How to write a business plan

Any successful entrepreneur will tell you that a good, solid business plan is essential for any new enterprise. It serves not only as a way to secure external funding, but enables you to set objectives, track your progress, measure success and spot potential pitfalls.

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If you are about to embark on your own new venture, here are a few tips on how to put together a realistic start-up plan.

What should it include?
Your business plan should provide all the details of your planned enterprise, from sales and marketing to personnel and finances. It should begin with an executive summary, an overview of the whole business, a brief description of what, how and to whom you plan to sell, your sales and marketing strategy, personnel and operational details such as how many people you plan to recruit and information on production, premises and IT requirements, and, perhaps most importantly, your financial forecasts.

Getting each section right requires a good deal of thought but the process of writing your plan will help you to focus on exactly how you plan to make a success of the business.

The executive summary and business description
The executive summary is more important than you might think, particularly for anyone hoping to secure funding. Many investors or lenders will make an initial decision based solely on this first section so getting it right is essential.

It is basically a synopsis of the key points contained within your plan, and should include key features from each section, written in a clear and concise manner. The reader should understand what your business is about and want to read on.

The business description should be brief but include a little more detail. Provide an overview, ie. type of business and sector, your relevant business history, legal structure and your vision for the business. It should also reveal exactly what products or services you plan to offer, and must reveal why and how you believe there is a market for your idea as well as how you plan to develop and progress the business.

Sales and marketing
Defining your market and your position within it is a must for any entrepreneurial venture. Full awareness of the marketplace is essential so any market research that you have carried out should be included here. This is also the place to show that you recognise and understand your target audience and the competition.

With this in mind, you should describe exactly how you plan to position and market your product with a full marketing strategy. Information on pricing, marketing and advertising, including costs, and your proposed method of selling are the key factors to include.

Personnel and operations
It may be that you will be flying solo when you first start the business, but if not, it is important to show any potential investors who, where and how your team fits into the business, including advisers such as accountants or lawyers. Those setting up a business as part of a team should include a brief paragraph detailing each person's background, experience, qualifications and skills, as well as showing their commitment to the business.

Details of your operations, meanwhile, should focus on elements such as premises - the what, where and how much or your planned location - production facilities, whether outsourced or not, with details of capacity, equipment required or external suppliers, and details of IT systems and procedures for stock control, management of the accounts and so on.

Financial forecasts
One of the most important elements of your business plan is the financial forecast section, and any information you give will be scrutinised so it's essential that the figures stack up.

Start-up costs, overheads and working capital should all be estimated, as well as projected sales income, an realistic estimation of the profits and loss you expect to make, and a cashflow projection for at least the first year's business. Running costs and your personal living costs should be taken into account, as well as repayments made for any business borrowing. Always include a contingency fund (25 per cent is a good starting point) in case the business is slow to take off. Once you have worked out your expenses, compare them against your sales forecast. If the figures don't match up, you will need to find ways to reduce costs or boost sales.

Other tips for a top-notch business plan
Remember that your business plan can be tailored to a specific audience. For instance, if you are hoping to secure external funding, you may want to focus on detailing the return they can expect on their investment and the timeframe for those proposed returns.

Lastly, do ask an independent source to review your plan and offer constructive criticism. Business Link, which also provides an online template for business plans, in your local area should be able to help and offer excellent advice on how you can improve and perfect your plan.

Being selfish makes us happy - so long as we avoid the guilt

Being selfish really does make us happier - so long as we can avoid feeling guilty, according to a new scientific study.

Although we are taught the benefits of kindness and altruism, it seems we are happiest when simply told to pursue our own self-interest.

Researchers found the key to contentment is feeling we have no choice but to be selfish.

In contrast, the study, carried out by psychologists at the University of Pennsylvania, found that those who actively choose a selfish path usually have to battle with guilt.

They speculated that because we're taught as children that 'sharing means caring', if we make a decision out of self-interest, we often feel bad for prioritising ourselves over others.

But that frequently means we forego the things we know will make us happy.

Psychological scientists Jonathan Berman and Deborah Small of the University of Pennsylvania carried out tests to see when people feel happiest.

In one they recruited 216 undergraduates and gave them each 3 dollars.

Some were told to donate it to the charity UNICEF, some were told to keep the money and some participants were told that they could choose what to do with it.

Those students told to keep the money for themselves reported being far happier with the outcome than those who were told to donate the money and those who were free to choose.

Mr Berman said: "Often what people really want to do is act in a selfish manner.

"But they don't do that, because they know they would feel selfish if they did."

The research is published in Psychological Science, a journal of the Association for Psychological Science.

Study finds interesting facts about teenage sex

A government survey on the sexual behavior of Americans has been released Friday with some surprising findings about what young men and women in this country prefer sexually, reports theHuffington Post . One of the most shocking findings was that fewer teens and young adults are having sex, according to the latest statistics published by the Centers for Disease Control and Prevention (CDC).

Another big trend found in the study was the prevalence of oral sex. Most teens reported having oral sex before having intercourse. While this might be positive information in regards to unplanned pregnancy, there is still risk of getting an STD if teens engage in oral sex.

"They may think they're doing something safer because they're having oral sex," says Anjani Chandra, a health scientist with the National Center for Health Statistics, which contributed to the study according to CNN . In reality, Chandra said, while such behavior certainly avoids the risk of pregnancy, it still puts young people at risk of acquiring a sexually transmitted disease.

The survey also examined same-sex relationships in America. The results showed that women were much more likely to have a same-sex experience, and that the more sexual partners a woman has, the more likely she is to have a same-sex encounter.

Read below to find out the seven most surprising facts from this study. 

1. Abstinence is up. Researchers found that in 2002, about 22 percent of males and females between 15 and 24 reported that they had never engaged in sexual contact. But in 2006 and 2008, about 27 percent of men and 29 percent of young females reported that they never had a sexual encounter.

2. Most teens lose their virginity before the age of 17. Of the more than 24,000 15 to 24-year-olds tracked between 2007 and 2008, the majority (approximately 18,000) reported losing their virginity at age 17 or younger. Approximately 4,000 reported they had intercourse for the first time between 18 and 19, while approximately 1,600 reported losing their virginity between 20 and 24.

3. Most teens try oral sex before intercourse. The CDC said that just over 27,000 15 to 24-year-olds reported having oral sex at least once between 2007 and 2008. Of that number, 51 percent reported they had oral sex before their first vaginal intercourse experience.

4. Same-sex activity is up in women, down in men. The number of females between the age of 15 and 24 who reported some same-sex sexual behavior is up. In 2002, 12.4 percent of females said they had engaged in some form of same sex behavior; in 2006 to 2008, that figure was up to 13.4 percent. For men in the same group, however, the percentage fell. In 2002, 5 percent reported some same sex activity; between 2006 and 2008, only 4 percent did.

5. Women are more likely to have a same-sex experience. When researchers opened that same question (of same sex behavior) up to all study participants -- age 15 to 44 -- the differences were even more pronounced. Women were twice as likely to report a same-sex experience than men (about 12.5 percent versus 5.2).

6. Women with more partners are more likely to have a same-sex encounter. Women who reported having four or more sexual partners were more likely to have had a female sexual partner, when compared with women who had one (or no) male partners. In men, however, the number of female partners did not vary the likelihood of a same-sex encounter.

7. Bisexuality up in women, down in men. The number of women who reported being bisexual was up from 2002, from 2.8 percent to 3.5. In men, however, it was down -- from 1.8 percent to 1.1. Also interesting: In 2006 to 2008, women were approximately three times more likely report that they were bisexual than men.

The scientists explained why do men fall asleep after sex

Scientists have figured out why men quickly fall asleep after sex. According to specialists from the French Medical Center Inserm, after a brain scan before and after orgasm, it became clear that his thinking part, namely the cortex, shut off after intercourse. 

Next the brains cortex and amygdala give click Disable sexual desires. All this is accompanied by the release of oxytocin and serotonin, which provide powerful hypnotic effect. «These experiments gave us the first hints of what happens in the brain during orgasm. After the men usually suffer from nevozbudimosti when you can't wake up,» - said neurosurgeon Serge Stoleru. 

As a result the man turns and fast asleep, while the female partner wants to talk and continue. «Women seem to be, everything is different. They do not have such a strong phase of nevozbudimosti, and they want to continue when the man just needs to rest», - added the scientist, noting that the human brain involved in all subsequent steps to sexual behaviour. 

Women to men are such reaction was extremely negative. According to recent research from the University of Michigan in the United States, many of the fairer sex feel aggrieved and unwelcome when a man falls asleep right after sex.

Skype users targeted in security threat

Skype is being used by hackers to spread a malicious 'worm' that infects Windows PCs and can lock users out of their machines.

Skype users are warned not to click on any messages or links that they do not recognise.

The security threat comes in the form of a seemingly innocent instant message on Skype saying "lol is this your new profile pic?" When users click on the message they unwittingly download a file containing a Trojan horse malware file.

This Trojan horse opens a backdoor, allowing a remote hacker to take control of the infected PCs.
"Before you know it, your computer has been recruited into a botnet [security threats that spread via Facebook, Twitter and instant messengers] and could fall victim to a ransomware attack," explains a spokesperson for internet security specialist, Sophos.

Security threat
Skype has not disclosed how many users are affected by the threat. It said in a statement: "Skype takes the user experience very seriously, particularly when it comes to security. We are aware of this malicious activity and are working quickly to mitigate its impact.

"We strongly recommend upgrading to the newest Skype version and applying updated security features on your computer.

"Additionally, following links - even when from your contacts - that look strange or are unexpected is not advisable."

Suspicious links
Sophos warns that Skype users may be less in the habit of being suspicious about links sent to them than, say, Facebook users.

"Always remember to be suspicious of unsolicited out-of-character messages sent to you by your online friends," said a spokesperson.

"You don't know that it was a friend who sent you the message, all you know is that it was their account which posted it to you... and who knows if it was compromised or not?"

Why It’s Important to Feel Valued At Your Job

Why is it that sometimes at work, you go that extra mile, while at other times, you may take off early or do only the bare minimum?  Sure, stress plays a role, as do family obligations and your physical health.

But when you consider primarily just work factors, which ones have an impact on your job performance?  Certainly pay rate, benefits and time off are linked to job performance. 

However, according to a survey by the American Psychological Association (APA), feeling valued is a key indicator of job performance.  Employees who feel valued are more likely to be engaged in their work and feel satisfied and motivated.

What can you — and companies — do to help improve your feeling valued at your job?

Work Stress

This same APA survey found that three-quarters of Americans list work as a significant source of stress, with over half of those surveyed indicating that their work productivity suffered due to stress.  Nearly half of those who say they do not feel valued report they intend to look for a new job in the next year.

Work stress and unhealthy work environments intensify workers sense of being undervalued and can contribute to absenteeism and lack of productivity when employees are at work.

What Can Companies Do?

It is essential for employers to recognize the connection between employee well-being and organizational performance.  The results of this survey indicate that organizational culture has an impact on employee performance.

Organizational culture is the ‘personality’ of an organization.  It includes company norms, values and behaviors towards the members of the organization.  According to a report put out by the New York State Office of Alcohol and Substance Abuse Services, a healthy organization promotes personal and professional growth, fairness, open communication and shared values.

To improve retention and employee’s feeling valued, companies can assess the organizations current degree of wellness, determine important company values and norms and lead by example and through communications with employees.

What Can You Do?

What you can do when you’re feeling undervalued depends on your position in the organization and your relationship to your co-workers and supervisors.  If you are a manager and in a position to make changes to the organizational culture, for example, your course of action will be different than if you have little control over the culture.

Talk to your supervisor.  Your supervisor can make some changes to your work environment.  Speaking to your supervisor about your feelings and discussing small changes that would make you feel more valued can help.  Before you have this conversation, it’s important to consider your relationship with your supervisor, to reflect on what types of changes your supervisor is capable of making and to consider your history and performance and whether you have given as much as you are asking for.

Get support from co-workers.  Positive relationships with co-workers can help you maintain motivation and can provide reinforcement for quality work.

Assess your long-term vs. short-term needs.  All companies fluctuate in their responsiveness to employees.  It is important to determine whether sticking it out in the short-term is in your best interest for the long-term or whether you would regret taking not action now.

If you find yourself checking out mentally at work, making mistakes that you wouldn’t have in the past or simply not caring about your performance, consider whether you are feeling appreciated.  Knowing what contributes to your dissatisfaction can help you make decisions about how to handle it.

Benefit cuts will squeeze vulnerable out of London, say housing associations

George Osborne's benefit cap will leave 250,000 people at risk of losing their homes, says National Housing Federation

A housing estate in the City of London. More than 250,000 people are at risk of losing their residences, according to the National Housing Federation. Illustration: Dan Kitwood/Getty Images

Almost 300,000 people are at risk of being squeezed out of their properties in London because of the government's plan to reduce housing benefits paid to some of the most vulnerable people in the country, campaigners warn today.

The exodus, says the National Housing Federation, the main voice for the country's housing associations, would follow George Osborne's plan to peg housing allowances next year to the bottom third of private sector rents. At present claimants get allowances calculated on the bottom half of private rents.

The federation calculates that, if enacted, the changes would see the rent charged on 114,000 homes occupied by benefit claimants in London become unaffordable – leaving more than 250,000 people "at risk of losing their residences". Osborne's move would not just affect wealthy areas such as Westminster but also poorer parts of the capital such as Lambeth and Southwark.

The research, which is based on official government figures, backs the claim that poor and vulnerable people will no longer be able to live in the capital – forced instead to go to London's fringes or pushed into "overcrowded conditions". Labour MPs accuse the government of attempting to "socially cleanse" the capital of poor people.

David Orr, the federation's chief executive, said: "London is one of the most vibrant and socially mixed cities in the world – and yet the diversity, for which it is so famous, is under threat from the government's proposal to bring all housing benefit allowances into line with the bottom third of rents.

He said: "The changes push 160,000 vulnerable households into competing for just 46,000 homes [which] is extremely worrying and morally wrong."

While some landlords could reduce rents in line with the new upper limit, the federation says that the housing market in London is so strong that most would simply decide to keep their charges at the same level and let properties out to private tenants.

The government remains undeterred, saying the housing benefits bill is "out of control". A spokesperson for the department of work and pensions said: "It's not right that some families on benefits were able to live in homes that hard-working families could not afford."

The shadow secretary of state for work and pensions, Yvette Cooper, described the data as "shocking" and called for ministers to discard the proposals. "From this April huge numbers of families will be forced to move far from their children's schools or parents' jobs; thousands of the poorest pensioners will be forced to move far from their GP, neighbours or support services."