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The Most Important Question to Ask Yourself and Your New Business

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It’s not is my price low enough? Or if it is reliable enough. Do I offer enough features? Am I on the right social media channels? Is the website cool enough? Am I promising enough?

No, the most important question in marketing any new product to someone who hasn’t purchased the item from you before is, “Do they trust me enough to believe my promises, and spend their money?”

Without that, you have nothing.

If you have brand awareness and an advertising presence, but people haven’t bought from you before, it’s likely they don’t trust you as much as you would hope. If you are extending from one business to another, it could be that your first business was just too far a leap for your customers. Don’t try to jump from selling crackers to cars! But, if your new product is solid but sales aren’t being made, look for trust issues. And don’t be shy about letting your customers know exactly why they can and should put their trust in you.

Earn trust, earn trust, earn trust. You can worry about everything else, later.

What a Professionally Written Business Plan Can Do for You

Think of your business plan as a sales document. It needs to convince readers that your new idea has the potential to be successful. Your enthusiasm, dedication and confidence in the project should be evident to anyone reading it. You should want your plan written as if the reader is not familiar with the type of business you are starting. The most effective business plans are dynamic documents that evolve as your business grows and changes. Your plan should reflect the current reality of your business, the market realities in which it operates, and your present and future goals.

If you’re starting a business, a business plan can help you identify strengths, weaknesses, opportunities, and threats. It should also be written so that your ideas and capital can be economically turned into a viable business. And last but not least, it must be written in a way that can secure financing from lenders and investors.

If you’re managing an existing business, a business plan should help you develop accurate financial forecasts and compare your planned performance to your actual performance.

If you’re ready to grow your business, a business plan is a must for raising capital to expand, creating a strategy to manage your growth, and also mitigate your businesses risks.

Also, when it is time to exit your business, a business plan is there to help you establish a timeline for the transition process. A professionally written business plan will be there to identify financial and regulatory requirements and develop a plan to transfer ownership, sell your business, or close your business.

A business plan is an invaluable tool for every business owner, whether you are just starting up, have been in business for years, or are ready to grow. A well written and researched business plan is the final document to communicate your vision to your employees and all external parties.