in it.

Create Web site

Though these days there are various social media and online boards that can be utilized for promotion. The website stays a superb online advertising medium in the long run. By having an internet site, clients can have extra confidence in your online business.

They may attempt to discover details about your online business using a Google search, and if your online business isn’t present in it, clients might imagine your online business isn’t good.

If you have already got an internet site, you even have to use search engine marketing strategies properly. This makes it simpler for patrons to seek out you thru the Google search engine.

E-mail Advertising

E-mail advertising is an efficient and focused advertising software. By utilizing this electronic mail advertising, as an SME proprietor. You’ll be able to ship data about new merchandise, attention-grabbing promos, and other essential data.

By utilizing this advertising technique, you too can get nearer to customers and potential clients. So that the connection between the 2 may be properly established. This after all can even affect the extent of loyalty of your clients or customers.

Buyer Testimonials

Critiques and testimonials from clients are confirmed to be efficient in growing shopper confidence in a product. Particularly for potential customers who nonetheless have doubts about whether or not the product to be bought is sweet or not.

So that the worth of critiques and testimonials is all the time good, you need to present the very best service and merchandise with good high quality so that customers are glad about the merchandise they purchase.

Open Reseller Program

The reseller system is unquestionable in right now’s online advertising. With reseller advertising, the merchandise you’ve can have wider market attain and decrease prices.

Nevertheless, it ought to be famous to be able to keep away from a value battle between resellers. You want to apply a minimal value for every product bought using resellers. As well as, giving bonuses to the very best resellers will improve the passion of resellers to market merchandise.

Blogger Critiques

Critiques from well-known bloggers do not solely appeal to readers from blogs in regards to the business you’re selling. However, these blogger critiques additionally impact growing the rating of your website and growing new customer site visitors to your website.

Earlier than selecting a blogger to assess merchandise, you higher verify first the standard of the weblog. If it feels good you’ll be able to contact him to work with him.

Use Advert Supplier Websites

By utilizing an advert supplier website for promotional media, you routinely have to arrange extra funds for promoting prices. You should use Google Adwords, Fb Advertisements, Instagram Advertisements, and different promoting providers.

By utilizing promoting to advertise your online business, you’re focusing on based on the merchandise you’re promoting. So the prices that come out will probably be proportional to the outcomes obtained.

Register on Market

There are lots of marketplaces in Indonesia you can attempt. Furthermore, many of the marketplaces in Indonesia have low prices and even freebies. You solely must give attention to the merchandise being bought, and product optimization and promotion issues will probably be carried out by the marketplace so you do not have to trouble with them.

The web advertising technique for SME merchandise is essential and continues to be extensively open. Earlier than deciding to make an advertising technique, you can begin by checking your online business funds.

By taking a look at business monetary statements, you’ll be able to extra simply decide what advertising methods you can do. After all, this will probably be simpler if you happen to use the correct small business bookkeeping software.

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Developing an Effective Marketing Strategy for Culinary Business

Posted on By Rihanna

Culinary BusinessHaving a business in the food sector that continues to grow from time to time is the main goal of every culinary business person. One of the factors causing the slow or fast development of your business is greatly influenced by the marketing strategy used.

To get optimal marketing results, then you need to develop an effective strategy. Below we will describe the 4 stages in developing an effective marketing strategy for the culinary business

Do a SWOT Analysis

Strength

  • What unique food products will you create.
  • Do you have product standardization.
  • Is the technology you use to produce a better quality product than competitors.
  • Do you have a fast and accurate information technology system?
  • Do you have reliable human resources?
  • Do you have a reference source for quality raw materials at low prices?
  • Are you able to sell your product better than your competitors?
  • Are you able to perform cost efficiency in all lines of business departments?

Weaknesses

If the answer to the question in the opportunity column above is no, then categorize it as your weakness. Try to find out if your competitors are doing something better, and whether you can improve it, or if you can do better than them.

Opportunities

  • Get to know what food products are currently trending.
  • Know the opportunities for certain types of food products that you can develop.
  • Take advantage of market opportunities that have not been exploited by competitors.

Threats

  • Get to know the management and technology you use, whether they have standardization and can adapt to the times or not.
  • Is your financial ability able to support all the business activities you plan.

Integrate Marketing Mix

Integrate the important elements of marketing into a single entity that you can control to increase sales, consisting of product, price, place, and promotion.

The culinary business is experiencing quite fierce competition. Those who can produce quality products, competitive prices, effective distribution channels, and reliable marketing strategies can only reach consumers.

Choose the Right Promotional Media

Entering the advancement of the digitalization era, effective marketing strategies have begun to penetrate the field of social media. There are many social media that you can use for free. Choose the one that suits your culinary business.

For example, if you are engaged in healthy food, maybe your culinary business can join many diet groups on various social media, or if you are a special food service provider for children and babies, then you can join a parenting group.

By choosing the right promotional media, your business marketing will be effective and save costs.

Apply Optimal Service

Having loyal customers is an advantage for your culinary business. Create a harmonious relationship with all our customers.

Get in the habit of establishing relationships through newsletters or emails with your customers. Create an open channel to accommodate their aspirations about products and services.

Once in a while, send out promotions to introduce new food product variants to customers to try. By having good interactions with customers, your culinary business has established a harmonious relationship as a marketing strategy.

From the 4 stages of the marketing strategy above, you can judge that before you start a plan to market a product, you must have a fairly good financial calculation.

To make the right business plan, you must look at the numbers on the business financial statements.

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Business Tips for Calculating a Branding Budget

Posted on By Rihanna

businessThe most common way to calculate a branding promotion budget for a business is to set a percentage of sales value. The value of this percentage varies. For small businesses, a branding fee of 5% can be budgeted from the estimated sales results.

For example, if the estimated sales value this year is IDR 300 million. Then the funds that need to be allocated for branding costs are 5% or IDR 15 million.

Modifications will depend on several factors specific to our business, such as how long the business has been running. The types of products or services offered, how far the location of the business is, and the type of consumers targeted.

It may be necessary to allocate more promotional budget to new businesses selling innovative products.

For an established business, with a better distribution network and a low level of competition, the budget for branding can be made smaller.

Keep in mind that all branding activities should be viewed as a business investment. Not as a cost-intensive activity.

Promotion is also not only necessary if we have more funds.

And this investment must also be profitable. So the branding costs incurred must be doubled again in the form of sales value.

There is no point in spending any promotional funds, no matter how small their value is if they don’t produce results.

Complete Your Business with Journal Accounting Application

Journal of online accounting software with cost features, making it easier for you to calculate the required branding costs.

With the estimated cost calculation feature that the Journal has, you can get convenience in managing business expenses in just 1 minute. Ease in viewing expense categories, reviewing cost slips, and convenience in storing proof of payment.

Also, try other Journal features like the simple stock app.

The explanation above is about branding complete with elements, types, and goals. Hopefully, the information above is useful.

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Business Tips: Get To Know Branding

Posted on By Rihanna

Business Whereas the notion of branding is numerous sorts of communication actions carried out by an organization to construct and elevate a model so that it’s higher identified to the general public. Still curious about branding for your business? Don’t miss this tips article for growing your company!

Definition of Branding is

What’s branding? Branding is the method of making a robust constructive notion of an organization, its services, or products within the minds of consumers by incorporating components akin to logos, designs, mission statements, and themes which might be constant all through advertising communications.

Efficient branding helps firms differentiate themselves from business competitors and construct a loyal buyer base.

This means prospects anticipate your tone of voice to be identified via electronic mail, your website, customer support, and each different level of contact in your online business.

In case you’re rebranding, you will want to vary your emblem and color, and style all over the place, online and offline.

Ensure you create constant branding so your prospects are glad along with your omnichannel presence.

Why is Branding Vital for Your business?

A novel branding technique can have a big impact on your backside line by providing you with an aggressive edge over opponents and serving to you purchase and retain prospects at a considerably decrease price.

In eCommerce, the place new opponents are popping up day after day, the proper branding may be a useful asset in bringing in prospects and making revenue.

We advocate that you simply deal with constructing your model via tales, relationships, advertising methods, and visible belongings.

Good branding is strategic, whereas advertising is tactical.

Once you set targets by clearly defining your branding, you’ll be able to start to develop an advertising technique that’s geared in direction of reaching these targets.

Branding Components Are

The weather of branding embrace:

  • Model identify or model.
  • Brand (logotype, monogram, flag).
  • Visible look (product design, packaging design, uniform design, and so on.).
  • Spokesperson (co-founder, mascot, company determine, well-known particular person).
  • Sound (thematic track, icon sound/tone).
  • Phrases (slogans, taglines, jingles, acronyms).

Kinds of Branding Are

The next is proof of the sorts of branding based mostly on their operation or goal:

  • Product Branding. The goal is to encourage customers to desire merchandise that might be branded in such an approach than different merchandise.
  • Private Branding. Private branding is advertising software used to lift the identity of a public determine, akin to politicians, musicians, celebrities, and so forth. With that approach, the general public determines will get the specified picture in the eyes of the general public.
  • Company Branding. Company branding aims to enhance the popularity of an organization in a selected market. Covers all points of the corporate from the merchandise/companies supplied to the contribution of their workers to society.
  • Geographic Branding. The goal is to convey an image of a service or product when the identity of the placement is talked about by somebody.
  • Cultural Branding. Goals to develop popularity relating to the surroundings and folks of a selected location or nationality.

Capabilities & Function of Branding in business Growth

There are no less than 4 capabilities of branding, together with:

  • As a differentiator. Merchandise that has already got a robust model shall be simply distinguished from different manufacturers.
  • Promotion & attraction . Merchandise that has a robust model will appeal to customers and shall be simpler to advertise to the broader group.
  • Construct picture, confidence, high-quality assurance, and status. The operation of branding is to kind the picture of a model to make a product simple to recollect by others.
  • Market controller. A robust model shall be simpler to regulate the market as a result of individuals already knowing, believing, and bearing in mind the model.

The Primary Basis in Figuring out Branding

In case you are fascinated by the way to rebrand your online business, its services, or products. Or if you wish to assess the present place of your model, there are several key points you need to take into account:

Large concept

You possibly can summarize what makes you different, what you supply, why you do it, and the way you’ll current it.

A giant concept can be a unifying idea that may convey collectively a sequence of disparate actions. Ideally, this can inform everything you do, large or small. Together with customer support, promotion, website order varieties, workers’ uniforms, firm identification, maybe proper down to your answering machine messages.

To outline your large concept, it’s good to take a deeper take look at your online business and market.

Some necessary factors you need to take into consideration:

  • How will you stand out?
  • What options do you supply?
  • What makes you different?
  • What’s your ‘persona’?
  • What do customers need or want?

To assist with this course, it is often useful to at a door’s perspective …

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Reasons Why Business Need Social Media

Posted on By Rihanna

Business Social media is a web-based media the place customers can simply take part, share, create content material or write. Within the digital period like now, young children to adults will need to have social media. This makes it simpler so that you can present varied info for varied ages. Not just for sharing info, however social media has additionally turned into a method of speaking and interacting online to do business advertising and marketing.

As an entrepreneur who has simply begun a business, discovering and discovering a goal market is likely one of the toughest issues. However, almost definitely you’ll be able to obtain this by using social media.

Not solely that, however, social media also can not directly enable you to develop your small business. Listed below are some of the explanations for why you will need to have social media.

Get to Know Clients Nearer

The important thing to success in a business is to get to know its prospects extra intently. By having social media for business, the client recognition course turns simpler.

Strive to utilize assist instruments like Fb Perception to study the dominant language spoken amongst social media customers (age or gender).

This info may help within the means of branding and promotion to the best goal.

In utilizing it, you additionally want to have a look at the age developments of every social media consumer as a reference in selecting promotional channels to create content material that may entice targets.

Listening to Clients’ Needs

Constructive and damaging suggestions from shoppers are likely one of the essential issues that may enhance the standard of business for the higher.

Via social media, it is possible for you to rapidly obtain suggestions from prospects. Often, they’ll ship feedback on a submit or ship direct messages immediately.

With social media, you may also discover what prospects need and want.

Social media may also be one of many instruments to measure the extent of buyer satisfaction with the services or products you’ve.

Reply Shortly

After prospects reply by way of social media, as a superb firm, you will need to reply to all suggestions correctly and rapidly. If before now prospects complained by phone, now they’ll submit complaints using social media.

Nonetheless, most corporations solely deal with answering complaints by phone and ignoring complaints using social media. Complaints on social media will be learned rapidly by prospects who comply with your social media.

So by no means ignore a single touch upon social media and attempt to make SOPs in dealing with complaints and questions using social media.

Seeing Market Business Competitors

Via social media, you will get varied info from rivals. From the knowledge obtained, you’ll be able to analyze the knowledge to search out the strengths and weaknesses of rivals to enhance advertising and marketing methods.

Strive to concentrate on rivals ‘ followers and see how they market their merchandise. Armed with this info, you’ll be able to simply create advertising and marketing methods and plans, to develop content material that matches the goal.

You can too begin creating digital promos by sharing referral codes or creating social media actions equivalent to picture contests or quizzes to draw and enhance market competitiveness.

Improve Your Business Website Guests

The extra guests to the website, the better the prospect that your product can be bought.

In this case, social media advertising and marketing may help enhance website guests and have an optimistic influence on website rankings on Google pages.

When you have fascinating content material, your website also can get a variety of site visitors which has an optimistic influence on search engine optimization. So, to extend guests and site visitors to the website, remember to supply a hyperlink in every one of your social media posts.

However, it’s also essential to concentrate on what content material you’ll submit so that it doesn’t match the supposed hyperlink.

These are a number of the explanation for why you need to begin having social media as an organization asset. With social media, your prospects can extra simply discover and discover details about the services or products you promote.

Along with social media to research and entice prospects, you additionally want monetary experiences for business improvement.

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