February 2018 - Work at Home Trust
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February 18, 2018

Important Elements of a Business Plan - Work at Home Trust

February 18, 2018 0
We previously talked about what a business plan is, so now let's talk about the crucial elements that your business plan should have. Click on the above link for the previous article. But to briefly explain, a business plan is the road-map of operating a business.It helps you monitor all your business activities, milestone, and goals. It also helps you stay focused and know what works and what needs to change.

You probably have a business idea that you would like to bring to reality, but you just aren't sure of the steps to take to write your plans without missing any important aspects. To be frankly honest, there isn't a right or wrong way of writing a business plan as long as you can fully understand what you have written. That being said, I must point out that it is also important to include the main popular elements that people usually look for when trying to read and understand the detailed information of a company. You want it to be as professional and easy to follow as possible. Even if it was initially only meant for you to read, you just never know if you may have to share with colleagues or financial lenders in the future. So, let's get right into it and outline those elements.

Executive Summary
Every business plan should have an executive summary starting on the first page of the business plan. The executive summary should basically highlight the important aspects of the business. Even though it appears on the first page of your business plan, it should be written last. Make sure that your company's name, address, product/services, and purpose of the plan are included in the first paragraph of your executive summary. The rest may highlight everything else such as what your business is about, its goals, plans, the company's background, the capital requirements, management, mission, keys to success, competitive advantages, and the financial projections for maybe the next 3 to 5 years. Make sure to be clear and concise. It should cover about a page or two. I must clarify that executive summaries could slightly differ depending on the business type. To simply put, just write about what a brief summary of your business will be about.

Company Description
The company description of your plan should give detailed descriptions of your business such as its size, growth rate, when and why it was opened, the business model, your business strategy, how to address legal affairs, security matters, and information about the products/services that you plan on selling. It is also important to include the company's operation plan (location, equipment, capital, production process, supplies and sources, and everything else related to the operation of the business), the company's background (optional if it is an internal plan), and legal forms of the business. You may include the details of your products/services here or create a separate section. 

Marketing Plan & Analysis
Make sure to describe what your target market is. You may include a market growth, trend, and even forecast to help you have a better idea of where you are, where you are going, and what you should do to get where you are going. This part is often set up in a form of a table.
Also, talk about who your clients are, what they need, your unique selling points, a promotional/distributional plan, where to find your clients, and how to reach out to them. Note down all your research as you go. 

Competitive Analysis
The competitive analysis basically outlines who your competitors are, what makes you stand out among your them (competitor advantage), and what makes your product special. Knowing your competition is very important because it may give you a better idea of what to focus on and even what your potential clients may be looking for. 

Strategies & Implementation
You must be as specific as possible when writing in this section of your plan. Talk about your short-term/long-term goals and specific ways to get to each one of them. Outline everything in ways that you could easily cross out what you have accomplished as you go. Talk about your milestones (dates, deadlines, sales forecast, and budget). Once again, be as specific as possible. This is one of the most important parts of your business plan.

Financial Plan & Analysis
The financial plan and analysis should talk about anything related to the financial structure of your business such as the profit/loss, cash flow, balance sheet, and income statement. At the very least, make sure that you include your projected profit and loss, as well as your cash flow (where is the money coming from and what is it financing) of your business. 

If you plan on getting grants, investment offerings or loans, make sure that you include detailed information about your loan requirements, your intended use of the funds, and/or the collateral, and most definitely repayment plans.

Management Summary
Describe your management team by giving details about who will manage your business. If you have more than one member, talk about each person's position in the team and his/her experiences. If it is part of your plan, you may also want to describe how you would grow your staff membership for future business objectives, key personnel, training, rewards, employment strategy, and related costs. 

The purpose of a business plan isn't just limited to what you plan on doing before starting your business; it should also include necessary steps to take as you grow, the changes that you make, and what to do to improve the overall structure for the betterment of your business.

Depending on what you intend to do with your business plan, you can make it as simple or complex as you want. Whatever you choose to do, just make sure you are as detailed as possible. Don't write your business plan in codes. You may think you understand now, but you may confuse yourself later down the line. If you have any questions, be sure to comment below. I wish you all the best!
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February 13, 2018

What is a Business Plan and 8 Reasons Why You Need One - Work at Home Trust

February 13, 2018 0
If you have a business or planning on operating one, then you need a business plan. I know; I put it out there very bluntly and straightforward. But let's just face it, wouldn't you need a road-map or a GPS to reach your destination if you had never been there before? Even if you had, wouldn't it be handy to still have one in case you make mistakes or forget something? As a map guides you from one point to another, so does a business plan when it comes to running a successful business. So, what is a business plan anyway and why is there so much emphasis on your business needing one?

What is a Business Plan?
You've probably heard it time and time again, "You need a business plan!" It is only obvious to first know what a business plan is to understand the reasons why you need one. A business plan is a blueprint of a business, what it should be, its future, and steps necessary to make it successful. It is an outline of what you intend for your business to grow revenue, to gain profits, and what your financial forecasts are. A business plan records what products or services you provide, the rates, how to market them, and who your target audience is. It also allows you to know whether your business is flourishing after your investments. A business plan is basically a written form of what you brainstormed when planning on operating a business and what you change as time goes.

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Why You Need a Business Plan
  • To remind you of the great ideas and goals you initially had: I'm sure when you decided to start a business, ideas started flowing through your mind. Imagine not writing any of those down. Wouldn't you eventually forget some? Taking notes is a great way of preserving all your ideas and intended goals. A business plan also serves the same purpose. It is taking notes as you go along. 
  • To assist you in acting on what needs to be done: Writing your objectives down is just the beginning of the tunnel. It is crucial to keep up with what has been written and follow up with actions. Your business plan will help you focus on what needs to be done daily, weekly, monthly, and even annually. 
  • To show your accomplishments: It is very important to keep track of your accomplishments to avoid unnecessary repetitions. Your business plan gives you the opportunity to cross out all the goals you have accomplished and move on to the next one without worries.
  • To help identify your company's strengths and weaknesses: Knowing your strengths and weaknesses is VERY crucial! Having everything recorded and outlined will help you direct your focus to the right place at the right time. Your business plan will show your step by step actions, what worked, what didn't work, and how it all happened. Knowing all these details will assist you in taking care of the problems. It'd help you focus on what worked and eliminate what did not work previously. Without a business plan, imagine remembering everything. Exactly; a chaotic mess...
  • To make sure your team is on the same page: If you plan on working with a team such as sub-contractors, freelancers or employees, it would do you and your co-workers a great service by having a visual outline of what the business is about and how to go about implementing what needs to be done. It saves you time by cutting down time wasted on repeating yourself. It also gives an objective blueprint of everything to your co-workers, saving them time, and preventing frustration and misunderstandings. 
  • To help evaluate your market and competition: A business plan is not only written for the start of a business, it is also meant to keep up with all the short-term and long-term activities of the company. Having said that, it is very important to know what the market of your product/services is like and how to keep up with the trend. You should know what your target market needs because that will determine the success of your business. Knowing your competition is also a crucial aspect of your company's success. What makes you stand out in the crowd? Keep an open eye and take notes.
  • To establish a solid proof for financial support: If you want to receive grants or loans, having a business plan would be necessary to obtain financial support. Lenders or grant givers will usually NOT lend or grant your company money without you providing them an official business plan. It is usually a requirement. People want to know what their money is being used for and why they should give you the money. Having said that, if you are able to establish your business without taking loans, that may be better for you. The last thing you would want would be starting a business with debts.
  • To give you a clear idea of what is going on and what needs to change: Since your business plan allows you to micromanage your company's progress, it also enables you to macromanage it. Micromanaging your business is controlling every detailed aspect of your company, whereas, macromanaging is when you deal with the bigger picture. So, having it all written down will keep everything neat and simple and allow you to stay aware of your company's progress. Additionally, knowing what's going on will help you identify what needs to be changed to reach your business milestones and goals.
I've only shared a few of the many benefits of writing a business plan. You can start writing one right now by brainstorming based on the above information. If you have tips, ideas, or additional benefits of writing a business plan that you would like to share, please do so by leaving a comment below. Take care now.
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February 04, 2018

40 Non-Phone Remote Jobs You Can Do Anyway - Work at Home Trust

February 04, 2018 0
If you're reading this article, chances are, you're on the look-out for a remote job that doesn't require you to be on the phone. Work at home jobs are becoming popular now, but most of them seem to be phone jobs. If you're a mother with small children, have noisy pets, or live in a very noisy neighborhood, phone jobs may not be ideal for you. These are some of the reasons why many people prefer non-phone jobs. Of course, then we have the introverts who simply dislike talking on the phone constantly (like me) unless it's a friend or family member. Whatever your reason for wanting a non-phone job may be, relax and browse through the following fifty list ...

Transcription is basically turning an audio/video file into a written one. You simply listen to the audio, then type out what you hear. You must be fast at typing to make it worth your time. Now this one may not be the most ideal non-phone job when you have little kids running around, so always wait for a little quiet time to stay focused while working. Depending on the company you work for, rates could either be way too low or reasonable. Keep in mind that getting $50 per audio hour for example does NOT mean you're getting $50 an hour. Think about the time it would take you to type, pause, listen, rewind, etc. An audio hour can take you anyway from 3 to 6 hours to transcribe it, depending on how fast or slow you are at typing. Some companies may require that you be experiences before hiring you, but there are many who hire on entry level. Most of them require a transcription evaluation before getting hired. Try practising typing as much as you can if this is the career path you may go for. Here's a site that may help you with practising: Listen and Write

SpeakWrite (for USA and Canada only)
Verbalink (USA only)
CrowdSurf (short audios, very low pay, but may help you improve your skills through practicing)
Transcribe.com (transcriptionist or editor)
Scribie (popular for beginners, but very low rate)
GMR Transcription (USA only, pays high, but requires 2 transcription hours without pay!)
Babbles Type (+ other positions)
ubiQus (+ other positions) 

Edit Fast (editing, proofreading, writing) 
Scribendi (proofreading, editing)
Kibin (currently don't have a position, but check sometimes) 
This is self-explanatory. It's basically doing customer service through chat instead of a phone.
The Chat Shop
WordVice (editing and other positions)
Site Staff (USA only, currently not hiring, but accepts applications) 
Live World (Bilingual Customer Service Agent)
Apple (social media manager)
ModSquad (moderation)

Research/Web Search Evaluation
Help companies provide the best researched information to their clients by becoming an expert in research. Also, you can influence the quality of the world wide web by analysing relevant results in search engines as a web search evaluator. Your job would be to make sure people find relevant content when they type words or phrases in search engines. 
Clickworker (+ various positions)
LeapForce (+ other positions, depending on location)
CrowdFlower (+ various positions) 
Appen (+ other positions) 

Data Entry
This is basically taking data from one document to another, or typing in data on a spreadsheet. There are various types of data entries.
MicroWorkers (+ other micro gigs)

Social Media/Other Jobs
99 Dollar Social (social media content specialist)
TheSmartCrowd/Lionbridge (various positions, based on locations) 
Animalz (content marketing analyst, content promotion specialist) 
Hubstaff (marketing Generalist and other positions)

*Bonus* Cactus Global (writing, editing, development, more, for mainly Asia and Africa)

As you start applying for your desired job, please be advised that each of these opportunities may not be enough as a full-time income. Try having multiple streams of income to have an overall better experience. I hope this list will benefit you. If you do get hired through any of the jobs I've posted here, please message me to let me know or comment below. It's always nice to know what one is doing is making a difference. Take care now.
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