Business Plan
business plan
Why Do You Need a Business Plan?
Starting a new business is not an easy thing to do. It requires a lot of hard work, a good plan, and a little luck. Most people can handle the hard work part and you’ll either be lucky or not, it’s the planning part that most people have trouble with. Many people looking to go into business for themselves have no idea how to construct a good business plan. Luckily the internet provides a lot of resources to give you a hand. But some opportunities may cause you to forgo a business plan right away. In that case you may not have one yet or if you do it’s been collecting dust for the last year or more. Well it’s time to remedy the situation.
Your business plan is a plan for the future. It’s about both where your company currently is and where you want it to go. It will be used to convince others such as banks and potential investors about the strengths of your company and its ability to grow and thrive. Your business plan reflects how much you know about what you do. As well as your industry, and your competition and their products or services offered. And as the old military saying goes no plan survives contact with the enemy. Well neither will your business plan. You will need to update you business plan regularly to keep it relevant.
That’s one of the things that most people don’t realize. As time goes on situations will change. Your goals change, opportunities come and go, and the realities of your market change. Maybe you land a big customer that helps change your finances or an advertising campaign is more successful than you thought it would be or it could have been less successful. It is not to say that things will change dramatically in a short period of time but over months and years they can. Your business plan needs to reflect that and stay up to date with the current situation and your future plans.
Your business plan is a tool to be used to help you guide your business. It is something that you can refer to frequently to make sure you stay on track. A good business plan has the ability to communicate to others what you are trying to achieve. Especially when you are in the process of searching for money.
As a manager as well as the owner of the business it helps you evaluate the progress you’ve made based on the goals you’d set when you first wrote the plan. Your business plan will always be a work in progress. It will grow and evolve as you gain experience from running your business and dealing with the industry you’re in.
And finally it of course helps you plan out what you would like to see happen with the business. Hopefully it will help you identify potential problems to your growth. You should be able to identify other possible markets and customers you’d like to eventually pursue. And it should help you put forth your financial goals and projections. If nothing else it forces you to periodically take a hard realistic look at your business so you are prepared for the future. Having a well prepared business plan is never a wrong move.
About the Author
Cash Miller is an experienced entrepreneur and speaker who has spent over a decade as a small business owner. His years of experience in small business cover such topics as planning, management, marketing, human resources, ecommerce, and taxation. If you are looking for more information on this subject and others related to starting and running a small business you can visit his website at http://www.SmallBusinessDelivered.com
How do i write a business /marketing plan for a master distribution business?
I have been asked by a company who are looking for a master distributor to send a 3 year plan on how i plan to sell the products which are electronic gadgets and would be imported to the UK. I truly have very little experience in business but still determined to try.
The market demand is there but i don’t know where to start the business plan from. Plenty help needed and appreciated please. Many thanks!
Distribution in marketing is very important, without this how would the product ever make it to the end user? Just think of it in this sense. For Europe, distribution is much more complex then it is here in the states due to language barriers and the currency exchanges.
To begin with, they are going to want to know which countries you are planning on selling them in, within the European union only? Or throughout all of Europe? Once you have decided on the countries, you bring it down another level on location, do you want to sell them in every town? Or are you aiming for the big hustle and bustle cities like London, Dublin, Rome, Madrid, etc.
Once you know those specifics, they’re going to want to know what type of retail stores you are going to want to place their product, if in a retail store at all, do you plan on selling through a website? Forcygr retail shops, you want to think about convenience stores, specialty electronic shops that are their own stand alone buildings, or a chain retail store (from here you can also think of if you want to sell them in malls or shopping centers).
Still keeping along with me?
Once you have decided on which stores you want to sell it in, they are going to want to know where in the stores you want to place their product, by the doorway, on shelves, near which type of products, and then what shelf is also very important because each shelf level costs a different price.
Now the big part, which might be the main part you are looking for, once you have the product sold to the store you need to get it there! This is where you have to map out the process from the factories to the stores loading docks. Do you have to fly them over seas? Ship them by train? Drive them by delivery trucks? Which routes they’ll take, and so on, all again depending on where you choose the product is going.
If you follow this it should give you a pretty good idea on the distribution letter your looking for, good luck with the research and with the profession!
If you have any other questions feel free to drop me a line and ill do what I can to help you out!
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