I have been part of a business network for over a year now and have had the opportunity to observe hundreds of tiny businesses from very close. I’ve come to realize that business learnings from big companies could help these small businesses grow. One significant difference between big and small businesses is planning. Big businesses always plan and invest huge resources in getting ready for business. Most small businesses are acts of daring, and they start on the back of confidence and encouragement and not much else. Some of them succeed, but most remain small. It is like jumping into water because you are confident that you will get through to the other side.
I believe some basic coaching in preparing for business will do wonders for such entities. These three plans can help every small business to sustain, grow and be profitable. This is what larger companies do when they launch their new products or services in the market.
1. Prepare a Business Plan: Making a business plan will require you to research your offerings, market, competition, and pricing. Next, you will need to set a target and figure out resources. Use tools like Business Model Canvas. This will help make you aware of your own business.
2. Prepare a Brand Plan: Get ready with the basics of brand articulation; give yourself a name, an identity, a good product and service; and think about your essence. The brand plan will prepare your business for scaling rapidly.
3. Prepare a Marketing Plan: Once you have an idea of your target customer and what you will offer them, get ready with the essential marketing tools. Set up a small working website (even if you feel you don’t need one) and your social media accounts, get a small brochure made, and explore digital marketing.
This doesn’t take any time once you already know your business, but it will give your business wheels. I am happy to help you get ready for business. Just get in touch.
Sudhir Sharma, Editor-in-Chief
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