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Entrepreneurship:  Writing a business plan?  |
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Leezard
True Blue Farmgirl
950 Posts
Elizabeth
Novi
MI
USA
950 Posts |
 Posted - Jul 14 2008 : 07:46:34 AM
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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 |
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ruralfarmgirl
True Blue Farmgirl
4309 Posts
Rene'
Prosser
WA
USA
4309 Posts |
Posted - Jul 14 2008 : 08:02:12 AM
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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
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Leezard
True Blue Farmgirl
950 Posts
Elizabeth
Novi
MI
USA
950 Posts |
Posted - Jul 15 2008 : 07:51:35 AM
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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 |
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Brew Crew
True Blue Farmgirl
676 Posts
Molly
Arizona
676 Posts |
Posted - Jul 15 2008 : 11:09:12 AM
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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/
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Forrester Farm
True Blue Farmgirl
703 Posts
Ann
Belmont
MI
USA
703 Posts |
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Leezard
True Blue Farmgirl
950 Posts
Elizabeth
Novi
MI
USA
950 Posts |
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therealshari
True Blue Farmgirl
235 Posts
Shari
Beryl
UT
USA
235 Posts |
Posted - Jul 26 2008 : 09:55:18 AM
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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. |
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Alee
True Blue Farmgirl
22941 Posts
Alee
Worland
Wy
USA
22941 Posts |
Posted - Jul 26 2008 : 12:44:47 PM
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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 |
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Entrepreneurship: Writing a business plan? |
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Writing a business plan?
