Archive for the ‘business planning’ Category

Brazil’s Mantega Rejects Petrobras Business Plan, Globo Says

Brazilian Finance Minister Guido Mantega today rejected Petroleo Brasileiro SA (PETR4)’s plan to invest
more than $224 billion from 2011 to 2015, O Globo reported,
citing people close to the discussions who weren’t identified.

Mantega, during the state-controlled oil company board
meeting, asked Petrobras to trim its investment plan, the Rio de
Janeiro-based newspaper said, without detailing how it obtained
the information.

The Finance Ministry declined comment, according to an e-
mailed statement from its press office. An official at
Petrobras’ press department, who declined to be named due to
company policy, declined to comment on the status of the
business plan.

To contact the reporters on this story:
Andre Soliani in Brasilia at
asoliani@bloomberg.net

To contact the editor responsible for this story:
Joshua Goodman at
jgoodman19@bloomberg.net

Pace Global Announces New Director of Strategic Planning

/PRNewswire/ — Pace Global Energy Services has named Paul Moran as director of strategic planning for its consulting practice. In this capacity, Mr. Moran will provide expertise in corporate strategic and business plans, business process improvement, organizational design, change management and performance monitoring. Mr. Moran will be based in the Houston, TX office.

Gary Vicinus, Executive Vice President in Pace Global’s Consulting Practice, states: “We are delighted to add Paul to our management consulting practice. Paul brings both a wealth of hands-on experience and perspective from his years at CenterPoint Energy that fits extremely well with our goal of providing outstanding service to utility clients in the areas of strategic and corporate planning, MA activity, performance management and business process design. He will work closely with our financial, resource and environmental planners, our technical experts, risk managers and our power fuel market teams to address the challenges our customers are facing today and in the future.”

Mr. Moran has more than ten years of experience in strategic planning. Prior to joining Pace Global, Mr. Moran was the director of corporate strategic planning at CenterPoint Energy, where he lead new business development efforts, evaluations of potential mergers and acquisitions, market assessments, financial forecasting, economic analysis and business process improvements. During his tenure, he led a process that identified $40 million in operational savings.

Contact Information:Paul Moran, DirectorStrategic Planning1415 Louisiana St. Suite 3550Houston, TX 77002 USAPhone: 713.315.5668E-mail: Paul.Moran@paceglobal.com

About Pace Global Energy Services

Pace Global is a leading Energy Consulting and Management Company. We combine deep industry knowledge with commercial, technical, financial, and regulatory expertise to help organizations maximize value and manage risk in today’s complex energy and environmental markets. For more than 30 years and in over 60 countries, we have worked closely with our clients to define strategies and implement solutions. We offer a unique, integrated perspective our clients have come to trust, which we call the Power of Integration. For more information, please visit our website, http://www.paceglobal.com.

CONTACT INFORMATION:

Pace Global4401 Fair Lakes CourtFairfax, VA 22033Contact: Michelle CashPhone: 703.227.8775

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Pace Global

Kauffman Labs Entrepreneur Wins Milken PennGSE Education Business Plan Competition

PHILADELPHIA, PA–(Marketwire – Jun 10, 2011) – Alexandre Scialom, one of 23 entrepreneurs in the Kauffman Labs Education Ventures Program, has been named both the first prize winner in the 2011 Milken PennGSE Education Business Plan Competition, as well as the winner of the Hewlett Foundation’s Startl Prize for Open Educational Resources. The two awards include a total cash prize of $50,000 in funding to support Scialom’s new company, The Coursebook.

Conducted by the Milken Family Foundation and Penn Graduate School of Education, the Milken PennGSE competition is the only education-focused business plan competition in the nation. Scialom’s project was selected from a pool of nearly 200 applicants and was reviewed by 60 independent judges before being selected as a finalist. Scialom beat out eight other finalists — including two other Kauffman Education Ventures participants — for the top spot at a final pitch competition yesterday afternoon at the University of Pennsylvania.

Scialom also took the top honors in the Startl Prize for Open Educational Resources, a competition announced in November 2010 in partnership with the William and Flora Hewlett Foundation that sought to award the best business plan supporting openly licensed content. Startl is a new social enterprise dedicated to supporting the innovation of effective, affordable and accessible learning products.

The award-winning enterprise, The Coursebook, aims to connect lifelong learners with online and offline educational opportunities. As the ‘Yelp of education,’ the service makes it easy to discover college courses and other learning resources based on interests, peers and location.

According to Scialom, the Kauffman Labs Education Ventures Program — an intensive, four-month program that offers participants individualized training and entrepreneurship education, coaching on a variety of business and marketing skills, guidance in connecting with financiers, and a prorated annual salary of $70,000 that enabled them to pursue their projects full-time — was instrumental in helping him focus his business idea and enable it to grow.

“I came to Kauffman Labs with an idea, and the program gave me the support and resources I needed to refine and articulate it so I could get people to buy in to my vision,” said Alexandre Scialom, a French native who came to the United States to pursue entrepreneurship. “Getting this kind of recognition is amazing.”

About Kauffman Labs for Enterprise Creation
Part school and part business accelerator, Kauffman Labs for Enterprise Creation is a new approach to developing the next generation of high-growth firms. Tapping the Ewing Marion Kauffman Foundation’s vast entrepreneurship knowledge and networks, the program seeks to accelerate the number and success of new firms by offering a new method for teaching and training entrepreneurs of dynamic, fast-growth, scalable businesses in a lab setting, while studying the “science of startups” in the process. For more information, visit www.kauffmanlabs.org.

Turning love of food into career takes patience, flexibility, good business plan

WEST CHESTER, Ohio — So you love to cook, and people say you’re pretty good at it. But can you make a living from culinary passion?

Jennifer Vogel believed she could. As she and Doreen Grontkowski became friendly at a Mom’s Club in suburban Cincinnati, they both realized they were ready for something new after several mainly stay-at-home years. Both were in their early 30s, and both had marketing experience.

“And we both had the same love for food,” said Vogel, who had become an avid Food Network viewer and received chef’s training at the Midwest Culinary Institute in Cincinnati.

After a year of planning, they opened The Learning Kitchen. Vogel spent the first day demonstrating how to make risotto and handing out free samples, while Grontkowski showed off top-line cookware in their retail boutique. Cooking-class bookings piled up.

Nearly three years later, they plan to expand their thriving business, which quickly sells out classes such as couple’s “date-night” cooking for $150 to $160 a session.

Even in a sour economy, some people have been able to turn the joy of cooking into a sweet career, whether it’s a successful small business or running a restaurant kitchen. It’s a sizzling field; witness the ever-expanding lineup of cooking and reality TV shows such as “Rachael Ray” and “Top Chef,” and the increased interest in serving fresh food at home.

While many people enjoy the creativity and satisfaction of cooking, “the industry is truly a bastion of entrepreneurship,” said Hudson Riehle, senior vice-president of research for the National Restaurant Association. He said the number of people attending culinary schools and seeking food careers is growing.

Surveys show that nearly half of restaurant employees aspire to run their own restaurant and, as employment and sales strengthen again in an improving economy, the association projects double-digit percentage growth for chefs’ and head cooks’ jobs over the next decade.

Still, small-business failure rates can be daunting, with fewer than half of new businesses expected to survive five years. Restaurants and cooking businesses often face even longer odds. And the recession has meant tightened credit and more-frugal consumers.

New businesses can benefit from relatively low-cost marketing online and digitally. The Learning Kitchen got a jump-start from online bookings, and has expanded to include a Facebook site, and use of Groupon and Foursquare for mobile marketing.

Another successful, locally based cooking business, launched about four years ago, has been heavily dependent on its online presence. Cooking With Caitlin began in Cincinnati with a catering business and a website with recipes. It now includes online cooking classes, a two-hour “Foodies Night In” with interactive cooking information via Twitter, a Facebook page, a radio show and live demonstrations.

Chef Caitlin Steininger received classic Le Cordon Bleu training at the Cooking and Hospitality Institute of Chicago; when she returned home to Cincinnati, she formed the business with her sister Kelly Trush and a friend, Molly Sandquist. They started with catering, but found that working so many nights and weekends was tough on their families. So they focused more on marketing partnerships, such as becoming part of Cincinnati.com‘s blogger network and drawing people to their site with more tips, interactivity and videos, and with public demonstrations and appearances.

Now they’re working on a cooking show for local cable TV. Trush said they were able to start the business with little debt, using catering revenue to build it, and got into the black in about two years.

“You have to be patient,” she said. “You have to be flexible.”

“If you’re interested in starting your own business,” added Sandquist, “make sure you love, love, love it!”

Vogel and Grontkowsi said they started making money before the end of their first year. They credit teamwork and a sound business plan developed with the help of Score, a non-profit organization that offers free counselling for entrepreneurs.

“People asked, ‘Aren’t you scared, how do you sleep at night?’” recalled Grontkowski. “But we did our research to a T, we made no assumptions and we had an evolving business plan.”

“The only moment of doubt I had was just before we unlocked the door that first day,” Vogel said. “I thought to myself, ‘What if nobody shows up?’”

Instead, they were packed from start to close.

“Far better than we expected,” Vogel said. “At the end of the day, we met back here at this table and just exhaled: ‘Wow!’ “

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Online:

www.thelearningkitchen.com

www.cookingwithcaitlin.com

www.restaurant.org

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Follow this writer at http://twitter.com/dansewell

Copyright © 2011 The Canadian Press. All rights reserved.

Handing Down the Business – A Legacy Plan

f12db HandingDownBusiness 300x199 Handing Down the Business – A Legacy PlanIt makes sense that for many years the most important things to you were your kids and your business. So, it stands to reason that you’d want one to have the other down the road. Herein lies the age-old tradition of family succession plans when it comes to business.

Offering the Keys to Success

Many entrepreneurs start businesses to provide for their families in the present and the future. What better way to help your child succeed in life than to hand him the keys to an already-established business. However, family succession plans may not always be the wisest choice. According to the Family Firm Institute trade group, only about 12% of family businesses make it to the third generation with only 3% making it to the fourth generation. In fact, the United States has one of the lowest rates of family business succession in the world.

If you’re contemplating sharing your business legacy with your offspring there are several things that you should first take into consideration. So many concerns and questions arise that it’s best to have answers and a plan ahead of time. For example:

  • Which child will take over? Will they all have some stake in the company?
  • What if no one is interested in continuing your legacy?
  • Can you separate emotional ties when a child is your employee or even when they become the boss?
  • Will you always be looking over their shoulder when they take over – unless of course you’re making them wait around until you’re no longer around.

It’s better for your relationship and the business in general if you know that the child has agreed to take over the reins for the right reasons. Is he doing it just to make you happy? Have you provided her with the proper knowledge and skills to run it successfully? Is his vision for the company along the same lines as what you saw for the business’s future? When choosing a successor, it is important to remember that just because they’re your children doesn’t make it a foregone conclusion that they will be able to run a company.

Prepare Your Children for the Responsibility

Warren Buffet was quoted as saying, “The odds of having a son or daughter that are as passionate and excited and driven as a founder of a business was, or even the person that took it over, I think are incredibly small.” Perhaps your children may not be interested in taking over the reins of the family business. If you feel, however, that there may be a chance it is best to start preparing them early on for what could be their future responsibilities.

One of the best things for kids to do is to get work experience elsewhere. Get a taste for what life is like in the working world – what a real interview, review and workload is like outside of the family business. With some additional experience and skills, kids will be better prepared to hand the company you’ve grown.

Have an open and honest conversation with them about what it is like to run the business and what challenges they may face if they take over for you. Discuss what direction you see the business going in the future. What are your long-term goals and how long to you plan to run the business. This information could not only help your children decide whether or not they have an interest in the business but understand just how important it is to you.

Tips for Handing Down the Business

FOX Business lists six tips for handing down a family business to keep the legal, financial and emotional issues down to a minimum.

1.       Decide whether or not to pass down the business in the first place. This decision should be based on the ability of the child, not simply on whether or not you’d like the business to stay in the family.

2.       Ensure the business plan in updated or intact. This would help to divvy up responsibilities and keep the business organized while you are preparing to leave.

3.       Ensure proper account transitions. They recommend that account transitions should take place during a period of at least three to six months so that the clients are comfortable and see the continuity.

4.       Ask honestly: What will the business look like without the current owner? Just because they are your kids does not mean that they see the future of the business the same as you do. In fact, their goals could be totally different. Be sure to have a discussion about each of your goals for the company to prevent disagreements in the future.

5.       Consult with the experts. As with any major financial decision, you should always consult with a financial advisor and attorney before finalizing anything.

6.       Don’t be afraid to let the children take the reins. Give your child the space they need to take a shot at running the business without you looking over their shoulder.

Understand that your children may not be interested in taking over the business reins. But if not your kids, who else do you trust to run the business that you created? Be certain to have succession plans in place in case something would happen where you wouldn’t be able to run the business – it is essential to the future success of the company that you’ve worked so hard to create.