T O P I C R E V I E W |
Leezard |
Posted - Jul 14 2008 : 07:46:34 AM I've decided to at least write up a business plan for the hardware store so I can at least say I've done it. I picked up a few books from the library about writing a business plan but I know it's generally easier to hear tips from people who've actually done one, or more. So, if any of you ladies have experience with this I would love to hear how you worked yours up, any tips, things that came up that you didn't expect, etc. Thank you in advance!
http://ruby--slippers.blogspot.com/ www.leezard.etsy.com |
7 L A T E S T R E P L I E S (Newest First) |
Alee |
Posted - Jul 26 2008 : 12:44:47 PM Also talk to your Small Business Association. They can help you out SOOOO much! They really want small Business to succeed and often offer help over the phone, classes, even grants and loans!
Alee Farmgirl Sister #8 www.awarmheart.com Please come visit Nora and me on our new blog: www.farmgirlalee.blogspot.com |
therealshari |
Posted - Jul 26 2008 : 09:55:18 AM Brew Crew, that's an excellent checklist.
Many times, business plans concentrate on "the numbers" or the proforma P&L, Cash Flow Projections, Income and Expenses, etc.
One thing I've found, after writing several business plans, is that without the critical analysis, thinking, and committing the management details to paper, the numbers are simply "blue sky".
Business plans should not be viewed as "static" documents. I found that out the hard way, after writing one, and having it placed on the shelf, totally ignored. That business owner lost his business, feeling he was blind-sided by a construction project. I had very clearly detailed that the project was imminent, and could not be avoided. It would severely affect his marketing, his business access, etc... and he chose to ignore it.
Shari Thomas Got lambs? Got fleece? We do, and you can too! Check our our new "Fleece For Sale" page. |
Leezard |
Posted - Jul 19 2008 : 10:08:14 AM Thank you for the link, Ann! I will check that out and that gives me ideas of what to search for in my area to see if there's anything like that down this way.
http://ruby--slippers.blogspot.com/ www.leezard.etsy.com |
Forrester Farm |
Posted - Jul 19 2008 : 06:39:09 AM Elizabeth,
Check out Grand Rapids Opportunities for Women. www.growbuisiness.org . Though they are in GR and you are in the Detroit area - I know that they could have some helpful info for you. I went thru their program 8 yrs. ago when I was writing a business plan.
Good luck and good for you!
Ann Forrester Farm http://picasaweb.google.com/FORRESTERFARM/FORRESTERFARMWEDDINGS |
Brew Crew |
Posted - Jul 15 2008 : 11:09:12 AM How exciting, Elizabeth!
I saw this business plan on another site, and while it is quite intimidating-looking, it's all important stuff. The idea is to use each topic as a heading and jot down your ideas/ goals under each heading.
ANALYSIS SHORT SHEET ....................................
market definition past, present, future....size and direction segmentation variables industry forces analysis cost/differential analysis mkt attractiveness (growth/ROI) vs competitive position (relative market share)
customer needs and benefit analysis benefits ranking demographics, psychographics, geographics decision-making process high/low influence social influences motivation positioning attributes correlations and associations possible segmentation dimensions target market definition: present and future needs/satisfaction, life cycle associations
company USP...unique selling point KFS...key factors for success relationship with customer history, objectives, goals structure SWOT...strengths and weaknesses, internal SWOT...opportunities and threats, external positioning (5 rings) strategic alliances core competencies internal capacities/resources focus image systems and feedback (MIS)
competition industry analysis...structure, size, direction.....direct and indirect competition competitior comparison: strengths and weaknesses, internal AND opportunities and threats, external competitive reactions strategic competitive advantage
promotion communication objectives message selections medium selection target audience co-operative arrangements informational VS emotional campaigns push and pull strategy analysis timing
price determination key pricing issues costing and forecasts breakeven analysis value analysis price elasticity of demand diminishing marginal returns cost + psychological & competitive pricing analysis differentiation vs cost strategies ROI vs market share strategy analysis pricing policies & strategies analysis price and product life cycle analysis
PRODUCT definition feature/function/benefit analysis strengths and weaknesses analysis product line/mix synergies economies of scale product life cycles (diffusion adoption process) brand image life cycle positioning mix (USP) packaging reverse engineering
distribution channel analysis added value vs cost analysis strategic degrees of freedom geographical logistical issue analysis exclusive, selective, intense distribution strategies
external trends and forces positioning stake holder analysis
The Biz www.tvalahandmade.com The Blog: http://blog.tvalahandmade.com/ The Bits www.happydalehobby.blogspot.com/
|
Leezard |
Posted - Jul 15 2008 : 07:51:35 AM It's actually an existing store in the small town...which I think makes it a little easier as the cost will be less. So in general the products are all set but there are some changes I'd like to make to the space and some of the things they're carrying right now. The hardware used to be about half the size it is now and I'd like to condense it back down to close to that point because I think it has more appeal to that town. I remember going there with my dad as a kid, he was a contractor at the time, and just looking at everything...I think I remember the squeeky wood floor the most...lol After some time then I'd like to use the left over space to open a community kitchen for people to use to make foodstuffs to sell...ie. if someone wants to sell baked goods at a farmers market or a store, that type of thing. I'm still dreaming up other things to do :)
Thank you for the encouragement Rene!
http://ruby--slippers.blogspot.com/ www.leezard.etsy.com |
ruralfarmgirl |
Posted - Jul 14 2008 : 08:02:12 AM Elizabeth, You Go Girl.... How exciting, I am glad you're doing this... (to bad you haven't done the "sisterhood" thing yet as the farm would give you a badge for this)... really there is a catogory for this.. either way, you wont be sorry you did it.. have you "dreamed about" the location? and the type of products (old, replicated, new).. that you wanna have?
Rene~Prosser Farmgirl #185
"Despite the gardener's best intentions, Nature will improvise. ~Michael P. Garafalo
|
|
|