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The Purpose of A Business - Alan s Blog, Purpose of doing business plan

Purpose of doing business plan

A business that operates under any name other than its owner's personal name, or the name that was filed with the state, is legally required to file a DBA "doing business as" statement. The DBA statement may also be referred to as a " fictitious business name ," " trade name " or " assumed name ." In the case of corporations or LLCs, the statement can be used to inform the public of the previous legal company name that existed. With sole proprietorships or partnerships, a DBA statement informs the public of the owner's personal name or the name under which they are conducting business.

The distinction between a registered legal name and a "fictitious" business name or trade name is important, as businesses with the latter give no obvious indication of the true identity of the entity that is legally responsible for their operation. Fictitious business names do not create legal entities in and of themselves; they are merely names assumed by existing persons or entities. [1] Legal agreements such as contracts are normally made under the registered legal name of the business or owner, and the legal name must be used whenever a business sues or is being sued.

Because companies are legal persons, they also may associate and register themselves as companies – often known as a corporate group . When the company closes it may need a "death certificate" to avoid further legal obligations.

The concept of "doing business" is not the same as a  fictitious name ("doing business as") registration with your county.

Starting your own business can seem like a daunting task if you have never done it before. When you break down your business into a business plan, it can motivate you because it presents the business in an organized fashion, according to the University of Colorado. When you spend the time to outline your business in detail, you begin to understand what it will take to get your dream off the ground. Following a business plan can help you to map out the growth of your company and give you confidence when you need it.

<DIV><DIV><DIV> If we had a lot more businessmen like Ray Anderson, the planet would be neither bankrupt or overheated. He is a hero, and this book makes clear why! --Bill McKibben, author of Deep Economy

Economies are ranked on their ease of doing business, from 1–190. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2017. Read the methodology, explaining how the ease of doing business rankings and the distance to frontier measure are calculated (PDF).

Your employees, or your coworkers, are no different than you. They also want to feel that they are contributing to a greater good -- something more meaningful than satisfying job requirements and earning a paycheck. What’s different for them, though, is that unlike a business owner, they may not have an innate sense of what the business’s purpose is.

There’s also the mission , which describes what business the organization is in (and what it isn’t) both now and projecting into the future. Its aim is to provide focus for management and staff. A consulting firm might define its mission by the type of work it does, the clients it caters to, and the level of service it provides. For example: “We’re in the business of providing high-standard assistance on performance assessment to middle to senior managers in medium-to-large firms in the finance industry.”

Business exists to supply goods and services to customers, rather than to supply jobs to workers and managers, or even dividends to stockholders.

 · Peter Drucker famously wrote in The Practice of Management that the purpose of a business is to create and keep a customer. While …

There are direct actions required in this process: the acquisition, perpetuation, and expansion of customer business. These actions may also include R&D (creating new value); marketing (creating need); and finance (pursuing receivable to create better cash flow).

When someone files a DBA, it’s normally circulated in some kind of print newspaper (maybe you’ve noticed all those “fictitious business name” entries in the local classifieds). It lets the community know exactly what people are behind a business.

While purpose can be a loaded word for some, I think that in this day and age businesses that are built to do something that people can rally around, regardless of what the company actually makes and sells, are the ones that will naturally experience growth.

I make this point when I give leadership training, under the heading "setting direction" - the first of the eight tasks of leadership. The point: Predict which of these three companies will be most successful:


Purpose of doing business plan

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purpose of doing business plan
purpose of doing business plan

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