4 PLANS EVERY BUSINESS MUST HAVE - Padebi Ojomo

4 PLANS EVERY BUSINESS MUST HAVE

There Are Variations Of These Plans Everywhere But I Personally Believe That Every Successful Business Has Plans That Can Be Boiled Down To These Four.

The business world has a reputation among people that know it very well and that reputation is one of instability and a bit of unpredictability. One day the road is smooth and it is easy sailing and another day, it is so haphazard, you are barely hanging on.

You would sometimes be on a roll and it’s like you can’t do anything wrong and suddenly you are taken away from that high to the deepest valleys without the slightest warning.

What perpetual winners have learned to do over the years is to never navigate these waters without an ever-present guide. A guide that will be there helping you maneuver through the toughest paths and wade through the use waters.

That guide or maybe I should write those guides are your plans, they are like your navigation systems or for simplicity your maps that will ensure that while others sink you don’t and in fact, if you make mistakes you can come back better.

There are variations of these plans everywhere but I personally believe that every successful business has plans that can be boiled down to these four

 

THE BUSINESS PLAN

This is the plan of the whole building or like I love to call it the umbrella plan, this is what will lead you and in fact, help you start. This is where you look at the audience or niche you have chosen and start to plan your angle and exactly what percentage and section of the market aren’t getting served adequately.

Here is where you decide what product you will serve them with, and ask yourself if you would create something entirely new or you just improve on a service people are already used to.

It is also in this plan that you answer the what and why of your business i.e. what exactly is your business about and why should anybody spend their hard earned money with you.

It is important to look around and check with your potential business audience before drafting this because it is only when you have a full understanding of this that you can move to the next plan which is also a very important one as it can give a great edge and that plan is,

 

THE BRANDING PLAN

The business plan made you understand yourself. This plan will make people look at you and in few seconds they will understand you and most importantly differentiate you from others.

Branding is a wide subject and it goes farther than the colour of your logo, business card, and building, it is even far more than the level of service you offer.

It is that intangibility that sets you apart and to simplify it, I think you should start with your unique promise. The truth is nothing brings people close like a promise that gets fulfilled daily, it’s like a couple that stands in public and professes their love then puts in the effort to show said love daily.

Start your branding plan by creating a promise you will deliver daily, unfailingly and your brand will stand the test of time. It is what we call USP in business which means Unique Selling Proposition and from that acronym, you can see it must be unique or it will be a huge waste of time.

There are a lot of companies with great USP’s but I stumbled on one recently called the Mast Brothers. They make chocolate but they do theirs differently and their USP is “WE’RE FROM THE 18TH CENTURY, BACK WHEN CRAFTSPEOPLE WERE REVERED AND TOOK PRIDE IN WORKING WITH THEIR HANDS”.

To back that promise up, they make every chocolate bar by themselves and that goes for everything in the process. They sail to foreign countries to buy the best cocoa and then monitor everything in the process and make the chocolate with their own hands.

It might seem normal to you but very few chocolate companies have that level of dedication and that sets them apart and brings an unending line of customers to their doorstep.

Once you have found your USP, you can now model everything about your business around that and there you will have it, a complete and functional branding plan.

 

THE MARKETING PLAN

So you understand yourself and in fact, if people see you, they will understand you and differentiate you from others but how do you get those people to see you?

Are you going to use the internet or the other available outlets? and even if you know the medium you will use who are the people you want to reach? Are you trying to reach single or married people? the old or the young, single people, single people that have no job? You might even want to reach the clergies or just the pregnant women under 35.

You need to take the time to find that out and then create a plan that will ensure you always get to them in a plethora of ways.

Your plan shouldn’t stop there though, you should get to them and always convince them to take that action you want them to take or else you will have haphazard results that will affect your bottom line.

 

THE PROFIT PLAN

You could have a thousand printed documents detailing your marketing, branding, and business plan but if they don’t lead to great profit then you are not yet open for business.

All you have is a flurry of activities that aren’t going anywhere and might ultimately chase you out of business.

Crafting your profit plan might be different depending on what you do but it must involve taking all your cost into consideration and making sure whatever a customer pays for your services is worth it.

That means it covers your cost and still has you smiling to the bank.

There you have it, the four business plans you must have to have a thriving business.

Tell us below which one you have, which you will like to have and which you struggle with.