Business planning is an official declaration of a particular set of business goals and reasons why they are believed to be achievable. In addition, business plan outlines all possible means of achieving planned goals in order to succeed. It also contains background materials about the organization, team, and culture attempting to reach those goals.
Every business plan should be answering those questions:
What to achieve?
When to achieve it by?
Why to achieve it (what is the purpose)?
Where to operate or where to develop a market?
How to achieve all the above?
All those questions should help you to identify the main means of the business plan and why you should be working on achieving your targets. It is critical to develop all the answers at the early stage so that it is easier for you to follow the plan instead of creating it on the go.
Here are several main sections that should be included and developed in the business plan:
Products and Services
Goals should outline all possible and achievable targets that you set for yourself, for your team and for the organization overall. Do not make dreams out of goals! Goals should be reasonable and achievable. If you are a small business and have just started don’t set your goal to profiting $1 million in the first year, unless you have a brilliant idea and honestly feel that your business/start-up will achieve the target.
Classify business goals early in the development.
Set deadlines and time frame to complete them.
If you have employees, allocate duties for completing goals.
Always stay on top of what your competition does. Bring the best ideas into your house from everyone and make your own! Competition is a good thing as it makes you willing to move and achieve better and higher results. In addition it is very beneficial as it can get you many new ideas and thoughts for your business. Researching what the competition does is beneficial as you can predict what to expect in the near future.
Employees are very important! It is what runs the blood in your business. Selecting right employees will have a huge impact on your business.
Our business blog is keen to providing you with the best reading and learning experience. We do our best to provide you with the most useful and filtered information for you to spend less time on going through the material and more time on actually extracting all the needed information. We do understand that in the busy business life you don’t get much time to spend on information that does not bring any benefit. Therefore, every week we update on 5 Tips section to help you learn and develop your skills.
This week we’ve decided to spend some time on sharing some tips on online business and sales. Let’s start with 5 Tips for Powerful Online Business and Online Selling:
Introduce your business to the prospect or buyer. In order for someone to buy from you or do business with you they need some history. Provide them with several important tips about your achievements in the industry, years in business, products, your overall mission and vision. Many businesses suffer from not realizing that people need to know you before doing business with you. If the prospect does not know how long you’ve been selling online or doesn’t see obvious signs that you can be trusted most likely he won’t convert into a buyer.
Use social media! Social media becoming more important in the customer service and customer interaction than any other source; customers can contact you and have conversations with you at the time and location convenient for them. It is a very important channel of picking up new customers as well. A well deployed social media channel is very likely to bring you new customers and keep connected with old. The more friends and likes you have the more you can appear on the pages of your customers which in its turn will bring you more exposure. One thing to keep in mind is that all social channels have to be updated on a regular bases, you might not have time to update it every day but it has to show a sign that someone is taking care of the account and it’s posts not dated one month old.
Check on competition. It is your task to keep up with the competition and to scan through what they do. The suggestion is very simple learn of what they do and do it better! All developments can be enhanced and developed better than what is available now on the market.
Update your technology. Make sure that whatever you use is up to date and in a good condition. For example if you use software for your e-commerce make sure you bought all the necessary upgrades and licences, same goes with computers, servers and any other important tools for your business.
Deliver more! Your customers are important to you, therefore deliver more than you actually can. It is your responsibility to make every customer happy. Of course there are situations where it is not possible but still try to do your best not to do just a minimum job, do more and you’ll see the benefits.
We hope our tips on online business and online selling (e-commerce) helped you to increase your knowledge. If you have any questions or suggestions, please contact us or leave a comment.