Table of Contents Executive summaryPg 1 ServicesPg 2 Strengths & WeaknessesPg 3 Business formPg 4 LocationPg 5 PricesPg 6 Organization chartPg 7 Style of LeadershipPg 8 MediaPg 8-9 FinancePg 9 ConclusionPg10 ReferencesPg11 Business Tax Forms neededPg12 – 17 Executive summary I will show in this project the steps I will need to take to start my own business, I will discuss information about my services to the customers, strengths and weaknesses, business form I will implement. At this moment I am preparing myself to start my business from home and will find out how this will benefit me as an initial start up.
I will talk about pricing and of course being a new company I will probably lean towards affordable prices. My market is resident home owners, businesses and government buildings of central NY. Having worked at a small construction business for 3 years as a manager, taking service orders from a recognized home builder company and their customers, I have learned to manage well using new techniques to deal with costumers via telephone, e-mail and in person. I believe a quick response and effective plan to complete tasks are very important to maintain contracts and keep our and their customers happy.
Learning the best styles of managing from companies I worked for in the past have tough me to strive for Life-long learning which is defined as (“Definitions,” n. d. , ¶ 4) “the activity of seeking out new knowledge or developing a skill, and participating in educational activities over the course of a person’s entire life”. And one of the main reasons I want to pursue a degree in business. Services: * Electrical Work * Home Additions * Home Repair * Painting * Plumbing * Roofing * Bathrooms, bathtubs, sinks, vanities Bedrooms * Decks * Garages * Kitchens, countertops * Offices * Patios * Sunrooms We specialize in basement remodeling and refinishing, kitchen and bath remodeling and refinishing, home additions. Our service area includes Central New York areas, including, but not limited to; Oswego, Fulton, Syracuse, North Syracuse, Fayetteville, Baldwinsville, Kato, and surrounding areas. Strengths & Weaknesses Many people dream of starting their own business and hope it doesn’t become a night mare once it is implemented.
Having worked for many companies in the areas of computer repairs, general construction, cleaning and cable tv installations, I have acquired most of my experience by learning the trade then moving up to management specially focused in construction 3 years. I found many ways to assist business owners in their field of work by using my computer knowledge to help them compete in today’s business. I have been preparing myself this year by purchasing power tools, built an office at home, bought a ladder, office supplies, computers and phone system.
I will like to start a business using the skills learned in my previous jobs by managing them once I find the right people to supervise them, but I will have to start my business one by one at first. I will start by providing room painting services because I will not need a cargo van to start, then I will move to small drywall repairs and will be able to use some tools I already have, as my costumer’s needs grow I will provide home remodeling services which will include: remodeling kitchens, room additions and finished basements.
My customers will receive services from qualified handymen at a low cost, including cleaning up after every visit and all services will be delivered on time guaranteed. Here I will explain my weaknesses as a business owner, 1. I always want to make sure all projects are done the way I want them to. 2. I have to inspect the process of service to be able to deliver a good quality of work. 3. I cannot say No to a costumer if not pleased by my work even though he/she is wrong. 4. Good credit and a big savings account. 5. A Cargo van. Now I will move to explain my abilities and strengths which I have developed thru the years (7). . Computer business development. 2. Reliability. 3. Costumer relations. 4. Leadership and Management skills. 5. Responsibility. 6. All office software and hardware to run business effectively, fastest computer today, dual monitor to view calendar/e-mails and have an open web page or phone system, fast office printer, wireless phone system used with computer at office, cell phone with blue tooth capabilities to provide internet to lap top computer when working out of office and abilities to connect to office computer from anywhere in the world.
I have learned many styles of managing a business by seeing and working with different owners and different attitudes. I will lead by example in my business, as per (Nickels, McHugh & McHugh, 2008, pg. 94) estates, that “Organizational ethics begin at the top of a company’s command”. Business Form I will start my business as a Sole Proprietorship because it is the easiest way to start a business and I do not need to hire a lawyer to do it. I have most tools of work and can begin working by myself from home. Since I have y office space and all electronic devices I need to make flyers and web spaces online to link my business to potential customers, I can start letting people know I am in business now. I will need to fill out a DBA form and submitted to the city of Liverpool’s county clerk’s office. I am attaching the other forms needed to start a Sole Proprietorship, forms like 1040 for individual tax return, SS-4 for employer identification number, Schedule C form 1040 for profit or loss from business, Schedule SE for self- employment tax and form 8829 for expenses for business use of my home.
I will be responsible for the overall running of the company. Meet with customers, negotiate prices per hour or project, implement strategic plan to complete the work, marketing, supervise labor at start of any contract and at end. According to a journal published (Abdelsamad, M. H. , & Kindling, A. T. , 2001, p. 24). Estates that, “95% of the total number of business organizations in the U. S. are made up of small businesses”. After reading this journal which talks about why some business fail, I realized that starting a business can be a dream come true for me, but is also full of risks.
A large number of new businesses fail each year due owner’s lack of management skills, excessive optimism, nepotism, failure to monitor results, financial pitfalls and excessive withdrawals. Starting and running a business is not all profit and great salary as I once thought, it takes sacrifices that a business owner have to make such as: time away from family, money and work long hours, it takes great discipline to accomplish a day’s work. Understanding and studying the above mentioned issues many small businesses face in their first years, learning to solve them can be rewarded in the long run.
Location At start up I will begin my business from home as I will be providing services to customers all over central NY, I started a finish basement project at home and took me 6 months to do it and 3 to purchase all office equipment plus all software I will need to run it successfully. My office location is near route 481 in Clay NY, my location is in the middle of most of the cities I will be servicing in Central New York. Per (World at work Telework Trendlines, 2009).
Estates that “More Americans are working from home these days, according our survey an increase of 8% in 2006 and 11% in 2008”. I have worked from home even after coming home from work. Prices To start I will charge by the hour for any remodeling done inside or outside of a home, businesses and government buildings, I will focus on residential in the first year and request half of total amount up front on any project, this will help me save money to invest in big projects for the future. Pricing Strategy Residential Customers: We estimate an average price range of $22. 00 – $25. 00 per hour per handyman and depending upon the size of the work. I will also provide estimates by projects. Commercial Customers – Based on a size of property and work area (outside or inside): * $25. 00 – $30. 00 per hour per handyman for a small property * $30. 00 – $35. 00 per hour per handyman medium property * $35. 00 – $40. 00 per hour per handyman for a large property Government buildings: * $40. 00 – $50. 00 per hour per handyman inside a building * $50. 0 – $60. 00 per hour per handyman outside of building Style of leadership I will implement Autocratic Style of leadership in my business; I will guide supervisors to communicate by cell phone at all times to avoid any confusion in work orders or plans. I believe regular company meetings (1 per month) and good quality training to supervisors will ensure direct orders are followed; qualified handymen (English/Spanish a plus) will also be trained to move to higher positions if the need arises.
I also believe strongly in good work ethics. Ethics as defined by the Encyclopedia Britannica is “the discipline concerned with what is morally good and bad, right and wrong”. As a business owner I need to be very careful with decisions I make for the sake of my company. Media * Residential: primarily of mid- professional families in Commercial: This target market can be broken down into categories: 1. Home owners ranch homes 2. Home owners of new condos or large homes Commercial: small local businesses and large 1. Pizza shops, family restaurants, cell phone accessories store, 2. Malls, Target stores, Wal-Mart, Home builders (as sub-contractor) * Government: 1. Schools, City buildings, Libraries We will market our company as handymen who use individualized attention to our clients. Residential – Our larger competition is unable to offer personalized service and since they deal primarily with businesses and government contracts their prices are very high.
Commercial – We have the man power to deliver big projects at reasonable prices. Government – We offer reasonable prices and promote safety first on all projects. Through our direct marketing letters and flyers, web-sites, links and local newspaper, we will position our services as an inexpensive and hassle-free way to maintain property. By using our services, residential, commercial and government customers will avoid paying fines for not cleaning/clearing their property and/or businesses that can result in lawsuits due to negligence.
Finance My business will start with a total team of 2 employees including myself; this will be until I establish my business as a well known local company in the area (short term). I will use my own money for expenses for office and fuel for car with part time or full time income I have. I will present this business plan to a local bank to get a loan for a cargo van, payroll for 3 months, and insurance just in case payments do not arrive on time from costumers (long term capital). I will also apply for credit line at Home Depot and Lowes.
As presented in Microsoft Encarta “Management” Show synonyms: “Organization, running, administration, supervision, managing, controlling, directors, executives, employers, board, bosses” (¶1). It describes where I have been in the work force in recent years. Business managers’ career path is not a straight line, is not the same for everyone and their choices. All management career paths have different starting points. All have difficulties along the way. Each path leads managers to what they need to know based on where they are presently and where their interests most focus on.
Conclusion Having worked for many companies as a manager over a period of 6 to 7 years I have learned to deal with a diverse group of people and different styles of management, in this research and enrolling in college have made a big step forward in reaching my goals, I learned about attitudes, management skills and understand what it takes to be a business owner, I feel positive I will reach my goals in the near future. References Sustainability Plan / Parks, Open Spaces and Streetscapes/Definitions, retrieved on July 21, 2009 from. http://www. ustainable-city. org/Plan/Parks/defs. htm Abdelsamad, M. H. , & Kindling, A. T. , (2001). Why small businesses fail. Sam Advanced Management Journal, 24(2). Work On The Home Front. (2009). Business Source Complete. http://search. ebscohost. com/login. aspx? direct=true&db=bth&AN=43315267&site=bsi Ethics. (2009). Encyclopedia Britannica. Retrieved July 27, 2009, from http://search. eb. com/eb/article-9106054 Business Definition. (2009). Encartamsn. com Retrieved July 16,2009, from http://encarta. msn. com/dictionary_1861686898/business_administration. html