Successful Home-Based Business Owners Develop a Marketing Plan

I’m always surprised by the people that fail to work with a business or marketing plan. The idea seems to be intimidating to many otherwise fearless entrepreneurs. The plan doesn’t have to be a long drawn-out process to be effective. You can take a few minutes and sketch out something quickly that helps you to formalize your goals, establish a budget and evaluate your expected returns on investment.

It will also serve as a roadmap to help you maintain consistent sales throughout the year. Savvy marketers often develop the entire project around a sales and marketing proposal in order to bring in joint venture partners.

There are many ways to develop a marketing plan. The approach taken here is a simple six step process. If you are really creative you can accomplish all six steps on the back of a napkin.

  1. State your purpose – Dr. Stephen R. Covey is famous for coining the phrase; “Begin with the and in mind.” This simply means to have an idea of what your results should look like before you begin your journey.
  2. Quantify the result – if you are selling glass figurines online, you should know how many units you’ll need to sell in order to make the kind of income that will make the project worthwhile. You must identify what success looks like even before you begin.
  3. Situational Analysis – this simply means you are acknowledging where you are in the process at the moment. You will also want to look back in the past to evaluate the decisions and actions that lead you to the present situation.
  4. Marketing Focus – take a close look at consumers to whom you wish to sell your services or products. Get a clear understanding of your ideal prospect; get to know and relate to the problems they face and recognize how your solutions can benefit them.
  5. Tactical – now we brainstorm to find the various methods to get our message to its intended target. Don’t be afraid to get wild, crazy and creative during brainstorming. There are often a few really good ideas hidden among the off-the-wall stuff. Write them all down and review them later.
  6. Budgets Analysis and Performance Milestones – I saved the bean counting for last because it is usually the part that entrepreneurs don’t like to do. Once you have roughed out your marketing plan of attack, you will want to create a budget for which to work your plan. You will also need to set realistic milestones to monitor your progress along the way.

In the end, a marketing plan is just a road map for your objectives. You can create a formal marketing plan with spreadsheets, graphs and even PowerPoint presentations. You might simply look at your worn out napkin one or twice a year. Whichever technique you choose will be perfect as long as you get it done. When it comes to marketing your business, you need to know where you’re going so that you know when you’ve arrived.

Entrepreneur Small Business Idea – Develop a Management Consulting Firm

This article will show you how you can start your own management consulting firm as an entrepreneur. Management consulting is a growing field, where you come in to a business with outside experience as a manager, survey the business and provide recommendations as to how the business needs to change its management structure. Read on to find out how you can start your own management consultancy.

If you have previous management experience, or you are a very avid student of management, this may be the right business for you to start. There are many businesses out there with fairly “green” managers that have come up through the ranks, but don’t have any formal training.

An organization is at the mercy of its management. If the managers are weak, lack in motivating or empowering employees, or they don’t understand the vision of the company, that organization may be in serious trouble.

As a management consultant, you will perform evaluations, observations of employees, look at overall structures of management, and finally give recommendations in multiple areas that require change.

You may need to tape record interviews with employees so that you can take notes later, and you will need enough management experience of some kind under your belt so that you can provide sound advice.

To get this business started you will need a computer, telephone, basic contracts and non-disclosure agreements. It is recommended that you start locally near your home, but ultimately this will be a business requires extensive travel as you visit businesses all over the world that need advice. As you get more clients you can expand your business to include multiple auditors that provide a company-branded report back to the client.

Business Plan: Online Business

The evolution of Internet has produced tremendous opportunities to the people across the world and it had impacted the life of human kind in some way or the other. This has made online business the most popular business venture of today. Online business is similar to any other conventional forms of business, except that it is being done through internet. It’s also essential to make your Business on this kind of industry. We have come up of a list that can help you get started on your Business plan.

In creating a business plan for your online business the first logical step that you need to take is your business plan should have complete information on the implementation of your business idea. It should clearly indicate the details of who will be your target audience. You must work out exactly who you’re going to market to. You can target as large or small audience as you like, it all depends on you.

Second is how will you reach your audience. In today’s trend social media is the most easiest and convenient way to reach your audience. Social media such as Facebook, Twitter or Google+ are the most popular social medium you can use. If you own a website, you can do article writing, blogging, SEO, pay-per click or solo ads. This is what you called Traffic. Once the traffic increases to the website developed and designed, we could make the customers buy the product or service marketed by the website. Online Business is different from the conventional business only in the case of Business Platform, or otherwise all the principles for successful business like customer relationship management, customer delight, value for money, quality, and good after sales service support etc. are important in online business venture. But it is for sure that Internet is not the market place, where one can make quick money and the success of online business venture will greatly depend on the patience and ability to understand and capitalize on the large opportunity available in the ever-changing internet environment.

Finally, your business plan should also have your Budget or financials; even though you are running an online business it is also important to include your budget. You don’t need a fancy spreadsheet or pro forma financials but you do need to know how much money and for how long you will need to support your online business until it supports itself and you.

Unlike the conventional business, the business idea is the important aspect of online business and it acts as the focal point. All other aspects and processes of online business revolve around this idea. Once the business idea is generated, a strong Business Plan is to be prepared based on the business idea. The business idea can be anything like extending the conventional business to the online business mode, or to buy or sell any new product or service, or to become an advertising platform or to become a link in the distribution chain like a reseller etc. Every business starts with a strong business plan – it is the foundation and the building block of every company. A good business plan will not only be the blueprint of your business, it will also provide you with a good entry into many doors, including the door of investors and financial institutions. The due diligence of starting a company can be overwhelming.

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