Withoutplanning, online marketing and promotion can be an enormous wasteofboth time and money.
Business plans and marketingplansarecrucial for theeffectiveoperationandultimateprosperityofany business.
There are four main sections toabusinessplan.
Firstisa thorough description ofthebusiness.
Nextisthemarketing section which actually lines out your plan foronlinemarketing and promotion.
The third section is the financialsectionwhere you plan for financing your businessandprojectyourincome, expenses,assetsandliabilities.
Thefourthsectionofa business plangenerallydescribeshowthebusinesswillbe managed andmayincludepoliciesandproceduresinavery detailed business plan.
The sections of a business plan may be arrangedinadifferent manner from what is described here, but for the most part,these are the four main sectionsofabusinessplan.
Anexecutive summary is often placed at the beginning of abusinessplanto briefly highlight the plan's main content.
Appendices may also be used to present supplemental information such aspastfinancial statements and resumes for the key personnel in the business.
Business plans serve many purposes.
Oftentheyareused(and sometimes even required) to get bank financing for thebusiness.
They can be used toattractpartnersandinvestorsaswell.
Perhaps the most important purpose of a businessplan;however, is to guide your operations and to keep your businessactivities focused so you can achieve the goals set forth inyourbusiness plan.
The marketing section of the plan gives you a guide for you online marketing and promotion activities.
Defined milestones and a budget foronlinemarketingandpromotionarecrucialto launching and operating aproductiveandbeneficialmarketing campaign.
There is one fatal error thatbusinessownersrepeatedlymake when it comes to their business andmarketingplans.
Thatis, they put their heart and soul intopreparingabusinessand marketing planthatcarefullyconsidersallaspectsofthe business, clearly defines the intentions for the online marketing and promotion of the business, and sets apracticalbudgetfor the business.
Then, unfortunately, many business owners sit their incredibly meticulous business plan on a shelf and never refer to it.
They strike out on their own,withoutthebenefitofthe actual plan for their business.
When this happens, it is highly likely thattheywillgetoff track with their business and withtheironlinemarketingand promotion.
They will not be using their guide and they will spend money frivolously, especially for online marketing and promotion, and their goals will not berealized,theirbudgetswon'tbe adhered to, and their income projections will not be met.
This is a tragic situation that should always be avoided.
A business and marketing plan that is actually used to guide your day to day business activities, including youronlinemarketing and promotion, can actually set you apart from the competition as well as making iteasiertoachieveyourgoals,tohavea profitable business, andtogrowthebusinesssubstantially.
Whether you prepare your own business and marketing plan, or hire a professional business or marketing consultant toprepareyour plan for you, you definitely need to engage in business planning.
Without a doubt, a well planned onlinemarketingandpromotion program will increase the odds of an onlineventurebecominga flourishing and rewarding business.