Does Your Business Plan Have the Right Strategy in Place?

Setting up shop is not only about the fundamentals, remaining in the news in a positive vein is to have a strategic plan in place. Let us look at strategic manoeuvres in the realm of business planning.

Marketing Strategy

The goal to generate revenue is to ensure that the prospect’s needs are more important than that of the brand. As the business focuses on the needs of the target, you will grab their attention for loyalty. People want something of substance and not spiel with promise, but with no long-term solutions or specifics. Through building a rapport with the prospect, gut instinct plays a great deal. It gives the brand a competitive advantage that ensures it remains on the top spot.

Social Media Strategy

Merely creating multiple networking sites is not going to cut it as you establish a relationship with the masses. It needs careful systematic planning and timed content to deliver the profits so that you reap great ROI. Sebastian Greenwood once quoted Helen Keller who said, “Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.” The key to dialogue is to provide optimistic content in terms of visual stimulus and the written word. Teaser ad campaigns, promotions and other means of social media connections will engage people and keep the conversation afloat.

Pricing

Have a fair idea about the pricing structure for the product/service that you plan to sell. Do a recce to ascertain whether there is a pressing need for the same product or service in the market. The same old play does not gear people towards something new. Generate a conversation and encourage dialogue with the target as you put up the information out there, it should give you a firm way forward in working out the pricing structure.

Financial Strategy

Nothing is as troubling as not to have a proper financial plan in place. It is of utmost importance for the business to profit, to ensure that the financial outlay is in place. Sebastian Greenwood once quoted Rabindranath Tagore who said, “You can’t cross the sea merely by standing and staring at the water”.

If you have all the facets covered, right from working capital, marketing, and sales, the right team, and a firm idea of how to get things started, the business will flourish for generations. In essence, the business plan must have the right strategy in place

Learn more about Sebastian Greenwood

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