By dallaschamber Business Tips • • • • • • • • • • • 0 Comments

Creating a business plan

The following post is from forbes.com writer Patrick Hull.

Bio – Patrick Hull

I am a serial entrepreneur with more than 25 years of experience launching successful companies, including GetLoaded.com, a freight matching service for long-haul truckers that revolutionized the transportation sector. As a business owner and investor, I have financial interests in more than 30 companies which span a variety of industries, including transportation, technology, entertainment, real estate, energy, insurance, and mobile applications. I believe it’s important for professionals to be strong community stewards and serve as mentors for the next generation of entrepreneurs. From Richmond, VA, I’m also active in philanthropic efforts throughout the United States and across the world.

[Previously,] I discussed the components of a strong business plan and why entrepreneurs should create them, regardless of their venture.

I’ve had experience both developing business plans and reviewing them for potential investments. Although an idea is what often gets investors interested, a business plan is definitely needed to get financial support from them.

The simple act of writing down your idea and outlining how the business will operate can be helpful to ensure that you communicate your vision and that everyone is on the same page. It also helps you benchmark and check your progress as the company grows.

A business plan is crucial to get support for your vision because it shows that you have thought through an idea clearly and aren’t just winging it.

For example, I once wrote an entire business plan with a business partner on paper towels. We recognized an opportunity, but had to write it down and test the idea to make sure it would work (we didn’t have any paper handy, although that didn’t stop us). The plan was just for us, but we still had had to see if the vision, the financials, and the strategy were sound. We created that company and it went on to gross millions of dollars a month. In other words, your business plan doesn’t have to be some manicured document in order to make it successful.

Now with this example keep in mind that I didn’t need to raise capital for this company and I had existing expertise in this industry. I’m certainly not advocating people draft business plans on paper towels! However, even with capital and expertise, it was still important to write out our idea and create a business plan. Otherwise, the company could have lacked direction and structure.

Your business plan should be clear and provide a roadmap for your company. Without a plan, you’ll find it more difficult to communicate your vision and see a path to growth.

Here are five other business plan writing tips I’ve found useful during my career:

Get rid of the fluff: You should always be as concise as possible and remove any filler language. Even if it sounds nice, fluff gets you nowhere and wastes space. Plus, no investors want to read a long business plan. Get to the point quickly.

Be realistic: You should be honest with yourself in your business plan, which is why it’s important to consider challenges and opportunities. If you’ve got a strong idea, let it stand on its merit.

Show you’re conservative: Everyone says they’re “conservative” in their business plans, but most aren’t. You should be. Use examples to demonstrate that you’re conservative in your approach and projections.

Visuals are good: Whenever possible, and without overdoing it, use visuals in your business plan. Graphs, charts, and images can help bring your concept to life. Plus, it breaks up the text and helps a plan flow better.

Be creative: Include a creative element in your business plan so you stand out and grab someone’s attention. You can use templates, but don’t look identical to a template. Do something unique to make the plan yours.

If you need help writing a business plan (the financial information can be complicated), here’s a guide from SCORE, a nonprofit association that helps entrepreneurs and small business owners, to a number of business plan templates.

 

By dallaschamber Business Tips • DACC • • • • • • 0 Comments

Lean Business Practices

Blog Credit goes to – Bank of Ireland Group PLC – https://www.thinkbusiness.ie/articles/what-does-lean-mean/

Lean is a term frequently used in the business world, but what exactly does it mean? Simply, lean can be described as creating greater value for the consumer while using fewer resources.

A business adopting lean principles will try to eliminate waste and increase operational efficiency. According to Womack and Jones, there are five principles of lean thinking:

Specific value as perceived by the customer: When it comes to being lean, value is defined by the customer. Many organizations fail to observe a product from the customer’s viewpoint. Products should be created to suit customers’ needs; for example, organizations may need to re-examine the product itself if demand is poor rather than changing marketing strategy. Simply put, when creating a product, make sure that you are addressing customers’ needs and giving them what they want.

Identifying the value stream: The value stream is the entire lifecycle of a product from the origin of the raw material/idea to the finished product. If an organization examines the entire process, it will almost always reveal a large amount of waste (this is known as process re-engineering). If an organization wishes to become truly lean, the value stream must be analyzed and improved.

Making the value flow through the value stream: For the value to flow then waste needs to be eliminated. If the process fails to move forward, then this can be considered waste. A value-stream needs to be created where every aspect of production is completely synchronized with all the other elements. A proper structure, therefore, needs to be put in place to make sure that the entire production stream flows efficiently, thus eliminating waste.

Pulling the value from the value stream: Rather than pushing the product to the customer, you allow the customer to pull the product from you. This pull approach ensures that nothing is created ahead of time and facilitates a much more synchronized flow. To achieve this greater flexibility is required as well as a very short cycle of design and production.

Striving for perfection: An organization that is “going for lean” is striving for perfection; however, this is an ongoing process. Getting value to flow faster will always expose hidden waste that is present in the value stream. What becomes evident is that there is no end to the process of reducing all the waste factors such as time, cost and mistakes. The company must always strive for perfection.

By dallaschamber Business Spotlight • • • • • • • • • • 0 Comments

Allstate Agency – Tomas Patton – Member Spotlight

The Tomas Patton Agency lives an works along side you in Dallas, so they know firsthand what living and driving is like in and around Dallas –  whether you’re commuting to work, heading back home or getting out of town for the weekend.  As a local Allstate agency, and local residents ourselves, you can count on them to understand how to help you protect yourself – and your belongings – from cold days to rainy weather.  They believe in treating people with respect, whether you’re calling them for the first time or have worked with them for years.  You can count on the Tomas Patton Agency to be there when you have questions about your insurance needs or if you need to file a claim on your home or auto.

Tomas told us, “Customers are the most important focus for what we do, and the agency is here to help them choose the insurance coverage that fits their life.”

So whether you are located in Dallas or any where surrounding the Dallas Area and are seeking a review of your insurance, call Tomas and his team see what they can help you with regarding auto, home, renters, motorcycle, life, ATV, boat or business insurance products.

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Gamers, geeks and nerds – Technical Genius Solutions

Technical Genius Solutions (TGS)! Your source for computer repairs in Polk County, Salem and the surrounding areas, located in North Dallas. TGS provides the latest in residential and commercial networking solutions, computer repair and maintenance. They have a team of certified technicians who will pin-point your problem(s), and provide solutions quickly and efficiently. They can streamline your communications, boost your productivity, protect your system and help you maintain your workflow; as a result, saving you time and money!

If you are visiting our website, chances are that you’re experiencing a technology break-down and feeling frustrated. These folks understand that kind of frustration and are here to help. They offer same day service on-site, through remote access and at our office in Dallas, Oregon. They will diagnose and resolve your problem(s) without overloading you with a bunch of confusing, computer-related lingo.

So, whether you have a desktop computer, a laptop or an office with 100 users and multiple servers, you are in good hands with Technical Genius Solutions. No job is too big, or too small! They can do it all backed by a 100% satisfaction guarantee. They will work to serve you and make you, the customer, happy!

It is the TGS promise to you that they will do whatever it takes to earn your respect and loyalty in this very competitive industry. Give them a call and let them prove to you they have what it takes to let your problems be history.

While fixing computers is their driving force.  They love to have customers in for appreciation days where they play board games and computer games.  So even if you don’t have a computer issue right now.  Head over for their next game night.

tgsoregon.com

By dallaschamber Business Spotlight • DACC • • • • • • • • • • • • 0 Comments

He Drives all the Nuts Around Dallas – Squirrel’s Taxi Service

The One & Only Taxi in Dallas, OR.  Forget the big-name transportation apps, They aren’t permitted in town anyway.  You really want a ride with Squirrels Taxi Service, the preferred method of transportation for the locals of Dallas, OR and throughout Polk County. Owner Merlin Berkey is safe, dedicated, friendly and hardworking. Squirrels Taxi Service holds the same characteristics as the beloved woodland creatures our company is named after. Merlin was once referred to as a hero.  A retired Dallas police officer shared that he felt that without Merlin, there would likely be a lot more driving related injuries and fatalities, emphasizing that “he really is a hero.”

Rides for Any Reason or Occasion.  Need a ride to an appointment? We can provide you with the medical transportation you need. Had too many drinks? We’ll be your designated drivers so the party never has to stop. Whatever reason you may need to get to and from, let Squirrel’s get you where you need to be.

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Member Spotlight – Dallas School District

Dallas School District serves a large geographic area of nearly 250 square miles. The students enrolled in the school system represent nearly half of all students served by Polk County schools. A staff of over 300 licensed and classified people work in six schools and one administrative building. The District also sponsors Luckiamute Valley Charter School (formerly Pedee School and Bridgeport Elementary) as well as Dallas Community School, another Charter School in Dallas.

They believe the school is one of the major institutions through which our cultural, political and social heritage is transmitted from generation to generation and the means by which the members of our society are prepared intellectually to evaluate and control cultural, political and social changes.

The primary purpose of the Dallas School District is to provide opportunities for the full intellectual development of each child. The child has the responsibility to himself and society to purposely pursue the educational opportunities provided him. Dallas School District has a shared responsibility with parents and with other institutions and agencies for the social, physical, and emotional growth and development of the individual child.

It is an obligation to our children, community, and country to institute those programs necessary to fulfill the education needs of our children and to provide the facilities, materials, technology, and staff required to do so.

The School District has partnered with the Chamber by being on the board, sponsoring business-centric events, working on business solutions pertaining to workforce development.

Dallas School District is working hard to shape the future, participate with them.

https://www.dallas.k12.or.us/

By dallaschamber DACC • General Information • Management • Marketing • • • • • • • • • • • • • • • 0 Comments

Free Resources for Businesses

When you start a business, the path that awaits isn’t always a straight shot. The good news is there are a plethora of resources both locally and at the state level that can help guide you along the path that is best for your business.  Many resources are free to you, well you pay for them in your taxes so I guess they are prepaid. Below are a few resources to help you get where you’re going.

The City of Dallas can assist business owners in finding business resources, locating available properties, understanding local government permitting and approval timeframes & understanding current Dallas demographic and economic trends.

Chemeketa Small Business Development Center (SBDC) gives small business owners the tools and environment they need to make great decisions they offer classes, small business advising, and resource materials on loan.

Small Business Administration (SBA) is committed to helping small business in the US succeed. As such, several programs and laws have been sponsored that directly affect small business owners. Here, you can learn more about how legislation such as the Small Business Jobs Act and SBA initiatives such as Emerging 200 program can help you and your business succeed.

Micro-Enterprise Resources Initiatives & Training (MERIT) asks the question. “Have a business idea, but don’t know where to start?”  If you’ve been thinking about starting a business and you’re not sure your idea will make you money, they can help. They can guide you toward the information resources that will help you make a great decision.

Go to our weblink for more details and links to each of these resources.

https://dallasoregon.org/business-toolkit/

By dallaschamber Business Spotlight • DACC • Member News • • • • • • • • • • • 0 Comments

Member Spotlight – MAK Grills

MAK Grills is a family and veteran owned, US-based company rooted in over 25 years of metalworking and fabrication experience. An acronym for Matt, Alex & Kal, MAK Grills got its start from our desire to create a pellet grill that measured up to our high quality standards. We wanted to create a pellet grill company that truly put quality and customer service squarely where they should be, at the core of who we are.

Upon discovering pellet grilling, we instantly loved the idea of precision-control and genuine smoke flavor, but we had long been disappointed by models that kept falling short of what we knew a pellet grill could be. At MAK, our grills have been designed without cutting any corners to be nothing short but best-in-class, reaching the peak balance of temperature control and real smoke flavor.

We are often asked, “Why do your units cost more than most of your competitors?” The simple answer is, their units are built overseas and have a fraction of the features found on MAK Grills.

The saying, “You get what you pay for” has never been truer than right now. In a world filled with disposable products, MAK Grills stands out as a manufacturer that cares about building long-lasting products that customers can enjoy for many years. Many of our grill components are made of stainless steel, so they won’t rust, and will last for years to come. We design our grills to exceed your expectations for a quality product.

https://makgrills.com/

By dallaschamber DACC • DAVC • General Information • Member News • Uncategorized • Upcoming Events • • • • • • • • 0 Comments

Red, White, BOOM! Happy Independence Day!

Independence Day 2018, also known as Fourth of July, is a federal holiday observed yearly on July fourth. It is the anniversary of the publication of the declaration of independence of the United States of America from Great Britain in 1776.

Dallas will once again be celebrating the Fourth of July in a big way; Red, White, BOOM! We invite you to join us Wednesday for a spectacular day and evening for family fun as we recognize our service men and women with a beer garden, vendors, non-profit hosted games, field games, live band, a DJ, food trucks, and of course the first-rate fireworks show at dusk. The celebration will continue on July 6th with the sanctioned BBQ Competition Smoke of the Dragon!

All activities will be held at the Roger Jordan Community Park. Dallas Fire and EMS Department will light off the show from LaCreole Middle School. Citizens are encouraged to grab their chairs, blankets and family for the celebration. Come down early to pick your spot!

If you are headed to Keizer to celebrate this Fourth of July be sure to pick up your ticket to the Salem-Keizer Volcanoes 12th Annual Patriotic Tribute baseball game. With his family in attendance, the Salem-Keizer Volcanoes will Thank, Honor, and Salute the “Ultimate Sacrifice” of Fallen Marine, Sergeant Ian Tawney of Dallas.  This annual salute to fallen heroes will honor one of our own local heroes.  Tickets may be close to sold out but check for yourself by clicking here.

By dallaschamber DACC • DAVC • General Information • Marketing • Uncategorized • Upcoming Events • • • • • • • • • • • • • • • • • 0 Comments

Look At People As People

Our chamber hosts a monthly business education luncheon. This last month brought the owner of Salem company, Bob Dalton of Sackcloth & Ashes, who talked about using Instagram for business growth. He made some excellent points about the value of Instagram as well as some great tips on using it to its fullest potential.

However, what he closed with was potentially the most impactful thing he said. I asked him to give us some parting words of wisdom. What he shared with us had little to do with social media. He said the greatest piece of advice he could give is to begin viewing people as people as people. We must consider their identity, not their role in the community or the struggles they have or even their best qualities, we must consider them as a fellow person.

It may seem like semantics to say, a person who is homeless verses a homeless person. Or, owner of “business X” verses Lisa. Or drug addict versus person with a drug addiction.  Or, Republican verses Joe. But in reality, when we can think of people for who they are, we place a value on them. A positive value. When people have value in others’ eyes aren’t they more likely to respond well when disagreed with? In my experience, they are.

It may sound like I’m trying to portray a “Pollyanna” sort of reality where everyone thinks positive and the world is better. That’s not realism. But we can be real and kind. Next time you’re tempted to sling mud at a person because they differ from you, think of them as a person like you are a person. No better, no worse. Maybe, just maybe, we can take Bob’s second final word of wisdom and “start to focus on promoting solutions rather than just opposing problems.”