Are you considering starting a Bed and Breakfast Business? if yes, you'll find this free book to be extremely helpful.
This is a practical guide that will walk you step by step through all the essentials of starting your 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.
Checklist for Starting a 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 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.
The Single Most Important Ingredient for Business Success
The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.
Sounds exaggerated? Listen to this...
According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.
This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.
Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.
"Why Invent Mediocrity, When You Can Copy Genius?"
That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?
[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]
Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.
I've been involved in small business for the past 31 years of my life, as a business coach, manager of a consulting firm, a seminar leader and as the owner of five successful businesses.
During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.
Here's what you'll discover in the 'How to Start a Bed and Breakfast Business' book:
How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.
A detailed manual that will walk you step by step through all the essential phases of starting your business
A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).
All this and much much more.
Success Tip: Setting Goals
Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.
Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.
Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.
Here're other free books in the "how to start a business" series that may interest you:Agriculture Assisted living Auto repair Bakery Bar Beauty salon Bed and breakfast Bookkeeping Boutique Bowling alley Carpet cleaning Car wash Catering Cattle farming Charity Cleaning Coffee shop Computer repair Construction Consulting Convenience-store Cupcake Daycare Dental Dog daycare Ecommerce Electrical Embroidery Engineering Farm Fashion Film Financial advisor Fitness center Flower-shop Food Food truck Franchise Frozen yogurt Furniture store Gas station Goat farming Grocery store Gym Hairdressing Hair salon Ice cream Insurance agency Interior design Internet Internet cafe IT Jewelry Landscaping Laundromat Laundry Law firm Magazine Manufacturing Microbrewery Motel-hotel Music Nightclub Nonprofit Nursery Online-retail Photography Pizza Plumbing Poultry farming Preschool Printing Private investigator Pub Real-estate Resort Restaurant Retail School Security company Service Software Spa Sports-bar Startup Supermarket Travel agency Trucking Vegetable-farming Website
Here's a Sample 'Executive Summary' for a Bed and Breakfast Business plan:
[Company Name] is two bed & breakfast houses located in the heart of Napa Valley. The company operates from [Address, City, State ZIP]. Each historical house is built in the late 19th century, with five charmingly decorated rooms geared to provide luxurious hospitality at its finest.
The Napa Valley is one of California's number one vacation destination locations. A statistical report shows that 2.75 million overnight trips were made to this area with bed and breakfast reflecting an annual revenue income of $40 million. 60.9% of travelers are over the age of 45 with an average income of over $100,000 per year. The total economic impact of visitors to Napa County was $1.3 billion in 2005.
The Management Team
[Name], a husband and wife team has managed these two Inns for over twenty-four years showing a steady income growth over the years. Their expertise in hospitality totals over 60 years combined and is a direct reflection of their word to mouth marketing strategy. Community leadership and local annual donations are just a few aspects [Name] and [Name] pride themselves with. Local wineries will recommend the Inns to their customers which almost always lead to repeat visitors to St. Helena.
With ten rooms over two properties, the owners have a solid income stream and a 10% market share to this area. Adding additional marketing will draw new and existing customers for this tourist attraction. Renovating, remodeling, and adding rooms will help local vendors with their business.
[Company Name]is committed to participate in reviving the economy and return the sales to the heart of the Napa Valley. These opportunities will ensure a strong competitive edge to other bed and breakfasts and at the same time implement a long-term revenue stream.
An immediate grant in the amount of $250,000 will allow to
Increase Marketing Efforts - $60,000
A second grant one year later in the amount of $100,000 would allow to
This capital injection will create jobs, labor work, and additional reservation count. With an average annual capacity of 43% - 47%, the added rooms would generate a new revenue stream of an additional 33% to the Inns. Projecting only 30% of capacity for the FY 2011 and 2012 would yield an additional income of $127,567. As the highlights reflect, sales could reach over $500,000 by year three from receipt of capital.
This additional income and the projected gross profits will support the overall efforts in hiring a total of five more employees over the next three years.
The [Company Name]s’ concept for this business plan is to obtain an immediate capital injection in the amount of $250,000 to address the following areas needed for the Inns and a second injection of $100,000 one year thereafter to add three additional rooms.
Realizing these objectives will boost the revenue streams, add jobs to the community, and inject labor jobs for a period of three years for the renovation, remodeling, and addition projects.
The [Company Name]s’ mission is to provide luxurious and hospitable lodging at an affordable price. The goal is to give guests a wonderful Bed and breakfast experience and assist them in their Napa Valley vacation.
The target market is adult couples between ages 24 and 75 years visiting the Napa Valley as well as visitors arriving in St. Helena without reservations.
[Company Name]s LLC operates two bed and breakfasts in the heart of Napa Valley in St. Helena, California which are:
[Company Name]s is a Limited Liability Corporation operated by its original owners:
Both, [Name] and [Name] have been in the hospitality industry for more than 30 years each.
[Company Name]s LLC was formed in [Date]. [Name] have been operating these two facilities from the Napa Valley vacation destination infancy, contributing a tremendous amount of success with regards to the lodging and hospitality support. This success is reflected by the local recommendations made by vineyard owners who suggest the Inns for their overnight stay.
While the beautiful vineyards offer one of California's finest wines, it is the Inns unprecedented personal service and their charmingly decorated rooms that create the memorable experience for visitors to return and new ones to choose the Inns.
In the last 10 years, the Napa Valley wine country also attracted a more high-end wealthier clientele, making the Napa Valley a number one tourist attraction in California. As a result of this attraction, in the past five years, the numbers of available rooms have risen.
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