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Watch This Video Before Starting Your Abaya Business Plan PDF!

Checklist for Starting a Abaya Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Abaya business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel.

Here’s Your Free Abaya Business Plan DOC

This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your Abaya business.
Click Here! To get your free business plan template

Free Book for You: How to Start a Business from Scratch (PDF)

A Step by Step Guide to Starting a Small Business
This is a practical manual in a PDF format, that will walk you step by step through all the essential phases of starting your Abaya business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

Copy the following link to your browser and save the file to your PC:

https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf

What You Need to Know Before you Start

So you are thinking of going into business. This can have advantages and disadvantages. Running a business of your own will bring a sense of independence, and a sense of accomplishment. You will be the boss, and you can't be fired, though there may be days when you would welcome it. Because you can pay yourself a salary and the profit or return on your investment will also be yours, you anticipate a good income once your business is established. You will experience a pride in ownership - such as you experience if you own your own home or your own automobile. You can derive great satisfaction from offering a product or service which is valued in the market place.

By being boss you can adopt new ideas quickly. Since your enterprise undoubtedly will be a small business - at least in the beginning - you will have no large, unwieldy organization to retrain, no board to get permission from, each time you wish to try something new. If the idea doesn't work you can drop it just as quickly. This opportunity for flexibility is one of small businesses greatest assets.

These are some of the advantages and pleasures of operating your own business. Now take a look at the other side. If you have employees, you must meet a payroll week after week. You must always have money to pay creditors - the man who sells you goods or materials, the dealer who furnishes fixtures and equipment, the landlord if you rent, the mortgage holder if you are buying your place of business, the publisher running your advertisements, the tax collector, and many others. All of these must be paid before you can consider the "profits" yours.

You must accept sole responsibility for all final decisions. A wrong judgment on your part can result in losses not only to yourself but, possibly, to your employees, creditors, and customers as well. Moreover, you must withstand, alone, adverse situations caused by circumstances frequently beyond your control, To overcome these business setbacks and keep your business profitable means long hours of hard work. It could very well not be the work you want to do. As someone else's employee you developed a skill. Now, starting a business of your own, you may expect to use that skill 40 or more hours a week. Instead, you must perform the management tasks as well. You must keep the books, analyze accounting records, sit back and do long range planning, jump and handle the expediting and, when everyone has gone home and you finally have caught up with the paper work, you may even have to sweep the floor.

As your business grows and you become more successful, you may not do some of these activities. As an owner-manager, however, you must - at least at first - give up the technical aspects you know and enjoy doing, and focus on the management aspects. To get your business off to a successful start, you must be a manager not an operator.

You will never be entirely your own boss.

No matter what you choose - manufacturing, wholesaling, retailing or service business - you must always satisfy your customers. If you don't give the customers what they want, they'll go somewhere else and you'll be out of business. So every customer, or even potential customer, is your boss. Your creditors will also dictate to you, and your competitors' actions may force you to make decisions you don't want to make. National and local government agencies will insist that you meet certain standards and follow certain regulations. The one thing you can decide yourself is how you will satisfy all of these bosses.

Are You the Type?

The first question you should answer after recognizing that there are two sides to the prospect of establishing your own business is "Am I the type?"

You will be your most important employee. It is more important that you rate yourself objectively than how you rate any prospective employee. Appraise your strengths and your weaknesses. As a prospective operator of your own business, acknowledge that you are weak in certain areas and cover the deficiency by either retraining yourself or hiring someone with the necessary skill.

Numerous studies have been made of small business managers over the years. Many look at traits and characteristics that appear common to most people who start their own businesses. Other studies focus on characteristics that seem to appear frequently in successful owner-managers.

First, consider those characteristics that seem to distinguish the person who opens a business from the person who works for someone else. These studies investigated successful and unsuccessful owners, some of whom went bankrupt several times. Some were successful only after the second or third try. The characteristics they share might almost be said to predispose a person into trying to start a business. Of course, not all of these characteristics appear in every small business owner-manager, but the following seem to be most predominate.

 

 

Say that you're the type who's starting new small business. You Have given focus to the general chances for success, and have
chosen the new company you want to establish.

What technical problems will you face in starting your organization? How Much money will you need for starting new small business?
Where can you get it? What kind of business organization will you own? Where should you locate the company? (start business tips
to follow along )

The very first question you need to answer is: Just how much cash will I need? But this question can't be answered until several
other questions are answered and several choices are made.

To Determine how much money is Required to start a company, enter all Of your potential income and all of your planned expenses
onto a work sheet or kind.

Even though you might feel that this kind of preparation is more than You have to initiate a simple small business it is useful to
begin with this particular approach to management which puts down figures in black and white. You will find the same approach
valuable within an established small business.

First, estimate your sales quantity. This will depend on the overall Amount of business in the area, the number and ability of
opponents now sharing that business, and your own capability to compete for the customer's dollar. Obtain assistance in producing
your sales estimate from wholesalers, trade associations, your banker, and other business-people. Several company and statistical
publications may be useful in making sales volume estimates.

In reaching your final quote of sales do not be over-enthusiastic. A brand new business generally grows slowly at the beginning.
Should you overestimate sales you are likely to invest too much in equipment and first inventory, and commit to thicker operating
expenses than your actual sales volume will warrant. As you're just starting up you might have no sales for the first couple of
months. At any rate you may expect your first few weeks to be very low.

You must also decide what percentage of your earnings will be cash And what percentage will be sold on credit. If you estimate
that a particular part of the sales are going to be on credit then you must figure when you are going to get the money for all
these sales. 1 month? 2 months? More? Never?

In our guide to beginning new small business, estimate how Much money will be paid out. Bear in mind that in starting a company
you may be purchasing gear, paying fees and licenses, which makes deposits on lease, utilities and so forth, several months until
you open the doorway. A few of those expenses are easy to estimate. If you've opted to rent a building (more about that later)
then you know what your deposits will be and how much you'll have to pay out monthly. You are probably able to get the cost of
fees, licenses and utility deposits with a few telephone calls.

Other cost figures might take a little more work for you. 1 way Is to obtain average operating ratios for the type of business in
which you are interested. Among the resources for such ratios are Dun & Bradstreet, Inc., trade associations, publishers of trade
magazines, technical accounting companies, industrial companies, and schools and universities. The typical ratios for your type of
business multiplied by your estimated sales volume will serve as bench marks for estimating the various items of expenditure. But
do not rely exclusively on this way of estimating each expense item. Verify and modify these estimates through evaluation and
quotes in the particular market area where you intend to operate.

Do not forget to pay yourself also. You Might Need cash to live on if You have to quit your job. If your spouse is working and can
encourage the family for some time you might not need to withdraw cash from the business. The more time you can go without taking
cash out, the faster you will build up a solid cash position. Now you've estimated your money receipts and expenses, write down
the quantity of money you will put in the company to begin. This goes online 1 at the case below. Then add lines 1 and 2 for your
first month to get line 3. Then add up all the expenses to find 5. Subtract line 5 from line 3 to get line 6. This money in the
end of month 1 then goes to line 1 to the start of the following month, and so on.

If you continue this for the Whole year, very soon you will find You have negative numbers or a negative cash flow. About this
time you'll also understand that you ought to be working on this kind with a pencil that has a good eraser.

In this overly-simplified case, you see that from the end of June you are minus $200 in money. Two options can be tried - reduce
your buys at June by $200 or start with $200 more. You might not be able to reduce costs (they will likely go up as your company
starts). So you'll need to put in $200 more to begin with. If all you've got is $4000 then the extra $200 you need is funding you
need to get from somewhere else.

Do not be misled by this simple illustration. Many small businesses Begin with the $200, and try to get the $4000 from somewhere
else. Since a Major cause of failure in the early phases of a company is Under-capitalization, be very careful in your preparation
at this stage. You can Almost always aim on some unexpected expenses and some delays in anticipated income.

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