By Raul Gorrín. To succeed in business you must create a plan with goals and objectives and then be willing to execute that plan through a phased implementation schedule. There are several key planning factors for competitive success in business. To be able to stay ahead of competition, you need to convert each of the factors of the business plan in an executed action.
When creating your business plan there should be clear focus on key areas of your business. According to Birnbaum Associates, consultants in business strategy, a business plan must be based on specific issues. Proposed for example increase revenue by 10 percent annually during the first three years of its business is not an accurate focused statement. You must use this target as a general statement and then create lists with very specific actions and steps that will help you achieve that goal. You will not be able to compete in the field if you only use general terms in a business plan.
Market share
Capturing market share is one of the most important factors of a business plan. You and your competition are trying to reach the same goal. To succeed you need to have some element that separates you and makes you stand out from the competition. Try to find out the areas as product support, features and product updates that are relevant to your industry. Look what their comparative advantages in relation to other companies that are competing in their sector, and create your advantage, it can be based on pricing strategy, product availability and online support.
Customer service
One of the key planning factors in customer retention and maintaining a high rating on consumers is a good customer service. An efficient customer service does not happen by accident; It is the result of careful planning. Create a training program that will allow your customer service representatives to continually hone their skills helps a lot. It is advisable to develop a survey system that allows you to reach your customers in order for you to get feedback that would answer important questions about areas such as product support, delivery or satisfaction guarantee. To stay ahead of competition, you need to know what your customers expect and how you can keep them satisfied.
To stay ahead of competition, you need to ensure that the product quality is high. A defective product costs you money on repairs or replacement. This failure also costs time and money to its customers. Develop a standard product inspection that ensures that each product works perfectly before leaving your company. The goal is to create a manufacturing standard that offers a return on investment to its customers through characterized by durability and reliability products.
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