Articles

5 Tips for Effective Business Planning

by Muhammad Afiq

5 Tips for Effective Business Planning

  1. Clearly define your business idea and be able to succinctly articulate it. Know your mission.

  2. Examine your motives. Make sure that you have a passion for owning a business and for this particular business.

  3. Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.

  4. Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.

  5. Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local SCORE office.

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About Muhammad Afiq Innovator     

29 connections, 0 recommendations, 61 honor points.
Joined APSense since, March 19th, 2008, From Kuala Lumpur, Malaysia.

Created on Mar 24th 2008 06:44. Viewed 257 times.

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