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Business strategy
Good location without proper planning may not work
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[QUOTE="Abigael, post: 212568, member: 25357"] I totally agree with you on this. A good location is a very good thing to consider when starting a business. It ensures that you place your business where your customers can easily reach you. You always consider what is in high demand in an area before setting up your business there. That way, you satisfy the needs of people around you fully. However, business planning is of much more importance. If you just focus on the location alone, you won't make much out of your business. A good business plan will tell you how much capital you need, including all the other resources too, both human resources and inhuman resources. I agree with you that business planning should also include risk and response planning too. You should identify the possible challenges that may occur in your business and define a response plan for them. That way, you will be well prepared when disaster strikes. The business plan will even help you choose the perfect location for setting the business. This is because planning also involves identifying your potential customers. That will lead you to choosing a place where they are most populated for business. Therefore, business planning should be your priority because it covers most things that you need to do for your business to run well. [/QUOTE]
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