Owning A BusinessEssay Preview: Owning A BusinessReport this essayOWNING YOUR OWN BUSINESS WITH EMPHASIS ON CHILD CARE CENTERSINTRODUCTIONThis paper will discuss ways in order for you to become a business owner as well as how to start your own child care center. Owning a business is not an easy job. There is actually a very complicated and long process to become a small business owner. Before you start to think about what you want to do, you need to ask yourself if you will be committed to this venture. If you are then proceed on with your business however, if you are not then owning a business is probably not for you. With owning your own business, your going to have less personal time then you had previously. Here are some reasons people become entrepreneurs. Many people have a strong desire to be independent, they would rather be their own boss because they dont take orders from others well. Owning a business is also a chance for owners to work at something they enjoy, they arent shoved behind a desk doing filing work for eight hours a day. You are free to operate at your own paces with your own business. Depending on the type of business you own, you have a great opportunity to accumulate great wealth.
Purpose and ScopeThe purpose of this report is to inform readers of the options available to people who want to own their own business. There is also a growing need for child care. So with this need more and more people are deciding to open up child care centers. In this report I will lay out steps in how to start your own business, and what to do from there. Also, pros and cons to owning your own business.
Sources and MethodsIn order to give the information needed to start your own business, I have searched many journals as well as business related books. Internet sources have also help get information. I have also conducted an interview with an owner of a child care center.
GETTING STARTEDChoosing what kind of business to open is the most important decision to make. Just because you like to make bracelets doesnt mean you would like running a business making bracelets. You need to think about how much money you want to make, past experiences, attitudes on the business you choose, and your going to need a knowledge and some skills with the choice you make. Pros and Cons
With everything else in life there can be advantages and disadvantages to owning a business. There are many pros and cons, here are some examples. Pros: You will be your own boss, the chance to make good money, no one can fire you, work directly with costumers, great personal satisfaction, and a sense of stability for you and your family. The cons: Businesses are a large financial risk, long hours and less vacation time, incomes may not be steady, unpleasant tasks, such as not hiring a friend or firing someone. There are some pros and cons for home based businesses alone. Pros: Start-up costs are lower, shorter commute, more flexible schedule. Cons: more vulnerable to interruptions, you may have trouble finding qualified employees, and you may be less accessible to suppliers.
Location and Financial AssistanceTo get your business up and running you need money. Initial capital helps you get you business set up and running and working capital is what you have to keep your business going until the business begins to pay itself off. There are many means of getting the money. You can use your own funds, get a loan from a bank, small business investment corporations, and even stocks. Wherever you get the money, it will not be a cheap investment. After you get your business going you will have many liabilities, or debts to pay back. Location also plays a big part in your business. To maximize your profits you will want a high population looking for your service or who have a need for your product. You can choose to rent and renovate an existing building or opt to have a new place built for your business. Renovating and existing building may come out to be more cost effective. One the other hand having a building constructed for your business could have more appeal to customers. Cost factors, such as land and construction go into play to where you want your business. You have to ask yourself, “is this land around my business safe” or “if I build, will there be enough room for my building?” Some others are, local regulations, services like police and fire companies, utilities like power and water, and tax structure. These are helpful to those starting businesses outside of their homes. When looking at possible locations look all over at many places. Dont settle on the first or even second location you see.
THE BUSINESS PLANWhat is a business plan and do I need one for my business? A business plan is just something helpful that outlines what you plan to do with your business and how you plan to lay it out and pay for it. It takes a lot of time and work. Most business owners who have plans are glad they have them. Business plans help the owner get money from lenders, help you decide if you want to keep going with your plans to have a business, they improve your business concept, and improve the odds of your business succeeding. The business plan also helps you stay on track. It presents a clear-cut plan for the future. For example, if you planned to be making a living three months after start-up, and six months after your going to be in the hole at the rate of $100 per day, your business plan should help you see that changes are necessary.
Marketing and Personal PlansWhen starting your own business you need to know how to get people there. Marketing and advertising will help you get the business you need. Marketing covers most everything from how your company will make money to how your companys logo will look like. There are four basic aspects of marketing. The first is the product, what do you plan to sell. The second is price, is your product or service going to be affordable to your potential customers. The third is promote, this is telling your public who you are and what your selling. The fourth and final aspect of marketing is provide, in what ways do you get across to your customers and how you get the product to your customers. It also helps when you ready for advertising. Advertising will help you gain customers providing you have a good or a service they are looking for. Ads need to be eye catching and at the same time informative
The Marketing and Personal Plans – Your Business What is a personal plan? A personal plan is a plan by the company that will motivate you to create and sell products. Personal plan, will not only make sense for the individual or small business owner, but will also help for a career. You can think of this a personal plan as your life plan. You will see your business grow your business within a short timeframe. Whether or not a company has one you are going to see the following: 1) Find new ways, 2) Improve their profile, 3) Create more sales teams 1) Create a new email newsletter 2) Build an ecommerce website. 3) Use their data. 4) Build up and use their resources to be successful. 5) Keep your stock page up on your website. 6) Make a website that is open to new users and users of your product and service. 7) Use the business model to increase your revenues. 8) Share the best information with your customers. 1) Increase search engine traffic. 2) Increase users’ engagement. 3) Share your content. 4) Be social. 5) Use social media to communicate with your target audience. 6) Social media is the only way to know what works for you; it can help motivate, even as you focus your marketing efforts on marketing it to your customers. In order to sell to customers in a brand-centric way they are going to want to know just how it works or how well it works to meet the marketing needs of them. This way you can improve marketing and sales in their eyes to increase brand engagement and profitability. The idea behind a personal plan is not that it won’t work. It is that the better you get with this or that plan the better your sales will be and the higher the profit and price is. It helps to think of the business model or to think of it as a whole rather than just a set of parts where you focus the focus of the business. It will also help them to focus on the business as a whole rather than just the ones that come along in the business. Once you get into that set of things you will see a significant increase in the number of customers, their sales will increase, and the business is better positioned to find new revenue and in a very short window it will look good again. This is what separates the personal plan from the business plan. Remember that the big business can always beat the small business at making money. This way you can get the company for free. And once you have your business you now realize that your business will not survive if you stay on the same track of success. The following can be summarized as: 1) The business plan creates the opportunity to stay in the business. 2) A new business is born. 3) The brand awareness to you is increased. 4) The customer base to see how well it works with your business has been increased. 5) Brand awareness in your brand is increased. 6) The return on investment to your business is increased. 7) Customer satisfaction with the purchase is increased. 8) The success of your products and services with sales is increased. 9) Your customers’ ability to interact with the brand and reach out to more customers has been greatly increased. 10) Customer loyalty and customer loyalty with product and service has been greatly improved. In other words the better you get with your business the less you can expect any costs incurred. In other words you can make the most of the business and sell the most money at the best possible price at the best possible time. When this business plan is successful you will have no business problems. It can work on the