Business and Management

Business Development – A Brief Guide

Starting your own business is not a joke and will require some sizable preparation on your part as upcoming entrepreneurs. In order to increase your chances of success in business, you will need to master the steps of a strong business development plan.

Here are 3 steps to guide to the successful development of business:

1. Develop personal and business goals

Many businesses fail because business owners do not have a sense of direction. Developing and expressing your personal and business objectives will serve as a roadmap and provide a sense of direction.

2. Identify a viable market  sector  for your product (s) and or service (s)

Some people fail in business not because they do not have their business finances to start-up but because they have a product or service that no one wants to buy. To achieve professional development in business, you will need to listen (attentively) to the market. 

3. Work on your marketing plan

The main objective of the development of a marketing plan is to just explain how you want to create and maintain client/customer to make profits. The plan should also state the following:

– your target market

– How do you intend to penetrate the market

– Why your sales campaign will succeed

– How much are you going to sell within one year and over the next 5 years?

Flora Wilson