5/25/2017

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Planning A Business
A Lack Of Net Profits
A Lack Of Startup Capital
Failure: Good/Bad?
Goal Setting
Keep Customers Happy
Know Your Market
Learn To Negotiate
Making Adjustments
Names And Symbols
Meet Your Goals
Plan Your Business
Self Discipline
Social Networking
Strategic Information
Stressed Out
Stop, Look, Listen
Things You Don't Say
Think Positive
Use Your Time Wisely
Work Your Plan
Write Down Goals
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Working Your Plan

Once you've developed a model for your business and written a workable plan, the next step is to bring your plans into focus and start working on them in a strategic, methodical process to make your business grow and become successful.

Working your plan should put you in a creative mode. You should explore all avenues that might work for your business, not just the obvious ones. It is a good idea to think outside the box but always keep in mind what you are trying to accomplish and try to stay focused on your goals.

A good, strategic plan of action is what makes successful businesses successful. It is what keeps them ahead of the competition, as well as in the hearts and minds of their customers and clients.

  • Try to learn everything about the business before you get started. Even if you have worked in that particular field for a long time, you may not know all there is to know about it such as how to get the needed financing, how to bid on contracts, how to get necessary supplies and materials, or how to get licensed and bonded.
  • Learn what branding means and how you can create a brand that draws attention to your business.
  • Advertise effectively and do what it takes to keep your business name visible to the public.
  • In your particular niche, learn what potential customers and clients want or need and how you can provide them with products and services that are better than those provided by your competition.
  • Study the competition. Don't be afraid or embarrassed to talk with competitors to learn what they are doing to win their market shares. You may be surprised to learn that some of them don't mind sharing ideas and information that might help you.
  • Join trade organizations and volunteer your time to worthy causes. Networking may be the best source of free advertisement you can get.
  • Learn to become self motivated and persistent.
  • Keep lines of communication open and return calls promptly.
  • Never dismiss the opinions of others before giving them some serious thought and consideration. Remember, you may be smart but you don't know everything. Someone else's ideas may be very helpful to your business if they are implemented.

A strategic business plan incorporates models for change if a change of direction becomes necessary. As a matter of fact, you should always be cognizant of changes in the marketplace.

Many companies fail because they don't incorporate a plan for change in their business model. They start making money and then lose sight of everything that is going on around them. By the time they realize that things have changed, it is to late to adjust.

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