Sunday 2 July 2017
Building a successful business is everyone's dream. Who doesn't want their business become big and success? Dreaming of being able to be a person that begins with nothing and become a successful person who has achievements to be proud of.
More and more stories of successful people makes us want to be able to follow their footsteps. Until finally we start trying to build our own business.
At first, it all looks fine, because building is a process that can be said very easy, but how we manage it or can we manage it is a different story.
That's why business planning is so important. Because when we build a business, we must have a clear vision and target. And the best way to do that is through business planning.
- Knowing your business needs
Articulating and defining business needs is an activity called corporate analysis that includes the identification and understanding of business objectives.
- Describe clearly how to meet your business needs
In the stage you recognize your business needs, you will also find major problems related to success, challenges, risks or business problems. Discover and find the right solution to those problems.
- Know how unique your business is.
Every business has its own uniqueness. Discover, emphasize and develop your own uniqueness in so it can be use as an advantage for your business.
- Know your team
Who is in your team? What is their role in your business? Know and understand the tasks and roles of every team in your business
- Know your market
Analyze the market conditions of your business, how much and how quick the market is growing and how much potential profit can be gained.
- Know who made your target market
Make sure your marketing strategy is targeted to your target market, otherwise you will waste time, effort and money.
- Design an ideal promotional strategy
Determine how you can reach the market. Gather the data that can help you in making this strategy. For this step, u might need some tools or business intelligence that can help you gather every data from your business like Acumatica Cloud ERP
- Separating income streams
Real income predictions can actually hurt the plan you have created because it often does not meet expectations. But knowing what makes your income is very important.
- How much budget is needed
Determine the budget your business needs to run well and make sure it can be owned.
- Plan for break events
Revenue is very difficult to predict. But by creating several different scenarios and assigning the sales needed to pay for your expenses and then make a profit.
