Everyone wants a successful
business that can grow in volume and value but not everyone has the answer to
what makes businesses succeed. It is therefore essential to ensure that the
right factors are considered and put to use at every stage of the business.
What problem do you
want to solve with your initiatives? Who are your target market?
The first step begins
with conceptualization as a problem solving. Do you want to solve a problem in
real estate, unemployment, e-commerce sector, pet’s arts, transportation,
distribution of consumables, food and beverages, agriculture etc. Whatever the idea
you have got, this must be well articulated in a business plan.
Business plan is the
architecture and foundation for your concept. It is the framework you need to
properly align the objectives to the end result. It is imperative to note that
competition also exist and as a matter of fact, this is the number one
consideration which will help you to position your business properly. Bearing
in mind, that your business plan must be specific, measurable, achievable,
relevant, and time-based goals which is a key factor used by businesses to go
beyond the realm of fuzzy goal-setting into an actionable plan for results.
Essentially, what are
the factors required to kick-start a business plan;
1.
Choose
a Niche: Choosing a Niche is a very important step in getting your business
started. Your objective will guide the type of Niche you want to operate in.
Like I said earlier, this will help create and properly align with your target
market. I created a website for classified ads and named it https://marketislife.com/ for visitors and
users to promote their products and services for FREE.
2.
Research:
It is important that you research the Niche you want to launch and operate in. Researching
to have to the right business perceptive, learn how these business niche started,
their strategies over time and highlights for your business plan. Taking this
step can also provide in-depth knowledge of the challenges and successes of
your niche.
3.
Create a profile for
your company: You need a clearly stated profile for your company. Most company profile
resides on the website which tells visitors and users what you are doing. Most
of the time, the company’s profile is seen under “About Us” so when your
website is visited, people can navigate. When I started out with my website, I created
https://marketislife.com/about-us
to help users’ understand what we do.
Document your strategy:
There is a need to put all your strategy together. It is not out of place to do
this after all said and done. How do you want to launch into the market? Will
you require partners in the area of technology, finances, marketing and sales?
Does your niche involve sales and distribution so you know how the logistic has
to be? In all, you have to write all these, vet it and seek advice from trusted
associates on your objectives. However, be careful with whom you share your
thoughts with.
Watch out for the next edition…………….
