Before starting a business it is wise to take the time to plan. A business plan is the most important document you will compose and it should be well thought out. Your plan may change over time, but the basics will keep you on the right track to making your business a success. You may have the passion to start a business and that passion and vision are only a part of what it takes.
1. Write a business plan that addresses your resources, capital needs, marketing plan, budget and how to differentiate you firm from others.
2. Do a competitive analysis. Where are the competitors? Are you better and what is the value proposition that makes you faster, cheaper or state of the art?
3. When businesses fail they fail in part because of a lack of planning. Run scenarios and use different assumptions on sales and expenses to ensure you have staying power
4. Use a SWOT analysis (strengths, weaknesses, opportunities and threats ) to help you assess the business strategy and its pitfalls.
5. Do a PEST analysis to stay abreast of how or what the Political, Economic, Social and Technological environments can affect your business. Example: Is there a local ordinance or law that you have to comply with? Do you understand all the regulations regarding your business such as sales tax, business license, and how your firm's ownership structure can impact your compliance with taxes?
6. Remember you are not alone...seek an experienced and certified coach to help you unlock your potential, be a sounding board to your ideas, and keep a positive perspective.
Key Pointe Coaching works with companies to unlock the potential of their greatest asset, their employees. We offer coaching to all management and executive levels as well as leadership training courses.
Candice Shehorn
Tidak ada komentar:
Posting Komentar