What is your business plan? Do you have one set? Are you in the process of doing one? Well we can tell this for a fact having one is important, and knowing what is, is even more important otherwise, how are you running your business? So let’s get to it.
WHAT IS A BUSINESS PLAN?
A business plan is basically a strategy to grow your business. It provides an answer to simple questions about a new business or a business already underway. That is which markets? When? How? Who? Where?
WHAT IS THE PURPOSE OF A BUSINESS PLAN?
It should serve as a business card for introducing the business to others: banks, investors, institutions, public bodies or any other agent involved when it comes time to seek cooperation or financial support.
WHY PREPARE A BUSINESS PLAN?
This is a good question, let’s take a look at why.
- Because it provides a global analysis of the business
- it forces us to analyze whether the business project is feasible or not
- it forces us to make a strategic reflection on the business
- it provides a global analysis of the business
- it forces us to analyze whether the business project is feasible or not
- it forces us to make a strategic reflection on the business
- it will help to manage the business
- it serves as business cards introducing the company.
MARKETING
THE MARKETING STRATEGY CIRCLE
The marketing strategy circle is compiled of 7 strategies thats is:
- Measure/optimize
- Tactical plan
- Channels
- Your choice
- Competitive landscape
- Target audiences
- Goals
Marketing plan System
There are 11 marketing system plans that you will need to go through when planning out your marketing strategy for your business, and that includes them below;
WHAT ARE YOUR BUSINESS AND MARKETING GOALS?
What are your business goals?
Have you ever thought about that? Your business goals?
Well your business goals can include; sales gorwth, market share, deals, deals size and etc.
What are your marketing goals?
Your marketing goals can be; leads, demos, prospects, engaged, media coverage, new channels and etc. Whatever goals you have in your mind for your business that you know can be of great help and can make your business boom go ahead and list them down on paper, having them listed mentally won’t make those come into reality and will just be floating in your mind casually waiting for them to happen then clearly they won’t. Always remember to list them down, be it on paper or digitally on your phone, computer, tablet, just do it!
And just know listing at least 3 of your biggest goals comes along way. It’s actually simple by just listing the activities your are going per take in and the objectives of what the activities will bring you together with the timeframe it will take you as well as what the plan is to achieve that activity you have to take in also the cost, what will it cost you, is it time? Money? What is it? just list them down and you will see the changes.
S.W.O.T. ANALYSIS
Have you heard of S.W.O.T analysis? It is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.
How do you conduct a SWOT analysis for your business? SOWT analysis consists of 4 strategies and that is;
- Strengths – What do you do well?
- Weakness – Where do you need to improve?
- Opportunities – what are your gross?
- ThreatsWhat are the obstacles you face?
An example of a swot analysis the one below on Apple.
With all these guidelines we have talked about, these will help you in your business planning and marketing and will give you some sort of idea on how you can go about it.