Primasia Corporate Services has
worked with thousands of clients, both International as well as in Hong
Kong and Asia. One thing we’ve seen amongst new and aspiring
entrepreneurs is that most struggle with putting together a written
business plan- and wondering if it's really necessary to have anything
written down. Having a written business plan will not only help you to
improve your ability to focus on the correct issues (like financials,
planning your marketing, operating costs and how-to’s, positioning
against competitors etc) but will also aid you in finding the right
partners, or investors. In short-- a written business plan increases
your chance of business success.
It's no secret that 90% of new startups fail. Follow these actionable business plan tips to be in the other 10%.
1. Design a short company overview document.
Starting
a new business means you’ll need to sell everyone on the viability of
your idea. Creating a single-page double-sided brochure will not only
engage people, but may prompt them to offer support and aid in moving
forward.
2. Create a short video promoting your company and/or idea.
You’ll
find that even traditional business people will be impressed with a
introduction video these days, just be sure to keep it under 2 minutes.
Showcase your business focus and idea, as well as your passion and
commitment to the project. The first 30 seconds of the video are the
most important, so put the key points first. Keep it concise, factual,
and think about including a prototype or customer to make the video
really special.
3. Prepare your business plan by creating a 20-page document.
This
is where you put in all the details and specifics about your concept.
How your company will position itself against competitors, finances,
etc. This document must cover all the information potential investors
will need about your new start-up, in detail. If you are an entrepreneur
who doesn't feel comfortable writing, there are many advisors who are
available to help, for a fee. Having someone review your business plan
is highly advised- they can ensure you have all the proper legal
disclosures and content.
Having
the business idea is typically the easy part, the hard work- and
deciding factor in your new companies success or failure- is in the
execution. By completing these three business plan elements outlined
above, you will stand out above the crowd and have a much better chance
of success.
Get ready to expand your business successfully, with Primasia Corporate Services. Email us at info@primasia.hk or call 2882 2088 today!
Connect with Primasia Corporate Services Limited
Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong
Website: https://www.primasia.hk/
Twitter: https://twitter.com/PrimasiaHK
Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.
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