Putting up an effective business plan
If you want to learn how to crack your brain, just become an entrepreneur. This is an industry that requires beyond paperwork. How many graduates from the department of business yearly and how many end up actually doing the business? It already shows you that there is something in-between not to even talk about professional businessing.
It has been meeting upon meetings with my co-partner this year. Of course the earlier this is done, the better. The idea is how businesses should operate this year and see profit. We have survived long enough if that English sounds right and we have to connect needed dots to see a reasonable profit daily that can amount to something weekly, monthly and overall year results.
We looked into our flaws and some of those were slow motion activities, poor advertising and we'll, we can also talk of not enough capital for restructuring. Talking of capital, it has been something I have been discussing with my co-partner; ‘you are an entrepreneur and it is not your duty to personally produce the needed capital. An entrepreneur brings out a solid idea and goes fetching for investors’.
source
We ALL have our stance in the ecology of business I guess. When it comes to raising capital through investors we are still very bad at that and yes, it is not good for business. It is something that I personally have to improve upon; someone has to first lead the way.
Looking away from that, we have something to turn to as the year unfolds. I talked about the issue of steady electricity and it is something very important to look at. We have had a band switch from a 20 hrs light minimum to 12 hrs light minimum from the current calculations I have been trying to follow up. Maybe when the service biller comes I will like to hear from them. It has really affected small and medium scale enterprises in my environment who are mostly dependent on electricity, especially the hard industry.
So what should we do? Before even stepping further, we have to solve this energy problem. The cost of solving the energy problem currently is enough to eat up our entire revenue and keep us at a steady account minus every month. To solve this, something has to pay for energy plus interest.
If we have to invest much into energy, we have to look at how it will be used more effectively and efficiently, this is where the profit lies. It has been the question that demands an expansion before thinking of investing in energy. One of the ideas is capitalizing on hired hands. Can we lease out some part of our business premises and machines to gain extra revenue?
source
The idea here is to give room to individuals who are in the field of sewing to leverage the steady energy we plan to give, our equipment and a comfortable working environment. In short, we are trying to solve two problems here; energy and delayed production and services rendering flaws. It has really been the challenge of small enterprise and individual fashion designers. In the absence of steady electricity work becomes slow leading to a delayed delivery. What we are about to do will favor both ends; it will be an affordable work pay day pay while they also meet up with delivery of both quality and a timely service.
To conclude, let me add, there is much digging still left as this idea is still at an infant stage. We have made some moves anyway as to how we will hit the ground running. It boils down to capital; from bringing in more machines to take advantage of more workers so we can leverage the cost of energy from more workers. What are your own views on this idea? We will really welcome your business experience, ideas and contributions.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart.
Posted Using INLEO