Effective planning

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2 years ago

Hello there, everyone.

How's it going?

I've been delaying a lot recently, even with schoolwork and writing, which is one of the reasons why staying at home will simply make me relaxed.

Have you ever struggled with what to give someone as a gift? This happens to me all the time because I'm always worried what if they don't like it (of course they won't tell you if they don't), but there are some basic gifts that are really thoughtful, perhaps something general, it could even be skincare products or food itself, the packaging will just make it better, or sometimes I just opt for money.

Okay, for today's topic, I'd want to discuss effective planning. You must plan ahead of time to avoid being caught off guard. Personally, I appreciate it when I am prepared for anything, because I know that if I plan ahead, I will be ready for the worst as well as the best. Although things do not always go according to plan, but being prepared offers you a certain level of confidence.

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Everything, including marriage, necessitates planning; you must know how to pay your bills, what kind of lifestyle you want to live, and how you will handle things when your children arrive. You plan for your wedding before you get married as well. You work out your budget, how many guests you expect, what you want for music and food, and so on.

You prepare for school as well, saying things like, "I want to study this," or "I need to improve on a specific weakness to earn this score." You even plan ahead from school at times; I'd like to work in this type of company and everything.

You won't just jump into a business without preparing if you want to start one. You must first understand what a business comprises, as well as certain details such as:-

1. Your target audience:- who are the people you want to attract, is it the low income earners, children, men, women, high income earners etc.

2. Branding & Packaging:- Your brand/business name, you should use something that people will recognize that its you and its also advisable to use a simple name so in case you want to switch from selling shoes to bags you can just add it to the end.

3. Niche:- for fashion brands, what kind of styles do you want to be making be it corporate, traditional and the likes.

4. Profit:- we have different profit levels, 25%,50%,75% & 100%, this work when you know your target audience if you get high income earners you can go for 100% profit.

Good planning helps your life to be organized although life doesn't really go according to plan, but when you are fully prepared you won't be shaken when one or two things falls out of place.

Quick question

How do you source for capital for a business? (Like without collecting loan)

Thank you for reading.💚

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2 years ago

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