Business Plans and Social Media!
Posted August 12, 2009
Why New Business Plans FAIL!
Business plans, if done, usually don’t get much respect or attention.
Here are 4 reasons why:
• The focus is on what we do or make verses what the market wants or needs.
• Financial projections are just that – financial hocus pocus. A spread sheet make good sense but without a good dose of reality it can
crumble in a minute.
• The plan looks good on paper but the people factor isn’t up to projections. Unless you have robots doing every thing a good plan needs
good people to carry it out.
• No downside possibilities and a plan B. Even the best business plan should have some contingencies to deal with the unexpected
events of the world.
Wall Street Journal June 2009
Will the New Social Media Grow Your Business?
There is without a doubt a lot of growing attention for the various new social media – LinkedIn, Face Book, Twitter, etc. There is almost a hysteria about the ‘wonders’ this new communications tool will bring to virtually everyone – personally and/or for business growth.
HOLD ON! While the numbers are mesmerizing the proof isn’t there – at least not yet. For example, lots of people are signing up for Twitter and building their ‘followers’. But there is also data to show there is a short attention span for using Twitter.
So before you invest a lot of time and money in any of the new social media, you must research to learn if it will deliver a solid ROI for you and which one is right for you and your circumstances.
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