Tips for effective business planning

by zarood

Posted: 8 years ago 9 replies

ECOMMERCE

Planning is very important for each task. So in business the weightage of business planning is important. So this tips can be very important for making your business with great 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, and visit your local SCORE office.

#business #effective #planning #tips

deepCode 8 years ago

2. is so true. If you do not stand behind your business 100%, you will have a hard time doing 3. and that will lead to fail somewhere down the road for sure!
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biheex

8 years ago

I'm searching and collecting informations from internet about buying from Alibaba (wholesale products) and selling them in retail in my country. I never done this before I have passion to become an importer/exporter in the future

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Importexport

8 years ago

Originally Posted by biheex

If you want to succeed as an importer, forget about buying wholesale and go to where the wholesalers buy before adding a big margin and then selling to you - the manufacturers. The difference in profit margins will amaze you.

If you want to buy from the manufacturers, don't go to Alibaba, because there you have countless traders masquerading as manufacturers.

You can learn a lot about the process of safe product sourcing and importing here: Ask Me Anything About Product Sourcing And Importing For Profit. ― Veteran Importer Here.

Walter Hay.

"If you think education is expensive - consider the cost of ignorance."

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TomWest

8 years ago

I totally agree with your post! If you have a passion for the business that you do, then you will have a desire to make it successful! You have to do some researches, explore a market, make a business plan! You have to be devoted to your business! Anyway, thank you for such useful tips! I hope that it would be really useful for many people!

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Oziboomer

8 years ago

Originally Posted by TomWest

If you have a passion for the business that you do, then you will have a desire to make it successful! You have to do some researches, explore a market, make a business plan! You have to be devoted to your business!

This is the sort of belief many people have when they are going into business.

Passion is important

Planning is important.

The most important thing however is to understand what drives business.

There an article here explaining what most new business people and even experienced business owners fail to understand.

If you want to take your business to the next level then you need to understand this.

Taking your business to the next level

Best regards,

Ozi

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TomWest

8 years ago

Originally Posted by Oziboomer

Hello, Ozi!
Thank you for your response!
I definetely agree with you!
I read your aricle and have learned a lot of useful information! Thank you!

[ 1 ] Thanks

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HayleyS

8 years ago

Hi! Thank you so much for sharing this list of such useful tips! I fully agree with you and I think that developing a good plan is a great way to overcome your shortcoming and increase your business's income, also it helps to prepare your business to be proactive in what the market does!

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Oziboomer

8 years ago

Originally Posted by HayleyS

I wrote a simple guide on improving business which looks at the fundamental issues.

Usually there are several things that plague business owners but for an overview of things that can be done pretty much straight away to have a positive benefit there is a way of leveraging your efforts.

It is not really for people who don't already have a business but would help people thinking of starting one to get off on the right mindset.

Usually what happens is people get going and then they discover there is an issue and because they haven't set up some basic systems they run into trouble.

It is more complex than what is in the guide but that is the starting point to understand what really changes results.

Anyway you can read "Three Instant Management Tips for Business" here:
Three Tips Book

Best regards,

Ozi