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Business Essentials

Reviewed by Sujaini | Updated on Oct 05, 2020

Catalogue

Introduction

Successful businesses are proactive, not reactive, in their growth. A business plan helps you analyze the marketplace and create a marketing plan, price your product or service, create an operating budget, determine your financial needs and raise capital, hire staff and plan for different sales scenarios that might occur.

Why is Business Essentials important?

Without sales, the best product or service won't help a small business be successful. You must be able to create a marketing and sales plan that includes the ability to communicate a clear message to your customers and effectively distribute the product. Once you convince customers to buy from you, you must be able to deliver the product to them, either allowing them to easily go out and buy it in person, or order online or by phone.

Summary of the news

Successful businesses are proactive, not reactive, in their growth. A business plan helps you analyze the marketplace and create a marketing plan, price your product or service, create an operating budget, determine your financial needs and raise capital, hire staff and plan for different sales scenarios that might occur.

Future Impact

Include the latest and greatest high tech to leave the competition behind. Technology keeps a small business ahead of large business. In larger businesses, barriers from logistics or a lack of capital may exist. Changing systems and processes can be slow.

Keeping the latest technology integrated in the business ensures better data, improves decisions, overcomes service barriers to WOW the customer and improve efficiencies. Technology can make a business look like a winner and people love to be a part of winning, successful teams.

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