How To Do A Business Plan

How To Do a Business Plan?

You would wonder how to do a business plan for your own business when this is your first attempt in Business Planning. The good news is that Business Planning is not a rocket science nor it is a complex process that may involve huge cost or time.What is needed is some understanding of what is a Business Plan and use your own knowledge to deal with each component of the business plan.

How to do a business plan based on your business objective?

It is easy say than done  that you may know your business objective. And most people I talked to told me they want to make money from their business as their business objective.  Seriously think about it, is it your business objective? or it is merely one of the consequence or result of you achieving your business objective?

What do I meant by that? Let say by pursuing your business objective ( put that aside what it is ), you ended up with broader customer base, build up your reputation as a company and credibility as a person. Due to these factors, your customer come back to you for more advice which turn into a sale or make repeated purchase of the product you promote. The return of the customer for additional service of purchased a product ended up with high revenue.

How to do a business plan – Start with you Business Objective

Yes, start with you business objective as a foundation in your business planning. Your objective should be a measurable and align to the Vision of your business. Some example of a Business Vision are as follows:-

1)  Reaching out to the community for my knowledge

Then your business objective is an articulated set of measurable that are align to this vision. Example: Enroll 100,000 subscribers to your newsletter by December 2011

You may notice that by the time you achieve your business objectives of 100,000 subscribers by December 2011, your would have a long list of potential customer who may read you periodic promotion in product or service which tune into revenue. A business objective help you to keep focus and hence all the key action you plan to carry out to get the 100,000 subscribers are therefore valuable contributor to your Vision.

View a video How to Create a Marketing Plan and see what you can learn about “How to do a business plan”.

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