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BUSINESS

I would say a business venture involves three kinds of people/ entities.

a. Business Strategist
Business Strategists (people or companies) identify and validate high potential business opportunities for stakeholders and develop customized business strategies that are aligned with corporate strategic objectives. These tasks include definition of the scope of businesses, development of differentiated value propositions and core go-to-market strategies as well as preparation of revenue models and financial analysis.

b. Stake Holder
Stakeholders contribute to the project in many ways including funding, suggesting requirements, using and providing feedback. The degree of Stakeholder involvement varies by project, but generally, more involvement produces better results.

c. End User/ Consumer/ Customer
Normally, End user is the one who uses the product or a service produced by a business entity. The end-user may differ from the customer, who might buy the product, but doesn't necessarily use it; for example, a zookeeper, who is the customer, might purchase elephant food for an end-user: the elephant. (Go figure...) Therefore, some people call the zookeeper to be the end user, being the non seller. End Users are a special type of Stakeholder. End Users' input and feedback on strategy, features, usability, content, etc. can provide invaluable insight into your target audience and the direction your solution should take. Their involvement level will vary greatly from project to project but it should never be completely eliminated.

BUSINESS CONCEPT/ BUSINESS PLAN/ BUSINESS MODEL/ BUSINESS VISION
A Business Concept may also be referred to as a business plan, business model, or vision. So one day, while dreaming of the world outside the office cubicle, constantly punching the clock for someone else’s vision, you have your big “Eureka!” moment—you’ve come across an idea so perfect that you need to start your own business around it. Coming up with the idea is the easy part. Now, you’re thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details. After evaluating my nature and skills, and answering the all important mostly ignored question: " Is Entrepreneurship for me?" I would start like this...

a. Create a rough budget to see if you have enough financial resources to get this idea rolling. How much you might need and do you have the sources/ resources/ lenders.
b. Where you fit in the market. Does the world need you. Is there enough demand for your product or service. Are there any other similar businesses. What kind of clientele they target.
c. Create a management team that shares your vision. Remember that you will eventually have to set aside your ego and let them control certain aspects of the company, so your have to feel comfortable around your management team.
d. Start with a small number of clients/ network with optimum focus instead of hitting everywhere randomly.
e. Set your self apart from similar businesses, by producing an eye-catching yet simple to navigate web site/ presentation material/ quality standards/ marketing tools.
f. Come up with a good business plan. Business plans are used internally for management and planning and are also used to convince outsiders such as banks or venture capitalists to invest money into a venture. Business plans are noted for often quickly becoming out of date. One common belief within business circles is that the actual plan may have little value, but what is more important is the process of planning, through which the manager gains a greater understanding of the business and of the options available. Business plans can be of three types, depending at different stages of the venture.

TYPES OF BUSINESS PLANS AND BASICS
a. The Miniplan/ Executive Summary
It consists of one to 10 pages and should include business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. It's a great way to quickly test a business concept or measure the interest of a potential partner or minor investor.

b. The Working Plan.
A working plan is used to operate the business. It has to be long on detail but may be short on presentation.

c. The Presentation Plan.
A presentation plan differs from a working plan in that more attention is paid to attractive formatting, formal language, and conciseness. This type of plan is intended to be suitable for showing to bankers, investors and others outside the company.

The Business plan can be seen as a collection of sub-plans including a marketing plan, financial plan, production plan, and human resource plan. The business plan has many forms. There is however a format that is typical:

Executive summary
      Explains the basic business model
      Gives rationale for the strategy
Background
      Gives short history of company (unless it is a new company)
      Provides background details such as:
            age of company
            number of employees
            annual sales figures
            location of facilities
            form of ownership including
                  sole proprietor
                  partnership
                  entrepreneurial startup
                  private corporate startup
                  publicly traded corporation
                  limited liability company
                  public utility
                  non-profit organization
      Background of key personnel including
            owners
            senior managers
            managing partners
            head scientists and researchers
Marketing
      The macroenvironment
      Competitive environment
      Industry Assessment
      Customer Strategy & Market Analysis
      Product strategy
      Pricing strategy
      Promotion strategy
      Distribution strategy
Production and manufacturing
      Describe all processes
      Production facility requirements - size, layout, capacity, location
      Inventory requirements - raw materials inventory, finished goods inventory, warehouse space
      Equipment requirements
      Supply chain requirements
      Fixed cost allocation
Finance
      Source of funds
      Existing loans and liabilities
      Projected sales and costs
      Break even analysis
      Expected return
      Monthly pro-forma cash flow statement
      Risk evaluation and risk management
Human resources
      Assign responsibilities
      Training required
      Skills required
      Union issues
      Compensation
      Skills availability
      New hiring
Specialized sections such as product research and development, legal strategies, marketing research, or inter-company collaborations, are added to deal with unique features or characteristics of the business or its markets.

Cost and revenue estimates are central to any business plan for deciding the viability of the planned venture. But costs are often underestimated and revenues overestimated resulting in later cost overruns, revenue shortfalls, and possibly non-viability.

STARTING THE BUSINESS
Find a Mentor
Finance Start-Up
Buy a Business
Buy a Franchise
Name Your Business
Choose a Structure
Protect Your Ideas
Get Licenses and Permits
Pick a Location
Lease Equipment

MANAGING THE BUSINESS
Lead
Make Decisions
Manage Employees
Market and Price
Market and Sell
Understand Fair Practice
Pay Taxes
Get Insurance
Handle Legal Concerns
Forecast
Advocate and Stay Informed
Use Technology
Finance Growth

GETTING OUT
Plan Your Exit
Sell Your Business
Transfer Ownership
Liquidate Assets
File Bankruptcy
Close Officially

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	BUSINESS I would say a business venture involves three kinds of people/ entities. a. Business Strategist Business Strategists (people or companies) identify and validate high potential business opportunities for stakeholders and develop customized business strategies that are aligned with corporate strategic objectives. These tasks include definition of the scope of businesses, development of differentiated value propositions and core go-to-market strategies as well as preparation of revenue models and financial analysis. b. Stake Holder Stakeholders contribute to the project in many ways including funding, suggesting requirements, using and providing feedback. The degree of Stakeholder involvement varies by project, but generally, more involvement produces better results. c. End User/ Consumer/ Customer Normally, End user is the one who uses the product or a service produced by a business entity. The end-user may differ from the customer, who might buy the product, but doesn't necessarily use it; for example, a zookeeper, who is the customer, might purchase elephant food for an end-user: the elephant. (Go figure...) Therefore, some people call the zookeeper to be the end user, being the non seller. End Users are a special type of Stakeholder. End Users' input and feedback on strategy, features, usability, content, etc. can provide invaluable insight into your target audience and the direction your solution should take. Their involvement level will vary greatly from project to project but it should never be completely eliminated. BUSINESS CONCEPT/ BUSINESS PLAN/ BUSINESS MODEL/ BUSINESS VISION A Business Concept may also be referred to as a business plan, business model, or vision. So one day, while dreaming of the world outside the office cubicle, constantly punching the clock for someone else’s vision, you have your big “Eureka!” moment—you’ve come across an idea so perfect that you need to start your own business around it. Coming up with the idea is the easy part. Now, you’re thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details. After evaluating my nature and skills, and answering the all important mostly ignored question: " Is Entrepreneurship for me?" I would start like this... a. Create a rough budget to see if you have enough financial resources to get this idea rolling. How much you might need and do you have the sources/ resources/ lenders. b. Where you fit in the market. Does the world need you. Is there enough demand for your product or service. Are there any other similar businesses. What kind of clientele they target. c. Create a management team that shares your vision. Remember that you will eventually have to set aside your ego and let them control certain aspects of the company, so your have to feel comfortable around your management team. d. Start with a small number of clients/ network with optimum focus instead of hitting everywhere randomly. e. Set your self apart from similar businesses, by producing an eye-catching yet simple to navigate web site/ presentation material/ quality standards/ marketing tools. f. Come up with a good business plan. Business plans are used internally for management and planning and are also used to convince outsiders such as banks or venture capitalists to invest money into a venture. Business plans are noted for often quickly becoming out of date. One common belief within business circles is that the actual plan may have little value, but what is more important is the process of planning, through which the manager gains a greater understanding of the business and of the options available. Business plans can be of three types, depending at different stages of the venture. TYPES OF BUSINESS PLANS AND BASICS a. The Miniplan/ Executive Summary It consists of one to 10 pages and should include business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. It's a great way to quickly test a business concept or measure the interest of a potential partner or minor investor. b. The Working Plan. A working plan is used to operate the business. It has to be long on detail but may be short on presentation. c. The Presentation Plan. A presentation plan differs from a working plan in that more attention is paid to attractive formatting, formal language, and conciseness. This type of plan is intended to be suitable for showing to bankers, investors and others outside the company. The Business plan can be seen as a collection of sub-plans including a marketing plan, financial plan, production plan, and human resource plan. The business plan has many forms. There is however a format that is typical: Executive summary Explains the basic business model Gives rationale for the strategy Background Gives short history of company (unless it is a new company) Provides background details such as: age of company number of employees annual sales figures location of facilities form of ownership including sole proprietor partnership entrepreneurial startup private corporate startup publicly traded corporation limited liability company public utility non-profit organization Background of key personnel including owners senior managers managing partners head scientists and researchers Marketing The macroenvironment Competitive environment Industry Assessment Customer Strategy & Market Analysis Product strategy Pricing strategy Promotion strategy Distribution strategy Production and manufacturing Describe all processes Production facility requirements - size, layout, capacity, location Inventory requirements - raw materials inventory, finished goods inventory, warehouse space Equipment requirements Supply chain requirements Fixed cost allocation Finance Source of funds Existing loans and liabilities Projected sales and costs Break even analysis Expected return Monthly pro-forma cash flow statement Risk evaluation and risk management Human resources Assign responsibilities Training required Skills required Union issues Compensation Skills availability New hiring Specialized sections such as product research and development, legal strategies, marketing research, or inter-company collaborations, are added to deal with unique features or characteristics of the business or its markets. Cost and revenue estimates are central to any business plan for deciding the viability of the planned venture. But costs are often underestimated and revenues overestimated resulting in later cost overruns, revenue shortfalls, and possibly non-viability. STARTING THE BUSINESS Find a Mentor Finance Start-Up Buy a Business Buy a Franchise Name Your Business Choose a Structure Protect Your Ideas Get Licenses and Permits Pick a Location Lease Equipment MANAGING THE BUSINESS Lead Make Decisions Manage Employees Market and Price Market and Sell Understand Fair Practice Pay Taxes Get Insurance Handle Legal Concerns Forecast Advocate and Stay Informed Use Technology Finance Growth GETTING OUT Plan Your Exit Sell Your Business Transfer Ownership Liquidate Assets File Bankruptcy Close Officially