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Tips for Reassessing Your New Business Idea??

(@Anonymous)
New Member

Hello Friends

1)Revisit The Business Plan:Your business plan is your guide to your small business idea success. Although much thought and consideration went into your business plan, you must remember that it is a theory to success, not a guarantee. In the case of a new small business idea that didn’t live up to its believed potential, it is wise to pull out the plan and think it through again.
2)Identify Alternative Markets:A new small business idea may be a great idea, but unless it is directed at the correct markets, it will not succeed. A new idea for home manicures and pedicures will not fly in men’s magazines. This may be an oversimplification, but you must consider where you market your new small business idea.
3)Re-Align Budget to Improve MarketingSmall business ideas may just need more time or marketing funds to get off the ground. If you planned a budget to have a new small business idea at full speed in one year, but are only three-quarters of the way there, perhaps you simply need to re-align your budget.
4)Follow Your Instincts:New small business ideas are in good hands with an instinctive entrepreneur. A good entrepreneur will reflect on the past and see what small business ideas have worked and how they become successful.

Have a nice day

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Topic starter Posted : 26/04/2010 5:03 am
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