Posted in Business Planning
Know Business Planning
Planning a business is no easy task and running it might sound even more difficult but mind you, it wont if you have got your basics right! A business is made up of plans which the leaders implement and the organization is run, and a proper business plan would foresee a future for the company as well its employees consisting of different business strategies, goals and actions that needs to be taken. Having all the business strategic plans in place and good resource working for will ensure quick and steady growth and survival of the company. Today, there is so much competition outside and it nearly becomes very difficult sometimes to actually survive in the economy, so along with your company goals, the main thing you need to plan is for business survival plan, it may sound like a funny thing to do, but if taken seriously will be benefiting in the future of your organization. For some, business planning might be a much bigger concept and for some they may envelope it, in to a few fields or words but actually business planning consist of 2 large arenas, that include profit making business planning and contingency business planning.
Planning a business is not very difficult as some of you might be thinking, it needs a correct gesture in the right direction to be successful and even if you don’t succeed in your very first attempt there are always few chances more to succeed. We are well aware about the profit making business unit plan, in which we carry on with general business activities to earn profits and run it successfully, this type of business arrangements are normal, what we call as business plan. A business is a continuous process that is ever lasting and needs updates every once in a while, there are some things in your business which needs to be updated throughout its life cycle. The contingency business planning is also very popular by the name business continuity planning, this type of business unit mainly focuses on dealing with crisis type of situations that may arise suddenly, and this plan is executed when a business faces a severe crisis. The businesses that have this business plan ready in times of urgency, will never fail even during recessionary times or other such circumstances.
We often see big business organization, often having such plans ready if anything happens to go wrong with the organization, it’s a proper implementation of plan that will lessen the effect of crisis and save the business from dissolving. A business plan is a creative plan that can strike any one of us, even the dumbest of persons might be having a bright idea but we all fear its failure so we just blindly follow whatever has been told to us but when we think over it precisely it can give the superb solutions that you don’t need to wonder here and there, its right there in front of your eyes and it could be the best business model suiting your business type. Here are some of the tips that I so eagerly want to share with you that will help you write the best business plan based on your experiences and the attitude to carry on with your business:
- Write you plan with uttermost delicacy and of course for the right reasons, if you don’t have your base strong in to making a plan, it will never be executed or implemented and give you results. Decide first on the goals for your business, then you can design the plan well, whether it may be attracting your investors, venture capitalists, share holders, etc.
- You can also pitch about your company’s earlier achievement, that may give you support to your going to be executed plan and chances are the same investors might want to invest even more in the new plan. So there is nothing wrong in pitching about your company, its goals, its achievements and the business plan it comes with.
- Make a right mix of business ingredients that will map it in to a successful agreement, collect the material, the exact figures to convince your investors or dealers that will make your business plan rolling.
- Focus on the theory of management team because finally they are the one who are going to execute the plan and fill up the loop holes if any in your designed plan. Its very important to focus on the executive theory as that will help you duly to understand your plan better and you can even make the changes you want to.
- Keep your plan neat and clean, out of any clutter, your plan should be understandable and let your audience even reach out for more. By this, I don’t mean you get them lengthy pages which will just ensure your foolishness, make your paper ideas brief in short paragraphs with main points highlighted.
- Be deliberate in writing your thoughts, by this I mean, you should be aware of what you are writing by making sure you are writing what you want to see in your organization and not what is asked of you. Its very important to write your own ideas and thoughts rather than writing out of peer pressure or some type of compulsion because you will be the final person held responsible if anything goes wrong with the plan.
Business planning is not at all a bad idea, especially when it comes to the subject topics you are interested in to. No person is born without any inner business talent, it may come out in some or the other way so encourage everyone having an idea of a business plan to start designing and you might never know to see your company listed in Dow Jones!