Start Your Own Business – 06

How to do – initial plan and brain storm

 

If you are getting sure about what to do, start writing your business plan. There are some free templates available online. Although you may not need it, it helps you think through the all sorts of aspects to start and manage a business.

 

I thought about 2 pillars of my business, product distributions and workshops. My initial to-do’s list included:

  • Marketing (market and product research, trials, samples, business associates such as local producers and artists)
  • Product distribution (system setup, some products in stock)
  • Workshop (necessary equipment, utensils, possibly rent a space)
  • Advertisement and publication (business card, website, handouts, educational materials)
  • Legal setup (required registries, licenses and/or permits, lawyer for incorporation)
  • Office setup (company logo, equipment, supplies, paperwork system)

 

Then I examined each factor if I have direct, indirect and no control over. For example, my marketing and product distribution would include:

Marketing

  • Direct: internet research, direct contact with the potential market (sampling, surveys and through actual sales), visit local stores and markets, talk with local people
  • Indirect: joint marketing with potential business associates (sampling, survey, trial sale, etc)
  • No control: market trend

Product distribution

  • Direct: product/supplier sourcing, pricing, sales system
  • Indirect: arrangement and cooperation with customers, suppliers, business associates, volunteers and other key players
  • No control: by-laws, transportation cost, tax, traffic, suppliers’ schedules and business policies

Direct factors are up to you. You plan, prepare and make it happen. Indirect factors depend on not only yours but someone else’s schedule and motivation. No control factors are the matter you can’t do anything very much about.

Breaking each category into such details, you start seeing the order of to-do’s. Are you aware of current market in local, national and global scales? If not, you may want to start market research (direct control). Even though you have no (immediate) control, it may be a good idea to get familiar with current market trends.

Once you go through all areas breaking into details, you will have a good-size list of what you can do now, in the near future and after.

 

Summary:

What will you need to/can do in these areas – marketing, sales, advertisement, and office/paperwork management?

Do you have direct, indirect or no control on each factor? What are they?