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How to Write Business Plan: Dos and Don ts #ideas #for #new #business


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The Dos and Don’ts of Writing a Great Business Plan

If you re planning a road trip across the country, you ve likely researched the routes that best suit your desires for the trip. Perhaps you chose scenic roads with lots of stops along the way, or maybe you decided to take the quickest track. To make it to your destination, you need to know where you re going and how you re getting there.

Preparing a business plan is just the same. Without a clear, objective proposal, you cannot expect your company to evolve successfully. The plan should serve to guide you throughout the startup process.

Brian S. Cohen, an operating partner at Altamont Capital Partners and member of Young Presidents Organization. a global network of young chief executives, likened the business plan to a road map for the company.

You don t want to go into any situation blind, said Cohen. You need a map for how you are going to achieve your objectives. The business plan serves that function.

Based on advice from our expert sources, here are a few specific dos and don ts to consider while formulating your plan. [See Related Story:10 Surprising Things Every Business Plan Should Include]

Editor s Note: Need more in-depth support for your business plan? Fill in the questionnaire below and we ll have a top rated company offer you a competitive quote to write your business plan for you.

Do share your plan don t keep it to yourself.

If you want your company to succeed, then all employees should understand the business plan s dynamics. It is not a document that you should lock away.

The business plan keeps an organization focused, [and] it needs to be shared, Cohen told Business News Daily. Too many companies treat it as a confidential document to be kept away from the prying eyes of the rank-and-file employees. I believe the business plan should be shared, discussed and amended where appropriate, through an open loop of feedback and insights.

The more people who are involved, the more ideas you can circulate around the company, Cohen said. It is important to consider every worker s input to ensure that the outcome is something that s pleasant to all.

Do follow an outline; don t go overboard.

You don t need to have an over-the-top, elaborate document, fancy formatting or flashy decor. However, much like a road map, it must make sense to you as well as to your company s employees.

Start your plan, said Cohen, by using a specific outline called SWOT. which stands for strengths, weaknesses, opportunities and threats. First, create an executive summary, in which you describe in what field you wish to succeed, and how and why you intend on doing so. And then, list your company s strengths and weaknesses as well as opportunities for growth, and detail the threats to it that might hinder the achievement of those goals.

Do conduct research don t wing it.

As with any business project, research is absolutely critical to a solid business plan.

Research is one of the big value-adds of writing a business plan, said Joseph Ferriolo, director of Wise Business Plans. Research forces companies to learn what they can expect to make and what the industry trends are.

If the research indicates that your idea is viable, then you can proceed by writing down the goods or services you offer, your marketing plan, how much funding you need and your goals. For more ideas on specific points to include in your business plan, check out this Business News Daily article .

Do put it to use don t file it away.

Your plan is there for a reason. Don t be afraid to refer to it as much as possible think of it as checking the map when you ve made a wrong turn. There is nothing wrong with using your plan to get back on track or to remain there.

The biggest mistake people make is this: They prepare the document and then put it in a drawer and never look at it again. That s self-defeating, Cohen said.

Finally, remember that you should revisit your business plan as your company grows.

Don t just make the business plan and use it for funding really benchmark your company against it, Ferriolo said. Reference the plan monthly and quarterly, and revise your research and estimates as you proceed. Being accountable to the vision you set forth will help keep you in line and successful.

Editing and updating is always a good idea, too; you can never make too many revisions. Cohen said that a business plan is a document that is never complete.

Templates and resources

Additional templates and resources are available at the following sites:

A side-by-side comparison of the best software for writing business plans is available on our sister site Top Ten Reviews .

Editor s Note: Need more in-depth support for your business plan? Fill in the questionnaire below and we ll have a top rated company offer you a competitive quote to write your business plan for you.

Additional reporting byElizabeth Peterson and Katherine Arline.Some source interviews were conducted for a previous version of this article.

Sammi Caramela is a senior at Rowan University with a major in writing arts and a double minor in journalism and psychology. She is President of Her Campus magazine and I Am That Girl at Rowan, and contributes to other writing platforms on and off campus. She expects to graduate in 2017 and continue her freelance work with Business News Daily. Reach her by email. or check out her blog at sammisays.org


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Write Your Way to a Win: Business Proposal 101 #small #business #advertising


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Write Your Way to a Win: Business Proposal 101

It’s a tough world these days, especially for entrepreneurs who have stiff competition in their business niches. Keeping current clients and adding to your client portfolio is the only way you both stay afloat and grow, and no matter how good your products and/or services may be, there are always competitors who want your current business and will go after the same potential clients you do.

Many calls for business proposals are pretty impersonal – governments and public agencies may advertise for bids on projects, products, or other services, give a bid deadline date, and publish the details of their needs. They do this because, by law, they are required to.

For example, a public school district looking to build a new school will publish a “call for bids” for the project. Local and regional contract management firms will then put their proverbial “hats” in the ring and present their proposals. The local school board will receive the bids and make a decision on the contract award, and they are accountable to the public for this decision.

Not so in the private sector. A company is free to make contract decisions as it wishes, having only minimal accountability to their Boards for poor performance and/or cost overrides. Still, business owners seeking new clients and customers must perform well if they intend to keep those clients.

Before You Put Pencil to Paper

Writing business proposals involves a lot of initial legwork. Once you become aware that a potential client is looking for proposals in your business niche, you know you will want to develop a sound, clear, and precise business proposal, and there are many pre-panning activities you will want to conduct.

  • Do Your Research: If you don’t know much about the potential client, you need to study up! Go to the website and read everything! You will get names of decision-makers, get an idea of its business model, how long it been in business, its goals, and it financial picture – all good information to have!
  • Arrange a Meeting with Management: You may not get into see the CEO, but you should make an appointment with as high level a manager as possible. During this meeting you want the client to clarify goals and needs, so be a good listener and take notes! You really want to get clear budget parameters too, so you have a financial framework for your proposal. While the focus of this meeting must be on the client, try to tout yourself a bit – talk about your successes with similar organizations/industries.
  • Develop Your Solutions: Once understand the goals and needs, you are prepared to brainstorm and to develop the most effective and cost-effective ways to serve the client’s needs. For example, if you are in the property management business, and you have become aware that a large apartment complex owner is looking for a new outside property management firm, you meet with that owner or his rep. You ask about his issues and problems and what made him unhappy with the previous management. These will be critical points in your solution proposal.

Writing the Proposal

Writing a business proposal is a lengthy and time-consuming process, so plan enough time to do it right! And if you don’t know how to write a business proposal, you need to be a quick learner. There are templates and samples online that you can study; visit a fellow entrepreneur who has experience and ask for his/her help. Generally, though, your sections will be as follows:

  1. Describe the client’s current situation: In the case of the apartment owner, repair and maintenance have not been acceptable; perhaps screenings of tenants has not be thorough enough; perhaps the management company has not been responsive to tenant issues. These make up the current situation.
  2. State your goals, objectives, and methodologies for meeting the needs of the client and remedying the current situation. Perhaps more resident maintenance staff are required; perhaps the office is under staffed; perhaps there are not clear and consistent policies and practices to respond to repair calls and to conduct those tenant screenings – systems and accountability need to be put into place!
  3. Time and cost: Here is where you get to the heart of the matter. How long, and along what timeline, will you implement the changes, install the equipment, etc. And, critically important, the costs must be carefully and clearly broken down, so that each facet of your solution methodology has a specific cost. In this way, if the client has to cut back on something, he can make informed decisions.
  4. Your conclusion: Do not be afraid to praise yourself. What are the benefits of choosing your company? Point out your successes with similar projects and provide references.
  5. Binding: Make certain that your proposal is bound in a professional manner and submit several copies so that decision-makers can all have their own.

A Word About the Prose

If you are not a good writer, get someone who is. You never know who will be reading your proposal, so make sure there are no grammatical, punctuation or spelling errors. And above all, keep it simple. No one wants to struggle through long and complex sentences with academic-level vocabulary.

How to Write a Business Proposal Letter

A business proposal letter is really a formal and much more dignified “cold call.” You are trying to drum up business by introducing yourself to potential clients who may or may not have heard of you before. The format of the letter should, of course, be business formal and should be impeccable in grammar and style. Here are some pointers:

  1. Find out who the decision-maker is before you write the letter. It should be addressed to that individual.
  2. Your opening paragraph should catch their attention quickly. Using saving money will do the trick, so tell them that you can save them money and/or make their operations more cost-efficient.
  3. The next paragraph should provide more detail about your product or service and describe how it saves money or is more efficient.
  4. The third paragraph should speak to your qualifications. How long have you been doing this? Name past and current clients who have experienced cost savings and greater efficiency with your help. Be certain that you have the approval of these clients to use their names, for they may be contacted.
  5. Closing paragraph should be short and give some call to action. Either ask them to call you or tell them you will call in a few days for an appointment.

Happy proposal writing!

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Andy Preisler is a blogger at Grabmyessay where he came just after he finished his second bachelor. He is very passionate about helping those that are new to the professional aspects of writing, whether it is business related or academic. He is very experienced writer as his field of interests includes education content marketing and business etiquette. If you have any questions please feel free to contact Andy via social profiles.

Posts by Andy Preisler


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How to Write a Business Proposal: 13 Steps (with Pictures) #cool #business #names


#business proposal

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How to Write a Business Proposal

How can I write a proposal for maintenance for air conditioning systems?

Answered by wikiHow Contributor

  • State the problem and tell whoever you are writing to about why the A/C system needs maintenance, Then state your proposed solution to the problem. After that, double check everything that you wrote down to make sure you like how it looks, then sign your name and you’re done!

How can I produce a business proposal 1000 words specifically looking at the communication process of a chosen organization?

Where can I read a sample Sales Proposal?

A proposal for a rental property for an equine rehab. Brand new 4-5 bedroom house in West Palm with animals including riding horses. How would I write that?

How do I write proposal offering to solve a persistent problem?

How do I write a problem for solving a business proposal?

Video Edit

Tips Edit

Do not overuse similar words.

Check spelling and grammar.

Related wikiHows

How to Write a Resignation Letter

How to Make an Authorization Letter

How to Write a Letter Requesting Sponsorship

How to Write a Letter of Intent

How to Write a Problem Statement

How to Write a Complaint Letter to a Company

How to Address a Letter to an Embassy

How to Write a Standard Operating Procedure

How to Write a Letter of Complaint to Human Resources

How to Write a Business Thank You Note


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How to Write a Business Proposal #small #business #investment #company


#business proposal examples

#

How to Write a Business Proposal

Hi there! It looks like you’re new here. Find out how to land more clients with this free guide: 16 Marketing Tactics to Get More Clients .

Photo Credits: Jomphong / FreeDigitalPhotos.net

A business proposal is perhaps one of the most critical documents you need to learn how to write. It is what spells the difference between success and failure, whether you re a freelancer or you have a company of your own.

In today s cut-throat business world, entrepreneurs find themselves spending hours upon hours submitting business proposals to potential clients, and not get any results. On the other hand, there are those that are like snipers, able to get the contract after just submitting one business proposal.

So how do they do it? Well, this article will teach you show you how to do just that.

The Basics of a Business Proposal

Before you even go and start writing that business proposal, you must first understand what it is and learn the basics.

A business proposal is a written document that offers a particular product or service to a potential buyer or client. There are generally two kinds of business proposals: solicited business proposals (which are submitted in response to an advertisement published by the buyer or client) and unsolicited proposals (submitted or given out to potential buyers or clients even though they are not requesting for one).

Business Proposal vs. Business Plan

Quite often, the terms business proposal and business plan are used interchangeably, giving you the impression that they are one and the same. But they are not.

A business proposal is created to offer a product or service to a buyer or client. On the other hand, a business plan is a formal statement of a set of business goals and how these would be achieved. The latter is only part of what is included in a business proposal.

3 Ps of a Winning Business Proposal

The secret behind writing a winning business proposal and one that will just be set aside is the presence of what I call the 3 Ps: problem statement. proposed solution. and pricing information .

Problem Statement

A successful business proposal must be one that is able to describe to the client what their needs are in a plain and simple manner. This is extremely vital because how can you expect the client to believe that you can help them solve their problems if you don t even know are these problems?

Here s an example of a well-written problem statement of a business proposal:

With the presence of social media in today’s advancing world, Puffin Media Inc. hesitated to make the leap from traditional marketing to social media marketing.

Their marketing tactics seem to be losing effectiveness and the company feels as if they are missing out on a large segment of their market. In addition, their competition has began acquiring the majority of the business in the market and have brought Puffin Media’s growing revenues to a halt.

Proposed Solution

The main objective of submitting a business proposal is to offer a solution to a problem faced by a prospective client. This part should be as detailed as possible, and able to address each and every need you have discovered.

Here s an example:

The solution that is recommended for Puffin Media Inc. is to deploy their company on all of the major social media channels; however, there is a major difference in creating social media platforms versus creating a brand you can promote on those platforms.

A marketing campaign must be created utilizing these media channels and creating immediate engagement with your audience. In order for this to be successful, you know how to make sales. Initially, acquire some fans, followers, subscribers, and connections and invite them to join you in particular discussion or attend a specific event.

The purpose of this is not only to promote Puffin Media Inc, but also to solicit feedback from the target audience.

Pricing Information

For many clients, the pricing information is what will make them decide whether they would offer you the contract or not.

How to write this part greatly depends on the solution or solutions you included in the previous segment. If the solution proposed will only entail a short period of time, a Fee Summary will suffice. For longer projects, segment these payments to specific milestones in a Fee Schedule list.

Things to Remember When Writing a Business Proposal

Now that you know the essentials of a winning business proposal, it s time to go ahead and start writing, right? Well, not exactly.

The next part is to be able to find out what to put under the 3 Ps so that you can develop a business proposal that gets their attention and awards you that contract.

Do Your Research

Not all clients and buyers will give you the explicit details of their wants and needs, especially if you re submitting an unsolicited business proposal. Extend your research to include the competitors of your potential client, and their customers as well. This will ensure that your business proposal will be as comprehensive and as detailed as possible.

Put Yourself in their Shoes

Another thing to remember when writing a business proposal is to always put yourself in the shoes of your potential clients. Doing this will help you provide information on things that they would most likely ask, such as Why should we pay you this much amount for the solutions you re offering and How can these changes benefit me?

Why You?

If you determined that a company or client has certain needs, chances are others would have done the same. That means that there will be others that have submitted their respective proposals to the company or client.

That being said, it is important to make sure to highlight your talents, experience and other qualifications to convince the client why they should choose you or your company.

Writing that Business Proposal

When you got all of these, then you re finally able to start writing your business proposal. One of the best ways on how to write a persuasive business proposal is to use a business proposal software.

Business proposal software programs helps you write your business proposal without having to worry about how they should be put together and the content that you need to include. These programs contain two kinds of proposal templates that you can use and re-use, depending on which one you need to write.

In addition to the stored templates, you can create your own proposal templates through these programs based on previous proposals you ve created, making it even more convenient for you and your business.

A Final Word…

Although business proposals present the same information and have the same layout, it s important to take time and make each one unique. Each project is different, even if it s with the same company. Remember, a business proposal must show how you or your company can help a potential client.

About Ruben

Free Guide: 16 Simple Marketing Tactics
to Get More Clients


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How to Write a Business Proposal: 13 Steps (with Pictures) #local #business #listings


#business proposal

#

How to Write a Business Proposal

How can I write a proposal for maintenance for air conditioning systems?

Answered by wikiHow Contributor

  • State the problem and tell whoever you are writing to about why the A/C system needs maintenance, Then state your proposed solution to the problem. After that, double check everything that you wrote down to make sure you like how it looks, then sign your name and you’re done!

How can I produce a business proposal 1000 words specifically looking at the communication process of a chosen organization?

Where can I read a sample Sales Proposal?

A proposal for a rental property for an equine rehab. Brand new 4-5 bedroom house in West Palm with animals including riding horses. How would I write that?

How do I write proposal offering to solve a persistent problem?

How do I write a problem for solving a business proposal?

Video Edit

Tips Edit

Do not overuse similar words.

Check spelling and grammar.

Related wikiHows

How to Write a Resignation Letter

How to Make an Authorization Letter

How to Write a Letter Requesting Sponsorship

How to Write a Letter of Intent

How to Write a Problem Statement

How to Write a Complaint Letter to a Company

How to Address a Letter to an Embassy

How to Write a Standard Operating Procedure

How to Write a Letter of Complaint to Human Resources

How to Write a Business Thank You Note


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How to Write a Business Contract #selling #business


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How to Write a Business Contract

Entering into a contractual business relationship with another party is a serious task and should only be entered into after giving real thought about the relationship you want. Don’t fall into the trap of entering into agreements haphazardly or with complete trust of the other party. Even if it’s a family member (some would argue especially if it’s a family member), the business contract should protect your own business interests first and to do so you’ll need to familiarize yourself with some guidelines on how to write a business contract.

Generally, you will want to keep two things in mind when entering or writing a business contract:

  • Does the agreement address all of the possible situations which may arise. It’s also good to have contingency plans.
  • Do the provisions leave too much room for ambiguity? Contract disputes often arise over unclear terms or provisions.

Read below for tips on writing business contracts for your small business.

1. Get it in Writing

Anytime you enter into a business contract, you want written proof of the agreement as well as specific terms by which each party is bound. Oral agreements do occur in the small business context, but such agreements are difficult to enforce and people’s memories can be faulty and terms easily misremembered or misinterpreted. The first lesson in How to Write a Business Contract 101 is to always get it in writing .

2. Use Language You Can Understand

There’s no need to be intimidated by a false sense that a business contract has to be written in legalese. The best contracts, particularly in the small business context, are written in plain English where both parties know exactly what they’re signing and what the provisions mean. Just be sure that the terms you write are specific as to each party’s obligations and the specific remedies that you have in the event that the other party violates the agreement. Also, keep in mind that certain terms have specific meaning in the law .

The easiest way to write a contract is to number and label each paragraph and only include that topic in the paragraph. By segmenting the contract into individual units, it will be more easily understood by the parties (and by a court should it come to that).

The rights and obligations of each party should be laid out in specific language that leaves little room for interpretation. If you want delivery on the 15th of each month, use the specific number instead of writing, mid-month . If you and the other party agree to a new term or decide to change an existing term in the agreement, be sure to add a written amendment to the contract rather than relying on an oral agreement. A court may or may not accept the oral agreement as part of the contract.

4. Include Payment Details

It’s important to specify how payments are to be made. If you want to pay half up front and the other half in equal installments during the life of the contract, state that, as well as the terms under which you will release payment. For example if you contract with someone to paint your business offices, you might want a provision stating that your regular payments are contingent upon a certain number of rooms being painted to your satisfaction. Whenever possible, list dates, requirements and methods of payment (cash, check, credit). Contract disputes often center on money, so you’ll want to be as specific as possible.

5. Consider Confidentiality

Often when entering a business contract, the other party will gain access and insight into your business practices and possible trade secrets. If you do not want the other party sharing this information, you should include a clause that binds the other party from disclosing your business information or information included in the contract to other parties.

6. Include Language on How to Terminate the Contract

Contracts aren’t meant to last forever. If one party continually misses payments or fails to perform their duties, you want to have a mechanism in place so that you can (relatively) easily terminate the contract. It could be a mutual termination agreement (when the objectives of each side have been met through the contract) or more likely an agreement that either side can terminate if the other side violates a major term of the contract, after giving proper notice of its intent to terminate.

7. Consider State Laws Governing the Contract

Contracts can stipulate which state’s laws will govern in the event there’s a dispute. If the other party is located in another state, you should include a clause that states which state laws will govern. If you don’t, and there’s a dispute, there may be a whole other legal argument (which costs more money) about which state’s laws should be applied to the contract. Avoid this headache and agree to it at the inception of the contract, when both parties are agreeable.

8. Include Remedies and Attorneys’ Fees

Especially if you believe that it’s more likely that you’ll sue over the contract (as opposed to the other party suing you), you might want to include a clause that awards attorneys’ fees to the winning party. Without this clause, each party will have to pay for their own attorneys.

9. Consider a Mediation and Arbitration Clause

In the event of a dispute, it may be advantageous to include a provision that requires the parties enter either mediation or arbitration. or both. Mediation is a voluntary process where both parties try to work out their issues directly, with the help of a neutral third party mediator. Any settlement must be approved by both parties. Arbitration is a more adversarial process where the arbitrator hears both sides’ arguments and makes a decision that both parties must abide by. It’s akin to a trial setting, but the arbitration process is much quicker and cheaper than litigating in court.

10. Consider the Help of a Legal Professional

Writing a business contract that protects your interests while balancing your business objectives is critical to your business’ success. Learning how to write a business contract is the first step on the road to success. But while you should get acquainted with the legal terms and processes for writing a contract, sometimes it’s best to have an attorney review your contract before it takes on the force of law. Find a business and commercial law attorney near you for assistance.


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How to Write a Business Report for English Learners #e #business


#business report

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How to Write a Business Report for English Learners

By Kenneth Beare. English as 2nd Language Expert

Kenneth is an ESL teacher, trainer, and content developer. He provides consulting services for English language learning projects through Englishfeed. You can follow Kenneth on Twitter. on his Google profile: Kenneth Beare. or on Facebook to stay up to date on his latest English learning materials.

Updated July 28, 2015.

If you would like to learn how to write a business report in English follow these tips and use the example report as a template on which to base your own business report. First of all, business reports provide important information for management that is timely and factual. English learners writing business reports need to make sure that the language is precise and concise. The writing style used for business reports should present information without strong opinions, but rather as direct and accurately as possible.

Continue Reading Below

Linking language should be used to connect ideas and sections of the business report. This example business report presents the four essentials that every business report should include:

Terms of reference refer to the terms on which the business report is written.

The procedure describe the method that was used to collect data for the report.

The findings describe the data or other important information the report produced.

Conclusions are drawn on the findings which provide reasons for recommendations.

The recommendations are specific suggestions made based on the conclusions of the report.

Read the short example business report and follow the tips below. Teachers can print this examples for use in class in lessons using sound teaching writing strategies .

Reports: Example Report

Margaret Anderson, Director of Personnel has requested this report on employee benefits satisfaction. The report was to be submitted to her by 28 June.

A representative selection of 15% of all employees were interviewed in the period between April 1st and April 15th concerning:

Continue Reading Below

  1. Overall satisfaction with our current benefits package
  2. Problems encountered when dealing with the personnel department
  3. Suggestions for the improvement of communication policies
  4. Problems encountered when dealing with our HMO
  1. Employees were generally satisfied with the current benefits package.
  2. Some problems were encountered when requesting vacation due to what is perceived as long approval waiting periods.
  3. Older employees repeatedly had problems with HMO prescription drugs procedures.
  4. Employees between the ages of 22 and 30 report few problems with HMO.
  5. Most employees complain about the lack of dental insurance in our benefits package.
  6. The most common suggestion for improvement was for the ability to process benefits requests online.
  1. Older employees, those over 50, are having serious problems with our HMO s ability to provide prescription drugs.
  2. Our benefits request system needs to be revised as most complaints concerning in-house processing.
  3. Improvements need to take place in personnel department response time.
  4. Information technology improvements should be considered as employees become more technologically savvy.
  1. Meet with HMO representatives to discuss the serious nature of complaints concerning prescription drug benefits for older employees.
  2. Give priority to vacation request response time as employees need faster approval in order to be able to plan their vacations.
  3. Take no special actions for the benefits package of younger employees.
  4. Discuss the possibility of adding an online benefits requests system to our company Intranet.

Important Points to Remember

  • A report is divided into four areas:
    • Terms of Reference – This section gives background information on the reason for the report. It usually includes the person requesting the report.
    • Procedure – The procedure provides the exact steps taken and methods used for the report.
    • Findings – The findings point out discoveries made during the course of the report investigation.
    • Conclusions – The conclusions provide logical conclusions based on the findings.
    • Recommendations – The recommendations state actions that the writer of the report feels need to be taken based on the findings and conclusions.
  • Reports should be concise and factual. Opinions are given in the conclusions section. However, these opinions should be based on facts presented in the findings .
  • Use simple tenses (usually the present simple) to express facts.
  • Use the imperative form (Discuss the possibility. Give priority. etc.) in the recommendations section as these apply to the company as a whole.

Continue learning about other types of business documents using these resources:


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How to Write a Business Proposal: 13 Steps (with Pictures) #business #partnership


#business proposal

#

How to Write a Business Proposal

How can I write a proposal for maintenance for air conditioning systems?

Answered by wikiHow Contributor

  • State the problem and tell whoever you are writing to about why the A/C system needs maintenance, Then state your proposed solution to the problem. After that, double check everything that you wrote down to make sure you like how it looks, then sign your name and you’re done!

How can I produce a business proposal 1000 words specifically looking at the communication process of a chosen organization?

Where can I read a sample Sales Proposal?

A proposal for a rental property for an equine rehab. Brand new 4-5 bedroom house in West Palm with animals including riding horses. How would I write that?

How do I write proposal offering to solve a persistent problem?

How do I write a problem for solving a business proposal?

Video Edit

Tips Edit

Do not overuse similar words.

Check spelling and grammar.

Related wikiHows

How to Write a Resignation Letter

How to Make an Authorization Letter

How to Write a Letter Requesting Sponsorship

How to Write a Letter of Intent

How to Write a Problem Statement

How to Write a Complaint Letter to a Company

How to Address a Letter to an Embassy

How to Write a Standard Operating Procedure

How to Write a Letter of Complaint to Human Resources

How to Write a Business Thank You Note


Tags : , , , , , , , , ,

How to Write a Business Contract #business


#business contract

#

How to Write a Business Contract

Entering into a contractual business relationship with another party is a serious task and should only be entered into after giving real thought about the relationship you want. Don’t fall into the trap of entering into agreements haphazardly or with complete trust of the other party. Even if it’s a family member (some would argue especially if it’s a family member), the business contract should protect your own business interests first and to do so you’ll need to familiarize yourself with some guidelines on how to write a business contract.

Generally, you will want to keep two things in mind when entering or writing a business contract:

  • Does the agreement address all of the possible situations which may arise. It’s also good to have contingency plans.
  • Do the provisions leave too much room for ambiguity? Contract disputes often arise over unclear terms or provisions.

Read below for tips on writing business contracts for your small business.

1. Get it in Writing

Anytime you enter into a business contract, you want written proof of the agreement as well as specific terms by which each party is bound. Oral agreements do occur in the small business context, but such agreements are difficult to enforce and people’s memories can be faulty and terms easily misremembered or misinterpreted. The first lesson in How to Write a Business Contract 101 is to always get it in writing .

2. Use Language You Can Understand

There’s no need to be intimidated by a false sense that a business contract has to be written in legalese. The best contracts, particularly in the small business context, are written in plain English where both parties know exactly what they’re signing and what the provisions mean. Just be sure that the terms you write are specific as to each party’s obligations and the specific remedies that you have in the event that the other party violates the agreement. Also, keep in mind that certain terms have specific meaning in the law .

The easiest way to write a contract is to number and label each paragraph and only include that topic in the paragraph. By segmenting the contract into individual units, it will be more easily understood by the parties (and by a court should it come to that).

The rights and obligations of each party should be laid out in specific language that leaves little room for interpretation. If you want delivery on the 15th of each month, use the specific number instead of writing, mid-month . If you and the other party agree to a new term or decide to change an existing term in the agreement, be sure to add a written amendment to the contract rather than relying on an oral agreement. A court may or may not accept the oral agreement as part of the contract.

4. Include Payment Details

It’s important to specify how payments are to be made. If you want to pay half up front and the other half in equal installments during the life of the contract, state that, as well as the terms under which you will release payment. For example if you contract with someone to paint your business offices, you might want a provision stating that your regular payments are contingent upon a certain number of rooms being painted to your satisfaction. Whenever possible, list dates, requirements and methods of payment (cash, check, credit). Contract disputes often center on money, so you’ll want to be as specific as possible.

5. Consider Confidentiality

Often when entering a business contract, the other party will gain access and insight into your business practices and possible trade secrets. If you do not want the other party sharing this information, you should include a clause that binds the other party from disclosing your business information or information included in the contract to other parties.

6. Include Language on How to Terminate the Contract

Contracts aren’t meant to last forever. If one party continually misses payments or fails to perform their duties, you want to have a mechanism in place so that you can (relatively) easily terminate the contract. It could be a mutual termination agreement (when the objectives of each side have been met through the contract) or more likely an agreement that either side can terminate if the other side violates a major term of the contract, after giving proper notice of its intent to terminate.

7. Consider State Laws Governing the Contract

Contracts can stipulate which state’s laws will govern in the event there’s a dispute. If the other party is located in another state, you should include a clause that states which state laws will govern. If you don’t, and there’s a dispute, there may be a whole other legal argument (which costs more money) about which state’s laws should be applied to the contract. Avoid this headache and agree to it at the inception of the contract, when both parties are agreeable.

8. Include Remedies and Attorneys’ Fees

Especially if you believe that it’s more likely that you’ll sue over the contract (as opposed to the other party suing you), you might want to include a clause that awards attorneys’ fees to the winning party. Without this clause, each party will have to pay for their own attorneys.

9. Consider a Mediation and Arbitration Clause

In the event of a dispute, it may be advantageous to include a provision that requires the parties enter either mediation or arbitration. or both. Mediation is a voluntary process where both parties try to work out their issues directly, with the help of a neutral third party mediator. Any settlement must be approved by both parties. Arbitration is a more adversarial process where the arbitrator hears both sides’ arguments and makes a decision that both parties must abide by. It’s akin to a trial setting, but the arbitration process is much quicker and cheaper than litigating in court.

10. Consider the Help of a Legal Professional

Writing a business contract that protects your interests while balancing your business objectives is critical to your business’ success. Learning how to write a business contract is the first step on the road to success. But while you should get acquainted with the legal terms and processes for writing a contract, sometimes it’s best to have an attorney review your contract before it takes on the force of law. Find a business and commercial law attorney near you for assistance.


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How to write a perfect professional email in English in 5 steps – Global

#business emails

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How to write a perfect professional email in English in 5 steps

For most of us, email is the most common form of business communication so it s important to get it right. Although emails usually aren t as formal as letters, they still need to be professional to present a good image of you and your company.

How to write a formal email

Follow these five simple steps to make sure your English emails are perfectly professional.

  1. Begin with a greeting
  2. Thank the recipient
  3. State your purpose
  4. Add your closing remarks
  5. End with a closing

Download our free ebook: Everyday English Vocabulary 38 pages which points useful words and English phrases to help you have a better understanding of what’s going on around you.

Begin with a greeting

Always open your email with a greeting, such as Dear Lillian . If your relationship with the reader is formal, use their family name (eg. Dear Mrs. Price ). If the relationship is more casual, you can simply say, Hi Kelly . If you don t know the name of the person you are writing to, use: To whom it may concern or Dear Sir/Madam .

  • Thank the recipient

    If you are replying to a client s inquiry, you should begin with a line of thanks. For example, if someone has a question about your company, you can say, Thank you for contacting ABC Company . If someone has replied to one of your emails, be sure to say, Thank you for your prompt reply or Thanks for getting back to me . Thanking the reader puts him or her at ease, and it will make you appear more polite.

  • State your purpose

    If you are starting the email communication, it may be impossible to include a line of thanks. Instead, begin by stating your purpose. For example, I am writing to enquire about … or I am writing in reference to … .

    Make your purpose clear early on in the email, and then move into the main text of your email. Remember, people want to read emails quickly, so keep your sentences short and clear. You ll also need to pay careful attention to grammar, spelling and punctuation so that you present a professional image of yourself and your company.

  • Add your closing remarks

    Before you end your email, it s polite to thank your reader one more time and add some polite closing remarks. You might start with Thank you for your patience and cooperation or Thank you for your consideration and then follow up with, If you have any questions or concerns, don t hesitate to let me know and I look forward to hearing from you .

  • End with a closing

    The last step is to include an appropriate closing with your name. Best regards . Sincerely . and Thank you are all professional. Avoid closings such as Best wishes or Cheers unless you are good friends with the reader. Finally, before you hit the send button, review and spell check your email one more time to make sure it s truly perfect!

  • Aren t you an EF English Live student yet? See the general and business English course in action by requesting a one month for only one dollar* trial. Find more information about essential professional English tips here .

    Wil is a writer, teacher, learning technologist and keen language learner. He’s taught English in classrooms and online for nearly 10 years, trained teachers in using classroom and web technology, and written e-learning materials for several major websites. He speaks four languages and is currently looking for another one to start learning.

    Wil


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