Your business plan.
Many women in home businesses are tempted to skip this step, but it will really help you clarify your strategy and goals. Unless you're seeking financing, your business plan doesn't have to be long and formal. Consi...der these areas as you prepare your plan.
#1. What is your business?
What products will you sell or what service will you provide? Describe in details your product or service and your vision for your business.
#2. Who will buy this product or service?
Think about your potential customers. Why do people need what you have to offer? How and when will you be able to sell your service or product? Will you meet your customers face-to-face? Will you sell your products online?
#3. Who is your competition? (this is important).
Look at other businesses. Is there anyone else providing your product or service? What will you do differently? Why will people buy from you instead of your competitors?
#4. Financials
What will your costs be? Examine all of your expenses, start-up costs, marketing costs, and ongoing costs. How much will you charge? Is there real profit potential?
#5. Marketing
How will people find out about your business? How will you promise the business and find new customers? Keep the 4 P's in mind. Product, Placement, Promotion, and Price. What product are you selling? From where will you sell it? Mail order, direct sales, boutiques, online? How much will you spend promoting it? At what price will you sell it?
Many women in home businesses are tempted to skip this step, but it will really help you clarify your strategy and goals. Unless you're seeking financing, your business plan doesn't have to be long and formal. Consi...der these areas as you prepare your plan.
#1. What is your business?
What products will you sell or what service will you provide? Describe in details your product or service and your vision for your business.
#2. Who will buy this product or service?
Think about your potential customers. Why do people need what you have to offer? How and when will you be able to sell your service or product? Will you meet your customers face-to-face? Will you sell your products online?
#3. Who is your competition? (this is important).
Look at other businesses. Is there anyone else providing your product or service? What will you do differently? Why will people buy from you instead of your competitors?
#4. Financials
What will your costs be? Examine all of your expenses, start-up costs, marketing costs, and ongoing costs. How much will you charge? Is there real profit potential?
#5. Marketing
How will people find out about your business? How will you promise the business and find new customers? Keep the 4 P's in mind. Product, Placement, Promotion, and Price. What product are you selling? From where will you sell it? Mail order, direct sales, boutiques, online? How much will you spend promoting it? At what price will you sell it?
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