Business Plan Location Success Tips 2007
- How will you organize all that information? What you need is a clear outline and focus.
- First you must identify your audience. Who are your potential stakeholders.
- Rank them according to importance, but most importantly have a plan on how they affect your future business.
In terms of an effective and well accepted layout, the following is a good start, but first where is your business located?
Business Location
Why is this important? Well it can be important in regards to the amount of traffic will pass or that you can drive to your business. If it is online there are various marketing programs you can use: pay per click, search engine advertising, local targeted keywords and searches. But if it is not here is a few things you can consider:
How close are other similar businesses to yours?
Is your business not available in the area yet?
Do you have people that already have committed in becoming customers?
Do you have lots of cars that go buy your street, is that good or bad for the type of business?
How much walking traffic goes by your business?
Are there other related businesses that people would use while going to yours?
This is the latest thing, the drive up small box/big box retail concept, strip mall are out, this is in.
You can drive your vehicle to the area and go to a number of shops to get what you need for the house, groceries, personal, restaurants etc.
So remember these things when designing your business and evaluating sales potential.
Business Plan Layout
Executive Summary - Who are you and what are you planning to do? List of managers, key people involved, roles and experience.
# Company - Where is your company located and what's your specialty? Area located, physical, distribution etc.
# Product or Service - what is your service and why is it better. You need to provide greater value than currently in the market.
# Market - Who are you distinctly selling your product to and why will they buy it? Is it because of price, service, new technology?
# Competition - Who is your competition in terms of product, pricing and placement strategy in and outside of your local area? How do you differentiate from competition in order to maintain long-term staying power and drive customer choice.
# Sales and Marketing - How, where, when and to who are you going to sell your product or service and what makes it special?
# Operations - Who will be operating your company, managing and what systems will be in place?
# Financial - How much money do you need to operate your company in the next 6 months to 5 years?,
How will you spend it specifically? Break it down into short and long term finances, fixed and non-fixed assets. Can you lease products?
Appendix -pertinent information, contracts, references, etc.
Related Tags: small business, success, business plan, tips for entrepreneurs, business location
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