A business plan is a formal and written statement that consists of the goals of a business and how to achieve those goals. Unfortunately, many business people or entrepreneurs fail to make a business plan in their business. Thus, this will have a bad influence on their business in the future. Well, this article will also discuss some fatal mistakes that can destroy our business plan and of course we need to avoid it far.
10 Fatal Mistakes that must be avoided from a Business Plan
The right business strategy or business plan will certainly lead us to success in the business world. However, what about the wrong or incorrect business plan? Will that not be a problem for the future of our business? NO! of course this will be very dangerous for every business movement. The wrong business plan will direct our business to ruin.
To avoid undesirable things in business, we need to avoid 10 fatal mistakes that we will explain in this article. According to the allbusiness website, the fatal mistakes we need to avoid are as follows:
1. Blind with True Target Customers.
One of the main goals in business is to create products and services that can be the right solution for the problems faced by customers. However, would it be impossible if our products and services could overcome all conflicts and complaints faced by everyone in the world. Therefore, in a business plan we need target customers, where we make target customers more specific than before.
Those who enter our target customers are the people whose problems are the focus of our work. So, don’t ever set up a business without knowing who will be our target customer.
In this case, we need to know our potential customers from the inside out by understanding the demographics and characteristics of our potential clients. Why is having a target customer so important? By having a target customer, every marketing effort we provide will be carried out effectively and efficiently.
2. Not Caring About Customer Interests.
The second fatal mistake that is often made by business people is to ignore what is in the customer’s interest. For some people, business is an activity to get as much profit as possible, without having to focus on the interests of customers. This is a form of wrong thinking and can bring our business to ruin. The art of doing business is to help solve the problems of others, although other goals are to make a profit. However, that does not mean ‘profit’ is our main focus in business.
3. Not Focusing on Prospects.
It’s okay if we want to promote our business on websites and other social media accounts to attract the attention of our customers. However, we must not be more dominant in describing “who we are?” on websites and social media, without informing potential customers about “what value can we give them?”
Customers will feel uncomfortable and even lazy with products or services like this. Again, business is about customers, not about their salespeople as a whole. Therefore, we need to attract the attention of potential customers and understand the value of what they need from a product or service. So, they are more familiar with and interested in our products and services.
4. Selling Products or Services to Foreigners.
Still remember not with our mother’s advice as a child, “if there are people who offer sweets, don’t take them and eat them, that’s dangerous!” Humans are naturally created as someone who does not easily trust new people and has suspicion with strangers.
As with business, we do not recommend Career Advice partners to sell your products and services to strangers. Believe me, we will have twice the difficulty in promoting goods with strangers, compared to people who know us and we also know them. A good business plan is to focus on promoting products to people who are already familiar to us.
5. Cannot Track Data.
Promoting products and services through social media is a good business plan, but if we can’t track the data, this will be another problem. We must be able to track data from the results of paid promotions that we do on social media. If we are unable to do this, it is like wasting money on things that are not very useful.
6. Place Paid Advertisements, but Don’t Have the Right Referrals.
Yes, right. Installing paid ads is cool, but we also need to make the right landing page, that is, optimize conversions. In addition, we also need to install remarketing pixels to target the website visitors we want. In other words, metrics will not provide any meaning without a clear conversion path for our clients and customers.
7. Generate Too Much Content, but Little Promotion.
Let us think again, why would we create content with a large amount, but we give a little effort in promoting it? It’s the same as wasting our time, energy and money, right? Therefore, we need to avoid this error. Do not let all the effort and effort we put into making content into a fruitless work.
8. When Marketing Products, We Don’t Make Buyers Personas.
Personas buyers are a method of understanding target customers. If this buyer’s persona is done correctly and correctly, then we will send the right marketing message, avoid making false advertisements and help us to find marketing errors early before it’s too late.
Then, what if we don’t include the buyer persona in our business plan? As a result, our business strategy will not work well.
9. Don’t Have Consistency.
No matter how great the business plan that we apply, if we don’t have strong consistency, then all of these marketing efforts are just in vain. That is why consistency is needed in every business plan that we make.
Consistency in a business plan also indicates that we must maintain the same language, look and feel of the same brand. With the consistency we apply, we will have coherence and harmony that builds a good image on our product brand or service. So, don’t forget to keep consistency, yes.
10. Don’t Care About Customer Service.
Can you build a business with good products and services, market it on a large scale and implement other business strategies, if in the end we don’t care about customer service?
Customers are the King and Queen, if they complain or experience difficulties, the first person who has the obligation to calm them down is US and only we can provide solutions to their problems. Why? Because the problems and complaints they have are related to our products and services.
Many customers have run away and moved to the competitor’s products, when they no longer get satisfaction and good customer service from the product they chose before. So, don’t let this happen to us, fellow readers.