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!
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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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