By June 19, 2012 Read More →

4 Crucial Points Your Business Plan Must Include

Read These Essential Points For ANY Business Plan

 

1. Sales Funnel

2. Social Marketing Plan

3. USP (Unique Selling Point)

4. Cash Flow Forecast

1. Sales Funnel

All too often, I have coached people who come to me with an amazing product or service, something they really can deliver, and they are so caught up in their planning efforts that they overlook their sales funnel. Creating a Sales funnel is a step by step process, where you ‘imagine’ your customers journey from any marketing point to your checkout procedure. Make sure you know exactly where your customer will enter the funnel and how they will get to making a purchase. Plan it, modify and tweak it, simplify and enhance it. Your entire business will depend on it.

2. Social Marketing Plan

Social Marketing is here to stay. No matter how much we ‘don’t do Facebook’ or we ‘can’t stand tweeting’ businesses that aren’t moving forward with a social strategy are leaking profits and that cannot be argued. Engaging your customers in an environment they are comfortable such as online social sites can increase your bottom line ten-fold. Its free, it’s fast, and it can go viral – Oh, and did I mention that most of your marketing efforts can be done for FREE? Set up business pages on social media sites you feel your target market will be using, and get posting now!

3. USP (Unique Selling Point)

Your USP will define your brand. Having a Unique Selling point will show your customers why they need to purchase your product over a competitors. It also shows the consumer that your business or company has clear direction. So many of my coaching clients fail to brand their business with this crucial element, but once created with them, they outstrip their competition and increase sales with their clear Brand communication.

4. Cash Flow Forecast

Okay, I know figures can be boring, and you may be using your redundancy pay to fund your business, but cash flow is KING! There are no two ways about it. You need to forecast and plan ahead – know exactly what is going out when, and what needs to be coming in when. When times are tough, you’ll need this part of your business plan to survive, tiny adjustments and tweaks can help you ride out a cash storm.

How far are you with your Business Plan?

Did you include any of these four items when you were planning your new business? Are you including them in your future plan?

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Posted in: Business Plans

About the Author:

Caroline Baxter is a serial Entrepreneur, Business Start Up Coach, and recent bestselling author on Amazon. Having started her first business aged 24, she now has multiple businesses in property, the motor trade and online and offline business consultancy. Caroline is now starting a series of live training events to support entrepreneurs looking to plan launch and grow their business

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