Sunday, November 1, 2009

7 Ways To Evaluate Your Business Plan

Hi Guys !!! Read it out.. I Found it really useful and accessible to get feedback!

The 7 Ways To Evaluate Your Business Plan

1. Look at your sales for income -- they should be going up !

2. Ask your clients -- Check to find out where they heard of you. Most businesses never ask this question and miss out on gleaning valuable insights into how clients select a service provider

3. Check whether your advertising and/or promotional activity produce direct response ?

but how to make sure your advertising does?

# Firstly, make sure you are advertising in the right media. Choose media to suit your selected audience. Be as specific as possible. And avoid rejecting options just because they don't look "exciting", such as trade journals that might have relatively small readership. Importantly, check with your audience to make sure they actually do read the publication.
# Use a strong headline that asks a pertinent question, or gives a solution-oriented statement.
# Include a clear call-to-action. Tell people what they should do. For example: Ring today for your free appointment; Ask for our free information sheet.
# Include multiple methods of contact. Phone, email, and web site are all important. Give prospects a choice of how to contact you.

4. Do your networking activities create new opportunities for you ?

5. Do your marketing tactics make it easier to sell your services?

6. Check your sales conversion rate.

7. Does your plan have a positive return on investment (ROI)?


Haider said...

nice one...

"Look at your sales for income -- they should be going up !"... hahaha... of course they should.

I have actually seen this question a lot "From where did you hear about xyz... newspaper, television, website etc" businesses seem to be working on this.

If I ever have a business, I'll definitely keep these in mind :D

syeda amna moudoodi said...

what is a sales conversion rate??

Rabbia Nasir Amin said...

of course they should be going up.. =D

well, its the number of sales made realtive to the number of contacts made.. if the sales conversion rate does not meet expectations, the marketer may revise the sales script, choose different prospect list sources, or make changes in the sales force. and hmm.. should have added Tht deTail in ma posT*