Weekly exercise topic 5 already presented

   

      Q1)Why do you need a business plan?

1           1.   Grow your existing business.

- Establish strategy and allocate resources according to strategic priority. You can find more information about how to growing your business with a business plan.

 2. Back up a business loan application.

- Like investors, lenders want to see the plan and will expect the plan to cover the main points.

 3. Seek investment for a business, whether it's a startup or not.

- Investors need to see a business plan before they decide whether they want or not to invest. They'll expect the plan to cover all the main points.

 4. Create a new business.

- Use a plan to establish the right steps to starting a new business, including what you need to do, what resources will be required, and what you expect to happen.

 5. Valuation of the business for formal transactions related to divorce, inheritance, estate planning and tax issues. 

-Valuation is the term for establishing how much your business is worth. Usually that takes a business plan, as well as a professional with experience. The plan tells the valuation expert what your business is doing, when, why and how much cost and how much it will produce.

 6. Set specific objectives for managers.

- Good management requires setting specific objectives and then tracking and following up. Business need to grows to organize and plan better.

Q2) We hear a lot about millions being made on the Internet, but the reality is it is really tough. Everyone wants free! Advertising rates are low, and the newspaper industry is still struggling with workable business models. Murdoch is determined to introduce subscription models for his newspapers worldwide, but will it work when there is so much good content for free?  

 

      In my opinion I agree that a subscription model could be complete. It’s because, the customer acquisition should be fast, simple and streamlined across any channel. Besides that, is the collect. Payment need to be collected fast and settlements performed easily to eliminate lost cash. Then how to nurture. it‘s critical to give customers the control they need. It can prevent a dissatisfaction of customer.

     references
     http://www.entrepreneur.com/article/83818

     www.zuora.com/subcription-economy/