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Want to start your own business one day? Then this video is a must-watch. If you're just planning to keep working at Wendy's forever, then move along.
If you know your earnings, and you know how much you've spent, how do you calculate your profit? That's right - you hire an accountant. (Or, if you...
Math 5: Creating a Plan Book 6 Views
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Description:
So you want to start a pet chicken business... We can't say we understand, but we can help you get it off the ground. The perfect plan is just one cluck, er, click away.
Transcript
- 00:14
we have learned a lot about running a business in this unit so much
- 00:17
that it feels like a bit too much after all with all those facts piled up in [mans brain filled with lots of facts]
- 00:21
your brain you might be thinking what if my head explode or is that just us no
- 00:26
one else worries about that okay well that's cool neither do we that would be
- 00:31
weird but just in case let's summarize some of this knowledge in an easy to use [a business plan book placed on an office table]
Full Transcript
- 00:36
an non exploding plan book this plan book will help take us step-by-step from the
- 00:41
humble beginnings of a business as a mere idea to the planning it would take [a woman sitting at a bus stop thinking about chickens]
- 00:45
to make it a money-making machine at least five years in the future if you're
- 00:49
not that into planning you can stick with a simpler plan ignore your business [a man driving a Ford car]
- 00:53
idea and go get some pizza a delicious plan you betcha but you probably won't
- 00:58
be making too much dough from it though you will be consuming a lot of dough [a man looking very full from eating pizza]
- 01:02
anyway if you want to make money then let's get started on our plan book step
- 01:06
1 figure out the purpose of your business this is the cornerstone of your
- 01:10
plan because once you know what your business is supposed to do it becomes a
- 01:14
lot easier to make decisions about how to move forward for example if you want
- 01:17
[chickens roaming around together] to start a business that raises pet chicken maybe you shouldn't buy a few
- 01:21
hundred foxes to roam the halls just a thought at this stage you'll also want
- 01:25
to choose a name for your business hopefully something recognizable and
- 01:28
catchy why because fowl friends is a lot more likely to get your customers than [people standing outside the fowl friends store]
- 01:32
unnamed corporation number 527 next it's time to figure out the expected
- 01:37
expenses sales and profit in your businesses first year by nailing down
- 01:41
how much it costs to run your business it'll be easier to tell how much you
- 01:45
will need to charge and sell in that crucial first year and since profit is [book detailing step three of planning a business]
- 01:49
sales minus expenses you should have a good idea of how much money will come
- 01:53
rolling in so if those chicks cost you three bucks each maybe don't sell them
- 01:58
for two dollars a head unless you really like losing money for some weird reason [a yellow sales minus expenses note with chickens roaming]
- 02:02
after that it's time to think about the semi distant future by figuring out the
- 02:07
projected profits for your first five years depending on your business this
- 02:11
might include various increases decreases of profits year to year so [graph of projected profits in future years]
- 02:15
you'll probably need to dust off an old mathematical tool fractions just make
- 02:19
sure you sneeze away from the fractions politeness and hygiene are both very [a man sneezing in front of himself]
- 02:24
important Plus once you know the expected profit from years 1 through 5
- 02:28
you can add them all up to find your total profits for the first 5 years
- 02:31
hopefully it's pretty high no one wants to spend five you're surrounded by [a woman sitting near chickens with a huge pile of cash behind her]
- 02:34
squawking birds for nothing
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