How to Develop a Marketing Plan Part 3

This is a continuation of How to Develop a Marketing Plan 

Welcome to part three.

Now that you have gathered the information about your company (part one) and looked at the world around your business with the SWOT Analysis (part two), now is the time to start working on your goals.

Here is where you develop the future of your business by setting a course and deciding what you are going to do to succeed and how you are going to do it.


Well to get a goal for the future first you look to the past:

• Review past sales numbers 
• Look at your over the years 
• List the your current typical typical new customers 
• List how new product introductions gone 

Based on this data, you can set a monetary growth rate for the coming year. I always like to set three goals. 

• Conservative: based on growth rate patterns, 
• Reach: based on an ambitious, but achievable percentage
• Outrageous: based on not-always-realistic growth. 

I like setting these three goals because I know my company can achieve the first one. I push for the reach goal, but I am betting on outrageous growth. I may not get to the reach or the outrageous goals every year, but I know I will meet the patterned growth of the conservative goal. That way I reach one goal and I don't have to be too disappointed. 

Yes, I have high hopes, but high hopes are what keep entrepreneurs going and growing. Just be mindful in your planning not to set too many goals. Goals can be very stressful and being an entrepreneur is stressful enough; don't put too much added pressure on yourself by setting too many goals. Aim for the stars, but don't forget that metered growth is sustainable growth and set your goals wisely.

That is part three. Look for part four coming soon and please let me know if you have any questions.

Penguin Suits is here to help and marketing plans are just one of our specialties. Let me know what you think and we will look forward to talking with you and visiting. See you in part four!

Debi Lamb-Burrows
Head StorytellerPenguin Suitswww.penguinsuits.com830.816.8238