Running a Chocolate Producing Business From Home.
Home-Based Businesses.
Running a Chocolate producing
business from your home.
My wife wanted a challenge and needed
to make some cash. A friend gave her some chocolate moulds, which she thought
she?d ?play with? for a while. She soon recognized the business opportunity
this provided. Well, I drew up a feasibility study and complete business plan,
which we implemented; and she had a greatly successful business running.
A book explaining the details, the
business plan, a production and marketing plan with procedures was then written
by me for anyone who wants a home based business that is guaranteed to succeed.
From my thirty years experience in the
accounting and business environments, I have noticed that many small,
home-based businesses do not succeed for a number of reasons. The more frequent
ones are:
- Not enough thought is put into the planning of the type of business
ownership, i.e. closed corporation, sole trader, partnership, private
company etc.
- Not enough effort is put into drafting a meaningful business plan,
in advance, which includes: A financial budget, a production and sales
forecast, materials control budget, a cash flow forecast, a capital
expenditure forecast (fixed assets requirements) and other very important
documents
- Market research hasn?t been done sufficiently, if at all
- A Needs Analysis was not drawn up
- Costing of products isn't done properly, if at all. This also means
that if the costs aren't accurately calculated, the selling prices will
also be incorrect.
- Costs aren?t revised often enough, so aren?t prices, as operating
costs and overheads increase so rapidly and haphazardly these days
- Financial planning is not done correctly, if at all
- Financial results are not reviewed monthly, if at all. Therefore
future planning is impossible
As a result of these blunders, businesses keep
failing and I keep being asked questions such as:
- Why is my business not making a profit?
- Why do I have to keep pouring more money into my business?
- Why is my cash flow almost always negative?
- How can I generate a greater interest in my product, or in my area?
- Should I invest more in the business, or get investors to make my
business grow?
There are many more
questions like these, many that you might ask yourself.
A very important question that I have for you
is:
Do you want to own a business, or is it just a
hobby you?re looking for? If it?s a business you?re wanting, you?ll have to
regard it very seriously indeed. Follow the remedies to the pitfalls mentioned
above and avoid falling into them, at all costs. Get the necessary professional
guidance in the legal and accounting/business fields, and in any other
specialized field you may deem necessary for the particular type of product or
service you will be providing.
In my other articles/tutorials, which cover
business mentoring, cost accounting and project management, I deal with all
these matters in more detail, with example exercises.
Making a profit and running a flourishing home
based business by producing chocolates from moulds may seem unlikely but, I can
vouch for this one, as I've had fist hand experience with it from its
inception, and I wrote the book How To Run A Chocolate Factory From Home.
I wish all of you a profitable life and every success in your business venture.
To your success.
About the author: Vaughan Jones (ND CMA ? F ICB)
P S Learn more about me:
My Blog: http://onescribe1.wordpress.com/
Business Mentor 4 U - http://businessmentor4u.webs.com/
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