Monday, August 31, 2020

Starting a Small Business?



Hey neighbors!!

Today many people are working from home.  They might work for a large company or perhaps they have started a home business.  I am presently working on a home business.  I found a site GrowThink that has information that can help someone who is starting a new business of their own.  They have an article that lists 10 components to your business plans.  I read through, and although not all of them would apply to me personally there are several points I need to consider. when setting up my own plan.

For example, they mention Customer Analysis.  I am presently trying to explore different ways of reaching customers of different ages.  I need to choose a target audience, and focus on products/methods that will meet their needs and appeal to them.  I think I am presently trying to reach everyone, instead of focusing on a specific group.  I don't want to narrow it too much, but at the same time I do need to set some guidelines that will keep me focused.  It will make my choices easier and remove some stress of trying to reach everyone.



Another topic is Analysis of the Competition.  I don't really have direct competition here, but a couple of companies do offer a different style or version of some of my items.  They are more indirect competitors rather than direct.  I want to make sure that what I offer is a good product at a reasonable price.  I personally want quality yet with a moderate price tag.

Since I am still basically in the setup and beginning stages, I am slowly finding my way and working through what I need to do to make this a successful venture.  If you are starting a small business, or perhaps you already have a small business you might want to take a little time and work or revamp your business plan.  Wherever your new adventure leads I wish you the best!  Thank you for stopping by today!!

No comments: