Thursday

5 Tips for Effective Business Planning

  • Clearly define your business idea and be able to succinctly articulate it. Know your mission.
  • Examine your motives. Make sure that you have a passion for owning a business and for this particular business.
  • Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
  • Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.
  • Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions.

No comments:

Post a Comment