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"Business Guide" by Dramatizedxx
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=================== Business
Guide
===================
By: Dramatizedxx
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Introduction:
Welcome to the world of Business in Vindex Nation. This book will explain, in great depth, how to start and manage your own business. It will include tips, tricks, helpful commands, and more to help you get your company to the top!
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Part I: Starting A Business
===================The first thing in creating a successfull business is coming up with a unique idea and name for your company.
Coming up with an idea:
Consider what you feel would attract customers, as well as
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something you would enjoy running. Below are a list of fields your business could follow.
-Food
-Clothing
-Weapons
-Books
-Housing
-Medicine
-Money
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Think about the idea long enough so you get an idea of what, specifically, you would be doing. Remember to come up with a unique idea, in order to attract more customers and to lower competition.
Have your idea? Onwards to naming your business!
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Naming your business:
Names are VERY important! If your business is named, say, "MyBusiness", customers won't know what your business focuses on, and they will be much less likely to buy, even if "MyBusiness" has an extremely unique business idea.
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So, how to select a name?
First, it should reflect what your business does. For example, if you own a steakhouse, UltimateSteakhouse might be a sufficient name for your business. If you want to stress an important factor in your business, make sure to
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incorporate that into the name, too. For example, if you stress your clothing to be custom made, your name might be CustomClothes. Spend some time thinking about your name, as you wont be able to change it once youve started your business.
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Selecting a type of business:
There are four business types, proprietorship, partnership, llc, and corporation. On the next page, I will list the cost, max employees, pros, and cons of each business type
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Proprietorship:
Cost to start: $1,000
Maximum employees: 1
Pros:
-cheap to start
-good for business that doesn't need employees
Cons:
-Not a good choice for businesses that need lots of employees
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Partnership:
Cost to start: $5,000
Maximum employees: 3
Pros:
-good for medium sized businesses
Cons:
-not suitable for large businesses
-Requires an investment for the average citizen
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llc
Cost to start: $15,000
Maximum employees: 10
Pros:
-good for a medium-large business
-sufficient amount of employees
Cons:
-requires a lot of money to start
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Corporation
Cost to start: $30,000
Maximum employees: unlimited
Pros:
-is capable of supporting a very large business
-lots of employee slots
Cons:
-really expensive
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Once you have your business idea, business name, and business type in mind, follow this command to officially start your business:
/business create [type] [name]
End of part I
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Part II: Getting space
===================
A crucial part of owning a business is having a property to conduct everyday operations on, whether that be a store to sell products, offices, factories, etc. The next page will give you ideas for properties
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-CollinTower: 30k per floor
-WTC: 50k per floor
-CollinCenter: 10k-200k per space
-homes4sale: 10k per room
-wyndhamresort: 15k per room
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-Mall: 15k-30k per permanent space, 2k-5k per rented space
Rent=10 day ownership
Note: You MAY NOT use houses as a business space
Note Two: A lot of these spaces will be resaled to you for higher prices
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Getting an area for your business can be tough. Your paycheck, while higher than most, will help, but will not pay for a space all by itself. I'd recommend to ask for donations in global chat.
End of Part II
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Part III: Making a budget plan
===================
A budget is a type of plan concerning how you will spend money you acquire on the business.
This section will show you how to set one up according to your business
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First, consider your business. Are you selling a product or a service?
Product: an item such as coal, wood, armor, etc.
Service: selling work such as interior design work, event planning, etc.
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BUDGET PLAN TIPS FOR PRODUCTS:
Consider how much it costs you to make each product. If you are selling armor, for example, how much does each iron bar cost x how many iron bars do you need to craft [armor piece]. Then, add to that cost to ensure you
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make a profit. The easiest way to sell products is through ChestShops. Here is the sign setup.
[line one] your IGN
[line two] amount of product
[line three] B[price]
[line four] item ID
Then load the chest up with your product!
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BUDGET PLAN TIPS FOR SERVICES:
If your service includes materials, add up the cost of them needed when you get a job, then add a markup on to ensure you make profit. Make sure you cover every aspect of your service, so you make a lot of money
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Part IV: Hiring employees
===================
Let's face it: you can't manage an entire company by yourself. Let's hire some people to split the workforce evenly
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Popular Positions for businesses:
CEO
This is you! As the owner and founder of the business, you also take on the role of CEO. You are the big boss, you control everything in the business
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President
This position oversees day to day operations in the company, from hiring employees to working on production lines. This is an extremely important position
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CFO
The CFO (Chief Financial Officer) controls how much money is spent and what it is spent on. The CFO works closely with the President and CEO
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Chairman of the Board
If you choose to hire a board of advisors, the chairman will be the head of them, and will be in charge of making huge descisions for the company. The CEO may double as the Chairman.
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Board of Advisors
The Board of Advisors are a team that are in charge of coming to censensus on company issues. Make sure the people you choose for this position can work well with people and speak/write effectively
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Of course, your company will need more spaces, depending on what kind of company you run, such as "Decoration Manager" for an event planning service, or "Factory Worker" for an appliance company.
Have all your employees now?
End of Part IV
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Part V: Advertising
You won't sell anything if no one knows about your products. So, how do you get your business out there? The easiest way to do that is advertising.
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Advertising Techniques:
a. Write a book explaining your product and how to contact the people who sell the product. Then, make lots of copies of it by putting the signed book in a crafting table with a book and quill. Then throw your ads at
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random people.
b. Lots of people will sell part of their property to put signs up advertising your business
c. Put signs up on your own property advertising your business
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d. Have social promotions. e.g. saying "big sale at Marks Diamonds! One diamond for 100 dollars!"
e. Advertise in global
f. Ask random people (directly) if they'd be interested in your product
End of Part V
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Part VI: Keeping your business running
===================Starting it may be easy, but managing it is harder. You must make sure you're making profit! If you're not, there is no point in having a space (that you may be renting) and spending money on
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resources! So, you must make sure you're keeping a steady balance between advertising, selling, revising budget plans, and looking over sales.
See you in /business top!
~Dramatizedxx