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c3 coursework guide Explanation of method, including how to set up your iterative formula, how to see if you've got a correct g(x) rearrangement by looking at the graph, what the staircase/cobweb diagrams look like when converging towards or diverging away from a root. How to draw iterations in Autograph. How to arawaks, do calculations in Excel. Writing formulae in Word using Insert - Equation. Carl Rogers And Abraham? Discussion of gradient of g(x) near root, including ways to illustrate this in Autograph (required for both a case where the method finds a root AND a case where the method fails to find a root). overview of what to do in this section of the coursework and a look at the assessment sheet for this part. Change of sign (decimal search) Finding a root of an equation with graphical illustration. This is graph of y=x3-7x2+2x+1. The graph shows that roots of f(x)=0 exist in the intervals [-1,0]; [0,1]; [6,7] We shall test for a root in the interval [6,7] Change of sign indicates root exists in interval [6.6,6.7] This means that x=6.65#xB1;0.05. Change of arawaks sign indicates root in interval [6.67,6.68] This means that x=6.675#xB1;0.005. Carl And Abraham Maslow? Change of sign indicates root in interval [6.678,6.679] This means that x=6.6785#xB1;0.0005.
Change of sign indicates root in interval [6.6780,6.6781] This means that x=6.67805#xB1;0.00005. Failure of the decimal search. Two of the roots of f(x)=0 where f(x)=5x3-20x2+2x-0.05 could not be found with this method. This is and the, because they are so close together that there is no sign change between f(0) and corey, f(0.1). The graph on the next page shows the graph of y=f(x) Using numerical methods to find roots of and. And The? solve polynomial equations. This report will explore and compare the advantages and disadvantages of carl rogers three different numerical. And The? methods used to solve polynomial equations, where analytical methods cannot easily be used. It will. explore instances where, for some reason, they fail and also examine their ease, efficiency and. usefulness in solving polynomial equations. Change of sign decimal search method.
The #x2018;change of Green Housing sign#x2019; method can be used to find an approximation of a root to arawaks, an equation to a specified accuracy, using a decimal search. Polynomial equations can be illustrated graphically as the function y = f(x), as shown below in figure 1. The points. where the corey, curve intersects the x-axis are the real roots of the the caribs and the, equation f(x) =0, because the x-axis is where y = 0. If the. curve crosses this line, the values for f(x) when x is slightly larger and smaller than the root will be positive and. negative, either way round (given that the values chosen for x are not beyond any other roots). A logical and systematic way to use this to tina theory, solve an equation to a certain degree of accuracy is a decimal search, where having already identified integer intervals where roots occur, the interval is divided into and the arawaks, ten, and Essay Love and Prejudice, f(x) for each of. the ten new values for x is found. The Caribs Arawaks? A search for court oath, a change of sign (+ or -) is conducted and the process is repeated in the. interval where the and the arawaks, change of sign occurs until the level of accuracy desired is achieved. After this, the same technique. is applied to find the court oath, other roots and thereby solving the the caribs and the arawaks, equation. Court Oath? Example of an application of the change of sign method.
For example, consider solving the following equation, by first finding the greatest root to five significant figures: It is shown in figure 1 that there are three roots to and the arawaks, this equation. That which is Essay on Unlikely in Pride, labelled #x2018;root c#x2019; will be attempted to be. Table 1: integer search for changes in sign. From the changes in sign in table 1, (+, green rows or -, red rows), it can be seen that there are roots in the intervals (2, -1), (0, 1) and (1, 2). The Caribs Arawaks? These changes are shown as the blue rows of the table. The integer interval which contains. root c can be deduced to be (1, 2). The integer search process of finding this interval is shown for the two bounds here: Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Figure 1: a graph of the function y = f(x), where f(x) = 6x5-9x4-4x3-20x+26. x is in the interval. x=2 to 1 significant. x is in the interval (1.98,1.98332. 0.00698808x=1.9 to 2 significant figures.
x is in the interval (1.983, 1.984) x=1.98 to 3 significant figures. Rogers Maslow? x is in the interval (1.9833, 1.9834) x is in the interval (1.98333, 1.98334) x=1.983 to 4 significant figures. x=1.9833 to 5 significant figures. values separated by an interval of 0.1. The same process is repeated for each interval a tenth of the size of and the the. previous, each identified by a change of sign, until the accuracy desired (five significant figures) is achieved. Table 2. shows this process. The final decimal search shows that there is a root in the interval (1.98333, 1.98334). Tina Bruce? All values within this interval. round down to 1.9833 and therefore, this approximate value for this root of the given equation is correct to and the arawaks, five. This #x2018;decimal search#x2019; process can also be illustrated graphically, as shown in figure 2. Love And Prejudice? Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Figure 2: a graphical illustration of y = f(x), showing that the root is in the interval [1, 2) For the the caribs, first integer search, the graph in figure 2 shows again that f(1) is negative and that f(2) is giles corey, positive, and. therefore, the curve must cross the x-axis somewhere in the interval between these two values i.e. there is a root in the.
Figure 3: graphical illustration of the caribs and the arawaks y = f(x) that the root is in corey quotes the interval [1.98333, 1.98334) For the final decimal search, the graph in figure 3 shows again that f(1.98333) is the caribs and the arawaks, negative and that f(1.98334) is. positive, and therefore, the curve must cross the x-axis somewhere in the interval between these two values i.e. there is. a root in the interval (1.98333, 1.98334). The same process can be repeated with roots a and court oath, b to give answers of x = -1.3889 and x = 0.97356 respectively, each. to five significant figures. And The? The original equation has therefore been solved. Essay On Unlikely In Pride? Example of a failure of this method. For example, consider the arawaks, following equation: 1323 x 5 #x2212;11277 x 4 +14397 x 3+ 68513 x 2#x2212;80476 x#x2212;153760=0. Green Affordable? Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Root d (repeated) Figure 4: a graph of the function y = f(x), where f(x) = 1323x5-11277x4+14397x3+68513x2-80476x-153760, showing that there is the caribs arawaks, a repeated root. When the graph for y = f(x) (figure 4) for this equation is plotted, it only touches the x-axis at a single point.
It never. crosses it. In this case, on both sides of the root of f(x) = 0 (intersection with the x-axis), f(x) 0 so the sign is always. remains positive and no change of sign actually occurs. This is the case because there is a repeated root for the equation above. Because it happens to be an irrational one, and. therefore nonterminating, no amount of repetitions of the decimal search process in the interval (4, 5) will return a. value of corey zero (and thereby identify the the caribs and the, root outright). Missed root here. Missed root here. Table 3: integer search with missed roots. Table 3 shows how an Essay Love in Pride and Prejudice integer search suggests that there are just two roots in the interval searched.
Not only does it. show that the technique does not suggest that there is a root in the interval, (4, 5), it also does not show that there is a. root in the interval (-2, -1) because there are two distinct roots occurring close together within the the caribs, said interval, and. both f(-2) and corey quotes, f(-1) are negative so it wouldn#x2019;t be seen to be necessary to conduct a decimal search on and the arawaks this interval. The change of sign method fails here because it has failed to identify the court oath, root in the intervals (-2,-1) and (4, 5). This method works by taking an estimated root and finding where its tangent to and the, the curve crosses the giles, x-axis. The xcoordinate of this intersection is taken and its tangent to the curve is and the, taken and the process is corey, repeated. In most cases. the x-coordinate becomes closer to the root with each repetition. Taking x0 as the first rough estimate, the point on the curve for this x-value would be (x 0, f(x0)).
A general straight line. can be written in the form. The tangent to the curve, with the gradient being the derivative of f(x) at x 0 (f#x2019;(x0)), would be expressed as the. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. The next x-coordinate will be called x1. It is where the line stated above crosses the x-axis, in other words, when y = 0. Substituting this into the function above, as well as changing x to x1 to make it the first iteration, it can be rearranged. to give the following: When this is generalised for the caribs and the arawaks, when x0 = xn, the inductive formula is given as: Example of an application of the Newton-Raphson method. The Newton-Raphson method will be used to solve the following equation: Figure 5: a graph of the function y = f(x), where f(x) = x3+3x2-13x+4. Because f(x) = 0 where the curve intersects the x-axis, it can be seen in figure 5 that there are three distinct roots to the. equation, labelled as k, l and m. They are in the intervals (-6, -5), (0, 1) and (2, 3) respectively. Without a graph, these. intervals could have been obtained using an integer search using the change of sign method. As previously explained, the iterative formula for the Newton-Raphson method is: Because here, f(x) = x3+3x2-13x+4, f#x2019;(x) = 3x2+6x-13.
Substituting these into the iteration: This will be used, first, to find an theory approximation for root k, in the interval (-6, -5). The value for x 0 will be -6 as it is. the closest integer to the root according to the caribs and the, the graph. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. x 03 +3 x 02#x2212;13 x0 + 4. Giles Quotes? x 13 +3 x12#x2212;13 x 1+ 4. Further iterations using this formula are shown in table 4. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Table 4: iterations for and the arawaks, root k. All values of xn have been found using the iterative formula shown above. From the fact that the root is close to -5.497204, and xn for values where n3 round to this value (to seven significant. figures), it can be suggested that it lies in the interval [-5.4972035, -5.4972045), or that root k is x=5.497204#xB1;0.0000005, which can also be expressed as x = -5.4972 to five significant figures, since both bounds round. to Housing, this value. It has taken four iterations to obtain this answer. The verification for these bounds is as follows: They are verified as one is positive and the other is negative. The tangent to the curve at the initial value of x, x0 = -6 is taken (figure 6). And The? From this x-coordinate, the Essay Love, tangent to the. curve is and the arawaks, taken and the process is repeated three times (figure 7).
Vertical lines are drawn to show where the next. iteration of x is on the curve. Figure 6: a graph of the in Pride and Prejudice, function. x3+3x2-13x+4, showing the first iteration. Figure 7: only x1 and x2 have been labelled as due to the resolution, it would y = be impractical to label further iterations of x. Table 5 shows that for the root l in the interval (0, 1), it has taken four iterations of this method to and the arawaks, obtain the answer x. = 0.33681 to five significant figures. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Table 5: Newton-Raphson iterations for on Unlikely and Prejudice, root l. The verification for the bounds for this approximation is the caribs and the arawaks, as follows: f ( 0.336805 ) =( 0.336805 )3 +3 ( 0.336805 )2#x2212;13 ( 0.336805 ) +4=5.42 #xD7;10#x2212;5 0. They are verified as one is positive and the other is court oath, negative.
Table 6 shows that for the root m in the caribs and the the interval (2, 3), it has taken four iterations of Affordable this method to obtain the answer x. = 2.1604 to five significant figures. Table 6: Newton-Raphson iterations for root m. The Caribs Arawaks? f ( 2.16045 ) =( 2.16045 ) + 3 ( 2.16045 ) #x2212;13 (2.16045 )+ 4=7.78 #xD7;10 0. Example of a failure of this method. Essay And Prejudice? The Newton-Raphson method should converge towards the root which is intended to be found. It does sometimes fail. to do this, either by diverging away from the root towards infinity or by converging towards a different root. One of the causes of the caribs this is that the initial estimate, x 0, is close to im unique, a turning point. Consider this equation: Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Figure 8: a graph of the the caribs, function y = f(x), where f(x) = #x2212;0.48x4#x2212;1.09x3+0.89x2+1.16x#x2212;1.87=0.
Figure 8 shows that there are two roots to this equation. The Newton-Raphson method will be applied to try to find. Essay On Unlikely? root d with an estimate by eye of x0 = -2. The iteration formula is given by the following: Table 7 shows eighteen iterations of x in a tabular format. Instead of giving the correct result for root f, the application of the method has instead converged towards x = -1.6610. to five significant figures #x2013; root e. Figure 9 shows graphically why this has happened. Because x = -2 is close to a. turning point, the the caribs and the, gradient of the tangent near it is changing at a quick rate as it turns around the local maxima. It is. Essay Love? therefore not relatively consistent, where this method works best. Its shallow gradient can be illustrated by the large. number of arawaks iterations required to obtain an answer (at least compared to the previous example). Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics.
Because the theory, tangent of x = -2 has a negative gradient as it is on arawaks the other side of the turning point to carl rogers and abraham maslow, root d, it crosses. the x-axis to the left of this initial x value and and the arawaks, so begins to giles quotes, converge towards the root just less than x = -2, instead of. the one just more than it, which was the the caribs and the, one desired. Figure 9: y = f(x), showing graphically all the iterations of the formula required to find the root. In figure 9, the Affordable Housing Essay, tangent to the curve at the caribs arawaks x = 2 crosses the y-axis on the right side of the turning point, and so successive. iterations converge towards the root on the right side of the turning point (root e) instead of that on the left (root d). This is what causes the failure for finding root d, with x 0 = -2. Rearrangement into x = g(x) method. Court Oath? This method works by rearranging the equation f(x) = 0 into another where x is the subject, x = g(x). And The? An iterative. Essay On Unlikely And Prejudice? formula derived from this is then applied to this new function: The application of this produces a converging sequence of numbers towards the value at which the line y = x crosses y. = g(x) on a graph. Algebraically, this, through simultaneously solving through equating these two equations, gives, at. the point where x = g(x), the x value for which f(x) = 0. It therefore finds the root. The Caribs Arawaks? Example of an court oath application of the rearrangement method.
This method will be used to solve the following equation: This can be arranged into many different new equations for the caribs, x = g(x). One of these is: Figure 10 graphically shows that there is one root to the equation; it is in the interval (0, 1). Therefore, taking x0 = 0 (judging by eye), the application of the iterative formula provides the sequence shown in table. Tina? 8. At the 17th iteration, the same result is given as the the caribs and the arawaks, previous iteration, to six significant figures. This value rounds to. 0.20047 to five significant figures. The verification for this is as follows, by bruce theory, taking the values of f(x) for the upper and lower bounds of this value: f ( 0.200465 ) =#x2212;99 ( 0.200465 ) +5 ( 0.200465 ) #x2212;7 ( 0.200465 )+ 2=0.0001390274060821250. The Caribs And The? Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. f ( 0.200475 ) =#x2212;99 ( 0.200475 )3 +5 ( 0.200475 )2 #x2212;7 ( 0.200475 )+ 2=#x2212;0.0000302846100156250.
They are verified as one is positive and carl rogers, the other is and the arawaks, negative. Figure 10: a graph of the function y = f(x), where f(x) = -99x3+5x2-7x+2. Table 8: g(x) iterations. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for rogers and abraham maslow, Advanced Mathematics. Figure 11 graphically shows how the rearrangement of f(x) = 0 converges towards the root. The two lines mentioned. have been plotted and the iterative formula#x2019;s graphical illustration is and the arawaks, shown in im unique blue.
The blue line shows convergence. in a rotating pattern #x2013; like a cobweb. From the point on the curve y = g(x0), a horizontal line is drawn across to meet the line y = x, so that the x value is. found where both lines have the same y value. Arawaks? This new value for Affordable Housing Essay, x becomes x 1. From here, a horizontal line, again, is. drawn across from the curve at the point which has the x value of x 1 and the same process is repeated to the caribs and the arawaks, find. subsequent values of xn, where n 1. Theory? These values of x converge towards the value of x where the two lines intersect, the same as the root of f(x). The labelled graphical values of x n correspond with those in the table. Figure 11: graphical illustration of y = g(x) (red line) and y = x (green line) with the rearrangement iterations shown in blue. The gradient of g(x) This method works only when the absolute value of the gradient of arawaks g(x) (i.e. g#x2019;(x)) at the point of intersection (the root. of f(x) = 0) is less than 1. Court Oath? This is because its gradient must be smaller in magnitude than the line y = x, otherwise, the. iteration will diverge away from the root as the two lines become further and further apart. For negative values of g#x2019;(x), the the caribs and the arawaks, iterations graphically form a cobweb pattern, like my example, as the and abraham maslow, x values. The Caribs? oscillate around the root. For positive values of g#x2019;(x), the iterations graphically form a staircase pattern, as the x value. for tina, the root is the caribs, approached from the same direction. Generally, the smaller the magnitude of g#x2019;(x), the fewer iterations are required to achieve a certain accuracy of the. intersection and vice versa.
In the particular example given, the method of rearrangement works in Green Affordable a cobweb pattern because g#x2019;(x) at the root is. about and the -0.42, which is negative and smaller than 1 in magnitude. This was achieved by substituting x = 0.2 into the expression for g#x2019;(x): Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Failure of this method. Another way of rearranging the equation f(x) = 0 is im unique, shown below. This equation will be referred to as x = h(x). As an iterative formula, this is: Table 9 shows iterations of this formula, again starting with x 0 = 0. It can be deduced that xn does not find the root. because the values seem to reoccur from the seventh and eighth iterations onwards, according to this degree of.
Figure 12 graphically illustrates this failure, showing that the first couple of iterations form a cobweb pattern, but then. goes round and round on itself, forming a stationary rectangle. This is the and the, observation that the values for each iteration. of xn change from 0.013857 and 0.285814 and keep doing so, seemingly forever. Table 9: h(x) iterations. Court Oath? Using the rearrangement method with h(x) fails because at the root, x #x2248; 0.2, h#x2019;(x) has a greater magnitude that 1: Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Because this value is the caribs and the, negative, the iteration has a cobweb pattern, but it also does not converge towards the root. Carl? Figure 12: graphical illustration of y = h(x) (red line) and y = x (blue line) with the and the arawaks, rearrangement iterations shown in green.
It is impractical to. show labels for further iterations. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Corey? Comparison of the methods. Comparative application of all three methods. Arawaks? I will use the three methods explored to find the root of the equation, 6x 5-9x4-4x3-20x+26 = 0 in the interval (-2, -1). Change of sign decimal search method. The decimal search finds that the root is between the values -1.388863 and court oath, -1.388862 and so x = -1.3889, correct to.
five significant figures. This took six iterations since bounds of seven significant figures are required to ensure an. And The? accuracy of five significant figures. Table 10 shows these iterations. Table 10: decimal search iterations for f(x) Using x0 = -1, the Newton-Raphson method takes seven iterations to find the same result to five significant figures, shown in im unique table 11.
Table 11: iterations to and the arawaks, solve the chosen root of f(x) using the Newton-Raphson formula. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. Because Newton-Raphson does not give an court oath interval which the root is in, it is necessary to verify the assumed result. This is shown below, using the interval bounds for the approximation of x = -1.3889 to 5 significant figures. Rearrangement into x = g(x) method.
A rearrangement of and the arawaks f(x) as an iterative formula is the following: 9 x n4 + 4 x n3 +20 x n#x2212;26. Iterations are shown in table 12. The root is court oath, shown to be x = -1.3889 to five significant figures. Table 12: x = g(x) iterations. Again, for the same reasons as for the Newton-Raphson method, this answer must be verified using the arawaks, upper and. lower bounds of the approximation interval.
Speed and efficiency comparison. In order to produce the same approximation with the same accuracy for on Unlikely in Pride, the chosen root, in this particular case, the. The Caribs Arawaks? decimal search method required the least number of iterations, with six needed. It required the highest number of. The Newton-Raphson method required seven iterations. It was the method requiring the least number of single. The most iterations taken was the rearrangement method, with 14 needed. In terms of speed, using spreadsheet software, the carl rogers and abraham, Newton-Raphson is quickest. On spreadsheet software, it requires. an x0 value, a spreadsheet formula for f(x), a spreadsheet formula for f#x2019;(x) and the caribs and the, a very simple iteration spreadsheet. formula to be manually inputted. The differentiation is usually quite simple because each term of x has a positive, whole number power. Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics.
The rearrangement method took longer to court oath, converge and it can often take a large number of iterations to converge to an. accuracy of five significant figures. Rearrangement is also quite easy and arawaks, quick to do. Carl And Abraham? The decimal search was the slowest in finding the roots. Although it only took six iterations, without extremely. complex spreadsheet formulas, each iteration needed to the caribs, be set up individually on court oath spreadsheet software through. identifying the two bounds from the previous iteration. Simple and reliable though this method is, it is much more. time-consuming than the other two methods. Each iteration also included nine unique calculations involving x. Using spreadsheet software like Google Docs Spreadsheet, Microsoft Excel or Numbers, all three methods are quite. easy and the caribs and the, quick to apply. Spreadsheets have the ability to quickly copy formulas and reapply them in a very short. amount of time. This is done by keyboard shortcuts, context menus or by dragging or double clicking a cell#x2019;s fill. handle.
They can also be made to make the processes automatic through the Essay, use of complex spreadsheet formulas, a. very strong advantage for bulk calculations of roots of equations. A disadvantage is that all mathematical formulas. must be typed in using a non-dedicated QWERTY keyboard on desktops and laptops, which can be very clunky and. tedious. The Caribs Arawaks? This is even worse on tina theory tablets and smartphones, where the user must scroll through many pages of arawaks symbols on. their keyboard to find commonly used mathematical symbols. Using purely software-based spreadsheets, the decimal search method is easiest to corey, use as it does not require any sort of. mathematical calculation, like rearranging or differentiating, just simply typing in a spreadsheet formula for the. Iterative methods, like Newton-Raphson or rearranging for x = g(x), can be easily done on scientific calculators using. the #x2018;answer#x2019; button, or equivalent. A formula can be typed in, replacing x n with the #x2018;answer#x2019; button, and pressing the. #x2018;equals#x2019; button gives the result for the next iteration. The decimal search can, at a push, also be used, but it would take a very long time a very many button presses, because each calculation for f(x) must be typed in separately #x2013; nine separate polynomial calculations for each. The Caribs And The Arawaks? A disadvantage of using a scientific calculator is the fact that the small display and linear input makes it easy to forget. to close brackets, resulting in an error. Newton-Raphson is, in my opinion, the quotes, easiest method to use with just a scientific calculator as it is iterative and the. calculation would normally be relatively straightforward to work out and type in. In the same way as scientific calculators, iterative formulas are easy to apply using graphical calculators.
Some also. And The? have the corey, advantage of being able to differentiate with respect to a variable like #x2018;x#x2019;, meaning the the caribs and the, user doesn#x2019;t have to if. Iterative formulas can also be put into tables, much like a spreadsheet. This makes it easier to spot convergence. Bruce Theory? Using. the table calculator function, the decimal search can also easily be used. I consider the decimal search the easiest method to and the arawaks, use because it is easiest to type in just a simple polynomial. equation, as opposed to complex iterative formulas of the other two methods. Advanced graphing software like Autograph can be used to apply the Newton-Raphson and rearrangement methods in. a graphical way. For Newton-Raphson, Autograph requires for the graph of y = f(x) to on Unlikely Love in Pride and Prejudice, be selected, then bringing up the context menu. and selecting the Newton-Raphson option brings up a dialog box. This enables iterations of the formula to be plotted. with an x0 value. The x = g(x) method can be graphically plotted in the same way, but first, the line y = x must be plotted.
Maurice Yap 6946 #x2013; Core 3 Mathematics Coursework #x2013; 4752/02 Methods for Advanced Mathematics. In my opinion, both these methods are equally easy to apply using Autograph software, but the Newton-Raphson. method is the most reliable, so it would probably be my preference. * For presentation purposes, the values printed are rounded, and the caribs and the arawaks, not exact values. Subsequent uses of this. number are shown rounded further, however, unrounded exact results have been used in the calculations.
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MLA Format Papers: Step-by-step Tips for Writing Research Essays. 0.1) If you’ve been asked to arawaks, submit a paper in MLA style, your instructor is asking you to format the page and present the content in a specific way. Just as football referees dress a certain way, and tina bruce Japanese chefs cook a certain way, writers in certain disciplines follow a certain set of conventions. Arawaks. This document will show you how to format an essay in MLA style. 0.2) If, instead of questions about putting the final formatting touches on your essay, you have questions about Essay Love in Pride, what to write, see instead my handouts on writing a short research paper, coming up with a good thesis statement, and using quotations in the caribs the body of giles corey your paper. (no comma between the author and the caribs page number; commas and periods go outside of inline quotes) Works Cited List. (lots of tricky details! sort alphabetically by author, not by the order the quotes appear in your paper)
For the most complete information, check your campus library or writing center for the MLA Handbook for Writers of im unique Research Papers , 8th ed. MLA Style Format (First Page) How to format the and the arawaks Works Cited page of an MLA style paper. Your word processor comes with default settings (margin, line height, paragraph spacing, and typeface) that will likely need adjustment. For MLA style, you need: 1-inch margins all around 2.0 line height (double-space the whole paper, including title block and Works Cited list) no extra spacing after the title, between paragraphs, or between bibliography items 12-point typeface (usually Times New Roman ) 1.1 Adjusting Document Settings in MS-Word (Windows) My copy of Microsoft Word for Windows defaults to. 1-inch margins all around 1.15 line height 10pt spacing between paragraphs Calibri 11-point typeface. Changing to MLA Style (Windows) The default margins in my test run were fine, but if you need to change them: Page Layout - Margins - Normal (1-inch all around) The default line height is too low.
Change it to 2.0. CTRL-A (select all your text) Home - Line Spacing - Remove Space After Paragraph Change the typeface to Times New Roman 12-point. Home - Font Face Selector (change to Times New Roman) 1.2 Adjusting Document Settings in MS-Word (Mac) My copy of Microsoft Word for Mac defaults to. 1.25 inch left and right margins, 1 inch top and bottom 1.0 line height no extra spacing after paragraphs Cambria 12-point typeface. In my test run, the left and right margins are too big.
To change them: Layout - Margins - Normal (1-inch all around) The default line height is and abraham, too low. Change it to 2.0. Home - Line Spacing - 2.0 My Mac copy of MS-Word does not add extra spaces after paragraphs. If yours does: Don’t add space between paragraphs of the same style (check this box) - OK The 12-point Cambria will probably be fine, but to change the typeface: Home - Font Face Selector (change to Times New Roman) In the top right of every page, use your word processor’s “Page Header” function add an automatic page number and your surname. 2.1 Adding the Page Header in and the MS-Word (Windows) Insert - Page Number - Top of carl and abraham maslow Page - (choose the right-justified “Plain Number” option) The cursor will jump automatically to the right place for you to t ype your surname . Click anywhere in the body of the the caribs arawaks paper to exit the header area.
2.2 Adding the Page Header in MS-Word (Mac) Insert (in the im unique top menu) - Page Numbers… - (Set “Position” to “Top of the caribs arawaks Page (header)” and im unique “Alignment” to the caribs and the, “Right”) Click just to the left of the new page number, and on Unlikely in Pride type your surname . On my test document, my name was too far over to the left; grab the triangular tab adjuster just above your name, and drag it a notch to the right . In the the caribs arawaks upper left corner, type your name, your instructor’s name, the tina bruce theory course number and section, and the caribs and the arawaks today’s date. Centered on the next line, type an informative title that actually informs the reader of your main point (not just “English Paper” or “A Comparison between Hamlet and Macbeth”). Like all the other text in an MLA style paper, the title block is on Unlikely, double-spaced . The Caribs And The Arawaks. The title is in the same font as the rest of the paper — it is not boldface, or enlarged. There is tina, no extra space above or below the title. A truly informative title will include the general topic, and your precise opinion on the caribs and the, that topic. Giles. (So, if you pan to the caribs and the, compare Hamlet and Macbeth, your title should state the unique point you want to make about Hamlet and Macbeth. Reuse part of your thesis statement.) This handout presumes you already know why you should cite your sources (to establish your authority, to on Unlikely Love in Pride and Prejudice, introduce persuasive evidence, to avoid plagiarism, etc.), These instructions focus on how you format the page. (For a resource to help you determine how to arawaks, cite a specific source, see the MLA Bibliography Builder). To fully cite a source requires two stages. The first happens in the body of your paper (the “in-text citation”) and the second happens on a separate page at the end of im unique your paper (see “Works Cited List,” below.) 4.1 Citing a Block Quote (more than three lines)
Long quotes can start to look like filler. Only use a block quote if you have a very good reason to include the and the whole passage. (You can usually make your point with a shorter quote.) If you do have a good reason to quote a passage that is several lines long: Select the Affordable Essay text and click the and the arawaks “ Increase Indent ” icon (see image, right). Place the parenthetical citation (the author’s name and the page number) after the period . (This is different from inline quotes, below.) There is no comma between the author’s name and the page number. If the quotation runs across more than one page: (Wordsworth-Fuller 20-21) or (Wordsworth-Fuller 420-21). Skip wordy introductions such as, “In his informative guide The Amazing Writing Book , published by Elizabeth Mount College in 2010, the noted composition expert Maxwell Wordsworth-Fuller describes the Housing Essay importance of citations in MLA style papers.” Cutting the filler leaves more room to develop your own original ideas. (See “Integrating Quotations.”) 4.2 Citing an Inline Quotation. When the passage you want to quote is less than three lines long, use inline style. Here we have two brief passages, taken from the same page of the and the arawaks same source, so we can handle both with a single parenthetical citation. The parenthetical citation appears outside the quoted material.
The period that ends the sentence comes after the close parenthesis . (This is different from block quotes, above.) In this example, we have changed the first word a little, lowercasing it in order to carl and abraham, fit it into our own sentence. To let the reader know what we changed, we put  around it. Again, note the the caribs and the arawaks absence of theory a full sentence that explains who Wordsworth-Fuller is and where the quote comes from. All that info will be in the Works Cited list, so we leave it out of the body of the paper. Let’s imagine we want to reference Wordsworth-Fuller’s general idea about citation as a way to establish credibility, but we don’t need to include any of the arawaks technical details. We can save space, and make it much easier on our reader, if we paraphrase: Use paraphrasing for and abraham variety, or to make a passing reference without taking up much space. If we use an author’s idea, rephrased in our own words, we must still cite the idea. A research paper isn’t a research paper unless you end with full bibliographical details on every source you cited.
This part can be tedious and tricky; leave yourself plenty of time to do it. Start a new page . MS-Word Wind: Insert - Page Break - New Page. The Caribs. MS-Word Mac: Document Elements - Break - Page. Title your new page: Works Cited. MLA style calls for no extra spaces above or below the page title; no special formatting. 5.1. Corey. How to arawaks, Create an Individual Works Cited Entry.
Exactly what goes into each item in your bibliography depends on what kind of item it is. The following pages give you some questions to tina bruce theory, answer, then let you push a button to get an the caribs and the, individual works-cited entry. If you prefer a more narrative explanation, see Purdue OWL’s handouts for how to create a bibliography entry for a book, an article in a periodical (such as a journal or newspaper), or an bruce, electronic source (such as an email, web page or a YouTube clip). See also this list of other common sources (such as a personal interview or a movie). 5.2. How to Organize Your Works Cited list. Sort the entries alphabetically by the author ‘s last name.
If the author is an organization (such as a government agency or non-profit foundation), alphabetize according to the name of the organization . If you are citing a painting, or a composer, then obviously “author” has to be interpreted a little loosely. Unless your instructor ask you to organize your Works Cited list differently, everything should be alphabetized together, in a single list. MLA does not require that you separate works of different kinds, or that you cite works in the order that they appeared in the caribs your paper, or that you write annotations to go along with each item. Use double-spaced line height. (in my copy of Word, I select the text and choose Format - Paragraph - Line spacing - Double - OK.) Use hanging indent paragraph format. (In my copy of word, I select the text then choose Format - Paragraph - Indentation - Special - Hanging Indent.) 29 May 2011 — new document posted, replacing outdated handout written in tina bruce 1999. 06 Jun 2011 — expanded section on organizing the Works Cited list, since several readers asked for arawaks clarification. 07 Jun 2011 — reorganized for emphasis.
19 Apr 2012 — added numbers to more subheads. 30 Nov 2016 — added annotated Works Cited sample image. If your college instructor wants you to cite every fact or opinion you find in im unique an outside source, how do you make room for your own opinion? Paraphrase, quote selectively, and avoid summary.Dennis G. Jerz. MLA Works Cited Citation Builder. 0 thoughts on “ MLA Format Papers: Step-by-step Tips for Writing Research Essays ” I think you should add an explanation about page numbers. That was what I was looking for, but I couldn’t find the the caribs and the arawaks significant area. Section 2 explains how to put page numbers in court oath the header, and section 4 discusses page numbers in citations. How do you in and the arawaks text cite a website? I didnt really see much about that.
Very good information, I really needed this incite on research paper formats. Court Oath. It has such thorough details and the caribs that make it so much easier to understand. when you say page numbers (Wordworth-Fuller 20), are you referring to the page number within the MLA document or the page number the im unique text appears on within the and the arawaks authors works? That means the quote is from page 20 of the book or article written by im unique, Wordsworth-Fuller. Thank you for valuable information.
Before my college year in America I didn’t know what MLA Format was, but with this delicate information I will survive my college year. Thank you for useful information about arawaks, how to write MLA format essay. Before my college year I didn’t know there were many different forms of essay. When my professor asked me to write MLA format I had no idea how to tina bruce, write it, but with your delicate information I think I will survive my college year. And The Arawaks. Thank you again. I’m glad to Green Affordable Essay, know you found this page helpful.
Most instructors will be happy to help if you stop by during their office hours, and if your prof is too busy for and the that most universities will have a writing center where you can get help at any stage of any assignment involving writing. With your delicate information about to in Pride, write MLA format essay in right way will lead me to the caribs arawaks, successful college year. when you say page numbers (Wordworth-Fuller 20), are you referring to the page number within the MLA document or the page number the text appears on bruce, within the authors works? In this case, your paper would be referring to the caribs and the, something you found on page 20 of the text by Wordsworth-Fuller. i think you should add an court oath, explanation about page header. that was what i was looking for. Is the and the arawaks Table of corey Contents double spaced – MLA? “@pretti_slimm: @Thyler_Jonzy http://t.co/QIf00vlgws try this site looks helpful”I just found a sample paper on Google. Im in middle school and I have to do this. I have never heard of arawaks MLA Format and this helped ALOT. Thanks so much!
Hopefully I get a good grade on this paper! I really find this useful (especially fudging the Affordable Housing Essay line spacing to 2.1). Good job! Can you put what information is supposed to be in each paragraph. Emma, I’m afraid I don’t understand the question.
I feel like you’ve asked me what emotions are supposed to be in the caribs and the each verse of a song, or what colors are supposed to be in Essay on Unlikely Love in Pride and Prejudice a painting. The Caribs. There are many different kinds of songs and paintings, created for court oath different reasons; likewise, there are many different kinds of paragraphs, written for and the different reasons. that was beautiful. I am writing to request permission to link your webpage, “MLA Format Papers: Step-by-step Instructions for Writing Research Essays” to our website. Lansdale School of giles corey quotes Business. I am glad you found this page helpful. The Caribs Arawaks. Yes, you are welcome to include a link and a brief extract. Thank you so much!! I love the Bib builder!!
I’m glad to hear you found it helpful! RT @DennisJerz: MLA Format Papers: Step-by-step Instructions for Writing Research Essays #mlastyle http://t.co/B6pGb3Pkeh. How do you add footnotes to an MLA style paper? Most word processors will have an Insert - Footnote or Insert - Note (footnote or endnote) option. Most short college papers don’t need footnotes. (They aren’t for documenting sources — use an bruce theory, in-text citation and a Works Cited list instead.) I suggest you talk to your instructor about whether you really do need to use a footnote.
When using MLA format, do you list the book title, the title of the article or both? For guidance on the caribs arawaks, citing individual sources, see the link in Affordable item 4, above. This page is about formatting the the caribs arawaks paper once you’ve already written it. I wrote a paper and it looks just like your example. I followed everything to the “t” and im unique my professor says that my header is indented and my paragraphs are double indented and the page numbers are in wrong format. What can I do? Winston, I suggest you talk to and the, your professor. Tina. I have been teaching from thiis handout for years, and when a student makes a formatting error on a rough draft, I just ask them to fix it for the revision. The Caribs And The Arawaks. But your instructor is the one who designed the assignment and bruce who evaluates your submissions, so he or she is the the caribs person to approach with questions. I agree. .let me ask you this. Are your headers indented?
The screenshot was taken from a page that I created following the instructions for using MS-Word with a MacBook Pro. Corey Quotes. I followed the instructions that are on the page. But surely your instructor gave you guidelines, in a handout or an assigned textbook, which is why I encourage you to have this conversation with your instructor. Whether your instructor does or does not agree with the the caribs arawaks information on this page really doesn’t matter, since your instructor created the assignment and evaluates it according to his or her own criteria. I suggest you let your your teacher know you are confused about what you did wrong, and ask for an opportunity to and Prejudice, make minor formatting changes to a paper that, we hope, met all the the caribs and the arawaks major criteria. We get asked often about what “format” the college application essay should be in.
Although not generally… http://t.co/v1TTNxtE4e. seems easy enough. Dennis, what lends itself to science in court oath the APA system? And what lends itself to the Humanities with the MLA? TIA. As compared to MLA papers, APA papers tend to be shorter, and divided up into sections. Authors who use APA style tend to the caribs arawaks, publish more frequently, because their knowledge goes out of date more quickly; so the date is prominent in APA citations, and page numbers are rare. By contrast, people who use MLA style tend to write longer essays that aren’t divided up into standard sections like “procedure” and “conclusions.” Humanities scholarship generally doesn’t go out of date quickly. Instead of court oath conducting experiments, humanists read and arawaks write a lot of longer essays and books, re-interpreting and quoting passages from im unique, them. MLA style makes the page numbers prominent, so that other scholars can easily find and re-read those same passages for themselves, and further the work of scholarship as it is conducted in the humanities. Thanks for the reply.
What do you mean by arawaks, ” MLA style tend to write longer essays that aren’t divided up into standard sections like “procedure” and Essay Love “conclusions.”? Are we not suppose to the caribs arawaks, use conclusions in corey MLA format? In my English class, we use MLA with conclusions, but what do you mean by the caribs and the, “procedure” and “conclusions”? I understand each instructor is different but is im unique, it right to arawaks, use conclusions in an MLA paper…or am I getting confused? Typically papers written in MLA style DO have a conclusion, but it would not be set off in corey quotes a separate section under the subheading “Conclusion.” MLA papers tend NOT to follow a standard, particular structure. The Caribs And The Arawaks. Papers written in the sciences DO have a fairly rigid set of Green Affordable Essay sections, with separate subheadings. But it’s best for and the arawaks you to and abraham, talk to your teacher about the the caribs specifics of any asisgnment. Ok, thanks.
I just wanted to ask and clarify it. Also, doesn’t the word “humanist” means something else entirely? The Humanist term today implies ‘human’ and is often used for tina atheists, for arawaks example… or am I wrong? I used the Love in Pride and Prejudice term “humanist” to mean “a person who studies the culture of humans,” without intending the more specific meaning you mention. And The. At my school, the tina humanities division includes theologians.
this was very helpful i got an A 95 percent. hi my name is Jessie i have to the caribs and the, writ a 2 pages Essay about MLA can someone help me. thank u i got an tina theory, A 97 percent. u a real nigga dennis. This wasn’t helpful at all. Shavez, what were you looking for?
This page is about formatting a paper you have already written. The Caribs. The first section includes links to pages about how to Green Affordable Housing, write essays. Thank you very much for this useful information. As a freshman in and the highschool, my biology teacher asked for me to write an essay in mLA format about evolution. I had no clue what mLA format was,so I searched it up and it brought me here. In middle school I never wrote an essay in im unique this format before,but I feel very confident to type my first mLA essay and I’m excited to do so! (Right after I finish my draft .) thank you very much! (???)?
I’m using a book title and author as my paper heading. How is that formatted? I would tell my own students that a book title and the caribs arawaks the name of an author is not a good paper title, and I would ask them to Affordable Housing Essay, write a title that catches the reader’s attention, identifies the topic, and identifies what position the paper is going to take on the topic. And The Arawaks. But if you are not my student, then I’m not the on Unlikely in Pride and Prejudice person who will be evaluating your paper. MLA style puts the book title in italics. Other than that, I really don’t have any advice for you.
Very informative. It helped introduce my tired old mind to the MLA format. So, I can better help coach and prepare my wife for her English course. Thank you very much. which writing style (MLA, APA) have more importance for the caribs and the arawaks students of social sciences, media sciences and business? I think you should include online resource citation instructions. Click on “Citing” at the top of the page.
One of the options on the other end of that link is how to cite a web page. This article..thing is the only reason I am passing my online college class. Especially the citation builder. Im Unique. Thank you! cool it was helpful.
is the arawaks text or what you wrote supposed to be centered in the page or to the left margin. How do I cite a photo that I found online? Is it a historical photograph or a photograph published in a book that someone scanned and posted on carl and abraham maslow, line, is it a photograph of something like a sculpture? Is your paper focused on the work of the photographer, the makeup artist who prepared the model, the digital image enhancer who altered the the caribs image, the model? There is no single correct way to cite a photograph, because there are many different reasons to cite a photograph. Your instructor would be able to carl rogers, give you more specific advice. The Caribs. In general, though, the carl maslow 8th edition of the the caribs arawaks MLA guide would say something like this: Olsen, Jimmy. “Superman Rescues Boy Scouts from Lava Pit.” Photograph. The Daily Planet . July 22, 1956.
If you found the picture on a blog or a Flickr gallery, adjust the im unique citation accordingly. If you found the image as the result of a Google search for something, you might very well end up finding a page that re-uses someone else’s picture without appropriately giving credit. There are many variables. The Caribs And The Arawaks. Talk to im unique, your instructor, who will be the one grading your work, and the caribs and the will therefore be the right person to advise you on Green Housing, what to do. hahahah xD me too same. I would Like You To Give Simple Instructions Not Complicated Ones , and Include also how much Papers Should be worked on. Khalid, if there is any particular detail you are confused about, please let me know what question you have and perhaps I can help. There is no specific answer to how much a paper should be worked on. Arawaks. It depends on what grade you want to earn, how much time you have, whether your instructor is im unique, willing to meet with you before the due date, whether your instructor will give you the chance to revise your work, and the caribs arawaks many other factors.
This article..thing is the giles corey quotes only reason I am passing my online college class. Especially the citation builder. Thank you!
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Chapter 1: Executive Summary: The executive summary provides investors with a general layout of your company. This chapter is essentially your hook to im unique, convince potential financiers that your model is worthy of their investment. Chapter 2: Company and Financing: In this chapter, the goal is to the caribs and the arawaks, outline the legal and operational structure of corey quotes your company, financing requirements, the history behind the company, mission statement and the management team. If you are forming a corporation, be sure to include your Articles of Incorporation here. And The. Chapter 3: Products and Services: This section describes what products and/or services your business will sell (now and in giles quotes, the future), and how you will build, assemble and deliver them. It also offers a comparison of the caribs and the arawaks your company and your direct and im unique indirect competitors. Arawaks. Chapter 4: Customers and Market Analysis: The customers and market analysis page indicates your target customer segments, what needs you are filling for corey them , and the latest trends among these consumers in terms of and the growth and behavior. Im Unique. Chapter 5: Marketing and the caribs Sales: The marketing and sales chapter allows you to tina bruce theory, describe how you will sell your product/service.
Particularly what are your company’s strategies for the caribs arawaks positioning, pricing, promotion and distribution. Chapter 6: Strategy and Implementation: This chapter will give you an Green opportunity to set the key milestones that help establish a timeline of progress towards your goals. Additionally, it includes subsections like SWOT analysis, competitive edge, and strategic alliances. And The. Chapters 7 + 8: Financial Plan, Sales Forecast, Financial Statements: In the final two chapters, entrepreneurs must define and calculate the financial variables that will go into the creation/expansion of your idea, including its expenses, your anticipated sales forecast, personnel plan, cash flow assumptions, and more. If you are purchasing an existing company, you should also include the business purchase agreement in your plan. What’s included in the template with sample text: In the second download, we give you a completed ice cream shop plan to reference. Each section gives an tina bruce example of what you should write.
Our guide also includes example graphs and charts, so that you are aware of the types of financial calculations, plans, and forecasts that a plan should offer to attract investment. For guidance on what you should include in your plan, and and the why, please reference our How to Write a Business Plan set of articles below. Downloading this small business plan comes at no cost, so feel free to start your download and get started. However, you should be aware that there are some pros and cons to using free business templates, rather than using professional software or an experienced writer. Writing a business plan is a prerequisite to your company’s success.
A solid plan is necessary to help found your company and Green Essay ensure that your goals remain on the caribs arawaks track over time. Your plan can and will change as you encounter the im unique unpredictable variables that come with starting your own company. Arawaks. If you have an existing company, crafting a solid plan is equally important if you’re hoping to attract investment and expand your company beyond the limits you’ve already reached. Your business strategy should account for the next 3-5 years in advance, and cover every aspect of on Unlikely Love and Prejudice your industry, including the critical relation between marketing and sales to your company’s finances. Your plan should include the following sections before you submit it to investors. Click each accordion to read a how-to guide for each chapter: “How to Write a Business Plan” Table of Contents: How to arawaks, Write the Executive Summary. The executive summary contains all of the essential information about what makes your business strong and worthy of investment . It covers the major highlights of the rest of your plan’s chapters.
The goal is to briefly tell your reader what your company will do, where you want to take it, and why your business idea will be successful. If you are seeking financing, the executive summary is your first opportunity to bruce theory, grab a potential investor’s interest. The executive summary will be the first chapter of your business plan, though it’s actually the last section that you should write . The Caribs. First, you’ll need to do heavy research to ensure that your plan is sound before you can write the in Pride and Prejudice executive summary. This section will be different depending on and the if you are an established business or a new startup. A startup company’s executive summary will need to be interesting and convincing to capture the attention of Housing investors. Your company will lack the historical data and trends that existing companies are able to provide, but there are strategies to mitigate these factors. First, you’ll need to briefly explain who you are, the background of your management team, and your reasoning behind starting a business in your chosen niche.
Secondly, you’ll need to the caribs and the, demonstrate that you’ve done quality research that supports how you’ve conceptualized your business. Investors know that talk is cheap – do you have the court oath data and the caribs arawaks analysis to back up your claims? Even in a standard plan, the executive summary for an existing business has no set template, although there are several suggested guidelines that you can find around the web. We suggest the following basic template – feel free to add or subtract sections according to your own needs: Summary Management Team Products and giles corey quotes Services Customers Marketing and Sales Financial Forecast Financing Requirements (optional) Describe the purpose of the plan (e.g.; to raise a specific amount of debt financing to expand a store location) as well an overview of the company (name, location, company type, products sold, founder(s) and founding date). Describe the the caribs and the arawaks key milestones or objectives that you want to achieve with this business (these are the tangible results in which you use to prove success of the carl and abraham venture). This statement should be concise and to the point.
Summarize the members of the management team, including highlights of the caribs and the their expertise and experience . Describe how each member contributes to the success of the and abraham maslow organization. Keep this section brief, as you will go into more detail in the Products and Services section. Products and Services. Describe the products and services you are providing and who the competitors are within the industry . Keep this section brief, as you will go into more detail in the Products and Services section. Describe whom your customer groups are and whom your key customers are , as well as how you will market to the caribs arawaks, them. Keep this section brief, as you will go into tina theory, more detail in the Market section. Describe briefly how you will market your product or service. Summarize the major points in arawaks, the Marketing and Sales chapter, which may include market positioning, pricing, promotion, and distribution. Summarize the most important points from the Financial Plan section here.
This should include your sales forecasts and projected expenses as well as the logic behind the projections. If you are a new company, describe when you expect to court oath, turn a profit . If you are an existing company, highlight past financial performance. 7. Financing Requirements (Optional) Summarize the amount of equity and/or debt financing that you are seeking, when you need it, the use of the funds, and when you expect to reach your next milestone event and/or start paying back the loan. The Caribs. Keep this at quotes an overview level , as you will go into more detail later on in other chapters. Note: This is a complex question that you cannot answer until you complete your plan, so it is highly recommended you work your way through the entire writing process first . In particular, complete the financial planning process before attacking this section.
Only then will you be able to the caribs arawaks, identify the amount of Essay money you will need to raise. With these sections fleshed out, you’ve finished your executive summary. How to the caribs, Write the Company and Financing Chapter. The company and finance section of im unique your plan is important, because introducing the management team is critical for both start-ups and established companies alike. Investors will use this information to gauge the future likelihood of success. Company and Financing Sections. Company Overview Management Team Required Funds (optional) Exit Strategy (optional) Mission Statement (optional) Company History (optional) Location and and the arawaks Facilities (optional) There are many variations and quotes approaches on and the arawaks how to lay out the various components of a business plan. Court Oath. Our approach for the company overview section is to provide the reader with the company’s legal information, address and a brief description of the and the arawaks company’s history. Since there are follow up sections in giles quotes, this chapter that over go the company’s location and history in more detail, you will want to the caribs and the, keep this short (2-3 sentences). A BRIEF PRIMER ON COMPANY TYPES.
The optimal company type is best determined by a credible Attorney. Affordable. The primer below is meant only to explain the broad differences between the and the most common company types. A sole proprietorship, according to the IRS: “A sole proprietor is carl and abraham maslow someone who owns an unincorporated business by arawaks, him or herself.” While the most simple to set up and the most common, there is a significant drawback: you will be personally liable for any obligations. So for example, if you sell someone a cupcake and they sue you because they found a hair in it, and you lose in court, the creditors can legally go after your personal possessions – such as the roof over your head. A partnership, according to carl and abraham, the IRS: “A partnership is the the caribs relationship existing between two or more persons who join to im unique, carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the caribs arawaks, the profits and losses of the carl rogers and abraham maslow company.”
A partnership has certain advantages compared to a LLC, such as not needing to file formation documents when setting up a partnership, and not needing to and the, file dissolution documents if dissolving the partnership. Court Oath. However, similar to arawaks, sole proprietorships, partners in a partnership have unlimited liability for carl and abraham maslow the company’s debts and liabilities. Limited Liability Partnerships (LLPs) LLPs are different from traditional partnerships in arawaks, that there are two classes of partners: (1) General partners that have full management and control but also full personal liability and (2) Limited partners that have no personal liability beyond their investment in the partnership interest. Limited partners are often times “silent partners” that wish to invest in theory, the venture but limit their exposure to liability. A corporation is a separate legal entity owned by shareholders. A corporation is commonplace for businesses that anticipate seeking venture capital financing. The downside to a corporation is the problem of the caribs “double taxation” since the corporation’s profits is tina bruce theory taxed at the corporate level, and then any dividends distributed to shareholders are then taxed again at the personal level. You can elect a special tax status with the the caribs IRS to have your corporation not be taxed at the corporate level (instead, it would be taxed as a pass-through entity).
Some of the drawbacks include not being able to have more than 100 shareholders , and not being able to have non-US citizens/residents. A popular choice among many small businesses , a LLC limits the member’s personal liability and only taxes profits at the individual level (acts as a pass-through entity). Describe the type of company you plan to open, along with the registered name you plan to use. Explain your rationale – for example, if you are starting a company where you plan on seeking venture capital financing, then you will want to start a C-Corporation as majority of Essay on Unlikely in Pride and Prejudice VCs will insist on this legal structure. If you have a home office/no dedicated business address. Include your current office setup and your future office plans once your company expands, if applicable. For start-ups, and and the arawaks especially those seeking financing, the Management Team section is especially critical. With the lack of history, there is little investors can go by to gauge the tina bruce theory future success of the caribs arawaks a venture.
The question lenders and Essay Love and Prejudice investors will ask: Why should we trust your team with our money? You must demonstrate your team’s ability to execute on the stated goals. To accomplish this, you should highlight: Background of each member of the management team (education, relevant work experience, etc.) Roles and responsibilities within the and the arawaks company. Tip: Don’t include details about members of the Management Team that are not relevant to the reader. Everything presented should reinforce why your team is the right team to execute on the company’s vision. If you have an established business the in Pride information you want to present is the same. Keep in the caribs and the arawaks, mind, however, that you also want to on Unlikely Love in Pride and Prejudice, demonstrate that your team has the capability to manage growth of the company. As a company grows from start-up to established business, the management team must also change.
They must be able to manage employees, institute standardized systems, and the caribs and the arawaks ensure the business’s ability to scale operations while keeping profitability stable. If you already have a Board of Directors and/or Advisory Board, list these individuals and a brief description. In a publically trading company the Board of Directors is elected by the shareholders and is the highest authority in the management of the company. For our purposes (context of a private company that is theory most likely a startup or small but growing business), a Board of Directors is comprised of investor(s), founder(s), CEO and and the arawaks independent board member(s) who have substantial business and industry experience. A Board of Director’s typical responsibility is to set broad policies for the company, determine compensation for company management, and im unique approve annual budgets. An advisory board is a group of business leaders that can help guide your company and provides it with assistance when needed.
Choose individuals with knowledge in your industry and are willing to play a role in your company . While some advisors are compensated, it comes down to a case-by-case basis, frequently depending on how much time the member is committed to your company. Tips on building your Advisory Board: Choose a well-respected and well-known individual as the first member of your Advisory Board. And The. This will help you to recruit other members of the Board. Choose individuals that have strengths and relationships your business will need. As your business evolves, so will the members of your Advisory Board. Feel free to carl rogers and abraham, shake up the line up over time.
In this section you will tell the arawaks reader how much money you need to carl rogers, raise, what you are going to use it for, and how you got to the requested amount. Important note: This is a complex question that you cannot answer until you complete your plan, so it is the caribs highly recommended you work your way through the entire writing process and in particular, complete the financial planning process. In Pride And Prejudice. Only then will you be able to identify the amount of money you will need to raise. There are two primary financing options: equity and debt. The primary difference between equity and the caribs and the arawaks debt financing is that debt financing is essentially a loan that is backed by your assets or via a personal guarantee. If your company is already in existence and has trading history, then you may also secure a loan off of your receivables.
In contrast, equity financing is essentially you exchanging a stake in your company for a specific sum of money from an investor . Therefore, the carl and abraham maslow amount you are able to raise from investors comes down to how much they value your company. There are three fundamental questions every savvy investor will ask you: Cool idea, how do you make money with it? How much money do you need, and why and when? What do you think your company is worth? If you are seeking financing (regardless of its equity or debt), that most likely means that your financial model shows your company taking a loss in the initial stages, followed by break-even and subsequent profitability.
The money you are seeking to raise will simply allow you to have enough cash to the caribs, cover the initial period where you will be taking a loss so that you can eventually make a profit. This is a simplification; you may be raising money to further grow your company, which may already be profitable. Or you might use the financing to get your product to the next stage in its product development lifecycle (i.e.; milestone event). Court Oath. But the general concept is the same; the investment you are seeking bolsters your company’s cash position , allowing it to grow revenue and/or profitability. Cool idea, how do you make money with it? / How much money do you need, and the caribs and the why and when? The financial statements provide the giles corey quotes answer to the first two questions (which is and the arawaks why we recommend you complete your plan first). Rogers Maslow. To answer how much money you need, analyze the and the arawaks cash flow statement to determine the im unique cumulative cash flow. And The. The lowest point on this curve will tell you what your maximum financing needs are , and at what point in time. What do you think your company is worth?
The third question is much harder to answer, especially for a new company. At the bruce end of the day it really comes down to what an investor thinks your company is worth (which is the caribs arawaks more art than science). However, there are three popular methods of valuing a company that can help you come up with a valuation to facilitate the negotiation. Cost approach (asset based approach) The cost approach seeks to court oath, determine a company’s value by the caribs and the, analyzing the market value of its assets. In other words, in this approach the company is worth the sum of all its assets if they were to on Unlikely Love, be liquidated . This approach may be appropriate for some industries such as real estate where the asset value may actually be worth more than the and the going concern value (present value of future cash flows generated by the asset). However, for many companies the value of carl and abraham its branding and the caribs arawaks reputation, along with its ability to generate profits, will exceed the value of its assets. The market approach seeks to determine a company’s value by analyzing recent sales of similar assets, with the theory that valuations of similar companies can serve as a good proxy. This is court oath a common approach in the real estate industry. The income approach seeks to determine a company’s value by using its expected profit over time and then placing a value on and the arawaks that future stream of income in today’s terms . Since there is Affordable Housing Essay inherent uncertainty with a future stream of the caribs and the income, there are numerous ways to Green Housing Essay, discount that expected income to account for risk.
Now you have all the pieces to complete the equation. You have the amount of the caribs and the arawaks money you need by Green Housing Essay, looking at the caribs arawaks cumulative cash flow. You also have an idea of rogers how much money your company will be worth. Equation to determine how much equity you should offer: Equity to offer = Company Valuation / Money needed. If raising debt, you are not exchanging equity for cash. Instead, you should focus on the loan’s interest rate and payment schedule.
Make sure you will be turning a profit that is both large enough and soon enough to ensure there is no delinquency on servicing the loan. For equity financing, answer the following: Investment amount needed When you need it How much time it will buy you / When you expect to turn a profit or get to the next milestone event % of equity offered and at what company valuation (you may wish to keep exact figures vague in the caribs, order to on Unlikely, further negotiate) Exit strategy. For debt financing, answer the following: Loan amount needed When you need it When you will be able to pay back the loan The amount and frequency of loan payments. In addition to and the, the information above, you should also summarize how you plan to use the funds. The level of theory detail should be at a high level ; if the investor or lender wants to see expenses in more detail that will be available in the Appendix within the Profit/Loss statement. Construction of new kitchen: Kitchen remodeling, March 1, 2014, $25,000 Kitchen hardware, April 1, 2014, $50,000 Total Loan Amount: $75,000. If based on arawaks your financial model you anticipate relatively small yet variable expenses month to month, a line of credit may be a good choice.
With a line of credit you draw upon it when you require the bruce funds and pay interest immediately on and the the money as it is borrowed. It works very similarly to carl rogers, a credit card in that you typically have a pre-set limit to how much you can borrow, the major exception that since you may be able to secure the arawaks line of credit with assets, you may be able to get better terms. In the Quick Start Guide we briefly went over the different strategies available and bruce how thinking about your company’s eventual exit will help shape your business model. It’s recommended you review the Quick Start guide and practice that exercise. Depending on your company, there are various exit strategies available, including: Selling your business Passing it down through the and the family Taking the company public (IPO) Liquidation. If you are seeking equity financing, then your investors will pay close attention to this section. Angel investors and VCs demand a large return on im unique their investment since they are taking a large risk by investing into your company.
Therefore, you need to include detailed information on how you intend to sell the company or take it public. Demonstrating a large market opportunity. If investors are going to take a big risk, they demand a big return. You need to demonstrate your business has the potential to and the arawaks, either take substantial market share from an incumbent competitor, or create a new market. Investors like to be in hot, growing industries such as biotechnology, mobile e-commerce and healthcare. These are all industries that have huge upside growth potential and ones that investors are more inclined to rogers and abraham maslow, invest in. Solving a larger company’s problem. If your exit strategy is to sell your company to a larger company, then identify how your company’s product solves that larger company’s stated problems and/or goals.
For example, Apple’s mapping software is playing catch-up to and the arawaks, Google Maps. If your company can help Apple improve its software, your company would become an attractive acquisition target. The mission statement reflects the core purpose and vision of the Essay on Unlikely in Pride and Prejudice company. It’s a statement your employees and the caribs arawaks customers can get behind. Some tips on writing a well-crafted mission statement: Keep it short.
1-2 sentences max. Don’t use “fluff” words. Court Oath. Make the the caribs statement mean something. A mission statement, if done well, should encapsulate both what the company does (what it sells) as well as the culture/vision/purpose. Examples of Fortune 500 firms that really get it right: A. BRISTOL-MYERS SQUIBB COMPANY (PHARMACEUTICALS) Mission Statement: “To discover, develop and deliver innovative medicines that help patients prevail over serious diseases.” Why it’s great: The keywords “discover, develop and deliver” demonstrate the company’s capability to in delivering an end-to-end solution.
By using the words “innovate” and “prevail over on Unlikely in Pride, serious diseases” it serves as a rallying call for their thousands of the caribs and the arawaks employees that what they are doing is (1) cutting edge and (2) has a higher purpose then themselves. Mission statement: “ We will be the in Pride easiest pharmacy retailer for customers to use.” Why it’s great: In one short sentence, the company has managed to (1) describe what it sells (2) how it will win in the marketplace. It is a pharmacy retailer and it will solely focus on making itself easier for the customer to use (that could mean so many things, such as innovating online to the caribs and the arawaks, fulfill prescriptions to improved customer service within their stores). Example of poorly written mission statements. A. FORTUNE 500 FOOD AND BEVERAGE COMPANY. Mission statement: “ The Company’s primary objective is to maximize long-term stockholder value, while adhering to the laws of the im unique jurisdictions in which it operates and at all times observing the highest ethical standards.” Why it’s horrible: It does not serve as a rallying call for employees, suppliers, or partners. Its objectives are obvious (what company does not want to maximize value) and and the borderline absurd (are there companies that do not want to adhere to local and federal laws)?
Lastly, it does not mention what the company actually does. B. FORTUNE 500 VEHICLE PARTS SUPPLIER. Mission Statement: “ We are committed to im unique, attracting, developing, and and the arawaks keeping a diverse work force that reflects the im unique nature of our global business.” Why its horrible: While a diverse workforce is certainly not a bad thing, only stating that as the the caribs arawaks company’s mission statement is ineffective, lacks direction or focus, and completely misses the point of Green Essay having a mission statement. This is predominately for businesses that have previous trading history, but can also be used by new companies that want to highlight relevant history on how the company came to existence, work completed to the caribs and the arawaks, date, milestones achieved, etc. Some information you may want to include: Start date First location First product/service Significant milestones/events. Reminder: keep in mind that there is no set rule as to court oath, the level of detail you want to include. This is dictated by the relevancy of the information to the reader and how this information helps strengthen your plan’s ability to build credibility for your company.
Every company is made of milestones. Milestones for a business are achievements that demonstrate the business is on the right track. They are best when quantifiable and measureable. For example, achieving a working prototype of the caribs and the arawaks your product, or getting to break-even, are both huge milestones that showcase your ability to execute and reduces subsequent risk of your company. Key concept: The more uncertainty that you can take off from the table, the better valuation you can get for your business. For businesses that have a retail or manufacturing component, this is an im unique important section of the caribs and the your plan. Information you may want to include: Size (e.g.; in sq. Court Oath. ft.) Location/Address Other notable facts, such as equipment at the facility. Location is important for the caribs and the arawaks a large number of retail businesses, whether you are a restaurant or purveyor of consumer products.
If possible, provide statistics about the retail location you have chosen or are planning to choose. Describe the im unique lease terms you are able to secure, and if there are any laws that protect the lessee from unreasonable price increases. You can read a detailed article about what to look for in a lease agreement here. Provide detailed information on the manufacturing facilities. For example, your operation may require a reliable source of electricity and water. Describe how the facility provides the the caribs and the arawaks business with these resources. If the facility is pre-existing equipment or structures that can be leveraged, make mention of that. Location can be an important aspect of your business even if you are not in Housing, retail or manufacturing. For example, you might want to arawaks, open your software company in Silicon Valley as that provides a competitive advantage from an employee recruitment and fundraising perspective. If you operate out of a home office. Describe your future expansion plans, including expected date of expansion.
Upon completing these sections, you will then be finished with the court oath company and financing section of and the arawaks your business plan. Writing the Products and giles corey Services Chapter. The products and the caribs arawaks services chapter of court oath your business plan should be written clearly and descriptively, to help give investors a comprehensive understanding of the the caribs and the bread and butter of your business. Your products and services section should include the Green following sections. Products and Services Chapter Sections. Products and the caribs and the Services Competitors Sourcing and giles corey Fulfillment (optional) Technology (optional) Intellectual Property (optional) Future Products and Services (optional) Your products and services are the lifeblood of the caribs your business – it’s what your customers need, and if you get this right, everything else will follow . Quotes. Commonly referred to as “product lift”, which essentially means getting the secret sauce working.
It means that customers want to buy your product/service, and you are filling a need that was previously not satisfied. Thinking in terms of benefits vs. features. What is the consumer really buying? For example, a person buying a Rolex watch is not only the caribs and the, buying a device to tell time, but the prestige and status that comes with a luxury product. Think about what end benefit your product/service delivers. Of course, the functional aspects of your product/service are also important. Depending on what you are going to Essay and Prejudice, sell, think through the the caribs arawaks features it will provide, packaging, design, branding, quality, and other aspects that help position and/or differentiate it from competing products/services. You may have heard the business adage that acquiring a new customer is indefinitely more expensive then keeping an existing customer. One of the reasons this is giles corey quotes true is the potential to sell additional add-ons, upgrades and the caribs arawaks substitute products/services to existing customers . On Unlikely Love And Prejudice. Think about the caribs arawaks, how you can drive incremental revenue. Whether it’s via subscriptions, repeat business, or annual contracts, you may be providing products/services that generate a recurring revenue stream.
This is a good thing, because (1) your revenue can be more predictable and stable (2) you are maximizing earning potential . Think how you can generate recurring revenue, which is expressed with a metric called Lifetime Value per customer. You will complete the giles corey quotes price you want to set your products/services in the Financial Plan chapter, and we also have a section for and the arawaks you to Green Essay, describe your pricing strategy; however it is advisable to start thinking about how you want to price your products/services. Competitive analysis is an extremely useful tool and the caribs arawaks one that should be revisited often as the competitive landscape changes over time. It starts with competitive analysis. Background (location, history, ownership) Financials (revenue, profitability) Products (product line, services, patents, licenses) Marketing (channels used and budget, pricing, alliances/affiliates) Personnel (headcount, notable executives, compensation, job openings) Market share Strengths, Weaknesses. Tips on how to perform competitive analysis.
The Internet makes this much easier then in days past. Some ideas: Google search using keywords that your customers would use to Essay on Unlikely Love, find you Look up industry association websites Look up directories such as Yahoo or Crunchbase Use Indeed.com to find your competitor’s job openings Competitor’s websites Find your competitor’s management team members on LinkedIn. Not only do you have to worry about current competitors you can see, but you have to be vigilant and arawaks be on the lookout for new entrants. For example, a company that already sells to corey, your customer base may see your industry as a logical next step.
You should consider the and the arawaks likelihood of new entrants high if: The industry sees high margins (its super profitable) There is unmet demand (more customers then suppliers) There are no major barriers to entry (does not take much to start competing) There is future growth potential (such as mobile apps) Much of this is common sense – if you see a market opportunity that no one is bruce theory competing in yet, don’t expect that you will be alone for long. Sourcing is the caribs and the simply the theory process of procuring goods and services from suppliers that are required for your company to make its products or deliver its service. The Caribs And The. Some things to consider when choosing and managing your suppliers:
Cost: This is an obvious one – the im unique lower the price, the the caribs arawaks higher your profit margins will be. Payment terms: The longer you have to pay your suppliers, the more working capital you have on hand. Reliability: You must consider how reliable your suppliers are and im unique what would happen to your ability to operate if they cannot deliver. Scalability: As your business expands, will your suppliers be able to meet your needs? Fulfillment is simply the process of how your company delivers its products/services, from point of sale to the caribs, delivery. There are several popular fulfillment options: Engineer to order: the giles corey product is designed and built to customer specifications (e.g.; large construction projects) Build to order: the product’s design is standardized but manufacture of final product is based off of customer specifications (e.g.; aircraft and yachts) Assemble to order: the product is assembled to the customer’s specifications using pre-fabricated components (e.g.; Chipotles burritos, Dell computers) Make to stock: the product is and the manufactured in quantity based on Green Affordable expected sales of the product (e.g.; retailers)
If you are going to be selling physical products and the caribs expect to court oath, hold inventory, then you should pay very close attention to how you forecast the amount of inventory you need to the caribs arawaks, meet your projected sales. Too little inventory and you may not be able to meet demand. Too much inventory and you tie up all of your cash on Essay Love in Pride excess inventory. Some key points: Have accurate sales forecasts. Use historical sales data if you have it, and make sure you account for seasonality. Have accurate inventory tracking.
Use bar code scanning or equivalent to ensure there are no data entry errors. Utilize inventory management software. The Caribs And The Arawaks. QuickBooks, Sage, and Affordable a plethora of and the arawaks other vendors provide a cloud-based solution for you to on Unlikely Love in Pride and Prejudice, manage and maximize your inventory levels. Technology in today’s business environment is arawaks becoming more and more important and serves as a source of competitive advantage. Take Wal-Mart or FedEx as two examples of companies that provide services (low-cost products and Essay Love and Prejudice shipping), but utilize technology as a critical means of delivering those services. Wal-Mart uses a sophisticated supply chain management IT system to ensure its low prices. The Caribs. FedEx uses technology to optimize delivery routes and times, which enables it to ship to practically every corner of the globe, seamlessly and with very low error rates. Think about how technology plays a part in im unique, your business and arawaks if it is critical to your business operations.
If technology is Affordable critical to the caribs and the, your business operations, then you must think about your disaster preparedness and contingency planning . Giles Corey Quotes. Depending on arawaks your business, you may want to create back-up copies of data and software, routine security checks, and securing physical assets. Theory. What would happen if you lost access to the technology? Think about and the arawaks, alternatives that you could utilize. For example, if you license a piece of giles quotes software and later down the arawaks road decide that the cost is too high, is there a competitor who can license you an alternative? If you have exclusive rights to a technology, either through a patent or through an exclusive license agreement, this is a great competitive advantage and one that you will want to describe in detail. There are two types of intellectual property that may be applicable to a business: industrial property (such as patents and quotes trademarks), and copyright (such as novels and movies). If you have intellectual property that you want to protect, it is advisable that you seek the professional advice of a good Patent/IP Attorney , since this is a great way to provide a barrier to entry for your business. Intellectual property type 1: Industry property.
These include inventions (patents), trademarks and industrial designs (trade secrets, trade dress). If you have any proprietary process or technology then it is recommended that you apply for the caribs a patent to giles corey, protect your invention. You should apply for a trademark for your company name and logo as well. Intellectual property type 2: copyright. These include literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs.
In 2011, counterfeit copyrighted and the caribs and the arawaks trademarked goods were a $600 billion dollar industry worldwide. Enforcing your intellectual property may be feasible from a legal point of view, but many times is not practical in practice. For example, Microsoft cannot possibly prosecute every single instance where its popular operating systems are copied and downloaded. IP and your employees and contractors. It is and abraham just as important to secure your intellectual property in the caribs arawaks, relation to your employees and Essay in Pride contractors. Everyone should be required to sign an and the invention assignment agreement, which basically states that the company owns all works produced while contracted by the company. In addition, you may consider handing out serialized notebooks for theory employees to the caribs arawaks, use , so that if there is ever a conflict as to carl rogers and abraham maslow, whom owns a piece of intellectual property, there is a physical record.
If you have future products and services planned, it is a good idea to the caribs, describe the product roadmap and strategy behind it . Court Oath. A key concept is that of product lifecycle, which describes the stages of the and the arawaks life of a product. During this phase, your product will incur heavy promotional costs as you get the word out. You may discount the price of the product to encourage new customers. During this phase, you may focus on expanding your product to new segments in the marketplace, and expand the carl product line (for example, with new colors or other variations). During this phase, you are enjoying the fruits of your labor. You may add new features to your product to stay competitive and to the caribs arawaks, further differentiate your product from rogers and abraham competitors. Marketing spend for the caribs and the your product starts to dissipate as sales of your product are in steady decline.
After including all of Green Housing this information, you’ll have completed the products and services chapter. Writing the Customers and the caribs and the arawaks Market Analysis Chapter. The customers and market analysis chapter will give you an tina opportunity to describe what your customer segments are, what needs you are filling for them, and and the how these groups of Essay in Pride and Prejudice customers are trending in terms of growth and the caribs arawaks behavior. This chapter also includes any regulatory restrictions specific to your industry. Customers and Market Analysis Sections.
Market Overview Market Needs Market Trends (optional) Market Growth (optional) Industry Analysis (optional) Key Customers (optional) In the market overview section you are going to calculate the total market (referred to giles quotes, as Total Addressable Market) for your products, and then the segment of the caribs that market your business can capture. Total addressable market can be thought of in several distinct levels. At the im unique highest level is an the caribs and the estimate of the total market given 100% saturation. Another way of looking at this is court oath what would be the total market if one company had 100% market share.
Once you have the total addressable market, then you can estimate what percentage of this you can realistically capture. This, of course, is much harder to predict with accuracy. The Caribs. So the carl rogers maslow important thing to remember is to utilize strong sources for the caribs and the your assumptions. For example, lets say you plan to open a high-end steakhouse in downtown Miami. Carl Rogers And Abraham Maslow. To calculate your total addressable market, you might count how many high-end restaurants are in the downtown area and research the average annual sales for each restaurant. Then multiply the two to get the total sales for all high-end restaurants. This would be your total addressable market. Using the example above, we can then drill down to the next level and determine what percentage of the market you can realistically capture. You might assume that you will take an equal share of the market, thereby decreasing all other competitor’s shares in arawaks, the market. Or you might offer cheaper prices, which you assume would take a larger percent of the im unique market.
Whatever your assumption, make sure it is well documented and logical. To obtain jaw-dropping product-lift you must solve a difficult and painful problem for the customer. And if there are competitors, you must solve the and the arawaks problem better than them, and Essay in Pride and Prejudice enough so that customers are willing to switch to your company. Describe what problem your product is solving. If you are targeting multiple customer segments, make sure you go into detail on how your product serves each customer segment.
Describe how your solution better solves customer’s pain points then your competitors. We as consumers are inherently lazy. We do not want to go through the time and cost of switching from one company’s product/services unless it is and the compelling enough, which is dependent on the switching cost. For example, there is virtually no cost to switch from Coke to Pepsi. On the other hand, there is high switching cost associated with migrating from a Mac to a PC. Court Oath. To overcome this problem, describe how your product either is able to overcome customer’s inherent adversity towards switching products, or if your product is able to reach new customers and bypass switching costs altogether (in other words, instead of arawaks taking customers away from your competitors, you are creating a new market for your products). Understanding market trends at Housing the macro level is critical for the caribs and the various aspects of your business. A growing or shrinking market is described in more detail in the market growth section. Below are some of the on Unlikely Love other factors that will affect market trends:
The overall economy has a disproportionate effect on some businesses. For example, dog-walking services usually see a decline in sales as households reduce spending on non-essential purchases. Government regulations and policies can completely alter an industry, so it is imperative that you are up to date on and the arawaks upcoming changes. For example, the Jobs Act of court oath 2012 allowed for the caribs the first time non-accredited investors to participate in private placement of securities. This in turn has created a new market for crowd-funding websites to emerge to connect startups with all types of investors. You may be in an industry where political conditions have an impact on the bottom line. Housing. For example, if you count the Dept. of Defense as one of your clients, then the across-the-board budget cuts (i.e.; Sequestration in the Budget Control Act of 2011) would surely have a negative effect on your business. If you build your business on top of and the a technology platform that will soon be replaced with a more cost affordable, powerful, and easier to quotes, use technology, then that will surely put you in a less advantageous position.
Knowing technology trends is valuable in ensuring you are gaining a competitive advantage through the use of technology. Your customers may change their sensitivity to price depending on a variety of factors, including competition, macroeconomic conditions, and changing consumer tastes. Keeping an eye on this trend will ensure you optimize your pricing strategy. Market growth, mathematically, is simply measuring the change in market size from one time period to arawaks, the next (usually in years). So if the market in the first year was $100 million and $150 million the second year, then the market can be said to have grown by 50%.
You will find that measuring market growth using historical market size data is much easier then forecasting market growth. Utilize publically available data sources, trade publications, market research firms, and government agencies to find much of this research. Being able to demonstrate a market is growing is obviously important – for example, the market for Blackberry accessories is clearly a declining market. Most investors and lenders will not want to see a new business chase after dwindling customers. On the other hand, the market for Apple and Samsung phone accessories have seen great growth and will continue to grow as those companies continue to tina bruce, add new customers. Your industry is defined as the and the group of corey quotes companies that are related to you in terms of what you sell/how you derive your revenue. For example, Ford and Nissan are both in the automotive industry. Ford and Nissan’s market (i.e.; customers) would be the the caribs arawaks end consumers who buy their cars. You will want to describe your industry name/classification (SIC/NAICS Code), which can be found on the Dept. of Labor website.
Understanding your industry’s dynamics is court oath imperative to knowing it’s profit potential and attractiveness. A popular framework for conducting industry analysis is and the Porter’s five forces analysis, which analyzes an court oath industry’s competitiveness (and therefore attractiveness). By performing this analysis you will have a clear picture of and the your competitors and how your company fits within the competitive landscape. If your industry has low barriers to entry and low switching costs, then expect increased competition, as there is little standing in the way for Green Affordable Housing Essay new entrants to and the arawaks, enter the market and compete. If your industry is supplied by very few suppliers with little alternative but to source from those suppliers, then expect downward pressure on your margins. If your industry only has a small number of buyers, or there are many alternative products to corey, choose from, then expect downward pressure on the caribs your margins. If there are many substitute products in your industry and corey the switching costs between them are low, then expect substantial competition.
An industry is very competitive if there are many competitors about the the caribs arawaks same size, there is little differentiation between competitor’s products, and it is mature with little growth (so the only way to grow is to take a competitor’s market share). Although your product may cater to many different sets of customers, you want to focus on a select group that will be the most likely to purchase your product/service and account for the lion’s share of your company’s revenue. For many businesses, you will soon realize that a large portion of your revenue comes from a small percentage of court oath your customers. For example, Starbucks may realize their key customers are white-collar business types that purchase a cup of the caribs coffee every day, versus the student type that comes in once a month. When you can name your key customers. If you are in a business where volumes are low and prices are high, then you should be able to name your key customers individually. Court Oath. In this case, you should describe in detail your relationship with each of them separately.
If you’ve filled out this chapter, congratulations. Doing market research and arawaks customer analysis is a complicated and time consuming task. Bruce Theory. Time to move on to the next chapter! Writing the Marketing and Sales Chapter. The marketing and sales chapter gives you an opportunity to and the, describe how you will manage your sales force and what sales activities they will conduct in order to close sales. Overview Positioning Pricing Promotion Distribution. In this section, summarize your marketing plan, being sure to include:
Positioning: Are you going to be the lowest cost provider or provide a differentiated product? Pricing: How will you price your products/services? Promotion: How will your market your products/services? Distribution: Where will your product/services be available? Tip: It will be easier to write this section after you complete the subsequent sections as the overview section summarizes key findings from the other section. Keep this section at the summary-level, as you will go into further detail in the subsequent sections.
Describe how you position your company within the competitive landscape. Will you compete on price, or will you differentiate your offering and stand out from your peers? For example, Wal-Mart positions itself as the quotes low-cost provider in an industry, while Apple designs premium products to reach the luxury end of the market. Provide your product/service at the cheapest price point in the marketplace. There are three primary ways to the caribs, achieve this: Economies of Scale: For example, being able to im unique, turn more tables in a restaurant or produce more widgets in a factory. The more you are able to produce from your asset, the cheaper it becomes.
It will also be harder for your competitors to enter the market since you have fixed assets and experience that requires a large investment. Low operating costs: Keeping costs down across all aspects of the business, including: Standardization: Limited customization Outsourcing: Outsourcing labor to low cost production centers Thrift: Limiting advertising and RD spend Optimized supply-chain: By lowering inventory and negotiating with suppliers, companies can substantially improve their profitability and the caribs arawaks cash flow. Making your product/service unique by targeting a specific segment of the market is a compelling strategy, especially if: Your customers are not price sensitive The market is competitive Your are targeting a specific niche You can provide a product/service that is not easily copied. You can also achieve differentiation through branding and marketing – for carl rogers maslow example, Starbucks sells premium coffee at a premium price point, primarily through the strength of the caribs their branding and not through the court oath taste of their coffee. Determining the and the arawaks optimal price for your products/services will require you to think through several factors: If you are going shooting for the low cost provider strategy, then you will want to price yourself accordingly.
Likewise, if you are going for the luxury end of the market, then a higher price is often times a proxy for quality. How price sensitive are your customers? If your customers are making their purchase decision primarily based on bruce theory price, then you will want to the caribs and the, be sensitive to this. The price you set must be high enough to over your costs so you can turn a profit. There are, of course, exceptions. Affordable Housing Essay. For example, you might want to achieve economies of scale by maximizing units sold, or you might be maximizing revenue to arawaks, achieve dominant market share.
There may be regulatory/legal constraints on how much you can charge. For example, payday loan vendors are restricted in how much they can charge their customers. Looking at what your competitors charge can give you a understanding of what current customers are accustomed to paying and on Unlikely Love in Pride and Prejudice will likely be willing to the caribs and the, pay for your products/services. There are price points that consumers are psychologically more accustomed to, such as amounts ending in .99 or .95. In this section, you move from Essay Love in Pride describing your marketing plan onto the caribs and the arawaks, how you will convey your marketing message to your intended audience. What marketing channels will you utilize to court oath, reach your target customers? Depending on your business, traditional media may be an important component of your complete marketing toolbox. These would include television, radio, billboards, flyers, etc. In today’s environment few companies can afford not to have a strong online presence.
There are a myriad of options available. Each marketing channel must be carefully measured for and the effectiveness, as online marketing can quickly add up and consume a small business’s entire marketing budget. A website is a key component of your digital marketing efforts as it will be the destination in which your online leads will first visit. Some online marketing options include: Search engines (i.e.; Google, Bing) Directories (Yelp, Angies List) Daily deals (Groupon) Email marketing Social media (Facebook, Twitter)
Word of mouth marketing is by far the court oath most profitable and and the powerful marketing channel available to any business. New customers that are referred to your business are more likely to theory, purchase and more likely to continue referring your company. There are ways to boost word of mouth marketing, especially with the advent of social media. For example, asking a satisfied customer to like your business on Yelp and Facebook will potentially reach hundreds of their contacts, all with one click. Integrating social media into your word of mouth marketing strategy is invaluable for every business. Blogging/Becoming a subject matter expert. Having a leading voice in your industry will help your business gain credibility from customers, suppliers, partners and competitors.
You can start by participating on public forums and blogs related to your business and the caribs and the arawaks adapting the adage “give more to get more”. How will your products be available? On one end of the spectrum is direct marketing, whereby you sell directly to your customers. Or if you manufacture your products, you might sell through distributors, who in bruce theory, turn sell to retailers, who in and the, turn sell to consumers. Tina. Three common models: Product is stocked in mass-market distribution channels. Examples include soft drinks, magazines, etc. Product is specialized and sold through specialized channels. Examples include nautical computers and and the arawaks tooling/machinery. Product is only sold through an exclusive channel. Examples include luxury products such as high-end motorcycles or designer handbags.
The Internet presents an unparalleled opportunity to reach customers directly, as well as working with online channel partners to reach and sell to customers. Writing the Strategy and Implementation Chapter. The strategy and implementation chapter will give you an Essay on Unlikely opportunity to define the and the arawaks key milestones that mark meaningful progress towards your goals. Giles Quotes. It also includes sections that further elaborate on your competitors. Strategy and Implementation Sections. Milestones SWOT Analysis (optional) Competitive Edge (optional) Strategic Alliances (optional)
Milestones are the key events that demonstrate progress is being made , such as completing the company’s first prototype or breaking even. These provide a tangible way to measure the success of the business venture. Milestones are so incredibly important to a business yet are one of those things that can be easily overlooked. And The Arawaks. Why are milestones so important? Because they are a way to measure meaningful progress of a company that in effect, makes that company less risky (and therefore more valuable). A new company has an Love extremely high-risk profile – but as it meets tangible milestones, such as completing a prototype or breaking even, the company’s risk decreases. It becomes more apparent that the venture will succeed. Investors and lenders will be looking at the caribs and the arawaks what milestones your company has reached in order to create a fair valuation. Milestones might include: Assembling company team First working prototype Filing/receiving patent or other IP Securing physical location for store First paying customer Breaking even Turning a profit* *If you can demonstrate not only Green Affordable Housing Essay, turning a profit, but also sustaining that profit, then that is the caribs a huge milestone. SWOT Analysis is a useful technique for understanding your company’s strengths and weaknesses , while identifying both the on Unlikely Love in Pride opportunities open to your business and the threats it faces.
Strengths and Weaknesses refer to internal factors in your company, such as: Employees and arawaks staff Physical assets such as equipment and facilities Financial assets. Opportunities and Threats refer to external factors facing your company, such as: Market trends Regulatory and legal Macroeconomic conditions Competitors. Competitive edge can be bucketed into on Unlikely Love, four primary areas: cost, differentiation, innovation and operational effectiveness. Are you providing a product/service at the caribs arawaks a lower cost then your competitors? This is a straightforward competitive edge that is very difficult to deliver. Giles Corey Quotes. Providing the lowest cost may require operating on razor thin profit margins or heavy investment in fixed costs in order to achieve economies of scale. Are you providing a product/service that your competitors are not offering or cannot offer?
This is a common strategy whereby you provide differentiated value in the caribs and the, order to Essay, better serve customers and/or reach a portion of the market that may be under-served. Are you leapfrogging your competition and the caribs and the arawaks providing a notably superior or new product/service? Popularized by the book “Blue Ocean Strategy”, creating new demand in an uncontested market space is a powerful business strategy. Do you provide superior time to market or customer service? For example, your customers may be willing to im unique, pay a higher price for the caribs and the better customer service . Nordstrom’s is an example of a company that uses superior customer service as a competitive advantage. Forging strategic alliances is court oath a commonplace occurrence in business.
There are a wide variety of alliances you might encounter, with various parties in arawaks, which you do business. Even if you do not have any alliances, there may be an opportunity for court oath a partnership in the future and that should be included in this section. You might have a supplier who has a disproportionate amount of the caribs and the influence and Housing Essay power of your business. Striking a partnership in this case may decrease those risk factors and provide a competitive advantage over your competitors. You might have a large portion of your revenue coming from several key customers. Inking an exclusive agreement to lock in revenue would, for and the arawaks instance, give you predictable cash flow. It is not uncommon to partner with competitors under certain circumstances – for example, to giles corey, set standards for the industry or to help further adoption of the caribs arawaks a technology.
For example, Sony and Panasonic partnered together to giles quotes, increase the the caribs and the adoption of Blu-ray DVDs. Aligning your brand with another company is frequently used, especially if both brands are targeting the rogers maslow same demographic. The Caribs And The. For example, Samsung is the official sponsor of the Olympic games and will provide free mobile phones to im unique, all Olympic athletes. Upon completing these sections, your strategy and implementation chapter will be finished. Writing the Financial Plan, Statements, and the caribs Sales Forecast Chapters. Writing the financial plan, financial statements, and giles corey sales forecast will be the most difficult part of your entire plan.
It requires making a large number of intelligent assumptions about the size of the market you can realistically target, and the costs associated with making your product or rendering your services. These sections are the red meat of your plan — these are the chapters that any seasoned angel investor or venture capitalist will dig into to and the, make sure they know they’re making a solid financial investment. Chapter 7: Financial Plan and Sales Forecast Sections. Sales Forecast Personnel Plan Budget Cash Flow Assumptions Loans and Investments Starting Balances Historical Financials Key Metrics for Success. Define the Housing price in which you will sell your products and services, the cost it will take to produce or sell the product/service, and the number of units you will sell. Be conservative when making your estimates on the number of the caribs units you will sell, ensuring you have a reasonable methodology when making your forecast. It is highly recommended that you first complete the following sections as they lay the Green foundation for defining the sales forecast. Products/Services section: Defines what you will sell and at what price point; also seeks to the caribs and the arawaks, define the production cost Target Market section: Defines the size of carl your target market and what quantities you can sell. Tip: Your sales forecast should sync with your Sales and Marketing plan. For example, if you plan on hiring several sales people nine months from the start of your business, you should forecast an the caribs and the arawaks increase in sales thereafter.
This is the price you will sell your products/services. Fixed price: Suitable for most sales forecast modeling Price changes over time: The price of your product/service may increase/decrease in price over time for Essay and Prejudice several reasons: Keep up with inflation Keep up with increased cost of raw materials or components Seasonal product – discount to offload excess inventory Promote new product – discount upfront to encourage sales, then increase later. This is the direct cost of producing your product/service (at the and the arawaks unit level). Otherwise known as cost of goods sold (COGS). Fixed costs: Suitable for most sales forecast modeling % of sales: A good way to forecast costs; as sales increase you can set the cost as a % of sales on a sliding scale. Im Unique. Costs vary each month: The cost of your product/service may increase/decrease in price over time for the caribs and the arawaks several reasons: Economy of scale: the more units you produce, the cheaper it becomes to produce them Bargaining power: the more units you buy from your supplies, the cheaper they become Seasonality: cost of raw materials may fluctuate based on tina bruce theory time of and the year. This is the expected number of units you will sell.
My units are constant: Not particularly suitable as most businesses will expect to im unique, have some growth over the caribs and the arawaks, time. Units sold changes over time: The quantity sold of your product/service may increase over time for several reasons: Growing market share Finding new markets. Sales tax requirements vary by country and by maslow, products/services sold. In the United States, there is no sales tax at the federal level; however, many states levy selective sales tax on particular goods or services. The Caribs. Check with your state department of tina theory taxation if you are required to collect sales tax. The Caribs. If yes, you collect the sales tax from your customers and then remit the tax to the state each year. If the and Prejudice individual assumptions used for each component of the sales forecast is accurate, so will the overall sales forecast. You should be able to explain where each number comes from, citing studies/research that validates your assumptions. The costs of hiring personnel are often the largest expense of any business. In this section, you will enter forecasted employees and contractors you plan to hire.
The number of personnel you plan to hire and at what time is more of an art then a science. Too much staff too soon and you’ll burn through your working capital. Too few staff and you’ll run the arawaks risk of alienating your customers and partners when you can’t deliver. A good way to think about your personnel plan is to think about the rogers and abraham milestones you want your business to arawaks, accomplish and what personnel are required to get your business there. You can always revise your estimates, so start off with your best estimate and tina bruce theory come back to arawaks, this section later. Tweak as needed so that your business model demonstrates profitability within your target time frame. The type of company you are building and the financing required also makes a big difference in your staffing plan. For example, if you are seeking venture capital that mean you are going to want to on Unlikely in Pride and Prejudice, hire and scale quickly in order to generate large revenues. Conversely, if you are seeking debt financing, you want to operate as lean as possible and maximize profitability so you can service your loans.
Fixed amount: Suitable for most situations. Changes over time: You might want to define a compensation plan for sales personnel that have an and the arawaks annual bonus component, for example. Employee: If choosing employee you will have to consider certain employee taxes and other considerations. Contractor: If selecting contractor, ensure that you are classifying said contractor correctly. In the United States, for example, you are legally required to provide employee-type benefits in certain situations even if you classify the Housing Essay personnel as a contractor. If hiring employees, you will be responsible for additional costs such as (but not limited to) payroll taxes, worker’s compensation and health insurance, paid time off, training and travel expenses, vacation and sick leave, pension contributions and other benefits. This is referred to the burden rate, which provides a truer picture of total labor costs than payroll costs alone. Burden rate only affects employees and not contractors. If unsure what to enter, 15% is a fair estimate. Explain the the caribs and the arawaks assumptions and court oath methodology used to define the personnel your business plans to the caribs arawaks, retain, including how you came up with your compensation figures and burden rate. For example, you might explain that as you plan to hire several sales people to carl and abraham maslow, coincide with the release of a new product.
Enter expenses you plan on the caribs incurring for your business. A good way to im unique, make sure you capture majority of your business’s expenses is to think through costs associated with each functional area of your business, such as product development, marketing and the caribs and the operations. Categorize expense into groups, such legal and administrative, rent and leases, and telecommunications. Do not include fixed asset expenses (assets whereby you derive value from for Affordable Housing Essay more than 12 months) such as a company van or computers. You will enter these in the next step. Advertising Expense Amortization Expense Auto Expense Bad Debt Expense Bank Charges Cash Over and Short Commission Expense Depreciation Expense Employee Benefit Program Freight Expense Gifts Expense Insurance – General Interest Expense Professional Fees License Expense Maintenance Expense Meals and Entertainment Office Expense Payroll Taxes Printing Postage Rent Repairs Expense Salaries Expense Supplies Expense Taxes – FIT Expense Utilities Expense Gain/Loss on Sale of Assets. Enter long-term asset expenses here. Long-term assets are comprised of arawaks two types: tangible and intangible assets.
Fixed assets are tangible assets that provide value for more than 12 months, such as a company van or computers. Fixed assets are depreciated over its useful lifetime. This is an carl maslow accounting method that allows the business to allocate the costs of the and the asset over its life by gradually reducing its value. Common fixed assets: Land and carl rogers and abraham maslow Buildings Motor vehicles Furniture Office equipment Fixtures and fittings Plant and machinery. Intangible assets are long-term assets that are not physical in nature. Intangible assets are amortized over its useful life. These might include:
Intellectual property (items such as patents, trademarks, copyrights, business methodologies) Goodwill Brand recognition. Enter other short-term assets here, which most likely will be any prepaid expense that lasts for the caribs and the less than 12 months. Besides prepaid expenses, other current assets also include short-term investments and securities that are likely to turned into cash within a year. A prepaid expense can be described as such: A 12-month office lease is signed with the total lease amount of $12,000 being paid upfront. Classifying this as a regular expense would not be accurate because then the PL Statement and Cash Flow Statement would both show the $12,000 as a one-time upfront payment on the month it which it was made. Essay On Unlikely. This type of the caribs and the expense is better described as a prepaid expense, since the use of the office is spread out over a 12-month period of time and can be considered an giles corey quotes asset on the Balance Sheet that is expensed over time.
By classifying this as a prepaid expense (or an amortized short term asset) then the PL Statement would show the $12,000 prepaid expense spread across 12 months at the caribs $1,000 each month, while the rogers and abraham Cash Flow Statement would reflect the and the $12,000 payment on month in which it was made. Under Assets, the Balance Sheet would then show the amount of Prepaid Lease that is giles remaining at the end of the accounting period. Enter an estimate for income taxes you expect to pay, which should be a summation of federal, state and local income tax. Do not include other taxes such as property tax (should be entered as a separate expense) or employee-related taxes (this is the caribs and the arawaks covered in the Personnel Section as the Burden Rate). Court Oath. As this is only an estimate, 100% accuracy is not required (if unsure what to enter here, use 20%). Dividends and and the distributions (for corporations and LLCs/partnerships, respectively) are payments to the company’s shareholders/owners, taken from the company’s profit. Dividends are typically paid out at Green Affordable Housing Essay the end of the fiscal year, while distributions can be given out at arawaks the discretion of the quotes owners. The Caribs Arawaks. You may want to set this to zero initially and see how the financials of your business model work out; then you can work backwards and determine how much of retained profit you want to distribute to owners/shareholders. Here you can explain any regular costs that are associated with running your business. What are the monthly or ongoing costs that you must pay to keep the Essay business up and running? For example, this could be paying monthly utilities and rent expenses for arawaks your office space, insurance, or any marketing or advertising costs.
For a start-up, remember that there are always up-front costs or one-time costs associated with getting things started, so be aware of any of these expenses and include them in your budget. Accounts receivable is defined as sales that the company has made but has yet to collect the money from the purchaser. Most companies operate by allowing some portion of their sales to be on credit. These types of sales are usually made to frequent or special customers who are invoiced periodically, and allow them to court oath, avoid the hassle of physically making payments as each transaction occurs. You want your accounts receivable to and the arawaks, be as low as possible to increase your cash flow.
Defining what percentage of your sales will be on Green Affordable Housing Essay credit. You want this percentage to be as low as possible, while keeping in the caribs, mind that for some businesses it is preferential to Love in Pride, provide some credit to your best customers. Defining how long it will take to collect payment. Of the customers that you provide credit to, you need to define when they are to pay you back. The faster, the better your cash flow will look like. It is typical to and the, provide net-30, which is 30 days. Accounts payable is im unique defined as short-term debt owed to suppliers and banks.
It is to your advantage to negotiate longer payment terms with your suppliers, as it will improve your cash flow. When looking at accounts receivable (what is the caribs and the arawaks owed to Housing Essay, you) and accounts payable (what you owe), the the caribs key thing to on Unlikely Love, remember is the caribs arawaks that you want to be paid as soon as possible, and you want to pay others as late as possible (cash on hand is king). Defining what percentage of your purchases will be on credit. You want this percentage to be as high as possible, as that will improve your cash flow. However, ensure you are able to pay your vendors on the purchases made on credit. Defining how long it will take to collect incoming payments. How many days will it take, on average, to collect incoming payments? Select the typical number of days between when you make a credit sale and when the payment arrives. Keep in mind that shortening this period can vastly improve your cash flow. If your business will sell physical products and you plan on keeping inventory on bruce hand, then you need to define how many months of arawaks inventory you wish to keep on hand. The more months of inventory you hold on hand, the more cash is tied up in inventory.
This will affect your cash flow. How much inventory should you carry? The ideal amount varies from corey quotes industry to industry, and the caribs and the business to business. A good place to bruce, find more information is trade associations for your industry. In order to the caribs, improve your company’s inventory management, you will need to start by collecting good records on your inventory.
Using inventory turnover rate as an indicator. Inventory Turnover Rate = Costs of Goods Sold (COGS) / average cost of inventory on hand. A low inventory turnover rate means that you may have too much inventory on hand. Understanding and managing cash flow is very important to giles corey, any business. The time period for credit sales and the caribs and the payments may depend on giles your suppliers or your industry. Paying and getting paid later rather than earlier can entirely change your cash flow projections.
You can utilize this section to explain any assumptions about cash flow, including details on the time period in which you will make and receive payments. How did you come to these assumptions and how will it affect your business? When taking out the caribs arawaks, a loan, you borrow an tina bruce amount of money (principal) from a lender, and are obligated to pay back at and the a later time (usually in installments). You will typically pay interest on the loan. Giles Corey. If you are seeking a loan then enter the the caribs arawaks amount, as you want to forecast the financials assuming you have secured the loan. Personal vs Commercial Loans.
For many small businesses, taking out Green Affordable Essay, a personal loan to finance growth is commonplace. The Caribs. These might include credit cards, home equity line of carl rogers credit (HELOC), and installment loans. If you have an existing small business, commercial loans can be obtained, which are based on the caribs and the arawaks a variety of factors. Secured vs Unsecured Loans. A secured loan is a loan in which you pledge some asset (equipment, property, etc.) as collateral. Unsecured loans (credit cards, personal loans) are not secured against a borrower’s assets. Interest rates will be higher for unsecured loans versus secured loans, for obvious reasons. If you have a pre-existing loan, then you can specify those details in the Starting Balances section.
A line of credit is similar to a loan with the im unique difference being that interest is and the arawaks not charged on the part of the line of credit that is unused, and court oath the borrower can draw on the line of credit at any time that he or she needs to. If you are seeking a line of credit then enter the amount, as you want to the caribs and the, forecast the financials assuming you have secured the bruce line of credit. The line of credit may be classified as a demand loan, which means that any outstanding balance will have to be paid immediately at the financial institution’s request. Investments include injections of cash into the business from you, other shareholders or owners, or investors. This typically refers to equity investments where investors contribute cash to the business in exchange for equity (ownership).
In this section, you can describe how your business will be funded. The Caribs And The. If you are a startup, it is corey quotes likely that the money you make from sales will not cover all your business expenses so you may need additional sources of funding, such as taking out the caribs arawaks, a loan, receiving investors’ capital, credit lines, or other ways of giles quotes borrowing money. What type of funding will you acquire? At what point in your plan are you expecting these funds? For existing businesses only. And The Arawaks. The starting balances will be used to adjust the balance sheet to giles corey, take into account your company’s financial history.
Important: all starting balances should be entered as they are at the caribs and the the start of your plan. Enter starting balances for assets: Cash Accounts Receivable Inventory Other current assets Long term assets Accumulated depreciation. Enter starting balances for liabilities: Enter starting balance for Capital and Earnings: Enter your Recent Sales: One month before start date Two months before start date Three months before start date Four months before start date Five months before start date Six months before start date.
If you are an existing business, you can enter past financial data here. This is optional and will be used to tina bruce theory, calculate historical financial ratios in the Financial Statements section. For each year of your company history , include: $ Sales $ Gross profit $ Income from operations $ Net profit $ Current assets $ Current liabilities $ Inventory $ Total assets $ Total liabilities $ Total owner equity. Every business model has several key metrics that management can use to see if the business is healthy. For example, a restaurant might use the number of arawaks tables it can turn per night and Essay on Unlikely in Pride the average revenue per dinner. Think about what levers make the most impact to and the, your business. Im Unique. You will want to continuously track and monitor these metrics to ensure your business model is working. Chapter 8: Financial Statements Sections.
Profit and Loss Statements Balance Sheet Cash Flow Statement Financial Ratios. The Profit Loss (i.e.; income statement) shows your revenue, expenses, and profit. It is the most common of the three reports as it provides a view into the company’s projected “bottom line”. The statement here is a read-only display, calculated automatically from the information you entered in the Sales Forecast, Budget, and Personnel Plan sections. If you wish to edit or change any information, you may do so by the caribs arawaks, going back to those sections.
The statement here will update automatically. The balance sheet gives a snapshot of your company’s financial position at a given point in time, usually the last day of a fiscal period. It is called a balance sheet because assets (what you own) will always equal the sum of your liabilities (what you owe) and stockholder’s equity (your investments from stockholders plus money that your business earned that is put back into running your business). The balance sheet here is a read-only display. Im Unique. If you wish to change the balance sheet, you can do so by going back to and the arawaks, the builder in Housing Essay, the Financial Plan section. If you are an and the existing business, you have the option of adding starting balances under the Financial Plan section. The cash flow statement displays the cash inflows and outflows from your operating, investing and Green Affordable Essay financing activities. Rather than providing an the caribs arawaks overview like the giles balance sheet, the cash flow statement will measure the change in and the arawaks, cash during a period. In other words, how much money did you start and end up with?
The statement here is a read-only display. You can go back to edit the sections in the Financial Plan section in order to change the accounts affected in the cash flow statement. The Financial Ratios section gives a general overview of the health of im unique your business. The report here is the caribs a read-only display. If you wish to change any of the information, you may do so by Love in Pride and Prejudice, editing the the caribs relevant financial information you’ve entered previously. The ratios here will update automatically. The Liquidity Analysis shows how solvent your company is, or how easily convertible to cash is the company in case.
This is important in determining the tina ability of the business to meet its obligations, or paying off what it owes in debt. The Profitability Analysis shows the overall performance of the company in its ability to make a profit. The ratios show how much of and the arawaks sales revenue is actual profit after taking costs and expenses into account. The Debt Ratio shows how much of the business’s assets are financed by debt and how much of the business’s assets are financed by stockholders’ equity. The Investment Measures show ROI (Return on Investment) which is the percentage of the return (net profit) of the business divided by the cost of the investment. The most common method of calculating ROI is to divide net profit by total assets. Finishing these chapters represents a massive achievement in completing your business plan.
It is by far the most difficult chapter, as it requires doing somewhat complicated math to generate accurate financial statements. In all likelihood, you will need to hire an expert or accountant to help you create an accurate and detailed plan that adheres to realistic outcomes. To finish it off, you’ll need to write an appendix and a glossary of terms. Your appendix will be a more detailed version of the financial statements detailed in this chapter, and your glossary of terms will simply define the tina theory terms of the caribs and the arawaks your business that an investor may not understand. Upon including those chapters, your plan will be complete.
Feeling inspired to Essay, start a business, but don’t know how to write a plan? We have a sample database of plans that you can look through to learn the different chapters and arawaks sections necessary to attract equity investments and loans. Although our examples are specific to each industry, keep in mind that every plan will be unique depending on your location, your customer base, and Affordable Essay your own vision, so these will only serve as a starting point for you and your dream. Click the images to view our full business examples. 4. The Pros and and the arawaks Cons of Downloading a Business Plan Template. 1. Write with confidence — you won’t be forgetting any important information. Using this free template can help you write your own plan, without the hassle of figuring out how to order your chapters, or the worry of feeling like you might be missing a section. We provide the entire bare bones skeleton of court oath a business plan within this Microsoft Word .doc download.
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Making your data attractive and easy to comprehend is and Prejudice no easy task. And The Arawaks. Professional planning software can not only do the calculations for you, but will also turn them into on Unlikely Love in Pride and Prejudice, relevant graphs, charts, and tables presented in the caribs, the appropriate order, according to Green Housing Essay, how equity investors and bank loan officers expect to see them. 3. The Caribs And The Arawaks. A basic template won’t allow you to track your business’ progress. You won’t be able to keep your company’s information up to date easily. One of the major benefits of giles corey using software is that you can continually update your numbers based on the caribs and the your real expenses and giles earnings, allowing you to track the progress of your business easily and the caribs without a major hassle. Nonetheless, we encourage you to download this document and court oath get started with writing out your product/service concepts and marketing plan.
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