Doing a business plan or business plan becomes important when starting a business. Because, the possibility of failure is very large, if there is no good planning. Especially if the business started has many competitors.
Business planning is not influenced by the size of the business. No matter how small the effort, there still must be consideration and planning in getting started. This plan is not just in the mind or just spoken, but must be made in written form. This will be a guide in running a business.
But in reality, many people fail in making business plans. I suggest if possible, it never hurts to use the services of consultants. But it must be adjusted to the business that will be initiated, because it requires additional expenses to pay for the services of the consultant. If it is not possible to use the services of consultants, you can learn more deeply about the business or business that will be cultivated.
There are various aspects of a business feasibility study. Among the level of benefits to be obtained, the possibility of business continuity, as well as the target market share. These things are used to make decisions whether a project or business can be done, postponed, or not run. Someone said that they had to understand the location of their business. The location does not only talk about the place, but also its market share. The possibility of business continuation must be considered. Don’t let the business only run for three months. This is what must be considered.
Business feasibility studies are very important research to do before a person or group of people starts a business. It also intends to avoid the risk of loss, facilitate business planning, business implementation, and control and supervision.
In business planning, there are several things you can do. Among them:
* Business Description
You must understand the ins and outs of the business that will be undertaken. This business description can be from the form of business that you manage or the products or services that you offer. In addition, this description also describes a description of the price of the product or service, operational costs, business targets to work systems that apply to the business that you manage.
* Competitor Analysis
After you finish compiling a description of your business, do a simple analysis of the business competition that you manage. This is to find out the weaknesses and strengths of your business competitors. Also determine whether you want to be a Market Leader, Market Challenger, Market Follower, or Market Nicher. If you want to be a leader, there must be something new and different from the existing ones. Usually this market leader is a business or business that has developed rapidly and has a name. Meanwhile, those who are market challengers are usually under entrepreneurs who are already market leaders. For example the market leader trying in the SEO field he also sells the same product. If you want … Read More..