5 Tips for Effective Business Planning


  • Examine your motives. Make sure you have a passion for what you will be doing.
  • Know your mission, and be able to define it in a few precise words.
  • Prepare yourself and commit to the discipline, long hours, continuous learning and frustrations that go along with owning your own business.
  • Research your market, focusing on products, prices, promotions, advertising, distribution, quality and service. Be aware of your competition, as well as outside influences that can affect your business.
  • Do not be afraid to ask questions or seek help from other small businesses, professionals, government agencies, employees and vendors.
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