Monday, June 19, 2017

The Key Steps To Starting And Writing A Marketing Business Plan

                                                             
a white woman who took a chalk and wrote business plan outline on the blackboard


In the past lesson, I shared with you about the title, “10 Excellent Tips On Starting A Business And Building A Successful Empire”. But today, I would like to share with you another lesson, “Starting a business plan”. If you want to start and run a business, you must learn how to write a business marketing plan because without starting a business plan, you can not make your way to business success. So in this lesson, you are going to learn from now:




                     · Why Business Marketing Plan Is Essential


                     · How to Build A Small Marketing Plan



                    Why Business Marketing Plan Is Essential


Any person who wants to travel in the unknown plan must have planned with map or directions and also money well. Even if he is told how much he travels and come back home, he must plan with more than he is told of the amount. He must plan everything well before he is ready for the un-forecast events on the journey. 

In the same thing, venturing a new business looks like treading an unfamiliar path. On the beginning of your journey, you find yourself strange in the place. You do not know where to go because you have never been there before.

Even if you know what you would like to do if you come across an opportunity, then achieving your business dream is a journey to the unknown place which can make you lose everything if you do not plan well. Many people know what they want to do achieve in business, but for putting it on paper, they find it difficult to task well.

According to Abbey, the own “Success Tips Plus” magazine publisher, “A business that is started with a written down plan is more likely to do better than one without a plan. Writing down a business plan makes it more real and achievable". Until you show them your well-written business plan, you can not walk into loan officers’ office, angel investors’ or venture capitalists’ house and ask them to invest in your new ideas.

Though, the reason most small and medium scale owners are not able to achieve their business or fail to get people to finance their project is because of their inability to sit and write a marketable business plan well. 

Let me tell you an example of a certain man who walked into an engineer’s office and he told him he needed money to start a business, but he was asked what type of amount he really needed and what type of business he wanted to venture. And he said any amount and if he saw money, then he would know what to do.

How mistaken he made! Money does not determine business, but business determines money according to Orji in the book I read. Engineer Orji told him of his quote. That man had no purpose or vision of what amount he wanted to borrow and what business he wanted to set up.

A business plan should have a vision or purpose of what it intends to achieve. Planning helps you to focus on and grow. Even if a bricklayer or brick worker knows how to build, he can not do anything even you order him with money without your survey or surveyor’s guide. 

He needs a good map or plan provided by you. He does not want to make mistake especial you provide him what type of building you want him to do. It seems with a business plan. A business requires your plan. Try to write a marketing business plan as much as possible. Let me access with another lesson here: How to Build A Small Marketing Plan. 


                           How To Build A Small Marketing Plan


Step 1: Identify Your Market: Your Customers

You need to know who your customers are and everything you need to know about them. 


Step 2: Identify Your Marketing Goals

What do you need to achieve in terms of number of sales, number of qualified leads, total revenue and profit in any given amount of time in order for your business to become profitable and to grow later.


Step 3: Define Your Marketing Strategies

You need to know where you want to go. Who do you want to cater for? Be it customers, retailers or wholesalers? How much do you want to start? What location do you want to operate? Etc.


Step 4: Develop A Plan Of Action

You need to know what type s of customers that you want to target. How much do you need to sell in a specified time? What type of product or service do you want to target? Etc. That is what you plan to achieve your aim. 

That is where many small and medium owners fail to follow these steps above. With strategic plan, your risk for business will be reduced and allow you more profitable. 


Conclusion

There are other essential components of a feasibility report or business plan outline in advance you need to know more about that I do not describe here in this lesson like 1.Executive Summary. 2. Business and Management. 3. Financial Forecasts. 4. Production or Service. 5. Markets and Competitors. 6. Business Strategies. 

It is only for big players. If you understand what those mean, you can go for it. I hope you benefit from this lesson, “Starting a business plan”, I taught you early above? Do you have any question or comment you want to tell me? Drop your comment here in this comment box. 

Thank you for time.


Happy view!
 


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