After college, I was very driven financially. I wanted all the things that I thought would make me look successful in life. However, I was not concerned with the consequences, but they have a way of always presenting themselves at the most inopportune time. I financed my condominium fine, but after that is when things really became scary for me financially. In my youth and exuberance, I did not measure the consequences of the my loose financial habits. We partied a lot and had a good time, but we did not give much thought to how much money I was spending at all times.
I simply did not think that it was necessary with all the money that we were making. I thought that it would last forever, and I still make a pretty good living. However, my expenses started to creep up as I did not pay attention to the things that I was purchasing. At this point, I started the financial juggling that would put me in a position to start paying attention to my financial habits. It was a little too late by now, and I had to adjust something in my life to make ends meet.
Most things including my credit card s could be renegotiated. I even had an opportunity to refinance my home loan in order to obtain a better rate, but when I tried to find a way to get some relief for my car loan there was no relief available. I tried with my credit union to no avail. I found out that they had no method for refinancing an auto loan. Pretty astounded, I tried the bank that initially financed the auto loan and still no relief. In fact, they also said that they almost never refinance auto loans.
The only option I had was to turn to the Internet, but there were some scary options there. Many of the places that would refinance the loan had bad reviews. At this point, I grew tired of being taken advantage of, so I contacted a friend that had received an auto refinance loan from a company called Ignition Financial. After that, everything was a breeze. I simply checked their website at http://www.ignitionfinancial.org/auto-loans, and it contained all the information necessary to move this thing along at break-neck speed. I was completely satisfied with them, and I wholeheartedly recommend Ignition Financial.
Sanjay Shah the founder of Solo Capital and many finance related companies across the globe is a pioneer in the investment and management industry. This investment guru is also a well-educated businessman who has helped many individuals and corporations devise their business plans. His advice on how to make a business plan more effective and up-to-date for any situation is given below, taken from a number of references and his recent interviews.
So, what are the factors that will make a business plan more apt for a business? First, the plan is a blueprint detailing the business concept. To be effective, it needs to specify how it will succeed, what should be done in order to succeed and the many reasons it will be successful. An effective plan contains the information evaluating the merits of the business. It should have the financing proposal needed to run the operation, identify the amount needed, explain how the financing will be used and suggest the payment schedule if needed as well.
It is crucial that the plan specify the factors in the internal and external environment that will determine the firm’s ability to generate sales and profit. The performance of the firm’s industry is also a strong influence. This means the plan provides analysis of the economic, social, legal and political factors that drive the industry and their impact on the overall performance of the firm. The information collected here should include product and service the industry constitutes of, customers and suppliers of these services, major competitors as well as past performance and future demands of the industry.
Industry analysis is followed by market analysis where the market for the firm’s products and services are studied and the basic factors that define its market are determined. This include the geographic boundaries of the market, specific market niche in which the firm is doing the business, the sales potential in the target market, factors that influence the activity of the firm in the market, the role of sales forecast and so on. Where is the market located? What are the key features influencing the firm’s performance and productivity? What sales volume should the market niche generate for the firm? What is the outlook for the market? How will the firm reach its target market? These are some of the questions that will be answered in the market analysis section of the business plan.