I watch the #CBS program “Undercover boss” a lot. One day, my daughter asked me why. My response, because one day, my business is going to be that big that I can give away millions of naira to deserving staff. But these people didn’t just get to where they are, there’s a lot that goes into planning and execution.
In the last post, we discussed why you should have a business plan as a #bosslady with a vision. We move on now to
What should you consider when putting together your business plan?
1. Your idea: Is it viable? Is there a market for it, does it solve an essential problem, are people willing and able to pay for my solution?
2. Marketing: Who are your customers, where are they, what do they do, how will you attract them?
3. Operations: Who will be involved in making this business successful? What is each person’s duty? What are your operating procedures?
4. Communications: How will you keep in touch with customers, suppliers, investors?
5. Financials: How are you going to make money? What is your sales projection, when will you be able to recoup or return the money you or your investor invested in the business?
If you can have concrete answers to these questions, then you are well on your way to having a bankable business plan.