Feb 6, 2009
I strongly suggest that entrepreneurs make a business plan. As a result of implementing the plan will be much better prepared and know whether your business idea is viable. Try the following article for a shortcut. However, as a precaution following a shortcut unless you have experience or knowledge about your area. Proceed with caution, without a business plan!
How is your business unique, and for what goods or services attractive to customers? What are the main differences between your company and your competitors? What are the determining factors in choosing your company over another?
In other words, what is the underlying reason for a customer to do business with your company?
1) Define your business and Vision
Defining your vision is important. Will become the driving force behind your business. Here are questions that will help you clarify your vision:
* Who is the client?
* What business are you in?
* What do you sell (product / service)?
* What is your plan for growth?
* What is your biggest competitive advantage?
2) Write down your goals
Create a list of objectives with a brief description of action items. If your business is a start, we will put more effort into their short-term objectives. Often a new business concept has to go through a period of research and development before the outcome could be longer to accurately predict timing.
Create two sets of objectives:
1. In the short term from six to 12 months.
2. In the long term can be two to five years.
Explain as specifically as possible what you want to achieve. Start with your personal goals. After his list of business goals. Answer these questions:
* As the owner of this business, what do you want to achieve?
* How large or small you want to do this business?
* Do you want to include the family in your business?
* Personal: you desire to provide employment, or perhaps you have a strong opinion on not wanting to manage people.
* Is there any reason you want to deal with the company?
* Describe the quality, quantity and / or service levels and customer satisfaction.
* How would you describe your main competitive advantage?
* How do you see the business making a difference in the lives of their clients?
3) Know Your Customer
It is unrealistic to expect that it can meet the needs of all, no company can. Choose carefully your target market. Ignore this field, and I guarantee you will be disappointed with the performance of your business. Get this right and be more than pleased with the results.
* Needs: what unmet needs do your future customers? How does your business meet those needs? It is usually something the customer does not have or need not currently met. Identify unmet needs.
* Would you like thinking of it as the desire or wish of their client. It may also be a weakness.
* Problems: remember people buy things to solve a specific problem. What problems does your product or service solve?
* Perception: what are the negative and positive perceptions that customers have about you, your profession and your products or services? Identify both the negative and positive. You will be able to use what you learn when you start marketing and promoting your business.
4) Learn from the competition
You can learn a lot about your business and customers in search of how their business competitors. Here are some questions to help you learn from your competition and focus on its customers:
* What do you know your target market?
* What competitors do you have?
* How are approaching the market for competitors?
* What are the weaknesses of the competition and strengths?
* How can we improve the skills of the approach?
* What are the lifestyles, demographics and psychographics of your ideal customer?
5) Financial
How to make money? What is your break-even point? How much potential business is not? Take time to invest in the preparation of financial projections.
These projections should take into account the period of collection of accounts receivable (outstanding customer accounts) and payment terms to its suppliers. For example, you can pay your bills in 30 days, but have to wait 45-60 days to obtain payment from your customers.
A cash flow projection will show the amount of working capital will be required during the "gaps" in its cash position.
I recommend thinking about these six key areas:
1. Launch Investment
2. Assumptions
3. Monthly General Running
4. Streamlined sales forecast
5. Cumulative Cash
6. Breakeven point
6) Identify your marketing strategy
There are four steps to create a marketing strategy for your business:
1. Identify all target markets: defining who your ideal customer or target market. Most companies experience 80% of its business from 20% of its customers. It makes sense then to manage their time and energy to customers that are most important.
2. Rate the best target markets: this step is to further identify the requirements and meets customer profile with the best chance of success. The strategy is to position your company at the same level as most buyers are addressed. It is essential to know who your best customers are and how best to position your company in the market.
3. Identify tools, strategies and methods: a market can not enter a market can not serve. Marketing is the process of search, communication and education of its main market for their products and services. Choose a combination of tools and strategies, which when combined, increase your chances of success.
4. Test Tools and Marketing Strategy: the assumption that not usually check that have the potential to create business problems. Take the time to test all scenarios, especially when they are making major expenditures.
How is your business unique, and for what goods or services attractive to customers? What are the main differences between your company and your competitors? What are the determining factors in choosing your company over another?
In other words, what is the underlying reason for a customer to do business with your company?
1) Define your business and Vision
Defining your vision is important. Will become the driving force behind your business. Here are questions that will help you clarify your vision:
* Who is the client?
* What business are you in?
* What do you sell (product / service)?
* What is your plan for growth?
* What is your biggest competitive advantage?
2) Write down your goals
Create a list of objectives with a brief description of action items. If your business is a start, we will put more effort into their short-term objectives. Often a new business concept has to go through a period of research and development before the outcome could be longer to accurately predict timing.
Create two sets of objectives:
1. In the short term from six to 12 months.
2. In the long term can be two to five years.
Explain as specifically as possible what you want to achieve. Start with your personal goals. After his list of business goals. Answer these questions:
* As the owner of this business, what do you want to achieve?
* How large or small you want to do this business?
* Do you want to include the family in your business?
* Personal: you desire to provide employment, or perhaps you have a strong opinion on not wanting to manage people.
* Is there any reason you want to deal with the company?
* Describe the quality, quantity and / or service levels and customer satisfaction.
* How would you describe your main competitive advantage?
* How do you see the business making a difference in the lives of their clients?
3) Know Your Customer
It is unrealistic to expect that it can meet the needs of all, no company can. Choose carefully your target market. Ignore this field, and I guarantee you will be disappointed with the performance of your business. Get this right and be more than pleased with the results.
* Needs: what unmet needs do your future customers? How does your business meet those needs? It is usually something the customer does not have or need not currently met. Identify unmet needs.
* Would you like thinking of it as the desire or wish of their client. It may also be a weakness.
* Problems: remember people buy things to solve a specific problem. What problems does your product or service solve?
* Perception: what are the negative and positive perceptions that customers have about you, your profession and your products or services? Identify both the negative and positive. You will be able to use what you learn when you start marketing and promoting your business.
4) Learn from the competition
You can learn a lot about your business and customers in search of how their business competitors. Here are some questions to help you learn from your competition and focus on its customers:
* What do you know your target market?
* What competitors do you have?
* How are approaching the market for competitors?
* What are the weaknesses of the competition and strengths?
* How can we improve the skills of the approach?
* What are the lifestyles, demographics and psychographics of your ideal customer?
5) Financial
How to make money? What is your break-even point? How much potential business is not? Take time to invest in the preparation of financial projections.
These projections should take into account the period of collection of accounts receivable (outstanding customer accounts) and payment terms to its suppliers. For example, you can pay your bills in 30 days, but have to wait 45-60 days to obtain payment from your customers.
A cash flow projection will show the amount of working capital will be required during the "gaps" in its cash position.
I recommend thinking about these six key areas:
1. Launch Investment
2. Assumptions
3. Monthly General Running
4. Streamlined sales forecast
5. Cumulative Cash
6. Breakeven point
6) Identify your marketing strategy
There are four steps to create a marketing strategy for your business:
1. Identify all target markets: defining who your ideal customer or target market. Most companies experience 80% of its business from 20% of its customers. It makes sense then to manage their time and energy to customers that are most important.
2. Rate the best target markets: this step is to further identify the requirements and meets customer profile with the best chance of success. The strategy is to position your company at the same level as most buyers are addressed. It is essential to know who your best customers are and how best to position your company in the market.
3. Identify tools, strategies and methods: a market can not enter a market can not serve. Marketing is the process of search, communication and education of its main market for their products and services. Choose a combination of tools and strategies, which when combined, increase your chances of success.
4. Test Tools and Marketing Strategy: the assumption that not usually check that have the potential to create business problems. Take the time to test all scenarios, especially when they are making major expenditures.
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