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Old 23rd February 2010, 09:49 PM   #1
jasmine19
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Join Date: Feb 2010
Location: U.K
Posts: 1
Default Powerful Steps To Small Business Success??

Hello Friends

1)Develop your personal and company goals:New business success requires a combination of knowing what you are doing and capitalizing on a good opportunity. Develop and clearly state your goals in a written plan, which will then serve as your road map. They give you a sense of direction and help you get to your destination, a successful business of your own, with a minimum of time, effort, and expense.
2)Define a viable market segment for your product or service:The next step in starting a new venture begins with listening to the marketplace. Define an unmet consumer need first, before you develop a product to satisfy that need.
3)Develop your marketing plan. The purpose of the marketing plan is to describe how you will attempt to create and maintain customers for a profit. It needs to state whom you are going to sell to, how you are going to penetrate the market, why you will be successful with your sales campaigns, and finally, how much you will sell annually over the next five years.
4)Write your initial version of the business plan:Your business plan must reflect the unique environment you will be operating in as well as what you plan to be your competitive advantage. It is an outline of the direction in which you plan to take your company, an analysis of your business strengths and weaknesses, and a skeleton from which your formal business plan will later be developed.
5)Determine your financing needs:Once you have developed a rough business plan, you can begin to determine your financing needs, which will be incorporated into your formal business plan.
6)Form your key teams:founders, management, and directors. Before developing your formal business plan, you must make sure you have put together a solid management team.

Have a nice day

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