Creating Your Plan of Action
Updated: Apr 20, 2018
Once you have identified the need for your business, your next step is to create a plan of action, and then follow it. When creating your plan you will also want to form your mission statement. In addition you also need to list your objectives for your business.
When it comes to objectives you want to think about what the current gaps are in your industry. Then figure out how you will fill them. Of course you are not going to be the only company filling this need or niche. Look to other businesses and see how you can improve on what they currently do.
Ask yourself the following questions:
How can I improve on the quality of the actual product or service?
Is there a more unique or exciting way to deliver this content?
Can we reduce the cost of making this product?
Can I improve on customer service?
What can I expand on to cater for future needs?
This should provide you with a good overview of what steps you need to take for your business. Don't forget that it is important to come up with a mission statement at this point too.
Your mission statement should consist of just a few short sentences. They should convey what your business is about and this includes what you offer, your prices, your quality, your position in the marketplace and more. Try to include if you use technology in a particular way too.
To sum it up, your mission statement is to clarify the type of business you are in, along with your goals and objectives. It is not always easy to write your mission statement. But as you go through this process it can also help you identify just what your business is all about. Crafting a good mission statement could open your eyes to something you are missing, and take your business in a new direction.
With any plan of action you want to be flexible and be prepared to try new techniques when presented. As with any business your growth and market presence may have you changing course at any time. Being open to changes will only help you grow a healthier business.
Your next steps should be to take the time to write out your action steps and be prepared to take action. In the meantime, work on your mission statement until you are satisfied that it speaks for what your business stands for.