If you're one of the many people thinking about starting a small business, having a business plan is one of the first things you should have on your list of things to do. It doesn't matter if you're starting a small business from home or away, having a plan for your business is considered a blue print for a successful small business. What is a business plan and why do you need one?
Creating a Marketing Plan _ Similar to a business plan, the marketing plan spells out how you will market to new customers and retain current ones. The marketing plan should identify your target customers and develop a strategy to reach them effectively. Your marketing plan usually includes market research that gives you a profile of the ideal customer. As with your other plan, it is important to identify any strengths, weaknesses, opportunities and threats that may affect your company's operations.