Tag: Steps

Steps For Starting A Own Business

It is a bit quite difficult to start your own business; there are some points which should be taken care of. You should be aware of the pro and cons of the business you wish to start. You should have business plan that contains the entire pro and con and the nuances of the financial set up for the business. Preparing a good business that impresses the potential investor of your business needs a fresh and innovative idea that have the capacity to turn the investment into profits.

Business proposal

A business proposal stands for the proposal that a seller makes for the buyer, so that the buyer gets the total idea of the product he is about to buy. The proposal makes the buyer understands that the products that the seller is proposing consists of the requirements of the buyer. The proposal should have all the details of the business and the proposal that succeeds makes both the buyer and seller in a winning situation giving both the parties their share of profits. The business proposals are of three distinct types: proposals that are solicited formally, proposals that are solicited informally, proposals that are unsolicited. The proposals that are solicited formally are written for a published requirement containing a proposal request, a quotation request, bid invitation or a information request. The informal solicited proposal is made against a conversation between the vendor and the customer. This kind of proposal has no formal requirements. The unsolicited proposals are the marketing brochures that ha
ve no direct connection between the customer and its requirements.

Components for a business proposal

The business proposal of your business should have all the prerequisites that are necessary to make the proposal successful. The components for both the formal and informal proposals are different and should be taken care while writing your business proposal. The components for the formal proposal includes matrix for requirements, executives summary, technical volume, management volume, cost volume. These components are essential in the formal proposal. The informal proposal comprises of the description of the products, key issue, specifications, costing of the venture, and delivery time.

Financial planning of the business proposal

The business proposal is complete only when it has the proper planning of the finances. The planning of the finances includes the incoming and outgoing of the finances, the management of the finances, and looking after the sales to calculate the profit and its shares. The financial statement of the business plan does not need to be complied in sequence but if it is in sequence it is will be nice for you and the investor. The planning of the finances should be started with a forecast for the sales and its estimation, about how much you intend to sell and how the pricing is being done. It should include a budget for expenses, a statement for a cash flow, and projections of the income, the tricks you will be dealing with the assets and liabilities, and at last the breakeven analysis. These points should be kept in mind while writing the proposal.

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New Technology Development Steps for Inventors

Developing new technology is, as Edison once said, “one percent inspiration and ninety-nine percent perspiration.” It makes sense when you consider what technology really is: technique. It is, at root, a new way of doing something; presumably a way that never existed before someone painstakingly established it. Since developing new technology is hard work, it stands to reason that only a relatively few people devote their lives to doing it. But let’s say you are one of them. Where do you start? How do you begin? And what principles should you keep in mind?

As is so often the case, Viaweb founder and venture capitalist Paul Graham offers an eloquent answer in his latest essay “Six Principles for Making New Things.”

“I like to find (a) simple solutions (b) to overlooked problems (c) that actually need to be solved, and (d) deliver them as informally as possible, (e) starting with a very crude version 1, then (f) iterating rapidly.”

Graham elaborates on each step of his formula, but we will limit our discussion to how they relate to new technology development. The first is the well-known but often-overlooked advice of opting for simple solutions.

This first step is so important that engineers have a saying for it: “Keep it Simple, Stupid!” Unfortunately, inventors of new technology often reject this advice because, as Graham says, simple solutions don’t seem as impressive as complex ones. However, this is a dangerous mistake. With consumer attention spans shorter than ever, technology that gets the job done in the simplest way tend to win out. For this reason, you should deliberately and on principle strive to make your technology function in a simple way. Often, this means putting in more effort. It might seem easier, for example, to make the customer fiddle around with settings to get your invention working right. Instead, take the extra time and effort to configure it so it will perform optimally out of the box, with as little fiddling as necessary. Decisions like this can make all the difference in new technology development.

We will assume that you have chosen an overlooked problem that actually needs to be solved. Even if you picked an irrelevant problem, the technology development steps to solve it would not change. Therefore, we move to delivering your technology as informally as possible. What this means in practice is to keep moving at all times. One of the biggest sinkholes of wasted time is to endlessly plan, speculate, and wonder about your technology instead of actually developing it. Going hand in hand with this is the fear that “maybe my customers won’t like the way I developed this.” However, at root, these attitudes are nothing but roadblocks to your success. If customers don’t like the way you developed something, it will be readily apparent to you and it will get you back to the drawing board faster.

Naturally, this leads to starting off with a very crude prototype of what your technology will ultimately be. This frightens some new technology developers who are so blinded by their “ultimate vision” that they refuse to roll out anything less. This is a mistake, because their vision may not be what customers actually want. Therefore, developers should pay less attention to whether their prototype is glamorous and more attention to whether it solves a thorny problem.

This moves us right along to the last step of Graham’s formula – iterate rapidly. Once you have developed something that may not be pretty but works, you can gauge people’s response to it. Are they impressed by it? Do they wish it worked in a slightly different way? A totally different way? Is it actually fine as-is and ready to be sold? No matter what the answers are, you will not know them unless you kick Inventor Baby Syndrome to the curb and develop a quick-and-dirty version of your technology to roll out with.

If you have noticed a common theme among all of these steps, you are one step ahead of the game. The common theme is to always be moving and pressing on toward that next step. Technology development can be made into an endless labyrinth of analysis-paralysis and second guessing, but this does not need to be the case. If you are always pressing yourself to complete something – anything – that solves the problem you’re after, you will finish developing your technology far sooner than the average inventor does.

In that sense, new technology development is more about attitude than about any specific methodology. If you resolve to keep moving and let nothing stand in your path, you will most likely take a course similar to the one Graham laid out anyway. As a practical matter, re-read these steps at the end of each day you spend developing something. If you can honestly say that you are following along, success should soon follow.

Eric Corl is the President of Idea Buyer LLC, a marketplace for new technology and products that gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com. You can visit the site by visiting this address; http://www.ideabuyer.com New Technology and Products, Patents for Sale.

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Bill Clinton Steps Down From World’s Largest For-Profit College Chain

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Former President Bill Clinton has stepped down from his position as the honorary chancellor of Laureate Education, the world's largest for-profit college chain, the company announced today. Laureate operates 84 for-profit schools across the globe, many of them in the developing world.

Laureate has largely been shielded from the public eye because it owns just a handful of schools in the United States and is not publicly traded. That may change soon: Bloomberg reported yesterday that the company was making moves toward an initial public offering that would value it at around $ 5 billion, more than twice the market capitalization of University of Phoenix owner Apollo. The company is backed by KKR and the financier George Soros.

Laureate said in a statement that Bill Clinton was stepping down because his five-year term was expiring. The company told Bloomberg that the timing was unrelated to Hillary Clinton's presidential campaign.

In recent weeks, Hillary Clinton has been sharply critical of for-profit colleges, saying in a visit to an Iowa community college that some schools “take all this money and put all these young people and their families into debt.”

“We have to take on those interests that want to keep the system the way it is because it generates a lot of money and a lot of interest payments,” she said.

In the United States, Laureate schools significantly outperform others in the for-profit sector, with low default rates on loans that a Senate report called “the best of any company examined.” However, a prospective class-action lawsuit earlier this year against the company's largest American school, Walden University, criticized the company for harming students in a pursuit of enrollment growth.

Bill Clinton will be replaced at Laureate by Ernesto Zedillo, the former president of Mexico, who will take on the title of “Presidential Counselor.”

Zedillo, who now serves as a professor at Yale and member of the Citigroup board, led Mexico during a tumultuous period in the 1990s when the country was rocked by the Zapatista uprising and tensions between indigenous people and the state, including allegations of human rights violations during his time in office. He is considered by many as an instrumental figure in the country's transition to democracy.

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