Designing a practical and realistic financial plan

Designing a practical and realistic financial plan

Designing a practical and realistic financial plan is a significant step in launching a new business. (Scarborough & Cornwall, 2015). A well-formulated and designed financial plan helps the management in realizing short term and long-term goals. It offers a strategic approach to accomplishing each of the objectives. This paper focuses on analyzing the financial plan of “Fresh Drinks Company.”

The following is a simple projected income statement for “Fresh Drinks Company” for a period running for two years:

The simple projection of a balance sheet for “Fresh Drinks Company” is as follows:

An Outline for Hiring and Retaining Employees

Three core values shall guide fresh Drinks Company hiring and retaining policy. They shall define the approach to effective hiring and retaining of the employee. Before any employee is hired, he/she must exhibit and embrace the values set by the company. These core values are; compliance. Consistency and objectivity. There has been slow but steady growth and expansion within the manufacturing industries. (Hall, 2020.) This was indicated by recent studies in the state of California. We project that these effects shall have an impact on our company. Therefore, we set to base our hiring and retaining policies on the set values. Any employee, who dies mot exhibit the three values, shall not be hired. While retaining, an employee should exhibit consistency in their field of operation. They need to remain focused on the objectivities of the company.

Most importantly, each employee has to comply with the values, principles, and ethics of the company. When hiring, we shall be more interested in inexperienced workers. However, still, we shall be open to everyone, who will exhibit and be ready to conform to our values.

Having a productive and loyal employee base for an organization is capable when proven hiring and retaining methods ae implemented. One of the steps to ensure the implementation of these steps is by developing a checklist, which outlines each position. Every function, duty, and knowledge required shall be outlined, as well as the organization’s expectations from the person holding that position. Secondly, our company shall have a planned recruitment strategy. This shall involve the creation of a budget, which shall offer guidance through finding the right individuals for the job.

Moreover, our company shall get involved in a rigorous advertisement for the positions. Advertisements attract people from different places who have varying skills. Different aspects of the advertisement will be welcomed. They range from employee referrals, websites, and paper ads, as well as the incorporation of flyers. After the advertisements, creating an evaluation form will follow next. An employee evaluation form shall set forward the expected objectivities of each candidate. This means that the hiring process shall be similar for all the candidates. The distinguishing factor shall be the skills and credentials of the candidate. Several aspects shall be included in the evaluation form. These include technical; expertise, professional appearances, and decorum’s as well as written and communication skills. Following the above steps, successful hiring shall be conducted. However, still, on-site interviews will be very significant. The shortlisted candidates shall be interviewed on a set date, and their results communicated to them early enough. Overly, our company is looking for employees who will show consistency and compliance with our values and principles. They should be committed to the objectives of the company and exhibit high levels of competencies and consistency.

The Outline Pitch

Following the recent speculations on chemicals used the production of soft drinks and their implications on an individual’s health, imagine what would happen if all these complications are solved by a specific drink that has nutritional values to human health. Our company is dedicated to creating a product that does not pose health risks to individuals by ensuring natural production and storage. The products shall not put our company at receiving edge of laws and regulations since we will be ethical in our productions and storage.  Our company shall create a product that shall offer our customers with nutritional values from the natural blend of fruits. More so, our products shall be free from chemicals, and this does not pose health risks as other products in the beverage industry, which uses chemicals in production and storage. Our company is set to face stiff competition in the beverage industry. Our main competitors are Coca-Cola and Pepsi corporations. However, the two companies have been on the receiving edge of people’s wrath after it emerged that their products had chemicals. These speculations have shifted the demand for their products. Doing business with our company is the wisest thing to do at the moment, considering the demand shift and changes the preferences of the customers who used to enjoy Coca-Cola and Pepsi products. Our company will cut through the competition by offering an alternative source of refreshment, one without health risk, and that gives our company a competitive advantage in the market. As such, it is evident that the return on investments from our company shall be rewarded widely. Therefore, Fresh Drinks Company is the ultimate best partner to invest with, which offers a hefty return on your investments.

Reference

Hall, A., 2020. The 7 C’s: How To Find And Hire Great Employees. [online] Forbes. Available at: <https://www.forbes.com/sites/alanhall/2012/06/19/the-7-cs-how-to-find-and-hire-great-employees/> [Accessed 15 March 2020].

Scarborough, N. M., & Cornwall, J. R. (2015). Entrepreneurship and Effective Small Business Management, Eleventh Global Edition.