Bloommax Business Solutions

31/01/2022

Testing is not Gambling!

Testing is not Guessing!

You do not want to test what will not add value to your business.

Testing requires a critical evaluation of the different business conditions, factors, or parameters in question, before investing your resources.

Interestingly, TESTING reveals at almost the same time what works and what doesn't for contrasting market conditions or factors.

Keep Testing!

Do have a profitable business week!!!

20/02/2021

19/02/2021

If you are looking for a very simple yet very powerful tool to help you develop your business strategy, do a SWOT analysis!

Strength and Weakness are internal to your business- factors you have control over.

Opportunity and Threat are are external- you don't have control over these. competitors and policies are found here.

When you take the time to do a SWOT analysis, you’ll be armed with a solid strategy for prioritizing the work that you need to do to grow your business.

18/02/2021

The financial goal of every business is to make profit. without knowing your revenue and expenses, profit or loss can't be ascertained! It is Financial Projection because it's a forecast of future revenue and expenses. This takes into consideration internal and external factors that could affect the business. 'I am making $10,000 profit this year'- how do you aim to make that? How Much do you want to spend on marketing to make that? How much income does or do you want the business to generate, and within what time frame, with which monetary resources? Many more questions could go on to emphasize how critical Financial Projection is to you business.

Investors take time to analyze this part of your business plan; a plan is usually trashed if it doesn't include financial projection.

The advice is, do not do this on your own even if you wrote your Business Plan yourself. Give this to an expert.

Send in a copy of your financial projection, we'll review for free! We could also prepare a dependable one for your business..

18/02/2021

One thing about myths is that they are mental obstacles, usually passed in the history of business. It is most times of unknown origin. This in turn takes away the rational thinking associated with ethical aspect of your business.

Note that the success in business is in crushing every obstacle. As stubborn as myths may be, it is always advisable to gather and follow data, and pay less attention to myths since foundation of most are unknown. This is because they have been proven over time, to outsmart myths.
This is one relevance of the market research section of a complete Business Plan.

17/02/2021

"Why do I have to do competitive analysis? I mean, I'm not in competition with anyone 🤷. I do my business, you do yours."

Dear business owner, did I just hear you say that? I bet you didn't. You know why?

Contrary to popular opinion, as a business owner, analysis of competition is crucial to the growth and survival of your business! You need to know what your competitors are doing right or wrong in other to gain a market advantage! To have your own share of the market!

Dear business owner, a healthy competition is very essential and the importance of such analysis cannot be over emphasized.

Therefore, at Bloommax Business Solutions, we consider Analysis of competition a very important part of your strategic business plan. You wanna know more about this?
Then, like and comment , we'll send you a dm on a tool to compare your performance to that of your competitor in the social media space

16/02/2021

Have you heard the story of Annie, a fashion designer in Los Angeles, who lost the opportunity to secure $30,000 fund from her uncle? How did this happen? Is your Business Plan good to go?

We are reviewing for first two people to send us a copy of their Business Plan. To Qualify , follow us on Facebook and Instagram and comment 'done' in the comment section.

16/02/2021

Imagine Apple designing a new iPhone and keeping it in a shelf in the office. Or Coca-cola deciding not to advertise their products. Unreasonable right? At what stage of your business should marketing come in? The Person with the correct comment gets a free Marketing Plan from us. Let's meet at the comment section!

16/02/2021

Unfavourable market conditions make business more competitive and challenging. Favourable conditions make it easier to start a business, grow and enjoy the profit.

To remain in business, you must be ready to adjust rapidly to the unfavourable conditions, especially.

Do have a beautiful business day!

15/02/2021

Why is writing a business plan necessary?

After all, I know what I want to sell, I know where to buy them from, I know where to sell them, I have rented a shop already, I have opened my IG page, what's the business plan for again?....

Business plan is like writing your business goals, principles and process in the sands of time. Many years into the business, it will keep you going. It will remind you of how, where and why you started and where you are going to. It will help you communicate your vision to your staff every time need be.

So, having a well structured plan is not just necessary, but very essential.

We will talk about the other ways business plan is important later on.
Hang on!