User:Vtaylor/SCORE/Home business/plan

These next steps are about the process. You may need to iterate a number of rounds to fine tune your business. Here's where templates and checklists can be helpful.

plan . The concepts involved with assessing a business idea . Marketing your product or service,

create . Understanding business financials and how they work . How to fund and finance your business .  Your operating plan

PLAN

Create a Business Plan - Find out if your idea has a chance of becoming successful.

slides https://score.app.box.com/s/azqa2sbr5k24hdb3rzaxussk11xaokcw

38 Business Plan Importance . Encourages an objective view . Becomes foundation for planning . Powerful management tool . Communicates owner’s ideas

Once you've chosen a home-based business idea you're passionate about, write a business plan, including: . summary of your business idea .   Research into your target market and competition5 .   A description of your ideal customer .   Your marketing strategy .  Financial planning .  Your operating plan

The research and thinking that you do as you work through the business plan will help you refine your business idea and plan for how you will successfully launch yourself into your market without costly real-world trial and error. If your business plan shows you that your idea isn't viable, don't be afraid to shelve it, choose another home-based business idea, and go through the process again.

Business Canvas Model https://creately.com/blog/diagrams/business-model-canvas-explained/

I like the one-page business plans. There are several. They cover all the basics and serve as a handy reference and record of your thinking.

1.   Customer Segments 2.   Customer Relationships 3.   Channels 4.   Revenue Streams 5.   Key Activities 6.   Key Resources 7.   Key Partners 8.   Cost Structure 9.   Value Proposition

If you have several business ideas, create a business plan for each one. Then compare them. It is a good way to come up with more great ideas - things that apply to one may work for the other. The process can also highlight problems and barriers that you wouldn't have thought of it you had only created one.

. summary of your business idea .   Research into your target market and competition5 .   A description of your ideal customer

Your marketing strategy

marketing . Branding . Marketing Strategy . Crafting your marketing message . Target markets and channels . Products/Services•Channels strategies . Marketing Methods . Social Media . Sales

customers - Who do you want for customers? Where are they? How do you reach them? https://www.score.org/blog/11-ways-find-your-first-customers

marketing communication methods and tools to maximize your customer reach, pricing strategies, positioning, the difference between features and benefits, and different marketing strategies. outline your marketing strategy, test your marketing message, choose the right sales channel, and exercise your marketing strategy.

1.   Customer Segments

2.   Customer Relationships

3.   Channels

4.   Revenue Streams

5.   Key Activities

6.   Key Resources

7.   Key Partners

8.   Cost Structure

9.   Value Proposition

Demonstrated customer need

10 strategies you can use to help accelerate business growth. . Do Your Research. Build a Sales Funnel. Increase Customer Retention. Participate in Networking Events. Practice Corporate Social Responsibility. Form Strategic Partnerships.

Critical success factors - Startup businesses that are successful share a number of common critical success factors

https://www.youtube.com/watch?v=06WwH9D_ZCw

Well thought-out idea Realistic expectations Demonstrated customer need Comprehensive overview of entire business operation Money enough to start, emergency fund Record keeping, cash flow, taxes, withholding, sales tax

next - create

. funding .  Your operating plan