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Show Page 6 THE OGDEN VALLEY NEWS Volume IV, Issue X September 1, 2001 A Blueprint to Success For most small businesses, a business plan is a crucial element. You can hire someone to create your business plan, but doing it yourself gives you a deeper knowledge of your business, and leaves you better able to answer questions when dealing with a loan request or financial matters. More importantly, creating a well thought out business plan can help you generate the financing you need to make your business a success. Create a valuable business plan A business plan summarizes your business. It should include the following: Statement of purpose. Summarize the main function of your business and explain its purpose. Executive summary. Include the owners’ names and credentials, your products or services, the mar ket and your competition. Business description. State the type of business you own and its legal description, the reason for expanding your business, your short and long-term goals, the times the business will be open and the names of your accountant, attorney, banker and insurance agent. Management and employees. List your duties, responsibilities and job descriptions and those of your man agers and employees. Marketing plan. Describe who buys your products or services, where your customers are located, how you price your products or services and their profitability. Also describe your advertising strategies. Competition. Explain who your competitors are and compare your business with theirs. Business location. Give a detailed description of your business’ loca tion, the building and floor plan. Explain why the location is good for your business. Operations. Describe how your product is produced, including equipment used and how the prod uct is transported. Suppliers. List the names of your suppliers and what products they supply to your business. Financial statement. Include your accounting methods, a balance sheet, operating statement, personal financial statement and cash flow statement. Take the time to understand the needs of your business. Financial strategies for small businesses are different than for individuals. Please call me at any time if you have questions. Note: This article provided courtesy of Calvin Welling, CLU, ChFC, CFP President Heritage Financial Group, Inc. Ogden, Utah 801 399 5409. Subscriptions available for out of area residents at $18.00 annually. Send payment with mailing address to: THE OGDEN VALLEY NEWS P O BOX 130 EDEN UT 84310 What Can You Do if Your Child Lies? Most children give less than the truth at one time or another. Often children lie because they are scared of the consequences of telling the truth. Sometimes they lie because their selfesteem is shaky and they fear we won’t love them if they tell the truth. If children feel safe, they will usually tell the truth. To promote this, consider these suggestions: Don’t ask questions you already know the answers to. Sometimes our questions invite a “creative” answer. Instead of saying, “Did you do your homework?” try, “I haven’t seen you doing homework. What’s your plan?” This approach also focuses on finding a solution rather than blaming. Avoid asking “why” ques tions, especially with your younger children. Many times, children don’t know why they did something. Empathize with your children’s situ ation. Try, “This must be a pretty scary situation for you if you feel like you need to lie about it.” Or maybe, “You must love us a lot to be so wor ried about disappointing us. We need Purchase Refinance Subprime Jumbo Phone: 801-745-3135 Fax: 801-745-3164 Cell: 801-791-6508 to do a better job of letting you know we’ll always love you no matter what you do.” Don’t over-react when they tell you something you don’t like. Otherwise, children get good at say ing what they think you want to hear. Help children feel that mistakes can be opportunities to learn. Don’t call a child who lies a liar. It can become a self-fulfilling label. Praise children when they tell the truth. Try something like, “Thanks for telling the truth even though it was hard. There’s going to be a con sequence for breaking our rule, and I’m proud of you for being willing to deal with that.” Set an example of telling the truth. Follow through with your promises to your children. Tell them about a time you told the truth and accepted the consequences. Of a mistake. Note: This information came from the Weber County Extension Newsletter. It was provided by Tom Lee, Utah State University Extension Family and Human Development Specialist. Government Conforming Construction 3697 N. Willowbrook Ln. Eden, UT 84310 Murder Mystery Dinner September 6th Reservations required 508 Ogden Canyon Ogden, Utah 84401 Phone: 745-4200 LABOR DAY END-OF-SUMMER SALE! Come in and See Us For all your Hardware needs. Store Hours: Monday - Saturday 8:00 a.m. - 7:00 p.m. Sunday 10:00 a.m. - 4:00 p.m. 540 S. Hwy. 39 Huntsville 392-6775 |