In a more broad sense, business planning helps businesses of all sizes to deal with the day-to-day needs of the organization by forcing the owner to weed through the operations of a typical work day. Business planning will assist you in understanding how to effectively market your business, how to understand and plan for financial stability both now and in the future, how to carry out your daily operations with a necessary level of routine, and so forth.
While it is always exciting to try to realize your dream in your mind and to project that image into your future, the realization that barriers, stumbling blocks, and necessary "to-do's" exist. These subjects range from broad to very specific, and can include questions such as; Who is my ideal client?; What would be a good name for my organization?; What is my unique selling proposition (USP)?; How will I balance my work life with my personal life?; How big do I want this business to be; Do I have the necessary resources? If not, where can I get them? If so, how do I most effectively utilize them?
Key Market Strategies : Market strategies are created after extensive market research and analysis. The useful thing about writing market strategies is that it forces the business owner to understand the target market and become familiar with all aspects of the market. This also helps to define the target market and will help the business to position itself in order to gain sales.
So, in the end, I encourage you to realign whatever preconceived notions you may have of the business planning process and view it not as a daunting task or a necessary evil of running a successful business. Instead, view it as yet another opportunity, the chance to help make your dreams into a reality by mapping out the needs of your business, your customers, your employees, your suppliers, your community...and yourself!