STRENGTHS AND WEAKNESS ANALYSIS WORKSHEET

.

INDUSTRY AND COMPETITIVE FORCES ANALYSIS

. Bargaining Power of Buyers
Buyer purchases large volumes
Buyer purchases small volumes
Products purchased are significant part of buyer’s cost
Products purchased aren’t significant part of buyer’s cost
Products purchased are standard or undifferentiated
Products purchased are highly differentiated and unique
Buyer faces few switching costs
Buyer faces significant switching costs
Buyer’s profits are low
Buyer’s profits are strong
Buyer has ability to manufacture products being purchased
Buyer doesn’t have ability to manufacture products
Industry’s products aren’t important to quality of buyer’s products
Industry’s products are important to quality of buyer’s products
Buyers have full information
Buyers have limited information

Bargaining Power of Suppliers
Supplying industry has few companies and is more concentrated
Supplying industry has many companies and is fragmented
There are no substitute products for supplier’s products

……

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INDUSTRY AND COMPETITIVE FORCES ANALYSIS

Worksheet_Evaluating Management Performance

. 1. We operate with a complete and up-to-date business plan that includes:
A) One- and three-year projections
B) A capital budget

2. We operate with an annual marketing plan that includes:
A) Precise sales and profit goals and timetables
B) Strategies and tactics for the next three years
C) Budgets, Forecasts, and Benchmarks
D) A tentative sales plan
E) The demographics of our target markets
F) A thoughtful definition of the markets we serve
G) A definition of the needs/wants our products and services fill
H) An analysis of the growth potential of our markets
I) A competitive analysis
J) A definition of our “Unique Selling Proposition”
K) Projections for other products or services that could be developed
L) Timetables for research and development

3. We use monthly budgets and statements that include:
Thorough and up-to-date records
Cash flow budget
Profit and Loss (Income) Statement
Balance sheet
Deviation analysis
Ratio analysis
Standard cost comparisons
Cash reconciliation

……

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Worksheet_Evaluating Management Performance

POSSIBLE RESEARCH AND DEVELOPMENT STRATEGIES

. R&D EMPHASIS

 Basic scientific research
 Product development
 Process development


R&D TIMING

 First mover
 Follower


PRODUCT AND PROCESS DEVELOPMENT

Who?

 Separate R&D department
 Cross-functional team
 Some variation

How?

 Formal or informal process
 Use prototypes
 Use product test
 Use design reviews
 Use test markets
 How to implement new design
 How to evaluate success of new design


CURRENT R&D STRATEGIES

 Employee suggestion systems
 Risk-taking and innovative culture


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POSSIBLE RESEARCH AND DEVELOPMENT STRATEGIES

Possible Production and Operations Management Strategies

. PRODUCTION PROCESS STRATEGIES

 Process-focused
 Product-focused
 Repetitive-focused


CAPACITY STRATEGIES

 Size of facility
 Efficient use


LOCATION STRATEGIES

 Location selection
 Global presence


WORK DESIGN STRATEGIES

 Job specification
 Job enlargement
 Job enrichment
 Ergonomics
 Work methods
 Motivation/incentive systems
 Standards/output levels

……

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Possible Production and Operations Management Strategies

POSSIBLE MARKETING STRATEGIES

. SEGMENTATION STRATEGIES

 Geographic
 Demographic
 Psychographics
 Behavioral


TARGET MARKET SELECTION STRATEGIES

 Single-segment concentration
 Selective specification
 Product specialization
 Market specialization
 Full market coverage


DIFFERENTIATION STRATEGIES

 Product itself
 Services
 Personnel
 Image


POSITIONING STRATEGIES

 Attribute positioning
 Benefit positioning
 Use/application positioning
 User positioning
 Competitor positioning
 Product category positioning
 Quality/price positioning

……

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POSSIBLE MARKETING STRATEGIES

Evaluating Family Budget

. EXPENSE DESCRIPTION
Auto expense
Auto insurance
Auto payment
Beauty shop and barber
Cable TV
Charity
Child care
Clothing
Credit card payments
Dues and subcriptions
Electricity
Entertainment and recreation
Gas company
Gifts
Groceries and outside meals
Health insurance
Home repairs
Household
Income tax (additional)
Laundry and drycleaning
Life insurance
Medical and dental
Miscellaneous
Mortgage payment
Other debt payments
Rent
School expenses
Telephone bill
Tuition
Vacations
Water

……

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Evaluating Family Budget

PERSONAL STRENGTHS AND WEAKNESSES WORKSHEET

. The chart below will help you identify your strengths and weaknesses and will give you a better idea if you’re ready to become a small business owner. Examine each of the skills areas listed in the chart. Ask yourself whether you possess some or all of the skills listed in the parentheses. Then rate your skills in each area by circling the appropriate number, using a scale of 1-5, with 1 as low, 2 as between low and medium, 3 as medium, 4 as between medium and high, and 5 as high.

……

After you’ve rated yourself in each area, total up the numbers. Then apply the following rating scale:

 If your total is less than 20 points, you should reconsider whether owning a business is the right step for you.

 If your total is between 20 and 25, you’re on the verge of being ready, but you may be wise to spend some time strengthening some of your weaker areas.

 If your total is above 25, you’re ready to start a new business now.


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PERSONAL STRENGTHS AND WEAKNESSES WORKSHEET

START-UP COSTS WORKSHEET

. Accounting Services
Advertising And Promotion For Opening
Architectural Design
Cash
Decorating
Deposits For Utilities
Equipment
Estimated Taxes
Headhunting or Other Hiring Costs
Installation Of Equipment
Insurance
Legal Costs
Licenses And Permits
Moving
Office Supplies
Print Design
Printing
Remodeling, Buildout
Rent Deposits
Salaries
Signs
Software
Starting Inventory
Unanticipated expenses
Vehicles
Web site

……

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START-UP COSTS WORKSHEET

SELF-ASSESSMENT WORKSHEET

. We recommend that you complete the following self-assessment work sheet as honestly as you can. There is no good or bad answers. Just write down whatever comes to your mind; don’t over-think the exercise. Most likely, your first response will be your best. Once you’ve finished the exercises, try to identify business opportunities that match your answers.

1. List at least five to seven things you like to do or are good at.

2. List five to seven things you are not good at or you don’t like to do.

3. If there were 3 to 5 products or services that would make your personal life better, what would they be?

4. If there were three to five products or services that would make my business life better,
what would they be?

5. When people ask what you do, what’s your answer (list one occupation or whatever mainly
occupies your week)?

……

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SELF-ASSESSMENT WORKSHEET

FRANCHISE COMPARISON WORKSHEET

. THE FRANCHISE ORGANIZATION
Does the franchisor have a good track record?
Do the primary leaders of the franchise have expertise in the industry?
Rate the franchisor's financial condition.
How thoroughly does the franchisor check its prospective franchisees?
Rate the profitability of the franchisor and its franchisees.
Column Totals

THE PRODUCT OR SERVICE
Is there a demand for the product or service?
How seasonal is the product or service?
Are industry sales strong?
Rate the product or service in comparison to the competition.
Is the product or service competitively priced?
What is the potential for industry growth?
Column Totals

THE MARKET AREA
Are exclusive territories offered?
Can you sell franchises in your territory?
Rate the sales potential of the territory you are considering.
Is the competition strong in this area?
How successful are franchisees in close proximity to this area?
Column Totals

THE CONTRACT
Are the fees and royalties associated with the franchise reasonable?
How attractive are the renewal, termination and transfer conditions?
If the franchisor requires you to purchase proprietary inventory, how useful is it?
If the franchisor requires you to meet annual sales quotas, are they reasonable?
Column Totals

FRANCHISOR SUPPORT
Does the franchisor help with site selection, lease negotiations and store layout?
Is the training program effective and does the franchisor provide ongoing training?
Does the franchisor provide financing to qualified individuals?
Are manuals, sales kits, accounting systems, purchasing guides provided?
Does the franchisor sponsor an advertising fund to which franchisees contribute?
How strong are the franchisor's advertising and promotional programs?
Does the franchisor have favorable national contracts for goods and services?
Column Totals
Total Scores

……

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FRANCHISE COMPARISON WORKSHEET

BUSINESS SELECTION WORKSHEET

. The following worksheet will help you choose the business that’s right for you. It’s important that you take the time to evaluate all aspects very deeply. To fill it out, follow these three steps:


1. First, list the business ideas you’re considering by order of interest. In the top left-hand blank space put the idea you think you’re most interested in. Underneath it put the next idea and so forth.

2. Then, take each idea and rate it in each of the areas. Use the following rating system:

Rating 0 - none
1 - below average
2 - average
3 - above average

3. Finally, total up the numbers. Here are some tips for making sense of the numbers and for narrowing your list of business possibilities:

 eliminate any of your ideas that scored less than a total of 10
 eliminate any idea that did not score at least a 2 in every category
 eliminate any idea that did not score at least a 3 in the uniqueness category


How many ideas are left? If the answer is “none,” then you need to use to identify where you need to improve and you need to develop a strategy for raising the “1’s” to “2’s” or “3’s.” If the answer is “more than one,” you have a pleasant dilemma. If the answer is “one,” you may have just found the business that’s perfect for you.


YOUR KNOWLEDGE OF THE BUSINESS

How much do you know about the area? Will you have to spend extra time and money teaching yourself the business? Will you have to take on a partner because you don’t know the business well enough?

Rating: 0 - No knowledge of the business
1 - Some indirect knowledge of the business
2 - Limited knowledge
3 - Working knowledge


YOUR EXPERIENCE IN THE FIELD

In some cases, you may have a lot of knowledge about the subject, but not much experience. Have you ever worked in this type of business before? To what extent is experience crucial to the business?

……

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BUSINESS SELECTION WORKSHEET

FRANCHISE FEASIBILITY TEST

. Use this form to help you determine the feasibility of your business as a franchisable concept. Answer each question, assigning a rating of 1-5 for each question, with 5 being the strongest. Total each column after you’ve finished, then add all five columns together for a grand total. The higher the score, the more potential the concept has of becoming a successful franchise.

Does your business have an established track record of more than five years?
Do you and/or any of your partners have experience in the business greater than the period of time your business has been in operation?
Does your business have 10 or more locations?
During the time your business has been in operation, has it maintained average net profits in each location of more than $200,000?
Does the business generate repeat customers on a frequency greater than two times per month?
Does the business attract customers from a 5 mile radius or greater?
Do you have more than $250,000 to invest in the development of your franchise concept?
Do you and/or any of your partners have business management experience greater than 10 years?
Will the start-up requirements for franchisees be less than $25,000?
Are training requirements less than three months?
Does your business have international adaptability?
Rate the competitiveness of your industry.
Have you received more than 10 franchising inquiries in the last year?
……
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FRANCHISE FEASIBILITY TEST

Checklist_Ways to Communicate

. As you will see in this checklist, there are dozens of ways to communicate. Challenge yourself to consider how you can use any of these tools to improve your relationship with employees, clients, customers, investors and other stakeholders.

1. Written Materials
 Memos
 Newsletters
 Direct mail
 Letterhead
 Business Cards
 Brochures/Pamphlets
 Flyers
 Booklets  Books
 Magazines
 Surveys
 Instructions
 Handbooks
 Financial Reports
 Annual Reports
 Pie Charts & Graphs  Postcards
 Posters
 Advertisements
 Catalogs
 Slogans
 Contracts
 Perf. Agreements
 Paper Style/Color


2. Meetings, Etc.
 One on One
 Group Discussions
 Team Meetings
 The Grapevine
 Breakfast Meetings  Lunch Meetings
 Dinner Meetings
 Speeches
 Seminars
 Conferences  Grievance Systems
 Open Door Policies
 Tele-Conferencing
 Video-Conferencing
 Focus Groups


3. Individual
 Dress
 Intonation  Body Language
 Eye Contact  Smell
 Facial Expressions


4. Telephone
 Voice Mail Systems
 Interactive Voice Response Systems
 Pagers  800 Numbers
 900 Numbers
 Telemarketing


5. Computers & Technology
 E-Mail
 CD-ROM
 Geographical Information Systems (GIS)
 Push Technologies  Screensaver
 Multimedia
 Global Positioning Satellites (GPS)
 Virtual Simulations
 E-Zines  Web Sites/Internet
 Intranet
 Internet Message Boards
 Internet Video Cams
 Contact Management Program
6. Facilities
 Design/Layout
 Lighting  Colors
 Art  Access
 Flexibility


7. Miscellaneous
 Cassettes
 Videos
 Awards
 Bonuses
 Media Articles
 Public Relations
 Closed Circuit T.V.  Fax-on-Demand
 Suggestion Systems
 Bulletin Boards
 Bus Benches
 Billboards
 Sales Force
 Satellite Transmission  Symbols
 Trademarks
 Service Marks
 Giveaways
 Community Activities
 Aroma
 Stories/Fables


Communicating is an art – no doubt about it. The challenge in all of this is to establish a “one-to-one” relationship. As heard recently, people are “drowning in information – yet, thirsting for knowledge”. By making all your communications permissive and mindful, you have the key to personal and business success.


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Checklist_Ways to Communicate

Checklist_Start-Up

. Background work

 Analyze your business idea by doing a SWOT analysis

 Assess your strengths and weaknesses as an entrepreneur

 Establish business and personal goals

 Assess your financial resources and identify potential sources of funds

 Identify the financial risks

 Determine the start-up costs

 Decide on your business location

 Do a thorough market research

 Identify your customers

 Identify your competitors

 Develop a marketing plan


Business transactions

 Select a lawyer and an accountant

 Choose a form of organization (proprietorship, partnership, or corporation, for example)

 Create your business (register your name, incorporate the business, etc.)

 Prepare a business plan

 Select a banker and set up a business checking account

 Apply for business loans and grants (if applicable)

 Establish a line of credit (if possible)

 Select an insurance agent and obtain business insurance


First steps

 Prepare corporate brochures

 Build a web site

 Set-up corporate e-mail accounts

 Get business cards

 Obtain a lease

 Line up suppliers (if applicable)

 Get furniture and equipment

 Obtain business licenses or permits (if applicable)

 Get a federal employer identification number (if applicable)

 Get a state employer ID number (if applicable)

 Send for federal and state tax forms

 Join a professional organization

 Choose a starting date

 Prepare and deploy your communication/marketing strategy


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Checklist_Start-Up

Checklist_Basic Franchise Agreement Terms

. One of the most popular way to start your own company is through a franchise; a business organization in which a well-known firm with a successful product or service – the franchisor – enters into a contractual relationship with another business – the franchisee – that operates under the franchisor's name in exchange for a fee. Franchise agreements vary from franchise to franchise so it would be impossible to identify every term and issue that should be considered in all situation. The checklist should be used in conjunction with the franchise agreement – the document that will set out all the terms and conditions that will govern your ownership of the franchise – which will be drafted by the franchisor. In any event, you shouldn’t sign it until you’ve discussed your options with your attorney.


Issues relating to the franchise cost terms

 What is the initial franchise fee? Is any part or the entire initial fee refundable?

 Does it include an ‘’opening'' inventory of products and supplies?

 What are the payment terms: amount, time of payment, lump sum or installment, financing arrangements, etc.?

 Does the franchisor offer any financing, or offer help in finding financing?

 Are there any deferred balances? If so, who finances and at what interest rate?

 Does the contract clearly distinguish between ``total cost'' and ``initial fee,'' ``initial cash required,'' or ``initial costs,'' etc.?

 Are there periodic royalties? If so, how much are they and how are they determined?

 How and when are sales and royalties reported, and how are royalties paid?

 If royalty payments are in whole or part payment for services by the franchisor, what services will be provided?

 Are accounting/bookkeeping services included or available?

 How are advertising and promotion costs divided?

 Is a specified amount of working capital required of the franchisee to cover operating costs until profits can be made?

 Must premises be purchased or rented, and are there further conditions on either of these (from franchisor, selected site, etc.)?

 How and by whom will the building be financed, if purchased?

 Does the franchisee have to make a down payment for construction and/or equipment?

……

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Checklist_Basic Franchise Agreement Terms

PURCHASE ORDER LETTER

. Dear [CONTACT NAME],


This is an order for the merchandise described below:

QUANTITY DESCRIPTION UNIT PRICE TOTAL

……
Please ship as soon as possible. Payment terms shall be standard 2%10 / NET30.

Method of shipment: [SHIPING COMPANY]

Any questions regarding this order should be directed to:

[CONTACT NAME] AT [PHONE] EXT. [EXT].


Thank you for your prompt and expeditious handling of this order.


Sincerely,


Your name
Your title
(800) 123-4567
youremail@yourcompany.com

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PURCHASE ORDER LETTER

Purchase Order_doc

. Your Company Name
Your Company Slogan
Address
City, State ZIP
Phone 123.456.7890 Fax 123.456.7891
Purchase Order


The following number must appear on all related
correspondence, shipping papers, and invoices:

P.O. NUMBER: 100

To:
Name
Company
Address
City, State ZIP
Phone
Ship To:
Name
Company
Address
City, State ZIP
Phone

……

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Purchase Order_doc

Free online business document templates:A blog for people to find and share free online business document templates(http://businessdocument.blogspot.com/)

Phone Memo

.

Purchase Order

. Your Company Name
Your Company Slogan
Address
City, State ZIP
Phone 123.456.7890 Fax 123.456.7891

The following number must appear on all related
correspondance, shipping papers, and invoices:

P.O. NUMBER: 100


To: Ship To:
Name Name
Company Company
Address Address
City, State ZIP City, State ZIP
Phone Phone

……

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Purchase Order