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The Challenges of Opening a Small Business - Coggle Diagram
The Challenges of Opening a Small Business
Increasing Brand Awarness
Being P.C.
Who are we?
Are we a service or a product
Offline/Online Marketing
Social Media Prescence
Follow Social Trends
Creating a Strong Brand for our company
Hosting events to create a positive reputation for the company
Dealing with Competition
Identify the competition
Why our product?
Is our product local or international?
How we compare to others within the same business
Offering specials or deals to compete with the market
Finding Customers
Creating relationships with customers
Who is our ideal customer
Keeping customers happy
Financial Planning
Cash flow issues/ Lack of merchandise
Back up Budget
What advantages we have against our competition
Creating a Business Proposal
One person in charge or more?
Finding the right employees
Creating a Business Budget
Initial Start Up Cost
Being Approved for a loan