By Peppin Lafontaine at December 17 2018 20:06:50
You may find that the easiest part is the actual writing of the plan. The real work comes in the data-gathering, which may take you a hundred hours or more, depending on what you already know or have researched. If your new venture is in an area where you've been working, you may already know about your customers, your suppliers, your marketing plan, your organizational structure, your financial and cash flow needs, equipment, inventory, and so on.
Industry Analysis - How does your product or service compare with what is currently on the market? What is the trend in the overall industry? What have been the total sales in this industry over the previous 3 to 5 years? What new products or technologies have had the biggest impact on this industry recently? What is the future outlook for these and what trends are emerging? Who are the competitors, where are they located, and how are they doing? What advantage do you offer over them? Who is buying this product or service now? Describe the typical customer for this product or service.
There are lots of consultant services open to brand new start ups this short article highlights a number of the benefits associated with getting qualified suggestions as well as making the best use of these services.
After doing this, they will give recommendations based on what they find. If there are coffee shops already in place, one recommendation they might make would be to include free Wi-Fi as a way to bring in more customers.
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