Before opening your doors or activating your web store you must be ready.
Musts of starting a business.
1) Goal Setting is crucial!
Plan Your Work and Work Your plan!
Stats show that we are more likely to reach our goals if we write them down. In addition, stats show that 90% of new business fail because they fail to plan.
Invest serious time in outlining the following:
1) What am I going to sale?
Every business sales something...yours is no different.
2) Who is my client?
Knowing this allows you to focus your
marketing Efforts.
3) How do I reach my target client?
If you sell wine, then the local high school newspaper is not a place to purchase an ad.
4) What costs are involved in my operation?
It is imperative to be able to itemize every cost associate with running, maintaining, and perpetuating your business.
5) How many items must I sale to pay the rent, utilities, employees, web admin fees, and hopefully, myself?
You have to know this in order to set minimum objectives for your business to stay afloat.
6) Finally, where do I want to be in 1,3, and 5 years? This is where you put your dollar figure goals to paper.
Invest serious time in outlining the following:
1) What am I going to sale?
Every business sales something...yours is no different.
2) Who is my client?
Knowing this allows you to focus your
marketing Efforts.
3) How do I reach my target client?
If you sell wine, then the local high school newspaper is not a place to purchase an ad.
4) What costs are involved in my operation?
It is imperative to be able to itemize every cost associate with running, maintaining, and perpetuating your business.
5) How many items must I sale to pay the rent, utilities, employees, web admin fees, and hopefully, myself?
You have to know this in order to set minimum objectives for your business to stay afloat.
6) Finally, where do I want to be in 1,3, and 5 years? This is where you put your dollar figure goals to paper.
2) Smart Marketing
Spend money, but be smart.
Initially, every penny going out will seem like a lot of money. It is absolutely imperative that you spend money on marketing your new operation, but it is equally as important to not throw away your money on every advertiser that solicits your business.
Marketing reps love new business owners because most new entreprenuers are clueless about advertising. In other words, they are an easy sale.
Think of marketing as a circle with your business in the middle. Not everything you do is going to force the phone or e-mail to light up. Somethings are geared towards making your name known in the realm in which you operate, and yes, others are meant to make someone take action to buy something.
If you can afford it, radio usually gives you the best bang for your buck on branding your business. If you are a web entreprenuer, then radio is useless and you need to look into spending cash on search engines. The great thing about the latter is that it gets you branding and active responses from clients.
If you want someone to know who you are, you have to tell them. No one else will. For example, there are a hundred brands of cold remedies...how many can you actually name? I assure you the ones you can name from memory are the ones who advertise the most.
Marketing reps love new business owners because most new entreprenuers are clueless about advertising. In other words, they are an easy sale.
Think of marketing as a circle with your business in the middle. Not everything you do is going to force the phone or e-mail to light up. Somethings are geared towards making your name known in the realm in which you operate, and yes, others are meant to make someone take action to buy something.
If you can afford it, radio usually gives you the best bang for your buck on branding your business. If you are a web entreprenuer, then radio is useless and you need to look into spending cash on search engines. The great thing about the latter is that it gets you branding and active responses from clients.
If you want someone to know who you are, you have to tell them. No one else will. For example, there are a hundred brands of cold remedies...how many can you actually name? I assure you the ones you can name from memory are the ones who advertise the most.
3) Standing Out!
Being Different (in a good way)
Regardless of what you are doing in your business, there is usually someone else doing the same thing. Well, what will you do differently?
What IS your competition is doing? Go pick up the phone, go to their website, and mystery shop their virtual or brick and mortar stores. Make mental and/or physical notes. Is their staff friendly? Do they provide decent customer service? Is their site easy to navigate? Do they offer satisfaction gaurantees?
Either way...you have do it better and differently than they do. Initally, you cannot afford to have poor service or quality. They have an established name...they can be slackers.
What IS your competition is doing? Go pick up the phone, go to their website, and mystery shop their virtual or brick and mortar stores. Make mental and/or physical notes. Is their staff friendly? Do they provide decent customer service? Is their site easy to navigate? Do they offer satisfaction gaurantees?
Either way...you have do it better and differently than they do. Initally, you cannot afford to have poor service or quality. They have an established name...they can be slackers.
Recommended Reading
Business owners should always be brushing up!
The One Minute Entrepreneur: The Secret to Creating and Sustaining a Successful Business by Ken Blanchard, Don Hutson, Ethan Willis
<p><b>Mega</b>-<b>bestsell more...0 points
Harmonic Wealth: The Secret of Attracting the Life You Want by James Arthur Ray
<p>Are you ready to transform your current t more...0 points
StrengthsFinder 2.0: A New and Upgraded Edition of the Online Test from Gallup's Now, Discover Your Strengths by Tom Rath
DO YOU DO WHAT YOU DO BEST EVERY DAY?<br />C more...0 points
Entrepreneur's Notebook: Practical Advice for Starting a New Business Venture by Steven K. Gold
Entrepreneur's Notebook propels you on a whirlwind more...0 points
Insurance for Dummies by Jack Hungelmann
Insurance For Dummies introduces readers to the ba more...0 points
Thinking about insurance makes many people cringe with fear; this handy guide makes insurance make sense. It demystifies complicated policies and points out...
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Dictionary of Insurance Terms by Harvey W. Rubin Ph.D. CLU CPCU
Books in Barron's pocket-sized Business Dictionari more...0 points
Some Great resources for business or Revenue generation.
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wesman70 wrote...
Little things done consistently over time, turn into big things...
Posted May 22, 2008
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