Implementing your Business Plan
09-07-2009
If all has gone well, you have now arrived at the stage of being in charge of an alive and running business. You have decided you posses the right qualities and conditions to run the business. You have developed a Business Plan, assed profitability, decided on the legal form of the business and chosen premises from which to operate. You have considered financial control of your business.
Making it happen
You need a Marketing Plan as part of your Business Plan. Use it an keep a marketing diary. Sales are the lifeblood of your enterprise.
Your customer
Never, never forget that it is your customers who pay both your and your employees salary. So listen to them, smile and never let them down. Customers will often respect you if you say it is your fault or your responsibility. Complaints are, to a good salesperson, an excellent way of getting more sales!
Your product
No product has an everlasting market life. Try to anticipate a decline in the market for your product. Be ready with a new or updated product. It may only need a tweak, so don't overdo it.
Competition
Don't be afraid of competition Always keep a watchful eye on the market. They may give you ideas that will give you even better ideas. Make sure you keep your file on competitors up to date.
Advertising
Try the logic of target customer. Design the promotion to suit the target. Somehow you have got to tell your potential customers what you have for them. You can use the local radio, newspapers and Yellow Pages. Direct mail shots are cheap, but don't expect more than a 1.5 to 3 per cent success rate. Try to se sensible and not go overboard.
Public relations
Your local newspaper or radio station may be interested if you have some unusual or exciting new product. They may wish to tell their readers or listeners about, especially if you are a local person.
Personal selling
Selling is about persuading people to buy what you have got. When selling make sure you remember that every customer is important. Get your USP and the benefits of your product straight. Understand the difference between benefits and features. Don't ask the customer whether he or he wants to buy the product before you have extolled its benefits. Finally, be sure you and the customer are in agreement about how payment will be made.
The money
When you have revised your Business Plan, you will probably have found that you need more capital to support the growth plan. Expansion is not always easy to handle. The usual reason for increasing sales is to increase the gross profit. Do not neglect to find other ways.







