It goes without saying that you should never be tempted to use information that is proprietary to your previous employer. This information can be openly found with some basic LinkedIn research.
Are you a recruiter that is focussed on crunching numbers? Are you a recruiter who is focussed on cultivating long-term relationships? In this section, you can include a few quick bullet points to explain how you approach recruitment. This information gives your hiring manager an indication about whether you hold similar values and whether you have similar working styles.
This section is a new one in response to market conditions in 2023 but can demonstrate how you are prepared to deal with current and upcoming challenges.
You can use this section as the title and include bullet points to outline how you will adapt to these market conditions.
We release new articles, people moves and market intel for the recruitment industry on a monthly basis. To be the first to know when we publish something new, join the 1,000+ recruiters in our recruitment market intel list.
Enter your email below to receive the latest articles from Vocay. You can opt out at any time via the unsubscribe link in every email.
By subscribing, you agree to our Privacy Policy and Notification Settings .
Which recruiters and agencies offer the greatest competition? Demonstrating your knowledge in this area highlights that you are commercially aware outside of your core market.
Include about 5 different competitors who are directly competing in your patch. You can use the table below to display this information:
The company name | The name of the recruiter in your field | My comments |
Company name | Recruiter name | This recruiter has a well-established presence in this market, however they have less of a presence in UX/UI roles, which is a market I feel I can pick up |
In many business plans, financial projections are of utmost importance and can demonstrate your commercial acumen. If you’ve ever watched Dragon’s Den, you’ll know what happens when you don’t know your numbers!
Project your personal revenue for 4 quarters. You can start your calculations by predicting the average annual salary of a candidate in your patch. You can project your average percentage fee agreed with clients and from there you can calculate your average fee. Once you have this, you can predict the amount of placements you’ll be making per month.
Make sure your revenue projections are realistic and achievable. Avoid the temptation to predict vastly optimistic revenues, especially during a possible recession. You must allow time to ramp-up and there must be a logical relationship between your historical and predicted revenues.
The plan only includes project revenue. Your historical revenue should be on your CV.
Take the below as an example:
My predicted average percentage fee agreed with the client:, my predicted average fee:, my predicted average placements per month, my projected revenue over 12 months.
Year | 2023 | 2024 | ||
Quarter | Q2 | Q3 | Q4 | Q1 |
Personal revenue ($SGD) | $0 | 61,600 | 92,400 | 92,400 |
Number of placements | 0 | 2 | 3 | 3 |
Underneath, you can also include the KPIs you will set yourself to guide you in achieving these numbers. For example, you can set yourself a guideline for how many CVs you need to send, how many candidate meetings you need to arrange, how many client meetings you need to arrange and so on.
We’ve constructed a free template built around the components mentioned above, so you can create your own for when you reach out to hiring managers.
To download this template, please add your email below and you’ll be redirected to the template.
By downloading our busines plan, you agree to our Privacy Policy and Notification Settings .
This step-by-step guide should give your hiring manager a clear idea of your plan. If executed successfully, you’ve already demonstrated your commitment, knowledge and commercial acumen before even attending an interview.
The way you’ve structured your plan will give your hiring manager a very clear indication of your methodology and whether you’d fit their structure. Keep in mind that if your methodology is focused on high volume recruitment, it’s not going to work well with an executive recruitment agency.
As a next step, learn this plan inside and out. Be prepared to pitch your plan to your hiring manager and answer detailed questions surrounding each component.
Leave your interviewer with no room for concern and secure that role! Lastly, if you enjoyed the article, please consider subscribing or following us on LinkedIn to have new articles for recruiters like this delivered directly to your inbox.
As Founder of Charterhouse Partnership, I led the opening of 5 international offices, hiring & training hundreds of recruiters. Please subscribe to our weekly newsletter where I share my insights on the recruitment industry.
EA License 20S0396
UEN 202005417W
Copyright © 2024 Vocay. All Rights Reserved.
Don't miss the latest recruitment insights.
You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. |
Updated: May 8, 2024, 11:49am
1. freelance writer, 2. photographer, 3. personal trainer, 5. freelance graphic designer, 6. housekeeper, 7. bakery owner, when to register as a sole proprietorship, is a sole proprietorship right for you, frequently asked questions (faqs).
A sole proprietorship is a business entity where all liabilities and financial obligations pass to the single owner of the business. Those choosing a sole proprietorship are usually in low-liability career fields and seek the administrative ease and flexibility that comes with this type of entity. We’ve compiled a list of eight different types of businesses that make good sole proprietorship examples.
A freelance writer provides written content for clients, either for print or digital publication. They may write about a number of topics and in numerous forms, such as blogs, articles, white papers, scripts, ads, e-books, emails and more. A freelance writer is an independent contractor and works with their clients as an external team member on specific assignments.
What makes a freelance writing business a good fit for sole proprietorship is that it is a low-liability risk and is flexible. Many writers are part-time freelancers, so being sole proprietors of their own individual businesses makes sense.
Photographers typically work for themselves taking pictures at weddings, graduations, events or for other specific purposes such as senior photos or marketing materials. Some work at studios while many work on location for whatever event they are capturing. Many photographers are part-time. Most are solopreneurs, meaning they work on their business all by themselves.
A photographer likely has business expenses for their travel and equipment, which they can deduct for their business on their own tax return. A sole proprietorship often makes the most sense for a photography business in many cases because it is a low-risk business without a lot of liability. There is little benefit to most photographers, especially as they are starting out, to register another business entity type.
Personal trainers typically work out of their homes or in the homes of their clients. Gyms aren’t likely to accept the liability of letting you train people in their building unless you are an employee, so that their insurance will cover any mistakes.
The liability that a personal trainer has can likely be covered, for the most part, by liability insurance. There isn’t a lot of risk to accepting money to train people in a home or through online training unless they are injured. Until your business becomes quite lucrative, there are few benefits to registering anything but a sole proprietorship.
Plumbers who work for themselves and don’t hire employees are good candidates for a sole proprietorship. Their liability is typically limited and covered by insurance. It can be difficult to get your own individual plumbing business off the ground so saving any costs you can is important.
Once you start expanding your business or hiring employees, then it might make sense to register a limited liability company (LLC).
The field of graphic design is another area that works well as a sole proprietorship. A graphic designer takes on photo or image work from a number of different clients, billing each separately.
They usually work alone and can easily hire independent contractors if they need work done outside their expertise. There is no real liability to the work, making it another great career field for sole proprietorships.
Starting a business as a housekeeper means finding homes to clean and establishing a regular list of clients. This can be difficult to do on your own, but you also aren’t likely to need to pay for help right away.
The business is very easy to start and since you’re operating in the homes of clients, their home insurance will most likely cover any potential liability (though you should have your own insurance). Starting out as a sole proprietorship makes sense until you need to hire regular help to keep up with increased business.
A housekeeping business is likely to outgrow a sole proprietorship. When you hire employees or start to bring in a significant amount of revenue, then you’ll likely want to register an LLC.
Owning a bakery with a single location makes your business a good fit for a sole proprietorship because it is stable with low liability potential. You’ll have insurance to cover mistakes, such as food illnesses or slip and falls in your bakery. If you operate your bakery under any name but your own legal name, you will need to file a DBA (doing business as) with the state or local government.
Many bakeries need to hire employees unless they are specialty bakers in small towns with short hours or a special order-only policy. A small-town baker is often a good fit as a sole proprietor while a more growth-minded bakery will need to eventually form a business entity such as an LLC.
An educational tutor usually picks up clients as they can. They often go to the clients’ homes or meet them at libraries. This makes this a perfect fit for a sole proprietorship and is similar to the freelance examples above. There’s little to no liability for being a tutor, especially if you offer services in a public space.
Choosing to run your business as a sole proprietorship can be a good choice for businesses with a very low liability risk that don’t want to deal with the administration that other business entity types require. Business owners who aren’t fully committed to their business and are just dipping their toes into the water of entrepreneurship will find this to be a good immediate option.
There is no registration necessary to form a sole proprietorship in most places, but you should file for a DBA (doing business as) name with your state, city or county if you use a name for the business that is anything other than your own legal name.
Some areas require all businesses to register their information with the city or county even if they are sole proprietorships, so be sure to understand your local laws. Additionally, you may be required to obtain a license to conduct certain types of business in your area.
Deciding what type of business entity to use when starting a business is an important decision. You might be happy with a sole proprietorship or consider a partnership, LLC or corporation. Each comes with its own unique set of pros and cons . A sole proprietorship is the default business entity that your business falls into if you do nothing and are the only owner of your business. It carries the lowest setup fees and requires very minimal paperwork.
A sole proprietorship is typically the best option for very small businesses where no employees are needed. If you are in a low-liability profession and do not need investors, a sole proprietorship may be the right choice for you.
As your business grows and you need employees or investors or want more tax advantages, you can consider other entity types. In particular, if you become concerned about protecting your personal assets from the liabilities of your business, forming an LLC can be a great idea.
Click to get started.
Sole proprietorships and limited liability companies (LLCs) are used for different purposes. An LLC is typically best for businesses with more liability potential and those that need to hire employees. An LLC also gives you more flexibility in how your business is taxed since you can elect to be taxed as a corporation. Learn how to set up an LLC .
Businesses of all sizes will need a lawyer at some point, whether that is to register their business or to deal with a client that isn’t paying. The best online legal services are affordable and able to quickly solve your legal issues. You can read our guide to the best online legal services to learn more.
You can, but it requires you to dissolve the LLC first, which is known as a dissolution. The steps involved include getting approval from all members of your LLC and filing your dissolution documents with the state agency that you filed your articles of incorporation with, which was likely the secretary of state. Then, you have to alert all of your creditors that you are dissolving the LLC so that you can receive your final bills from them and pay them. You must also file all tax forms with the federal government as well as on the state and local levels if necessary. The final steps include transferring any assets that you have to the sole proprietorship, publishing your dissolution, such as in your local newspaper or a posting on your social media sites, and transferring all business licenses from your LLC to your sole proprietorship.
A sole proprietor is someone who owns a business independently and hasn’t registered it as another type of business entity. Many sole proprietorships never register with the state, but it is recommended to file a DBA if you are using a name other than your own legal name. Sole proprietorships do not have multiple owners, and they are not registered as LLCs or corporations.
Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right software for your unique situation, he brings his knowledge and diverse background to help answer the questions you have about small business operations.
Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Additionally, she is a Columnist at Inc. Magazine.
What is proprietary relates to ownership and the rights an owner may exercise in regards to his or her property or information. 3 min read updated on February 01, 2023
What is proprietary relates to ownership and the rights an owner may exercise in regards to his or her property or information. A proprietor is one that possesses, owns, or holds exclusive right to something.
Legally, what is proprietary often refers to proprietary information. Proprietary information is important, possibly sensitive information that a company owns. This information usually gives the company competitive advantage(s) in its market.
Things that can be used, known, produced, manufactured and/or marketed under the exclusive legal right of the inventor or maker may be proprietary. For example, a patented medicine is protected by intellectual property law against free market competition in regards to name, product, composition, or process of manufacture. If a manufacturer uses a particular manufacturing process that others do not know about ( trade secret protection ) or are forbidden to use (patent protection) then that is a proprietary process. A proprietary trademark is a name or logo that only the owner of that trademark can use.
If a business was in fact owned by and managed by an intelligence organization as a front, that would be proprietary to the intelligence organization.
Protection to these proprietary articles are through intellectual property law: copyright, patents, trademark, etc. Unfortunately, however, at some time down the line, proprietary items and processes will lose their legal protection. This is when the information becomes a part of the public domain. Once that happens, anyone can use the item, process, or trademark as they see fit.
Baseball fans have proprietary attitudes toward their favorite team. When their team wins they say “we won,” not “they won,” as if they own or are part of the team.
Municipal corporations must act in the best interests of the citizens. This is a proprietary function. This proprietary function is different than its governmental functions, which are duties drawn from being a political part of a state.
Proprietary information is very important for the success of most businesses. This property may not be valued, but it is very valuable. Especially due to the marketplace and its competitive nature. Intellectual assets are highly sought-after commodities.
Because of the value and importance of such property, companies often prohibit directors, employees, and agents from disclosing confidential or proprietary information without proper authority in non-disclosure agreements/clauses. Sometimes this prohibition extends to after the employment relationship has ended.
If a contractor is hired and received proprietary information in order to do his or her work, a company often requires him/her to give back the information or property and to keep the information confidential.
For information to be considered proprietary by a court, a company must treat the information as confidential. Courts will not find readily available information or public information proprietary. The information must also give the company a competitive advantage to be considered proprietary.
If the information is known to others outside of the company, then it will not give the company advantage. In order to be granted protection by a court, a company must also prove that it has taken “reasonable steps” to keep the information secret.
Courts do not require that companies take all possible measures to keep the information private. Courts do not require the secret to be absolutely or completely private. Reasonable steps in order to keep the information confidential must be “reasonable under the circumstances.”
A company has different ways to keep its information proprietary:
Companies should make sure that their covenants are reasonable in both time and location. Otherwise a court will not enforce them and will not restrict the unreasonable restriction of the former employee’s right to find a new job. They should also ensure that the employees that they do reveal trade secrets to have signed a confidentiality agreement of some kind or a court may not protect a trade secret of that small business.
If you need help with what is proprietary, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.
Hire the top business lawyers and save up to 60% on legal fees
Content Approved by UpCounsel
Published: June 18, 2024
Partnerships generate $3.9 billion per year in the U.S. and supercharge the revenue of companies like Microsoft, Atlassian, and Shopify. Teaming up with another professional or company can multiply your capacity, expertise, and growth.
With so much at stake, approaching a potential partner can be intimidating. Whenever I make a business pitch, there are three items I work to perfect. First, an underlying relationship to build on. Second, a stellar verbal presentation for a pitch meeting. And third, a killer partnership proposal.
A partnership proposal is a powerful tool to showcase your professionalism and convince your potential partner why they should collaborate with you. I’ve compiled what you should include in your proposal, plus four partnership proposal templates to give you a head start.
How to write a partnership proposal, partnership proposal template, partnership proposal examples, partnership proposal tips.
A partnership proposal is a document outlining the benefits, scope, and structure of a future collaboration between two businesses or individuals.
Most partnership collaborations begin with an idea and verbal discussions. “ Hey, here’s a crazy idea. What if we…” If you don’t know the person, start with a warm intro email or phone call first.
A partnership proposal is the next step in the process, formalizing concepts to align goals and gain buy-in. While it isn’t a legal contract, it’s often a precursor to one.
The essential document for starting a business -- custom built for your needs.
All fields are required.
Click this link to access this resource at any time.
Before creating a business partnership proposal, it’s important to understand which type of partnership you want to pursue.
When two or more individuals enter a business agreement and share unlimited liability, you have a general business partnership. A proposal for a general business partnership should include the share of ownership, contributions of each partner, the distribution of profits and losses, and the terms for dissolution.
A joint venture (JV) is an agreement between two companies to combine resources and expertise for a specific purpose. For instance, a global company might form a JV with a local company when bringing a product to a new country.
A limited partnership (LP) is a business partnership that includes at least one general partner and at least one limited partner. Limited partners have minimal liability and management oversight of the operations. An LP is common in single-purpose scenarios like a real estate transaction.
The LLP structure is common in professional service fields such as law firms, doctor’s offices, and accounting. Similar to an LLC, a limited liability partnership (LLP) is an agreement between partners that grants them limited liability. LLP requirements vary by state.
An influencer partnership is a limited-scope agreement between an influencer or creator and a brand to create and publish branded social media content.
A sponsorship is a collaboration between businesses, nonprofits, or media companies where one company pays for access to promote their goods and services to the other company’s audience.
When I write proposals, I always aim to personalize each one and find the right balance between personable and professional. While the nuances of each partnership model vary, there are a few common elements that every partnership business proposal should have.
Hook your reader’s attention with a summary explaining the partnership concept, key benefits, and a table of contents.
List each partner with their contact and background information. Specify the role each will have, and whether they are a general or limited partner. Make it visual, with photos or logos.
All good partnerships start with shared goals. Explain your goals and dreams for the partnership, from a high-level vision to specific objectives.
Share who your audience is and any key demographics. Make sure that your audience will fit with the partner’s audience, and vice-versa. An audience is a key selling point for partners, especially with influencer or sponsorship partnerships. Some brands go as far as account mapping to identify customer overlap, but general audience data can be as effective.
Next, define the scope of work and projects to be covered with the partnership. If this is for a limited-scope project like an influencer collaboration, give a precise breakdown of project steps. If this is for a general partnership, JV, or LP, list target activities and deliverables and who is responsible for each. Give timelines as appropriate.
If you’ve ever written a business plan, you’re likely already familiar with the SWOT analysis (strengths, weaknesses, opportunities, threats). Similar to this, give an abbreviated analysis of:
Propose terms and conditions for the partnership, like payment and revenue-sharing structures. Spell out who will own intellectual property generated by the company and how royalties will be distributed. Address how disputes or a partnership dissolution would be handled.
To test this out, I wrote a general partnership proposal between a web designer and a web developer who want to team up to start a website studio. I used HubSpot’s partnership business proposal template to build a professional proposal outlining the partnership benefits and structure.
Here are the steps I took to create the proposal.
To convince your partner, make the case why it’s worth them sharing their time (and profits) with you.
I started my proposal with an executive summary envisioning why the partnership would appeal to future clients. That leads into a “Benefits of Collaboration” section where I clearly outline the mutual advantages.
Related articles.
2 Essential Templates For Starting Your Business
Powerful and easy-to-use sales software that drives productivity, enables customer connection, and supports growing sales orgs
IMAGES
VIDEO
COMMENTS
For example, if AAP is going to convert to a S Corporation in the future, the company should be treated as a start-up in the initial business plan. If it will become an S Corporation, the company should be treated as a startup. ... When preparing a proprietary position business plan, you should include sufficient details on the product and the ...
This is why crafting a business plan is an essential step in the entrepreneurial process. In this post, we'll walk you through the process of filling out your business plan template, like this free, editable version: Download a free, editable one-page business plan template. We know that when looking at a blank page on a laptop screen, the idea ...
7 business plan examples: section by section. The business plan examples in this article follow this template: Executive summary. An introductory overview of your business. Company description. A more in-depth and detailed description of your business and why it exists. Market analysis.
A. Business description B. Business goals C. Summary of financial needs ad application of funds D. Earnings projections and potential return to investors III. Market Analysis A. Description of total market B. Industry trends C. Target market D. Competition IV. Products or services A. Description of product line B. Proprietary position: patents ...
This page titled 1.5: Chapter 5 - Business Planning is shared under a CC BY-SA 4.0 license and was authored, remixed, and/or curated by Lee A. Swanson via source content that was edited to the style and standards of the LibreTexts platform; a detailed edit history is available upon request. This chapter describes the purposes of business ...
Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. A good business plan is much more than just a document that you write once and forget about. It's also a guide that helps you outline and achieve your goals. After completing your plan, you can ...
Proprietary position (patents, copyrights, legal and technical considerations) ... Form of business (Sole Proprietor, LLC, Subchapter S, C Corporation, etc.) Principal / key employees. ... Sample Business Plan Outline Page 2 of 4 Rev. 9/2009. Author: BXNCRAM Last modified by: BXNCRAM Created Date: 9/12/2009 8:10:00 PM ...
Consultant Business Plan Template . An example of a document outlining your strategy for launching or expanding your consulting firm is a Consultant Business Plan Template. The essential elements include a summary of the company, team, sector, rivals, target audience, and an operations and marketing strategy.
SAMPLE MGMT4376 Assessment Rubric UNIVERSITY of CENTRAL ARKANSAS COLLEGE of BUSINESS BUSINESS PLAN JUDGING CRITERIA & SCORE SHEET Part 1: Business Plan Executive Summary (10 Points) Number of points: ____ ... current stage of development, proprietary position, and competitive advantages of the product or service. Management Team (5 Points ...
community benefits, etc.). Include a brief description of the business and its industry, as well as an explanation of the market opportunity. II. COMPANY BACKGROUND Name, nature of business, history, affiliates, stage of development, unique features of products or services, any proprietary position (patents, experience). III.
A robust business plan for a sole proprietorship encompasses several critical sections: Executive Summary: Your executive summary should succinctly encapsulate your business concept, target market, and competitive advantages. This section is crucial as it sets the stage for the detailed plan. Company Description: Offer an in-depth overview of ...
Create a Company Description. After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you'll need to ...
Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts. Example traditional business plans. Before you write your business plan, read the following example business plans written by fictional business owners.
Bottom Line. Writing an executive summary doesn't need to be difficult if you've already done the work of writing the business plan itself. Take the elements from the plan and summarize each ...
This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and ...
3. Make it unique and memorable. This statement should be unique to your company and the problems you aim to solve. When crafting your positioning statement, be sure to emphasize the distinctive qualities of your brand. Buyers should be able to see the special value that your business can offer or solve for.
A business model, covered in the Market Position Develop a Business Model handbook, describes the value your organization provides to the market and how you are compensated for your work. It includes information on the following: Your governance structure. A business plan, as covered in this handbook, explains how you implement your business ...
1. As an entrepreneur, it's important to assemble your knowledge into a content system that's easy to follow - a proprietary system. Clients frequently ask me how to put together their proprietary system and in what order the information should go. The confusion comes from the difference between working privately with clients versus group ...
For example. patents. copyrights. trade secrets. non-compete agreements. and other proprietary knowledge or skills. For many products. there are no proprietary rights and this subsection can be deleted. ... You Proprietary Position Business Plan could look for the perfect online service somewhere else. keeping the combination of quality and ...
Introduction. Start with a title. Include your name and the company you're writing the business plan for. A little personalisation will go a long way. Underneath your title, outline the objective of your business plan and again personalise it towards the agency you're interviewing with. While you have the hiring manager's attention, this ...
We've compiled a list of eight different types of businesses that make good sole proprietorship examples. 1. Freelance Writer. A freelance writer provides written content for clients, either for ...
Proprietary school means a school that uses a certain plan or method to teach a trade, occupation, or vocation for a consideration, reward, or promise of any kind. Proprietary school includes, but is not limited to, a private business, trade, or home study school. Proprietary school does not include any of the following:
A proprietor is one that possesses, owns, or holds exclusive right to something. Legally, what is proprietary often refers to proprietary information. Proprietary information is important, possibly sensitive information that a company owns. This information usually gives the company competitive advantage (s) in its market.
Take and adapt HubSpot's free business proposal template for a quick way to get started. I like this template because it's easy to use and available in both Word and PDF formats. The template comes with expert tips to guide you through each section, from understanding the problem to pitching the solution. Download the free template here.