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To Create BD plan to setup a small Business requires -
A. Market Research and analysis of the Industry you want to Setup your business -
B. Understand your business in the given industry
C. Understand the Rule & Law of the Land
D. Formulate Long term Plan
E. Formulate Short term Plan
F. Have a Contigency Plan Ready
G. GUTS to Setup a Business
You have to understand the market and understand your own companys capabilities.
Set a stretch but realistic business plan. Use the balanced scorecard approach and split the plan in to 15 to 20 corporate objectives in the categories of customer; finance; process and people, 4 or five in each category. Targets for monthly progress require development for each objective. Sometimes these are flat for the 12 months; sometimes adjusted for seasonal variances.
Assign an owner to each objective, who is accountable for the result. Each of these objectives requires being broken down to a departmental KPI and the departmental KPIs are broken down to personal objectives.
The business plan is to be lived every minute of every day, not just reviewed at the end of every month / quarter, and becomes the natural way of working.
A hierarchy of meetings needs to be established, a monthly management meeting to address any shortfalls if objectives are not on target held by the senior management and objective holders; a weekly meeting held by the objective owner for the function and daily meetings for the personal objectives. This way, decisions can be made at the lowest level to ensure that performance is on track.
Have each balanced scorecard visible, have the targets visible, update the targets on an hourly / daily; weekly and monthly basis. Make time available for problem solving and empower employees to make decisions that get objectives back on target.
If you want to tie employees to the strategy; implement a performance management system. Reward achievers accordingly; develop your employees; recruit the best people.
The best way to develop a business plan for small businesses in the Middle East should be as follow:
1. Have an active, well "connected" working local partner in the country the business is located. It's very important to do so due to the way business succeed there.
2. Take care of the technical part of your business, and let your partner do the marketing. Most businesses are successful in the Middle East not because the products are great, it's because the company has strong connection with big shots who can help pushing the products to the customers.
3. Seek government support using your local partner. If the government give you the green light, succeeding is almost guarantee regardless how great is your products.
4. Customers in the Middle East have no say in most of the products presented. They just consume. Just make sure you can have the glamour of great media, Get the famous figures of social media to do the marketing for you and boom, you are making great money.
Business plans designed by the west will not always work. A small business in the Middle East will have great potential if you know the right people! And the potential to succeed will be even greater if you managed to have somebody in the government do the "PUSH" of your company from with in.
Thanks and have a great day
In short words and without theories:
. Define your goals --> short-, mid-, long- term, targeted area/niche/clientele, etc.
. As a small business you probably have a small budget! allocated to an expensive region --> plan your expenses, calculate the reach of your budget and spend accordingly
. Study/benchmark the market --> actors, similar products/services, price, technologies, etc.
. Define your uniqueness/added-value --> distinctive features/attributes, innovation, services, etc.
. Set-up a marketing/sales message (taking into consideration the above)
. NETWORK --> since you're a small business: seek strategic partnerships and attach your name/services to them (for marketing, sales, prestige, etc. purposes). Aim for face to face meetings (trust and values are highly regarded in the MEA region).
. Choose wisely the area where you want to open your business
Good luck
1 Feasibility study and market analyses for the particular business sector.
2 Understanding of real product evaluation, defining its exclusivity, expected popularity and its right place in the market.
3 Building strong CRM and continuosly expanding clients database, advertising and promoting.
4 Gaining Client's respect from high quality and excelent service.
5 Using up-to date facilities, growing and improving accordingly to the market needs.
The best way to set up a business development plan in MEA is the following:
1- prepare professional personnel
2- plan according to the market needs
3- create the needs to your unique products
4- use all the contacts you trust
5- put reasonable budget that can handle ups and downs
6- be unique in what you propose
7- invest in the team not only in the markets.
8- always be ready for plan B when markets in down.
9- sell what is profitable in professional way
10- know what potentials you have.
11- increase your efficiency.
Business development plan includes planning, budgets, sales, marketing, revenues and returns.
Understanding the life cycle of any business small or big is the best way to setting the business development plan or business model. The life cycle started with the following activities:
1- Customer Segments (Who is the targeted customer). Value proposition (What value do we deliver to the customer).
2- Value proposition (What value do we deliver to the customer).
3- Channels (Through which channels do the customer segments want to be reached).
4- Customer relationship (What type of relationship does each of the customer segments expected to establish and maintain with them).
5- Revenue Streams (For what value are the customers really willing to pay).
6- Key Resources (What key resources do the value propositions require).
7- Key Activities (What key activities do the value propositions require).
8- Key Partner (Who are the key partner).
9- Cost structure (What are the most important costs inherent in the business model).
the most important and the base thing before setting a business development plan in middle east is "THE INTEREST OF THE PEOPLE" it mean you develop a business plan according to the NEED,DEMAND,WANT, of the people.
Map out your client journey, pre and post-sale. Understand what you do currently.
Brainstorm how that could be refined to reduce cost of sale and increase client satisfaction
Once you have identified your most profitable sales process, think about how this integrates with your marketing to attract and gain return sales value of your ideal client (something we call your client avatar). Think about your target customer.
Decide on the singularly key sales activity that if consistently applied in your business for the next 90 days, would lead to a step change your organisation's growth
Assign resource and refine your process to include this activity and monitor it on an ongoing basis. For example, add it as a recurring agenda point to your regular sales meetings.
Ensure everyone understands the importance this activity has over others. If needs be, encourage them to complete a time and motion study where they record their exact activity at short intervals throughout their working week so they clearly see where they spend their time, what is stealing their time and what should gain more of their attention to ensure they are giving this priority the proper amount of attention.
