Busi­ness plans suc­cess?

Finweek English Edition - - MONEY -

Abusi­ness plan in it­self does not, and can­not, guar­an­tee suc­cess, but cou­pled with a rather large dose of dis­ci­pline can be ex­tremely use­ful in en­hanc­ing the chances of suc­cess. If tasked to walk around your own home at mid­night with­out turn­ing any lights on, you would no doubt be able to do so. You might bump your big toe or bruise your knee, but you should be able to com­plete the task. Us­ing a torch will cer­tainly al­low you to ma­noeu­vre faster and with­out hurt­ing your­self. Sim­i­larly, do­ing busi­ness with­out a writ­ten busi­ness plan is tan­ta­mount to op­er­at­ing in the dark – you could prob­a­bly stay in busi­ness but your chances of suc­cess would be greatly in­creased with a torch (busi­ness plan) in your hand.

Ev­ery busi­ness owner needs an ‘in­for­mal’ busi­ness plan to as­sist with main­tain­ing busi­ness fo­cus and to man­age the day-to-day op­er­a­tions of the busi­ness. This type of plan can be likened to an in­struc­tion man­ual to be re­ferred to when mak­ing busi­ness de­ci­sions that af­fect the sus­tain­abil­ity of the busi­ness.

It can also act as a form of san­ity check that con­tains so­lu­tions and strate­gies re­lat­ing to the fol­low­ing: SALES What are the sales tar­gets for the week and how are th­ese sales weigh­ing up against the tar­gets set to en­sure prof­itabil­ity? How will sales ac­tiv­i­ties be con­ducted, what sales­per­son is see­ing who, when and why? When and where will sales meet­ings be held? MAR­KET­ING What will be done to pro­mote the busi­ness and its of­fer­ing? Who will be do­ing what, when, where and how? Are th­ese strate­gies be­ing per­formed and ac­tiv­i­ties car­ried out by the peo­ple re­spon­si­ble in or­der to fa­cil­i­tate the sales process by en­sur­ing that clients and po­ten­tial clients are aware of the busi­ness of­fer­ing?

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