SO, YOU’RE STARTING A NEW BUSINESS – Now What??
To get started with your new business, here is the MAIN things you will need in order to get your business off to a great start:
A Plan ~ A BUSINESS PLAN!
First and foremost, you must sit down and decide exactly what you will be doing. It sounds simple but I assure you I see many people who have a great idea for a business fail miserably because they did not have a plan, a Business Plan!
Your business plan should outline the research you have done on the product or services you intend to provide and contain a roadmap for your business operation.
Is your product or service a brand new idea?
Do others provide the same product or service?
Who is your target market for your product/service?
(men, women, girls under 15, boys over 10, babies, Babyboomers)
What type of license, permit and insurance do I need for this business?
What equipment will I need for my business (computers, printers, fax, etc)?
What are my start up costs for this business and will I need a funding source?
Where will I sell my product/service – from home or in a store front?
What will I charge for my product and service?
What is MY cost for this product, i.e. wholesale price, manufacturing price?
What are the soft costs (licenses, fees, memberships)?
How will I market my product or service (website, TV, Radio, Direct Mail)?
What type of company structure makes sense for my business?
(Corporation, Sole Propietorship, Joint Venture, Partnership, LLC)
Who will handle the day to day operation of the business – Accounting, Sales?
How will I measure my success (am I really making money or just cycling product)?
This is just a short list of items to consider when when creating your initial business plan. As you can see there are a lot of questions that need to be answered before anyone should be running out and starting a business.
InfoPrincess can help. We offer a FREE consultation and will provide you with easily accessible resources to get your business off on the right foot.
If your business goal is to succeed, do it right the first time!