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Business Interests »Tips, tricks, and advice
SCORE’s 5 Tips for Effective Business Planning
Milo Plurnbottom about 2 years ago
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If you are not familiar with SCORE, they are self described as Counselors to America’s Small Business and America’s premier source of free and confidential small business advice for entrepreneurs.
They provide a variety of services for all types of small business, but can be especially useful to new companies and business owners. One might call it an invaluable resource if you are a first time business owner following a dream.
But their simple list of 5 Tips for Effective Business Planning is advice that a business of any size would do well in reviewing:
- Clearly define your business idea and be able to succinctly articulate it. Know your mission.
- Examine your motives. Make sure that you have a passion for owning a business and for this particular business.
- Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
- Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.
- Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local SCORE office.
List brought to you by SCORE “Counselors to America’s Small Business.”
For more useful business advice and resources visit the SCORE website .Best of luck in your business ventures.
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