HOW TO WRITE A BANKABLE BUSINESS PLAN

IFE ADEDAPO examines the key features of a business plan that will attract investors

The ability to generate business ideas is not a problem for budding entrepreneurs, but their capability to attract external funds is a major obstacle.

 

Experts advise that every business owner should have a business plan to show a comprehensive research has been conducted on the business concept and indicate commitment to seeing the project to a successful completion.

What are the objectives of having a business plan?

The CEO, Angela Itambo Company, Mrs. Angela Ihunweze, says a business plan is a written document that outlines the goals and objectives of a particular business activity.

She says it can be used for the purpose of starting a new business, expanding or being able to show the competence of the company to handle a particular activity for a client.

She observes that most entrepreneurs in the country use business plans to raise funds or attract partners, however, she says that it is a map that provides alternative routes to an individual or business entity to get to its destination.

Ihunweze adds that it is a working document that should be owned by all businesses including those that do not require external funding.

According her, the plan for every business should be updated on a weekly basis to reflect the changing trends in the business environment such as the inflation rate, the high cost of raw materials, changes in tariffs, taxes among others.

For instance, she says the current state of the economy and the way it has affected some of the business parameters should be reflected whenever the plan is reviewed.

“It can either be typed or written with a pen depending on its use.

A standard business plan should be written in a language and manner which makes it interesting to read devoid of technical jargon that make it unappealing to read,” she adds.

The physical qualities of a business plan

IFLUX enters Nigerian market with LED products

To support the weak power supply in Nigeria, iFLUX, LED lighting expert from Hong Kong has opened its flagship store at Alaba international market in Lagos with a promise of offering quality LED lightning products.

 

The store opening showcased iFLUX range of high end LED light products stylishly crafted by some of the world’s best engineers in modern light designs and attendees to the event expressed their satisfaction with the products in-store.

iFLUX is the first lighting brand in Africa to focus on premium LED lighting products with two years warranty.

Marketing: Ruggedman Unveiled Water Drink......

Singer, Ruggedman, is gradually growing from an entertainer he is to becoming a vast entrepreneur with smart plans of owing an empire some day.

 

 

Launching his clothing line some months back and releasing a new single on Nigeria’s Independence day celebration, the singer is not slowing down in his quest to ensure that his brand cuts across everyone.

Mr Topp; BHS planned 'new status' for the brand

The turnaround plan for the ailing store is "very clear", and includes rebranding the business and introducing food, he said.

In 2013-14, it made a cash loss of £21m, compared with a loss of £19.3m the previous year.

One analyst said BHS had room to make changes, but it needed a more exciting clothing range.

'Reinvigoration'

Do Not Price Your Product For Customers Who Cannot Afford It

A funny thing happens on the way to building a successful business. At a certain point you actually need customers who can pay you for the product or service that you offer.

It seems so obvious — you need someone to pay for your business efforts if you plan to continue to happily work there. And very likely you will need a lot of paying customers to build a growing business.

This fact is sometimes forgotten in tech hubs like Silicon Valley, where all flavors of investors are willing to plow billions into promising companies. They do so because it’s a numbers game to them. They know that for every ten losers, one of their investments will take off. And if you believe conventional wisdom, you need to spend money to make money.

Why No CEO Should Go It Alone

 In this series, professionals share their hiring secrets. Read the stories here, then write your own (use #HowIHire somewhere in the body of your post).

If there is one thing that I ought to be really great at, it’s hiring. I’ve spent the last 20 years working in leadership roles at the same company — one that is more dependent than most on top talent. Given my tenure, I’ve got an unusually deep level of insight into my company’s services and culture; I’ve had lots of practice at bringing people into the business; and my client base includes about 3,000 heads of HR at the world’s leading companies, so I benefit hugely from proximity to the best in the business.

Now add to that the fact that a good chunk of our revenue comes from helping the world’s largest companies acquire and develop talent of their own, and one would argue I ought to be the Serena Williams of making great hiring decisions — long track record of achievement, good in all situations, and seemingly getting better every day.

I ought to be, but I’m not. Left to my own devices, I make a litany of mistakes. Just ask our recruiters, who usually talk me out of my worst ideas, but not all. (As an example, I once hired a sales executive whose particular skill was leveraging great marketing lead flow to close business. I neglected to inform her that, at the time, we did not actually have lead flow, or — for that matter — a marketing department.)

Intend 47 Million Investment in Euro, Sub-Saharan Africa by DHL

Frank Appel, Chief Executive Officer of Deutsche Post DHL Group), visited South Africa and Nigeria last week.

 

The visit demonstrated the overall importance of emerging markets in the Group’s Strategy 2020, and in specific the encouraging development of Sub-Saharan Africa.

During his stay in South Africa and Nigeria, Frank Appel met with employees and customers, and visited several logistics facilities.

IFTA Webinar: The Four Faces of Risk, Presented by Dr. Howar

Join IFTA's next webinar: The Four Faces of Risk: Defining and Managing Risk in Trading System Development and Trading Managment  Date/Time: Wednesday. 15 July, 2015; 1:00 PM - 2:00 PM EST Presenter: Dr. Howard Bandy  REGISTER FOR WEBINAR!

New Standard Chartered boss Bill Winters says bank must bolster finances

Bill Winters says bank has made mistakes in the past and will 'review all aspects of capital strength'

Standard Chartered's new chief executive has said the bank must bolster its finances after years of disappointing performance in which the company "made mistakes".

Bill Winters, on his first day in charge of the bank, said the bank would be "reviewing all aspects of our capital strength" in the coming months. 

Blacks fades to black as it plans to shutter all 59 stores in Canada by August

Blacks, a storied company that became synonymous with cameras, pictures and family albums, will shutter its 59 stores across the country by Aug. 8, its parent company Telus announced Tuesday.

The move will see about 485 employees lose their jobs, most of which are in Ontario.