Business Plan Mistakes That Often Happens

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Mistakes That Are Often Intertwined When Making a Business Plan The mistake that often occurs when creating a business sector is that there is no real business plan (business concept) as a result, the business sector does not have an expedition plan that focuses on the realization of the business sector. Moreover, a business plan can be said to be an important capital in carrying out business fields for business actors.

A good business plan can be lived and successful. The Business Plan also requires careful calculations and careful study so that the planned line of business can be carried out. But some prospective businessmen are making haphazard and poorly organized business plans, so that the planned line of business is difficult to realize.

1. Unwritten Business Plan

proconsultofficial.com ~ This initial mistake is a very simple mistake, namely the business plan is not written. Meanwhile, the business plan becomes a guiding plan that focuses your line of business towards success, but if the plan is not written down then how can you understand it? In fact, to face difficulties. Not only that by writing a real business plan, you will easily get funding from investors or when applying for a capital loan.

2. Lack of Market Studies

Economic progress on this earth is growing very fast, the data you have today is not certain to be suitable for tomorrow. This aspect affects the categorization of the business plan. In its preparation, the concept of the business sector cannot be tried in one day 2 days, it must be carried out with a minimum of 2 months of study, moreover it can be related to the market to be entered.

3. Random Target Sharing

Before determining the market division, you are required to do a study first what section you want to enter, so that the next day the products sold will match the target market. Unfortunately, there are still many business people who are confused about finding and determining who the target market is to target. Often they think that the product is special, innovative, and attractive and so believe that it can be obtained in the market, but in fact the product is not needed by the customer.

4. Inspiration Can Be Innovative But Also Must Be Realistic

Having innovative inspiration is indeed good, but sometimes aspiring business people often neglect the realistic aspects of the business field. The inspiration of the business sector must also pay attention to several aspects, for example, regional and traditional. Is it customary in the market position to welcome the product to be sold or not. Not only that, inspiration is also obliged to pay attention to the attitude of potential customers. For example, selling products that are not really needed by residents.

5. Low Competition Analysis

When all the internal aspects of your business are ready, then don’t forget to predict external conditions such as competitors in your business. Before starting your business, you are required to first analyze the strengths and weaknesses of your competitors. Analyzing competitors can also affect your decision in differentiating the product you want to sell.

6. Very Optimistic

Having an optimistic character is indeed good, especially for newcomer businessmen. However, being very optimistic is also not good. In each business plan categorization you are required to consider the worst possibilities that occur, don’t be too optimistic because the business world is indeed unpredictable.

Very optimistic also makes the concept that is made will be difficult to realize because the concept of a very optimistic business sector generally ignores small circumstances. The Business Plan also requires a SWOT ratio (Strength, Weakness, Opportunity, Threat) and you also have to pay attention to suggestions from other people or more professionals so that the results of making a business plan can be more realistic.

7. Don’t Create a Canvas Business

Generally, prospective business people don’t remember to make a business canvas in their business plan. In order to organize a business in the form of a canvas, a prospective businessman is able to describe the points that can make the planned line of business successful. Business The form of the Canvas consists of boxes, each of which identifies points that support the course of the business field.

8. Neglecting Branding

Business branding must also have been prepared when making a business plan. Starting from preparing a logo, campaign, and also a vision in carrying out the business field. Branding is needed to determine a sales strategy and also so that the product to be sold can be quickly recognized by potential customers.

9. Not Include Supporting Deed

The supporting certificate doesn’t really affect that much when you start a small and medium-sized business sector. But the supporting certificate is very important if you want to make a start-up with a large ratio. The supporting deeds generally consist of the legitimacy of the establishment of the industry, the message of the contract, the results of the market study, as well as the deed of permission to establish the industry.

10. Unrealistic Financial Programming

The latter is financial programming that goes wrong. Usually this happens because there is a big dream in dividing the estimated profit. Meanwhile, it is not certain if you can sell it for Rp. 100. 000 after that get a profit of Rp. 25. 000, because there will be unexpected elasticities when your business has progressed such as the main production price increase, the fuel price increase, and so on.

Such calculations are indeed not wrong, but you also have to look at the market reality that is still intertwined with the existence of a replacement business plan that you have previously made. Like that review of 7 mistakes that often occur when making a business plan. Don’t forget when the business plan has been running along with good financial records.

Having good financial records has the ability to help your business lead to faster success. Daily is an online accounting application that makes it easier for you to make financial records easier, faster, more comfortable and in real time. Also use a marketing invoice application to help you in writing marketing invoices.

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