Business Start-up Plan

A business start-up plan is important

Business start-up plan

So you are thinking  business start up!  How exciting!  You are full of enthusiasm of course!

Now you need a business start-up plan

 

Do you need a plan?

If you were going to build a house your  first action would be to consult a plan.

This would tell you where the house would sit on the land, the construction details, the number of rooms, the location of doors and windows, type of heating and cooling etc.

You know what I mean; there needs to be a business start-up plan.

This does not need to be a voluminous many paged document.

Think more of a single page.

Some business-start-up plan points not to be overlooked

# Your business goals.
Without goals the place that you arrive at may well be a result of accident and far from where you desire to be.

# Expected income and expenses.
A business must have a clear picture of expected, income and  expenses which should be checked regularly so as to maintain a positive  cash flow.

# Achievement time frames.
This should be considered on a daily, weekly, monthly, three monthly and annual basis; you need to know what you are working  towards.

# Required activities.
Break these down to daily and use them as a basis for your business start-up  to-do list; this will help to stay on track.

# Current and required resources.
List your current resources for example computer, printer, product pamphlets, tablet, mobile phone, etc
Now list any resource requirements like training material, further product information, operating location,  etc.

# Legal framework.
Best to get this sorted right from the start:
Company or contractor, business accounts set up, a reliable and trustworthy accountant.

# Product                                                                                                                                                                                                                                            Describe in writing your product in comprehensive detail.

You should know your product upside down, front to back, and inside out whether it is a physical product, digital product or service.

 

List the product or service features and match them with the benefit provided.

The more detail you build the better you will be able to enthuse with customers.

You will be able to clearly tell the benefits they will receive from your product or service

The excitement and enthusiasm that you convey is what the customer will buy into.

 

There will be no business growth until a burning desire is created within the potential customer base

# Target Market
Remember that it is difficult to sell ice to Eskimos.   You can do better than that.

 

Develop a clear written picture of the profile of your customer base.

Think about age, marital status, family,  occupation type, employed, experience, financial situation, etc.

 

The better you can flesh out your customer profile and work to attract this type of customer the  more successful will be your sales results.

# Competitors
Once you have a clear written picture of your intended customer base you should then do the same for your competitors.

How long    have they been in business? Are they Johnny  Come Lately or do they have a long term track record.

If they are short term their experience may be problematic and if they are long term perhaps their attention to detail and service has  slipped.

 

The more information that you can build about your competition the better armed you will be for success.

Conclusion

We have considered a number of areas that should not be overlooked as part of a business start-up plan.

For many  there is a tendency to gloss over this planning step. In other words to not give it the attention that it deserves.

This is a mistake.

Your plan is what gives you direction in the difficult times and the ability to weather the journey storms along the way.

Your business start-up plan is what will provide the motivation to jump out of bed every day to carry out the necessary business activities.

Many  will be tempted to discount this step.

If you really desire success take the time to commit a business start-up plan to paper.

Not an elaborate affair,  maybe just bullet points.

 

If you take the time with this step your business start-up will be one jump ahead of your competition. and you will be well placed to see your business start-up develop successfully..

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