Take a look at my latest Vlog on how I took my last venture, Elite Fitness Apparel from concept to market! You can find it on my facebook page!
Strategy is key to the success of any business. From day one i used the below 4 tips to create a business plan that has been on my wall for over 26 months.
Each an every one of my objectives have been ticked off over time, my tangible whiteboard may seem unnecessary However I see it every day of the week.
This creates a self-fulfilling prophecy. I see it and I belive it and trusted my plan to grow and the business to succeed.
- Mission – Have a mission that is inline with your personal beliefs and the business.
Create a mission that you will be proud to stand by in 24 months time. - Objectives – Write down a mix of objective, some quantitive, some qualitative. a mixture of financial and soft objects. Products or an expansion plan.Using these objectives you can reverse engineer your business plan to build in milestones and ensure that your crossing off your own objectives one by one.
- Position – Analyse your business, your surroundings and you personally.
What are you good at? What do you need to work on? What is the business great at?
Plan out your Strengths, Weakness, Opportunities and Threats. - Options – Using the above 3 objectives collate a plan of action detailing out your mission, your reverse engineered way of getting there through small increments.
Analyse your position against the market and use your strengths to help define the strategy you take.
My Business Mentor 