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Creating A Business Plan

Nov 9, 2007
If you are thinking of starting your own business or already have, one of the best ways to protect yourself is to create a backup plan. Depending on what it is that you are marketing, you may have slow times of the year or you might just have slow sales for no reason. Either way, it is always good to have something to fall back on in case you are not meeting your financial goals.

Primarily, it is a good idea to have a second service or product to market during your off months. For example, if you are selling outdoor accessories or services, you may want to sell indoor accessories during the winter months. On the other hand, there are some products that are relevant year round, such as entertainment. In that case, you should try to market more than one type of entertainment, such as music and movies rather than just one or the other. Most importantly, never limit yourself to only one service or product until you know that you can survive on just that. Otherwise you may be setting yourself up for slow expansion and less than reliable income.

Secondly, if your sales are down because your marketing plan is not panning out, it is a good idea to have a secondary marketing plan. There are tons of ways to get the news out about your new businesses but it may take a few tries before you find the one that really sends you on your way. Thus, after you create a plan on how to market yourself, create a second plan that is completely different from your first plan just in case. However, if your primary plan shows some results but is not meeting your goal, you may want to recreate your marketing plan using the positive points from your primary plan. This way you will be utilizing the skills that you know work and integrating new venues for clientele growth.

Overall, the main purpose of a back up plan is to save you when things do not work out the way you planned. Your business plan may fall through in many different areas so it is important to have several different back ups for each scenario. Granted, your backup may not fit your actual situation exactly but often times having the idea down ahead of time can save you a lot of trouble when the time comes to try something new. Whether you need to add a few new products or just find a new way to get your products out, there are tons of different ways to accomplish your goals so do not limit yourself to just one plan from the very beginning. That could cause more trouble than anything else.
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Obinna Heche. Los Angeles - California

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