Best Business Development Strategies In 2019
Best Business Development Strategies In 2019.
Any enterprise is built by wise planning, becomes strong through common sense and profits wonderfully by keeping abreast of the fact (Proverb 24: 3-4 TLB)
Good day friends, I believe today you’ll take a new step in developing your business plans for success in 2019 and years to come. But while we plan for our business, most of us had made some mistakes as a result of wrong planning. But if we know how to go about our business with right plans and action, there is an assure law of harvest. So, what plans are you sowing for your business and what do you want to reap?
For the business person, careful planning or “wise planning,” is an essential key to insure profits and continued business success. According to God instruction to Habakkuk, Write the vision and make it plain (Habakkuk 2:2) [Leaving A Legacy Behind This Year]
By writing your business plans and goals to writing, you focus your thinking. This will produce the single-mindedness necessary to put into motion to achieve a force to bring result. And what are the important aspect to get a successful result in business:
- A Budget.
- Don’t compromise principles in business.
A forecast enables you to look at your business financial future. This will help you to analyze the operations and ensuing cash flow that might result from various reasonable assumptions that can be expected to occur.
You can analyze the anticipated effects of a change in a course of action. You can consider various “what ifs” to determine the financial impact of unanticipated contingencies. This is to say, forecasting would help you determine and prepare for the future financial requirements of your business. Such as:
- What if I open a new office?
- What if I develop a web page?
- What if I hire two or more sales persons?
And the questions go on and on…
A budget is an essential tool to help you implement day-to-day decisions. Once in place, it can help you identify expenses that may get out of line. In any successful undertaking there must be a solid financial base. It is generally agreed that you are doing things right if your are producing a profit. Remember only a workable budget will help you produce that profit in business.
A budget can also help you identify areas that may not be cost effective. It may take some time to prepare, but once you have quantified the cost and expenses of the aspect of your proposed or existing business. A budget is a powerful tool to help stay on the right track to success and profitability in business.
Goals do not only define a desired destination or accomplishment, they actually propel you toward the attainment. This is to make you understand that for a business to succeed, you must have goals for it. The first objective of your business should transcend all other goals.
Your business should be so familiar to you that you can say them from memory in 50 words or less. To be most effective your written set of goals should be stated in the present tense. Your goals should be so real that you can say them as though they are a present reality.
Your goals should definitely be quantifiable. This means they should be stated in dollars earned, unit sold or other measurable terms.
4. Don’t compromise Principles In Business.
Any and all decisions should be able to stand up to the light of day, following the golden rules of common sense, decency, and fairness. Decisions that compromise those principles inevitably end up bearing a cost. This might be financial lose, the loss of reputation, or the loss of relationship-and is frequently all three.
In conclusion, poor management is almost always a strong contribution factor for business failure, and poor management is a result of lack of planning, no budget and compromising principles. So, do your homework, prepare your plans, and take a step. I see you succeeding in business.