BidsByPros.com shares more on marketing tips
for small business owners
CC: image source is credit to valic.com
By: Don Zilleri
Business plan:
Business plan definition according to BusinessPlan.com:
“Set of documents prepared by a firm’s management to summarize its operational and financial objectives for the near future and to show how they will be achieved. It serves as a blueprint to guide the firm’s policies and strategies, and is continually modified as conditions change and new opportunities and/or threats emerge. When prepared for external audience (lenders, prospective investors) it details the past, present, and forecasted performance of the firm. And usually contains pro-forma balance sheet, income statement, and cash flow statement, to illustrate how the financing being sought will affect the firm’s financial position.”
When decide to have a start-up, business plan must be the first thing on the list for every entrepreneur. Business plan is the map of every business and is usually set for the next five years.
If business plan is done right, it determines and guarantee the future success of the business.
One of the best advantage to prepare a business plan is to understand the overall budget of running the business and to increase profit margin.
Every small business owner strives to keep up with advertisement expenses, to bring new customers and good profit. But one of the most highlighted imperative practice for a successful business is balance in every direction and consistency. To clarify, if the business owner allots most of his budget on marketing and advertisement and reduces its quality of service budget, the result is loss of new and existing clients. The same applies if the business owner does not dispense a budget for marketing.
Balance the budget assignment for strategies of marketing and operating plans.
Offer a consistent service!
A professional business start-up creates loyal clientele base by offering a consistent service. Consistency is the secret of success for every business in any size. The secret success of McDonalds was to alter the tradition for making burgers to a consistent way with offering precise taste and measure in every sauce and ingredient.
In marketing and strategies data analysis, consistency in a business is a genius method of advertising strategy. So, save on advertisement budget and attract more customers with keeping the standards consistent!
McDonalds example of consistency can work as a model for every small businesses. With limited budget to spend per week for marketing, do not scarifies and reduce the standard servicee for the sake of increasing that budget. Remember the balance and consistency.
In consistency of business service, even offering more then standard can scale the balance to hurt the business. Here is an example: I worked as a chef in a small and busy start-up restaurant. As a responsible manager, I aimed to keep the service quality consistent . One of my sue-chef was anxious to leave extreme impression on the new customers and when we weren’t busy, provided extravagance dishes outside the menu. As the restaurant got busier and busier, it was not easy for him to offer those extra services and he had to keep up with the standard service. Many customers started to expect the offered service as standard and in a middle of extreme rush in kitchen, placed orders for the same dishes. It was not easy and doable for the sue-chef so he denied their demand and those selected customers stopped coming back. This was an eye opener that even with going above the standard for customers, the level of expectancy rises.
Offer an above and beyond standard service when the enterprise is ready to raise the standard service bar.
Above example again can be a model to many decisions in small businesses. Keep it consistent and within the standard for a smooth path to success.
If you are a start-up and need a business plan, post your need for business planer professional in ww.BidsByPros.com.
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