Importance of Business Planning For a Successful Business

Discussion in 'Starting a Business' started by Gerry Speck, Dec 11, 2015.

  1. Gerry Speck

    Gerry Speck
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    Planning is the most important step in the business set up. With proper business planning, the business maintains its progress more easily.

    Here are few important factors which are must in any business plan:


    1. Include overall service area of your business, current market status, and future .
    2. What kind of services you are providing, why you are providing ?
    3. What are your predicted customers?
    4. Your competitors
    5. Your product delivery strategy
    6. Different ways to raise a capital for your business.
     
  2. ihealthmantra

    ihealthmantra
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    The strategies one should adhere to for a successful business are listed below:
    1. Study the market and your competitors.
    2.Strategize your business and its promotion. As strategizing is the most important aspect prior to implementation. More accurate the strategy is, the more ROI you get. It's better to go for a business consultant for strategy planning and management.
    3.Once you've started, give some lime light to the marketing and advertizing part. The more you're visible, the more you sell. May it be online marketing or off line marketing. You have to be careful enough of what you project about your business.
    4.You must have heard of the famous saying "Employees comes first, not clients". If you're able to satisfy your employees then you're sure to get the perfect ROI.
    5. You can also opt for Digital Marketing and branding of your business along with Search Engine Optimization.
     
  3. Asher ross

    Asher ross
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    Planning is essential to achieve a set goal, with proper planning the implementation of things can be done in a better way. Before initiating a business, the proprietor must know what the business is about, the competitors for the business, the niche that the business belongs to, the current trends that are taking place, the target customers for the business, what are the targeted keywords that can be used etc.
     
  4. david14beck

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    Business planning is a important to achieve your goals and set your target. if you have proper knowledge of your service area like what are the risks, where to invest, where to not invest, business insurance etc. then you can probably plan your business goals. other factor is productivity if you take care of your employees probably they will take care of your business productivity.
     
  5. joy farnadis

    joy farnadis
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    Business planning is the most important concept. Without planning you are not able to do any further process. If you have any proper knowledge regarding your business risk profit advantages you can able to do it in proper manner.
     
  6. Maria97

    Maria97
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    The following represents top reasons needed for a business plan.
    1. A clear statement of your business mission.
    2. A description of the products and services you offer.
    3. Find out your competitors
    4. An analysis of your revenues, costs, and projected profits.
    5. Handbook for new employees describing who you are and what your company.
     
  7. FrancisClarke

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    • Promotional Links are not allowed in normal forum posts. This post has been edited to remove a promotional link.
    Business planning and strategies are very important for small business. You can also take help of business experts for planning and setting up a profitable and efficient business model. An experienced business analyst can be a great help for any small business.
     
    #7 FrancisClarke, Dec 30, 2015
    Last edited: Jan 16, 2016
  8. campbelljof

    campbelljof
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    Hi Gerry Speck, I totally agree with your all points. Its true, before starting any business it is important to have a better planing. If you’re planning to startup a new business, it’s essential to write a business plan that clearly sets your vision, goals, and purpose of your venture. And to write an effective business plan, you’ll need to determine the need for your service, target-market demographics, funding, marketing strategy, resources, business locations, and other key attributes.
     
  9. megainternationalbank

    megainternationalbank
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    Strategies for success are archives utilized for arranging out particular insights about your business. They can go in size from a straightforward few sentences to more than 100 pages with formal segments, a chapter by chapter guide and a cover sheet. As indicated by Entrepreneur Magazine, commonplace strategies for success normal 15 to 20 pages. Thorough strategies for success have three segments - business idea, commercial center and money related - and these are separated into seven segments that incorporate the review or outline of the arrangement, a portrayal of the business, market systems, rivalry investigation, configuration and improvement, operations and administration, and budgetary data. Indeed, even little one-page strategies for success have significance and reason for the achievement of the business in any case.
     
  10. MahaKarthi

    MahaKarthi
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    When you have an idea about starting a business you should have enough investment and also keep in mind the risk factor. This means that the plan and action for the sales should be achievable and not too high at the initial stage.
     

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