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Planning For Business101
by Belver Ladson
PLANNING YOUR BUSINESS
Planning is a part of your business you should never overlook. It might seem a bit boring and you may be in a rush. Whether you’re starting or moving on in your business, planning is a major task you should ALWAYS try to do. Business planning helps you set goals that can motivate you to achieve more. Planning also helps you set your business strategy and assists in deciding where you want to go with your products and services. Another thing planning does is keep you consistent. It can show you when you may be going off course (business-wise) so you can make any necessary changes that need to be made. Since there are so many types of business plans that can be made, you should be able to find one that fits your needs.
PLANNING HELPS YOU SET GOALS
Setting goals for your business should be a mandatory part of your daily business life. A business with goals is a business that will always motivate you to do better because you’re working toward a planned event (your success). Having goals will help your business grow at a steady pace too. Don’t leave the success of your business to unknown factors that may or may not happen. Plan the growth of your business. What will you do to make your business grow? How will you do it? Do you need any more supplies? Do you need more knowledge and skills? Where do you want your business to be this time next year? These are all questions that go into setting goals for your business growth and prosperity.
PLANNING HELPS YOU SET A STRATEGY
The strategic part of planning can be fun. Positioning yourself in the business world is sometimes like a chess game. You move your business to the proper position and then try to grab customers from the competition. Part of choosing a strategy should include answering these four questions:
- What do you want your business to say about you personally? (what is your business persona?)
- What do you want your business to do for your customers? (give them a much needed product, make their life easier, help them earn money, etc…)
- What do you want your business to do for you and your family? (bring in more income, make life easier, etc…)
- How will I position my business/products to make this all happen? (i.e. open a website , make business cards, advertise online, advertise in newspapers, etc…)
PLANNING HELPS YOU STAY CONSISTENT
Planning can help you stay consistent with your business and it will let you know when you are going off course. Keeping your business on course is another key to success. You need to be consistent with your business style, goals and themes. If your business is known for being elegant and polished and you start using inferior products, that inconsistency can lead to a loss of customers and change your business identity in a negative way. Often, going off course with your business plans can seem like a small problem. A subtle change here and there might not be considered a horrible thing, but a few weeks later when your sales drop and/or you get negative feedback, the cost of going off course can become financially devastating. Refer to your plan from time to time to compare where you are business-wise, to where you planned to be. Be aware of any deviations you’ve made in your plan and work on correcting them.
KEEP YOUR PLAN AS SIMPLE AS POSSIBLE
A business plan can be as simple as jotting down your ideas on a scrap piece of paper or you can take longer to make your plan more detailed. It’s up to you. Make your plan fit your business goals, needs and desires. You can include financial plans (how much does your product cost to make/buy, how much do you want to earn, etc…), marketing plans (how will you advertise your products/services), shipping plans (how to deliver your merchandise) and any other plans you need to make. Just be sure to make a plan….it CAN make a difference.
Any questions or comments can be sent to: SistahHelp@aol.com
By Belver Ladson of Belver Bears
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