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Watch This Video Before Starting Your Flipping Business Plan PDF!

Checklist for Starting a Flipping 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 Flipping 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 Flipping 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 Flipping business.
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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 Flipping 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

Selection of Trainees

Once you have decided what training is necessary and where it is needed, the next decision is who should be trained? For a small business, this question is crucial. Training an employee is expensive, especially when he or she leaves your firm for a better job. Therefore, it is important to carefully select who will be trained.

Training programs should be designed to consider the ability of the employee to learn the material and to use it effectively, and to make the most efficient use of resources possible. It is also important that employees be motivated by the training experience. Employee failure in the program is not only damaging to the employee but a waste of money as well. Selecting the right trainees is important to the success of the program.

Training Goals

The goals of the training program should relate directly to the needs determined by the assessment process outlined above. Course objectives should clearly state what behavior or skill will be changed as a result of the training and should relate to the mission and strategic plan of the company. Goals should include milestones to help take the employee from where he or she is today to where the firm wants him or her in the future. Setting goals helps to evaluate the training program and also to motivate employees. Allowing employees to participate in setting goals increases the probability of success.

Training Methods

There are two broad types of training available to small businesses: on-the-job and off-the-job techniques. Individual circumstances and the "who," "what" and "why" of your training program

determine which method to use.

On-the-job training is delivered to employees while they perform their regular jobs. In this way, they do not lose time while they are learning. After a plan is developed for what should be taught, employees should be informed of the details. A timetable should be established with periodic evaluations to inform employees about their progress. On-the-job techniques include orientations, job instruction training, apprenticeships, internships and assistantships, job rotation and coaching.

Off-the-job techniques include lectures, special study, films, television conferences or discussions, case studies, role playing, simulation, programmed instruction and laboratory training. Most of these techniques can be used by small businesses although, some may be too costly.

Orientations are for new employees. The first several days on the job are crucial in the success of new employees. This point is illustrated by the fact that 60 percent of all employees who quit do so in the first ten days. Orientation training should emphasize the following topics:

The company's history and mission.

The key members in the organization.

The key members in the department, and how the department helps fulfill the mission of the company.

Personnel rules and regulations.

Some companies use verbal presentations while others have written presentations. Many small businesses convey these topics in one-on-one orientations. No matter what method is used, it is important that the newcomer understand his or her new place of employment.

Lectures present training material verbally and are used when the goal is to present a great deal of material to many people. It is more cost effective to lecture to a group than to train people individually. Lecturing is one-way communication and as such may not be the most effective way to train. Also, it is hard to ensure that the entire audience understands a topic on the same level; by targeting the average attendee you may undertrain some and lose others. Despite these drawbacks, lecturing is the most cost-effective way of reaching large audiences.

Role playing and simulation are training techniques that attempt to bring realistic decision making situations to the trainee. Likely problems and alternative solutions are presented for discussion. The adage there is no better trainer than experience is exemplified with this type of training. Experienced employees can describe real world experiences, and can help in and learn from developing the solutions to these simulations. This method is cost effective and is used in marketing and management training.

Audiovisual methods such as television, videotapes and films are the most effective means of providing real world conditions and situations in a short time. One advantage is that the presentation is the same no matter how many times it's played. This is not true with lectures, which can change as the speaker is changed or can be influenced by outside constraints. The major flaw with the audiovisual method is that it does not allow for questions and interactions with the speaker, nor does it allow for changes in the presentation for different audiences.

Job rotation involves moving an employee through a series of jobs so he or she can get a good feel for the tasks that are associated with different jobs. It is usually used in training for supervisory positions. The employee learns a little about everything. This is a good strategy for small businesses because of the many jobs an employee may be asked to do.

Apprenticeships develop employees who can do many different tasks. They usually involve several related groups of skills that allow the apprentice to practice a particular trade, and they take place over a long period of time in which the apprentice works for, and with, the senior skilled worker. Apprenticeships are especially appropriate for jobs requiring production skills.

Internships and assistantships are usually a combination of classroom and on-the-job training. They are often used to train prospective managers or marketing personnel.

Programmed learning, computer-aided instruction and interactive video all have one thing in common: they allow the trainee to learn at his or her own pace. Also, they allow material already learned to be bypassed in favor of material with which a trainee is having difficulty. After the introductory period, the instructor need not be present, and the trainee can learn as his or her time allows. These methods sound good, but may be beyond the resources of some small businesses.

Laboratory training is conducted for groups by skilled trainers. It usually is conducted at a neutral site and is used by upper- and middle management trainees to develop a spirit of teamwork and an increased ability to deal with management and peers. It can be costly and usually is offered by larger small businesses.

Trainers

Who actually conducts the training depends on the type of training needed and who will be receiving it. On-the-job training is conducted mostly by supervisors; off-the-job training, by either in-house personnel or outside instructors.

In-house training is the daily responsibility of supervisors and employees. Supervisors are ultimately responsible for the productivity and, therefore, the training of their subordinates. These supervisors should be taught the techniques of good training. They must be aware of the knowledge and skills necessary to make a productive employee. Trainers should be taught to establish goals and objectives for their training and to determine how these objectives can be used to influence the productivity of their departments. They also must be aware of how adults learn and how best to communicate with adults. Small businesses need to develop their supervisors' training capabilities by sending them to courses on training methods. The investment will pay off in increased productivity.

 

Evaluate your budget periodically with actual operations statistics. With powerful records you can do this. Then, where
discrepancies appear it is possible to take corrective action before it's too late. The right choices for the right corrective
action depends upon your knowledge of management techniques in purchasing, pricing, selling, selecting and training personnel, and
tackling other management issues.

You're thinking you are able to employ a bookkeeper or a Accountant to deal with the record keeping for you. Yes, you can. But
remember two very important facts:

1. Supply the accountant with accurate input. If you buy something And do not record the sum in your organization checkbook, the
accountant can't enter it. Should you sell something for cash and do not record it, the accountant won't understand about it. The
documents the accountant prepares will probably be no better than the information you provide.

2. Utilize the records to make conclusions. If you went to a physician And he told you you were ill and needed certain medication
to get well, you'd follow his advice. If you pay an accountant and he informs you your sales are down this season, don't hide your
head in the sand and pretend that the issue will go away. It won't.

Business Management Roll in Personnel Selection. If your Small Business Will be big enough to require outside help, an important
duty will be the selection and training of one or more employees. You may begin with relatives or business partners to assist you.
But when the company grows - as you expect it will - that the time will come when you must select and train personnel.

Careful choice of personnel is vital. To Pick the right Employees determine beforehand what you want each one to perform.

Then look for applicants to fulfill these particular needs. In a small Business you will need flexible employees who can shift
from task to task as required. Include this in the description of all those tasks you would like to fill. At precisely the same
time, look ahead and organize your hiring to assure an organization of people capable of accomplishing every crucial role. At a
retail store, a salesperson might also do stock-keeping or accounting at the outset, but as the company grows you will need sales
people, stock-keepers and bookkeepers.

Once the project descriptions are composed, line up applicants from whom To make a selection. Do not be swayed by customers who
might suggest relatives. In the event the applicant does not succeed, you might lose a customer as well as a worker. Some sources
of potential new employees are:

1. Recommendations with friends, business acquaintances. 2. Employment agencies. 3. Placement bureaus of top schools, business
schools, and colleges. 4. Trade and industrial associations. 5. Help-wanted ads in neighborhood papers.

Your next job is to display want ad answers or program Forms delivered by employment agencies. Some applicants will be removed
sight unseen. For each of those other people, the application form or letter will act as a basis for the interview that ought to
be conducted in private. Put the applicant at ease by describing your company generally and the occupation in particular. As soon
as you have done this, invite the applicant to speak. Picking the right person is extremely important. Ask your questions
carefully to find out everything about the applicant that's pertinent to this job.

References are a must, and should be checked before making a final decision. Check through an individual visit or a telephone call
directly to the applicant's immediate previous supervisor, if at all possible. Confirm that the information given you is accurate.
Consider, with judgment, any negative comments you hear and what is not said.

Checking references can bring to light important Details Which may save you money and future inconvenience.

Personnel Training. A well-selected employee is only a possible Asset to your organization. Whether or not he or she becomes a
true asset depends upon your training. Remember:

To allow adequate time for training. Not to anticipate too much from The trainee in too brief a time. To allow the employee learn
by doing under actual working conditions, with close oversight. To follow along with your training.

Check the worker's performance after he or she has been at work For a time. Re-explain important points and short cuts; bring the
employee up to date on new developments and encourage questions. Training is an ongoing process which becomes excruciating
supervision.

Personnel Supervision. Supervision is the third crucial of employees control. Fantastic supervision will reduce the cost of
operating your company by cutting back on the number of worker errors. When mistakes are corrected early, workers will find more
satisfaction from their jobs and perform much better.

Motivating Employees. Small businesses occasionally face special Issues in motivating employees. In a large business, a Fantastic
employee can see An chance to progress into management. In a small business, you are the management. 1 thing you Might Wish to
Think about would be to give great employees a Small share of their proceeds, either through part-ownership or even a
profit-sharing plan. Someone who has a"share of the activity" will be more Concerned about helping to make a success of the
business.

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