Are you planning your business? Or are you reactive to what comes up? It is normal to be somewhat reactive to things that occur on a daily basis. A customer calls with a complaint. You find out your production is delayed. Sometimes many days go by and you realize you haven’t done anything to build your company.
This happens to all of us. But it shouldn’t. There are important things you must do that moves the needle forward. One of the important tasks that needs to be a vital part of your business is marketing. I have a marketing plan that I have developed for my business. I have different activities that I have planned into my week. For example my goal is to blog 3 times a week. I schedule it for Monday, Wednesday, and Friday. I’m not perfect and sometimes miss a blog. But I usually keep to the schedule.
It is easy to start a project, but without careful planning it is like setting off on a journey to an unknown destination without a roadmap. You might manage to make it to your destination eventually, but don’t be surprised if you get really lost on the way! Not planning can also lead to overwhelm. By having a plan and are following it you have a sense of accomplishment.
A business plan can help a company assess future opportunities, choose one, and then commit to a particular course of action. By committing to one opportunity, all other options are effectively marginalized and the company is aligned to focus on key deliverables.
Yesterday I spoke with a potential client. I was impressed with how he operated his business. He had a vision for his company and stayed focused on that vision. If an opportunity came in that was not part of his plan he did not allow himself to be seduced by it. Instead he concentrated on the business that he planned on pursuing. His business has been growing dramatically in a very short time.
Business planning is an essential activity, regardless of the stage of business you’re at. The very process of producing a business plan enables an entrepreneur to give due consideration to the various factors that mesh together to create the opportunity they are seeking to explore, as well as the resources required and the key drivers needed for success.
Maria Pesin knows fashion, especially the business side of the fashion industry. Do you know how Manolo Blahnik got his start in the industry? How he leveraged a paltry 3 grand into one of the world’s most famous luxury brands? While she doesn’t take credit for Manolo’s success, Maria has walked a similar path on numerous occasions. The world of fashion is not silicon valley, and it has nothing to do with Madison Avenue marketing. In this industry there is ALWAYS room for something new and exciting, but you have to have your ducks in a row. If that’s what you need, believe me, Maria is the General Patton of fashion ducks!