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Planning is a well-designed process of handling any event before its occurrence. Planning develops a present picture of a future’s practical, it forecasts overall performance but the outcome of any planning depends upon luck and its accuracy. Precise nature of planning describes the real shape of any process & its resultant. – (Business Planning | How one can own the successful business???…)
Business planning tells us about the future of any business. It carries a control mechanism of any business and predicts the substantial business results. By business planning we make the estimate for the business and its overall achievement with the passage of time before practically starting any business. Business with proper planning & investment provides healthy & suitable profits. Market factors also affect the business profit on time graph. Those who know how to play & perform in practical business world intelligently handle the predicaments. Good businessmen manage the business associated problems by their controlled, cool & calm disposition.
How one can better plan the business? What is the requirement for a good business profit? How one can be a good businessman? How one can start a business with low Capital? How one can multiply his investment in a limited period of time? How one can avoid the business loss and recover invested Capital before the business shock?
Above are the questions which every new business person asks and he needs the answers also so that he can secure his investment and earn more profit. Nobody wants to suffer a loss after starting a business.
One thing is Crises and another important thing is Crises Management, both the things are interlinked with each other. Understanding the types of “any specific” business crises and management of these crises in running business environment is the most important part of any business planning. Business without planning is market associated economic activity only which can produce profit but can be very much risky as one can suffer huge losses also. Proper business is well planned, well calculated, economically justified & actually profit based market associated activity which is not risky generally but also depends on the overall market trends and situation.
“Actual & Proper business following company” will act as a competitor for other business firms of same kind & nature. Any “Business Operator / Businessman” will play a Championship as a Challenger with other “Business Operators / Businessmen” which can be present in Local / Foreign markets. He / his company will become a part of “Free Market Economy Race”.
Just imagine a car race, you can win the race if your car engine, road grip, acceleration, brake, gear transmission system, car body and overall car parts are the best and working properly. The only thing is how you drive the car for winning the race. Your car quality and your driving tactics will play important role in winning the car race. If you are best driver then you can win the race from medium quality of car also. The same is happening in the business world also. If you make a company with good Structure / Management & you operate business in a best way then you can win or will remain in Free Market Economy Race. If you are best business handler then you can win or will remain in business race by using medium quality / capability of staff. Best businessmen know how to join & win business race with a small investment.
“If you don’t know the business properly then don’t start the business”
First learn that specific business in which you are interested, by getting some training. By discussing your problem with other businessmen, you can get some solution, and you can further improve your business management skills also.
In a real car race, a severe accident can crush the car and driver can die on the spot. In a real business race same thing is happening also. A severe business “Accident / Loss” can crush the business and any businessman can suffer a lot after the business accident / loss. That’s why always start any business or become a part of any business race after the proper arrangement of Capital & after getting proper training.
“Your control over your business is also very important which can keep you safe from unexpected business shocks”
Free Market Economy Race can easily crush low skilled, ignorant business race beginners and one can suffer from economic / mental shock for a long period of time. New & nonprofessional businessmen should avoid implementing the new business plans. They are supposed to affiliate themselves with good business institutes. They need technical assistance from good businessmen & they will require Consultancy Services from good business consultants before practically implementing their business plans / ideas. This can be heart-rending for them, but business accident / loss is a harsh reality as well.
“Business Float on Ideas & One can Generate Big Profit from the Low Investment”
Business has so many kinds & it requires “low / medium / high” investment before its start. Profitability depends on Product / Service requirement by the people and overall business competitors present in the market will affect the net profit value. New scientific products / services are paying much to their parent companies and this profit varies according to the product / service requirement in the global market. Major & famous companies are investing in the Research & Development sector and this investment is a part of better planning for best market oriented future results. So, big companies are operating with better planning for surviving in a Worldwide Business Race.
Closely observe overall procedures of different kind of businesses. May be you cannot start the business because you don’t have the required capital but better understanding of different businesses will open multiple success doors for you. You can choose better field for yourself in the future. Leave certain things on destiny after the well preparation.
“One can be lucky anytime, Knowledge itself is a Power”
Now Suppose You have a small capital and you can start any business which requires less investment. You know 2-3 businesses, and you want to invest in a right and appropriate business area so that you can earn more profit. At this stage you have to admit certain facts that generally any business doesn’t become profitable quickly. Time, patience and planned hard work is required for the success of any business. Prepare yourself and keep extra money in your Account so that you can sustain market shocks in difficult business situations. You can become a small scale manufacturer of any product or any service provider according to your business skills & capital situation.
“Your Business Steps are Important”
Now focus on that business area which you can handle in better style. There is a possibility that you have to face big competition in a selected business field according to the market situation. If competition is very big, and profit earning is looking difficult and will require more time, then stop your investment for the selected business field temporarily. You have still the options. You can invest in any other business field which is requiring almost the same amount or capital which you have or which you can manage easily. Now analyze the market properly and check the growth of different businesses. At this stage, you can contact business consultants also. May be you shortlist any other growing business field after some suggestion / discussion. Now, if you don’t know very much about the “Newly Suggested Growing Business Field”, then first learn and get some training before investing the capital in the newly suggested growing business field. Take your time, and invest after the proper planning and training.
“It is better to invest in Good Growing Business Fields rather than investing capital in such Business Fields which are facing big competition and are less Profitable also”
(Business Planning | How one can own the successful business???…)
Market study of any business is very important before starting a business, and this is also linked with better business planning. Try to judge business behavior before making any investment. There should be an acceptable correlation between your efforts and business profitability with the passage of time in a real business environment. That’s why properly focus on right business field selection. Your consumed time will not come back and that’s a reason good businessmen give importance to the time and say “Time is Money”. So, try to select best business field with perfect planning which will help you in becoming a “Best Businessman” also. Your composed nature will help you further in becoming a “Great Businessman”.
“One can earn More Profit in Less Time if Business direction & planning is Perfect”
Any business has specific life. Business life depends on the market factors & Product / Service requirement. Technological advancements are playing an important role in the current business world. Give importance to the product / service requirement & check the business life also before starting a business.
“Regularly Monitor your Business, if your Business is going in Loss & you cannot Manage the Loss Situation then Sale your Business before Big Loss & try to Recover the Maximum Invested Capital”
You are going to start a new business, or you are expanding your current business, the rules for good business are the same. Improve your business dealing, arrange required capital and reserve extra amount for handling difficult situation. Properly plan and manage overall business & closely observe market oriented situation. Hire good technical staff for the jobs and watch your business steps before making business deals. So, better business planning and management help in getting the best business results.
(Business Planning | How one can own the successful business???…)
(By: Jawad Syed)