LIST FINANCIAL GOALS, PLAN INFRASTRUCTURE

BITTEN BY THE ENTREPRENEURSHIP BUG - 5

LIST FINANCIAL GOALS, PLAN INFRASTRUCTURE

(Continued from: FINANCIAL PARTNER ON BOARD WOULD SAVE INTERESTS)

It is time for the team to sit down and plan the financial goals of the newly formed company and their expansion modules. Most of the newly start-ups are now online serving varied clientele across wide geographical demarcations.

Listing the financial goals of the company is most vital for the sustainability of the company. How the visionaries plan to take their venture on the long run first starts with the planning within the concrete cubicles. All the people involved need to understand the market dynamics and take a call accordingly.

  1. Finalize the list of goals
  2. Differentiate them into two categories long term and short term goals
  3. Stipulate the target time for achieving
  4. Make an audit document to evaluate the procedures on a day-to-day basis
  5. Prepare a progress almanac

As mentioned earlier most of the customers are from various parts of the city/states, hence create an infrastructure module. Many companies feel that they need to spread their wings and create company-operated hubs at various levels. This is time consuming and involves huge resources and manpower.

On the contrary, creating a model hub and replicating the same through franchise networks is quite encouraging and easy to operate. In addition, create an audit team to evaluate the franchisee on a regular basis to maintain the brand equity and uniform service at all levels. Franchising not only brings in revenues but also encourages entrepreneurship.

These quantum measures ensure smoother flow in the long run covering wider networks avoiding unnecessary hassles. Ensuring these steps with always having a backup plan, success is not far away. This is part of the series of articles published by Way2World for your benefits. Pl share your experiences to grajkishan@gmail.com, to serve you better. Rajkishan

(To be continued: BITTEN BY THE ENTREPRENEURSHIP BUG – 6)