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Breaking Business Plans Down to Smaller Steps
Most of us know what a business plan is. We know that it
includes product information, marketing strategies, financing,
facilities and a customer profile. Yet how many of us know that
the comprehensive report is just a piece of paper without the
commitment of the owner? That's right it is "garbage" without
strong psychological traits that help to adhere to the plan. A
business plan changes depending on the personality strengths of
the owner.
Within the business plan it is beneficial to map out the
financial budget for a certain length of time. In most
businesses this plan includes all major expenses for the year.
Adhering to a year plan may be difficult because they are not
able to do that in their personal lives. For example, if one has
a hard time saving 10% of their income how are they going to
adhere to a budget that requires them to put money away for
future development in their small business. The plan may include
a year improvement plan but should be broken down into monthly
or weekly goals so that the owner can follow it closely. Let's
say an owner wants to build additional fresh fruit space and it
is going to cost him/her about 8,000 dollars. The owner hasn't
been able to put this money away for the past couple of years
due to inability to stay committed. Then have them take $200 out
of their earnings each week by writing a check and placing it in
a box. At the end of the year they can count up the
checks, rip
them up and write one big one for their expansion project.
The same applies to marketing. If an owner wants to market to
everyone in his neighborhood who has children it doesn't make
sense to just state this fact and then not break it down into
steps. For a small owner it may appear as though the task is too
big him/her to handle. Break it down so that this month they
will purchase the demographics list of homeowners with children,
then the next week develop the sales letter, the third week turn
it into the printer, so on and so forth.
By breaking down larger business plans into small steps small
managers are more able to keep focus on building and developing
their long-term goals. Both the yearly and the monthly/weekly
goals complement each other. The overall business plan acts as
the ultimate improvement while the monthly/weekly goals acts
like the road map. It is important to remember that the ultimate
achievement of goals depends on the actually personality and
traits of the owner. Writing out strategies that don't follow
the normal way they work and look at life is likely to be
unfulfilled.
About the author:
Murad Ali is a two time published author on social, economic and
political reform. He is a doctoral student, a human resource
executive, a business owner and a newspaper editor. For more
articles written by Murad please visit
http://www.muradenterprises.org
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