Most people take more time to plan a vacation then
they do to plan their business. Have you ever called
a travel agent and talked to them about taking a trip.
This trip was going to be the biggest trip of your
life. You then went to their office and paid your
down payment. At that point you were so excited.
Your trip was right there in your mental thought
process. You could almost feel it.

Everything related to your trip turned out just find. You had
the best time of your life on that trip. The reason
that trip turned out so nicely was because you planned
it. You made sure everything was taken care of and
you could visualize yourself being a part of this
trip. The same approach is needed in starting and
operating a successful business, you have to plan it,
make sure everything is working in the manner it
should be working in and you have to visualize
yourself being a super successful business owner.

The failure rate for most new businesses is extremely
high. The majority of new businesses just simply do
not survive. Most people fail to plan; therefore they
just simply fail at business ownership. Small
business owners spend an average of 12 hours a day
working, 6 days a week on business activities.
Usually, a new business does not make a profit for the
first two years. Failing to plan is planning to fail.
So Why Do Most Businesses Fail?

1. They do not plan for what they expect their
business to accomplish in the future. There is a lack
of future vision. No business plan.

2. They simple do not have enough capital to keep
things afloat. No financial planning.

3. No business system. They do not have a systematic
way to do things in their business.

4. A Poor marketing strategy. Not experienced in
marketing and is too busy to get the experience that
they need.

5. Inexperienced management. The owner is too busy
doing the work, therefore he/she does not have time to
run the business.

6. A bad location. Low traffic and the area is no
longer expanding.

7. Poor credit practices and they are getting burned
by customer debt.

There isn't a mapped out plan to starting a business.
And no one can tell you whether to start one or not.
You have to make this decision yourself. This is
because you are the only one that will be running your
business. It is a good idea to start part time and as
time goes on and you feel that you are ready for the
plunge, then and only then should you go for it. Just
like with a baby (business idea). You have to crawl
(get started), before you walk (start becoming
successful), before you run (very successful
business).

"You Have To Crawl Before You Walk, Before You Run!"

1. Business Idea: Before you can even start to get
things rolling you have to make sure that you really
want to start a business.

2. Get Started: You have to take the steps to get
things rolling.

3. Start Becoming Successful: Take things in stride
and never stop learning.

4. Very successful Business: Enjoy what you have
achieved and teach others to do the same

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~~~~~ Top Five Questions For The TL ~~~~~~

1. In what instance would one consider his/her
business a partnership over a limited liability
company?
Brian T – Upper Marlboro, MD

Go to http://www.tlmanage.com/lbf.html, this site
explains the types of business formations.
To file for a limited liability company, you will need
to contact the secretary of state in the your State.

2. Are there grants to start a business?
Linda – Putnam Valley, NY

To help you find grants for your business I recommend
you visit http://www.sbasmallbusinessloans.com,
this site is filled with information about grants
for starting a business.
 

3. I am starting an all natural homemade pet treat
business. I am wondering what do I need to do legally
to get this business started?
Tracee – Gallipolis, OH

For the basic steps of starting your own business go
to http:// www.tlmanage.com/12stepstostart.html,
you should also visit your local government office to find
out about specific laws and licenses you may need to
abide by or obtain.

4. If a company originally started as a partnership
and is now seeking to become incorporated. How would
the partners delegate who is who?
Yvette T – Ft. Lauderdale, FL

This is a personal decision that everyone involved
will need to work out. You will need to figure out who
you want to be the President, Vice President and so
on. To make it even you can write it in your business
laws that your decision making is be equal among the
participants.

5. Where can I go to fine help in my town?
Robbie G – Jacksonville FL

Go to you local Small Business Administration (SBA),
your local Community College for adult education
classes about business start up or a local Outreach
Program at a university. All Of the services at these
locations are mosty reasonably priced or free.

You can ask one of our consultants a question about your
business start up concerns. We will publish the top 5
questions in the TL Newsletter. You must be a member
to view any replies.

http://www.tlmanage.com/question.html

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*********************************
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~~~~ Writing A Business Plan ~~~~

Starting a business in today's ever changing
environment is a challenge in itself. So many
entrepreneurs are jumping into business ownership
without first planning their new venture. The
importance of planning your business cannot be over
emphasized. By taking an unbiased look at your
business, you can identify areas of weakness and
strength that you might otherwise overlook. Planning
can mean the difference between your business success
or your business failure.

The idea of a plan is to help keep you mentally
focused. In a sense it is sort of like a goal. You
write it down, follow it and make changes and updates
as needed. This is so that you can keep everything in
proper perspective because without a step by step
business plan, there is no way you can keep your
business running successfully, unless you are just a
super lucky person. What are the chances of that being
true?

A business plan is simply the process you'll use to
organize your business goals and strategies. It is a
written expression of your business ideas. And, it
also provides information needed for others to
evaluate your business. A thorough business plan can
help if you are seeking assistance from a financial
lender. It will let the lender know that you are
serious, and also let them know that you are working
and planning for your business to ultimately be
successful.

There are several organizations that offer free or low
cost assistance in preparing a business plan:

Local University Outreach Center
Local University Extension Office
Small Business Development Center
Service Corps of Retired Executives (SCORE)
Women Business Center

Most cities have these or similar organizations. Look
in your local white pages or contact your local
government office for help locating them.

When it comes to preparing your business plan, you are
going to organize it to fit your particular (business)
circumstances. A business plan should be one of the
first things a start up or new business should do
before you get too involved in your business. It is
best to plan it before you start it.

The things you are going to need to include in your
business plan are as follows:

Cover Sheet - This page should include your company
name, contact information, company logo, company
trademark and your copyright notice.

Table of Contents - Should be one page and it should
give details of the content of your business plan.

Executive Summary - This is summing up the purpose,
a brief statement, account covering the substance and
main points of your business.

What type of business is it?
What is your product or service?
State your company's goals.
State your company's objectives.
What is your business history?

Mission Statement - This is the description of your
business. In about a paragraph or less, you mention
your reason for being in existence.

Marketing Plan - This is how you plan to market your
business. You will need to explain:

How will your company differ from your competitors?
Who are your customers?
Who is your market?
Is it wholesale or retail?
How long will this market need your product?
What are the characteristics of your average customer?
What are the environmental factors of your business?
Who is your competition?
What competitive advantage do you have over your
competitors?
What is the best way you plan to sell your product or
service?
How will you sell your product or service?
How will you promote and market your product or
service?

Product or Services- This is a description of your
actual product line and also the benefits of the
product line.

Operations - This is how you plan to actually run the
day-to-day actions, bill and customer service of your
business.

Who are the employees of your business?
What are their credentials?
How does the business make money?
How do you price your product or service?
Describe what inventory, raw materials and supplies
the business uses.
List your supplies.
How easy or difficult is it to obtain supplies?
Are their prices steady and dependable?

Information On Your Business - This is general
information about your business formation.

What is your form (sole proprietorship, partnership,
LLC or Corporation)?
State all of your business licenses.
State your business zoning requirements.
State your business insurance requirements.
Have your building codes been complied with?
Have health codes been complied with?
Describe any other laws and regulations that affect
your business.
List trademarks, patents, licenses and copyrights.

Financial Plan - This is how and where you plan to get
money to get your business up and running.

How will you finance your business?
How will you manage your finances?
Describe what needs to be financed.
Where will your finances come from?

Financial Statement - This is a financial report that
includes:

Balance sheet
Income statement
Accounts Receivable
Accounts Payable
Debt Schedule
Reconciliation of net worth
This should be included for new and existing
businesses, project the following financial statement
for the next three years (monthly for the 1st year,
annually for 2nd and the 3rd).

Operating (Or Income) Statement - This should include
an explanation of sales, expenses, profits.

Balance Sheet
Reconciliation of net worth
Cash Flow with Explanation
Break-even Analysis

Appendices - Include testimonials from present and
potential customers research clips miscellaneous
charts ad graph.

If You Are Planning On Writing A Business Plan, You
Need This Free Checklist! Go to:
htpp://www.tlmanage.com/bplanchecklist.html

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

*********************************

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The best idea in the world is useless,
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What's the point of traffic
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*********************************

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If you wish to submit an article to be published in
the TL Newsletter, submit your name, your business
name, your business web address, your e-mail address
and your phone number to:

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Label the subject: Article Submission
Note: you must be a member at the time of your
submission

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Leadership

Real leaders forever need bigger and more irresistible
challenges.

Leaders listen, retain and then utilize vast sources
of information.

Effective leadership is visionary leadership.

Real leaders like Lee Iacocca see vast possibilities
and sell their dreams to their companies, their
employees, their funding sources, their government and
their buying public.

Leaders know that working on themselves is a full time
job. The more and better their self-work, the better
work they can get from those they employ and the less
fault and complaints they have with those around them.

Mark Victor Hansen’s
Treasury of Quotes

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See you next issue. :-)
All the best,
Shaunta
______________________________________________


The Top rated business to start is a Net Auction Business.
This is the perfect business for start ups. You can and will
learn everything you need to know to help with a new or an
existing business. For more details about this opportunity
go to: http://mynas.sitesell.com/tlmanage.html