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General Letters

Business Letter Format About Ending a Partnership

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While calling quits to an official business partnership, you are required to end it formally by writing a letter and informing your partners before it. These sample letters can help you write your own. Partnership Termination Letter. You can follow the format shown below and modify these easily by using your personal information.

Sample Business Letter Format For Ending a Partnership

To,

Mr. Mahindar Singh,

Spark Communications ltd.

Mumbai,

Subject: Official Notice to terminate the partnership deed.

Mr. Mahindar,

I am writing you this to inform you that I have decided to terminate the partnership we both entered to establish and run this company. As per the deed terms, the one who would like to end the partnership would have to write to the other partner about it a month ago, hence I am writing you this to inform you that I will no longer be managing the business with you. We both decided to establish and run this business together and share the profits in the ratio of our respective investment that is 60% of your contribution to this business. I was pretty satisfied with this business last year but as per the agreement we both had to actively participate in the operating activities to run our business. You being a busy person for some reason have left all the responsibilities on me. I have been managing the business all alone which is disturbing my personal life too because I have to spend more than office hours working and still 60% of the earning are going to you directly without being involved in the business.

I am no longer satisfied with this partnership and want to terminate this. It depends on you either you can take up the all the company by giving me my share or you can leave with your part of share or we will have to wing up this company.

I am giving you a favor by letting you decide what you want to do.

Thanks,

Ajay Devgan.

Easy Business Letter Format For Ending a Partnership

To,

Mr. Abhinandan Kumar (Co-founder) Aspire Pvt ltd,

Delhi,

Subject: Notice to end the partnership deed.

Mr. Kumar,

I hope you are doing great, I am writing you this to bring it to your notice that I have decided to end our long-going partnership. We worked for 10 years together, saw a lot of rises and more lows but we sustained all through it together. I appreciate all the contributions that you made to make our business work and grow. But being practical we both know that this business has been facing losses from the last year and despite both of us investing more, staying more active, and using different strategies nothing has worked to revive it. In light of this unfortunate situation, I have decided to free both of us from this and terminate this partnership and put an end to this company. According to the terms of our partnership, if the business ends due to unavoidable losses, after winding up, the remaining liabilities or assets whichever present will be divided equally among both of us, I will appoint our lawyer to prepare the documents and assign us our respective share. It was a worthwhile experience working with you.

Thanks,

Vishal Khanna.

Business Letter Format For Ending a Partnership

To,

BK Auto ltd,

Mr. Kumar,

Subject: Official notice to terminate the partnership deed.

Mr. Kumar,

I hope you are doing great Kumar, I am sending this official notice of ending the partnership contract that we made to establish and run this company. We made this company and then turn it into a brand. My heart aches to leave all this here, after working so hard for it, but for a better and my ideal future I am moving to Scotland. As I am moving permanently so I want to wind up every business I have here back in India. In this regard, I want to end our partnership and want you to go ahead and be the sole owner of this company after giving me my share as the partnership agreement stated. If you agree to do so which I am sure you are, I will pass the official documents to end the partnership to our financial lawyer to prepare the final documents to terminate this contract and provide me with my share out of the Company’s assets.

Thanks, Bajaj Khanna.

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Social Media has Played a Big Role in Increasing Business Opportunities

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This digital age has helped make us all live in a Digital world by now where we are buying, paying, connecting, and living digitally. All of our lives and activities are conducted online these days.

Social Media has played a big Role in Increasing Business Opportunities

Using Social Media to your Benefit.

This is the time to use social media to your benefit especially to Earn Money as we have seen businesses doing this in recent years and multiplying their annual turnover.

Social media plays a big role in giving Business bodies getting the opportunity to connect with the masses, grow their reach, and simply make thrice amounts of profit.

The Significant role of Social Media in Business

Saying that businesses can not operate without social media now won’t be wrong at all. There are numerous social sites created solely to find work and clients now all work is being shifted online. Freelancing to provide any kind of services to clients coming through social media has benefited every working person.

But for businesses, social media is playing a wider and more significant role. Businesses are marketing their product and services online directly. They are gathering all the potential customers before they even think of buying from the business.

Has Created new Strategies.

social media has eliminated all old ways of business and has made business entities into an online working indiuidial that interacts directly with its clients. Businesses now can have a better and efficient interaction with their customers knowing their preferences and the things they want more to improve. The biggest benefit is the feedback from customers in the form of complaints that has helped businesses make their goodwill in the market by dealing with the complaints quickly and satisfying their customers and proving their excellent services to potential customers. Making them a trusted brand for people.

Another important part of humanizing the brand is getting honest reviews from satisfied customers. These reviews help more people on trusting the brand and increase sales.

Aggressive but Cost Efficient Advertisement

One of the greatest strategies social media gifted to business bodies is a cost-efficient advertisement. Not the regular advertisements but aggressive and efficient targeting the niche market but all the potential customers and people. Using social media apps and advertisement strategies businesses started aggressive advertisement at a very low cost using the popular apps all the potential clients use. One big example is how people used TikTok a social media app to advertise and aggressively advertised their small businesses during the global lockdown. Numerous business bodies emerged from social media and only exist due to social media marketing and got famous.

Collaborating with influencers with a huge number of following

Another game-changing thing social media has gifted to brands was the new opportunity to interact with famous celebs or influencers online. Asking for paid reviews and advertising their products through them. These famous people post and give reviews for products to their huge fan following this way new people find about the brand but also get a review. Smart ain’t it?

Conclusion

In conclusion, social media has changed the game of competition in businesses and profits. It has established many brands and has also let people know about the bad side of some bands. It has helped people by letting them know about all the scam businesses and gave huge profits to the brands who were not well known without it. From small businesses to luxurious brands social media has made them all and kept them alive too.

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HOW TO START ANY BUSINESS?

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WHO IS AN ENTREPRENEUR?

 

Opportunities don’t happen. You create them.”

— Chris Grosser

A person who is running his/her own business is known as an entrepreneur. There are different kind of businesses people are doing these days. Some people own small business-like home bakeries, and handmade items which they are selling on the other side they are people who are handling the big multinational companies. But, the formula for a successful business remains common in both these states whether you run a big company or a small business that you run from your house. And the person who holds and manages everything is known as an entrepreneur.

 

WHY WE SHOULD OWN OUR BUSINESS?

This is the era of progression where everyone is so much concerned about their work and life. In these hasty changes, it is really hard to work for others because at some point we might get swapped from someone who is better than us or maybe from the robots. Working for someone is not a big thing but there is no harm choosing and working on something that you like. Think for a while, that for how long you can work for someone. The same energy if you put in your own work for your own company or business It might do the miracle for you or take you somewhere.

 

WHAT KIND OF BUSINESS ARE EFFECTIVE?

This is the primary thing that most people think when they are generating a sense of doing something for themselves. That what should we select? Is it a good option? Should I really go for it? Oh, wait! Someone is doing this and they are making hell loads of money out of it. I should do that too. For things like this, it’s a big no. DO WHAT YOU WANT TO DO AND WHAT YOU THINK YOU CAN DO BETTER THAN OTHERS. Maybe if someone is earning money through baking you might end up wasting your money because you even don’t know how to bake, or you don’t have enough resources for this. So, always make a good way for yourself don’t look towards other people what they are doing it for themselves. Look for something that you can do for yourself, especially, focus on your skills and utilize them.

 

TIPS TO START YOUR OWN BUSINESS

  • THINK BIG

The first step is to think big so that you can go for something new. Think out of the box that you can do something for your own. The motivation of starting a new thing comes when you think out of the box without any fear.

 

  • EVALUATE YOURSELF

See what you can do, make a list of your own skills and see what you are capable of. This thing will help you to evaluate yourself and you can better analyze what sort of skill you can further pick for your work.

 

  • ENCOURAGE YOURSELF

Many people will come to put you down and to make you feel worthless they will probably laugh at you and at your idea but do not bother them. Be your own motivation and when you see the motivation coming through your own source you can do things more effectively.

 

  • KNOW YOUR PLAN

You should consider yourself the only person who is going to approve the idea. Know what are you doing, make your mind that if you understand it and you are clear with the concept then probably you can do it.

 

  • MARKET RESEARCH

You need to first check what is the market value of your idea. Search whether it will work or not. Market research is really important before starting any business you get to know more about your plan and get more clarity.

 

  • SET A BUDGET

Always and always set a budget for your business whether it’s a small business or a big company you need to set your assets that how much money you can spend on your business and is it worth spending. Be smart! When it comes to spending your money.

 

  • DO NOT STRESS

Keep yourself out of the zone of stress and do not overthink. It will help you to stay in a lane of positivity. Keep stress away from you or else you cannot work.

 

  • STAY POSITIVE

Try to be positive as much as you can. Positivity is the key to a successful business. Surround yourself with positive people and believe in yourself do not fear the failure.

 

  • BELIEVE IN YOURSELF

Self-confidence is really significant if you are about to start your own business believe in yourself and do with confidence. Things will ultimately work out for you.

 

  • DISCUSS YOUR PLAN

A great discussion with your fellows or family is really important. Discuss your business plan with people who can help you to improvise things. There is always a room of improvement for you so never keep things on your side but also share them with the people who you think can help you and motivate you.

 

 

CONCLUSION:

You need less money and more motivation to start your own business. Do not feel hesitate to take the risk. Business is the name of risk you will experience a lot of things for the first time you will notice that day by day things are getting better. Stay consistent and never expect too much in the beginning especially, you will learn how business works. So, give it a try for yourself.