Planning Your Business, Officinado Business Help Directory
Planning Your Business
You should approach the completion of your business plan with confidence and
a positive attitude. Accept that your business plan will probably change dramatically
as you actually start working and be prepared to review it in 12 months time.
Many businesses will review there plan after 12 months trading and find that
whilst they have exceeded their financial targets revenue has been generated
from sources that were not listed on the initial business plan.
You should also be aware that if you have any form of collateral the bank manager
is probably going to lend you money regardless of how good he thinks the business
plan is. So it may be a good idea to create your own 'worst possible scenario'
plan, how many sales do you need to make to pay the bills?
Advertising
If you’re starting a very small business, visiting your potential customers
is a much better use of your time and money than advertising. Any form of advertising
only really works when people see your adverts regularly and this is very expensive.
Always ensure that you can track the performance of any advertising campaign
by offering discounts on presentation of the advertisement.
Always try to negotiate discounts when booking any kind of advertising, always
have copy ready and when someone calls to try and sell you some space (and they
will!) tell them to call back when they’ve got some space to fill and
they can give you a good price. You can sometimes save 75% on standard advertisement
rates by taking a last minute space.
Finding Premises
All businesses will have specific requirements when it comes to choosing premises
but here are a few points to consider.
Whatever business you start the need for 'operating' space is a key issue. Space
to work in ranges from a purpose built, fully functioning and well located premises,
to an office in your spare room. Most small businesses will start out in the
latter.
The rise of the Internet, and its lack of infrastructure requirements, has encouraged
a new generation to become business owners. Many small e-businesses operate
from a spare room and use a garage or garden shed as a warehouse. Remember if
you’re going to spend a lot of time online that you’re going to
need a fast Internet connection, and these are usually only available in built
up areas. Check with your ISP to see what connections are available before signing
the lease.
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Provides detailed and easy to understand business planning information that includes step by step instructions. Samples and outlines included.
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