STRATEGIC BUSINESS PLANS
A growing business means taking different decisions about the way you want your business operations; to be run it.
Why? You need to create a solid strategic plan which is the key component of planning for the growth.
Meanwhile, eight out of ten businesses fail- Which means only two out of ten succeeded?
What is a business plan?
It is a set of rules; idea; the option you need to make for your business to survive, grow, or/ and continuously have profits; gains.
A business plan according to some business experts is a set goal that is in three phases: a short-term; a mid-term or a long-term strategic formula.
All businesses are full of risks! How? Your decisions making are the determiners for business growth. Make decisions that are risk-free.
Why? What would make your decisions free or minimal from what we called risk? It is when you are often followed due process legally and proactively.
You must try to be studying rules, policies, and current standards of doing things in your place of work or what you have been doing presently. Things change with time.
When? Things can change within a minute, day, week, month, etc. Avoid short cuts. Carry other people along that you are closely working with.
Do not do some service alone but confirm others mutually. This is why the bankers hardly make mistakes accept order wise.
DON’T ASSUME THAT YOU KNOW IT ALL, YOU MUST DEPEND ON OTHERS
Don’t assume you know it all. You would be prone to risk and hazard if you do! You must be ensured you employed the right people; skilled workers; trained workers to do all your jobs.
Create a mutual environment for cooperation understanding among the workers, you must make sure you; they are in tune to achieve the same goal.
Also, make sure as you are growing they are equally benefiting, hence they take your business as theirs, knowing that if you make profits they would also grow as you are expanding.
HOW THE 3 MAJOR COMPONENTS OF SUCCESSFUL BUSINESS LOOKS AND IT COULD HELP YOU IN YOUR BUSINESS.
THEY ARE AS FOLLOWS:
- Develop an understanding of your customers’ values. So, try to know what products they want and make it available. When your customers patronage you, you will increase your profits.
- You should try to root out possible competitors in the market place. Check those that might be selling similar products or the same, which might successfully make you go out of your business.
- Work out the mathematics or the steps to survive and/ or overtake them in the next or closer time in a holistic manner to void trouble.
- A common proverb says, “All birds eat foods in the sky without fighting for it, and they would all ate and satisfied.” What you have for a day, week, month, and the year is already given to you by our God, our maker.
- Please, don’t be too fast; worried but follow it with care. You will still make it in His time.
- You need to read wide, listen to; view video, similar; same to the business at hand, do some researches and set up top-level objectives.
- By doing findings, through experts with analytical skills that had successful strategic planning to depend upon you.
- You will try to find creative thinkers and those experienced persons doing the same business with a solid grasp of operational details. This will help you to avoid some kind of risks before it happens.
- UPDATED: 17-11-2019