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bookbinder resume What career will produce the largest growth? Most bookbinders and bindery workers train on 42, the job. Employment is expected to on adam smith of nations decline, reflecting the how to write use of smith wealth of nations, more productive machinery and the growth of imports of printed material that is already bound. Opportunities for hand bookbinders are limited because only a small number of establishments do this highly specialized work. The process of combining printed sheets into finished products such as books, magazines, catalogs, folders, directories is known as “binding.” Binding involves cutting, folding, gathering, gluing, stapling, stitching, trimming, sewing, wrapping, and other finishing operations. Bindery workers set up, operate, and maintain the machines that perform these various tasks.
Job duties depend on how to write 42, the kind of material being bound. In libraries where repair work on rare books is needed, bookbinders sew, stitch, or glue the assembled printed sheets, shape the book bodies with presses and trimming machines, and reinforce them with glued fabric strips. Covers are created separately, and glued, pasted, or stitched onto the book bodies. The books then undergo a variety of finishing operations, often including wrapping in paper jackets. In establishments that print new books, this work is done mechanically. In firms that do edition binding , workers bind books produced in large numbers, or “runs.” A small number of bookbinders work in hand binderies. These highly skilled workers design original or special bindings for limited editions, or restore and essay on african in the era rebind rare books. Library binders repair books and provide other specialized binding services to how to 42 libraries. Some types of binding and finishing jobs consist of only one step.
Preparing leaflets or newspaper inserts, for example, requires only folding. Binding of books and magazines, on the other hand, requires a number of steps. Workers first assemble the books and magazines from large, flat, printed sheets of paper. And The Sea Essay Assignment. They then operate machines that first fold printed sheets into “signatures,” which are groups of pages arranged sequentially. They then assemble the 42 signatures in sequence and join them by on adam, means of a saddle-stitch process or perfect binding (where no stitches are used).
Bookbinders and bindery workers in write small shops may perform many binding tasks, while those in large shops usually are assigned only one or a few operations, such as assembling sheets in a specified sequence, performing perfect binding, or operating laminating machinery. Others specialize as folder operators or cutter operators, and may perform adjustments and minor repairs to equipment as needed. Binderies often are noisy and jobs can be fairly strenuous, requiring considerable lifting, standing, and carrying. Binding often resembles an assembly line on good for a book report, which workers perform repetitive tasks. The jobs also may require stooping, kneeling, and crouching, but equipment is now widely available, such as scissor lifts, that minimize such activity out of concern for ergonomics. How To. Most bookbinders and bindery workers learn the craft through on-the-job training. Inexperienced workers usually are assigned simple tasks such as moving paper from cutting machines to folding machines. They learn basic binding skills, including the characteristics of essay, paper and how to how to cut large sheets of on adam wealth, paper into different sizes with the least amount of waste. Usually, it takes 1 to 3 months to learn to operate the simpler machines but it can take up to write 1 year to become completely familiar with more complex equipment, such as computerized binding machines.
On letterpress equipment, as workers gain experience they advance to more difficult tasks, such as embossing and essay history post-reconstruction era adding holograms. As workers advance, they learn to operate more types of equipment. Formal apprenticeships are not as common as they used to be, but still are offered by how to 42, some employers. Apprenticeships provide a more structured program that enables workers to sea essay acquire the high levels of write 42, specialization and skill needed for some bindery jobs. High school students interested in bindery careers should take shop courses or attend a vocational-technical high school.
Occupational skill centers also provide an in lessay introduction to a bindery career. To keep pace with changing technology, retraining is increasingly important for write, bindery workers. Students with computer skills and mechanical aptitude are especially in demand. Bindery workers need basic mathematics and language skills. Bindery work requires careful attention to detail; accuracy, patience, neatness, and good eyesight also are important. Manual dexterity is essential in spatial organization essay order to count, insert, and fold. How To 42. Mechanical aptitude is needed to operate the newer, more automated equipment. Artistic ability and imagination are necessary for how to, hand bookbinding. Training in graphic communications also can be an asset. Vocational-technical institutes offer postsecondary programs in the graphic arts, as do some skill-updating or retraining programs and community colleges.
Some updating and how to retraining programs require students to have bindery experience; other programs are made available by unions to their members. Essay. Four-year colleges also offer programs, but their emphasis is on preparing people for careers as graphic artists, educators, or managers in write 42 the graphic arts field. Without additional training, advancement opportunities outside of history post-reconstruction era, bindery work are limited. In large binderies, experienced bookbinders or bindery workers may advance to supervisory positions. In 2004, bookbinders and how to write bindery workers held about 81,000 jobs, including 7,200 as skilled bookbinders and 74,000 as bindery workers. More than 3 out of 4 bindery jobs are in commercial printing plants. Traditionally, the largest employers of bindery workers were bindery trade shops, which are companies that specialize in providing binding services for printers without binderies or whose printing production exceeds their binding capabilities. However, this type of binding is now being done increasingly in-house, and how to buy research papers is now called in-line finishing. The publishing industry employed nearly 1 in 10 bindery workers and how to 42 the advertising industry an additional number.
About one in twenty work in the employment services industry, which supplies temporary workers to companies that need their services. Overall employment of bookbinders and spatial essay bindery workers is expected to decline through 2014 as demand for printed material slows and productivity in printing and bindery operations increases. Contributing to this situation is the trend toward outsourcing of work to firms in write foreign countries, where books and other materials with long lead times can be produced more cheaply. Most job openings, however, will result from the need to replace experienced workers who leave the occupation, many of whom will be retiring in the next decade. Computers have caused binding to become increasingly automated. In Lessay. New computer-operated “in-line” equipment performs a number of operations in sequence, beginning with the presses’ output and ending with a finished product. Write 42. Technological advances such as automatic tabbers, counters, palletizers, and joggers have reduced labor requirements and have induced printing companies to acquire in-house binding and finishing equipment and how to maintain a permanent staff to operate them. 42. Growth in demand for essay wealth, specialized bindery workers who assist skilled bookbinders will be slowed as binding machinery continues to become more efficient. New technology requires a considerable investment in capital expenditures and employee training, so computer skills and mechanical aptitude are increasingly important for bindery workers. Write. Because the number of establishments that do hand bookbinding is organization small, opportunities for hand bookbinders will be limited. Though experienced workers will continue to have the best opportunities for these specialist jobs, the work done by write, hand bookbinders is being replaced by other activities in the binding-and-finishing field.
Median hourly earnings of bookbinders were $13.71 in May 2004. The middle 50 percent earned between $10.22 and $18.14 an essay history hour. The lowest 10 percent earned less than $8.67, and the highest 10 percent earned more than $21.50. Median hourly earnings of bindery workers were $11.31 in May 2004. The middle 50 percent earned between $8.92 and $15.06 an hour. The lowest 10 percent earned less than $7.38, and the highest 10 percent earned more than $19.30. 42. Workers covered by union contracts usually had higher earnings. Other workers who set up and essay operate production machinery include prepress technicians and how to write 42 workers; printing machine operators; machine setters, operators, and tenders—metal and plastic; and various other precision machine operators.
Information about apprenticeships and good to ask for a book other training opportunities may be obtained from local printing industry associations, local bookbinding shops, local offices of the Graphic Communications International Union, or local offices of the State employment service. For general information on bindery occupations, write to: Bindery Industries Association, International, 100 Daingerfield Road, Alexandria, VA 22314. Internet: http://www.gain.net/PIA_GATF/BIA/associations.html. Graphic Communications Conference of the write 42 International Brotherhood of Teamsters, 1900 L St. NW., Washington, DC 20036-5007. Internet: http://www.gciu.org/ For information on how to, careers and training programs in write printing and the graphic arts, contact:
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Now, can these. Earth , Mars , Olympus Mons 3158 Words | 9 Pages. Mars , it's where aliens come from, a Hollywood Sci-Fi mainstay, the mysterious red planet. But, what is Mars really? . Mars is the fourth planet from the Sun, orbiting 227,940,000 km away. Write. It's diameter of 6,794 km and report, mass of 6.4219e23 kg, makes it the seventh largest planet in our solar system. Mars , which is the Greek name for the god of 42 War, probably got this name due to it's red color, and is often referred to old man sea essay assignment as the red planet. What makes Mars look red? Mars ' atmosphere.
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10 Free PDF Business Plan Templates. Business plan templates come in all forms, shapes and sizes. The beauty of PDF business plan templates, however, is that users can create their own business plans while having a guide or reference point readily available in write 42 front of to ask book report them. Whether a business owner wants to create his or her own business plan or replicate one, PDF business plan templates eliminate the how to write 42, arduous task of starting from scratch. Below are 10 PDF business plan templates to essay on african history post-reconstruction, help you get started.
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After graduating from UC Irvine, she worked as a copywriter and blogger for nonprofit organizations, tech labs and questions to ask, lifestyle companies. She started freelancing in 2009 and how to 42, joined Business News Daily in 2013. Follow Sara Angeles on on african history in the, Twitter @sara_angeles.
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Create your free Business Plan now. Make an investment-worthy business plan easily with our free template. Select a Industry Fill in the Form. Complete your Business Plan. Print and Download For Free. Business Plans: Writing Guides, Downloadable Templates, and how to write Samples. Updated February 15, 2017 by Legal Templates. 1. Free Business Plan Template Download. Are you an entrepreneur looking to download a free business plan? If so, you have come to the right place. In Lessay! Legal Templates is happy to provide you with a hassle-free document downloads.
Click the buttons below to download (1) a blank document, and (2) a document that is filled in for you to reference. Related Business Documents: Click to View. What’s included in the blank template: In the first download, you will find documents with all of the chapters, section titles, and section subtitles that you will need to successfully complete your plan. How To Write! Our first plan contains the papers 8 chapters of a basic business plan including: Chapter 1: Executive Summary: The executive summary provides investors with a general layout of your company. This chapter is essentially your hook to convince potential financiers that your model is worthy of their investment.
Chapter 2: Company and Financing: In this chapter, the goal is to outline the legal and operational structure of 42 your company, financing requirements, the history behind the company, mission statement and essay american history post-reconstruction era the management team. If you are forming a corporation, be sure to how to 42 include your Articles of Incorporation here. Chapter 3: Products and Services: This section describes what products and/or services your business will sell (now and in the future), and how you will build, assemble and deliver them. It also offers a comparison of your company and your direct and indirect competitors. Chapter 4: Customers and essay Market Analysis: The customers and market analysis page indicates your target customer segments, what needs you are filling for them , and the latest trends among these consumers in write, terms of growth and behavior. Chapter 5: Marketing and Sales: The marketing and sales chapter allows you to organization essay describe how you will sell your product/service. Particularly what are your company’s strategies for positioning, pricing, promotion and distribution. Chapter 6: Strategy and Implementation: This chapter will give you an opportunity to set the key milestones that help establish a timeline of progress towards your goals. Additionally, it includes subsections like SWOT analysis, competitive edge, and write strategic alliances.
Chapters 7 + 8: Financial Plan, Sales Forecast, Financial Statements: In the final two chapters, entrepreneurs must define and calculate the spatial organization financial variables that will go into the creation/expansion of write 42 your idea, including its expenses, your anticipated sales forecast, personnel plan, cash flow assumptions, and more. If you are purchasing an essay american post-reconstruction existing company, you should also include the business purchase agreement in your plan. What’s included in the template with sample text: In the second download, we give you a completed ice cream shop plan to reference. Write 42! Each section gives an example of what you should write. In Lessay! Our guide also includes example graphs and charts, so that you are aware of the types of financial calculations, plans, and forecasts that a plan should offer to attract investment. For guidance on write 42, what you should include in your plan, and why, please reference our How to Write a Business Plan set of essay history in the era articles below. Downloading this small business plan comes at no cost, so feel free to write 42 start your download and get started. However, you should be aware that there are some pros and essay on african american post-reconstruction cons to using free business templates, rather than using professional software or an experienced writer.
Writing a business plan is a prerequisite to 42 your company’s success. Papers! A solid plan is necessary to help found your company and write 42 ensure that your goals remain on track over in lessay time. Write 42! Your plan can and will change as you encounter the unpredictable variables that come with starting your own company. If you have an existing company, crafting a solid plan is equally important if you’re hoping to old man sea essay attract investment and expand your company beyond the limits you’ve already reached. Your business strategy should account for the next 3-5 years in advance, and cover every aspect of how to your industry, including the critical relation between marketing and sales to your company’s finances.
Your plan should include the following sections before you submit it to investors. Click each accordion to read a how-to guide for each chapter: “How to Write a Business Plan” Table of Contents: How to Write the Executive Summary. The executive summary contains all of the essential information about what makes your business strong and worthy of investment . It covers the major highlights of the rest of your plan’s chapters. The goal is to briefly tell your reader what your company will do, where you want to take it, and old man why your business idea will be successful. If you are seeking financing, the executive summary is your first opportunity to grab a potential investor’s interest. The executive summary will be the first chapter of your business plan, though it’s actually the last section that you should write . First, you’ll need to do heavy research to write 42 ensure that your plan is sound before you can write the executive summary.
This section will be different depending on if you are an essay on adam wealth of nations established business or a new startup. A startup company’s executive summary will need to be interesting and convincing to how to write capture the attention of investors. Your company will lack the historical data and old man and the trends that existing companies are able to provide, but there are strategies to how to write 42 mitigate these factors. First, you’ll need to briefly explain who you are, the background of your management team, and your reasoning behind starting a business in your chosen niche. Secondly, you’ll need to in lessay demonstrate that you’ve done quality research that supports how you’ve conceptualized your business.
Investors know that talk is cheap – do you have the how to write 42 data and analysis to back up your claims? Even in a standard plan, the executive summary for an existing business has no set template, although there are several suggested guidelines that you can find around the web. Good To Ask For A Book! We suggest the following basic template – feel free to add or subtract sections according to your own needs: Summary Management Team Products and Services Customers Marketing and Sales Financial Forecast Financing Requirements (optional) Describe the purpose of the plan (e.g.; to raise a specific amount of debt financing to expand a store location) as well an overview of the company (name, location, company type, products sold, founder(s) and founding date). Describe the how to write 42 key milestones or objectives that you want to in lessay achieve with this business (these are the tangible results in which you use to how to write 42 prove success of the buy research papers venture). This statement should be concise and to the point. Summarize the members of the management team, including highlights of their expertise and experience . Describe how each member contributes to how to write 42 the success of the organization. Keep this section brief, as you will go into more detail in in lessay, the Products and Services section. Products and Services. Describe the products and services you are providing and who the competitors are within the industry . Keep this section brief, as you will go into how to write 42, more detail in the Products and Services section.
Describe whom your customer groups are and whom your key customers are , as well as how you will market to them. Keep this section brief, as you will go into more detail in the Market section. Describe briefly how you will market your product or service. Summarize the major points in the Marketing and Sales chapter, which may include market positioning, pricing, promotion, and distribution. Summarize the questions book report most important points from the Financial Plan section here. This should include your sales forecasts and write 42 projected expenses as well as the logic behind the projections. If you are a new company, describe when you expect to turn a profit . If you are an existing company, highlight past financial performance. 7. Financing Requirements (Optional) Summarize the old man amount of equity and/or debt financing that you are seeking, when you need it, the use of the funds, and when you expect to reach your next milestone event and/or start paying back the loan.
Keep this at write, an overview level , as you will go into more detail later on in other chapters. Note: This is essay on adam smith of nations, a complex question that you cannot answer until you complete your plan, so it is highly recommended you work your way through the entire writing process first . In particular, complete the financial planning process before attacking this section. Only then will you be able to identify the amount of money you will need to how to write 42 raise. With these sections fleshed out, you’ve finished your executive summary. How to Write the Company and Financing Chapter. The company and finance section of your plan is important, because introducing the essay smith management team is critical for both start-ups and established companies alike. Investors will use this information to gauge the how to write future likelihood of success.
Company and Financing Sections. Company Overview Management Team Required Funds (optional) Exit Strategy (optional) Mission Statement (optional) Company History (optional) Location and Facilities (optional) There are many variations and essay on adam approaches on how to lay out the how to write various components of a business plan. Our approach for the company overview section is to organization provide the reader with the company’s legal information, address and a brief description of the company’s history. Since there are follow up sections in write, this chapter that over go the company’s location and history in good questions to ask for a book, more detail, you will want to keep this short (2-3 sentences). A BRIEF PRIMER ON COMPANY TYPES. The optimal company type is best determined by how to, a credible Attorney. The primer below is meant only to explain the broad differences between the in lessay most common company types. A sole proprietorship, according to the IRS: “A sole proprietor is write, someone who owns an unincorporated business by him or herself.” While the history in the post-reconstruction most simple to set up and the most common, there is a significant drawback: you will be personally liable for any obligations.
So for how to 42 example, if you sell someone a cupcake and how to they sue you because they found a hair in it, and you lose in court, the creditors can legally go after your personal possessions – such as the write 42 roof over your head. A partnership, according to the IRS: “A partnership is the relationship existing between two or more persons who join to carry on a trade or business. In Lessay! Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the company.” A partnership has certain advantages compared to a LLC, such as not needing to file formation documents when setting up a partnership, and not needing to file dissolution documents if dissolving the partnership. However, similar to sole proprietorships, partners in how to 42, a partnership have unlimited liability for the company’s debts and liabilities.
Limited Liability Partnerships (LLPs) LLPs are different from traditional partnerships in that there are two classes of on african american history in the post-reconstruction era partners: (1) General partners that have full management and control but also full personal liability and (2) Limited partners that have no personal liability beyond their investment in the partnership interest. Write 42! Limited partners are often times “silent partners” that wish to for a invest in the venture but limit their exposure to liability. A corporation is a separate legal entity owned by shareholders. How To Write 42! A corporation is commonplace for businesses that anticipate seeking venture capital financing. On African American Post-reconstruction Era! The downside to a corporation is the problem of “double taxation” since the corporation’s profits is how to, taxed at the corporate level, and then any dividends distributed to good to ask for a book shareholders are then taxed again at the personal level. You can elect a special tax status with the IRS to how to write 42 have your corporation not be taxed at the corporate level (instead, it would be taxed as a pass-through entity). American History Era! Some of the drawbacks include not being able to have more than 100 shareholders , and not being able to have non-US citizens/residents. A popular choice among many small businesses , a LLC limits the member’s personal liability and only taxes profits at how to 42, the individual level (acts as a pass-through entity). Describe the type of company you plan to open, along with the registered name you plan to use.
Explain your rationale – for example, if you are starting a company where you plan on seeking venture capital financing, then you will want to in lessay start a C-Corporation as majority of VCs will insist on this legal structure. If you have a home office/no dedicated business address. Include your current office setup and your future office plans once your company expands, if applicable. For start-ups, and 42 especially those seeking financing, the spatial essay Management Team section is especially critical. How To! With the lack of history, there is little investors can go by to gauge the future success of a venture. The question lenders and investors will ask: Why should we trust your team with our money? You must demonstrate your team’s ability to execute on old man sea essay, the stated goals.
To accomplish this, you should highlight: Background of each member of the management team (education, relevant work experience, etc.) Roles and responsibilities within the company. Tip: Don’t include details about members of the how to Management Team that are not relevant to the reader. Old Man And The! Everything presented should reinforce why your team is the right team to execute on the company’s vision. If you have an established business the information you want to present is the write 42 same. Keep in mind, however, that you also want to organization demonstrate that your team has the capability to manage growth of the company. As a company grows from start-up to established business, the management team must also change. They must be able to how to write manage employees, institute standardized systems, and ensure the business’s ability to organization essay scale operations while keeping profitability stable. If you already have a Board of how to Directors and/or Advisory Board, list these individuals and a brief description. In a publically trading company the old man and the assignment Board of how to Directors is elected by the shareholders and is the highest authority in the management of the on adam smith wealth of nations company. For our purposes (context of a private company that is most likely a startup or small but growing business), a Board of how to 42 Directors is comprised of investor(s), founder(s), CEO and in lessay independent board member(s) who have substantial business and industry experience.
A Board of Director’s typical responsibility is to set broad policies for the company, determine compensation for company management, and approve annual budgets. An advisory board is a group of business leaders that can help guide your company and provides it with assistance when needed. Choose individuals with knowledge in your industry and are willing to play a role in your company . While some advisors are compensated, it comes down to a case-by-case basis, frequently depending on how much time the member is committed to your company. Tips on building your Advisory Board: Choose a well-respected and well-known individual as the first member of your Advisory Board. This will help you to recruit other members of the Board. 42! Choose individuals that have strengths and relationships your business will need.
As your business evolves, so will the essay on african american history in the members of your Advisory Board. Feel free to shake up the line up over time. In this section you will tell the reader how much money you need to how to raise, what you are going to use it for, and how you got to the requested amount. Important note: This is a complex question that you cannot answer until you complete your plan, so it is highly recommended you work your way through the entire writing process and in particular, complete the financial planning process. Only then will you be able to identify the amount of money you will need to raise. There are two primary financing options: equity and debt. The primary difference between equity and spatial organization debt financing is that debt financing is write 42, essentially a loan that is backed by your assets or via a personal guarantee. If your company is already in essay smith wealth of nations, existence and has trading history, then you may also secure a loan off of 42 your receivables. In contrast, equity financing is essay, essentially you exchanging a stake in your company for 42 a specific sum of money from an investor . Therefore, the in lessay amount you are able to 42 raise from investors comes down to how much they value your company. There are three fundamental questions every savvy investor will ask you: Cool idea, how do you make money with it?
How much money do you need, and how to buy research papers why and when? What do you think your company is worth? If you are seeking financing (regardless of its equity or debt), that most likely means that your financial model shows your company taking a loss in the initial stages, followed by write 42, break-even and subsequent profitability. The money you are seeking to raise will simply allow you to have enough cash to cover the initial period where you will be taking a loss so that you can eventually make a profit. This is a simplification; you may be raising money to further grow your company, which may already be profitable. Or you might use the financing to get your product to the next stage in its product development lifecycle (i.e.; milestone event). But the general concept is the same; the investment you are seeking bolsters your company’s cash position , allowing it to good for a grow revenue and/or profitability. Cool idea, how do you make money with it? / How much money do you need, and why and when? The financial statements provide the answer to how to the first two questions (which is why we recommend you complete your plan first). To answer how much money you need, analyze the cash flow statement to determine the cumulative cash flow.
The lowest point on this curve will tell you what your maximum financing needs are , and at papers, what point in time. What do you think your company is worth? The third question is much harder to answer, especially for a new company. At the write end of the day it really comes down to what an investor thinks your company is worth (which is more art than science). However, there are three popular methods of valuing a company that can help you come up with a valuation to facilitate the negotiation. Cost approach (asset based approach) The cost approach seeks to determine a company’s value by analyzing the market value of its assets. In other words, in this approach the in lessay company is worth the sum of how to 42 all its assets if they were to be liquidated . This approach may be appropriate for some industries such as real estate where the asset value may actually be worth more than the old man sea essay going concern value (present value of future cash flows generated by 42, the asset).
However, for many companies the value of its branding and reputation, along with its ability to generate profits, will exceed the on adam of nations value of how to write 42 its assets. The market approach seeks to determine a company’s value by analyzing recent sales of similar assets, with the theory that valuations of similar companies can serve as a good proxy. This is a common approach in the real estate industry. The income approach seeks to american in the era determine a company’s value by using its expected profit over time and then placing a value on how to write 42, that future stream of income in today’s terms . Since there is inherent uncertainty with a future stream of income, there are numerous ways to discount that expected income to essay on african era account for risk. Now you have all the pieces to complete the how to write equation.
You have the amount of spatial organization essay money you need by looking at cumulative cash flow. You also have an idea of how much money your company will be worth. Equation to determine how much equity you should offer: Equity to offer = Company Valuation / Money needed. If raising debt, you are not exchanging equity for cash. Instead, you should focus on the loan’s interest rate and payment schedule. Make sure you will be turning a profit that is how to write, both large enough and how to soon enough to ensure there is no delinquency on servicing the write loan. For equity financing, answer the following:
Investment amount needed When you need it How much time it will buy you / When you expect to and the turn a profit or get to the next milestone event % of equity offered and at what company valuation (you may wish to keep exact figures vague in order to further negotiate) Exit strategy. For debt financing, answer the following: Loan amount needed When you need it When you will be able to how to write pay back the loan The amount and frequency of loan payments. In addition to the information above, you should also summarize how you plan to old man assignment use the funds. The level of detail should be at a high level ; if the how to investor or lender wants to see expenses in more detail that will be available in essay history era, the Appendix within the how to write Profit/Loss statement. Construction of new kitchen:
Kitchen remodeling, March 1, 2014, $25,000 Kitchen hardware, April 1, 2014, $50,000 Total Loan Amount: $75,000. If based on your financial model you anticipate relatively small yet variable expenses month to month, a line of credit may be a good choice. How To Buy Research Papers! With a line of credit you draw upon it when you require the funds and pay interest immediately on the money as it is borrowed. It works very similarly to a credit card in that you typically have a pre-set limit to how to how much you can borrow, the major exception that since you may be able to old man assignment secure the line of credit with assets, you may be able to get better terms. In the Quick Start Guide we briefly went over the different strategies available and how thinking about your company’s eventual exit will help shape your business model. It’s recommended you review the Quick Start guide and practice that exercise.
Depending on 42, your company, there are various exit strategies available, including: Selling your business Passing it down through the to ask for a book report family Taking the company public (IPO) Liquidation. If you are seeking equity financing, then your investors will pay close attention to how to 42 this section. Angel investors and VCs demand a large return on their investment since they are taking a large risk by smith, investing into your company. Therefore, you need to include detailed information on how you intend to sell the company or take it public. Demonstrating a large market opportunity. If investors are going to take a big risk, they demand a big return. You need to demonstrate your business has the potential to either take substantial market share from an incumbent competitor, or create a new market. Investors like to how to 42 be in hot, growing industries such as biotechnology, mobile e-commerce and healthcare.
These are all industries that have huge upside growth potential and ones that investors are more inclined to invest in. Solving a larger company’s problem. If your exit strategy is to sell your company to a larger company, then identify how your company’s product solves that larger company’s stated problems and/or goals. For example, Apple’s mapping software is playing catch-up to Google Maps. If your company can help Apple improve its software, your company would become an attractive acquisition target. The mission statement reflects the organization essay core purpose and how to 42 vision of the company. On African American! It’s a statement your employees and customers can get behind. Some tips on writing a well-crafted mission statement: Keep it short. 1-2 sentences max. Don’t use “fluff” words.
Make the statement mean something. A mission statement, if done well, should encapsulate both what the company does (what it sells) as well as the culture/vision/purpose. Examples of Fortune 500 firms that really get it right: A. Write! BRISTOL-MYERS SQUIBB COMPANY (PHARMACEUTICALS) Mission Statement: “To discover, develop and deliver innovative medicines that help patients prevail over serious diseases.” Why it’s great: The keywords “discover, develop and deliver” demonstrate the company’s capability to in delivering an end-to-end solution. By using the to ask words “innovate” and “prevail over how to 42 serious diseases” it serves as a rallying call for questions to ask book report their thousands of employees that what they are doing is (1) cutting edge and write (2) has a higher purpose then themselves. Mission statement: “ We will be the easiest pharmacy retailer for customers to use.” Why it’s great: In one short sentence, the company has managed to (1) describe what it sells (2) how it will win in the marketplace. Essay History Post-reconstruction Era! It is a pharmacy retailer and it will solely focus on making itself easier for the customer to use (that could mean so many things, such as innovating online to 42 fulfill prescriptions to improved customer service within their stores).
Example of poorly written mission statements. A. FORTUNE 500 FOOD AND BEVERAGE COMPANY. Mission statement: “ The Company’s primary objective is to maximize long-term stockholder value, while adhering to in lessay the laws of the jurisdictions in which it operates and at write 42, all times observing the highest ethical standards.” Why it’s horrible: It does not serve as a rallying call for in lessay employees, suppliers, or partners. Its objectives are obvious (what company does not want to maximize value) and borderline absurd (are there companies that do not want to adhere to local and federal laws)? Lastly, it does not mention what the company actually does.
B. FORTUNE 500 VEHICLE PARTS SUPPLIER. Mission Statement: “ We are committed to attracting, developing, and keeping a diverse work force that reflects the how to write 42 nature of our global business.” Why its horrible: While a diverse workforce is certainly not a bad thing, only buy research, stating that as the company’s mission statement is ineffective, lacks direction or focus, and completely misses the point of having a mission statement. This is predominately for businesses that have previous trading history, but can also be used by how to, new companies that want to highlight relevant history on how the company came to good questions to ask book existence, work completed to date, milestones achieved, etc. Some information you may want to include: Start date First location First product/service Significant milestones/events. Reminder: keep in how to 42, mind that there is no set rule as to the level of detail you want to include. This is dictated by the relevancy of the information to spatial organization the reader and how this information helps strengthen your plan’s ability to build credibility for your company. Every company is made of milestones. Milestones for a business are achievements that demonstrate the business is on the right track.
They are best when quantifiable and how to 42 measureable. For example, achieving a working prototype of your product, or getting to break-even, are both huge milestones that showcase your ability to execute and to ask for a book report reduces subsequent risk of how to write 42 your company. Key concept: The more uncertainty that you can take off from the on adam smith of nations table, the better valuation you can get for your business. For businesses that have a retail or manufacturing component, this is an write important section of your plan. Information you may want to include: Size (e.g.; in sq. ft.) Location/Address Other notable facts, such as equipment at the facility. Location is in lessay, important for 42 a large number of spatial essay retail businesses, whether you are a restaurant or purveyor of consumer products. If possible, provide statistics about the retail location you have chosen or are planning to how to write 42 choose. Describe the lease terms you are able to secure, and if there are any laws that protect the lessee from unreasonable price increases. Good To Ask Book Report! You can read a detailed article about how to write what to look for old man and the in a lease agreement here.
Provide detailed information on the manufacturing facilities. For example, your operation may require a reliable source of electricity and water. Describe how the how to write facility provides the business with these resources. American In The Post-reconstruction Era! If the how to write 42 facility is pre-existing equipment or structures that can be leveraged, make mention of that. Location can be an important aspect of your business even if you are not in retail or manufacturing. For example, you might want to open your software company in Silicon Valley as that provides a competitive advantage from an employee recruitment and and the assignment fundraising perspective. If you operate out of how to write a home office. Describe your future expansion plans, including expected date of spatial organization essay expansion. Upon completing these sections, you will then be finished with the company and financing section of your business plan.
Writing the Products and Services Chapter. The products and how to write 42 services chapter of your business plan should be written clearly and descriptively, to help give investors a comprehensive understanding of the bread and butter of your business. Your products and on african history era services section should include the write following sections. Products and in lessay Services Chapter Sections. Products and Services Competitors Sourcing and Fulfillment (optional) Technology (optional) Intellectual Property (optional) Future Products and Services (optional) Your products and services are the lifeblood of your business – it’s what your customers need, and if you get this right, everything else will follow . Commonly referred to as “product lift”, which essentially means getting the secret sauce working. It means that customers want to buy your product/service, and you are filling a need that was previously not satisfied. Thinking in terms of write 42 benefits vs. features. What is the essay on african consumer really buying? For example, a person buying a Rolex watch is not only buying a device to tell time, but the how to prestige and status that comes with a luxury product.
Think about on african american history in the post-reconstruction era what end benefit your product/service delivers. Of course, the functional aspects of write your product/service are also important. Depending on what you are going to sell, think through the features it will provide, packaging, design, branding, quality, and old man sea essay assignment other aspects that help position and/or differentiate it from how to competing products/services. You may have heard the business adage that acquiring a new customer is indefinitely more expensive then keeping an existing customer. One of the on adam wealth reasons this is true is the potential to sell additional add-ons, upgrades and substitute products/services to existing customers . Think about how you can drive incremental revenue. Whether it’s via subscriptions, repeat business, or annual contracts, you may be providing products/services that generate a recurring revenue stream. How To 42! This is a good thing, because (1) your revenue can be more predictable and stable (2) you are maximizing earning potential . Think how you can generate recurring revenue, which is expressed with a metric called Lifetime Value per good questions to ask for a, customer. You will complete the price you want to set your products/services in the Financial Plan chapter, and we also have a section for you to describe your pricing strategy; however it is advisable to start thinking about how you want to price your products/services. Competitive analysis is an extremely useful tool and write 42 one that should be revisited often as the competitive landscape changes over time. It starts with competitive analysis. Background (location, history, ownership) Financials (revenue, profitability) Products (product line, services, patents, licenses) Marketing (channels used and budget, pricing, alliances/affiliates) Personnel (headcount, notable executives, compensation, job openings) Market share Strengths, Weaknesses.
Tips on how to perform competitive analysis. The Internet makes this much easier then in spatial essay, days past. Some ideas: Google search using keywords that your customers would use to find you Look up industry association websites Look up directories such as Yahoo or Crunchbase Use Indeed.com to how to find your competitor’s job openings Competitor’s websites Find your competitor’s management team members on LinkedIn. Not only old man sea essay assignment, do you have to worry about current competitors you can see, but you have to be vigilant and be on the lookout for how to write 42 new entrants. For example, a company that already sells to your customer base may see your industry as a logical next step. You should consider the likelihood of new entrants high if:
The industry sees high margins (its super profitable) There is unmet demand (more customers then suppliers) There are no major barriers to entry (does not take much to book report start competing) There is future growth potential (such as mobile apps) Much of this is common sense – if you see a market opportunity that no one is competing in yet, don’t expect that you will be alone for long. Sourcing is simply the process of procuring goods and services from suppliers that are required for your company to make its products or deliver its service. Some things to write consider when choosing and managing your suppliers: Cost: This is an in lessay obvious one – the write 42 lower the price, the higher your profit margins will be. Payment terms: The longer you have to essay on african post-reconstruction era pay your suppliers, the more working capital you have on write, hand.
Reliability: You must consider how reliable your suppliers are and what would happen to papers your ability to how to operate if they cannot deliver. Scalability: As your business expands, will your suppliers be able to meet your needs? Fulfillment is simply the essay smith of nations process of how your company delivers its products/services, from point of sale to delivery. Write 42! There are several popular fulfillment options: Engineer to order: the product is designed and and the built to customer specifications (e.g.; large construction projects) Build to order: the product’s design is standardized but manufacture of final product is how to 42, based off of customer specifications (e.g.; aircraft and yachts) Assemble to order: the product is good for a, assembled to the customer’s specifications using pre-fabricated components (e.g.; Chipotles burritos, Dell computers) Make to how to write stock: the product is manufactured in quantity based on expected sales of the product (e.g.; retailers)
If you are going to be selling physical products and expect to hold inventory, then you should pay very close attention to how you forecast the amount of inventory you need to meet your projected sales. Too little inventory and you may not be able to meet demand. Too much inventory and you tie up all of your cash on excess inventory. Some key points: Have accurate sales forecasts. How To Papers! Use historical sales data if you have it, and make sure you account for 42 seasonality. Have accurate inventory tracking. Use bar code scanning or equivalent to ensure there are no data entry errors. Utilize inventory management software. QuickBooks, Sage, and a plethora of other vendors provide a cloud-based solution for you to in lessay manage and maximize your inventory levels. Technology in today’s business environment is becoming more and more important and serves as a source of competitive advantage.
Take Wal-Mart or FedEx as two examples of 42 companies that provide services (low-cost products and shipping), but utilize technology as a critical means of in lessay delivering those services. Wal-Mart uses a sophisticated supply chain management IT system to ensure its low prices. FedEx uses technology to how to write 42 optimize delivery routes and times, which enables it to ship to practically every corner of the globe, seamlessly and with very low error rates. Think about how technology plays a part in your business and if it is critical to your business operations. If technology is critical to your business operations, then you must think about essay smith wealth of nations your disaster preparedness and write contingency planning . Depending on your business, you may want to create back-up copies of data and software, routine security checks, and securing physical assets. What would happen if you lost access to the technology? Think about alternatives that you could utilize. For example, if you license a piece of software and later down the road decide that the essay in the post-reconstruction era cost is how to, too high, is essay american history in the era, there a competitor who can license you an alternative? If you have exclusive rights to a technology, either through a patent or through an exclusive license agreement, this is a great competitive advantage and how to write 42 one that you will want to how to buy research papers describe in detail. There are two types of intellectual property that may be applicable to how to 42 a business: industrial property (such as patents and trademarks), and copyright (such as novels and movies).
If you have intellectual property that you want to protect, it is spatial organization, advisable that you seek the professional advice of a good Patent/IP Attorney , since this is a great way to provide a barrier to entry for your business. Intellectual property type 1: Industry property. These include inventions (patents), trademarks and industrial designs (trade secrets, trade dress). If you have any proprietary process or technology then it is recommended that you apply for a patent to protect your invention. You should apply for how to a trademark for your company name and logo as well.
Intellectual property type 2: copyright. These include literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs. In 2011, counterfeit copyrighted and trademarked goods were a $600 billion dollar industry worldwide. Enforcing your intellectual property may be feasible from a legal point of view, but many times is to ask for a, not practical in practice. For example, Microsoft cannot possibly prosecute every single instance where its popular operating systems are copied and downloaded.
IP and your employees and how to 42 contractors. It is just as important to secure your intellectual property in how to papers, relation to your employees and contractors. Everyone should be required to write 42 sign an buy research papers invention assignment agreement, which basically states that the company owns all works produced while contracted by the company. In addition, you may consider handing out serialized notebooks for employees to use , so that if there is ever a conflict as to how to 42 whom owns a piece of intellectual property, there is a physical record. If you have future products and services planned, it is a good idea to and the assignment describe the product roadmap and write 42 strategy behind it . A key concept is that of product lifecycle, which describes the stages of the life of a product. During this phase, your product will incur heavy promotional costs as you get the good questions to ask for a word out. How To! You may discount the price of the product to encourage new customers. During this phase, you may focus on essay on african american history in the, expanding your product to new segments in the marketplace, and expand the how to write 42 product line (for example, with new colors or other variations).
During this phase, you are enjoying the fruits of your labor. In Lessay! You may add new features to your product to 42 stay competitive and to further differentiate your product from competitors. Marketing spend for your product starts to dissipate as sales of your product are in steady decline. After including all of this information, you’ll have completed the old man sea essay products and services chapter. Writing the Customers and Market Analysis Chapter. The customers and market analysis chapter will give you an opportunity to 42 describe what your customer segments are, what needs you are filling for them, and how these groups of customers are trending in terms of growth and behavior.
This chapter also includes any regulatory restrictions specific to your industry. Customers and Market Analysis Sections. Market Overview Market Needs Market Trends (optional) Market Growth (optional) Industry Analysis (optional) Key Customers (optional) In the market overview section you are going to calculate the total market (referred to as Total Addressable Market) for your products, and then the segment of that market your business can capture. Total addressable market can be thought of in several distinct levels. Essay Smith Wealth! At the highest level is an estimate of the total market given 100% saturation. Another way of looking at this is what would be the total market if one company had 100% market share. Once you have the total addressable market, then you can estimate what percentage of this you can realistically capture. This, of course, is much harder to predict with accuracy. So the important thing to remember is to utilize strong sources for your assumptions. For example, lets say you plan to write 42 open a high-end steakhouse in downtown Miami.
To calculate your total addressable market, you might count how many high-end restaurants are in and the, the downtown area and research the average annual sales for each restaurant. Then multiply the two to get the total sales for all high-end restaurants. How To Write! This would be your total addressable market. Using the in lessay example above, we can then drill down to the next level and determine what percentage of the market you can realistically capture. You might assume that you will take an equal share of the market, thereby decreasing all other competitor’s shares in the market. Or you might offer cheaper prices, which you assume would take a larger percent of the market. Whatever your assumption, make sure it is well documented and logical. To obtain jaw-dropping product-lift you must solve a difficult and write 42 painful problem for the customer.
And if there are competitors, you must solve the organization essay problem better than them, and enough so that customers are willing to switch to your company. Describe what problem your product is solving. If you are targeting multiple customer segments, make sure you go into detail on how your product serves each customer segment. Describe how your solution better solves customer’s pain points then your competitors. We as consumers are inherently lazy. We do not want to how to go through the time and in lessay cost of switching from one company’s product/services unless it is compelling enough, which is dependent on the switching cost.
For example, there is how to write, virtually no cost to switch from spatial Coke to Pepsi. On the other hand, there is high switching cost associated with migrating from a Mac to 42 a PC. And The Sea Essay! To overcome this problem, describe how your product either is able to overcome customer’s inherent adversity towards switching products, or if your product is how to 42, able to reach new customers and bypass switching costs altogether (in other words, instead of essay american history in the post-reconstruction era taking customers away from write your competitors, you are creating a new market for your products). Understanding market trends at on african, the macro level is critical for various aspects of 42 your business. Organization! A growing or shrinking market is described in more detail in the market growth section. Below are some of the write other factors that will affect market trends: The overall economy has a disproportionate effect on some businesses. Essay! For example, dog-walking services usually see a decline in sales as households reduce spending on non-essential purchases. Government regulations and policies can completely alter an write industry, so it is imperative that you are up to date on how to, upcoming changes.
For example, the Jobs Act of 2012 allowed for 42 the first time non-accredited investors to participate in smith wealth of nations, private placement of securities. This in turn has created a new market for crowd-funding websites to emerge to connect startups with all types of investors. You may be in an industry where political conditions have an impact on the bottom line. For example, if you count the Dept. of Defense as one of your clients, then the how to across-the-board budget cuts (i.e.; Sequestration in the Budget Control Act of 2011) would surely have a negative effect on your business. If you build your business on top of a technology platform that will soon be replaced with a more cost affordable, powerful, and easier to use technology, then that will surely put you in a less advantageous position. Knowing technology trends is valuable in good questions to ask for a book, ensuring you are gaining a competitive advantage through the use of technology. Your customers may change their sensitivity to price depending on write 42, a variety of factors, including competition, macroeconomic conditions, and changing consumer tastes. Keeping an eye on this trend will ensure you optimize your pricing strategy. Market growth, mathematically, is simply measuring the change in market size from one time period to the next (usually in years).
So if the market in the first year was $100 million and $150 million the second year, then the market can be said to have grown by 50%. You will find that measuring market growth using historical market size data is much easier then forecasting market growth. Papers! Utilize publically available data sources, trade publications, market research firms, and how to write government agencies to find much of this research. Being able to demonstrate a market is growing is obviously important – for example, the market for Blackberry accessories is clearly a declining market. Most investors and in lessay lenders will not want to see a new business chase after dwindling customers. On the write other hand, the market for Apple and Samsung phone accessories have seen great growth and organization essay will continue to grow as those companies continue to add new customers.
Your industry is defined as the group of companies that are related to you in write 42, terms of what you sell/how you derive your revenue. In Lessay! For example, Ford and Nissan are both in the automotive industry. How To Write! Ford and Nissan’s market (i.e.; customers) would be the end consumers who buy their cars. You will want to describe your industry name/classification (SIC/NAICS Code), which can be found on the Dept. of Labor website. Understanding your industry’s dynamics is how to papers, imperative to knowing it’s profit potential and attractiveness. A popular framework for how to 42 conducting industry analysis is Porter’s five forces analysis, which analyzes an essay on african history post-reconstruction era industry’s competitiveness (and therefore attractiveness). By performing this analysis you will have a clear picture of your competitors and how your company fits within the competitive landscape. If your industry has low barriers to entry and how to write 42 low switching costs, then expect increased competition, as there is little standing in the way for new entrants to essay history era enter the market and compete. If your industry is supplied by very few suppliers with little alternative but to source from those suppliers, then expect downward pressure on your margins. If your industry only has a small number of buyers, or there are many alternative products to choose from, then expect downward pressure on your margins. If there are many substitute products in your industry and the switching costs between them are low, then expect substantial competition.
An industry is how to write 42, very competitive if there are many competitors about the same size, there is little differentiation between competitor’s products, and questions to ask for a book report it is 42, mature with little growth (so the only way to grow is to take a competitor’s market share). Although your product may cater to many different sets of customers, you want to focus on a select group that will be the in lessay most likely to purchase your product/service and account for the lion’s share of your company’s revenue. For many businesses, you will soon realize that a large portion of your revenue comes from a small percentage of your customers. For example, Starbucks may realize their key customers are white-collar business types that purchase a cup of how to write 42 coffee every day, versus the student type that comes in essay american post-reconstruction, once a month. When you can name your key customers. If you are in how to, a business where volumes are low and prices are high, then you should be able to how to name your key customers individually. In this case, you should describe in 42, detail your relationship with each of spatial organization them separately. If you’ve filled out this chapter, congratulations. Doing market research and customer analysis is a complicated and time consuming task. Time to move on to the next chapter! Writing the write 42 Marketing and Sales Chapter.
The marketing and sales chapter gives you an opportunity to describe how you will manage your sales force and what sales activities they will conduct in order to buy research close sales. Overview Positioning Pricing Promotion Distribution. In this section, summarize your marketing plan, being sure to how to include: Positioning: Are you going to be the lowest cost provider or provide a differentiated product? Pricing: How will you price your products/services?
Promotion: How will your market your products/services? Distribution: Where will your product/services be available? Tip: It will be easier to write this section after you complete the subsequent sections as the overview section summarizes key findings from the other section. Keep this section at the summary-level, as you will go into further detail in the subsequent sections. Describe how you position your company within the competitive landscape. Will you compete on price, or will you differentiate your offering and stand out from on adam wealth your peers?
For example, Wal-Mart positions itself as the low-cost provider in 42, an industry, while Apple designs premium products to reach the luxury end of the market. Provide your product/service at the cheapest price point in the marketplace. There are three primary ways to achieve this: Economies of Scale: For example, being able to and the assignment turn more tables in how to write 42, a restaurant or produce more widgets in a factory. The more you are able to spatial essay produce from how to write 42 your asset, the cheaper it becomes. It will also be harder for essay wealth of nations your competitors to enter the market since you have fixed assets and experience that requires a large investment. Low operating costs: Keeping costs down across all aspects of the business, including: Standardization: Limited customization Outsourcing: Outsourcing labor to how to 42 low cost production centers Thrift: Limiting advertising and RD spend Optimized supply-chain: By lowering inventory and negotiating with suppliers, companies can substantially improve their profitability and cash flow. Making your product/service unique by targeting a specific segment of the market is a compelling strategy, especially if: Your customers are not price sensitive The market is competitive Your are targeting a specific niche You can provide a product/service that is not easily copied. You can also achieve differentiation through branding and in lessay marketing – for example, Starbucks sells premium coffee at a premium price point, primarily through the strength of their branding and not through the taste of their coffee. Determining the optimal price for write 42 your products/services will require you to in lessay think through several factors:
If you are going shooting for the low cost provider strategy, then you will want to price yourself accordingly. Write! Likewise, if you are going for essay smith of nations the luxury end of the market, then a higher price is often times a proxy for quality. How price sensitive are your customers? If your customers are making their purchase decision primarily based on price, then you will want to be sensitive to this. The price you set must be high enough to over your costs so you can turn a profit. There are, of course, exceptions. For example, you might want to achieve economies of scale by maximizing units sold, or you might be maximizing revenue to achieve dominant market share. There may be regulatory/legal constraints on how much you can charge. For example, payday loan vendors are restricted in how much they can charge their customers. Looking at what your competitors charge can give you a understanding of what current customers are accustomed to paying and will likely be willing to how to 42 pay for your products/services. There are price points that consumers are psychologically more accustomed to, such as amounts ending in .99 or .95.
In this section, you move from describing your marketing plan onto how you will convey your marketing message to your intended audience. What marketing channels will you utilize to reach your target customers? Depending on your business, traditional media may be an important component of your complete marketing toolbox. These would include television, radio, billboards, flyers, etc. In today’s environment few companies can afford not to have a strong online presence. There are a myriad of options available. Each marketing channel must be carefully measured for in lessay effectiveness, as online marketing can quickly add up and consume a small business’s entire marketing budget.
A website is a key component of your digital marketing efforts as it will be the how to destination in which your online leads will first visit. Some online marketing options include: Search engines (i.e.; Google, Bing) Directories (Yelp, Angies List) Daily deals (Groupon) Email marketing Social media (Facebook, Twitter) Word of mouth marketing is by far the most profitable and powerful marketing channel available to organization any business. New customers that are referred to your business are more likely to purchase and more likely to continue referring your company. There are ways to how to write boost word of mouth marketing, especially with the on adam smith advent of how to social media. For example, asking a satisfied customer to like your business on Yelp and Facebook will potentially reach hundreds of their contacts, all with one click. Integrating social media into your word of mouth marketing strategy is invaluable for spatial essay every business. Blogging/Becoming a subject matter expert.
Having a leading voice in your industry will help your business gain credibility from customers, suppliers, partners and competitors. You can start by participating on public forums and write 42 blogs related to your business and old man sea essay assignment adapting the adage “give more to how to 42 get more”. How will your products be available? On one end of the spectrum is direct marketing, whereby you sell directly to your customers. Or if you manufacture your products, you might sell through distributors, who in on adam wealth, turn sell to retailers, who in turn sell to consumers. Three common models: Product is stocked in mass-market distribution channels. 42! Examples include soft drinks, magazines, etc. Product is specialized and sold through specialized channels. Essay! Examples include nautical computers and tooling/machinery. Product is only sold through an how to write exclusive channel.
Examples include luxury products such as high-end motorcycles or designer handbags. The Internet presents an unparalleled opportunity to reach customers directly, as well as working with online channel partners to reach and sell to customers. Writing the Strategy and Implementation Chapter. The strategy and good for a implementation chapter will give you an opportunity to how to write 42 define the in lessay key milestones that mark meaningful progress towards your goals. How To! It also includes sections that further elaborate on your competitors. Strategy and Implementation Sections.
Milestones SWOT Analysis (optional) Competitive Edge (optional) Strategic Alliances (optional) Milestones are the key events that demonstrate progress is being made , such as completing the company’s first prototype or breaking even. Spatial! These provide a tangible way to write 42 measure the success of the in lessay business venture. Milestones are so incredibly important to a business yet are one of those things that can be easily overlooked. Why are milestones so important? Because they are a way to measure meaningful progress of a company that in effect, makes that company less risky (and therefore more valuable). A new company has an extremely high-risk profile – but as it meets tangible milestones, such as completing a prototype or breaking even, the company’s risk decreases. It becomes more apparent that the venture will succeed. Investors and lenders will be looking at what milestones your company has reached in write 42, order to create a fair valuation.
Milestones might include: Assembling company team First working prototype Filing/receiving patent or other IP Securing physical location for buy research store First paying customer Breaking even Turning a profit* *If you can demonstrate not only turning a profit, but also sustaining that profit, then that is a huge milestone. SWOT Analysis is how to write, a useful technique for understanding your company’s strengths and essay on african american history era weaknesses , while identifying both the opportunities open to your business and how to write 42 the threats it faces. Strengths and Weaknesses refer to internal factors in your company, such as: Employees and staff Physical assets such as equipment and facilities Financial assets. Opportunities and Threats refer to spatial external factors facing your company, such as:
Market trends Regulatory and how to write 42 legal Macroeconomic conditions Competitors. Competitive edge can be bucketed into four primary areas: cost, differentiation, innovation and operational effectiveness. Are you providing a product/service at a lower cost then your competitors? This is essay on adam smith, a straightforward competitive edge that is very difficult to deliver. Providing the lowest cost may require operating on razor thin profit margins or heavy investment in fixed costs in order to achieve economies of scale.
Are you providing a product/service that your competitors are not offering or cannot offer? This is a common strategy whereby you provide differentiated value in order to better serve customers and/or reach a portion of the write 42 market that may be under-served. Are you leapfrogging your competition and providing a notably superior or new product/service? Popularized by the book “Blue Ocean Strategy”, creating new demand in an uncontested market space is a powerful business strategy. Do you provide superior time to essay history post-reconstruction era market or customer service?
For example, your customers may be willing to pay a higher price for better customer service . Nordstrom’s is an example of how to a company that uses superior customer service as a competitive advantage. Forging strategic alliances is a commonplace occurrence in good questions for a book, business. There are a wide variety of alliances you might encounter, with various parties in which you do business. Even if you do not have any alliances, there may be an opportunity for a partnership in the future and that should be included in write, this section. You might have a supplier who has a disproportionate amount of influence and power of how to papers your business. Striking a partnership in this case may decrease those risk factors and provide a competitive advantage over your competitors. You might have a large portion of how to your revenue coming from several key customers. Inking an exclusive agreement to lock in revenue would, for instance, give you predictable cash flow. It is not uncommon to partner with competitors under certain circumstances – for example, to set standards for the industry or to help further adoption of a technology. For example, Sony and Panasonic partnered together to increase the adoption of in lessay Blu-ray DVDs.
Aligning your brand with another company is frequently used, especially if both brands are targeting the same demographic. For example, Samsung is the official sponsor of the Olympic games and how to write 42 will provide free mobile phones to all Olympic athletes. Upon completing these sections, your strategy and implementation chapter will be finished. Writing the Financial Plan, Statements, and Sales Forecast Chapters. Writing the old man sea essay assignment financial plan, financial statements, and write 42 sales forecast will be the most difficult part of in lessay your entire plan. Write 42! It requires making a large number of intelligent assumptions about the size of the market you can realistically target, and the costs associated with making your product or rendering your services. These sections are the good report red meat of your plan — these are the chapters that any seasoned angel investor or venture capitalist will dig into to write 42 make sure they know they’re making a solid financial investment. Chapter 7: Financial Plan and in lessay Sales Forecast Sections. Sales Forecast Personnel Plan Budget Cash Flow Assumptions Loans and Investments Starting Balances Historical Financials Key Metrics for Success.
Define the price in which you will sell your products and services, the cost it will take to produce or sell the product/service, and the number of units you will sell. How To 42! Be conservative when making your estimates on the number of units you will sell, ensuring you have a reasonable methodology when making your forecast. It is highly recommended that you first complete the following sections as they lay the foundation for defining the sales forecast. Products/Services section: Defines what you will sell and at in lessay, what price point; also seeks to define the production cost Target Market section: Defines the size of your target market and what quantities you can sell. Tip: Your sales forecast should sync with your Sales and Marketing plan. 42! For example, if you plan on hiring several sales people nine months from the start of your business, you should forecast an increase in sales thereafter. This is the price you will sell your products/services. Fixed price: Suitable for most sales forecast modeling Price changes over organization essay time: The price of your product/service may increase/decrease in price over time for several reasons: Keep up with inflation Keep up with increased cost of raw materials or components Seasonal product – discount to offload excess inventory Promote new product – discount upfront to encourage sales, then increase later. This is the direct cost of producing your product/service (at the unit level).
Otherwise known as cost of how to 42 goods sold (COGS). Fixed costs: Suitable for in lessay most sales forecast modeling % of sales: A good way to 42 forecast costs; as sales increase you can set the cost as a % of sales on good questions to ask for a book, a sliding scale. How To! Costs vary each month: The cost of your product/service may increase/decrease in price over time for several reasons: Economy of spatial organization scale: the more units you produce, the cheaper it becomes to produce them Bargaining power: the more units you buy from your supplies, the cheaper they become Seasonality: cost of raw materials may fluctuate based on time of year. This is the expected number of units you will sell. My units are constant: Not particularly suitable as most businesses will expect to have some growth over write time. Units sold changes over time: The quantity sold of your product/service may increase over time for spatial organization several reasons: Growing market share Finding new markets. Sales tax requirements vary by country and by products/services sold.
In the United States, there is no sales tax at the federal level; however, many states levy selective sales tax on particular goods or services. Check with your state department of taxation if you are required to collect sales tax. If yes, you collect the sales tax from your customers and then remit the tax to how to 42 the state each year. If the in lessay individual assumptions used for each component of the sales forecast is accurate, so will the overall sales forecast. You should be able to explain where each number comes from, citing studies/research that validates your assumptions. The costs of write hiring personnel are often the largest expense of any business.
In this section, you will enter forecasted employees and contractors you plan to hire. The number of personnel you plan to hire and at what time is more of an art then a science. Too much staff too soon and you’ll burn through your working capital. Too few staff and you’ll run the spatial organization essay risk of write alienating your customers and partners when you can’t deliver. A good way to think about your personnel plan is to think about the in lessay milestones you want your business to accomplish and how to what personnel are required to get your business there.
You can always revise your estimates, so start off with your best estimate and in lessay come back to this section later. Write 42! Tweak as needed so that your business model demonstrates profitability within your target time frame. The type of company you are building and on adam smith wealth of nations the financing required also makes a big difference in your staffing plan. 42! For example, if you are seeking venture capital that mean you are going to want to hire and organization scale quickly in order to generate large revenues. Conversely, if you are seeking debt financing, you want to operate as lean as possible and maximize profitability so you can service your loans. Fixed amount: Suitable for most situations. How To Write! Changes over time: You might want to buy research papers define a compensation plan for sales personnel that have an annual bonus component, for example.
Employee: If choosing employee you will have to consider certain employee taxes and other considerations. Contractor: If selecting contractor, ensure that you are classifying said contractor correctly. In the United States, for write example, you are legally required to provide employee-type benefits in book report, certain situations even if you classify the personnel as a contractor. If hiring employees, you will be responsible for additional costs such as (but not limited to) payroll taxes, worker’s compensation and health insurance, paid time off, training and travel expenses, vacation and sick leave, pension contributions and other benefits. This is how to 42, referred to the burden rate, which provides a truer picture of essay on adam wealth total labor costs than payroll costs alone. Burden rate only affects employees and not contractors. How To 42! If unsure what to smith enter, 15% is a fair estimate. Explain the assumptions and methodology used to define the personnel your business plans to retain, including how you came up with your compensation figures and write 42 burden rate. For example, you might explain that as you plan to on adam wealth of nations hire several sales people to coincide with the release of a new product. Enter expenses you plan on 42, incurring for your business. Essay On Adam Smith Wealth! A good way to how to make sure you capture majority of your business’s expenses is to think through costs associated with each functional area of your business, such as product development, marketing and operations.
Categorize expense into groups, such legal and administrative, rent and leases, and telecommunications. Do not include fixed asset expenses (assets whereby you derive value from for good questions more than 12 months) such as a company van or computers. Write! You will enter these in the next step. Advertising Expense Amortization Expense Auto Expense Bad Debt Expense Bank Charges Cash Over and Short Commission Expense Depreciation Expense Employee Benefit Program Freight Expense Gifts Expense Insurance – General Interest Expense Professional Fees License Expense Maintenance Expense Meals and Entertainment Office Expense Payroll Taxes Printing Postage Rent Repairs Expense Salaries Expense Supplies Expense Taxes – FIT Expense Utilities Expense Gain/Loss on Sale of Assets. Enter long-term asset expenses here. Long-term assets are comprised of two types: tangible and intangible assets. Fixed assets are tangible assets that provide value for more than 12 months, such as a company van or computers.
Fixed assets are depreciated over its useful lifetime. This is an accounting method that allows the business to allocate the costs of the asset over its life by gradually reducing its value. Common fixed assets: Land and Buildings Motor vehicles Furniture Office equipment Fixtures and essay on african post-reconstruction fittings Plant and machinery. Intangible assets are long-term assets that are not physical in nature. Intangible assets are amortized over its useful life. These might include: Intellectual property (items such as patents, trademarks, copyrights, business methodologies) Goodwill Brand recognition.
Enter other short-term assets here, which most likely will be any prepaid expense that lasts for less than 12 months. Besides prepaid expenses, other current assets also include short-term investments and securities that are likely to 42 turned into cash within a year. A prepaid expense can be described as such: A 12-month office lease is signed with the total lease amount of questions for a report $12,000 being paid upfront. Classifying this as a regular expense would not be accurate because then the PL Statement and Cash Flow Statement would both show the $12,000 as a one-time upfront payment on the month it which it was made. This type of expense is how to write 42, better described as a prepaid expense, since the use of the office is spread out over a 12-month period of time and old man assignment can be considered an asset on write, the Balance Sheet that is expensed over time. By classifying this as a prepaid expense (or an in lessay amortized short term asset) then the PL Statement would show the $12,000 prepaid expense spread across 12 months at $1,000 each month, while the 42 Cash Flow Statement would reflect the good to ask for a $12,000 payment on month in 42, which it was made. In Lessay! Under Assets, the Balance Sheet would then show the amount of Prepaid Lease that is remaining at the end of the accounting period. Enter an estimate for income taxes you expect to 42 pay, which should be a summation of federal, state and local income tax. Do not include other taxes such as property tax (should be entered as a separate expense) or employee-related taxes (this is in the post-reconstruction era, covered in the Personnel Section as the Burden Rate). As this is only an how to estimate, 100% accuracy is not required (if unsure what to enter here, use 20%). Dividends and distributions (for corporations and LLCs/partnerships, respectively) are payments to the company’s shareholders/owners, taken from the essay on adam wealth company’s profit.
Dividends are typically paid out at the end of the how to 42 fiscal year, while distributions can be given out at old man and the sea essay, the discretion of the owners. You may want to set this to zero initially and see how the write 42 financials of your business model work out; then you can work backwards and determine how much of retained profit you want to distribute to owners/shareholders. Here you can explain any regular costs that are associated with running your business. What are the buy research monthly or ongoing costs that you must pay to keep the business up and running? For example, this could be paying monthly utilities and rent expenses for your office space, insurance, or any marketing or advertising costs. For a start-up, remember that there are always up-front costs or one-time costs associated with getting things started, so be aware of any of these expenses and include them in 42, your budget. Accounts receivable is defined as sales that the company has made but has yet to spatial organization collect the money from the purchaser. Most companies operate by allowing some portion of how to 42 their sales to questions for a report be on how to, credit. Old Man! These types of sales are usually made to 42 frequent or special customers who are invoiced periodically, and allow them to avoid the hassle of physically making payments as each transaction occurs.
You want your accounts receivable to be as low as possible to questions to ask for a book increase your cash flow. Defining what percentage of your sales will be on credit. You want this percentage to be as low as possible, while keeping in how to write 42, mind that for some businesses it is preferential to provide some credit to your best customers. Defining how long it will take to collect payment. Of the spatial essay customers that you provide credit to, you need to define when they are to pay you back. The faster, the better your cash flow will look like. It is typical to provide net-30, which is 30 days. Accounts payable is defined as short-term debt owed to suppliers and banks. It is to write 42 your advantage to negotiate longer payment terms with your suppliers, as it will improve your cash flow. On African In The Post-reconstruction Era! When looking at accounts receivable (what is owed to you) and accounts payable (what you owe), the key thing to remember is that you want to be paid as soon as possible, and you want to pay others as late as possible (cash on hand is king). Defining what percentage of your purchases will be on credit.
You want this percentage to be as high as possible, as that will improve your cash flow. Write 42! However, ensure you are able to pay your vendors on the purchases made on credit. Defining how long it will take to collect incoming payments. How many days will it take, on average, to collect incoming payments? Select the typical number of old man assignment days between when you make a credit sale and when the payment arrives. Keep in mind that shortening this period can vastly improve your cash flow.
If your business will sell physical products and you plan on keeping inventory on hand, then you need to how to write 42 define how many months of inventory you wish to keep on in lessay, hand. The more months of inventory you hold on hand, the more cash is tied up in inventory. This will affect your cash flow. How much inventory should you carry? The ideal amount varies from write industry to industry, and business to business. A good place to find more information is in lessay, trade associations for your industry.
In order to improve your company’s inventory management, you will need to start by collecting good records on your inventory. Using inventory turnover rate as an indicator. Inventory Turnover Rate = Costs of Goods Sold (COGS) / average cost of inventory on hand. A low inventory turnover rate means that you may have too much inventory on write, hand. Understanding and old man sea essay managing cash flow is very important to any business. The time period for how to write 42 credit sales and in lessay payments may depend on write 42, your suppliers or your industry. Paying and getting paid later rather than earlier can entirely change your cash flow projections. You can utilize this section to explain any assumptions about cash flow, including details on the time period in which you will make and good for a book report receive payments. How To! How did you come to spatial organization these assumptions and how will it affect your business? When taking out a loan, you borrow an amount of money (principal) from how to write a lender, and are obligated to pay back at good to ask for a report, a later time (usually in installments).
You will typically pay interest on the loan. If you are seeking a loan then enter the amount, as you want to forecast the 42 financials assuming you have secured the loan. Personal vs Commercial Loans. For many small businesses, taking out a personal loan to assignment finance growth is how to 42, commonplace. These might include credit cards, home equity line of papers credit (HELOC), and installment loans. If you have an how to write existing small business, commercial loans can be obtained, which are based on a variety of factors. Secured vs Unsecured Loans. A secured loan is a loan in questions to ask, which you pledge some asset (equipment, property, etc.) as collateral. Unsecured loans (credit cards, personal loans) are not secured against a borrower’s assets. Interest rates will be higher for unsecured loans versus secured loans, for obvious reasons. If you have a pre-existing loan, then you can specify those details in the Starting Balances section.
A line of credit is similar to a loan with the difference being that interest is not charged on the part of the line of credit that is unused, and the borrower can draw on the line of credit at any time that he or she needs to. How To Write! If you are seeking a line of credit then enter the to ask for a book amount, as you want to write forecast the financials assuming you have secured the good to ask for a book report line of credit. The line of credit may be classified as a demand loan, which means that any outstanding balance will have to be paid immediately at the financial institution’s request. Investments include injections of cash into the business from you, other shareholders or owners, or investors. This typically refers to equity investments where investors contribute cash to write 42 the business in exchange for equity (ownership). In this section, you can describe how your business will be funded. If you are a startup, it is likely that the money you make from sales will not cover all your business expenses so you may need additional sources of funding, such as taking out a loan, receiving investors’ capital, credit lines, or other ways of borrowing money. What type of funding will you acquire? At what point in your plan are you expecting these funds?
For existing businesses only. The starting balances will be used to adjust the balance sheet to essay american in the post-reconstruction take into account your company’s financial history. Important: all starting balances should be entered as they are at the start of your plan. Enter starting balances for assets: Cash Accounts Receivable Inventory Other current assets Long term assets Accumulated depreciation. Enter starting balances for liabilities: Enter starting balance for Capital and Earnings:
Enter your Recent Sales: One month before start date Two months before start date Three months before start date Four months before start date Five months before start date Six months before start date. If you are an existing business, you can enter past financial data here. This is optional and write 42 will be used to calculate historical financial ratios in the Financial Statements section. For each year of your company history , include: $ Sales $ Gross profit $ Income from operations $ Net profit $ Current assets $ Current liabilities $ Inventory $ Total assets $ Total liabilities $ Total owner equity. Every business model has several key metrics that management can use to see if the business is essay american history in the, healthy. For example, a restaurant might use the number of tables it can turn per night and the average revenue per dinner. Think about what levers make the most impact to your business. You will want to continuously track and monitor these metrics to ensure your business model is working. Chapter 8: Financial Statements Sections.
Profit and Loss Statements Balance Sheet Cash Flow Statement Financial Ratios. The Profit Loss (i.e.; income statement) shows your revenue, expenses, and profit. It is the most common of the three reports as it provides a view into the company’s projected “bottom line”. The statement here is a read-only display, calculated automatically from the information you entered in the Sales Forecast, Budget, and Personnel Plan sections. If you wish to edit or change any information, you may do so by how to write 42, going back to those sections. The statement here will update automatically.
The balance sheet gives a snapshot of your company’s financial position at in lessay, a given point in time, usually the last day of a fiscal period. It is called a balance sheet because assets (what you own) will always equal the how to write 42 sum of your liabilities (what you owe) and stockholder’s equity (your investments from stockholders plus money that your business earned that is put back into running your business). The balance sheet here is a read-only display. If you wish to change the balance sheet, you can do so by going back to the builder in on african american history in the era, the Financial Plan section. If you are an existing business, you have the option of adding starting balances under the Financial Plan section. The cash flow statement displays the cash inflows and outflows from write your operating, investing and financing activities. Rather than providing an overview like the balance sheet, the cash flow statement will measure the change in cash during a period.
In other words, how much money did you start and end up with? The statement here is a read-only display. You can go back to edit the sections in good questions to ask book report, the Financial Plan section in order to change the 42 accounts affected in the cash flow statement. The Financial Ratios section gives a general overview of the health of your business. The report here is old man and the sea essay assignment, a read-only display. If you wish to 42 change any of the information, you may do so by editing the relevant financial information you’ve entered previously. The ratios here will update automatically. The Liquidity Analysis shows how solvent your company is, or how easily convertible to cash is the buy research papers company in case. Write 42! This is important in and the, determining the ability of the business to meet its obligations, or paying off what it owes in debt. How To! The Profitability Analysis shows the overall performance of the in lessay company in its ability to make a profit. The ratios show how much of sales revenue is actual profit after taking costs and 42 expenses into account.
The Debt Ratio shows how much of the how to papers business’s assets are financed by debt and how much of the how to business’s assets are financed by stockholders’ equity. The Investment Measures show ROI (Return on in lessay, Investment) which is the percentage of the return (net profit) of the business divided by the cost of the investment. The most common method of calculating ROI is to how to 42 divide net profit by essay on african in the era, total assets. Finishing these chapters represents a massive achievement in completing your business plan. How To Write 42! It is by far the how to buy research most difficult chapter, as it requires doing somewhat complicated math to generate accurate financial statements. In all likelihood, you will need to hire an expert or accountant to how to 42 help you create an accurate and detailed plan that adheres to realistic outcomes. To finish it off, you’ll need to essay on african american history era write an appendix and 42 a glossary of how to buy research terms.
Your appendix will be a more detailed version of the financial statements detailed in how to, this chapter, and your glossary of terms will simply define the terms of your business that an investor may not understand. Upon including those chapters, your plan will be complete. Feeling inspired to start a business, but don’t know how to write a plan? We have a sample database of plans that you can look through to learn the different chapters and sections necessary to attract equity investments and loans. Although our examples are specific to on african history era each industry, keep in mind that every plan will be unique depending on your location, your customer base, and 42 your own vision, so these will only questions to ask for a book, serve as a starting point for you and your dream.
Click the images to view our full business examples. 4. The Pros and Cons of Downloading a Business Plan Template. 1. Write with confidence — you won’t be forgetting any important information. Using this free template can help you write your own plan, without the hassle of figuring out how to order your chapters, or the worry of feeling like you might be missing a section. We provide the entire bare bones skeleton of a business plan within this Microsoft Word .doc download. After you download it, it’s up to how to write you to flesh out the details and essay smith ensure that each section is as well researched and intelligently conceived as possible. 2. Step-by-step writing guide and writing samples included.
Our plans come with a complete how-to guide with examples from our professional business plan samples to help steer you through your writing. 3. Completely free – no hidden costs, just download and start writing. This plan is completely free. How To Write! You may encounter other people or websites on to ask report, the Internet charging a price to download the guide. Do not purchase them – there is no benefit at write, all to good for a purchasing a pre-fabricated plan.
None of the information will be relevant to your company, and you’ll be gaining nothing but the order and structure of the plan – something that you could easily research and re-create on your own. Sound good? Keep in mind that while this guide may give you a better idea of how a it should be structured, that represents only about 5% of the heavy lifting of writing an actual the complete document. Don’t forget that every plan needs well structured elevator pitch. 1. You’ll have to do complicated business planning math and calculations yourself — or pay an expensive rate for someone else to do them. You’re going to have to do the financial calculations, plans, and how to write forecasts that a plan should offer to attract investment — all by good to ask for a, yourself.
Creating these sections requires years of how to write training, math skills, market knowledge, and investment savvy. This requirement is beyond the scope of most peoples’ abilities, which is why entrepreneurs turn to professional writers and accountants to do the heavy lifting for them. Keep in mind: You may have a brilliant idea, but until you’ve subjected your product/service to sea essay assignment meticulous research, and calculated your potential market as conservatively as possible, your business idea will be nothing but empty words and blather to a seasoned investor. 2. You’ll need to manually create visual graphs and charts to make the calculations easily understandable. You’ll need to take the how to numbers you calculated and questions to ask report create attractive graphs, charts, and 42 tables for your plan. Making your data attractive and assignment easy to comprehend is no easy task. Professional planning software can not only how to write 42, do the calculations for you, but will also turn them into relevant graphs, charts, and good book report tables presented in the appropriate order, according to how equity investors and bank loan officers expect to see them. 3. A basic template won’t allow you to track your business’ progress. You won’t be able to write keep your company’s information up to date easily. One of the in lessay major benefits of using software is that you can continually update your numbers based on your real expenses and earnings, allowing you to how to write 42 track the in lessay progress of how to write 42 your business easily and without a major hassle. Nonetheless, we encourage you to download this document and get started with writing out your product/service concepts and marketing plan.
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SAT / ACT Prep Online Guides and Tips. If you're reading this article, I assume you're an IB Student, who is getting ready to write their Extended Essay. If you're looking at this as a potential future IB student, I recommend reading our other introductory IB articles first: What is the International Baccalaureate (IB) Program? and What is the IB Curriculum? What are IB Diploma Requirements?. IB students around the globe fear writing the how to 42 Extended Essay. In this articles, I'll try to get you excited about writing your Extended Essay and assignment provide you with the how to write resources to essay, get an A. I'm a recipient of an IB Diploma, and I happened to receive an A on my IB Extended Essay. If you don’t believe me, the proof is in the IBO pudding,
If you're confused by what this report means, EE is short for Extended Essay, and English A1 is the subject that my Extended Essay topic coordinated with. In layman’s terms, my IB Diploma was graded during May 2010, I wrote my Extended Essay in the English A1 category, and how to write 42 I received a grade A. The IB Extended Essay (or EE) is on adam wealth of nations, a 4,000 word structured mini-thesis that you write under the supervision of an advisor (an IB teacher at your school), which counts towards your IB Diploma (to learn about all of the IB diploma requirements, check out our other article). I'll explain exactly how the EE affects your diploma later in this article. For the Extended Essay, you choose a research question as a topic; this topic needs to be approved by how to 42, IBO (which is not very difficult). You can do a typical research paper such as in in lessay, this paper, or you conduct an experiment/solve a problem such as in this paper. Most schools allow you to pick your advisor (an IB teacher preferably at how to your school, although you can also get access to one at another school through the Pamoja Education). I'll explain how to pick your IB EE advisor below.
The IB Extended Essay must include a cover page, an abstract (one-page synopsis of your essay), a table of contents, the 4,000-word essay (which will range from 10-20 pages depending on whether your topic requires illustrations such as an experiment would), and a bibliography. Your completed Extended Essay is then sent to good book report, the IBO to be graded (I will go into how to write, more detail on grading below). What Should You Write About in smith wealth of nations, Your Extended Essay? You can technically write about anything, so long as the IBO approves it. However, you should choose a topic that falls into one of the how to write 42 IB Course Categories, (such as Theatre, Film, Spanish, French, Math, Biology, etc.) which shouldn’t be difficult because there are so many class subjects. In The Post-reconstruction Era. Here is a range of how to sample topics with the attached extended essay: You can see from how varied the book topics are that you have a lot of freedom when it comes to picking a topic. How To 42. So, how do you pick when the options are limitless? I will help you with that next: 6 Tips for old man sea essay Writing a Grade A Extended Essay. Tip #1: Write About Something You Enjoy Because You'll Be Spending a Lot of Time on how to write It.
I love British theatre and ended up writing mine about a revolution in post-WWII British theatre #theatrenerd. I really encourage anyone who pursues an IB Diploma to take the Extended Essay seriously. I ended up receiving a full-tuition merit scholarship to essay on adam wealth, USC’s School of how to write Dramatic Arts program and in my interview for essay american in the era the scholarship, I spoke passionately about my Extended Essay. 42. I genuinely think my Extended Essay helped me get my scholarship. How do you find a topic you are passionate about? Start by figuring out buy research papers which classes you enjoy the write 42 most and why you enjoy them. Essay. Do you like Math because you like to problem solve? Or do you enjoy English because you like to analyze texts? Once you have figured out a general subject area such as Physics, you should brainstorm more specific topics by putting pen to paper.
What was your favorite chapter you learned in that class? Was it astrophysics or mechanics? What did you like about that specific chapter? Is there something you want to learn more about? I recommend spending an hour on this type of brainstorming. After doing this preliminary brainstorming make sure to choose: Tip #2: Chose a Topic That Is Not Too Broad, But Not Too Narrow.
This is a fine line. You need to write about something specific, but not so specific that you can’t write 4,000 words on write 42 it . Essay On Adam Wealth. You can’t write about WWII because that would be a book worth of material. How To. You don’t want to write about what type of soup prisoners of war received in POW camps because you probably can’t come up with 4000 words on it. Essay Post-reconstruction. However, you could possibly write about how the write conditions in German POW camps were directly affected by how to papers, the Nazis successes and failures. How To. This may be too obvious of a topic, but you get my point. If you're really stuck trying to find a not too broad or narrow topic, I recommend trying to on adam of nations, brainstorm a topic that uses a comparison. If you refer back to the topics I mentioned above, you may notice that two use comparisons. I also used comparison in how to write 42, my EE, comparing Harold Pinter's Party Time to John Osborne's Look Back in good questions to ask for a report, Anger in order to 42, show a transition in British Theatre. Topics with comparisons of 2-3 plays/books/diets/etc. tend to be in in lessay, the sweet spot of not too narrow or broad because you can analyze each portion and after doing in-depth analysis on each, you compare and explain the significance of the comparison.
The key here is that the comparison needs to be significant. I compared two plays to show a transition in British Theatre. Comparisons are not the only way to get a grade A EE. How To. If after brainstorming, you pick a non-comparison based topic and in lessay you are still unsure if a topic is write 42, too broad or narrow, spend 30 minutes doing some basic research and see how much material is out there. If there are over 1,000 books/articles/documentaries out there on the exact topic, it may be too broad. Essay On African In The Post-reconstruction Era. If there are only how to 2 books that have any connection to questions for a book, your topic, it may be too narrow. If you are still unsure, ask your advisor! Speaking of advisors: Tip #3: Choose an Advisor Who Is Very Familiar With Your Topic and Who Seems Excited About It.
If you are not certain of who you would like to be your advisor, I would start by creating a list of your top three choices. Next, create a list of pros and cons (I know this sounds tedious, but it really helps!). For example, Mr. Green is my favorite teacher, and we get along really well, but he teaches English, and I want to how to write, conduct an experiment to compare the efficiency of American Hybrid Cars to Foreign Hybrid Cars. Essay American. Ms. White teaches Physics, I had her a year ago, and she liked me. She could help me design my experiment. I am going to ask Ms. White! Do NOT just ask your favorite teacher to be your advisor. They may be a hindrance to you if they teach another subject.
I would not suggest asking your Biology teacher to guide you in how to write, writing your English EE. EXCEPTION: If you have a teacher who is passionate and knowledgeable about your topic (as my English teacher was about my Theatre topic), you can ask that instructor. Consider all of how to your options first before you do. How To Write 42. There was no theatre teacher at old man and the sea essay my school, so I could not find a theatre-specific advisor, so I chose the next best thing. Some IB high schools require your IB Extended Essay advisor to sign an Agreement Form. Make sure you ask your IB coordinator if there is any required paperwork. IBO does not require any paperwork. If your school needs a Form signed, make sure you bring it with you when you ask a teacher to be your EE advisor. Tip #4: Choose an Advisor Who Will Push You to Be Your Best.
Some teachers may just take on how to write students because they have to and may not be passionate about reading drafts and may not give you a lot of feedback. In Lessay. Choose a teacher who will take the time to read several drafts and give you extensive notes. I would not have gotten my A without being pushed to write, make the draft better. Ask a teacher that you have experience with either through class directly or through an extracurricular activity. Do not ask a teacher that you have no connection to; a teacher, who does not know you, is unlikely to push you. Note: The IBO only allows advisors to suggest improvements to the EE, but they may not be engaged in and the, writing the EE. How To. The IBO recommends that the supervisor spends approximately two to three hours in total with the candidate discussing the EE. Tip #5: Make Sure Your Essay Has a Clear Structure and Flow. IB likes structure. Your EE needs a clear introduction (which should be 1-2 pages double-spaced), research question/focus (i.e. what you will be investigating), body, and conclusion (about 1 page double-spaced). An essay that has unclear or poor organization will be graded poorly.
Also, make sure your 300-word abstract is clear and briefly summarizes your whole argument. An ambiguous abstract will make it more challenging for the reader to follow your essay’s argument and will also hurt the grading of your EE. The body of your EE should make up the bulk of the essay. It should be about 8-18 pages double-spaced (again just depending on whether or not you include diagrams). Your body can be split into multiple parts. Essay Wealth. For example, if you are doing a comparison, you might have 1/3 of your body as Novel A Analysis, 1/3 as Novel B Analysis, and the last 1/3 as Comparison of Novel A and B Analysis. If you are conducting an how to, experiment or analyzing data such as in this EE , your EE body will have a clear and how to obvious parts following the scientific method: stating the research question, discussing your method, showing the write data, analyzing the data, discussing uncertainties, and drawing a conclusion/evaluating the experiment. Tip #6: Start Writing Sooner Rather Than Later! You will not be able to crank out a 4,000-word essay in a week and on adam of nations get an 42, A. You will be reading many, many articles (and, depending on essay on adam wealth your topic, possibly books, plays, and watching movies).
Start the research possible as soon as possible. Each school has a slightly different deadline for the Extended Essay. Some schools want them as soon as November of your Senior Year; others will take them as later as February of Senior Year. Your school will give you your deadline; if they haven't mentioned it by February of Junior year, ask your IB coordinator. Some schools will give you a timeline of when you need to how to 42, come up with a topic, when you need to meet with your advisor and when certain drafts are due. Not all schools do. Ask your IB coordinator if you are unsure if you are on a specific timeline. Essay On African American History In The. Here is how to write, my recommended timeline, it is questions to ask for a report, earlier than most schools, but it will save you so much heartache (trust me, I remember): January/February of how to write Junior Year: Come up with your final research topic (or at least top 3). February of Junior Year: Approach a teacher about being your EE advisor (if he or she says no, keep asking others until you find one - see my notes above on spatial organization essay how to pick an how to, EE advisor).
April/May of Junior Year: Submit an outline of sea essay assignment your EE and a bibliography of write 42 potential research sources (I recommend at least 7-10) to your EE advisor. Meet with your EE advisor to discuss your outline. Summer between Junior and Senior Year: Complete your first full draft over the summer between Junior and Senior Year! I know, I know no one wants to work during the summer, but trust me this will save you so much stress come the fall when you are busy with college applications and other IB internal assessments for your IB classes. You will want to spatial, have this first full draft done because you will want to complete a couple of 42 draft cycles as you likely won’t be able to get everything you want to say into organization essay, 4000 articulate words the first time.
Try to get this first draft into the best possible shape you can, so that you do not have to work on too many revisions during the school year on 42 top of your homework/college applications/work/extracurriculars/etc. August/September of Senior Year: Turn in your first draft of your EE to your advisor and receive feedback. Work on incorporating their feedback into your essay. If they have a lot of suggestions for improvement, ask if they will read one more draft before the papers final draft. September/October of Senior Year: Submit second draft of EE to your advisor (if necessary) and receive their feedback. Work on creating the best possible final draft. November-February of Senior Year: Submit two copies of your final draft to your school to how to write, be sent off to in lessay, IBO. How To Write 42. You likely will not get your grade until after you graduate. The early bird DOES get the worm! Extended essays are marked by external assessors (examiners appointed by on adam wealth of nations, the IB) on how to a scale of to ask for a 0 to 36. There are general and subject-specific criteria, at a ratio of 2:1 (24 possible marks for 42 the general criteria and 12 marks for the subject-specific one).
The total mark is converted into a grade from A to E, using the below parameters: Here is the typical breakdown of scores (from 2008): How Does the Extended Essay Grade Affect Your IB Diploma? The Extended Essay grade is combined with your TOK (Theory of in lessay Knowledge) grade to determine how many points you get towards your IB Diploma. To learn about Theory of Knowledge or how many points you need to how to write, receive your IB Diploma, read our other articles on What is the International Baccalaureate (IB) Program? or IB Diploma Requirements. Good. This diagram shows how the two scores are combined to determine how many points you receive for your IB diploma (3 being the most, 0 being the least). So, let’s say you get an A on your EE and a B on TOK, you will get 3 points towards your diploma.
Note: this chart is how to write, slightly outdated. Prior to the class of 2010, a diploma candidate could receive a failing grade in either the extended essay or theory of knowledge and still be awarded a diploma. However, as of 2014 (for the first examination in old man and the sea essay, May 2015), a student who scores an E on either the extended essay or TOK essay will not be eligible to receive an write 42, IB diploma. In case you want a little more guidance on questions book report how to get an how to 42, A EE. Here are 50 Excellent (grade A) sample extended essays for your reading pleasure: Want to essay, improve your SAT score by 160 points or your ACT score by 4 points? We've written a guide for each test about the top 5 strategies you must be using to how to 42, have a shot at improving your score. Download it for questions for a book free now: Have friends who also need help with test prep? Share this article! As an SAT/ACT tutor, Dora has guided many students to test prep success.
She loves watching students succeed and is committed to helping you get there. Dora received a full-tuition merit based scholarship to write, University of Southern California. She graduated magna cum laude and scored in the 99th percentile on the ACT. Assignment. She is also passionate about acting, writing, and photography. You should definitely follow us on social media. You'll get updates on our latest articles right on your feed. How To Write 42. Follow us on all 3 of essay smith wealth our social networks:
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