Forkids Business Guidelines

A local lease is the contract signed with the owner or owner of premises at the time of lease or rent its premises for the operation of our business.

This agreement sets the term of the contract which will (rent) and amount (income) per month to pay for it.

The contract time varies by type of business, but the average and the recommendation for small to medium businesses, is to sign a two-year renewable contract at a minimum, otherwise the local owner (lessor) may choose to stay with our business when it comes to success.

Also, before signing the contract must include exit clauses that are in our favor, for example, we consider the possibility of dissolving the contract without paying the entire agreement, in case we do not go well with the business.

Another aspect to consider is the potential for sublease (rent a part or all of the premises to a third party) or assign (transfer the rights and duties of the contract to a third party) the lease without having to refer it to landlord.

We must also consider the possibility of construction or improvements on the premises, we must agree on what we do and what not, what should make the landlord, etc.

Finally, note that not only should we study it before signing the contract, but do this with the landlord, for example, investigate their police records and credit.

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The trademark (or brand) will be the name, term, word, mark, design or combination of them that will allow us to differentiate our products or services from the competition and at the same time, enhance our advertising, allowing us to persuade or familiarize our products or customer service.

In the case we are confident in the choice of our brand, and have big plans for her, it is very important that we protect, i.e. the registers, thus, preventing other companies can use the same brand or similar, or that someone we want to copy to take advantage of the prestige of our brand.

Then see the procedure or the generic steps needed to register a trademark:

1. Go to the trademark office

The name of this office may vary from one country to another, might be called the Trademark Office, the Patent and Trademark Office, the Office of Distinctive Signs, etc.

2. Brand Search history

Once in the trademark office, we request a background search, which is a search for identical or similar marks which we use, so that we ensure that there is equal or similar to what we recorded.

In the event that our brand was not just made up a name, but also, for a logo, we do two searches, a phonetic background for the first case, and figurative background to the second.

We should note that this search is ultimately for the registration of a mark, because once we file our application for registration, the trademark office will conduct a more rigorous examination.

The delivery time of this search report usually takes 30 minutes to a background search, phonetic, and 3 days for a background search figurative.

3. Submit application for trademark registration

Once we have ensured that there is no same or similar mark to which we will use, we must complete an application for trademark registration application that delivers us the same office.

Such written request must describe the mark (indicate the name and logo if we’re going to use one) and identify products that distinction.

Once completed our application, we submit it along with proof of payment for the registration of the mark.

4. Review of evidence of formal requirements

Upon receipt of our request, the distinctive office will conduct a preliminary examination, where verify that our application meets the formal requirements.

This review could last 15 days in the event that our application does not meet the formal requirements, notify us so that we can make corrections.

In the event that our application is approved, the office of distinctive signs ordered us to publish the trademark to be registered in the official newspaper of the country.

The idea of this publication is to allow anyone to oppose the registration of the mark.

The deadline for anyone to submit any opposition is 30 days.

5. Examination of registrability

Once past the 30 days, and in case of failure to submit any opposition, distinctive office will conduct the examination of registrability and to grant or refuse registration of the mark.

If we have granted registration, our brand will last 10 years counting from the date of grant and may be renewed for successive periods of ten years, indefinitely.

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Let’s look at what are the most common mistakes entrepreneurs often make when creating your business or company.

Common mistakes to which we must pay attention and avoid, if we start a successful business:

Not having a business plan

A common misconception among entrepreneurs is to obviate the development stage business plan.

Many entrepreneurs do not give due importance to the business plan, and this often results in a miscalculation of investment, excessive costs, a lack of direction, the need of having to improvise all, in a undue delay to create the business, to get the first customers, a lack of organization, control, etc.

Not knowing customers well

Many entrepreneurs do not have very clear on what type of consumers to go to target their products or services and those that do not perform a proper investigation and analysis of its characteristics.

Do not analyze it needs, desires, tastes, preferences, habits, etc., And this is reflected in the design of products that fail to meet the needs of consumers, distribution channel design cannot efficiently distribute consumer products design of media that are not effective on them, and other strategies that fail to perform well in their target audience due to lack of knowledge on them.

Underestimating the competition

Many entrepreneurs underestimate the competition, do not give due importance, not because they take the time to investigate it and analyze it.

They think that having a unique and innovative product, can easily circumvent competition. But do not take into account is that as your business or company starts to become known, the competition will know them, and not stand with folded arms.

And if we have not previously taken the time to study it and analyze it, it will be difficult to design strategies that allow us to address them promptly.

Overoptimistic

The starting a new business always carries an enthusiasm and optimism of the fact themselves embarking on a new project, but when this enthusiasm or optimism is excessive, the entrepreneur can lose objectivity.

Resulting in a lack of realism in your projections, overestimating revenues and underestimating costs (miscalculation of investment), or it can also mean inadequate staffing (thinking it could do everything yourself) or an excess of investment expenses (making money later end missing).

Hire untrained staff

The entrepreneur often think you can do and solve everything, and only need to hire staff just to follow him in his decisions.

Not considered that to create a solid business needs to have even trained people are smarter or know more than one in a particular topic or aspect of the business that are complementary to each other and thereby achieve a good team.

Overspend

Because of the enthusiasm that crosses the start to build your business, it usually does not measure well their expenses, and buy everything at your hand, or buy more expensive products, until it finally runs out of capital before we even start their business.

Not take into account that many of the goods, wax or equipment purchased, may not be needed initially, and later purchase. Or do not take into account that if you do not hurry to buy the first thing you are, always find a place where they can acquire the same at lower prices compared with those of others.

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To undertake a successful business or company must have certain requirements. These requirements are five:

1. Technical knowledge

They have knowledge that will enable the entrepreneur to create, manage and grow your business or company.

If not held, or lack of some, can compensate for this by hiring qualified personnel, or start a training process.

2. Opportunity

To create a successful business, you need to first find a good opportunity.

To detect an opportunity, you need business acumen and analytical skills to differentiate the possibilities of the real business opportunities.

3. Personal contacts

Personal contacts to enable the entrepreneur to have greater opportunities to penetrate markets, greater opportunities to market their products, access to financial resources, etc.

Or in any case, the possibility that we submit our personal contacts other contacts that they possess, such as suppliers, customers, other business owners, etc., We facilitate the creation and development of our enterprise.

4. Resources

Resources to be processed or used, allows us to produce or market our products effectively.

Obtaining good resources (financial, technological, human, etc…) Is another of the keys to success in building a business?

5. Customers with orders

The reason for a business or company is meeting the needs of consumers.

And client needs, which may be satisfied by our products or services, the business, could not succeed.

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Whether you need money to deal with daily operations, or invest in growing our business, the most common way to get that money, is requesting a loan to a bank or any financial institution.

To request a credit or loan from a bank or financial institution, we must first determine what amount we will apply, and analyze in the first instance if we are able to pay that amount.

Second, we must evaluate the various financial deals that exist, taking into account the loan amount, term and each bid costs (fees and commissions).

At this point we must consider the interest rate indicated banks or financial institutions is often not actually the only cost to pay for the loan, but there are often other costs not mentioned in the first instance, such as maintenance fees.

In evaluating the various financial deals, we must also take into account the bank or financial institution itself, that is, regardless of their reputation, their attention quickly to assess your application and to give us the loan, etc..

Third, once we know the amount, cost, and time, we evaluate whether we will be able to pay the amount to pay for it, we must find the monthly fee to pay (which can give us the same bank or financial institution), and then include that amount in our income and expenditure projections (projection of our cash flow), and thus whether the revenue we generate, we pay these fees.

Fourthly we must find out what the requirements requested by the bank or financial institution we have chosen, it is usual that we ask the following:

* Experience in the market: 6 months to 1 year at least, to demonstrate it is necessary that the company is legal.
* Be eligible for credit, i.e. not be classified as a paying customer or deficient in meeting its obligations.
* Have borrowing capacity.
* Historical financial statements.
* Projected financial statements (forecasts or projections, especially cash flow projections).
* Declaration of income tax.
* Trade references.
* Ratio of 3 major customers (past billings).
* List of major suppliers.
* Commercial guarantees.
* Business plan (for investment, for example, to expand the business): This requirement can prove that one has full knowledge on what is going to invest, can also assess whether the business is profitable, and if one be able to repay the loan with the fruit business.
* Formal presentation.

Several of these requirements will vary according to the bank or financial institution, and according to the amount requested.

For example, if a bank or financial institution specialized in microfinance or the requirements may be more accessible, for example, can you ask for only 6 months experience in the market?

Even in some cases, the staff of such entities, not expected, but goes directly into our business to collect the information himself.

Even these institutions do not ask for collateral or guarantees up to certain amounts, just call or submit a draft business plan, showing income, show the movement of business, etc.

Following the steps, in fifth place, we must prepare to answer the questions we do about our company, ready to say why we need the money, provide details of the investment, demonstrate ROI, and prove that we are able to pay the debt.

And finally, it shall wait for the bank or financial institution to assess and measure the risk of extending credit and, accordingly, decide whether to approve the loan.

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Planning is the process by which a company analyzes the external environment, analyzing the internal situation; develop goals based on this analysis, and design strategies and courses of action to achieve those goals.

Importance of planning

Whatever the size of a business, planning is critical to its success for the following reasons:

Provides a basis for other functions

The base serves as a stop planning other administrative functions (organization, coordination and control), used to organize resources, serves to coordinate tasks or activities, and serves to monitor and evaluate results (allowing to compare the results with those planned).

Reduces uncertainty and minimizes risk

Planning can reduce uncertainty and minimize risks by analyzing the current situation, possible future events, objectives and outline proposed courses of action.

Builds commitment and motivation

Planning generates commitment and identification of members of the company’s objectives and, therefore, motivates them in their achievement.

Planning features

All good planning should have the following characteristics:

Is accurate

The planning should include specific objectives, i.e., no general objectives that can be measured but equally, includes strategies and concrete actions to achieve these objectives.

It is feasible

Planning, before being made, you must consider the resources and the true ability of the company, and should not propose objectives or strategies that are outside the scope of possibilities for the company.

Is consistent

Planning should take into account all plans of the company, whether long, short or medium term should be consistent with all other plans and, thus, achieve efficiency in their execution.

Is constantly evaluated

Planning should be evaluated constantly, constantly be monitored and evaluated its development and its results.

It is flexible

Planning should not be written in stone, must be sufficiently flexible to allow changes or corrections when necessary, for example, when necessary to adapt to sudden changes in the market.

Generate participation

The planning must involve the participation of all members of the company; everyone must contribute in their design and development.

Generates motivation

Planning should identify and engage all members of the company in achieving the objectives and thereby encourage their achievement.

Is permanent

Planning is a continuous ongoing process, once the objectives, new goals should be proposed.

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