THE FINANCIAL MANAGEMENT PLAN

Sound financial management is one of the best ways for your business to remain profitable and solvent. How well you manage the finances of your business is the cornerstone of every successful business venture. Each year thousands of potentially successful businesses fail because of poor financial management. As a business owner, you will need to identify and implement policies that will lead to and ensure that you will meet your financial obligations.

To effectively manage your finances, plan a sound, realistic budget by determining the actual amount of money needed to open your business (start-up costs) and the amount needed to keep it open (operating costs). The first step to building a sound financial plan is to devise a start-up budget. Your start-up budget will usually include such one-time-only costs as major equipment, utility deposits, down payments, etc.

The start-up budget should allow for these expenses.

β€’ Start-up Budget
β€’ personnel (costs prior to opening)
β€’ legal/professional fees
β€’ occupancy
β€’ licenses/permits
β€’ equipment
β€’ insurance
β€’ supplies
β€’ advertising/promotions
β€’ salaries/wages
β€’ accounting
β€’ income
β€’ utilities
β€’ payroll expenses

An operating budget is prepared when you are actually ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses.
β€’ Operating Budget
β€’ personnel
β€’ insurance
β€’ rent
β€’ depreciation
β€’ loan payments
β€’ advertising/promotions
β€’ legal/accounting
β€’ miscellaneous expenses
β€’ supplies
β€’ payroll expenses
β€’ salaries/wages
β€’ utilities
β€’ dues/subscriptions/fees
β€’ taxes
β€’ repairs/maintenance

The financial section of your business plan should include any loan applications you've filed, a capital equipment and supply list, balance sheet, breakeven analysis, pro-forma income projections (profit and loss statement) and pro-forma cash flow. The income statement and cash flow projections should include a three-year summary, detail by month for the first year and detail by quarter for the second and third years.

The accounting system and the inventory control system that you will be using is generally addressed in this section of the business plan also. If a franchise, the franchiser may stipulate in the franchise contract the type of accounting and inventory systems you may use. If this is the case, he or she should have a system already intact and you will be required to adopt this system. Whether you develop the accounting and inventory systems yourself, have an outside financial advisor develop the systems or the franchiser provides these systems, you will need to acquire a thorough understanding of each segment and how it operates. Your financial advisor can assist you in developing this section of your business plan.

The following questions should help you determine the amount of start-up capital you will need to purchase and open a franchise.

β€’ How much money do you have?
β€’ How much money will you need to purchase the franchise?
β€’ How much money will you need for start-up?
β€’ How much money will you need to stay in business?

Other questions that you will need to consider are:

β€’ What type of accounting system will you use? Is it a single entry or dual entry system?
β€’ What will your sales goals and profit goals for the coming year be? If a franchise, will the franchiser set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin?
β€’ What financial projections will you need to include in your business plan?
β€’ What kind of inventory control system will you use?

Your plan should include an explanation of all projections. Unless you are thoroughly familiar with financial statements, get help in preparing your cash flow and income statements and your balance sheet. Your aim is not to become a financial wizard, but to understand the financial tools well enough to gain their benefits. Your accountant or financial advisor can help you accomplish this goal.

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πŸ“Œ STORY would you stop to listen?

Here is a lady disembarking from a matatu, she drops something unaware and a shabbily and dirty dressed boy picks it up.

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πŸ“Œ 10 words of wisdom to Africa

The late Dr Myles Munroe was a man of wisdom.

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πŸ“Œ It doesn't matter how people see you

Jacob looked at Joseph and saw a good son!

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πŸ“Œ BUSINESS PLAN

The process of putting together a business plan, including the thought you put in before beginning to write it, forces you to take an objective, critical, unemotional look at your business project in its entirety. The business plan is an operating tool, which, if properly used, will help you manage the business and work effectively towards its success.

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πŸ“Œ THE MARKETING PLAN

Marketing plays a vital role in successful business ventures. How well you market you business, along with a few other considerations, will ultimately determine your degree of success or failure. The key element of a successful marketing plan is to know your customers — their likes, dislikes, expectations. By identifying these factors, you can develop a marketing strategy that will allow you to arouse and fulfill their needs.

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πŸ“Œ Interesting story for new year

Ezra and Thomas joined a company together a few months after their graduation from university.

After a few years of work, their Manager promoted Ezra to a position of Senior Sales Manager, but Thomas remained in his entry level Junior Sales Officer position.

Thomas developed a sense of jealousy and disgruntlement, but continued working anyway.

One day Thomas felt that he could not work with Ezra anymore.

He wrote his resignation letter, but before he submitted it to the Manager, he complained that Management did not value hard working staff, but only promoted only the favoured!

The Manager knew that Ezra worked very hard for the years he had spent at the company; even harder than Thomas and therefore he deserved the promotion.

So in order to help Thomas to realize this, the Manager gave Thomas a task.

β€œGo and find out if anyone is selling water melons in town?”

Thomas returned and said, "yes there is someone!"

The Manager asked, "how much per kg?"

Thomas drove back to town to ask and then returned to inform the Manager; "they are 13.50 per kg!"

The Manager told Thomas,

"I will give Ezra the same task that I gave you. Please pay close attention to his response!"

So the Manager said to Ezra, in the presence of Thomas;

β€œGo and find out if anyone is selling water melons in town?”

Ezra went to find out and on his return he said:

"Manager, there is only one person selling water melons in the whole town.

The cost is 49.00 each water melon and 32.50 for a half melon.

He sells them at 13.50 per kg when sliced. He has in his stock 93 melons, each one weighing about 7kg.

He has a farm and can supply us with melons for the next 4 months at a rate of 102 melons per day at 27.00 per melon; this includes delivery.

The melons appear fresh and red with good quality, and they taste better than the ones we sold last year.

He has his own slicing machine and is willing to slice for us free of charge.

We need to strike a deal with him before 10am tomorrow and we will be sure of beating last year's profits in melons by 223 000.00.

This will contribute positively to our overall performance as it will add a minimum of 3.78% to our current overall sales target.

I have put this information down in writing and is available on spreadsheet.
Please let me know if you need it as I can send it to you in fifteen minutes."

Thomas was very impressed and realized the difference between himself and Ezra.
He decided not to resign but to learn from Ezra.

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πŸ“Œ I hope everybody will reflect on this

1. If you are SINGLE and keep on saying "I DON'T TRUST MEN OR WOMEN!" Remember your mates are getting married every Saturday. Let me ask you, are they marrying spirits? Wise up!

πŸ‘continue to read about πŸ‘‰I hope everybody will reflect on thisβœ”

πŸ“Œ Lol πŸ˜‚ X-Mass is Jesus Birthday 🎊 not yours

Girl: Boo Xmas is approaching.
Boy: Thanks for reminding me. Can't wait.
Girl: Get me a Tablet for Xmas.
Boy: Really?
Girl: Yeah.
Boy: Paracetamol or Vitamin C?
Girl: I mean Samsung Tablet baby
Boy: Relax!! It's Jesus Birthday not yours!

πŸ‘continue to read about πŸ‘‰Lol πŸ˜‚ X-Mass is Jesus Birthday 🎊 not yoursβœ”

πŸ“Œ How to develop ones Enterprising Tendencies?

At some point in an entrepreneurial career a person has to start developing experience and learning actively about what they do best and what they should learn to do better, and the sooner they start learning actively the sooner they start being enterprising.

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πŸ“Œ Factors of Life

factor of life.
1. be grateful for what you have

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πŸ“Œ BUSINESS FINANCIAL MANAGEMENT PLAN

Sound financial management is one of the best ways for your business to remain profitable and solvent. How well you manage the finances of your business is the cornerstone of every successful business venture. Each year thousands of potentially successful businesses fail because of poor financial management. As a business owner, you will need to identify and implement policies that will lead to and ensure that you will meet your financial obligations.

πŸ‘continue to read about πŸ‘‰BUSINESS FINANCIAL MANAGEMENT PLANβœ”

πŸ“Œ The journey is so short

A young lady sat in a public transport: an old grumpy lady came and sat by her as she bumped into her with her numerous bags. The other neighbor got upset, asking the young lady why she did not protest and insist on her rights: she responded with a smile: "It is not necessary to be rude or argue over something so insignificant!' I'll alight at the next stop, replied the young lady".

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πŸ“Œ Basic General Enterprising Tendencies (GETs)

β€’ Believe they can act on or interact with their environment
β€’ Are sensitive to opportunities and needs
β€’ Can set goals and make plans to realize ideas
β€’ Are pre-disposed to persevere, be self-reliant and maintain their motivation
β€’ Take calculated risks to facilitate the implementation of plans

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πŸ“Œ Look how words you use may change your life

A story is told about a young Thomas Edison who came home one day with a paper for his mother.

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πŸ“° Recent PostsπŸ‘‡

A Just a notice to you

‘``1. πŸ‘‰No matter how beautiful and handsome you’re just remember Baboon and Gorillas also attract tourists .
✌Stop Boasting✌

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A 10 words of wisdom to Africa

The late Dr Myles Munroe was a man of wisdom.

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A How to develop your personality

Each person is unique: Remember that each individual is different and has his or her unique characteristics and qualities. Comparing yourself with others around only increases the distress, especially when you start focusing on where you are lacking compared to others. It is important that you channelize your energy towards your positive traits. Do not get swayed by media portrayals: Media portrays people in its own idiosyncratic ways. It does not mean what or how you should be. Personality matters, not looks alone: It is not just looks that are important and that define who you are. Personality defines who you are and how you respond in various situations. It is essential to focus on the personality, which matters the most. Learn social skills: Just looking good will never be sufficient to take you forward in life or help you in your relationships with people. Instead, hone your social skills. The more success one has in social spheres of life, the better you would feel about yourself. Have a healthy lifestyle: Life is a balancing act. Learning to balance different aspects of life is integral to a wholesome life. Have a good, balanced diet and exercise. Do not avoid social interactions: Just because you feel you aren't good-looking, do not avoid meeting people. The more you shun social interaction, the worse you would feel about yourself. Know your positives: If every individual has his or her limitations, then he or she also has positives. These positive are what you need to concentrate on. Know your strengths. Acknowledge them and work with them. Get healthy peer support: Peers are an important part of your support system. Having peers who are supportive can contribute to our understanding of situations, giving alternative perspectives. Talk to parents and friends: The difficulties you might face in evaluating yourself in a positive light can be taken care of by talking to family and friends. Develop media literacy skills: Learn to see messages in the media in a dispassionate manner. Try and develop this skill so that you are able to integrate what the media shows in a realistic manner. Everyone has their notion of how people should look and dress, etc… All these diverse perceptions can lead individuals to believe that they need to be a particular way, and if not, then it implies something negative about them. This can frequently affect one's moods and behaviour. Know Yourself: The first step on your quest to develop your personality is to know yourself. It is very important to know yourself in order to figure out what needs to be done to modify your existing personality. Knowing yourself is not about knowing your favorite color, food and etc. It is about knowing your limitations and plus points. You must be aware of your abilities so that you can use them when the time comes. You need to analyze yourself and find out what is it that you lacking in. Are you short tempered or do you panic easily or is that you can't speak in a group. Find out and then accordingly we can work on your personality. Comparison: You need to accept one thing that you cannot be best at everything. We all have our strengths and weaknesses. You are different from others; you have your own set of talents and abilities. Just because there is someone around who is great at a think you are not good at does not mean he is better than you. There will be things that he cannot do but you can. No one is perfect in this world. So never compare yourself to others. It does more harm than good. Love yourself and you will definitely achieve a better personality. Courteous: Personality as I said is not just about how you look. It is how you present yourself. It is how you impress others. An expressionless and monotonous tone will get you nowhere. You need to have an attitude that is pleasing so that you are welcomed wherever you go. Be courteous and humble. Greet your juniors with a smile and reply back to their greetings. At times have lunch together or offer your lunch to them. Be available for your people and you will become dependable for them. This is a remarkable trait for your personality. Mannerism weighs a lot in the professional world. Body Language: Having a personality takes into account everything. Not just the way you dress up and talk but also your body language. How you walk, sit , eat , how you behave when others are talking etc make a huge impact on others. Your body language is therefore a very important is very aspect of your personality. Have a relaxed posture. Walk upright do not droop or be extra rigid. When others in a group are talking have a relaxed tone. Do not get involved with the surroundings but pay attention to the speaker. If he is talking to you have a calm eye contact and not staring or distracted. Have a good body language that shows that you are confident. Physique: The easiest way to achieve a good personality is to have a good physique. It cannot be denied that a good physique is very important. It is a very important part of your personality. Your physique not only sets an impression but it speaks a lot about you. A good physique says that you are a well planned person. You think about yourself and about your health. It also gives a perception that you are away from bad habits and company. It really says a lot about you. So start exercising and stay fit to develop your personality. Speech: A very vital part of any personality development program is to help you speak better. By speaking better I do not mean using big words and giving speeches. The words you use are very important. Have a decent and simple manner of speaking. Use a language that is understood by all. Now a day's English has the top priority. If you do not have grips over this language enroll yourself with some coaching class. When you speak in a group see to it that your words are not offending or agitating. When to speak is more important than what to speak. So take care of your speech as much as you can. Appreciate: A great personality knows how to impress and make an impact. In the professional world where you work or stay in a group; to be accepted by others is very important. All the pain of building a personality is to be accepted so that we can move on and work in a better way. Develop a habit of appreciating your mates no matter how small the work is. Although take care that you are not being fake. Appreciating others makes you a very friendly person. You also motivate your mates and that makes you a better employee as well. Thus a simple habit of appreciating helps you develop your personality by making you a little selfless. Attire: Yes personality is not all about dressing up but the way you dress does have an impact on your personality. So even if not the most important you attire is definitely one of the most important aspect of your personality. Dress up in a decent manner. Be professional and avoid flashy colors. Avoid unnecessary piercing on your body or tattoos. Wear neatly ironed and unstained clothes. Look pro essional or according to the environment of your working place. It is very important to develop your personality to have a great sense of dressing. Confidence: I will definitely say that this is the most important thing to be achieved to obtain a better personality. You have to be confident with whatever you do. Your confidence says that you know about your work and you are well aware of your abilities. If you shy of speaking in public then you have to start speaking as having confidence is very important. Believe in yourself and to help you build confidence read success stories of other people. Have motivational slogans and pictures on your board etc to help you boot your confidence.

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A Look how words you use may change your life

A story is told about a young Thomas Edison who came home one day with a paper for his mother.

πŸ‘continue to read about πŸ‘‰Look how words you use may change your lifeβœ”

A Lol πŸ˜‚ X-Mass is Jesus Birthday 🎊 not yours

Girl: Boo Xmas is approaching.
Boy: Thanks for reminding me. Can't wait.
Girl: Get me a Tablet for Xmas.
Boy: Really?
Girl: Yeah.
Boy: Paracetamol or Vitamin C?
Girl: I mean Samsung Tablet baby
Boy: Relax!! It's Jesus Birthday not yours!

πŸ‘continue to read about πŸ‘‰Lol πŸ˜‚ X-Mass is Jesus Birthday 🎊 not yoursβœ”

A The story of crime girl πŸ‘§

A lady committed a crime and she was sent to court. The punishment for the crime was life imprisonment. She shed tears for help but to no avail.

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A Try this if you think you speak English fluently

try dis!
''THREE WITCHES WISH THREE WISHES,BUT WHICH WITCH KNOWS WHICH WISH WHICH WITCH WISHED."
Send it back as a voicenote, let's hear accents,
Don't spoil d fun….
Waiting 4 ur voicenote πŸ˜€πŸ˜€πŸ˜€

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A This is the sad story

πŸƒπŸŒΉπŸƒπŸŒΉπŸƒπŸŒΉπŸƒπŸŒΉπŸƒπŸŒΉ

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A Children speak their mind!!!

Teacher: How old is your father?
Kid: He is 6 years.
Teacher: What? How is this possible?
Kid: He became father only when I was born.
Logic!!πŸ‘ŒπŸ˜³

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A Tragic cat's moment

====TRAGIC_CAT'S_MOMENT.====
The cat was so faithful that the woman could leave her baby with it & go out to attend other matters.
She always returned to find the child soundly asleep with the cat faithfully watching over him.

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A A letter from an aborted child

A LETTER FROM AN ABORTED CHILD
Dear Mum,
I have decided to talk to you to let you know my
feelings. I want to know why you did it. My story
is short. I stayed inside you for only a couple of
weeks. I was very comfortable and warm. I felt
really protected. I knew you were a special
person because you never stopped me from
eating the food you ate. I longed for the day I
would see your face. Nine months was a long
time to wait, but I was determined to wait. I had
to be patient.
A man then offered you some amount of money to
get rid of me. I was happy and prayed that this
meant that I would at least see you, the only
person that I knew in the world. I was wrong. I had
almost forgotten the issues until I felt something
sharp pierce my tiny ear. I jerked silently and in
pain, and asked you to protect me. Seconds later
the object came,fiercer than before. My tiny body
was cut up, starting from the ears then arms and
legs. It was an agonizing experience. My head was
then cut off and I died.
It took me a whole hour to die. A whole hour for
an innocent few weeks human being to be
murdered by you! I remember the whole incident
vividly and I keep asking myself what I did to
deserve that cruel death. Why me? Why did you
do that to me? And why was I not given a
chance to live just like they children you hear
playing around? How do you feel when you send
some of them on errands when I could have done
that with pride if you had given me the chance to
live? Don't you see the beauty in playing with a
child that calls you mom with a sweet soft voice?
I know you are having a lot of nightmares. You
remain guilty for the beastly act. Please explain
to God why you committed the heinous act. He
sent me to you as a very special gift. My purpose
was to make you proud by being the great
person God meant me to be. I have forgiven you
though I never lived to see your face. My journey
back to my creator was safe, and I arrived
safely. I was given a red-carpet welcome by an
angel. I am in fact without bitterness. I still love
you, mum.
Yours Never-seen child.
If you are touched, join the "STOP ABORTION"
campaign by sharing this post with your friends.
…. STOP ABORTION !!!.

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A Dress proper ladies

Two young ladies arrived in a Meeting wearing clothes that were quite revealing their body parts. Here is what the Chairman told them: He took a good look at them and made them sit. Then he said something that, they might never forget in their life. He looked at them straight in the eyes and said; "ladies, everything that God mande valuable in this world is well covered and hardly to see, find or get.

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A How to become smarter

Exercise Your Brain Just like you workout to build and strengthen your muscles, your brain, too, requires proper exercises to sharpen itself. Often, it is assumed to be a useless body part, but this is not true. As such, whenever you are engaging yourself in some activities, you are exercising your brain. Consider practicing activities, such as puzzles, crafts, reading, painting, gardening, and other recreational activities that will refresh and rejuvenate you and your mind, in particular. Read Quality Books Most of us love reading. But we often end up reading fiction, suspense, or romantic books. However, these books do not mentally stimulate us. So, if you really want to improve your thinking and writing skills, pick up books that force you to really focus. Read a classic novel that changes your perspective towards this world and exposes you to precise, elegant English. Do not feel shy to pick up new words and find their meanings. This, in turn, will make you smarter with a more comprehensive vocabulary. Make reading fun as well as useful. Avoid The Idiot Box What do we do after a long tiring working day? Pick up a bag of chips and a can of cola only to land up in front of the television. Though there is no problem with refreshing yourself while watching a reality or a talk show, it doesn't really put your mental capacity into use. Further, watching television continuously does not relax you, instead, it exhausts you. Hence, pick up a book or magazine when you want to relax. Or, switch off the idiot box when you have friends or acquaintances around and indulge in a conversation instead. Learn A Foreign Language Researches indicate that learning an unknown foreign language boosts brain power. Quite smart, indeed, right! Learning and understanding the foreign culture through the language induces your brain to implement its muscles. Identify Your Qualities All of us have had our share of several idols and dream jobs during childhood. A scientist, a social worker, an airhostess, a 40-wheel lorry driver, an astronaut, or even a rock star! But, in reality, how many of us are really able to convert our childhood dreams into a reality? Probably, just one out of hundred. That's because to move onto their paths, we need to understand the values, commitment, and endless efforts to meet the requirements and achieve our goals. However, this should not be mixed with our idols. For if we try to imitate our idols, we will only land up making a fool out of ourselves and not creating a niche amongst the rest. Hence, it is important to identify your qualities and be yourself rather than being others.

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