Tuesday 19 May 2015

You need a good business plan for your business



Before you embark on a journey, you are expected to have a map, someone or something or a compass that will give you directions as to where you are going till you get there.
In the light of this, having a business plan gives more than just directions but also determines how successful you will be in business.
A business plan will help you do the following with regards to your business;
  It will help you to stay focused in your business.
  It will help you to properly understand the type of market you are in.
  It will help you in knowing the particular strategy to use in the market to be able to sell.
  It will help you to understand your target customers.
  It will help in reducing all forms of distraction as it will act as a roadmap for the business.
  It will help you in knowing if you are doing well in your business.
  It will help you to track your level of success in your business when you start.
  It will give an overall estimate on how much will be spent on the business.
  It will give an idea of the strategies to be used in the business.
  It will help you understand what you need to put in place for the business to be successful.
  It will help you to be able to properly understand your business.
  It will give you an insight to the route to market for your business.
  It will help you to guarantee success in your business.
  It will help you know how much you will need to start and fund your business.
  It will help you have a projection on how much profit you will be able to make you’re your business over a period of time.
  It will give you an idea about all the types of marketing you will use in your business.
  It will help you to manage all your resources for your business properly.
  It will give you a sense of direction with regards to your business.
  It will help you to be able to know your competitors, their strengths, weaknesses and what they actually have and what they don’t have.
  It will help you to know those things you have that will give you an edge over your competitors in the market.
  It will help you understand and know how to run your business effectively.

             Please add your comments , thank you.





Share/Bookmark

1 comment: