By Rao at July 21 2019 15:52:29
Then there are the moments when something seems to be going wrong, when one or more areas of the business just don't seem to be working. Cash flow is anemic or the marketing message is flat. Perhaps customers have shown a marked interest in only one particular product or service, ignoring all your other offerings. This means it's time to revisit your business plan, more precisely it's time to revisit the questioning process that helped you craft your plan.
Here is the way I would encourage you to set up a growth business plan: • Do some dreaming about what you would like your lifestyle to be • By dreaming decide on an average income you would like to have over the next few years • Decide how many years out you would like your plan to cover • Decide how much profit you would like for your business to generate above the income you want for yourself. • Set up a profit and loss statement of your existing business or your proposed business • With the right business knowledge and a profit and loss statement you can actually use that data to see what your business would need to do for you to give you that income and profit • Even better you can determine what size market you would need and even determine whether your market would support your business presently and in the future.