Business Plan Writing: Brief Introduction

   A business plan is a formal statement of business goals, and mechanism to achieve it, financial status, and financial requirements of an organization. Business owners prepare Business Plan to attract lenders and investors. It is wrong to assume that only commercial organizations prepare business plans. Non-profit organizations too prepare their business plans to expand their organization.  

Types of Business Plans: We can broadly classify Business Plans into two types namely Internal Business Plan and External Business Plan.

External business plans:  These are meant for external stakeholders such as financial stakeholders like investors, lenders and donors. Here, lenders may be individuals, banks or any other financial institutions. External business plans focus more on financial details. For service oriented organizations, external stakeholders include donors, government agencies, and international lending bodies such as World Bank, International Monetary Fund (IMF), UNO, and Development Banks.

Internal Business Plans: These business plans focus more on goals and mechanism to achieve goals rather than financial information. The goal may be development of new product or service or re-engineering existing product of system. 

Purpose:

·         To reveal status and direction of their operations.

·         To attract investors to invest in business.

·         To attract lenders to lend money to the organization.

·         To attract donors to donate money or provide financial assistance ( in case of non-profit organizations).

Business Plan Vs Project Plan: Project Plan is different from business plan and it describes the goal of particular project. Project Plan is also called Project Framework. It may even focus on the importance of current project in the achievement of larger strategic goal of an organization.

Business Plan Vs Elevator Pitch: Business Plan is a wider document as explained above while ‘Elevator Pitch’ is a short summary of executive summary of business.

Content of Business Plan: Business plans prepared by profit organizations focus on financial information such as financial status and profits of last five years while their counterparts prepared by non-profit organizations focus on details such as services they are rendering, number of beneficiaries, and tax emption facility.

Prime Features:

·         Introduction of Organization

·         Business Concept

·         Goals and Objectives

·         History of Promoters

·         Vision

·         Mission

·         Industry Overview and Marketing Analysis

·         Marketing Opportunities

·         SWOT analysis

·         Customer Analysis

·         Competitive Analysis (Direct Competitors and Indirect Competitors)

·         Competitive Advantage

·         Target Customers and Customer Needs

·         Business Strategy

·         Marketing Strategy & Marketing plan

·         Team and Management Structure

·         Annual Financial Reports

·         Assets and Liabilities of the organization

·         Revenue Model

·         Operating Cost

·         Operation Plan

·         Key Operational Process

·         Milestones

·         Management Team

·         Board Plan

·         Financial Plan

·         Funding Requirement

·         Use of Funds

·         Sustainability plan

·         Growth opportunity

·         Exit valuation/Exit Strategy

·         Contact Details

Limitations:

·         Estimations may go wrong. In most of the business plans, organizations underestimate and understate expenses and overestimate and overstate revenues.

·         A good business plan alone may not ensure success of a venture. Success is a result of various other factors. However, it enhances the chances of success.

·         While preparing external business plan, an organization should be highly careful about legal concerns and accuracy of financial liabilities which affect investor’s decision. Otherwise, he may face severe legal consequences.

·         Business Plan is not open to everybody. Hence, often, organizations expect their prospective investors to sign Non disclosure agreements (NDAs) with third parties before providing them with business plan. Organizations maintain higher degree of privacy and protection of trade secrets. Hence, usually, organizations show their business plan to a few selected prospective investors, lenders or donors in case of non-profit organization.

Is Business Plan open to everybody? In general, business plans are considered confidential document meant for a few potential investors/lenders/donors. However, some organizations make their business plan open to everybody with unlimited audience. They usually publish their business plan in their official web site so that it is available to everybody.

In some cases, organizations reveal a part of their business plan by hiding confidential portion of the document. If any external person shows interest in their business plan, they reveal hidden portion of business plan if the organization firmly believes that concerned person is a potential stake holder.  

Written By: S. Chandrashekara Reddy.

Contact: chandrashekarareddys@gmail.com 

Current and Future Trends of Content Generation Tools

Due to several limitations, it must be remembered that automation content generation is not a complete alternative to manual content generation and both must be made complimentary to each other in order to make the work more effective.

No content generation tool can replace the manual writing. In fact, it may not be possible to design such a tool that will completely replace manual writing because efficiency of a tool depends on the efficiency of algorithm based on which the tool is designed. However, the content generation tools that we use now are better than the tools that we used in the past and the tools that we will use in future will certainly be better than the tools that we use now. Of late, developers started focusing on developing context sensitive algorithms, which can prepare content according to the context. Developers started focusing on developing effective and context sensitive algorithms.  

Written By: S. Chandrashekara Reddy

Contact:  chandrashekarareddys@gmail.com

Guidelines for Users of Content Re-writing Tools

Following are the guidelines for the users of Content Generation Tools:

·  Paid tools are usually more effective and reliable than free tools. Hence, for any company, it is advisable to depend on free tools only when the company or individual cannot afford paid tools.

·  If your website or blog is a member of any advertisement network such as Google adsense, it is advisable not to use the auto content generated by content generation tools as Google and other search engines have strictly prohibited the usage of auto generation content.

·  Some of the free content generation tools ask you to register with them and to enter your username and password to allow you to make use of them.  Avoid such tools as they consume more time and kill your productivity.

·  A large number of content generation tools are mush-rooming the market and hence, select only effective tools after making adequate enquiry about their efficiency.     

·  While going for paid version, make all the possible enquiries about prices of different tools and go for reasonably priced version. Make an enquiry even about cost-effectiveness and ROI before buying priced tool. 

·  As no tool can be as effective as an experienced content, check the content manually at first, before submitting it for publication.

·  If you are employed by someone, do not submit auto generated content until your employer orders you to do so. Otherwise, you may land in troubles because of the poor quality of auto generated content.

·  Even when your employer asks you to auto-generate content, use only the tool(s) which are suggested by your employer.  

·  If you are the employer, do not allow and encourage your employees to use auto content generation tools until its usage becomes mandatory and unavoidable due to strategic and situational issues such as time constraint or non-availability of sufficient number of content writers.

·  Content writers are advised to submit auto-generated content only after manual proof-reading and editing as major portion of such content is featured by poor readability and comprehension, and improper alignment.

Limitations of Content Generation Tools

Following are the limitations of Content Generation Tools:

·      Small scale companies cannot afford paid tools and are bound to depend on free tools. Though several free tools are available online, they are not as effective as paid tools and are not reliable. If you want to go for high-quality content, you are bound to go for paid versions.

·      At a time, a content generation tool may generate content ranging from 100 to 150 words. It may not be possible to generate large data at a time.
A tool is a tool after all and the efficiency of a tool or algorithm depends on the efficiency of an efficient content writer. No tool can replace manual work.

·    No tool can replace an experienced and efficient content writer. As per readability is concerned, there is no substitute for a person’s common sense and wisdom.

·  No content generation tool can replace the manual writing till today. In fact, it will not be possible to produce such a tool that will completely replace manual writing because a programming language or tool is developed based on a particular algorithm.

·   Employers usually do not encourage and allow their employees to use auto content generation tools until its usage becomes mandatory and unavoidable due to situational and strategic issues, because of bad quality of content created auto content generation tools.

·    Auto generated content is used usually by Search Engine Optimizers who require content in very short time and who give more importance to quantity rather than quality of content to improve its Search Engine Rank and web traffic. They may not be of much use to those who give higher importance to quality, rather than quantity. 

Written By: S. Chandrashekara Reddy

Contact:  chandrashekarareddys@gmail.com

Disadvantages of Content Generation Tools

Following are the disadvantages of Content Generation Tools:

·                 Auto generated content possesses lower quality in comparison to manually written content.

·                 If your website or blog is a member of any advertisement network such as Google ad sense, it is advisable not to use the auto content generated by content generation tools.

·                 Most of advertisement networks terminate the memberships of publishers whose sites contain auto generated content. Hence, most of the advertisement network program members keep themselves away from using auto content generation tools to safeguard their memberships.

·                 Google and other search engines have strictly prohibited the usage of auto generation content. If any website, blog or online contains auto generated content, the search engines may ban the site/blog/online page and subsequently, traffic and page rank of the web page comes down. 

·                 Some of the paid tools are overpriced. Some of the paid tools may not give the desired results and may not yield the promised ROI (Returns on Invest).

·                 Auto generated content usually contains several spelling and grammar errors which irritate the reader and often kill the readability of a write-up. The readers may not visit once again in future. It adversely affects the reputation of the website among readers. Thus, web traffic for your website or blog may come down drastically.

·                 The content may not be genuine in most of the cases. Sometimes, the content may be junk completely and may not make any sense as the content is generated merely based on the algorithm on which it is designed. Thus, it creates ambiguity among readers and readers may get misled.

·                 Accuracy of information and credibility of auto generated content may not be as high as content prepared by a writer.

·                 Content generation tools may not use most appropriate words according to the situation and may not be aware which word suits the situation better.

·                    Content writers are required to submit auto-generated content only after manual proof-reading and editing as major portion of such content is featured by poor readability, poor comprehension, and improper alignment. Otherwise, you may land in troubles when your employer questions its quality.

Written By: S. Chandrashekara Reddy

Contact:  chandrashekarareddys@gmail.com

Advantages of Content Generation Tools

Advantages: Following are the advantages that the end user derives by using Content Generation Tools:

·         Users can generate content instantly on demand.

·         These tools can be used as an alternative ways when content writers are not available or in shortage or firm can not afford the services of content writers.

·         Content managers/Website managers can depend on the tools when the available content writers are unable to produce required quantity of data within deadlines.

·         When there is a shortage of time to create content manually, the work can be carried out by using automation tools.

·         Content generation tools help users in saving time spent on content generation and thus, enhance productivity.

·         A content generation tool does not get tired and affected by the change of mood, like a content writer while functioning.

·         Content writers generate content only during working hours. Using content generation tools, users can generate content at any time. 

·         It is a boon for Search Engine Optimizers, who require content in very short time and who give more importance to quantity rather than quality of content to improve its Search Engine Rank and web traffic.

·          Auto content generation may not be complete alternative to manual content generation but, both act as complimentary to each other in order to make the work more effective.
Some of the tools are available free of cost in the market. Small scale companies which cannot afford paid tools can make use of free tools. However, paid tools are usually more effective than free tools.

Written By: S. Chandrashekara Reddy

Contact: chandrashekara_reddy@yahoo.co.in

                chandrashekarareddys@gmail.com

Auto-Content Generation Tools: Prime Features

Features of Content Generation Tools: Following are some of the important features of Content Generation Tools: • The quality and reliability vary from tool to tool. • Some of the tools are available freely online but, most of them are paid ones. • Paid versions are usually more effective than free versions i.e., content generated by free versions is not as effective as that generated by paid versions. • Some of the content generation tools expect the user to register with them and to enter your username and password to allow users to use them. Others do not impose any such requirements and allow users to use them directly. • Usually, a content generation tool may generate content ranging from 150 to 250 words at a time. • The efficiency of tools varies according to algorithms based on which they are designed. • No content generation tool can replace the manual writing till today. In fact, it will not be possible to produce such a tool that will completely replace manual writing because a tool is developed based on mere algorithm. • Auto content generation tools may have certain limitations. But, it should be remembered that the tools that we use now are better than the tools that we used in the past and the future tools will certainly be better than the algorithms that we use now. Of late, developers started focusing on developing context sensitive algorithms. It may enhance the reliability and credibility of the tools further in future. Features of Auto Generated Content: Following are some of the important features of auto generated content: • In most of the cases, the content generated by auto content generation tools may not be genuine. Sometimes, the content may be junk completely and may not make any sense as the content is generated merely based on the algorithm on which it is designed. • Auto generated content usually possesses poor comprehension and readability. Thus, it creates ambiguity among readers and readers may get misled. • Accuracy, reliability and credibility of auto generated content cannot not be as high as content prepared by a writer. • Usually, auto generated content appears in non-aligned manner. Written By: S. Chandrashekara Reddy Contact: chandrashekara_reddy@yahoo.co.in chandrashekarareddys@gmail.com ***

Auto-Content Generation Tools: Basic Introduction

Introduction: Of late, there is higher demand for content in various industries but, they are short in supply. Among available writers too, most of the writers are freshets. After working for a few years, most of the content writers switch over to some other profession. Thus, the experienced content writers are further less in number and they usually demand higher amount. Small scale companies may not afford them. Even if they are recruited, they may not produce required quantity of content within timelines whenever they are given short timelines. Such industry problems created a requirement to design Content Generation Tools, which are capable of producing content instantly on required topic. Such content generated by content generation tools is called “Auto Generated Content” or “Auto Content” or “Tool Generated Content”. Hence, online publication industry depends on Content Generation tools under following situations: • When “Content Writers” are not available • When a firm is unable to hire the services of “Content Writers”, due to financial constraints • When “Content” is required instantly • When available writers are not sufficient to prepare required quantity of content within time bounds. Auto generated content is used usually by Search Engine Optimizers who require content in very short time and who give more importance to quantity of content rather than its quality to improve its Search Engine Rank and web traffic. Nowadays, a large number of content generation tools are mush rooming the market. Some of such tools offer free versions but, most of them are paid software. Usually, organizations do not go for paid versions unless it is a large-scale organization. Written By: S. Chandrashekara Reddy Contact: chandrashekara_reddy@yahoo.co.in chandrashekarareddys@gmail.com

After a long time

Hi,

Dear frineds, 

   I could not update my account since a longtime due to my personal activities. 

Soon, I will commence posting them again. 

I wish you to find some new postings soon. 

With regards, 

S. Chandrashekara Reddy. 

Philosopher's Stone: First series of Harry Potter

It is the first part of the series. In the story, Harry Potter was a wizard. When Harry was a baby, his parents are killed by Lord Voldemort, an evil. Then, Harry was brought up by his Aunt Petunia and Uncle Vernon. Potter makes a debut into the world of wizards when he is eleven year old. He joins a school where he is taught witchcraft and wizardry.

When he was at a school, Harry fights Voldemort good many times. Harry, along with his pals, comes to know about the Death Eaters and wins over them. (Note: Death Eaters are a group of wizards & witches belonging to Voldemort).

Harry Potter and Deathly Hallows

Harry Potter and the Deathly Hallows

• It is the 7th volume of the novel.

• It is the latest and of course, the last novel of the Harry Potter series.

• The final sequel was released on 21 July 2007.

• People eagerly waited for the release of 7th edition. The eagerness has influenced some of cyber criminal to leak the book online shortly before the official release of the book.

• The book was released in 93 countries simultaneously.

• It broke all the previous records in book selling.

• It is the fastest selling book in the history of humanity.

• Just within 24 hours after its release, it sold 15 million copies.

• In the United States of America and United Kingdom itself, there were more than 11 million copies.

• The previous record, 9 million in its first day, had been held by Harry Potter and the Half-Blood Prince. The novel has also been translated into over 120 languages, including Ukrainian, Swedish, and Hindi.

The story of the novel rotates around two important key points namely “life” and “death”. The book was named as "the Best Book for Young Adults" by the American Library Association. A film was made based on the story of the novel. The movie has two parts and the first part was released in November, 2010. The second part of the movie was released on 15th July, 2011.

Harry Potter

• J.K.Rowling, an eminent British novelist, penned down the novel.

• The novel was a series of 7 volumes.

• The series started in 1997.

• Harry Potter and the Philosopher's Stone was the first of the sequel.

Written by: S.Chandrashekara Reddy.

Building relationships before selling

It is a well known proverb “Customer is God in business”. No business can survive for a longer time if it does not build and maintain good relationships with customers. Broadly speaking, the relationships with customers are of two types namely ‘relationships before selling’ and ‘relationships after selling’. 

Before sales relationships primarily deal with the following issues:

·         Product promotion

·         Educating the customers about the benefits they derive by purchasing the product

·         Educating the customers how  our product is superior to the products of our competitors

·         Clarification of misconceptions about the product or offer

·         Motivating the customers to buy the product

Here, the prime focus should be on ‘Selling’ but not merely on ‘Telling’.

Methods to build relationships with ‘customers before selling’

Following are some of the methods that help you to build your relationships with your customers before selling:

·         To build relationships with customers before selling, a good database of potential customers should be collected. However, mere collection of data and maintenance of database will not definitely serve the purpose. You have to contact the customers on timely basis.

·         Assure that the data that you collect is quality data. Make a prior enquiry whether the customers whose data you collect are potential customers or not. 

·         If any contacted person shows any interest to buy the product, collect their address, phone number, and mail ids.

·         Prefer sending e-mail over making telephone calls because it will not disturb the customers and they can go through your mail according to their convenience. Moreover, it costs you nothing.

·         If you want to meet any customer personally, you ensure that you have received prior appointment.

·         Motivate him/her to buy the product using different kinds of motivational methodologies

·         You inform them about your latest products and offers.

·         You inform them about the benefits they derive by purchasing the product

·         You explain them how your product is superior to the products of your competitors.

·         You clarify their misconceptions about your product and motivate them to buy your product.

·         Try to make use of social media communities to the maximum possible extent. Never think that social media is only for personal use and remember that it is a good tool to develop your business.

·         To promote your product, select the medium of promotion which assures you more ROI. To assess ROI of different mediums of promotion, take the help of industry experts.

·         Be quick to respond whenever you receive any kind of enquiries or leads.

·         Introduce methods such as LinkedIn Answers, a feature that allows people to ask questions and receive answers.

·         With your customers, try to be always open and do not be conservative until there is a chance of your trade secrets and security policies getting violated.

·         When you communicate with your customers, make your communication customer centric.

·         When you build your website or give a commercial advertisement, clearly mention about all the required contact details.

Written by: S. Chandrashekara Reddy

Mail Id: chandrashekara_reddy@yahoo.co.in

Social Media: Impact on your business in 2010

Social media marketing is a boon for small and medium scale organizations. The organizations that have jumped on the social media bandwagon have received various benefits which are discussed below. Though some of the late comers have missed some of the ‘first mover advantages’, they have realized that late is better than never.

Following are some of the advantages that the firms, which have entered social media groups, received with the introduction of social media:

Increase in sales volume: Social Media helps to get more leads, which indirectly results in the hike in the volume of sales, which ultimately results in profitability. However, some of products and offers may receive quick response while others may take more time than expected to receive leads from audience. 

Building relationships: Social Media helps us reach our customers and improve rapports with them. It helps us know about the requirements thoroughly in a more effective way.

Educating Customers: Social Media is proved as a mutual beneficial to both firms and clients as it helps us educate our customers about our offers and products. Some organizations encourage some of their loyal customers to start their own social media groups in order to express their opinions and share their experiences with products and offers of the organization. They started using the LinkedIn Answers, a feature that allows people to ask questions and receive answers.

Branding: Social Media has helps us improve credibility in industry and to build reputation. It makes products and offers more popular among customers.

Improvement on ROI: Social Media enhances our ROI (Returns on Investment). You need not invest a big amount to enter social media marketing to achieve greater success rate due to an enormous improvement in our sales volume. To keep it in nutshell, what you put into it is less and what we have got out of it is more. 

Reasons for our success: Following are some of factors for the success of a firm in social media promotions:

·         Make social groups customer friendly and customer centric.

·         Make an extensive use of micro blogging.

·         Emphasize more on core areas of the value chain, including the marketing and communications and customer service departments.

·         Though the IT department is not involved in social media promotions as a primary decision maker, integrate the department with existing business processes to derive maximum benefits.

Conclusion: One can improve one’s business by entering social media; however, one has to realize that the success of social media promotions depends on the structured and organized manner in which it is implemented. It is advisable to for them to focus more on carrying social media promotions in more structured, organized and effective manner.

Written by: S.Chandrashekara Reddy

Mail ID: chandrashekarareddys@gmail.com