The first step in developing an effective marketing program is to develop a comprehensive business plan. Lots of folks try to market their businesses without ever having established any strategic goals. And lots of businesses have failed.
Having a business plan is like having a roadmap. You might want to go to California but how are you going to know if you’re actually getting there or if you’re just out having a great ride? Business planning is all about setting goals and determining what objectives you’ll have to accomplish to reach those goals. (Like a roadmap, get it?) And it lets you measure your progress.
Every good business plan will contain the same basic elements:
- Description of your company and its products and services.
- General overview of your industry in the current economy.
- Analysis of your competition and why you’re better.
- Portrait of your customer.
- Strong marketing message and methodology
- Operations and technical approach.
- Management team.
- Growth strategies.
- Budget.
In order to be successful in business you must first be successful in marketing, but do the first things first:
- Write a business plan.
- Keep it real.
- Be sure it’s reasonable.
- Do the research.
- Have people who are objective read it.
- Update it regularly.
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