One of the first things someone taught me as a new business owner was that profit is not a dirty word. You need to know where to spend your money. In other words you need a strategic plan for your business. In pre-high technology days, you could keep your business easily going just by reacting to the industry changes and adjust cost or pricing. Reactive business management is out.
Today s unstable, technology-driven business environment requires a proactive approach.
You need to plan if want success. A step by step plan on how to achieve success and those profits. You first need to define your business. What exactly is the need your business is fulfilling. Not so much the product or service, but the result that is achieved by someone using the product or service.