Staying Committed to Your Business Plan?

After reading a blog this week about staying committed to your business plan, which appeared to be directed at early startups, I thought I’d comment on the situation.
1. How are you doing to your goals of being at x revenues by y period? If you’re above where you expected to be, great, but if you’re below projections, what can you do to fix the situation? When companies are below projection, it’s usually because the sales force isn’t doing as well as it could or should(we have a course in evaluating the force) and possibly the web site isn’t drawing as well as it should. We also have a course in internet marketing.
2. Is your value proposition really working with your target market? If so, it does take time. The more radical your business from the accepted norm, the more time it takes for acceptance.
2. Be flexible; maybe your business plan needs some adjustment. We are working with a client who’s modified his product five times (patenting all five modifications) and the product gets better acceptance with each mod. Do you need to do mods? What did the competition do when you launched?
3. Be persistent. Make those calls. But, listen to the customers; what are they telling you about your product or service? Is it good or bad? What could you do differently? Customers will usually tell you, but you have to be open to receiving the information.
4. It’s good to have supportive friends and colleages, but they should also tell you when you’re off-track. Go look for help you think you need; join an owner’s peer advisory group.
5. If you’re having a bad day, go down to the local Starbucks, have a latte and review what went right over the past few days or weeks. By the time you’re done, you’ll be in a better frame of mind.
6. Most important, stay positive, which is much the same idea as the previous idea. This goes for your business life and your personal life.
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3 Responses to Staying Committed to Your Business Plan?

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