Business Planning is an
important feature for starting & running a
successful business. Some tips that could come in handy
at the planning stage are:
- Clearly define your business idea and be able to briefly explain it. Know your mission.
- Be clear of your motives & examine them. Having a passion for owning a business especially for this business would make you overcome hurdles that would come your way.
- Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
- Be well aware of what is going on around you, in terms of analysing your market, including products, prices, promotions, advertising, distribution, quality and service.
- Do not hesitate to ask questions. Keep an open mind to the responses you receive.
- Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local business support institutions like SMEDA, EPB, WCCI, etc.
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