Every business starts with an envisioned concept, lots of ideas, and a creative product or service that solves others’ problems and is, hopefully, positioned on the front of the wave. This may be one of the most exciting times when launching a new product or service, but many may find that the next step of planning business growth is the most challenging.
This step in the planning process is to develop a game-plan that identifies potential markets. A game or business plan is a working document that reflects the continuous changing market trends and includes essential activities and initiatives to ensure that you reach your goals and objectives. Game-plans can keep you organized and focused on your most important and time sensitive goals.
Some questions you need to ask yourself:
· Is it doable?
· Do I understand the marketplace that I’m entering?
· Does it compliment my strengths?
· Who is my competition?
· Is it a growth industry?
More companies could succeed if they do their due-diligence and make well thought out, educated decisions.
Mike Levi is C.E.O. of Levi Inc. a 19 year old business advisory firm that is in the business of building and implementing sales and growth strategies for emerging businesses.
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