1. Create a vision. It's tempting to roll up your sleeves and plunge right into the details of your business: evaluating products, studying market segments, and sizing up your competition. Yet it's possible to get so caught up in the process of planning a business that you lose sight of what you're planning for.
Before you get lost in the details, take a step back. Outline a clear vision and a coherent set of values for your company. Develop a mission statement and use it to define short-term goals and priorities. Once you have a clear road map for your business, you can plan your journey with more confidence.
2. A budget isn't the same thing as a plan. You can't create a solid business plan without a budget and a financial forecast. But a budget should be the product of all the other elements in your plan. If you don't have a clear picture of your industry, customers, competitors, and market conditions before you develop a budget, your numbers aren't likely to reflect reality.
3. Don't ignore your customers. This may sound obvious, but too many entrepreneurs assume they know exactly what their customers need without bothering to ask. Take the time to learn about your customers, and build your business plan around their needs and desires.![[em19]](http://img.alibaba.com/images/eng/style/icon/emoticons_great.gif){kind=icon}
Related Comments
Re: 10 good Tips for Writing Your Business Plan
by ashish_sukhadia316 on 03 Jul 2008 10:48
Quoting from [terrabrazil]:
1. Create a vision. It's tempting to roll up your sleeves and plunge right into the details of your business: evaluating products, studying market segments, and sizing up your competition. Yet it's possible to get so caught up in the process of planning a business that you lose sight of what you're planning for.
Before you get lost in the details, take a step back. Outline a clear vision and a coherent set of values for your company. Develop a mission statement and use it to define short-term goals and priorities. Once you have a clear road map for your business, you can plan your journey with more confidence.
2. A budget isn't the same thing as a plan. You can't create a solid business plan without a budget and a financial forecast. But a budget should be the product of all the other elements in your plan. If you don't have a clear picture of your industry, customers, competitors, and market conditions before you develop a budget, your numbers aren't likely to reflect reality.
3. Don't ignore your customers. This may sound obvious, but too many entrepreneurs assume they know exactly what their customers need without bothering to ask. Take the time to learn about your customers, and build your business plan around their needs and desires.
Really good one...
more point to add:
Concentrate on your goals...keep in mind your upmost motives..
provide a fixed time frame to your plan....and implement accordingly.
Re: 10 good Tips for Writing Your Business Plan
by chengxinpacking on 14 Feb 2009 23:34
Quoting from [terrabrazil]:
We would refer to your article later
Re: 10 good Tips for Writing Your Business Plan
by duchess on 26 Feb 2009 08:17
doing business in africa is not the same as in every other part of the world.in nigeria for instance the business trrainis tough.sometimes you cannot succesfully make a forcast.i agree some business principles are constant everywhere but my advice is always pt your environment in view.
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