Checklist for Starting a Kayak Rental 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 Kayak Rental 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.
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 Kayak Rental 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
Learning how to negotiate removes pressure, stress and
friction from your life. You see, negotiating is like chess --
if you don't know how to play you will be intimidated by the
activity, especially if your opponent knows the game.
Negotiating is a predicable event that has rules, planned moves,
and counter moves. But, unlike chess, negotiating is an activity
you can't avoid, so learn the rules. This article discusses the
five underlying facts about negotiating, win-win negotiating,
and the definition of a good negotiator.
Five Underlying Facts About Negotiating
1. You are negotiating all the time.
Whether you are buying supplies, selling products or services,
discussing pay with employees, buying a car, disagreeing with
your spouse, or dealing with your children, you are always
negotiating. It's just that some of what you negotiate, are
considered by you as normal activity.
2. Everything you want is presently owned or
controlled by someone else. Doesn't that
statement seem like "a given?" But think of the implications. To
get what you want means you have to negotiate with the person
that has it.
3. There are predictable responses to strategic
maneuvers or gambits. It is critical to
understand this because if strategies are predictable then they
can be managed. If a gambit such as "nibbling" for extras at the
end of a negotiation is employed on you then you can request
"trade-offs" to either stop it or get extras for yourself.
4. There are three critical factors to every
negotiation:
The understanding of power
-- Who has the power in the negotiation? Understanding this will
help you in your strategies. Does the person you are dealing
with have the power to make the decision? Are you in a weak
negotiating position? If so, can you bring in factors or
strategies that mitigate that?
The information factor --
What the opponent wants, what they require, and understanding
the elements about the object negotiated for are all
informational items that are critical for a smooth negotiation
or to use to your advantage.
The time element -- Time
is an important element to negotiation. If someone wants your
product but is desperate because they need it quickly, it's a
big factor in the strength of your position. You know they have
little time to compare other products. You can guarantee speed
for more money.
5. People are different and have different
personality styles that must be accounted for in negotiations.
Strategies are affected by the people within the negotiation. If
you play to the needs and desires of the person, you will be
more successful in the negotiation.
Win-Win Negotiating
Understanding the underlying facts about negotiations gives you
a base to work from in any negotiation, but win-win is a central
theme that must be concentrated on. Keep in mind three simple
rules:
1. Never narrow negotiations down to one issue.
Doing so leaves the participants in the position of having a
winner or a loser. When single-issue negotiations become a
factor, broaden the scope of the negotiations. If immediate
delivery is important to a customer and you can't meet the
schedule, maybe a partial shipment will resolve their problem
while you produce the rest.
2. Never assume you know what the other party
wants. What you think you are negotiating
for may be totally different from what they are. You may be
selling them on quality, when what they need is medium quality,
low price and large volume. Always keep an eye on their wants
and needs.
3. Understand that people are different and
have different perspectives on negotiations.
Some may want to negotiate and build a long term business
relationship. Others may want the deal, and a handshake and it's
over. Price is generally an important factor but never assume
that money is the only issue. Other issues can change the price
they are willing to accept or the price you are willing to
accept, like financing, quality, and speed.
The Negotiator
Let's now direct our attention to the
negotiator - You. To be a good negotiator requires five things:
1. Understand that negotiating is always a
two-way affair - If you ignore that fact,
you will ignore the needs of the other party and put a stake in
the heart of the negotiation.
2. Desire to acquire the skills of negotiating
- Negotiating is a learned activity.
Constantly evaluate your performance and determine how you can
improve.
3. Understand how the human factor and gambits
affect negotiating - Knowing one gambit
and using it always is not enough. It may not work on some
people. They may have an affective counter to the gambit. Then
you are lost or may not recognize tactics being used on you.
4. Be willing to practice
- Pay attention to what you are doing during negotiations.
Plan them and re-evaluate your performance. Prepare for
negotiations by practicing with someone.
5. Desire to create Win-Win situations
- You don't want to negotiate with someone who only wants to
destroy you. If you both win, a future deal is possible.
As you understand the rules and the process of
negotiations, the stress, pressure and friction that currently
get in your way will disappear. You will actually learn to enjoy
the process.
Predict Your Future. Don't use a crystal
ball to make forecasts of your business. By carefully assessing
the historic trends of
your business, as shown on your
records for the previous five years, you can forecast for the
year ahead. Your record of earnings,
your experience with the
markets in which you market, and your overall understanding of
the economy ought to enable you to predict
a sales figure for
the next calendar year.
When you have a Sales prediction
figure, make up a budget showing your costs as a proportion of
the figure. Within the following
year, you can compare real
P&L amounts to your budgeted figures. Thus, your financial plan
is an important tool for determining
the health of your
enterprise.
Make Timely Decisions. Without action,
predictions and conclusions concerning the future aren't worth
the paper they are written
on. A decision that does not lead
to action is a poor one. The rate of business demands timely in
addition to informed decision
making. In case the
owner-manager would be to stay ahead of competition, you have to
move to control your own destiny.
Powerful Decision
making in the small business requires several things. The
owner-manager must have as much accurate information
as
possible. With these facts, you need to establish the effects of
all possible courses of actions and the time demands. When
you've made the judgment, you have set up your company so the
decisions you make could be transmitted into action.
Control Your Business. To be effective, the owner-manager must
be able to motivate key people to acquire the outcomes intended
for
within the price and time constraints allowed. In working
to achieve results, the small business owner-manager has an
advantage
over big business. You can be fast and flexible
while many large businesses need to await committee action
before a decision is
made. You don't need to get consent to
behave. And equally important, bottlenecks to implementing new
methods can get your own
personal attention.
One of
those Secrets is in determining what things to control. Even in
a small business, the owner-manager should not attempt and
be
all things to everybody. You should keep close control on
individuals, products, cash, and some other tools that you
consider
significant to keeping your performance geared
toward profit.
Manage Your People. Most businesses
realize that their largest expense is labor. Yet because of the
close contact with employees,
a few owner-manager of small
businesses don't pay enough attention to direct and indirect
labour costs. They have a tendency to
consider those costs in
terms of people as opposed to relate them to profit in terms of
dollars and cents.
Listed below are a few Tips
concerning personnel management:
Gradually Review every
position in your business. Take a glimpse in the job. Is work
being duplicated? Is it structured so that it
encourages the
employee to become concerned? Can the tasks be given to another
employee or employees along with a position
eliminated? Can a
part-time individual fill the occupation.
Play A modest
private mental game. Imagine you have to get rid of one worker,
If you needed to let one person go, who would it be?
How
would you realign the jobs to make out? You could find a real
solution to the fanciful difficulty is possible to your
financial benefit.
Use Compensation as a tool rather
than viewing it as a essential evil. Reward Superior work.
Investigate the potential for using
increases and bonuses as
incentives for greater productivity. By way of instance, can you
schedule bonuses like morale boosters
through seasonal slacks
or other dull periods?
Recall There are new means of
controlling absenteeism through incentive reimbursement plans.
For example, the owner-manager of one
little business
eliminated holidays and sick leave. Rather, this owner-manager
gave every employee thirty days annual leave to use
as the
employee saw fit. At the conclusion of the year, the workers
were paid at regular prices for the depart that they didn't
use. To make up for the yearlong pay, the employee had to prove
that sick leave was taken solely for this purpose. Non-sick
leave
had to be applied for in advance. As a result,
unscheduled absences and overtime pay were decreased
significantly. Additionally,
workers were happier and more
productive than they had been under the old system.
Control Your Inventory. Do not tie up all of your money in
stock. Utilize a perpetual inventory system for a cost control
as
opposed to a system just for tax purposes. Establish use
patterns or purchase patterns on the substances or items which
you have
to stock to keep the minimal number needed to
provide your customers or to maintain production. Excessive
inventory, while it is
finished merchandise or raw materials,
ties up funds that could be used to better advantage, for
example, to open a new sales
territory or to buy new
machines.
Centralize your Purchases and avoid
duplications. Be a comparative shopper. Confirm orders in
writing. Get the price and amount
straight right away.
Check what you Get for condition and quality. Assess bills
from suppliers against quotations. You don't wish to be the
victim of
their error.
You should, However, keep 1
fact in mind when you install your inventory control system. Do
not spend more on the control system
than it will yield in
savings.
Control Your Products. From charge of stock to
control of merchandise is but a step. Make sure your sales
people recognize the
importance of promoting the products
that are the most profitable. Align your service coverages with
your markup in mind. Arrange
your goods that low markup items
need the least handling.
Control Your Money. It is good
policy to handle checks and cash as though they were perishable
commodities. They are. Cash in your
protected earns no
return; and it Can be stolen. Bank promptly.
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