Breaking free to the ultimate you!

Posts tagged ‘sales’

Want to start your own business?

A lot of people are doing it – some out of want and some out of necessity. You may already have your own business now. Even if so, some of this information will be of help.

Question: How do I find the right business for me?

A good starting point is to make a list of your strengths and figure out a way to apply them to a business that interests you. Next, analyze the industry to determine how you could run a similar business better. Now make a list of five to seven things in which you excel, and another list of things you don’t like to do. Then do the same for things you like and dislike about your business life. This will help you discover a business that you will not only enjoy, but at which you will excel.

Once you pull the trigger on starting your business, there are several things that you will need to do yourself, then hire, contract other people, delegate, and/or create alliance partnerships to thrust your business forward. The three main reasons to start a business in order of importance are: (1) Provide a product and/or service; (2) Provide jobs, yours being the first; (3) Make a profit.

Following is a list of your main concerns.

  • Products and/or Services: What are the cutting edge benefits and the quality you strive for in your industry?
  • Sales & Marketing: These are two very different things. Marketing defines and gets your name and what you offer to your target audience. Sales are how you get the cash register to ring.
  • Finances: Monies and an accounting system are needed for startup and through the first year.
  • A Proforma: At least a 12-month projection of gross sales by month and cost associated with the sales, and overhead cost to get your net profit or loss before taxes.
  • Staffing: People to hire, contract with and form alliances/partnerships.
  • Space: To operate your business. It could be your home or rental space.

Starting a business is very rewarding but it can be overwhelming. However, like eating an elephant, you just take one bite at a time. These few bits will get you started and focused on creating your business. Having your own business can be a beautiful thing or a nightmare – so do it right. There are several books that I recommend that could be of help.

I have often been referred to as the “Business Person’s Coach.” This is my specialty. If I can be of any help, please contact me.

All the Best to You!

Pete

Creating Your Business Plan

This could be the most important document that you could ever produce for your company. It could be anywhere from a one page document up to a fifty page document. There are no two business plans the same.

First question: What is your business plan for? Is it to raise money from a bank or venture capital? Each one requires different types of information. Is it the blueprint to build and measure the progress of the business? Is it the WHAT, WHY, HOW and WHEN of your strategic plan? One thing is for sure: It is the big picture of your vision for your business. If it is done correctly, it will keep you passionate and motivated throughout the year.

This topic is much too large to handle in this article. I have received numerous inquiries on this topic. Yes, I am able to assist and coach you through creating your business plan. What I will do here is list some essentials to a Business Plan.

  • WHAT ARE YOU BUILDING? What is your vision?
  • WHY DOES THIS BUSINESS EXIST? What is your mission?
  • WHAT IS YOUR OBJECTIVE? What is your objective in all areas of your business, sales, pretax profits, products and services? What is your objective with customers, employees, costs, etc.?
  • HOW WILL THIS BUSINESS BE BUILT? What will make it successful over time? What are your strategies? What are the trends? What are your competitive strengths and weaknesses? What opportunities do you see, etc.?
  • SALES & MARKETING – The Description and Positioning of Products/Services. How will your potential clients know you exist? What is your marketing strategy? What advertising do you intend to do? How will you get publicity? How will you sell your products/services? What promotion/incentives will you offer?
  • WHAT ARE YOUR FINANCIAL CONSIDERATIONS? What are your P&L projections? What are your cash flow projections – worst and best scenario?

The best to you in doing this project is that it will serve you and your company for a long time. The time you spend will be well worth it.