Business Development

    Jan 1, 1970 12:00 AM 3 min read

    Developing a business ! 

    Its not an easy job getting profit out of a buisness startup . But these tools will definitely help you give an insight for a better business plan. 
    You have two options....
    1.Hire a sales man,  a marketing peraon who will look for the customers of your company 's product or services and inspire them by giving special discounts and offers. 
    2.Developing products or services that in it self will attract the customer's need and fulfill his/her urgency of the moment and you won't have to work much harder to hire many sales man or spend lots of money in advertising or rather you will do that only when you want to expand the horizon of your market.
    Marketing ....
    Once the product or services start selling,  the second thing to keep in mind is to keep the existing customers intact and expanding the market to more and more people and that comes under the process of promoting it through marketing.... 
    What marketing is and how is it used ? 
    There are 4 major aspects to marketing.. 
    1.Product - To ensure that products  are ready for selling.
    2.Price - Set it at a level comparable to competitors 
    3.Promotion - Using brochures,  ads and information to generate interest.
    4. Place - How and where product are distributed to sell. 
    SWOT analysis......
    One of the important things that a company can do to grow its buisness is SWOT analysis , (i.e  to list down its streangth,  weaknesses , opportunities,  and threats). 
    Streangth - Things that your company does well , qualities that separates you from your competitors , internal resources such as skilled knowledge and staff. 
    Weaknesses - Things that your company lacks,  things that your competitors does better than you , resource limitations.
    Opportunities - Undeserved market for specific products , few competitors in your area , emerging needs for your product or services.
    Threats - Emerging competitors,  changing regulatory environment , changing customer attitude towards your company.