Smart Tips for Developing a Business Strategy

A business plan is like a road map of success for business people. Can not be separated from the status of beginners, juniors or seniors, whose name is a businessman certainly must endure alias have a strong mental spirit and positive in dealing with all kinds of business challenges.

To build a successful business you must have a business plan and strategy that is accurate. A well-made business plan will have a great chance of increasing business success. A company that has and does good business planning will succeed more quickly than a company that does not have/carry out a plan.

So what exactly is a business plan? How do you make a successful business plan? What needs to be prepared? Answering all the questions is not easy, but it is the main thing you need to do.

A business plan is like a written development concept that contains details from an overview of financial planning, management, development, achievement targets to marketing strategies. The business plan outlines the direction, goals and strategies of the company for the short, medium and long term. For a business that you build and manage to thrive, it must have a strong foundation. Recognize the 5 important components in developing a sound business plan and strategy:

1. Have a Clear Business Description

Whatever your business, start by having a description that is clear and easily understood by everyone. Business description or description that explains the form of business, products sold or services offered, profit and loss of products / services sold, prices, company operating costs, business targets, to the work system that is in effect.

Tips: Develop a Vision, Mission and Strategic Plan about your company. What are the goals to be achieved and the strategy for achieving them. Describe the company’s current and future position, target market, competitive advantage, business location, core management, forms of business, management concepts that are run and so on.

2. Analyze Business Competitors

Doing a simple analysis from your business competitors can be the right way to create a better business strategy. Make simple observations and analyzes to find out the factors that are the strengths and weaknesses of your business competitors. Learn from the experiences of others’ successes and failures, so you can create your own version of a success formula and business strategy.

Tip: Make an analysis note of your business competitors, observe and write down the strengths and weaknesses of their business. Then analyze what things you can learn and apply to your business.

3. Targeted Marketing Strategies

The marketing strategy reflects how much business potential is to be marketed successfully. The tips, the strategy must be planned in full, starting from product promotion, cost, place, time, product target to the promotional media to be chosen. Always apply a 4P perspective (Product, Price, Place, Promotion) so that your marketing strategy is always successful.

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Tips: Make a Marketing Plan that includes an explanation of the selected market share, marketing methods and promotions that are made in accordance with the target market, to a budget plan for sales, prices, distribution, and other costs.

4. Have Financial Statements

In building a business, finance is important and should not be underestimated. Learn simple ways to keep financial records of your business neatly. Try to differentiate between business and personal capital. Honest and transparent in managing your business finances will be a business capital that can bring your success.

An important element in making a business plan is financial management. You must have a way to manage your budget to stay efficient and run smoothly. Learn also how to make a budget plan and how to minimize other costs. By having regular financial reports, this can be your capital later if you need additional capital from financial institutions.

Tip: make a financial statement that explains the financial cash flow statement this year, profit expectations, capital requirements, operational costs, additional costs, reserve funds.

5. Maintaining the Quality of Products / Services

In business, make sure you always give priority to the quality of products or services offered to customers. In order for your business to grow rapidly, have a large profit and have many customers, you must maintain quality.

For example, you have a chicken noodle home business, many of your loyal customers who love chicken noodles and often stop by your place because they sell delicious chicken noodles at low prices. But from the business point of view, you are thinking about how you can stay profitable even though the price of chicken noodle staples is soaring. Make a strategy of increasing prices gradually but still maintaining the quality of the taste and service of your chicken noodles. Customers will continue to arrive to buy your chicken noodles when customers are satisfied with quality products and services from you.

Tip: Conduct a risk analysis that you might face in the future and anticipation to deal with it related to customer and company satisfaction.

Business people who invest time and energy in preparing business plans intelligently are more prepared to face the risks of business competition. Although the business plan does not guarantee 100% of one’s success, but this way will be able to create opportunities for success.

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Know Your Startup Business And Get Started

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Understanding startup is a company that has just been built or in a pioneering period, but does not apply to all fields of business, the term startup is more categorized for companies in the field of technology and information that developed in the internet world.

The types of business can be varied, for example application developers, payment systems, services, commerce and so on.

How about his luck?

Actually, this startup business term has been around since the late 90’s, and one example of a well-known and successful local startup is one of which we all know, Kaskus. With the continued development of the internet world until now, more and more other business people are also interested and start establishing startups.

That way, it certainly does not rule out the possibility that in the future other successful startups will also emerge because they are driven by the growing popularity of cyberspace in our society today.

Examples of Local Startups That Are Now Popular

Besides Kaskus, another example of a local startup that has now been successful and is quite popular among them is

Bukalapak

Bukalapak is currently one of the largest buying and selling sites in Indonesia, founded by Achmad Zaky who is from Sragen, East Java.

One of the services that makes this startup preferred is the existence of a secure payment system for transactions, where payments from buyers will not be directly received by the seller, but instead are temporarily accommodated in Bukalapak, after the goods are received properly, then the seller can make a disbursement.

Gojek

There is no doubt, of course, all readers already know about this startup. Go-Jek is one of Indonesia’s fastest growing and most popular startups. Its main fields are in the business of transportation and courier services.

Tiket.com

As the name suggests, Tiket.com is a startup that offers easy online ticket reservation purchase services. Founded in 2011 Tiket.com is now planning to expand its business to outside Indonesia. Among Hong Kong, Australia, China and Malaysia the region will be targeted to expand its marketing scope.

That’s a little review of the understanding of startups and examples of Indonesia’s business, hopefully useful.

Know the Definition of Startup Business Is and Its Development

Startup business is a business that is very suitable to be run by you who like challenges. Most of you will also know the word ‘startup’. Maybe most of you still don’t know what startup is and how it works from a startup business that is now increasingly being talked about by many people.

Startup is one of the businesses that are glimpsed by entrepreneurs with desperate capital to be able to pioneer a company and developed with all their might. Starting a startup company is indeed very vulnerable to a failure or it can be said that the possibility of a startup business can be very small.

However, this would be a challenge for entrepreneurs. Establishing a startup business is indeed very suitable for you who really like challenges and also like new things. Nevertheless, this startup business is very much needed creations and innovations from each person when they want to set up a startup business.

Creation and innovation are important roles to make a startup business more successful. Not only that, you also cannot give up easily and also must be persistent. If you want to set up a startup business, then make sure you also know what a startup is and how to start a startup business for your reference before jumping into it.

Understanding Business Startup

What is startup? Maybe most of you also don’t know and understand what startup is. The word startup is an absorption word that comes from English, which means that it is an action or process in starting a business or a new organization.

But based on wikipedia, the meaning of the word startup is a word that refers to a company that has been operating or running recently. For this company, most of it is a company that was newly founded and also in the development phase and also research in order to find the right target market and get a sizable profit.

The term of this startup is more classified for companies that work in the fields of technology and information and grow in the internet world. For this type of startup business also varies, for example, a payment system, the development of an application, services, trade, and also many other types of business startups that you can find.

While in France itself, the development of the internet world is also high which makes the startup business more easily accessible. Even from several sources also say that the number of local startups now reaches thousands and is increasing every time.

Startup Business Characteristics

The use of the term startup for several things that are closely related to the internet, websites, technology, and others is happening is none other than the term startup which began to be famous even internationally even in the dot-com period. During this time, many dot-com companies were jointly established.

Even then there were lots of individual businesses releasing their business ideas by creating a personal website. When viewed from the understanding of startup business, some new companies also have not found what field is right for the business. Some sources also found several types of characteristics of startup companies.

One of these characteristics is establishing a startup by a company that has been established for less than 3 years. In addition, the company has less than 20 employees. The company can be called a startup as well because the company is still under development.

In addition, a company can be said to be a startup if the company operates in the field of technology and the products made are also digital applications. Generally the company will work using the website. Other characteristics are companies that have revenues of less than 100 thousand US dollars or 1.35 billion rupiah annually.

Different Startup Business With Online Shop

Now, startups are also growing and getting bigger. But not a few also say that the online shop that uses the website is a startup business. The startup business has its own criteria why it can be called a startup. Not all businesses using websites can be said to be startups.

Not a few people misinterpret an online business that uses ‘. [Dot] com’ is a startup business, but, in fact, this perception is still widely circulated in the community. In fact, startups and online shops are two very different things. Although you can find many online shops or online businesses using ‘. [Dot] com’ or websites, these businesses cannot be called startups yet.

In addition, another meaning of startup is as a solution to solve problems in society. For example, regarding online transportation that can be a solution in society. The existence of online transportation makes it easy for people to order public transportation that is fast, convenient, and also of course safe. With online transportation, tantu can help the community.

To make it easier to differentiate online businesses from startups, then you can see what are the characteristics of a new company that can be said as a startup company, for example, have innovative and disruptive ideas. In addition, the company also has a fairly rapid business development when compared to other types of companies, and there are many more characteristics of the new company that can be said as a startup.

Building a Startup Business

If you work and run a business with others, it can make you feel relieved. But even so, it will be more moving, fun, and proud if you can set up your own business. Because by setting up your own business you can also get many benefits, both for your own life and for the lives of others around you.

If you create your own startup business, then you can also provide new jobs to others. In addition, you can benefit yourself. You don’t have to look for a job with another bigger company. Even though when you start a startup business fails, you should not give up right away.

Starting a startup business is one way for you to get the best solution for the community. So it’s not just you who benefit but also other people. If you experience failure, then you can start again and fix the failure you have experienced. You can see what you did wrong that made the business fail.

When you want to start a startup business, make sure you are able to compete with major vendors that already exist. So, you have to prepare what distinguishes your product from other people’s products even though both are one type of business, so that your product is more attractive to others. You also need to be able to market your product properly.

Startup Development in France

In France, the development of startups is also quite rapid. Every year or even every month there will always be a new founder or owner of a new startup business that appears by offering its products. There are more than a thousand local startups in France today. This is certainly a result of the use of the internet of France society.

The existence of the internet can be used to set up a startup business. In fact, there is a research that says that internet users in France reached more than 70 million people in 2013. That way, you can imagine the number of internet users in 2019. In addition, the consumptive power of France people is also a factor in the number of startups popping up.

The increasing income per capita of people in France plays a role in influencing the development of the digital industry. In France, this business is also classified into three categories of startups, namely educational application startups, trade startups such as information and e-commerce, and game creator startups.

For types of game startups and educational applications, they have the most potential and more open market in France. Because, the process for making games and applications for education is quite easy. Even the development of smartphone technology and social media now also makes the development of digital games even greater.

Meanwhile, if you are creating an e-commerce or information startup, the challenges in Indonesia itself are also still large because the use of credit cards in Indonesia is not too much. Even only certain people who use credit cards. However, news or information with a variety of themes will develop more rapidly.

Startup Company in Indonesia

In Indonesia, many startup businesses are quite popular among the public, for example, open stalls, gojek, Tiket.com, and several other startups. BukaLapak which is now one of the biggest buying and selling sites in Indonesia was founded by Achmad Zaky from Sragen, East Java.

The feature that makes this startup popular is the secure payment system, because payment money is not directly received by the seller, but is accommodated first by the startup company until the buyer receives the item. That’s almost the same as other marketplaces today, like Shopee.

In addition, there are also Gojek and Grab. Of course you already know Gojek and Grab, the fastest growth among other startups in Indonesia. Even Gojek and Grab are very well-known, both types of startups are engaged in transportation and also services for couriers.

Next up is the Ticket.com startup. As the name Tiket.com provides you with purchasing services and also online and easy ticket booking. The startup business in Indonesia has experienced many developments and is growing rapidly. You can find lots of startups in Indonesia that can make it easier for you. A startup business is a business that can give everyone the benefits and convenience.