ITQ

Sources of Finance For Anyone Thinking of starting a small Business

2012-11-04T06:03:00.000-08:00

Introduction

My Name is Andrew Gere and this is a small booklet I have put together to help young entrepreneurs looking to start up their own small business.

Often the hardest part of starting a business is raising the money to get going. The entrepreneur might have a great idea and clear idea of how to turn it into a successful business. However, if sufficient finance can’t be raised, it is unlikely that the business will get off the ground.

Raising finance for start-up requires careful planning. The entrepreneur needs to decide:

· How much finance is required?

· When and how long the finance is needed for?

· What security (if any) can be provided?

· Whether the entrepreneur is prepared to give up some control (ownership) of the start-up in return for investment?

Sources of finance

Definition

A finance source, or financing method, helps an organization meet short-term operating needs, such as paying for costs of materials, salaries and other administrative expenses.

Financing is a significant business practice in modern economies. A firm with no access to financial markets or unable to raise funds privately may have difficulties operating. Senior leaders may be unable to set long-term goals without funding.

Types of sources of finance

There are two major types of sources of finance they are Equity and debt financing products.

Small businesses can get money through "equity financing" or "debt financing." Equity financing means that you sell stock in your company to a buyer, who then has an ownership interest in your company. Debt financing means a loan -- you owe the person who holds the debt (usually a promissory note) the amount borrowed.

Equity products include shares of common stock and preferred stock. Debt products include bonds, private loans and overdraft agreements.

Equity Financing

Equity financing also known as “share capital” is the act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation.

Equity financing helps top leadership raise funds by selling shares of equity, or stocks, on securities exchanges. A shareholder, also called stockholder, receives regular dividend payments and makes profits when share prices rise.

Debt financing

When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise that the principal and interest on the debt will be repaid.

Internal sources of finance

Internal sources of finance are funds found inside the business. For example, profits can be kept back to finance expansion. Alternatively the business can sell assets (items it owns) that are no longer really needed to free up cash. This approach to financing business activities is only possible when the business's principals have sufficient funds at their disposal to allocate some for their company's use.

Traditionally, the major sources of finance for a limited company were internal sources:

· Personal savings

· Retained profit

· Working capital

· Sale of fixed assets

Personal savings

Quite simply, personal savings are amounts of money that a business person, partner or shareholder has at their disposal to do with as they wish. If that person uses their savings to invest in their own or another business, then the source of finance comes under the heading of personal savings.

Although we would generally discuss personal savings as a source of finance for small businesses, there are many examples where business people have used substantial sums of their own money to help to finance their businesses. A good and very public example here is Jamie Oliver, the television chef. Jamie financed his new restaurant, 'Fifteen', using fifteen raw recruits to the catering trade and a large amount (£500,000) of his own cash.

Retained profit

Simply put this is money re-invested back into the business, usually to improve or expand it

When a business makes a profit and it does not spend it, it keeps it - and accountants call profits that are kept and not spent retained profits.

The retained profit is then available to use within the business to help with buying new machinery, vehicles, and computers and so on or developing the business in any other way. Retained profits are also kept if the owners think that they may have difficulties in the future so they save them for a rainy day!

Working Capital

Working Capital

This is the short-term capital or finance that a business keeps. Working capital is the money used to pay for the everyday trading activities carried out by the business - stationery needs, staff salaries and wages, rent, energy bills, payments for supplies and so on. Working capital is defined as:

Working capital = current assets - current liabilities

Where:

Current assets are short term sources of finance such as stocks, debtors and cash - the amount of cash and cash equivalents - the business has at any one time. Cash is cash in hand and deposits payable on demand (e.g. current accounts). Cash equivalents are short term and highly liquid investments which are easily and immediately convertible into cash.

Current liabilities are short term requirements for cash including trade creditors, expense creditors, tax owing, dividends owing - the amount of money the business owes to other people/groups/businesses at any one time that needs to be repaid within the next month or so.

Sale of fixed assets

This is selling of what is no longer required (turn the asset back into cash).

A fixed asset is anything that is not used up in the production of the good or service concerned - land, buildings, fixtures and fittings, machinery, vehicles and so on. At times, one or more of these fixed assets may be surplus to requirements and can be sold.

Alternatively, a business may desperately need to find some cash so it decides to stop offering certain products or services and because of that can sell some of its fixed assets. Hence, by selling fixed assets, business can use them as a source of finance. Selling its fixed assets, therefore, has an effect on the potential capacity of the business - the amount it can produce.

The pros of internal sources of finance

You contributing your own money to your business is the easiest way to finance it.

Some of the pros of internal sources of finance include;

· Decision-Making Freedom

When you finance your business activities internally, you are not accountable to any outside entity. You don't need to explain your business decisions to anyone outside your company or seek their approval before making changes or expanding. This decision-making freedom enables you to weigh personal as well as financial considerations when choosing the right course of action for your business.

· Flexibility

Internal financing allows you considerably more flexibility to pay back than outside sources of capital. If you finance your business internally and you experience a slow period that makes it difficult for you to repay a loan according to the schedule you have outlined, you can simply make an extra payment the next month. With internal financing it is usually easy to adjust payment terms in accordance with your current business cash flow and other unanticipated circumstances.

· Credit Score Consequences

If you finance your business internally and have difficulty making your payments, this will not affect your credit score because you will not report yourself to the major credit agency if things do not go as planned.

The Cons of Internal sources of finance

As easy as it seems to fund your small business through sources of internal finance it has some important drawbacks

Capital Needs

The chief concern with internal financing is that when you take money from your operating budget or capital, it leaves you with less money to manage daily expenses. In this way, using internal sources of financing for company endeavours can compete with budgets already in place. For this reason, internal investment is usually used to finance small projects and investments, where the costs are small, the payback quick, and the estimated returns significant.

Discipline

Moreover, internal financing is so easy that it leads to a lack of discipline. The company risks becoming inefficient or even complacent unless it strictly monitors the project's investment, budget and any increase in earnings that stems from the project. These actions would normally be required if the company took on debt, such as a loan, or used external financing like issuing stock.

Loss of assets

If you throw all your personal savings into a business venture, you could lose it all. Some assets, such as retirement accounts, are safe from creditors and bankruptcy courts; placing such assets at risk may not be good for you, especially if you're approaching retirement age and are running out of time to rebuild depleted accounts.

External sources of finance

Start-ups and small firms are considered very high risk and find it difficult to raise external finance.

External sources of finance are found outside the business, e.g. from creditors or banks.

Short-term sources of external finance

Sources of external finance to cover the short term include:

An overdraft facility, where a bank allows a firm to take out more money than it has in its bank account.

Trade credits, where suppliers deliver goods now and are willing to wait for a number of days before payment.

Factoring, where firms sell their invoices to a factor such as a bank. They do this for some cash right away, rather than waiting 28 days to be paid the full amount.

Long-term sources of external finance

Sources of external finance to cover the long term include:

Owners who invest money in the business. For sole traders and partners this can be their savings. For companies, the funding invested by shareholders is called share capital.

Loans from a bank or from family and friends.

Debentures are loans made to a company.

A mortgage, which is a special type of loan for buying property where monthly payments are spread over a number of years.

Hire purchase or leasing, where monthly payments are made for use of equipment such as a car. Leased equipment is rented and not owned by the firm. Hired equipment is owned by the firm after the final payment.

Grants from charities or the government to help businesses get started, especially in areas of high unemployment.

The pros of external sources of finance

External sources of finance have a number of big advantages over the internal financing options.

Faster Growth

A business needs investments to grow. Even the most profitable companies cannot rely solely on reinvested profits to finance their expansion. Accordingly, a business needs to secure bank credit, partner with venture capital firms or in any other way tap external sources of finance. External finance provides the room for faster growth, allowing the company to operate on a far bigger scale, capturing new markets and providing products and services to an ever greater number of customers.

Greater Economies of Scale

Large businesses are generally more efficient than small ones. They have a greater bargaining power with suppliers and they can spread their fixed costs, such as administrative expenses, over larger sales. This results in lower costs per unit of production, which, in turn, gives the company a competitive edge in the marketplace. External sources of finance help a company grow faster, achieving the economies of scale necessary to compete with the rival firms on regional, national, or even international level.

Preserving Your Resources

One of the advantages of external funding is it allows you to use internal financial resources for other purposes. If you can find an investment that has a higher interest rate than the bank loan your company just secured, it makes sense to preserve your own resources and put your money into that investment, using the external financing for business operations. You can also set aside your internal financial resources for cash payments to vendors, which can help improve your company's credit rating.

The cons of external sources of finance

Working capital is important, but a business should carefully consider the disadvantages of external financing before it is undertaken.

Profit share

If the business is making profits, a percentage of its profit has to be distributed to shareholders and other firms where it has gotten finance from.

Loss of ownership

Some sources of external financing, such as investors and shareholders, require you to give up a portion of the ownership in your company in exchange for the funding. You may get that large influx of cash you need to launch your new product, but part of the financing agreement is the investor is allowed to vote on company decisions. This can compromise the vision you originally had for your company when you founded it.

Interest

The cost of external financing is a major factor.

External funding sources require a return on their investment. Banks will add interest to a business loan, and investors will ask for a rate of return in the investment agreement. Interest adds to the overall cost of the investment and can make your external funding more of a financial burden than you had originally planned.

Conclusion

Whether you're starting a new business from scratch or operating a successful business already, securing financing first requires you to think about the best method to go about it.

The choice of a source of finance depends on the following factors

· Funding availability: The first thing to do when choosing a method of financing your business is to determine what your ranges of options are.

· Personal savings: When drawing on personal savings for investment in a business, decide how much you can risk without adversely affecting your personal circumstances.

· Banks: The factor to consider here is whether you are willing to do the necessary work before you go ask for a loan.

· Cash needs: before thinking of getting loans you should have a good knowledge of how much you need

I hope you find this booklet useful!

ITSMAGIC

2012-06-21T07:35:00.002-07:00

1. Cannot get Excel to load the spreadsheet developed at home over the weekend. Urgent as need to prepare report for company auditors. - The problem is that the excel that you have at home is a different version (via older) that you have at work, therefore this document is set at a different format there fore the document can not load. A way to get around this is you will have to upgrade the version of excel that you have at home to the one or better than the one you have at work in order to get the document to load.

2. Cannot log into system - There could be a wide range of problems regarding this which include, the users username or password is wrong (be careful as these systems are usually caps lock sensitive), the network cable may not be plugged in there fore try and see if your connected to the network, or your workstation isn’t connected to the network in order for you to log in, if this is the case then your workstation needs to be connected to the network.

3. Cannot make orders print off - The user may not be sending the document to the right printer, if this is the case the user needs to find out the name of that printer and assign the document to that printer. The printer may not be turned on for the document to be printed off there fore turn it on. There may not be any paper inside the printer for the document to be printed there fore the user needs to enter in some paper.

4. Cannot access orders list from new machine installed last week, cannot even find database package. - The problem with this is the database package hasn’t been installed onto that machine, a way to get around this is to install that database system and then the document can be viewed by the user.

5.Same problem as yesterday. - Likely problem is your machine hasn’t been connected to the network, in order for you to overcome this problem your machine needs to be connected to the network so you can access the network files.

6. Mouse keeps jumping then screen locks out, trying to print out college assignment finished at home last night, screen displays message ‘Gotcha’. - The problem with this machine is you have been hacked into therefore shut down the machine by turning it off manually and then contact your technical support unit for them to install or upgrade your firewall system so this doesn’t happen again.

7. Got new piece of design software that needs installing on machine and making compatible with printer. - A way to solve this is to install the design software onto your machine and find a printer driver that can link the software and your hardware in order for documents to be printed off.

8. Went to check orders list and screen went ‘pop’ with a nasty smell - Your monitor has just burst and can not be used again, un plug the monitor and dispose off it under the right measurements of disposing electric components.

9. Need access to documents stored on Fredya’s machine but her machine won’t get past boot up stage. - A way to get around this is to either boot it up on a different machine, or to re install the OS.

2012-04-22T09:51:00.001-07:00

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free past examination question papers

2012-04-09T04:53:00.000-07:00

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2012-01-07T10:24:00.000-08:00

Click the start and then choose the control panel option

2.Control panel window opens up. click Display

3. Choose one of the following:
Smaller-100%. This keeps text and other items at normal size.

Medium-125%. This sets text and other items to 125% of normal size.

Larger-150% This sets text and other items to 150% of normal size. this option appears only if
your monitor supports a resolution of at least 1200 x 900 pixels.

Desktop theme/background for windows 7

2011-12-06T13:42:00.000-08:00

To change the desktop background and possibly the theme, right-click on the desktop and choose Personalize.

Compared to Windows XP, the new menu is a little more cluttered, hence more confusing, but after a moment or two, you'll get the idea what's going on.

Themes

You can switch between different themes, Basic being the sickly blue theme we're currently using, Windows Classic being the reliable, good ole theme that you should be using, plus a handful of other, less common ones. You also get numerous Aero themes if you wish to use them.

Regardless of the theme you choose, you can setup different Windows colors and backgrounds.

How to change screen resolutions in Windows 7

2011-12-06T13:27:00.000-08:00

To change the screen resolution in Windows 7, you need to use the Screen Resolution dialog box that can be opened via the Control Panel.

Use the following steps to open the Screen Resolution dialog box.

1 – Click on the Start Menu.

2 – Click on Control Panel.

3 – Click on Change desktop background.

Areas to take note of:

Resolution

This dropdown menu shows you the currently selected screen resolution on your PC and allows you to change the screen resolution settings.

Changing the Screen Resolution

Click on the Resolution dropdown menu to reveal the adjustment slider bar. Move the slider bar up and down to change the settings. Notice as you move the adjustment slider bar up and down, you can see a mini preview of the new settings in the screen above.

Once you’re happy with your new screen resolution settings, click on the Apply button to save them. You will then be presented with a confirmation box asking you whether you would like to confirm the change or to revert back to the previous settings.

Power saving options For windows 7

2011-12-06T13:18:00.000-08:00

First, it helps to get acquainted with Windows 7 Power settings. It's easy to reach the Power Options control panel, just hit the Start Button and select Control Panel in the second, shaded column on the right.

Now select All Control Panel Items...

...and make your way down to Power Options and click. (Alternately, select System and Security, then Power Options.)

After clicking on the Power Options icon, you're asked to Select a Power Plan.

There are two options that are immediately available: Balanced (the default) and Power saver. Balanced turns off the display after 10 minutes of inactivity and puts your computer into sleep mode after 30 minutes. Power saver halves those times to 5 minutes and 15 minutes respectively.

More proof that Microsoft is making you work at disabling power management options, users will have to open Show additional plans to display a third, High performance profile that shuts off the display after 15 minutes but never enters sleep mode.

Apart from that, you can create your own custom power plan by selecting the link on the left or editing an existing plan and tweaking the advanced settings to your liking, including whether to prompt for a password when your computer wakes and assign a power setting (like sleep or shutdown) to the power button.

For me, Balanced works well right off the bat. After 10 minutes of no input, the screen goes predictably dark, and after 30 minutes, there's no hard drive activity. After a good shake of the mouse, my system (an aging 2.2 GHz AMD Athlon 64 X2 with 2 GB of memory) wakes from sleep in less than 5 seconds, plus an extra couple of seconds to reestablish my network connection.

Setting Up Your Mouse in Windows 7

2011-12-06T12:12:00.000-08:00

To configure the mouse click settings in Windows 7, click ‘Start –> then search for and select ‘Change mouse click settings’

Next put a check into the box ‘Switching primary and secondary buttons’ and click ‘OK’ with secondary button.

How To Install and Troubleshoot Serial ATA (SATA) Hard Drives

2011-12-06T09:39:00.000-08:00

Serial ATA interface disk drives are designed for easy installation. It is not necessary to set any jumpers, terminators, or other settings on this drive for proper operation. The jumper block adjacent to the SATA interface connector on SATA 150MB/s drives is for factory use only. The jumper block adjacent to the SATA interface connector on SATA 300MB/s drives can be used to force the drive into SATA 150MB/s mode for use with older SATA controllers that only work with SATA 150MB/s drives.

With a Serial ATA interface, each disk drive has its own cable that connects directly to a Serial ATA host adapter or a Serial ATA port on your motherboard. Unlike Parallel ATA, there is no master-slave relationship between drives that use a Serial ATA interface.

You can use a Serial ATA drive in the same system with Parallel ATA drives as long as both interfaces are supported on the motherboard or with a host adapter. This makes it easy to add Serial ATA compatibility to your existing system without removing existing Parallel ATA disk drives.

What You Need

· A Phillips screwdriver and four 6-32 UNC drive mounting screws.

· A Serial ATA interface cable (sold separately). Maximum length is 39 inches (1 meter).

· A Serial ATA-compatible power cable or adapter (sold separately).

· A version of Windows with FAT32 or NTFS file system.

· A system with a motherboard that has a Serial ATA connector on it, or a Serial ATA host adapter and available PCI slot in which to install the adapter.

Refer to your computer system documentation to see if your system supports Serial ATA on the motherboard and to locate the Serial ATA connector. If your system does not have a Serial ATA connector on the motherboard, you must purchase a Serial ATA host adapter that is compatible with your computer and operating system and install it with the appropriate device driver according to the host adapter manufacturer's installation instructions.

Handling Precautions

Disk drives are fragile. Do not drop or jar the drive. Handle the drive only by the edges or frame. Keep the drive in the protective anti-static container until you are ready to install it to minimize handling damage.

· Drive electronics are extremely sensitive to static electricity. While installing the drive, wear a wrist strap and cable connected to ground.

· Turn off the power to the host system during installation.

· Do not disassemble the drive. Doing so voids the warranty.

· Do not apply pressure or attach labels to the circuit board or to the top of the drive.

Attaching Cables and Mounting the Drive

1. Attach one end of the drive interface cable to the Serial ATA interface connector on your computer's motherboard or Serial ATA host adapter (see your computer manual for connector locations). Host adapter configuration is shown below.

Note: Serial ATA connectors are keyed to ensure correct orientation.

1. Attach the interface and power cables to the drive.

2. Secure the drive using four 6-32 UNC mounting screws in either the side-mounting or bottom-mounting holes. Insert the screws no more than 0.20 inches (5.08 mm) into the bottom-mounting holes and no more than 0.14 inches (3.55 mm) into the side-mounting holes.

Note: Do not over tighten the screws or use metric screws. This may damage

the drive.

Configuring the BIOS

Close your computer case and restart your computer. Your computer may automatically detect your new drive. If your computer does not automatically detect your new drive, follow the steps below.

Restart your computer. While the computer restarts, run the system setup program (sometimes called BIOS or CMOS setup). This is usually done by pressing a special key, such as DELETE, ESC, or F1 during the startup process.

Within the system setup program, instruct the system to auto detect your new drive.

Save the settings and exit the setup program. When your computer restarts, it should recognize your new drive. If your system still doesn't recognize your new drive, see the troubleshooting section on the back of this sheet.

Note: Serial ATA is a new interface type. Some older systems may see the drive and classify it as a SCSI device if you are using a Serial ATA host adapter. This is normal even though this is not a SCSI disc drive. Many systems’ BIOS will not identify a Serial ATA drive connected to a PCI SATA host adapter. This is because a PCI SATA Host Adapter has its own BIOS which is used to identify hard drives connected to it which is separate from the BIOS of the computer. To determine whether or not the SATA Host Adapter is detecting the Serial ATA hard drive, please consult the documentation provided by the Serial ATA Host Adapter’s manufacturer. This does not affect drive performance or capacity.

How To Install Clean Windows 7

2011-12-06T07:58:00.000-08:00

To begin the Windows 7 clean install process, you'll need to boot from the Windows 7 DVD.

Watch for a Press any key to boot from CD or DVD... message similar to the one shown in the screenshot above.

Press a key to force the computer to boot from the Windows 7 DVD. If you do not press a key, your PC will attempt to boot to the next device in the boot order, which is probably your hard drive. If this happens, chances are your current operating system will boot.

Note: If you existing Windows installation begins to boot or you see a "No Operating System Found" or "NTLDR is missing" error here instead of the screen above, the most probable reason is that your PC is not setup to boot to the CD/DVD drive first. To correct this problem, you'll need to change the boot order in BIOS to list the CD/DVD drive first.

Note: It's perfectly fine if, instead of the screen above, the Windows 7 setup process begins automatically (see the next step). If this happens, consider this step complete and move on.

You don't need to do anything at this point but wait for Windows 7 to finishing loading files in preparation for the setup process.

Note: No changes are being made to your computer at this time. Windows 7 is just temporarily "loading files" into memory for the setup process. You'll be removing everything on your computer as part of the Windows 7 clean install in a future step.

After the Windows 7 install files are loaded into memory, you'll see the Windows 7 splash screen, indicating that the set-up process is about to begin.

You don't need to do anything at this point.

Choose the Language to install, Time and currency format, and Keyboard or input method that you'd like to use in your new Windows 7 installation.

Click Next.

Click on the Install now button in the centre of the screen, under the Windows 7 logo.

This will officially begin the Windows 7 clean install process.

Note: Do not click the Repair your computer link at the bottom of the window even if you're completing this clean install of Windows 7 as part of some larger repair project for your computer.

The Repair your computer link is used to start a Windows 7 Startup Repair or perform another recovery or repair task from System Recovery Options.

Important: If you're performing a clean install of Windows 7 as a solution to a major problem but have not yet tried a Startup Repair, do that first. It could save you the trouble of completing this clean install process.

The Windows 7 setup process is now beginning.

No need to press any keys here.

The next screen that appears is a textbox containing the Windows 7 Software License.

Read through the agreement, check the I accept the license terms checkbox under the agreement text and then click Next to confirm that you agree with the terms.

Note: You should always read "small print" especially when it comes to operating systems and other software. Most programs, Windows 7 included, have legally binding limits on how many computers the application can be installed on, among other limitations.

Important: You are not breaking any laws or contracts by reinstalling Windows 7 via this clean install. As long as this particular copy of Windows 7 is only being operated on one computer, you're OK.

In the type of installation do you want? Window that appears next, you're offered the choice of Upgrade and Custom (advanced).

Click on the Custom (advanced) button.

Important: Even if you are upgrading from a previous operating system to Windows 7, I highly recommend that you do not follow the Upgrade installation. You'll get better performance with less chance of issues if you follow these clean install steps.

In this screen, you'll see each partition that Windows 7 recognizes.

The main difference in a Windows 7 clean install verses other kinds of Windows 7 installation methods is that a clean install involves the removal of all operating system related partitions.

Windows 7 setup considers partition management as an advanced task so you'll need to click the Drive options (advanced) link to make those options available.

In the next few steps you'll delete the partitions containing the operating system you're replacing with Windows 7, be it Windows Vista, Windows XP, a previous installation of Windows 7, etc.

Now that all available drive options are listed, you can delete any operating system related partitions from your existing hard drive(s).

Important: Before continuing, be aware that deleting a partition will permanently erase all data from that drive. By all data I mean the operating system installed, all programs, all data saved by those programs, all music, all video, all documents, etc. that might be on that particular drive.

Highlight the partition you want to delete and then click the Delete link.

Note: Your list of partitions may differ considerably from mine shown above. On my computer, I am performing a clean install of Windows 7 on a computer with a single 30GB hard drive that has previously had Windows 7 installed.

If you have multiple hard drives and/or multiple partitions on those drive(s), take great care in confirming that you're deleting the correct partition(s). Many people, for example, have second hard drives or partitions that act as backup drives. That's certainly not a drive you want to be deleting.

After deleting the partition, Windows 7 setup will prompt you to confirm the deletion.

The message says "The partition might contain recovery files, system files, or important software from your computer manufacturer. If you delete this partition, any data stored on it will be lost."

Click the OK button.

Important: As I spelled out in the last step, please be aware that all the data stored on that drive will be lost. If you have not backed up everything you want to keep, click Cancel, end the Windows 7 clean install process, restart your computer to boot back into whatever operating system you have installed, and backup everything you want to keep.

To be clear: This is the point of no return! There's no reason to be scared, I just want it to be very clear that you can't undo the deletion of the drive you selected after you click this OK button.

If there are any other partitions that need to be deleted, you can do so at this time.

For example, the Windows 7 installation I had on my PC previously created this special 100MB (very small) partition to store system data in. This is most definitely related to the operating system that I'm trying to completely remove from my computer so I'll delete this as well.

Highlight the partition and click the Delete link.

Note: As you can see, the partition we deleted in the last step is gone. It may appear like it's still there but if you look closely, you'll see that that same 29.9GB space is now described as Unallocated Space, not as a partition.

Just as in Step 12, Windows 7 setup will prompt you to confirm the deletion of this partition.

Click the OK button to confirm.

Important: Just as before, please be aware that all the data stored on this particular drive will be lost.

Installing windows 7 is not difficult at all if you follow the steps above