Do your financial's marketing plan

A marketing plan without financials has little clout. Financials can also be included in a general business plan.

One document you'll need to produce is a budget and sales forecast. This needn't be complex; in fact, it's wise to keep it simple. It may help to start with the following questions:

• How much do you project that you will sell?
• What will you be charging?
• What will it cost to produce your products or deliver services?
• What will be your basic operating expenses? Be sure to include recruitment costs and salaries here.
• How much financing will you need to run your business?
• Answering these questions will help you determine your projected income and expenses.
• A break-even analysis is another important step in developing your marketing plan. This analysis shows exactly how much you need to sell to cover your costs of doing business. If you can surpass your break-even point and easily bring in more than the amount of sales revenue needed to meet your expenses, you stand a good chance of making a profit.

Once you've done this important homework, the next step is to find an expert to help you put together a fully developed strategic marketing plan. BDC Consulting can help you design a plan customized to your company's needs.