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Business Plan 10 Steps to Success, Budget - Coggle Diagram
Business Plan 10 Steps to Success
3 // Fund your business
2 // Write your business plan
Grow Your Business
collaborating with more established brands in your industry
reach out to other companies & ask for some promotion in exchange for a free product sample or service
partner with a charity organization and volunteer some of your time or products to get your name out there
to run a successful business, you must adapt to changing situations
4 // Pick your business location
Refine your Idea
Define why
Why are you launching your business
Is it focused on meeting a person's need
Consider your franchise
Are you opening a franchise or making your own
Business name
Fine a business name that is fine and fits your service
Target customers
Think about who you are selling to, age group, profession etc
Why would these people want your service, do they need it?
6 // Choose your business name
Register with the government
DBA
need to register business name
EIN
Need an employer ID number from IRS
Not required for sole proprietors
Income Tax
Need to fulfill federal and state income tax obligations
Licenses and permits
You may need federal, state, or local licenses and permits
You need these in order to operate
Choose your vendors
3rd party vendors come in to help business run smoothly
They can help from HR, payment options, and even managing your finances
Partnership
Got Class? Eat fast
Anybody who's hungry, mainly college students
Monopolistic competition, special sandwiches unique to us
Make affordable, available, and quick sandwiches to college students
Hope students will try out and recommend to friends
We will advertise to get the name out, then let our customers recommend to people in classes or friends
$45k
Brand Yourself and Advertise
company website, social media, CRM, logo
many customers turn to the internet to learn about a business and a website is digital proof that your small business exists
keep digital assets up to date with relevant, interesting content about your business and industry
ask customers to opt in to your marketing communications
using opt-in forms ("forms of consent" given by web users, authorizing you to contact them with further information about your business)
Build Your Team
need to recruit & hire team to get company off the ground
need to give the "people" element of their businesses the same attention they give their products
identifying your founding team, understanding what gaps exist, and determining how & when you will address them is top priority
Good afternoon, We are (BN). We are here to present our sandwich shop. We want to open a shop that is affordable and available for college students on the go. We make unique sandwiches that can be bought at anytime and for a cheap price. Remember back when you were back in school. Wasn't there times you wanted food but nothing was open or you were on a budget? With this, we can relieve some stress with tasty ready to eat sandwiches. Thank you for your time.
Budget
