The Main Goals A Financial Plan Should Accomplish

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The Main Goals A Financial Plan Should Accomplish

By: Teresa Kaufman

This article is going to briefly touch on the main things a financial plan should accomplish. You don't need a professional to help you draw up your own financial plan, but you might need professional advice and help to put some of your plans into action.

Such as advice on your insurance needs to make sure you, your family and your home are adequately covered, tax advice to make sure you are not paying too little or too much, investment advice to ensure that you can reach the amount you would like to retire with while still putting money aside for your children's education and advice about what to put or not to put in your will.

Those are the things you should speak to a professional about, but you should have your financial plan worked out before you speak to one so that you can let them know exactly what you wish to accomplish with your plan. Your goal is financial success; your method for reaching that goal is your financial plan.

After you have drawn up your plan is the best time to speak to a professional financial planner. They will be able to let you know whether or not you will be able to accomplish those things in your current situation after looking at your total financial picture.

Your plan must take into consideration all of the goals you have set for yourself in order to achieve financial success. It should also take into consideration, all of the obstacles and things that can go wrong along the way. No one's life is perfect, things do go wrong, job loss, illness and accidents do happen and should be planned for.

The first thing a financial plan should include is protection for you and your family in the event of disaster. That includes adequate insurance for your family and your property, and an emergency fund.

An emergency fund should be equal to at the very least six month's worth of take home pay. Actually, most financial experts say that now a days, nine months to a year would be best.

If you do not have your emergency fund now, you should have access to an already established line of credit or credit that is readily available to you that you do not touch for any other reason except for an emergency.

If you lose your job or become temporarily unable to work due to an illness or accident, you will not be able to obtain credit without income. So this is some thing that must be able to be in place now and used only in the event of an emergency, otherwise you will have to save up for your emergency fund a over time.

You should also have life, health, long term disability and property insurance. I am not an insurance expert so I am not going to go into the different types of life insurance available you should speak to a certified financial planner about that. I do know that many experts are now saying that term life is preferable to whole life. It is much cheaper and it accomplishes the same purpose as whole life.

I have been told that many of your payments in the beginning of a whole life insurance policy are basically going to the person who sold you the policy as a commission before the money you put in starts building up.

Many people have health insurance available through their jobs. If you and your spouse both work use whichever plan gives you the best coverage, some jobs also provide life insurance up to a certain amount with extra available if you pay a little more. Be sure to check with your employer.

If you own a home you have to have home owners insurance. You need to make sure that if your home was destroyed by fire or some other disaster that your insurance will cover you enough to replace that home and your possessions in that home. If you rent you should have renters insurance to help cover you in case of an emergency.

You should have a household inventory with serial numbers where applicable and pictures of your possessions wherever possible along with receipts if you still have them in a fireproof box or case along with your other important papers. You should do this whether you rent or own a home.

The next thing a financial plan should accomplish is financial security and a comfortable standard of living for you and your loved ones. If you are married and have children, you need to plan for them as well as your self.

If your parents are still alive, you should find out how well they have planned for themselves so you can make provisions for that if you need to instead of it being a surprise to you should one of them become ill or pass away. If you have siblings you might be able to share the responsibility, otherwise if might all fall on you.

Find that out while you are working out your financial plan so you are not hit with a surprise a few years down the road. Nursing homes are very expensive. That could wipe out their savings very quickly and then go through yours too if you have to help them. A few financial questions and asking them whether or not they have long term care insurance in place; could save a lot of unnecessary problems in the future.

Your plan needs to make sure you are paying all of your household bills and expenses, providing some fun and entertainment money, provide care for all of those who depend on you to give them the security they need and deserve and also to ensure that you don't short change your spouse and yourself out of your own retirement needs by providing for everyone else.

If funding your children's entire college education is out of the question, you need to let them know that at an early enough age for them to start their own planning. Let them know approximately how much you will be able to help them and that they will have to get good grades to be eligible for scholarships and grants.

Tell them if a private college is out of the question. Let them know that they will most likely have to go to community colleges or state schools. Talk to them about your financial situation. They might have very unrealistic expectations that you know nothing about because they know nothing about the family's financial situation.

Let them know that your job is to provide a roof over the family's head, make sure there is enough to eat, heat and electricity so everyone can be safe and warm and their job is to get good grades to be eligible for as much aid for school as possible.

As long as they know you love them and that you are doing the best that you can for the entire family, they will understand. Explain to them that as long as they do their job, together you will do everything you can to help them fulfill their goals and dreams for the future within your means.

You have to make sure that you don't get so bogged down in planning for the future for everyone else, you forget to plan for the lifestyle you want to have during your retirement.

Again if paying for college is unrealistic for you, explain to your children that it is not possible for you to do so because if you do you might end up being a financial burden to them when you retire. Let them know you will do what you can.

While the main purpose of financial planning is to have a better future, you also need to make sure you live well today and are comfortable. You won't stick with any plan that has you feeling deprived and miserable for very long.

The next thing a financial plan should include is preparing for a secure retirement. With people living longer than they used to you have to plan for at least 20 to 25 years in retirement, if not more. You need to have plans for maintaining your standard of living, paying for medical care (with the proper insurance in place) and remaining financially independent of your children (by having investments for income) so you will not be a burden to them.

Your plan also needs to keep taxes in mind. Have your financial planner look over your taxes now to see if you are paying too little or too many taxes. They can also advise you on which type of investments will be best for you tax wise. Some investments have more tax advantages than others.

For instance, with a Roth IRA you only pay taxes on the money that your money makes in the IRA when you withdraw it and not the money that you contributed to it. Even if you withdrew every penny that you put into it, as long as you don't withdraw the income that your money made you won't pay taxes on it until you do.

The last thing a financial plan should include is your final provisions, better known as your will. No one likes to think about dying, but let's be honest we all have to do it sometime. Having your wishes drawn up as well as having the appropriate insurance and financial documents all together can alleviate the stress and anxiety for your family.

Grief over the loss of a loved one is tough enough without adding the burden of financial distress to it. Your plan needs to include a will and all related financial and insurance documents with it and an estate plan or trust that is designed to match your financial situation.

To recap the main things a financial plan should include are an emergency fund, insurance to protect you from disaster, financial security and a comfortable standard of living for you and your family now and in the future, a comfortable and secure retirement that provides for you and does not burden your children, making sure you are paying the right amount of taxes now and that your investments are right for you tax wise also and finally putting your final wishes in writing to make sure they are carried out.

While those should be the main components of a financial plan, there are other things that need to be considered. The stage of life you are at now. If you are in your twenties now you can afford to take more risk with your investments because you have more years to make up for any investment losses. If you are in your forties you might want to be a little more conservative.

Your lifestyle is another consideration. If you are a spender and not a saver you have to be realistic about whether or not you are willing to curb some of that in order to have a better financial future. If you have a problem staying away from the credit cards you need to get a handle on that first. If you are the type of person who spends more than they make in order to keep up the perception that you are successful, your plan will not work.

Your plan needs to fit your lifestyle and not the other way around. If you make a plan that forces you to give up too much of yourself in order to accomplish it, you never will accomplish it. Above all else when it comes to financial planning, you need to be honest about who you are financially right now and whether or not you are willing to make changes to have the financial future you want.

You also need to be honest with your family. If your children are old enough include them in the plan making let them feel like they are a part of it and that your overall goal is the financial health and well being of the entire family. This can help to avoid any disappointments that can come from not knowing what the situation is. Letting your family believe that things are much better financially than they actually are will only cause problems in the future.

About The Author

Teresa Kaufman


Copyright 2005-All rights reserved


Personal Budgets To Fit Your Lifestyle, Needs And Wants


This article may be used in an ezine or on a website as long as the author's name copyright information and an active hyper link to http://www.yourdollarsandsense-budgets.com with anchor text that says personal Budgets To Fit Your Lifestyle, Needs And Wants


terri@yourdollarsandsense-budgets.com

Comments

James 14.10.2011. 12:32

What are the main definitions of management ? What are the main definitions of management ?

Is it these =) just want to make sure.

Scientific management
Administrative management theory
Behavioural management theory
Management science theory
Organizationl environment theory
Bureaucracy
Quantitative management
Operations management

James

Admin 14.10.2011. 12:32

Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources.

Admin

pmk5252 08.05.2007. 19:37

Where can I find a good example of a Strategic Marketing Plan? Just lookin for some guidance.

pmk5252

Admin 08.05.2007. 19:37

The content of the marketing plan can change depending upon the business, the author, and the intended target audience. There are lots of great resources, books, and informational sites available to help you with what should be contained in a Marketing Plan.

Mplans.com ( http://www.Mplans.com ) is an informational website maintained by Palo Alto Software that includes market planning advice, tips, as well as free sample plans.

We have many articles on what should be contained in a marketing plan at:
http://www.mplans.com/dpm/allarticles.cfm

Here's a basic outline of the main points in a typical marketing plan:

1.0 Executive Summary
This is a summary of the main highlights of your plan. The contents of the summary should address target markets, market needs, sales prospects, expenses, and strategy.

2.0 Situation Analysis
The Situation Analysis sets the scene as you develop your marketing plan. This is where you look at your company's situation and its market. Consider what your company offers and why, what you do well, and why, and introduce your marketing situation and the main components of the marketing plan.

3.0 Marketing Strategy
The strategy chapter normally includes objectives, target market strategies, value propositions, and strategy pyramids.

4.0 Marketing Mix
Marketing mix combines your marketing programs. It includes positioning, pricing, distribution channels, advertising and promotion, service, delivery, and other factors. The toll-free telephone number, the website, the sales literature, the advertising, and many other marketing programs are all part of the marketing mix.

5.0 Financials
This chapter contains your expense budgets, sales forecasts, and breakdowns by category. Normally it is mainly tables and charts, with texts to explain the numbers in them.

6.0 Controls
As your strategy is implemented, you will want to track your results and monitor new development in the internal and external environments. Is your plan on track with your revenue generation objectives? Are the programs accomplishing your goals? Programs that are not working need to be changed. Programs that meet or exceed expectations should be replicated. This is where the value of a dynamic marketing plan benefits you most.

There are also Market Planning products out there that can help you to create and maintain a marketing plan document. Our software, Marketing Plan Pro ( http://paloalto.com/ps/mp/index.cfm ) includes a wizard driven interface that will guide you through the entire process on a step by step basis.

Admin

A R 29.01.2008. 20:49

Who in Indianapolis, Indiana is involved in facilitating charitable real estate gift annuity transactions? The real estate has no mortgage left on it and we want a life time income stream. Are there fees involved in effecting the transaction?

A R

Admin 29.01.2008. 20:49

If you plan to donate your property to a church or a small charity, you will have to make arrangements mostly on your own, after discussing it with the charity, of course. Some large charities can set this up for you. But while they will normally do it without a fee, I think you are still better off working with a trusts and estates lawyer that you hire (and pay) on your own.

The main problem is that the creation of the kind of trust you are talking about here (called a charitable remainder trust) immediately creates two conflicting interests. You want to get the profits (income) for as long as possible. Obviously, you hope for a long life. The remainder beneficiary--the charity--wants to get at the money as soon as it can.

For example, suppose someone wants to build a shopping center in your neighborhood and needs your land to make the deal. The charity, which will ultimately own the property might want to sell. You might not. That's a potential conflict. A lawyer can set things up the way you want, so that YOUR interests are protected.

In addition, a good lawyer can advise you on the best way to accomplish your dual goals of helping the charity and ensuring your financial well-being. Maybe you should rent out the property, with you getting the rents and the charity getting the real estate after you pass away. Maybe you should donate the property now, have the charity do the renting, and you get a set rate of return from the charity. (This would eliminate your having to find tenants.) Or maybe the property should be sold right away, and the proceeds put into a trust account at a bank or brokerage, where you get the interest and the charity gets the principal when you die.

You need someone smart to help you think through all the choices. In the end, the fees you might have to pay will be worth it in peace of mind. If you don't know a good lawyer, try asking at the trust department of your bank. Most banks have one.

I hope this helps. Good luck!!

Admin

artstheartist 04.07.2011. 04:49

What are some big scholarships I could apply to? I'm a rising senior, and I was wondering what are some of the trusted, non-need-based scholarship opportunities out there for me. Please let me know about any type of scholarship! :)

artstheartist

Admin 04.07.2011. 04:49

Scholarship Points is an easy-to-do (though not an easy-to-win) scholarship that can be fun to do, even if you don't win: http://www.scholarshippoints.com/10K/?sp=1710375

Here are some other great scholarships that you could try (I got them out of this big book of scholarships that I have):

$1,000 Gen and Kelly Tanabe Student
Scholarship
Gen and Kelly Tanabe Scholarship Program
3286 Oak Court
Belmont, CA 94002
Phone: 650-618-2221
Email: tanabe@gmail.com
Website: http://www.genkellyscholarship.com
Purpose: To assist high school, college and graduate school students
with educational expenses.
Eligibility: Applicants must be 9th-12th grade high school students,
college students or graduate school students who are legal U.S. residents.
Students may study any major and attend any college in the U.S.
Target applicant:
High school students
College students
Graduate school students
Adult students
Minimum GPA: None.
Amount: $1,000.
Deadline: July 31.
How to apply: Applications are available online.

All-Ink Scholarship
All-Ink.com
1460 N. Main Street
Suite 2
Spanish Fork, UT 84660
Phone: 888-567-6511
Fax: 801-794-0124
Email: csp@all-ink.com
Website: http://www.all-ink.com/scholarship.aspx
Purpose: To help students who want to pursue higher educational
goals.
Eligibility: Applicants must be U.S. citizens or legal residents who are
enrolled in or plan to attend an accredited college or university. Students
must be high school seniors, college students or graduate students. To
be considered, a student must have a 2.5 GPA or better, must complete
an online application and write a pair of 50 to 200 word essays about
what they hope to accomplish after they complete their college degree
and about who their greatest influence has been.
Target applicant:
High school students
College students
Graduate school students
Adult students
Minimum GPA: 2.5
Amount: $5000.
Number of awards: Varies.
Deadline: December 31.
How to apply: Applications are available online.

College Prowler Essay Scholarship
College Prowler Inc.
5001 Baum Boulevard
Suite 750
Pittsburgh, PA 15213
Phone: 800-290-2682
Fax: 412-697-1396
Email: scholarship@collegeprowler.com
Website: http://www.collegeprowler.com
Purpose: To award students for their advice on entering college.
Eligibility: Applicants must be high school sophomores, juniors or
seniors or college freshmen or recent transfer students. Students must
write essays based on the topics stated on the website. There are monthly
and annual winners.
Target applicant:
High school students
College students
Adult students
Minimum GPA: None.
Amount: $2,000.
Number of awards: 1.
Deadline: Monthly.
How to apply: Applications are available online.

Most Valuable Student Scholarships
Elks National Foundation (IL)
2750 North Lakeview Avenue
Chicago, IL 60614
Phone: 773-755-4732
Fax: 773-755-4733
Email: scholarship@elks.org
Website: http://www.elks.org
Purpose: To support high school seniors who have demonstrated
scholarship, leadership and financial need.
Eligibility: Applicants must be graduating high school seniors who are
U.S. citizens and who plan to pursue a four-year degree on a full-time
basis at a U.S. college or university. Male and female students compete
separately.
Target applicant:
High school students
Minimum GPA: None.
Amount: $1,000-$15,000.
Number of awards: 500.
Scholarship may be renewable.
Deadline: January 9.
How to apply: Contact the scholarship chairman of your local Lodge
or the Elks association of your state.

My Turn Essay Competition
Kaplan/Newsweek
888 7th Avenue, 22nd floor
New York, NY 10106
Phone: 800-526-2595
Email: classroom.service@newsweek.com
Website: http://www.kaptest.com/essay
Purpose: To assist high school students who write a personal essay for
the publication.
Eligibility: Applicants must be high school students planning to attend
a college or university following high school who write a personal essay
that shares an opinion or experience. Selection is based on criteria
including creativity, organization and effectiveness.
Target applicant:
High school students
Minimum GPA: None.
Amount: $1,000-$5,000.
Number of awards: 10.
Deadline: February 1.
How to apply: Applications are available online.

Admin

Shamim 03.05.2007. 17:10

What is marketing plan? Its development and implementation? Does any body have the best answer in detail and if you have the full marketing plan material?

Shamim

Admin 03.05.2007. 17:10

The content of the marketing plan can change depending upon the business, the author, and the intended target audience. There are lots of great resources, books, and informational sites available to help you with what should be contained in a Marketing Plan.

Mplans.com ( http://www.Mplans.com ) is an informational website maintained by Palo Alto Software that includes market planning advice, tips, as well as free sample plans.

We have many articles on what should be contained in a marketing plan at:
http://www.mplans.com/dpm/allarticles.cfm

Here's a basic outline of the main points in a typical marketing plan:

1.0 Executive Summary
This is a summary of the main highlights of your plan. The contents of the summary should address target markets, market needs, sales prospects, expenses, and strategy.

2.0 Situation Analysis
The Situation Analysis sets the scene as you develop your marketing plan. This is where you look at your company's situation and its market. Consider what your company offers and why, what you do well, and why, and introduce your marketing situation and the main components of the marketing plan.

3.0 Marketing Strategy
The strategy chapter normally includes objectives, target market strategies, value propositions, and strategy pyramids.

4.0 Marketing Mix
Marketing mix combines your marketing programs. It includes positioning, pricing, distribution channels, advertising and promotion, service, delivery, and other factors. The toll-free telephone number, the website, the sales literature, the advertising, and many other marketing programs are all part of the marketing mix.

5.0 Financials
This chapter contains your expense budgets, sales forecasts, and breakdowns by category. Normally it is mainly tables and charts, with texts to explain the numbers in them.

6.0 Controls
As your strategy is implemented, you will want to track your results and monitor new development in the internal and external environments. Is your plan on track with your revenue generation objectives? Are the programs accomplishing your goals? Programs that are not working need to be changed. Programs that meet or exceed expectations should be replicated. This is where the value of a dynamic marketing plan benefits you most.

There are also Market Planning products out there that can help you to create and maintain a marketing plan document. Our software, Marketing Plan Pro ( http://paloalto.com/ps/mp/index.cfm ) includes a wizard driven interface that will guide you through the entire process on a step by step basis.

Admin

Aaron 22.11.2011. 18:41

HELP with interests and hobbies on a cv? I have no interests or hobbies and i am going for a job in accounting, what should i put on my cv?

Aaron

Admin 22.11.2011. 18:41

I provided below, based upon the limited information you shared, some of the highlights of a inexperienced and experienced job skills, professional profile etc. which are included on a resume for an accountant. I recommend that you exclude interest and hobbies and include any volunteer work or personal achievements, if any. Check out website: bestsampleresume.com and put in accounting it will give you at least 25 examples.

There are places to assist you with resume writing i.e. local library has a resume course and Workforce Development thru your unemployment office offers courses i.e. resume writing, interviewing and job search.

Accounting:

The design of your accounting resume must highlight the most important information about your accounting experience, skills and education. At a first glance, this information creates a primary image of your accounting skills and abilities among the employers.

-Overall grade point average and GPA in major when 3.0 or above.
-List of specific accounting courses completed with the grades earned plus courses in progress.
-Professional development should always include CPA review course, plans to take the examination and any other special training in accounting and/or computers.

KEY SKILLS:

-Strong Mathematical and statistical knowledge to ensure error-free calculations
-Excellent presentation skills that helps to present the financial data of the organization in an systematic order
-Brilliant time management and organizational skills that helps to complete the given tasks promptly and correctly
-Detailed knowledge about accounting principles, accounting standards, book keeping procedures and office practices
-Ability lead a team and train them on bookkeeping procedures and accounting techniques

Work Experience
2008 - 2 months summer job - ABC Chartered Accountants
Accounting Clerk

?Help prepare accounts for small business owners
?Accompanied seniors on company audits
?Prepared accounts on SAGE software accounting system
?Typed letters in Microsoft Word to customers
?Handled incoming calls into the office from clients
?Produced bank reconciliations in Microsoft Excel
?Produced audit reports for small business owners
?Handled incoming calls into the office from clients

Computer Experience
Able to use all main Microsoft Products including Microsoft Word and Excel
Literate user on the internet and can use HTML to make web pages
Basic knowledge of SAGE accounting systems and Microsoft Money.

Career Profile:
A highly skilled, qualified and accomplished candidate with extensive knowledge of financial accounting and auditing. Seeking an entry position as Accountant to upgrade my skills and knowledge in the finical sector.

Professional strengths:

Possess effective communication skills
In-depth knowledge of managerial accounting and cost accounting
Ability to write effective financial business reports
Familiar with federal taxation and corporate finance
Good team player and ability to handle multiple tasks
Goal oriented and ready to take initiatives
Ability to work in a target based environment
Knowledge of basic operating systems like Microsoft Word, Excel, Access, PowerPoint and Internet Explorer
Possess in-depth knowledge of accounts payable and receivable, budgets, forecasting and payroll
Skilled in maintaining and developing professional relationships with clients

Educational Summary:

AAS in Accounting, Georgina University, Department of Commerce Georgina 19XX
Bachelor's degree in Accounting, College of Commerce, Georgina 19XX

Personal Achievements:

Gave a presentation on "Accounting strategies" in a seminar conducted by University of Georgina
Won the title " Best student of the Year" for the year 19XX
Participated and won the first prize in an open swimming competition

Admin

Typhani 16.07.2013. 16:03

What are the main things to be assure of before you get married and have kids? I have had setbacks and made mistakes keeping me from goals that i feel i should have accomplished by now. Such as husband, kids, career, vacations. I find that as my b-day approaches, my late 20s, it's not material things i want. I find myself tearing over my husband, kids, house, etc and being in envy of others that have what i want. The things i really desire have nothing to do with books, ipad this or computer that or clothes, it hurts. I started thinking about my b-day one day and i randomly started praying for what i want & tearing. It's still discouraging sometime because i know i'm getting older. 27 yr, then 28, then 29 & 30 and haven't fullfilled the ultimate goals i wanted to in my 20s, along with having to stay with mom and her new husband or whatever. Do i want to be with this person, do i want kids with this person , financial stability, are some things i know . I'm living with my mom as of now and her new guy is a bit controlling I don't want to have to deal with living for others and taking care of their house, when my heart is longing over things i want of my own .I gotta move out of here. It's really stressful. I need to know what to do or i need help rather making a plan that will make my future get moving a lil faster idk. any advice. This is what i really want. all answers appreciated..thx.
Ok, This was a good answer Grace. Straight to the point. Idk if my description matches the question. Maybe kind of a vent. I guess i felt like i blew it many times and now want to get it right. Like, there is having this stuff husband, kids, beautiful life and then keeping it. But what are steps or lists of absolute have Tos before you go into marriage? emotional, mental, financial, goals, moral/values?

Typhani

Admin 16.07.2013. 16:03

the number one thing that trumps everything else.. is that other person must love YOU. This can be difficult to accern what your partner loves. Do they love your stuff.. do they love the perks of a relationship? do they love everything about sharing life with you.. except for you?.. or do they love you regardless if your penniless broke and sick? .. basically do they love you.. or the relationship. You MUST determine how they feel.. and be certain if they are there for you or the perks. Once you are certain this other person loves you.. your pretty safe from a quick divorce or much unhappiness in your near future. Next thing you need to worry about is YOU.. do you love this guy.. cus your heart races.. cus colors seem more vivid.. cus you feel soooooo alive when your with him? .. or do you see him as the best alternative at the time.. or a comfortable life.. or any other reason than you dont want to live wihtout him cus he's the center of your world. cus if you settle for the best model you could find at the time while ur shopping around.. you might find to your horror at some point in the future after ur married with kids.. you DO find someone who sets your world spinning.. then u may have regrets. Yesss a bill gates might seem like a nice catch for a lot of reasons.. buttttt... Something else i tihnk you should be wary of is i dont think u can find love if your looking for it.. it just happens someday when your with someone you have likely spent time with sharing activities you both enjoy. One day you realize this great friend you have is something more and hopefully your both on the same page. Entering a relationship to escape something.. or to fill needs seems to be pretty shakey ground for a relationship. IMHO the best reason to enter a relationship is cus your happy and you happen on someone who becomes the center of your world for no other reason than they are who they are.. and they make you feel wonderful about yourself.. your world and them.

Admin

Mike G 18.06.2008. 07:44

name and describe the 16 components of a strategic marketing plan? Array

Mike G

Admin 18.06.2008. 07:44

The content of the marketing plan can change depending upon the business, the author, and the intended target audience. There are lots of great resources, books, and informational sites available to help you with what should be contained in a Marketing Plan.

Mplans.com ( http://www.Mplans.com ) is an informational website maintained by Palo Alto Software that includes market planning advice, tips, as well as free sample plans.

We have many articles on what should be contained in a marketing plan at:
http://www.mplans.com/dpm/allarticles.cf...

Here's a basic outline of the main points in a typical marketing plan:

1.0 Executive Summary
This is a summary of the main highlights of your plan. The contents of the summary should address target markets, market needs, sales prospects, expenses, and strategy.

2.0 Situation Analysis
The Situation Analysis sets the scene as you develop your marketing plan. This is where you look at your company's situation and its market. Consider what your company offers and why, what you do well, and why, and introduce your marketing situation and the main components of the marketing plan.

3.0 Marketing Strategy
The strategy chapter normally includes objectives, target market strategies, value propositions, and strategy pyramids.

4.0 Marketing Mix
Marketing mix combines your marketing programs. It includes positioning, pricing, distribution channels, advertising and promotion, service, delivery, and other factors. The toll-free telephone number, the website, the sales literature, the advertising, and many other marketing programs are all part of the marketing mix.

5.0 Financials
This chapter contains your expense budgets, sales forecasts, and breakdowns by category. Normally it is mainly tables and charts, with texts to explain the numbers in them.

6.0 Controls
As your strategy is implemented, you will want to track your results and monitor new development in the internal and external environments. Is your plan on track with your revenue generation objectives? Are the programs accomplishing your goals? Programs that are not working need to be changed. Programs that meet or exceed expectations should be replicated. This is where the value of a dynamic marketing plan benefits you most.

There are also Market Planning products out there that can help you to create and maintain a marketing plan document. Our software, Marketing Plan Pro ( http://paloalto.com/ps/mp/index.cfm ) includes a wizard driven interface that will guide you through the entire process on a step by step basis.

Admin

JuneBug 25.06.2011. 20:15

How to get scholarships, etc? So, I just got this notification from FAFSA, letting me know that I just lost thousands of dollars from my financial aid. What I DO have left is just loans. Therefore, I'll be about $20,000 more in debt this year (I'm a college sophomore, if that helps).

How can I get more money?
Is there somewhere I can apply for scholarships, easily?

JuneBug

Admin 25.06.2011. 20:15

For general scholarship searches, try these:

http://www.fastweb.com

http://www.scholarships.com

Here are some scholarships that I have tried before (they're fun to try, even if you don't win):

http://www.scholargamers.com/invite/22063

http://www.scholarshippoints.com/10K/?sp=1710375

Here are some other scholarships that I found in a certain scholarships book I have:

$1,000 Gen and Kelly Tanabe Student
Scholarship
Gen and Kelly Tanabe Scholarship Program
3286 Oak Court
Belmont, CA 94002
Phone: 650-618-2221
Email: tanabe@gmail.com
Website: http://www.genkellyscholarship.com
Purpose: To assist high school, college and graduate school students
with educational expenses.
Eligibility: Applicants must be 9th-12th grade high school students,
college students or graduate school students who are legal U.S. residents.
Students may study any major and attend any college in the U.S.
Target applicant:
High school students
College students
Graduate school students
Adult students
Minimum GPA: None.
Amount: $1,000.
Deadline: July 31.
How to apply: Applications are available online.

All-Ink Scholarship
All-Ink.com
1460 N. Main Street
Suite 2
Spanish Fork, UT 84660
Phone: 888-567-6511
Fax: 801-794-0124
Email: csp@all-ink.com
Website: http://www.all-ink.com/scholarship.aspx
Purpose: To help students who want to pursue higher educational
goals.
Eligibility: Applicants must be U.S. citizens or legal residents who are
enrolled in or plan to attend an accredited college or university. Students
must be high school seniors, college students or graduate students. To
be considered, a student must have a 2.5 GPA or better, must complete
an online application and write a pair of 50 to 200 word essays about
what they hope to accomplish after they complete their college degree
and about who their greatest influence has been.
Target applicant:
High school students
College students
Graduate school students
Adult students
Minimum GPA: 2.5
Amount: $5000.
Number of awards: Varies.
Deadline: December 31.
How to apply: Applications are available online.

Americorps National Civilian Community Corps
AmeriCorps
1201 New York Avenue NW
Washington, DC 20525
Phone: 202-606-5000
Fax: 202-606-3472
Email: questions@americorps.org
Website: http://www.americorps.org
Purpose: To strengthen communities and develop leaders through
community service.
Eligibility: Applicants must be U.S. citizens who are at least 17 years
of age. They must relocate to one of four Americorps campuses and
commit to 10 months of service.
Target applicant:
High school students
College students
Graduate school students
Adult students
Minimum GPA: None.
Amount: $4,725.
Number of awards: Varies.
Deadline: Varies.
How to apply: Applications are available online.

Ayers/Gallatin Endowment
Epsilon Sigma Alpha Foundation
P.O. Box 270517
Fort Collins, CO 80527
Phone: 970-223-2824
Fax: 970-223-4456
Email: kloyd@knoxy.net
Website: http://www.esaintl.com/esaf
Purpose: To provide financial assistance to students.
Eligibility: Applicants may be from any state, attend any school and
pursue any major. Selection is based on character (10 percent), leadership
(20 percent), service (10 percent), financial need (30 percent) and
scholastic ability (30 percent).
Target applicant:
High school students
College students
Adult students
Minimum GPA: None.
Amount: $500.
Number of awards: 2.
Deadline: February 1.
How to apply: Applications are available online.

Letty Garofalo Scholarship
United Negro College Fund (UNCF)
8260 Willow Oaks Corporate Drive
P.O. Box 10444
Fairfax, VA 22031-8044
Phone: 800-331-2244
Website: http://www.uncf.org
Purpose: To support students in need of financial assistance.
Eligibility: Applicants must have a minimum 2.5 GPA, complete the
Free Application for Federal Student Aid (FAFSA) and have unmet
financial need that is verified by the college or university financial aid
office. UNCF students are encouraged to complete the UNCF General
Scholarship application to be matched with scholarships for which they
meet the criteria.
Target applicant:
High school students
College students
Adult students
Minimum GPA: 2.5
Amount: Varies.
Number of awards: Varies.
Deadline: Varies.
How to apply: Applications are available online.

Admin

Cmatts49 31.03.2013. 07:17

Successful future after highschool? I am currently a graduating senior. Through out my 4 years of highschool, I was not a good student at all. Every year I struggled to get good grades and never put in the necessary effort. I was lazy and lacked motivation. Right now I am graduating with a 2.1 cum GPA. I now realize that this was a big mistake, and I'm regretting it now watching my friends get into the colleges of their choice. I plan on going to community college for the next year for a fresh start. I'm interested in many things (music, fitness, health, psychology, philosophy etc.) but one of my main goals in life is to be quite wealthy and live a financially stable life to be able to support my future family as well as buy things that I have always wanted. I know money isn't everything but I've never been wealthy to begin with and moving up the social ladder would deff make my parents proud :). Anyways, with the economy and job markets not doing so well, finding a good paying job is going to be hard, and let alone the fact that I'm not starting my college career in a good school, I feel that I have a very small chance of accomplishing my goals. I still don't know what path to follow in college, but I've heard the very high paying jobs are mostly in finance, doctors, lawyers etc, areas of that sort, and those jobs are very hard to obtain depedning on the quality of education that you recieve (Harvard over community college for example) and most who are successful nowadays, tend to go to really good schools. My question is, do I still have a good chance of being successful even if I dont go to a good college or university? and would I be able to transfer to an ivy league from community college? I just turned 18, what advice would you guys give me as I continue into college?

Thanks so much!! Your help is greatly appreciated!!

Cmatts49

Admin 31.03.2013. 07:17

Yes, an intelligent student who does not perform to his capacity in high school but has developed skills in reading, and writing as exhibited in the question, can be successful though starting at a community college, and can transfer to a prestigious university. Most of what is stated in the question is true but it is not quite so back and white. For instance, Ivy League universities are weak in Engineering and so their graduates don't have as much influence in the world of technology. There are also numerous fine universities outside of the ivy league.
http://www.timeshighereducation.co.uk/world-university-rankings/2013/reputation-ranking
http://www.shanghairanking.com/ARWU2012.html
In terms of transferring from a community college to an ivy league that is most possible at Cornell and least at Harvard and Yale, well actually least at Princeton which accepts no transfer students. For specific advice, it would help to know the state you are a resident, the state the community college is located, Sat or Act scores, the courses completed in high school-Math, English, Science, Foreign Language, History- the grades received in Math courses, Chemistry and Physics and any athletic or non athletic extracurricular activities pursued in high school. The ability to pay for an education would also be helpful. In general, federal grant type aid is not available to students whose parents make over around 75k per year. State based grant type aid is also usually limited to the same or somewhat higher limits. Private universities don't use Fafsa guidelines for private aid but instead use the CSS Profile and therefore can be significantly less costly than a public university for students from families making between 74 k and around 200k, the limit many private universities use for private aid.
http://student.collegeboard.org/css-financial-aid-profile
The parent's contribution is the actual cost of the education not the advertised sticker price, scroll down...
http://news.yale.edu/2008/01/14/yale-cuts-costs-families-and-students
Note: most private universities are not as generous with private financial aid as Yale.
It is nearly impossible for a single undergraduate student under 24 years old to be considered independent under Fafsa guidelines even if his parents have not supported him at all since he turned 18, in which case his parents income and assets are considered when making financial awards of federal and state based aid.
http://www.fafsaonline.com/fafsa-form/dependent-status-for-fafsa-5.php
For specific, add details or e mail.
In California, community college students can guarantee transfers to most state universities:
http://admissions.sa.ucsb.edu/prospective/tagletter.asp
UCLA does not offer a TAG but has the Transfer Alliance:
http://www.admissions.ucla.edu/prospect/adm_tr/adm_cco/tap.htm
Berkeley:
http://students.berkeley.edu/files/admissions/12626_5.info_transadm.pdf
Good Luck!

Admin

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