hello business buddies.. I just want to drop some useful facts that can make you successful in your business.

7 Facts of Business Success
Fact 1: If you don’t lead, no
one will follow.
Fact 2: If you don’t control it,
you don’t own it.
Fact 3: Protecting your
company’s assets should be
your first priority.
Fact 4: Planning is about
preparing for the future, not
predicting it.
Fact 5: If you don’t market
your business, you won’t have
one.
Fact 6: The marketplace is a
war zone. Every company has
competitors, and if it doesn’t
and it’s successful, it soon will.
Fact 7: You don’t just have to
know the business you’re in;
you have to know business.




What are the elements of a good
business plan?
Just to clarify, seldom do businesses
have the same market
opportunities, available capital,
product lines and culture, etc.
meaning every business plan is
different. But, having said this,
every business plan has some
commonalities:
1. Destination or vision - where
is the business going, and
what will it look like and
when will it get there?
2. Mission statement (DNA or
culture): how the business
will operate on a daily basis
and what operational
processes will have to be in
place in order to achieve the
vision. The mission statement
also includes how employees
will work with other
employees and how they will
handle the customers.
3. Goals. What will be the
major goals to achieve in
order to achieve the vision.
4. Analysis. Includes
understanding the internal
business strengths and
weaknesses, where it is in the
market in relation to
competition, size of market,
and how the business stacks
up against others.
5. Strategies. Developing an
action plan based on the
above realities.
6. Objectives. Short term in
nature and shouldn’t be
overwhelming in number but
are set based on the goals in
number 3 above. If they don’t
match up, then more work
has to be done on the above
elements until they do.
7. Summary and
communication. Sharing the
plan and objectives with
those who are responsible for
executing and implementing
them
8. Implementation. The rollout
of the plan in an orderly
manner
9. Review. Look at the
expectations and review
against the actual results. Fix
what is necessary and
improve on the strengths.
In order to plan effectively these
nine elements have to be present,
and each element has to work with
others in order to be effective. Plans
are constantly in flux and change
because not everything happens as
expected, and it’s the leader’s
responsibility to change the plan
when both outstanding and
unfortunate results happen..

feel free to add yours.