To run a business, you need to create a business
plan, first of all, organize ideas, goals and values. After all, identifying
these criteria is essential to obtain good results in business management,
regardless of the size and type of your enterprise.
Producing a successful business plan is what every
entrepreneur must do in order to achieve their goals. Today's article explains
how this concept works and also shows 8 key elements for its realization.
Follow up!
What is a
successful business plan?
Also known as a Business Plan, a business plan is a
document created to describe the objectives of a business management. It also
contains the activities to be carried out to achieve those purposes.
This document must be created before your business
starts. In this way, it is possible to guide the development of your company
and, consequently, of your business plan based on the values, criteria and
culture stipulated by your management.
Creating an efficient business plan is crucial for
the development of any type of enterprise: with it, it will be possible to
control and reduce the risks and uncertainties existing in its management.
In some cases, at the end of carrying out a
business plan, it is discovered that such a project is unfeasible and that it
does not match the economic reality of your company. In this situation, it is
very important to make the necessary adaptations, or even opt for another type
of investment that will bring better numbers to your business.
So pay attention and always keep your business plan
in line with the changes your company undergoes.
What to
include in a business plan?
A business plan is nothing more than an instruction
manual designed to achieve positive results in a venture.
Below are 8 key elements that every business plan
should have:
1. Goals
Every company has objectives and goals that it
wants to achieve in a certain period of time. Reducing expenses, increasing
profits, hiring new employees, reducing the number of work accidents and
countless other goals can be used to define where your management wants to go.
Use this trick to motivate your employees. Show
that everyone has the ability to help grow the enterprise they work for.
A successful business plan is based on objectives
and goals that match the reality of your company. There is no point in creating
a challenge that few can overcome, so stipulate values that are within
everyone's reach.
2. Knowledge
Knowledge is essential in all activities we carry
out in our lives. To make a business more profitable, you also need to be wise
in carrying out a business plan.
First, get to know your company. Put first the
values and culture that govern your business structure. From that moment,
make the decisions that best fit these criteria.
Find out what the financial needs are for carrying out your project and set a
ceiling for investments. Never try to do something that does not fit within
your financial budget, this can put all sectors of your company at risk.
Understand and understand the socioeconomic reality
in which your enterprise finds itself. Find out what your customers' needs and
requirements are and make sure that this demand is met by the services provided
by your company.
Pay attention to the way business processes happen
in your work environment. Also don't forget to keep up to date with regulatory
standards.
3. Planning
The financial market is unstable and seasonal, and
a successful business plan is one prepared to anticipate and overcome such
problems. For this to occur, it is necessary to assess how well your business
structure works.
Imagine scenarios in which your company comfortably
adapts to the market and situations that are unfavorable to growth. Define what
actions will be taken in each case and ensure that your venture is not harmed
by being caught by surprise by some event.
4.
Technology
Technology is a strong ally in business management.
All processes, no matter how simple, benefit from the use of some technological
advance. A successful business plan must always use the most innovative
technological tools in the job market to its advantage.
5.
Communication
Dialogue is an important tool for the proper
functioning of human relationships. A company houses different types of
employees with the most diverse opinions and origins. In order for everyone to
understand each other, there must be an environment that favors this exchange
of information.
A business plan must value the good coexistence
between the employees of a company. It's impossible to create a perfect
situation where all parties are completely satisfied, so allow your employees
the freedom to express themselves.
Receive criticism and praise in order to understand
what is happening in your company. Use them to improve your management,
avoiding repeating mistakes made in the past.
It is also worth remembering that, so that everyone
can clearly understand how your company's business plan works, it must be
developed in clear, direct and accessible language.
6. Marketing
actions and sales strategies
Marketing actions are crucial for your product to
be known and publicized in the consumer market. A business plan defines what
tactics will be carried out by the marketing department of a company.
Define your target audience and find the best ways
to get in touch with them. Take advantage of the rise of social media and make
your company enter the virtual world to consolidate itself more and more in the
market.
7. Risk
analysis
Risk analysis is a fundamental element of a
successful business plan, since, despite planning and trying to imagine all the
situations that can happen to your company, unforeseen events and incidents can
still occur.
A resource used for this analysis is the SWOT
matrix — also known as SWOT analysis or Strengths, Weaknesses , Opportunities
and Threats: Strengths, Weaknesses, Opportunities and Threats.
Thanks to its use, it is possible to identify the
strengths and weaknesses of your company. See below how each step of this
analysis works:
·Strengths : checks the positive factors of your
product in relation to others offered on the market;
·Weaknesses/Weaknesses : here the points that need
to be improved are identified;
·Opportunities/Opportunities: identifies the
external aspects that favor the growth of your company.
·Threats/Threats: seeks to know the negative
factors that threaten the development of your product.
The SWOT matrix is just one of several existing
solutions to avoid errors in its management. Be sure to patiently and calmly
analyze each situation in your company and develop a good business plan by John
Labunski.
8. Analysis
of results
As the processes take place, the results obtained
need to be analysed. If these do not meet what was previously established, it
is up to the entrepreneur to review their concepts. Also remember to improve
what is working to always improve your business management.
A business plan is not a document that should be
untouchable and that cannot change over time, so always keep it up to date.
So, do you understand what it takes to create a
successful business plan? Do you have any questions or do you know of another
element that we have not mentioned here? Tell us in the comments!
Do you want to enjoy retirement more and better?
It's time to plan! we give you a series of practical tips so you can prepare
for your retirement.
Planning for retirement
can seem like a tedious and complicated process, but if you prepare in advance,
you can enjoy this long-awaited moment much more.
Here are some very simple tips to plan. Take
note!
Think about
your retired life
What do you want to do? How do you want to live?
These are simple but very important questions that you should ask yourself,
because depending on the answer you will have to plan one way or another.
Wanting to live in a new house on the beach as a retiree is not the same as
continuing to live in your usual home.
Estimate
your pension
You must have a rough estimate of the amount of
your future pension to start planning. Thus, you will know the savings
necessary to complement your pension and maintain the standard of living you
want.
Know the requirements to retire
Even if there is a lack of time, it is good that
you know all the requirements to retire in United State. The minimum age, the
contribution period, affiliation to Social Security, etc.
Start saving
as soon as possible
If you want to reach your goal in the future, it is
best to start saving now. The most powerful tool you can count on to plan for
your retirement is your own savings.
Don't touch your savings until retirement
After a lot of time and effort saving, you do not
make the mistake of using the accumulated savings to fulfill other wishes or
goals.
If you need additional income to that of public
State pensions, take out an Individual Systematic Savings Plan or our Life Retirement
Planning with John Labunski.
