Monthly Archives: April 2018

Tips for Write a Business Plan

If you, like many entrepreneurs, are time rich and cash poor, option 1 quickly removes itself from the equation, given the cost of having someone write a plan for you.

You are then faced with the choice between using Business Plan Pro or building everything yourself, from scratch, in Microsoft Word and Excel. Why are we not recommending other business plan software options? Because Business Plan Pro is the best business planning software available – without exception. Palo Alto Software (the maker of Business Plan Pro) has a proud history, has had category leadership for years and has extensive lists of testimonials and independent reviews on the website, all corroborating this view. By all means, consider other software options; however, we are confident that your own analysis will reveal that Business Plan Pro stands head and shoulders above the alternatives.

When it comes to using Word and Excel there are undoubted benefits – not least the fact that they are ‘free’ in the sense that they are bundled on most PCs. The interface is also familiar, given the popularity of their use. However, while these tools are excellent when you know exactly what you need to produce, they offer negligible assistance when it comes to producing specific content, such as that required for a business plan. If the purpose of the business plan were simply to jot down a few notes to keep you on track, they would suffice. However, if you intend to circulate the plan to peers, colleagues or prospective investors, you will need to produce a plan worthy of your name. After all, you are the author!

Here are the reasons why we believe that using Business Plan Pro is the easiest way to write a business plan:

1. Offers significant time saving

Business Plan Pro was designed to help you write a plan as efficiently as possible. It comes with extensive help, lots of examples and expert advice.

2. Provides the structure

Business Plan Pro walks you through a list of specific tasks, step by step, in stark contrast to the blank screen and flashing cursor you face when you create a new document in Microsoft Word.

3. Includes hundreds of examples

Business Plan Pro includes over 500 sample plans so you can browse plenty of examples to help give you ideas.

4. Ensures you do not leave out any sections

Over ten years of history means that we know what sections to include, where they should appear in the document and what you need to put in them.

5. Makes the numbers part easy

We recognise that while compiling the financials is an essential part of any plan, it is a very challenging area. We have simplified this process with the inclusion of easy-to-use financial wizards and automatic calculations, linking together all the financials from Start-up costs to Sales Forecast to Personnel Expenses to Cash Flow to Profit and Loss.

6. Free support available

Alongside the extensive in-product help, we also offer a free support line and a comprehensive help facility on our website.

7. Signposts relevant resources at appropriate points

The software also includes links to relevant local resources where you can read specific advice on any areas with which you need further assistance, including trademarks, company formations, and more.

8. Designed specifically for producing a business plan

Whereas Microsoft Word is a general purpose tool, Business Plan Pro is designed specifically to help you write a business plan with the least amount of hassle.

Business Solutions Ideas

Many SMBs and SOHOs are walking away from their traditional phone companies and moving to the Internet for their telephony needs. In tech jargon, they’re switching from POTS (“plain old telephone service”) to Voice over IP (VoIP, pronounced as one word). Read on to find out what it is, why you should use it, and what to watch out for.

 

VoIP lets you make phone calls over the Internet with a number of advantages over your landline. It gives you low calling rates, especially when making overseas calls; excellent voice quality, rather than the muffled squawk of a traditional phone; and extra features (or easy access to the hard-to-use features you already have).

A phone using VoIP is different from a regular phone; instead of connecting to an analog phone line, it connects to a computer. That computer is usually called a VoIP gateway, and it’s the bridge between the handset and other telephone users.

 

Breaking it Down: VoIP Types

Cloud vs. Local

The gateway connects you to the regular telephone network, or to other VoIP users. Your gateway might be on-site, or it might be a hosted service—“in the cloud”—that you connect to via the Internet.

Running it yourself might be a good option if you have the expertise in-house, but for most people, a service is the simplest and least expensive option.

 

Which System?

Classical VoIP is based on Internet standards like SIP and RTP. The best-known example of a commercial service like this is Vonage; the best-known in-house product is probably the Cisco UCM Suite.

Some newer systems are based on a different standard, called Asterisk. This is a robust, battle-tested system supported by many vendors, including Fonality.

(Normally, you can ignore all this nerdy alphabet soup, but it’s helpful to know which standards your system uses, in case you ever need to know about compatible add-ons.)

No discussion of VoIP software would be complete without mentioning Skype. It’s probably best known as a consumer-focused, free, peer-to-peer service, but the company also offers a service aimed at businesses of all sizes. It’s not just a program you run on your computer; you can also buy dedicated desk phones that work with Skype.

 

Security

One of the advantages of VoIP over regular phone service is the extra security. In the VoIP world, voice scramblers aren’t just the preserve of the military.

It’s similar to working with a secure website, such as your bank. By enabling encryption, you get privacy for your business communication, plus authentication (i.e., protection against call rerouting).

Risks of managing remote workers

Visions of kicking back and working from the beach with a piña colada in one hand and an iPad in the other are no longer just flights of fancy for many workers. Businesses are finding that it really is possible for employees to work remotely on their own devices without losing any productivity.

 

As a result, many companies are measuring the benefits of employees working remotely against the logistical issues inherent in developing a mobile device management plan.

There are many tangible benefits of BYOD (Bring Your Own Device), including:

  • Reduced equipment costs
  • Increased employee satisfaction and efficiency
  • Decreased IT staff burden (since employees maintain their own equipment)
  • Reduced office space square footage (as workers are mostly off-site)

The risk in BYOD is that these devices can potentially expose security vulnerabilities not directly supervised by IT staff or addressed by corporate antivirus solutions. This is where the need for mobile device management comes in.

 

A new landscape of threats

Tablets and smartphones are arguably less secure than desktop PCs and laptops because they lack pre-installed malware protection. Most computers include at least a trial version of an antivirus suite, but for the newest mobile gadgets, individual users and IT managers are on their own to search for and install mobile endpoint security management.

This vulnerability has not escaped the attention of hackers, who unleash creative new threats like SMS text messaged-based attacks on a daily basis. The old-school virus, while still annoying, does not hold a candle to the damage caused by these new approaches in cybercrime, which include more sophisticated Trojans, keyloggers, phishing attacks and malicious apps than ever before.

 

Maintaining security while not breaking the bank

Enforcing a ban on these devices is a near impossibility, but there are options for businesses on a tight budget to maintain security:

  1. The first cost-effective step is to immediately establish protocols regarding these devices in the workplace, including guidelines for acceptable use, forbidden applications and how to avoid dangerous activities, such as browsing certain questionable sites while connected to the company’s Wi-Fi.
  2. Next, evaluate your current solutions to see if they can be modified to protect BYOD devices through password enforcement, remote wiping or other protective measures.
  3. If the quantity of devices or sensitivity of data requires a more robust solution, explore whether the use of Mobile Device Management (MDM) software makes sense. MDM provides a centralized platform to manage all BYOD devices and is recommended if IT personnel are spending an inordinate amount of time securing tablets and smartphones – or if the sheer variety of devices and new threats tests their expertise.

Giving Up Control Is Key to Creating Value

In the two years after Lew Cirne founded Wily Technology in 1997, he assembled an experienced executive team, hired 50 employees, and raised two rounds of VC funding. But he also had to relinquish three of five board seats to his investors, who promptly decided that Cirne should be replaced by a CEO with a stronger business background. CA eventually bought the firm for US$375 million — a far larger haul than Cirne could have brought in, as he admitted. But the founder was still chagrined about the early decisions he made that led to his ouster.

Whether in Silicon Valley or any of the other startup hubs around the world, Cirne’s dilemma is all too familiar. To grow their firms, founders desperately need financing, skilled employees, and the kind of “social buzz” that makes investors reach for their checkbooks. But the more investors or key hires who come aboard to provide much-needed resources, the more autonomy the company founder must surrender. Founders face a trade-off between retaining control and increasing the value of a young firm.

According to a new study of more than 6,000 high-potential U.S. startups that launched between 2005 and 2012, how one navigates this early-stage founder’s dilemma has a profound impact on the firm’s long-term value. The more power retained by founders, the author discovered, the less valuable their companies are.

For every additional position of power a founder occupies (being both CEO and chairman, for example, as opposed to controlling just one of those roles), the company’s value decreases by between 17.1 percent and 22 percent. The author also found that startups whose founders retain an additional level of power see a 35.8 percent to 51.4 percent decrease in the amount of financing they raise, depending on which variables he used to measure a founder’s control.

But this trade-off effect kicks in only after three years, at that delicate stage in which founders’ technical expertise or visionary outlook typically become less crucial to growth than the resources a firm has attracted.