How to be ahead of your competitors
It is very important to know the strengths and weaknesses of their rivals. In any competition, whether it is a marathon at the Olympics or a marketing company for your…

Continue reading →

Business Planning Tips
Business planning is an important factor for success in any endeavor. However, few small business owners are seriously worried about their business plan. Lack of understanding of the proper level…

Continue reading →

How to find the perfect place to put your business?
Properly chosen location for business is one of the essential components of its success and profitability. Therefore, when choosing a place for further business activities, a number of key factors…

Continue reading →

Business Planning Tips

Business planning is an important factor for success in any endeavor. However, few small business owners are seriously worried about their business plan. Lack of understanding of the proper level and type of planning is often the cause of an insufficiently developed business plan.

Business consultants, bankers, civil servants, professors of economic institutions – they all tend to paint business planning on 70-100 pages. Why only very few entrepreneurs find such an approach useful? A business plan has traditionally been a kind of tool for attracting cash infusions (as a rule, investments and shares). But such a scrupulous attitude to business planning requires a lot of time, which, unfortunately, is not for everyone.

It is best to write a kind of “Operation Guide” for your company. This guide describes in detail “what to do” and “how to do” in all areas of your business – marketing and sales, workflow, accounting, technical issues, and so on. It is easy to keep this “instruction” always in front of you on your laptop. And after all, for a small business owner, one page with monthly goals will bring much more efficiency than a 100-page business plan.

To increase the efficiency of business planning and increase utility, goals should be as simple as possible. For example, you can set a monthly sales plan, tasks for turnover or turnover of personnel, and other key aspects of your business. Being the owner of a small business means “acting at random” most of the time. However, you can be prepared for anything and control unpleasant surprises if you have a pocket plan at hand.

Periodically, you should analyze how your business works. Carefully review problem areas to be able to adjust the cost in time for the better or increase the speed of work. In particular, pay special attention to areas of high spending in your budget.

To save time, carefully study the cash flow for three to six months, pay attention to the trend of profit and loss. Looking at your semi-annual performance every month you will be able to identify significant changes in the categories of sales and expenses. Focus on overlapping negative spending trends with positive sales figures.

You will be able to sort out non-essential tasks, such as accounting, collection operations, payroll, independent contractors or suppliers, and other areas where you no longer need to check every detail.

Your company must be successful, and with proper business planning you will be very easy to make a profit and reach incredible heights in your business.

5 cheap ways to motivate employees
How do you inspire people to work without raising their salaries? It turns out that it is relatively simple, as soon as you understand how long the money works as…

...

What should be the office?
Many companies pay a lot of attention to improving the working conditions of employees, which is reflected in the search for new design solutions for office decoration. But before you…

...

6 ways to facilitate export
Believe it or not, but just a few tips will save even a small organization from headaches due to paperwork and complicated tax laws. 1. Behind each project - its…

...

The art of writing a business letter
The art of persuasion through ordinary writing is not available to everyone, but over time it is quite possible to acquire a similar skill. Writing convincing business letters is an…

...