After your products and services are made open to your market, work does not stop there, you still has to evaluate its performance. It must pass performance standards during actual tests made by company. It should be evaluated on following grounds: a) customer-orientation, b) customer satisfaction and, c) marketability and sales. These three grounds are correlated. Customer must be familiar with product before he can purchase same. If he has already bought it, he must be satisfied in order to be back for more. If he comes back therefore, he is finds product affordable and fulfilling. That fulfillment, company must treasure and protect.

A business plan has basic components. It involves current and pro forma balance sheet, cash flow analysis and income statement. These components will help you assess your company. It will also help you see foreseen and unforeseen business events. This will develop good decision making capabilities. As a consequence, you may have solution at hand, even when problem has not yet arrived. This is essence of business plan, having to be specific, comprehensive, organized and effective.

The importance of planning cannot be overemphasized. Oblivion of which has already toppled business tycoons. Other companies end up insolvent. Others were greatly indebted. These consequences will continue to devastate businessmen so long as planning is taken for granted.

Bear in mind that putting vital details into black and white is a crucial and useful step for every business venture!