The Business Plan…Resurrected!
// July 9th, 2009 // View Comments // Small business
It is interesting to see what economic change triggers.
Sure, it triggers us to count our pennies, buy in bulk, conserve energy etc. etc.
But you know what else I notice it has a lot of entrepreneurs doing?
It has them dusting off (and in some cases resurrecting) their business plans. That’s a good thing (more on that in a minute).
See, good economic times can make us lazy. Good times allow us to take some things for granted. Gone are the days when we could “name our selling price”. Now every prospect and their cousin is using the “Oh, the economy is so bad, I can’t afford your retail price” excuse.
So it’s time to get back to the basics. It’s time to focus on the fundamentals.
Grab that original business plan you wrote and dust it off. Read about why your product/service was going to be unique. Read about what marketing processes you used when you first started off. If you are still in business today, chances are, those strategies worked. And since you probably were not rolling in cash back then, the ideas were pretty fiscally savvy. It pays to go back to the basics during times of economic change.
Go back to your original Brand Positioning Statement and Communication Matrix.
– Who did you originally define as your target audience?
– What were their needs and aspirations? How were you going to meet those needs?
– What was the “message” you were shouting from the mountain top in the early days?
You may be surprised to find that many of the best ideas to grow your business are not waiting for you in the next seminar, workshop or bestselling book.
The best ideas to grow your business may just be in that dusty business plan. So dig around for it this weekend, dust it off and see what happens next.
I’m sure you’ll have some a-ha moments. And I’m willing to BET you’ll find yourself smiling from ear-to-ear as you thumb through the pages of what someday will be a sought-after treasure!
Your fan,
Joe…
