Category: Business Plan In Excel

What are baby monitors?

What are baby monitors?

Baby monitors for babies are basically devices made up of two units: one that transmits a signal and one that receives it. The signal can only be sound, but also video. The unit that emits the signal is placed in the baby’s room best pack and play for newborn, possibly near the cradle, and is a kind of microphone that is activated whenever the baby cries or makes an abnormal noise. The receiving unit, on the other hand, is placed in the room where one of the two parents is, so that whatever happens (the child wakes up, cries, etc.) can intervene promptly.

By doing this, you can be sure your little one is fine even when, for one reason or another, you are in a different room. These products are marketed all over the world and more and more fathers and mothers decide to choose them. Particularly useful is the device during, perhaps, the night. You will be able to place an eye and ears directly in the room where the baby sleeps and, in case of sudden awakenings or any problems, you can immediately intervene.

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How does it work?

These devices are as useful as they are simple. They are collected of two foremost objects:

A device, equipped with a camera, microphone and any additional components to be placed near the child;

A display, more or less accurate, which reproduces both the images and the sound collected by the previous product presented.

Each model has a maximum radius. As with classic walkie talkies, in fact, you will not be able to afford to excessively distance the two main components. Many baby monitors are also equipped with a night light, which allows parents to have excellent vision even during the night, and a speaker that spreads familiar sounds to the child. The more expensive and modern models also offer additional tools, such as sensors that allow you to follow the movements of the child

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How to choose a baby monitor?

There are variables that you will have to consider to make the best choice that can satisfy all your expectations. Always remember that, being a very important product for the safety of the child, it is advisable to opt for something more expensive that can ensure higher quality, additional tools and, consequently, great safety. The two units of the baby monitors are obviously mobile and work as if they were walkie-talkies. The sector offers a great variety of models, equipped with specific technologies and functions. To choose the best baby monitor model for new borns, several aspects must be taken into consideration.

The first aspect is that of communication technology. The two units (the transmitter and the receiver) must communicate with each other via wireless systems, to make this instrument truly versatile. At the same time it is important to consider the distance between one camera and another and, consequently, the signal strength.

The other feature to consider when choosing baby monitors is that of versatility. The baby monitors, in fact, can be integrated with infrared cameras (to see the baby even at night), motion detectors (to find out if there are strangers in the room), temperature sensors (to record anomalies and prevent the room becomes too hot or too cold), etc. In some cases it is also possible to buy baby monitors that allow you to talk from one room to another (and beyond). The transmitter unit, in fact, in addition to the microphone can also be equipped with a loudspeaker, so that the parents can talk and the child listen. This is a very useful feature especially for those parents who turn to babysitters in their absence and who want to reassure their baby if they cry not seeing them at home (this feature is available for remotely controllable devices).

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What is a business plan for? To convince partners!

The business plan is also a communication tool with your partners. Some suppliers, and your financial partners (banks and investors) will not fail to ask you to send them a business plan before doing business with you.

In this context, the business plan takes on another dimension: it must convince.

When addressed to a supplier, the business plan must highlight both the business opportunity for the latter – that is to say, highlight a level of forecast order volume that is credible and attractive – and the the financial soundness of your business – that is, reassuring the supplier against any risk of default on your part.

If you apply for financing from your bank, they will also assess the financial soundness of your project: what are the chances of the business being successful? What is the level of debt in the capital structure? Will the business generate enough cash to pay the interest and repay the principal? Will the weight of the debt requested leave enough resources for the company to develop?

Finally, when it is intended for an equity investor, the business plan must highlight the potential return on investment of the project. Your business plan must be able to convince the investor that the profitability of the project will be sufficient to offset the risk he takes by investing in the company and that the latter has the means to achieve the objectives set in the plan. .

To be successful in convincing, your business plan must be read. But your interlocutors have better things to do than read a little about your business. The business plan is therefore also an exercise in form.

In addition to the content, your business plan must therefore be perfect in form in order to make your future partner want to read it. This is due to a few elements: a clear and airy presentation, content that goes straight to the point, and a good catchphrase: that is, a good executive summary .

Is it essential to make a business plan?

You have now realized the importance of this task, but also its time consuming side. It is therefore normal to expect us to answer you yes: the business plan is essential.

Making a business plan will be for the future, it will allow you to project yourself and get an overview of the financial potential of your business.

Also know that a banker or an investor will not take you seriously without a business plan, you must therefore arm yourself with a professional document with a realistic forecast and explanations that hold up.

Which tool to choose to make a business plan?

It is up to you to decide how you will implement your business plan, however here are some tips.

Choose to create a business plan in Excel

This solution is the cheapest, but not the easiest. Indeed, without knowledge of accounting, financial modeling, and office automation, it will be difficult for you to obtain a reliable forecast.

Call on a chartered accountant or consultant

A support professional will offer you invaluable help in setting up your business plan. However, check that he is familiar with your field of activity, and that he is able to make a critical judgment on your turnover assumptions. Also pay attention to the cost generated by fees which can quickly rise, especially if your project evolves after the first version on the forecast.

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