Having your own business is more than just creating a job for yourself. You will have to manage the basic roles of marketing, administration and sales. You must know which parts you can handle yourself and which parts you’re going to need help with. The time you spend in your business should be based on where your time spent can produce profitability based on operations development. Every microbusiness owner may carry out 90% percent of the workload – this requires solid preparation.
Business planning is a continual process of gathering and analyzing the information necessary to achieve a full understanding of the business situation. Then use this knowledge to periodically update the goals, strategy and tactics that guide the organization toward sustainable profitability. Throughout the year business planning activities are necessary in order to keep the plan current and to monitor the effectiveness of its implementation. Time spent well in each area of the business will produce overall business growth; so remember to dedicate time to all areas of your business.