SciFi in Ag: Chatbot With Your Plants?

Precision farming is about managing variations in the field accurately, to grow more food using fewer resources and by reducing production costs. It can make a difference in food production, facing the challenge of a growing world population, and can help farmers achieve: greater sustainability, environmental protection, higher productivity, and economic benefits.

What is happening in the industry?

Highest adoption rates of precision farming are seen in the United States, Germany, Australia, and Brazil, while Asia-Pacific is expected to show record high rates of adoption in the forecast period. With the governments of various countries providing subsidies to farmers for the use in their cultivation, the adoption rates are expected to increase in the other regions as well. Various technologies dominating the market are GNSS/GPS Systems, GIS, Remote Sensing and VRT, where VRT is the fastest growing segment with a robust CAGR of 16% during the forecast period.

AGCO Corporation acquired Cimbria, a Dutch equipment supplier of grain, seed, and powders. The acquisition of Cimbria will help expand and strengthen their business geographically in Denmark. The company also offers mobile tools that offer access to large data and information related to crop, which further improves farming. John Deere acquired Monsanto’s Precision Planting. This acquisition will help the company maximize digital agriculture and helps in seamless collection of infield agronomics data.

Precision Farming – Market Dynamics

Less availability of productive land, constant change in climatic conditions, and the strict regulatory framework have led to increasing demand for a more effective and efficient agricultural sector. With the advent and implementation of modern technologies, management of the agricultural land becomes more competent. For example, automation technology, sensors, geo-mapping, and big data analysis tools help evaluate climate and soil data, which increases the overall efficiency of agriculture.

Innovation and technology have led to major developments in various sectors, and agriculture is one of them. Sensing technologies, software applications, communication systems, data analytics solutions, and positioning technologies are some of the latest technologies used. Various technologies, like driverless machinery and drone crop dusters, provide vital opportunities for the growth.

In 2016, North America dominated the precision farming market with a share of about 50%. The United States and Canada dominate the market share in this region. Large-scale farmlands, ever-existing need to increase yield, and high labor costs will drive the market in the region. The farmers are highly skilled and willing to embrace new technologies. However, most of the agriculture farms and farmers rely heavily on exports to sustain revenues and prices, which may change the market dynamics in the near future. Asia-Pacific has been identified as a region that is yet to reach its maximum potential in this domain.

Will global precision farming show an unprecedented upward growth trend till 2022?

According to a report by a market intelligence firm, the global precision farming market is estimated to reach a value of USD 5.98 billion by 2022, recording a CAGR of 12.97% during 2017-22. In the past 10 years, precision farming has moved from good science to good practice and has witnessed unprecedented growth around the globe. 70 to 80% of the new farm equipment sold today, incorporates some form of precision farming component. Asia-Pacific is expected to be the fastest growing market with a CAGR of about 21% during 2017-2022. The major factor stimulating market growth in Asia-Pacific is augmented yield and profitability, which is pushing farmers toward crop monitoring technology. Australia holds the major share of the market in this region.

Competition Analysis

This market report includes competitive vendor landscaping of 17 companies involved in the precision farming industry, including big players, like AGCO Corporation, Ag Leader Technology, Monsanto, Deere & Company, and Lindsay. The market of is fairly fragmented with the presence of several local and regional players. The market of precision farming is still an emerging market, however, brand loyalty in certain segments is reportedly good. Farm machinery and service support are the two major segments that have brand loyalty.

First Offense DUI

There are strict penalties for a First Offense DUI conviction. If you are arrested for a First Offense DUI in Michigan, here are some of the penalties you are facing upon conviction.

  • Operating While Intoxicated (OWI) $100 to $500 fine:
  • Up to 360 hours of community service.
  • Up to 93 days in jail.
  • Possible vehicle immobilization.
  • Driver license suspension for 30 days, followed by restrictions for 150 days.
  • Six points added to driver record.
  • Possible ignition interlock.
  • $1,000 Driver Responsibility Fee for two consecutive years for OWI.
  • $500 Driver Responsibility Fee for two consecutive years for OWPD.

Not only is an arrest for a First Offense DUI embarrassing, it can cost your job, thousands of dollars in legal fees leaving you and even fear about what is what your future holds.

You need to find a good lawyer to help you fight your first offense DUI charge. You need to find a lawyer that is dedicated to providing their client with an aggressive drunk driving defense no matter the complexity of your OWI/DUI case. Most good lawyers offer a free OWI/DUI case evaluation to help you better understand the complexity and uniqueness of your case. A good drunk driving defense strategy aims for the absolute best results.
While the law is the same throughout Michigan, local courts often employ differing procedures in how they handle such cases, and it is important to have an attorney representing you who is familiar with these differences and able to use them to your advantage.
Being stopped and put under arrest for drunk driving is an embarrassing event. The penalties are extreme and are becoming tougher by the year. If you are arrested for DUI, OWI or impaired driving, you probably have many questions such as: am I going to jail? Will I lose my driver’s license? Can I take my case to trial and win? Again, a good Criminal Defense Lawyer can help you figure out these issues with you. Do not face these kinds of charges alone.

Depending on the facts and circumstances of your case and your previous record, a drunk driving conviction can result in jail time, significant fines and costs, community service, work crew, loss of your driving privileges and probation.

I am amazed at how many times I see people think they can handle a first offense dui offense by themselves. This is a grave mistake. Always have a lawyer by your side when you are facing a dui charge.

Posted in |

What to Look for When Buying Pearls – Top Tips

Here are some top tips for things to look for when you’re buying pearls.

Please note, there is no discussion here relating to increasing in value over time – i.e. an investment. Generally speaking, it is unwise to consider the purchase of any type of jewellery from an investment viewpoint because values can rise or fall over time.

Check to see if the pearl has been artificially colored

This isn’t, in itself, necessarily a problem. Typically though, purists will look for naturally colored pearls and they might well command higher prices.

Things that might indicate the pearl has been artificially colored include:

  • color seemingly “wearing off” the outer shell;
  • a very dark core (indication of possible irradiation to change colours);
  • a very visible stratification of colour change on the inside of the pearl.

The final two above assume your pearl has a drill hole that you can look into with magnification.

Examine the regularity and symmetry of shape
Tiny irregularities of shape can be seen or felt – and that’s typically a good sign.If your pearl is perfectly round and perfectly smooth over its surface, then you’re probably looking at an artificial not natural (whether wild or cultured) pearl made from synthetic materials.

However, even if you have a real pearl, remember that significant deformations and irregularities may (or should) reduce the value if they’re particularly evident or severe.

Look at the lustre

Peals may vary in both body colour (their background colour) and their overtones (a surface shimmer of colour). Some may not have an overtone and that is not a problem. A lot will depend upon your own colour preferences.

However, this is very difficult to describe but look for pearls that gently shine. If they’re a dull matt finish it might indicate that there has been some damage (e.g. poor cleaning techniques with acid) that has taken the lustre off.

That can hugely reduce both value and appearance.

Read the advertisement’s wording carefully

Terms used in some pearl advertisements which may mislead (intentionally or otherwise):

Pearls from Japan“. That phrase would be true for pearls farmed in say China, shipped to Japan and then sold-on from there. Look for “farmed in Japan” to be sure – if that’s what you’re looking for;

Certified“. By whom? To what recognized standards? Remember, a label attached to your pearls means nothing if it’s just the seller’s.

Real pearls“. That should exclude synthetics but it’s ambiguous in terms of whether your pearls are natural (i.e. found in the wild – which is VERY rare today and they’re very expensive too) or cultured.

AAAA Grade“. Gradings are not standard across the globe or universally recognized. Trust some of the other tips on this page and your own common sense.

Price

Typically, if all other things are roughly equal, from most to least expensive pearls run:

  • natural/wild (sea);
  • cultured (sea);
  • freshwater;
  • synthetics.

If you see cultured pearls advertised at a price close to a set of essentially plastic ones, then something’s gone wrong and you should be sceptical.

Summary
  • If you have any doubts, you should contact an expert retailer for advice and guidance.
  • It might save you money and disappointment downstream.

Some Laws To Protect Your Automobile

People tend to face numerous issues with respect to their automobiles. Some of the most common problems that people face are:

  • Buying a defective car and getting refused a refund, fixing and replacement by the manufacturer.
  • After completing a final loan contract, you are asked to sign a new contract with higher down payment.
  • You are trapped with deceptive advertisements and you have been sold a more expensive car.
  • Dealer conceals optional add-ons and undervalues the trade-in during fixing of the deals.
  • Your car is repossessed without your consent by the creditor.

Know Your Rights

There are different laws that save the consumers from auto fraud. Here is a list of various laws and their scheme of protection.

Magnuson-Moss Warranty Act

This law is utilised when a contractor, warrantor or supplier denies complying with a service contract, written warranty or implied warranty.

State Repossession Laws

These laws state that:

  • Your car cannot be removed from a locked garage by the car repossession company without your consent.
  • You can put your car up in auction or you can pay the full money in order to buy back the car.
  • On paying repossession costs or reinstating your loan, you can get your car back in some states.
  • Your car must not be sold below market value.
  • You should be informed whether the creditor will put the car up for auction or not.

State Lemon Laws

Those cars are dealt by lemon laws that have been repaired many times for the same defect. Different states have different lemon laws.

  • Your car should be replaced or refunded by the manufacturer for a substantial defect after four tries.
  • Your car should be refunded or replaced for a safety defect after two tries.

Truth in Lending Act (TILA)

According to TILA, interest rates and other information regarding the loan should be disclosed by the lenders before processing a loan. You can get the best auto financing rate with the help of TILA.

Unfair, Deceptive, or Abusive Acts or Practices (UDAP)

You are protected by UDAP from deceptive, unfair and false acts including the false advertisements.

Contacting an Attorney

You should know about the following, if you want to contact an attorney.

Repair Record

Keep record of the timing of the car when it is out for service and keep track of the repair attempts. Every time you repair the car, do not forget to submit a dated and written list of problems to your dealer.

Notice Required

Before entitling to a replacement or refund, you must go through the notice requirement of your state.

Your Refund or Replacement

Ask the manufacturer for a replacement or refund only after confirming that your car is qualified as a lemon. You may have to go through arbitration if a valid arbitration program is incorporated into your written warranty, in order to get your replacement or refund.

Posted in |

15 Things Not to Do in Japan

If you have plans to visit Japan, there are some things you need to know. Familiarizing yourself with some basic Japanese cultural practices will go a long way in making your trip there enjoyable. Also, you are not likely to get into trouble. Here are things you should not do based on Japan culture.

1. Don’t enter a house wearing your shoes

Are you used to walking around in your house in your shoes? Well, you might get yourself in trouble if you do that in Japan. There is a special place where you should keep your shoes before entering the house. Also, there are slippers for guests when entering a room.

2. Don’t shout on the train

Trains are very common in Japan. However, people don’t make noise while in trains. They are always silent. If you have to speak to someone, do it in a low tone. Use your earphones if you have to listen to some music.

3. Don’t use your phone on trains

As indicated earlier, Japanese don’t like any noise in the trains. You will rarely find someone using his phone to make a call in the train. If you have to use your phone, send a message or talk in a low tone so as not to distract other people.

4. Don’t eat on trains

Japanese do not eat when traveling on commuter trains. Drinking is okay unless the train is too crowded. However, in long distance trains, eating and drinking are allowed. Food and beverages are also sold in such trains.

5. Don’t forget to remove toilet slippers

Once you get to Japan, you will notice that there are slippers only used when going to the toilet. These slippers are easily noticeable since they have particular words or pictures. Always remember to remove them when entering your house or walking on the streets.

6. Don’t tip anyone

While it is common to tip anyone after an excellent service in many cultures, Japan is an exception. No matter how satisfied you are with their service, they never accept tips. In fact, someone will come running after you, returning the tip!

7. Don’t ignore someone you are speaking with

If you are talking with a Japanese person, always stay calm and attentive. You may sound impolite and rude by just failing to show that you have understood a point. Whenever speaking, show your attentiveness by talking back.

8. Don’t photograph everything

Despite Japan being a beautiful country, you are not allowed to take photos everywhere. It is advisable to always ask someone before taking photos. You must be granted permission to take pictures in museums, temples, and shrines.

9. Don’t hug anyone you meet

Hugging is common in western countries. However, in Japan, it is not. You don’t hug someone you come across in Tokyo streets. Most of the older folks don’t like the habit. If you want to hug someone, then it’s best to know their age group and whether they are comfortable with it.

10. Don’t eat or drink when walking

It is uncommon to find Japanese eating or drinking while they are walking. Even on the streets with food stalls they always find a place to sit. Now you know how to behave when you are on Japanese streets so you don’t look foreign.

11. Don’t receive a present with one hand

Whenever receiving a gift or a visiting card from a Japanese, use your two hands and bow. Then tell him thank you. On receipt of a gift, don’t open it until the person who has given it to you has left.

12. Don’t throw away trash haphazardly

Another thing you might find hard to get used to is how to handle your trash. In most cities around the world, there are a lot of trash cans however, Japanese cities are different. People are encouraged to carry their trash until they find a place to dispose of it.

13. Don’t fail to say “thank you”

The verb “thank you” is highly valued in Japan. Learn to say it after being served in a hotel or store. Familiarize yourself with how bowing is done in Japan. You must always bow and say thank you when you meet with elders.

14. Don’t write down a person’s name in red ink

In Japan, it is OK to write “goodbye” in red ink but not a person’s name. The Japanese consider it to be disobedient. Therefore, if you have to write down your Japanese friend’s name, you know which color to avoid.

15. Don’t be shy

It is common for tourists to ask for help from locals. When you get to Japan, don’t be shy or afraid of asking for anything. They are very friendly and helpful. Even when you accidentally forget something somewhere, go back as no one is going to take it away.

Shadow Inventory – What Is It and How to Find It

Many Investors have been asking me about shadow inventory how much is out there and how to get their hands on it. Shadow inventory usually refers to the supply of homes that has not yet hit the market, but “hiding” in the background. In Real Estate this refers to foreclosures (REO or bank owned properties) or those close to the process.

Banks and mortgage loan servicing companies typically hold onto properties that haven’t seen a mortgage payment for 90 days and in some cases even 2-3 years.

Why do they hold on so long?

Banks hold on since it allows them to release their inventory over time to keep their books in check and also to provide that easy liquidation to stimulate the real estate economy when necessary. Banks will now be getting more money for those newly released properties, then say 2 years ago, due to the steady increase in home prices and low inventory levels. If they chose to release all at once, it would flood the market with “distressed properties” and bring down property values.

How much “Shadow Inventory” is still out there?

Foreclosures have been steadily declining since 2013 with the highest shadow inventory then at 2.2MM. According to the National Association of Realtors, there is still about 4 years still on the books and it is possible that we could soon see more!

More “Shadow Inventory”? Why? (HAMP) Home Affordable Modification Program

In 2017 and beyond, many homeowners may find it difficult to make their mortgage payments due to “resets” with HAMP thus pushing them into foreclosure. The government’s Home Affordable Modification Program provided temporary relief to borrowers during the housing crisis. These reliefs ended after five years and now payments will be “reset” thus causing loan payment increases for nearly 900,000 homeowners. Some of those are likely to find it difficult to keep up with the payments in our current economy.

Where do Investors find “Shadow Inventory”?

Forget about calling the loss mitigation department or asking the cashier at your Big Bank. They won’t be able to help you. Instead, savvy real estate investors can approach the REO departments of smaller regional banks, credit unions and portfolio lenders to find out what could be “lurking” in the shadows. This presents an opportunity to beat out the competition and purchase at greater discounts.

But my favorite way to locate “Shadow Inventory” is what I call “Driving for Dollars”. Simply drive through areas that have high foreclosure activity and look for the white sticker posted on the front window or door of the house. This typically contains the information of the bank or asset manager of the property and their phone number. Give them a call and see where they are in the foreclosure process and if they’re ready to make a deal!

The NEW kind of “Shadow Inventory”!

There is a new kind of shadow inventory on the market these days and I’m not talking about the REO kind. Many successful agents have their own shadow inventory. If you’ve been in the business for an extended period and built up a clientele, these clients typically contact you well in advance of the property going on the market. You advise them of the steps needed to get the house ready to show which typically means doing repairs such as paint, carpet, landscaping, staging, etc. Therefore, there is a period of time before the property actually hits the market creating a different type of shadow inventory. Contacting your favorite realtor about this type of inventory can definitely increase your chances of finding that Dream home.

Happy House Hunting!

Tips For A Smooth And Convenient Bus Charter Experience

A bus charter is a bus that has a professional driver to handle tours, trips, and other transportation needs. A bus charter can be one of the best choices you make when going for a group tour to a preferred destination. With transport from one attraction to another, you will have all the time to enjoy everything in your itinerary without worries. With a professional driver on board, you can relax and enjoy and even take better care of any children you may be taking with you for the trip. A bus charter also translates into no directions challenges because the drivers are conversant with their locations and all tour sites and routes.

Considering that bus charter are many in any given destination, you need to play your role in selecting one. You may need to start by choosing a company that you can trust with your traveling needs and then make a few considerations to select the perfect bus to hire for your tour.

Get details about the driver. A professional driver is definitely a plus for your tour but you should not assume that they know everything about the sites you intend to visit; they may only know how to get there and nothing more. If need be, consider getting a tour guide to handle your other needs in case the driver is not available for such. It helps to be sure beforehand to avoid disappointments.

Consider the size of the bus. A bus charter can be as large as to accommodate 60 passengers but there are definitely smaller sizes. The higher the passenger capacity the higher the rental rates may be. Look at the size options and select a bus that caters to your group for the tour. Everyone should be comfortable including children in the group so select a good size for everyone.

Check out the amenities included. When searching for the bus charter online, you will get very good photos of the buses. To ensure that you get what you see and need, confirm that the bus you have selected is represented perfectly. For instance, confirm that the leather reclining seats you see are the actual seats you get to enjoy. Apart from confirming the features, also consider the availability of amenities such as compact restroom, DVD player, air conditioning, TV monitors and any other that matters to you. If you want internet connectivity during the tour then inquire if that is available.

Ask about allowed driving length. Most bus charters will allow a specific length of time for the driver to be behind the wheel. The legal limit can range from area to area and you should be willing to be flexible in making adjustments to your tour itinerary so you do not end up with a fatigued driver before even getting back. You, however, want to choose company and driver with a considerable allowance so you enjoy the most from your tour in your selected destination.

Canada & Australia Immigration – Tips to Get Your PR Visa Faster

It is very obvious that when you want to settle in vibrant countries like Canada or Australia, you are keen to have your visa processed at a faster pace. In case of the temporary visas, you can do nothing but depend upon the employer to complete his job related formalities. But, when it comes to processing of permanent residency visas, the ball is always in your court. Permanent resident visas of these countries are issued considering the points applicant can score under respective immigration system. These points are often affected by time, age, work experience, education, spouse skills etc., and these factors eventually effect the success of the visa application. To ensure that your process is smooth and at a faster pace, here are three most important tips to be followed.

Tip No. 1: Apply at the right time-
It may seem astonishing to read but time is certainly a crucial factor in PR visa application. Under the time factor, application can be affected in the following manners:

  • Age: At the time of your application, if you are young you are more successful. This is because these countries have a high demand for professionals who are young (preferably 18yrs-25 yrs). Hence, to settle in Canada or Australia by getting yourself a higher preference and also great career prospects, apply when you are in your most demanded age range.
  • Peak Months: According to research, the best time to apply for Australia immigration is in the months of February and July. These two months are considered peak time for submitting Australia immigration. It is said that often applications during these peak months are associated with higher success results.
  • Intake Periods: Several provinces or States migration programs of each country have specific intake periods of PNP/State nomination applications. Keeping the nomination applications ready before these intake periods often results in quicker intake, improving chances for a quick visa.

Tip No. 2: Boost your CRS Score-
You may be aware of the fact that Canada & Australia have an immigration system that operates through a points based structure. Candidate’s eligibility as well as success for an international permanent residency status majorly depends on how well he can score under the points based system. If you believe that your score is hindering the success of your application, here are some ways by which you can improve your points.

    • Improve qualification: To improve your score, the best and easiest thing you can do is improve your qualification. If you a graduate, a higher degree will eventually increase your score and preferences for selection. Likewise, any certification or diploma that boosts your nominated occupations will also be a good step towards a score improvement.
    • Enhance work experience: Highest work experience candidates get good points under Canada and Australia’s points based system. If you have a chance to improve your work experience before your application or while your application is in process, go ahead, work hard and update. This may eventually increase your score and chances for a quicker visa.
    • Re-attempt IELTS: To become an international permanent resident, applicants must prove their proficiency level in the English language. For this IELTS is mandatory. As an applicant, if your IELTS score is what is delaying the process or getting you less score, re-attempt your IELTS. The best suggestion for improved results is to go for an expert help in preparation for IELTS.
    • Include Partner Skills: If your spouse or common law partner is accompanying your immigration, it is best to include his/her skills in the application, provided that she/he is eligible. This is because PR visa applicants are allotted with additional points for partner skills and this eventually increases points.

Try State/Province Nomination: If you meet the eligibility requirements of a respective State or Province, applying for a State Nomination increase will increase your points and also boost your chance for quick visa success.

Tip No. 3: Get Expert Assistance-
Despite all your efforts, if you are still unable to fetch those great points to buck-up your process, then you may missing something that only an expert eye can catch. Get in touch with your city’s best immigration experts and get counseled about the aspects that will help you in your application. Since immigration experts are up-to date and have hands on experience in processing thousands of visa cases, they will help you analyze the loopholes of your case (if any) and show you ways towards a quicker success.

Posted in |

Different Applications Of An Industrial

An industrial oven is like a heated chamber that is used for a number of applications and also considered as thermal processing machines. A number of industries demand for the device and their need varies as per their application. Every single person when heard about the oven, so, they think of baking food in the kitchen, but, no it has many other applications other than just baking, which increases its demand in the market and especially in the industrial sectors. In case you are not aware of any of its applications, so, here we are to help you out. Read the article below and get to know about its wide applications that help you know a bit more about the device and its requirement in the different industries.

Here Are Some Common Application Of Industrial Ovens:

Powder Coating: Powder coating is important to create an extra layer of protection to the object and powder coating ovens are used for such coating, as it helps in heating to fuse into a layer when the desired temperature is reached.
Drying: The application of drying means removal of moisture from products before packing them, which ensure their long-life. And Drying Ovens are the ones that are designed for the same purpose and very helpful in removing the moisture.
Baking: Baking application here means the baking of the final products, which is performed by the industrial oven by incorporating the function of curing and drying as well. The device successfully performs this function because of its heated chamber that is meant to use for such purposes.
Curing: Another application for which an industrial oven used is curing. The device mainly coated the material to a specific temperature and holds it for a longer period.
Sterilizing: Last but not the least is sterilization. Yes, Industrial Ovens mainly the Hot Air ones are used for the purpose of sterilizing laboratory and surgical equipment like Scalpels, Spatula, Surgical Blades, and Glass Syringes, etc. The device uses dry heat to perform the process of sterilization.

Each of its application requires a specific amount of heat and different type of industrial oven and therefore, considering your application is important before investing in the device. To get a quality and feature-rich device, you should buy it from a reliable company that offers only the quality solutions. The device is available at reasonable price and offers you plenty of benefits and aids you attain your industry requirement.

Plans for Your Business Venture

Whatever the health and condition of your business venture, it will benefit from planning. Business planning of all types provides a road-map that guides the leadership team to successfully achieve business goals.

I’ve taught business plan writing for more than 10 years and I’ve also developed a one-day business plan writing workshop. As I see it, the process of business planning gives company leaders opportunities to see the big picture and remove “magical thinking” from the process. Business planning first reveals if the proposed goals are potentially viable and second, requires that we devise strategies that will make them a reality.

What your team wants to achieve will shape the plan that is written. For example, if the mission is to launch a start-up that will require significant outside investment, then the plan will include detailed financial projections. Additionally, marketing strategies that delve into customer acquisition, the competitive landscape, the logistics of the product or service launch, messaging and sales distribution, along with operational aspects such as manufacturing, staffing and quality control, must be thoroughly detailed.

Solopreneur consultants will focus heavily on marketing, in particular defining the target clients and client acquisition; providing services for which there is adequate demand; and appropriate pricing. Financial planning will focus on allocating the budget to support promotional strategies and marketing campaigns.

Whether the plan will be used to launch a big venture and attract outside investment money or open a boutique-style consulting service, include the following elements:

EXECUTIVE SUMMARY

Present the business mission statement here. Include as well the date the business was formed; the leadership team and other key management personnel; the credentials or experience that make you and the leadership team uniquely qualified to launch and successfully run the venture; the business legal structure (LLC, Sole Proprietor, or Corporation); the products and services; one or two key competitive advantages; a concise overview of sales projections; and the amount of capital needed if recruiting investors or obtaining bank financing is a goal.

BUSINESS DESCRIPTION

It’s traditional to present a brief description of your industry and its outlook, nationally and regionally. Give the details of your products and services and briefly discuss how they’ll be used by target customers. Identify whether the venture is B2B, B2C, or B2G. If the organization holds a patent, review the competitive advantages that it will convey. Have there been any technological advances that will help or hinder the enterprise? Divulge the details here.

MARKETING

This element is a big tent that encompasses sales, product or service distribution, competitors, advertising, social media, PR, networking, branding, customer acquisition and pricing. Plans written for a small organization will spotlight the role of marketing because for Solopreneurs, success hinges on identifying and reaching paying clients, as well as pricing the services advantageously.

FINANCE

Whether you’re wealthy enough to self-finance or the venture is small and not especially demanding of capital investment, the leadership team nevertheless needs to know with a reasonable degree of certainty how much money will be required to achieve important goals.

The plan might be written to support financing for the acquisition of new office space, additional staffing, or manufacturing equipment. Bank loans typically require a business plan to demonstrate how the investment money would be used and how the organization will generate funds for loan repayment.

If the goal is to attract investors, they’ll need to be convinced by the projected sales revenue figures (as will the bank), so they’ll know when their investment will be repaid and when to expect profits if they are made co-owners of the business. A break-even analysis, projected income statement, projected cash-flow statement and projected balance sheet are required by those who will need significant money.

OPERATIONS

How will day-to-day business processes function? Tell it here, along with providing the organizational chart, the business location, the method of producing that which you sell (if you are, for example, a freelance book editor or graphic designer, you produce the service yourself), your usual sub-contractors (if you are a special events organizer, who are your preferred caterer, florist and limo service?) and quality control methods. This element is about logistics.