Your Business Plan: Six Items to Make Sure You Incorporate

Kandace Heller

October 23, 2013

	Not rated
	Rate:

1. Keep a detailed record of your expenses.

A huge reason that 90 percent of small businesses fail within the first five years is because they do not appropriately prepare for their federal income tax returns. You need to have detailed records of everything that you spend money on in order to counteract any audit that you may face. Be sure to seek out the advice of a reputable tax attorney as well as a tax accountant before claiming any deductions for your business.

2. Make sure that you have a mobile website with responsive technology.

Having a mobile website is quickly becoming a necessity rather than a luxury for a company that is looking to build and maintain a market. People are doing more commerce on their smart phones than ever before, and this trend is only going to increase as telecommunications companies continue to infiltrate emerging markets.

Simply having a website that is optimized for a computer is not enough anymore - these websites often do not translate well on the smaller smartphone screens. Fortunately, the cost of optimizing your site for mobile viewing is constantly decreasing.

3. Make use of virtual assistants.

There is no excuse for not having the help that you need even if you are running a one-person operation. There are virtual assistants that will take care of your administrative work for a fraction of the cost of employees. You can also forego the cost of office space when you take advantage of virtual assistants.

4. Create attention for your business by incorporating original and unique promotional items into your marketing campaign.

Have you tried promotional beach towels to advertise your business? Custom towels or other unique and useful promotional products are a great way to advertise your business without having to hard-sell your audience. Choose something that fits your business, imprint it with your company logo and find great places to distribute these treasure chests of advertising prowess.

5. Analyze constantly.

In order to create a successful business, you must constantly analyze what your customers are telling you as well as the performance of your promo items and other marketing techniques. There are many ways to quantify your analysis – there is no reason to guess about the wishes of your audience anymore.

6. Incorporate a business plan.

In order to gain the respect of potential investors, you must show them how you plan to gain their money back if they invest in your business. Create a business plan that you can show to people in order to obtain the best results from investors.