So, since we discuss quite a few things about businesses, I've decided, why not let people know what type of businesses there are. What exactly is a sole proprietorship? Currently, it's one of the easiest businesses to start up. You're pretty much your own boss and you make the decisions that you feel would best benefit your company. There are many advantages and disadvantages to owning a sole proprietorship type of business, however, we will discuss these in a moment.

Sole proprietorship's make up 72% of all businesses today, according to the U.S. Internal Revenue Service. 72% of all businesses is a huge number! Even though their contributions in total receipts are not quite as much as their corporate opponents, they still bring in close to 950 billion dollars a year, which is a hefty chunk of cash!

This is the type of business that most average day people start up. It's very easy to start and end these types of businesses which gives a huge advantage to owning one.

My next post will define the advantages of owning a sole proprietorship and possibly the disadvantages as well. Don't worry, I will post both in due time. However, I feel I need to thoroughly go over each point so that you can get the feel if this is the type of business you would like to start.

Type of Business: Sole Proprietorships (Pt. 1)

Just wanted to wish all of my readers a very merry Christmas! I've been quite sick over the past week or so and that has been preventing me from doing much of anything, including keeping up with my blog. I'm finally feeling a bit better and will be updating the blog normally again. I'm very sorry for the inconsistency of my posts throughout the last week and again want to wish everyone a happy holiday!

Merry Christmas!

A lot of people these days that have their own businesses have probably thought at one point in time if it would be good to make their business global. Would it be?

If you're considering on making your business internationally known I'd advise a few steps in the beginning process.

1. Is there are market for your service/product like their is in your country? Do you feel it would be successful in another country? These are questions you need to start off asking yourself. You really need to do some economic research on the country and at least view how similar items would sell over there. Research is one of the biggest components of becoming successful.

2. You need to make sure you do some research as well on the cultures that are in the country you want to sell in. Most cultures are quite different from the U.S. Slogans and everything need to be evaluated to make sure they aren't translated to something else in that country.

3. You're going to need some capital as well. Going international with your business, most the time, is a great strategy in maximizing profit as long you follow the procedures correctly. However, in order to make money off it, you're going to need some money to invest. It's not the cheapest to try and make your business global. (Although the internet has been making it a lot easier)

Global Markets

Well as all of the readers so far know, I've recently came out with a 5-part instruction of the business plan. It was broken up into 5 parts and was also amongst other posts I've made for marketing and traffic.

So I decided to make a post that will link each step of the business plan that I've provided in ORDER!

Hopefully this will help some of you find all the parts easier.
Here they are in order:
Starting a business plan (Part 1)

Starting a business plan (Part 2)

Starting a business plan (Part 3)

Starting a business plan (Part 4)

Starting a business plan (Part 5)

I hope you've enjoyed this 5-post segment of how to begin writing a business plan.

The Business Plan Series

What can there be left to a business plan you might be wondering. Well this will be the end of the road for my short 5-part post of the business plan.

However, let us do a small recap:
By now, you should have an idea of what your business is going to serve/promote, the name of your business, finding the key amount of roles and positions to offer in your firm/business, and making a sound financial plan for your business to follow.

Now there's a little more left over. This is the time when you're going to have to find a location for your business and build a manufacturing plan depending on the type of business you're opening.

Ever heard the saying, "Location!, Location!, Location!"? Well it's the truth. The location of your business can dramatically change the way your business works and functions. So how can you find out where to locate your business?

I would advise doing a demographic analysis of consumers in the area of where you feel your business should be placed. Once you have done this, you can better decide if that spot will actually make or break your business. You can follow traffic trends and also even take vehicle and pedestrian accounts around the area. It's a lot of work, but if you get the perfect location for your business, it will pay off huge!

Now what about creating a manufacturing plan for your business? Chances are, you'll only have to go this route if you're business has to do with retailing. Of course, as shown in the picture to the right, there are a lot of levels in the manufacturing process. When creating a manufacturing plan you need to keep in mind of a few different things.

1. You'll most likely need a plant. You'll need to decide if you want it close to your business, further away, and even the size of it.

2. You'll need to obtain/purchase the machinery required for the specific business you own. This can be very costly.

3. Also you'll need to be keeping track of a few other things as well. These include quality control of your products, the production capacity, and of course inventory control methods.

These are all things you need to consider if you're going the route of being the boss of a manufacturing business.

Starting a Business: The Business Plan (Pt.5)

Now we're on to the next part of the financing aspect. Where to get the capital to fund your business in the start-up. There's several sources of capital that an entrepreneur has.

These include:

1. Personal Savings
2. Relatives
3. Former Employees
4. Banks
5. Finance Companies
6. Venture Capitalists
7. Government Agencies

As you can see, there are quite a few sources you can go after. Above 85% of people who start up businesses received their beginning money to start from their family and friends.
Another way you could receive some capital is by venture capitalists. These are people that will invest money to help start up a business for part ownership. Some can even ask for a big chunk of your profits, so be careful to evaluate the situation fully.
One government agency that helps small businesses start up is the Small Business Administration (SBA). These are small loans that the government give out to help new businesses. Of course you can always get loans from the banks as well.

But better yet! Have you ever thought about trying to get some start-up money from one of your suppliers? It could be in their best interest as well to help you start-up and pay back.

Starting a Business: The Business Plan (Pt.4)

That's correct. We are going to be opening our own free forum board so people from the blog can interact with each other on marketing, sales, affiliate programs, and much more in the business sector. If anyone would like to join my forums, feel free to do so below.This forums is brand new, so don't be discouraged since it isn't even closed to being finished yet. There is still a lot of work needed to be done with it, and currently I'm the only member on it. I'd love to help people out with my advise and also receive advise in return. Why not exchange our thoughts a bit on the forums then?

I will be adding a "Room For Improvement" board on the forums where users can also post if they feel that a certain area is not being covered that needs to be. The whole point of this system is to network with other people who are doing the same things as ourselves.

You know what they say anyways, "You are who you surround yourself with". So let's surround ourselves with people in the same area of expertise and professionalism.

Join me today
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