How far ahead should you plan ?

Your business plan is simply a roadmap of the things you are going to undertake with your business or idea over the coming 36 months to improve your profits.

However, the next 12 months are absolutely crucial for your business success.

I place all emphasis on putting together a month by month plan for the next 12 months and quarterly plans for the subsequent 2 years. It is not worth doing anything longer than this and you should update your plan on a quarterly basis.

If you can not survive for the next year there is no point in looking further ahead so put most efforts into planning your business for the next 12 months.

This will ensure you are more focused and when you are putting your action plans together always think "Where do I want my business to be this time next year ?" - it will provide some perspective for you.

Need to write your business plan ? Click here to write a business plan today

MARKETING TIP - Only benefits sell

When you come to communicating your products and services to your potential customers, how do you describe them?

You know the customer type you wish to target but simply telling them that you have a great product at a great price will not be enough to make the sale.

You'll need to tell your customer what's in it for them

Describe what problem your product or service will solve for them. For example, don't just say "Our Bed and Breakfast is in glorious countryside" (although this is a good start) say that by spending a weekend at your B&B will "relax your mind and body with two wonderful days in sensational surroundings"

Doesn't that sound better? It clearly states a benefit (relax...) as it's targeted to stressful commuters who just want to get away from it all. For other target customer segments you may be targeted, you'll have a different message. But clearly state the problem you are solving with your product.

FREE PUBLICITY !

Do you have some tips and tricks you'd like to share with the newsletter subscribers?. If so, click here to drop me a line and I'll include the best over the coming weeks.

Not on the newsletter list yet? Sign up today

Sample Business Plans
Download a fully completed business plan for your industry online right now.
Includes narrative, financials and support