subject: What is the Business Startup Strategy? [print this page] Author: Chandan Chaturvedi Author: Chandan Chaturvedi
Starting a small business is really the challenging and an exciting venture. Writing a business plan is the very important missions that entrepreneurs should focus on before starting small business. But the entrepreneurs should know about writing a plan that it is not about the money. It is about dedication It is about energy It is about having the ability to get the job done You should not think too much about how much money your new job needs. If the lender/ investor are sold, you will have the money. Its starting may change your life for the better with proven ideas on successful of it, practical guidance on how to incorporate it, partnerships and a run-down of financing options and etc. There are so many business investors, all sources for its financing are: Small Business Administration, banks, and private angel investors, strategic alliances, leasing companies, venture capital investors, MESBICs, SBICs, credit union coalitions and other more. But there never seem to be enough funding sources when a company is seeking financing. Investors business responds to its plans that meet their needs and specifications; they ignore all the other plans. Your plan must have investors identified before ever written. It does not matter how great a company is, if it does not fit the parameters of standard funding sources, loans and grants will be out of reach. What is the Startup Strategy? There are major points to consider: 1) Define your Business and Vision What business are you in? Who is the customer? What do you sell (product/service)? What is your primary benefit? What is your plan for growth? 2) Write down your Goals 3) Understand your Customer 4) Learn from your Competition What competitors do you have? What do you know about your target market? How are competitors approaching the market? How can you improve upon the competitions approach? What are the competitors weaknesses and strengths? What are the lifestyles, demographics and psychographics of your ideal customer? 5) Financial Matters Assumptions Start up Investment Running Monthly Overhead Cumulative Cash Streamlined Sales Forecast Break-even 6) Identify your Marketing Strategy Identify All Target Markets Qualify the Best Target Markets Identify Tools, Strategies and Methods Test Marketing Strategy and Tools I hope you have got your all the answers.About the Author:
