There is a common misconception that planning is all about the future.
Huh? Wait – Planning is not about looking ahead?
That’s not what I mean – I mean, planning is not all about the future. It is about the present and the future.
Planning is all about gap analysis – where are you now; where do you want to go, and how do you bridge that gap?
I get a lot of questions about planning and one of the most common errors I find is that people get mixed up between strategic pans and business plans.
In my opinion, a good forward looking business needs both. The reason is that one cascades from the other, but people get confused and talk about strategic plans when they really mean business plans.
That’s why I created an easy to understand business planning process flowchart which you can download for free.
It explains what the difference is, but also, how one flows from the other.
So, what is the difference?
I can’t believe it!
In over 30 years’ of consulting to small businesses on their growth strategies, I have worked in the UK, the US, Asia and Australia, and while the largest majority of small business owners understand the need to plan and budget, and even gradually realise the value of systems and organisational structures, most of them still question the need for a marketing plan.
It doesn’t matter where they are – I think deep down inside they just think that marketing is something that “happens” when they start their business. They have something good to sell. They believe in the vision and values of their business. Build it and they will come – and if they don’t come as quickly, ok, we’ll market….we’ll advertise!
Sorry people – advertising is not marketing.
Pricing your product is not merely about whipping out a calculator.
Price is a legitimate marketing strategy.
Sure, you need to calculate your pricing so that you don’t make a loss and so that your financial objectives are met, but beyond that, you need to set your price so that it is attractive to your customers and suits the placement of your product in the market.
This week, I have a free downloadable worksheet for you to work out how your price can be a marketing strategy to attract your target market.
How does price do that?
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