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The Business Action Plan: 5 Critical Pieces That Must Be In Place Before You Start.

The Business Action Plan: 5 Critical Pieces That Must Be In Place Before You Start.

This has finally become the icebreaker period in your dealing as a female business owner and it about making decisions that will shape the long and short term of your business. It has become very essential to create actionable plans that will help your business edge towards attaining financial and territorial expansions.

Here are some critical elements to consider when creating that plan for your business:

  • EXECUTIVE SUMMARY:

 This is your first one-minute pitch of your in one read; this is expected to create the impression that would be formed about your brand and its product. At this point, keep the readers interested by giving insights into what the company is about and the solutions it offers on their needs.  This creates an avenue not only to learn about you but to anticipate your services and overall business strategy.

  • BUSINESS OVERVIEW:

This is another elevation speech, but, this time this makes clear the business objectives, mission, core values,  its product(s), and how they are directly or indirectly affected by the market system. This is the point where you define your target audience, who they are, where they are when they need your product/ service and the touchpoints to create around this. Carry out a SWOT analysis to analyze the environment, competitors, and your strength in the market that you play in.

  •  MARKETING STRATEGIES: 

At this point in your document, you have to be very analytical, because your plan has metamorphosed from just your business idea to the execution stage. How do you intend to reach the target audience you’ve identified. The analysis carried out earlier will be used to draft out a marketing plan that suits the idea. Determine the strategies that you would employ to control the market at the very best that you can in alignments with your strength, and available opportunities.

  • MODULE OF OPERATION:

 It is not enough to inform people about the objectives of your brand and the products that it offers, without telling potential investors and buyers the mode of operation that gets them the product, which they get to pay for or own as the case may be.  Thus, you are expected to let them in on the day-to-day running of the company, ideologies, and the organizational structure of the company. This gives a human angle to your plan.

  • FINANCIAL PLANS:

 Investors are interested in your figures, so it is important to avoid any form discrepancies in doing as it automatically counts as fraud. As a business owner, this is the point, where you state your year-on-year financial turnover, telling the profits and loss, cash forecast, sales implication, and capital requirements in alignment with which of the business’ goal you hope to fix within the given time.

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