Would you believe me if I told you that in 2019, when most people hear the phrase ‘business plan’ they think of a frumpy old word document 50 pages long buried deep in a dark file room, with no other purpose but to collect dust?

I often mention the face that most brands nowadays compete on a global market. As the internet and communication technologies become more advanced, access to new markets and customer bases have become the norm. This access comes with it’s own set of challenges. More brands accessing more markets mean stiffer competition, more noise (communication) and inevitably smaller market shares.

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One in three clients who first approach me regarding a business plan is uncertain whether they actually need a business plan, a business proposal or a business presentation or pitch deck. Most often, the consultation process begins with helping the client to identify their needs and my role in facilitating the business planning process. Indeed, there are times when the client’s needs are outside the sphere of niche services I offer, however, the exchange usually ends with the potential client being clarified regarding their needs. So, this article is designed to help the business owner decide which is the most suited to their needs.

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Business writing is a skill that is necessary but constantly overlooked. It’s often misconstrued that basic writing and mediocre editing are not significant when presenting important information or documents, much to the contrary.

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For a business or company putting out information, a most critical aspect of any publication or document is concise, direct and a clear representation of the information being provided. 

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The business model of your business is the structure that you plan to use to generate revenues. Choosing the right business model for your product or service is instrumental in capturing your business’ true revenue generation potential by extending product reach. It is important to also mention that many businesses employ several different business models, either separately or in unison to facilitate several revenue streams.

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Have you ever tried to write a business plan? It’s not the easiest task for someone with no experience in business (despite what the draft articles on the internet say). If it were, business plan consultant wouldn’t come with a US$2,000 – US$15,000. (Don’t worry, I don’t charge that much for simple, standard plans.). Most entrepreneurs taking the time to write a complete business plan understands the usefulness of same.

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Many individuals and budding entrepreneurs make the mistake of sticking too rigidly to their business plan or simply failing to realize it needs updating. It’s a common trap to fall into. While your business plan is a guide,  it isn’t set in stone and shouldn’t be treated as such. You must be flexible and adapt to realities versus perception, changing markets, economies, needs and environs etc.If you are flexible and making strides on opportunities that have been presented since writing,  updating should be done to reflect that.

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