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If you are a small business owner, an entrepreneur or an independent contractor, you should have a marketing or business plan to use as a guidepost/compass to lead your business' day-to-day activities.

Your plan does not have to be elaborate, nor does it have to be set in stone forever. However, it should specifically define key information including your target market and value proposition, as well as tactical ideas and action steps you will take in order to acquire customers and/or increase sales.

Here are 10 basic components to include in a Marketing Plan:

Product/Service Definition
Target Audience
Goals & Objectives
Identify the Competition
Pricing
Establish a Marketing Budget
Look at Channels of Distribution
Set Specific Action Steps
Set Timing for Each Step
Get Accountability

Creating and sticking to a marketing plan is the best way to keep you and your business focused, and on track for success. Writing the plan is the easy part, sticking to it tends to be more difficult for most people.

Author: Rob Engelman


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