4 Inside Secrets For Planning A Successful Business

February 5, 2013 |  by  |  Linkedin Blog

Love it or hate it business social media networking is here to stay and it has changed the way many business planning specialists interact with the marketing personnel of small, medium and large size business enterprises.

With over 10 million business members in the UK, and nearly two hundred million business members world-wide Linkedin has provided a new marketing platform for business owners seeking to expand their business decision making connections in order to turbo-charge their business growth.

At www.elinked.eu we help hundreds of business owners position themselves and their businesses on Linkedin. Our aim is to make them so business attractive that lots of business decision makers seek them out as a first level connection to them.

This flies in the face of what most business owners set out to achieve when sending out the initial three thousand business connection invitations provided by Linkedin. Most business owners waste their initial connection invitations in the hope that some people will connect with them.

We believe there is infinitely more added value benefit from a new business connection if he or she has taken the time to research your www.linkedin.com profile and decided you would be a great asset to their business connection list.

Given that an estimated 57% of Linkedin’s 187 million members are considered to be business decision makers, then this statement should be considered a no brainer.

One of the most frequently asked questions we receive at www.elinked.eu is how new business owners can plan to provide a higher than average rate of business success. Although this subject requires a much more in-depth response I have provided the following 4 Inside Secrets For Planning A Successful Business as a helpful guide.

Inside Secrets For Planning A Successful Business

#1 Businesses Opportunities

Every business planning consultant understands that businesses opportunities are only any use if effective business planning is implemented to capitalise on the opportunities presented. Business consultancy firms are often retained to help develop these business opportunities by providing access to new business grants, and/or business loans specifically provided to enhance business growth and development.

A professional consultancy service provides an effective platform for planning a business for long term profitable sustainable growth.

Inside Secrets For Planning A Successful Business

#2 Business Planning

General George S. Patton said “a good plan executed now, is better than a perfect plan executed next week.”

This statement rings relevant when planning a business marketing strategy which incorporates business social media marketing from an online group like Linkedin. A business planning consultant looking at achieving profitable business growth usually looks beyond the immediately apparent businesses opportunities and places clear focus on identifying the business development plans required to ensure long term sustainable business success.

These business development plans and strategies will most likely look to identify regional or national new business grants & business loans.

Inside Secrets For Planning A Successful Business

#3 New Business Grants

Every business planning consultant recognises that all businesses opportunities presented to any business owner require careful business planning.

Just because a financial grant or loan is available does not necessarily mean that the business owner should reach out and grab it. In many cases operating a competitive business by utilising grants and loans without careful ‘big picture’ business planning can be a recipe for disaster.

The city of Liverpool in the North West UK was awash with European grant funding for a number of years and hundreds of businesses jumped on the band wagon. This grant aid allowed them to slash the cost of their professional business services to clients by as much as 50%.

Although in the short term this obviously made them very business competitive compared to their business competitors there was a terrible price to pay for those business owners who failed to plan their businesses operations beyond the end of the available grant funding.

The down side was that as soon as the grant funding ran out many businesses had to increase their prices by up to 50% to cover their operating costs. Many of their existing clients failed to sympathise with them and refused to pay the increased service cost.

In cases like this grant funding short only be considered as a ‘bonus crutch’ to help you develop your business for long term sustainable growth.

Outsourced consultancy is generally a good route to market for sourcing new business grants.

Inside Secrets For Planning A Successful Business

#4 Business Loans

It is rare for any business planning consultant to consistently exceed performance expectations without adequate financial resources. One of the 4 inside secrets of planning a business to exploit any businesses opportunities is to identify business consultancy firms who have access to business loans for business development.

Consultancy may also have access to new business grants which are typically provide added value to your business planning. Business loans form the backbone of many businesses seeking long term sustainable business growth.

When planning a business to grow on the back of pre-identified businesses opportunities a new business grant can provide a stepping stone for new age entrepreneurs who intend to jump on the bandwagon of entrepreneurship.

Numerous business opportunities exist for entrepreneurs who are ready to use innovation as the key feature of their enterprises and offer value added products and services to customers.

Every business planning director entrepreneur needs to identify the opportunities and the needs of the customers and offer the right products and services to the customers. One of the most important points that needs to be remembered is that the business entrepreneur needs to be passionate about the business planning in order to successfully operate and grow it in the long term.

Raising capital for new business is also becoming easier with multiple options now available in the form of venture capital, private equity and low cost borrowings. However, one of the most lucrative forms of capital is the business grant provided by many federal and state governments.

Some Linkedin International Business Guru suggest new business grants offer the best opportunity available for today’s entrepreneurs and encourage aspiring entrepreneurs to make use of this opportunity to set up small businesses and develop them with the right business development strategies.

Many a business planning specialists outsource consultancy for the provision of special business training courses to young entrepreneurs on setting up small businesses and on the process of obtaining new business grants and business loans.

Business consultancy firms also provide vital assistance, business planning and business development consultancy services in devising correct business strategies. It is important that entrepreneurs make use of available businesses opportunities and business loans capital to setup small and lean enterprises and make them grow into large businesses.

Business Planning And Business Loans

At www.elinked.eu we are often approached by business organizations for advice on different aspects of business planning and we always emphasize that every business needs to do a lot of groundwork while devising a business plan before approaching the financial institutions and bankers for business loans. Business planning and business loans takes a closer look at the process of devising the detailed business plan and its importance for raising business capital.

Business planning should consider all aspects of business including projected growth in revenues, sales pattern, geographical spread of customers, logistics costs, inventories, investments in capital equipment and cash flow. With the slow improvement in the liquidity situation, bankers appear happy to lend to businesses provided the business plan is well documented and elaborately explains how the organization is going to deploy the funds it intends to borrow and how it plans to repay the borrowed funds.

Before lending money, every banker would want to know his customers well and therefore the business plan document should ensure that it makes the bankers understand the business correctly. Bankers would also want to know the financial background of the promoters of the business in order to assess the risk level of lending. Hence the business plan document should also include financial background of the promoters and may also insist on records of tax returns of preceding years and also bank statements.

In addition to these points, the business plan documents may also include other relevant details like how the company will achieve its business development and growth objectives and the succession planning details in the event of the unfortunate death of the chief promoter. Banks will also be keen to hear about any business consultancy firms associated with your company. They will also require proof of any new business grants you may have obtained.

In the interest of the business organization, it is also necessary that the business plan documents the budgeted spend on different business areas and assets. It may be necessary for the business planning director to go through Business training courses offered via outsourced consultancy or avail the services of business consultancy firms and business management consultants to complete the business planning and business development process meticulously.

When planning a business the 4 Inside Secrets For Planning A Successful Business listed above will enable you to look towards long term sustainable business growth as part of your strategic business growth and expansion plan.

They are especially relevant to any business owner looking to achieve long term sustainable business growth through adopting Linkedin business social media marketing strategies.

Dr. Mark D. Yates

Dr. Mark D. Yates is a global #1 LinkedIn consultancy business growth specialist, LinkedIn speaker, LinkedIn Sign & LinkedIn training instructor & CEO of Link Business Marketing Ltd. If you need to hire a LinkedIn expert to help you gain profitable business growth, contact him. Tel: UK 0203 390 2013 Email: drmarkdyates@aol.com, connect with him on LinkedIn & Twitter You can view & download his dynamic independent LinkedIn training program at: linkedinswat.co.uk.

Recent Posts

Steve Jobs on fear …..

09/11/2017  |  No Comments

Although we're only born with two fears – the fear of falling and the fear of loud noises – research... more

Pig wrestling …..

09/04/2017  |  No Comments

Whilst on holiday in the US I got chatting to an old Kentucky farmer named Bo who told me, "Never... more

LBM Weekly – 24/08/2017

08/24/2017  |  No Comments

Link Business Marketing are dedicated to helping our customers leverage LinkedIn for successful business growth. Our experienced team of LinkedIn... more

What is Business Growth and How Can You Leverage LinkedIn To Achieve It?

08/17/2017  |  No Comments

Business growth is just what it sounds like. When a business gains a certain amount of success, it will subsequently... more

Like us on Facebook: Link Business Marketing