If you're thinking of starting a business or have been in business for some time, in this day and age it is very important to work smarter and not harder. Having a marketing plan and a business plan in place, helps you achieve this.
A business and marketing plan allows you to set realistic goals and plan how you are going to reach them. Let Select Marketing and Web Solutions make sure your business is future-oriented and that you are motivated to achieve the results you want. Leave all the planning up to us...
The right planning can increase your awareness of your market, help you to understand your financial needs and make sure you stay competitive while building your skills and resources. By allowing us to write your business and marketing plan we will help you to understand the factors that can affect the success or failure of your business. We will also be able to help you identify and exploit opportunities that will improve your chances for expansion into new areas and give you a possible advantage over your competitors.
1. The Idea
2. The Entrepreneurs
3. Business Objectives
There are many types of business plans and can also be referred to as strategic plans, investment plans, expansion plans, operational plans, annual plans, internal plans, growth plans, product plans, and feasibility plans.
In all these different varieties of business plans, the one to use will match your specific situation. For example, if you want a plan developed for internal use only, not for sending out to banks or investors, then we may not need to include all the background details that you already know. Description of the management team is very important for investors, while financial history is most important for banks.
The most common business plan is a start-up plan
The Start-Up business plan defines the steps for a new business. It covers standard topics including the company, product or service, market, forecasts, strategy, implementation milestones, management team, and financial analysis. The financial analysis includes projected sales, profit and loss, balance sheet, cash flow, and probably a few other tables. The plan starts with an executive summary and ends with appendices showing monthly projections for the first year.
A sound marketing plan is key to the success of your business. It should include your market research, your location, the customer group you have targeted, your competition, positioning, the product or service you are selling, pricing, advertising, and promotion.
Analysis of your current market Your business objectives Key strategies Steps to achieving your objectives Proposed budget Timing
Before you spend any money on business marketing, you’ll need to have a clear goal in mind. It may be tempting to spend a few dollars here and there for pay for click advertising, social media advertising and email marketing, but without a clear plan, your marketing probably won’t go to plan.
Business plans don’t need to be overly complicated, they just need to detail your goals and come up with realistic ways of achieving them. For example, do you want to reach a wider audience, or do you want to keep your loyal customers coming back?
Having a plan helps you to prioritise, gives you direction, helps to define your objectives and provides a road map to achieving your goals.
You'll have a better understanding of your competition.
Have a better understanding of your customers. An in-depth customer analysis is essential in any business plan for it to be effective.
Having a plan will help you position your brand.
It will also help you determine your financial needs, as well as help, attract investors.
An effective plan will help you uncover new opportunities.
There are many reasons why you need a business and marketing plan when starting a business or even if you've been in business for a number of years. Having a clear direction will always help your business to grow in an ever changing market place.