Entrepreneurship

How to Create Your Business Plan 101

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Faviola the CEO Hustler

The "Hustler Business Plan" 101

Create a successful business plan for your Business (DIY)

Boss Up and Rise

By FAVIOLA VALENCIA "THE CEO HUSTLER"

Why is a Business Plan important?

 

Imagine starting your business with “high-profit margins, low overhead, and no physical products, a business you could run from the comfort of your own home or from wherever” all while bringing in six figures, with a platform you probably already use – wouldn’t that be great?!

 

Well, before you can do that you need to create a business plan just as with any other business, you need to have a plan in place for your business, regardless of the type of business.

 

So, before you even begin to think about making any type of income from your services, or products, you need to start treating your “business” as a business.

 

Yes, many “businesses” start a business, but they don’t treat it like a business…In other words, they are just providing the service, collecting the money “commingling funds and their business”, which is a NO!, NO!

 

Little Story: I started my business in 2000 but unlike many businesses I had business experience both Small and Corporate experience and therefore I knew early on what I needed to have in place and what I needed for my business in order to protect it and protect myself.

 

However NOTHING is “BULLETPROOF” and even with all these measures things still happen, but if you prepare yourself you are able to handle things a lot better than NOT being prepared, right?!

“A business without a plan is doomed to fail, According to U.S. Small Business Administration, a business plan precisely defines your business, identifies your goals and serves as your firm’s resume.”

The biggest mistake that I’ve come across when it comes to business is that many exist without a business plan. 

 

But, unfortunately, many fail or put their business at RISK because they don’t have what they need for their business.  

 

A companies business plan is the foundation of a business, without it, a company is inevitably “doomed to fail – bottom line your putting your business at RISK!”

 

Example: When you have a plan you actually start thinking about your earnings,  but also the best way on how to allocate your resources—time and plan more importantly plan on your business growth and where you want to be or go.

 

Unfortunately, not every savvy entrepreneur creates a plan before they launch a new venture…All entrepreneurs, freelancers, solopreneurs, start-ups, etc should (must) create a business plan.

 

Regardless of how long you’ve been in business (even if you are a newbie), walk with me through the following steps and let’s create a strategy (we’ll call it our “Hustler business plan”) and fast track your path to profitability.

A business plan doesn’t have to be complex or 20+pages long especially if you are just starting out, it can be a Basic plan with basic components;  balance sheet, an income statement, and a cash flow analysis.  

 

It will help you allocate resources properly, handle unforeseen complications, and make the right decisions for you and your business.

 

This information is crucial for your business because it provides specific and organized information about your company and how you will repay any borrowed money.  And more importantly, having a good business plan will help your overall success for you and your business. 

 

A business plan will also help you if you are thinking of adding on a sales team, VA’s, vendors, suppliers, or operations team, but it will help you define and focus on your goals.

 

Remember your business is your “Baby” and having a plan on how to care for your “Baby” is going to be so important and crucial for the overall growth of your “Baby”, right?  You have to teach your baby how to “Crawl before they Walk, and before they Run”…  

 

So, now that we got the “411” out of the way, let me tell you that everything that I share with you is based on “Real Life” experiences, knowledge, trial/error, research and development and I share with you ONLY things that I’ve invested in and proven methods. 

 

Having said that, you can choose to spend the Time & Money in doing your research, or contracting another “Coach” to create the plan for your business, or you can invest in my DIY that includes a Step-by-Step process and plan that I’ve used for my business. 

 

I spent over $5k on this plan, but I share it with you because I know how expensive starting and growing a business can be and I wish I had this same benefit back when I started my business, but I didn’t!

 

Did you know that A business plan varies quite a bit and Consultants can charge around $3,000 to $15,000 for a complete business plan? For larger corporate projects, expect to see costs ranging from $25,000 to $50,000 – YES!!! 

 

And these plans usually don’t include your Sales & Marketing, Strategic Planning, HR, Operations, etc…these are all sold separately but are so IMPORTANT if you want to run a successful business!

 

Let me tell you that I spent over $30k just on plans, handbooks, manuals, etc but they played a key role in my growth and success with my business, more importantly, they helped me get the 6-figure contracts and expansion.

Get the Basic Business Plan

Don’t put your Business At Risk. Start & Grow on the right track!

Entrepreneurship

How to Contract a Virtual Assistant

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Hiring a Virtual Assistant, what you need to do before you decide to hire/contract/work/invest on a VA for you and your business.

Question: Your business is growing, right? Great!

 

But do you have the tools, processes, and procedures in place to hire/contract people in order to continue that growth without overwhelming yourself?

 

Well, now’s a great time to take charge and see where you may need help, as well as what processes and procedures you need to put in place to get this process started!

Here are somethings to ponder...

So, if your thoughts are to grow your business (today or in the future), you have to understand that it’s going to require lots and lots of work, if you want this contracting/recruiting process to work!

 

Things you must consider before you decide to hire employees, or recruit freelancers because (trust me), they will either “make you or break you”…YES, I SAID IT!

 

Also, keep in mind that it’s your responsibility not only to hire/contract employees, freelancers, contractors, management, etc., but it’s also your responsibility to train, mentor, but more importantly to have processes and procedures in place, because otherwise instead of moving forward you will be taking steps back!

 

💡TIP 1: Don’t line people up without having the right procedures in place.

💡Tip 2: Really understand your Biz growth and what you need and where you want to go.

💡Tip 3: Set your processes in place; recruiting, HR, administration, etc.

 

 

  • Lining people up before having processes in place will ONLY create chaos, confusion and in the long run problems.
  • Many of use don’t have an HR degree, or experience and therefore we may not be good in the whole recruiting and training process and that is why creating these processes and procedures will come in handy. (I created my own internal processes and procedures and therefore have been tested and proven to work effectively for all business sectors)
  • So, if you decide and envision your business growing, it is very, very important to have these procedures in place for each department, each staff member, etc.

These are just some basics to ponder, but it requires more than just this…

 

I hope you find these growth strategies helpful when you decided to hire help. These three simple tips make such a huge difference when it comes to getting the right person for the job, trust me, I’ve been there!

 

For more guidance and specific tips for your situation, that’s where my coaching can be even more useful – so contact me today, let’s chat and see how we can work together and get your processes and procedures in place, so that you can #BOSSUPANDRISE and be that #CEOHUSTLER you’ve always dreamed of!

Interpreting and Translation

Happy Translators Day

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#goodmorning everyone!

#buenosdias a todos!

#happytranslatorsday

#felizdiadeltraductor

The #celebration of the day is being #promoted by FIT which is known as the (International Federation Of Translator) which was set up ever since 1953. The idea of making this day official was promoted by FIT and then it got recognized as the #internationaltranslationday to show the solidarity of the worldwide #translation community in an effort to promote the #translation #profession among all the people and not only in one country but in the entire world?

#entrepreneur #smallbusiness #spanishinterpreter #spanishtranslator #freelancer #freelanceinterpreter #interpreter #translator #interpreterlife #intérprete #traducción #traductora #business #eliteservices4you #entrepreneurship #entrepreneurlife #workingmom #fitmom #fitness #motivation

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Entrepreneurship

Simultaneous Interpretation requires a highly skilled Interpreter and NOT everyone can do it!

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Education Interpreter

How many of you fully understand or know how difficult Simultaneous Interpretation can be?

Well, let me tell you its difficult for some, but NOT for me, I love it and it’s my favorite mode of interpretation. 😍

I have over 16+ years of experience working as a Simultaneous, Consecutive, Conference interpreter for all areas, such as Medical, Legal, Government, Hospitality, Investigations, General Businesses, State, County, Federal, and much more!!!

Simultaneous InterpretaionSimultaneous interpretation is a highly specialized area of interpreting, which not only requires accurate and complete oral interpretation, but also the interpreter must interpret at the same rate of speech of the speaker, with only a few seconds of lag time, therefore requires a lot of concentration and usually requires a “team of interpreters” for any assignments over 2 hours.

Many organizations and companies think that Simultaneous or Conference interpreters are high priced, and yes they are.

Why?

Because of the skills needed to successfully get the job done, but also because there aren’t that many interpreters who are skilled, qualified and/or able to interpret in this mode of interpretation.

Throughout my years in business, I’ve met a few “Court Certified Interpreters” who have years of experience working ONLY as Court Interpreters but have NEVER worked as Simultaneous Interpreter, moreover, they have never used the specialized interpreting equipment.

So, my point is: When you are in need of a Qualified, Experienced, Simultaneous interpreter for your event – make sure that you provide the agency, or the interpreter as much information about your event, so that they can be prepared and/or locate an interpreter experienced in this mode of interpretation, because again…

“Just because you speak a second language, does NOT mean you can become a Professional Interpreter” and “Just because you contract a Court, Medical or Administrative Certified Interpreter” DOES NOT MEAN they can interpret in all modes of interpretation or all industries!  20160510_102052

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Entrepreneurship

Is Freelancing for You???

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Start Your own Business

Are you interested in being your Own Boss?

Have you considered Freelancing?

Tired of working for others?

Well, you are now my best bud 🙂  Great Job in wanting to be successful!

As you may already know, you can be successful in anything you do, as long as you work hard, you are dedicated, you have passion, you have motivation…But here are some things to ponder:
Pros:
  • You decide when you want to work
  • You decide what jobs to take
  • You decide how many hours to work
  • You decide how much you want to make
  • You can do the work that you love
  • You may earn more than what you currently earn
  • You are your own boss
Cons:
  • Your work may not be consistent
  • You may have to work 50+ hours per week
  • Your life can and will be mixed with your personal life
  • Waiting 30+ days to get paid
  • You will NOT have benefits, health insurance, etc…
  • You will have to wear many hats; accounting, administrator, sales and marketing, publisher, content writer, etc…
  • You will NOT be able to earn any cash until you actually find work and you may not receive your first payment for 60 days…
So just like anything you decide to do, you have to be serious, dedicated and NEVER GIVE UP!!! It will all pay off and the rewards will be GREAT!!!
I started my business 16+ years ago from the ground up, with no help but my husband and my kids.  I made mistakes, I got frustrated, I got discouraged, it was stressful and painful, but I’m very thankful that I NEVER GAVE UP and kept on going…
Let me tell you, that #freelancing WILL GIVE YOU a lot of beneficial benefits that a normal job will not and a life that you will enjoy and love along with your family!
You will have the freedom to work whenever, from wherever you want.  I myself have been able to travel with my kids and husband and in my downtime, I’m still able to do #translations as long as I have WiFi

Beautiful Arizona

The best thing about being #selfemployed #freelancer #entrepreneur is that you can start your #business TODAY!!!  Remember: you will be working for yourself, you will be making money for you and your family and not someone else’s!

Being your own boss takes very little investment a lot of things you can do yourself; online marketing, email marketing, flyers, etc…

You will decide who you want to work with when you want to work and how much you want to make!  Remember: being self-employed, freelancer, an entrepreneur is not easy!!!

So, if you want an easy option then this is not for you!

Ask me how to start your own business and on your way to being your own boss!

 

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