Guest Blog post by Terry Boddie, President & Agency Liaison Director at Marketing Media Management
You don’t just get in your car and start driving if you don’t have directions to where you’re going do you? Of course not, so why do the same thing with your business by not having a business plan? Having an updated and clear business plan is necessary for running a successful online marketing business, and not having one is something that should be avoided.
The most important reason to develop a business plan is to make sure everyone is kept on the same page. When the business plan is created early on, you create the important base for your company to be built on. This allows the management team to set specific goals, which makes them more equipped at defining what is important. Without the business plan, management won’t be able to describe these goals, which leads to confusion with employees and customers about the online marketing.
Developing a usable plan involves specifying your business’ mission and vision, which is necessary to keep the company running smoothly. When presenting to potential customers or investors, it is important that they are able to tell exactly why they should choose your business over your competition. It also creates a blueprint that your employees can follow to focus their work and maintain standards with the online marketing.
Businesses can’t survive or expand without the help of other individuals and businesses. When you have a business plan it will assist with developing business alliances to grow your business, and will help you learn where those potential alliances can be found. Other necessary professionals, such as attorneys, accountants, and consultants will need a business plan to properly help your business.
Creating a business plan for your company doesn’t have to be something daunting. By using pre-made tools such as LivePlan, a useful business plan can be made easily. Tools like this also provide the ability to constantly update, which is what a business plan requires, and ensures your online marketing business stays up to date and competitive.