3 answers
Jackson
Student
Mwanza, Mwanza Region, Tanzania
1
Question
Asked
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How to manage a business for a person who has started or new business ?@25villagecareer
How to manage a business for a person who is starting or new business @25CareerVillage
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2 answers
Charlie Jennings
Director of sales
23
Answers
Lexington, Kentucky
Updated
Charlie’s Answer
Jackson,
Starting a business is exciting, and having a solid plan is key to turning your idea into something real and successful. Here are the main steps to create a strong startup business plan:
1. Define Your Business Idea - What product or service will you offer? What problem does it solve? Who is your target audience?
2. Conduct Market Research - Identify your competitors. Look for gaps or opportunities.
3. Develop a Business Model - How will you make money? What’s your pricing strategy?
4. Write a Business Plan - Here’s what to include:
• Executive Summary: Snapshot of your business and plans.
• Business Description: What you do and why it matters.
• Market Analysis: Who your customers and competitors are.
• Organization & Management: Your team and their roles.
• Products/Services: Details of what you're offering.
• Marketing & Sales Strategy: How you’ll attract and retain customers.
• Financial Projections: Forecasts for revenue, costs, and profits.
• Funding Request (if needed): How much you need and how you’ll use it.
5. Plan Your Finances - Estimate startup costs. Create a budget (equipment, marketing, legal, etc.) Build financial projections for the next 3–5 years. Decide how you’ll fund your startup (savings, loans, investors, crowdfunding).
6. Legal Structure & Registration - Choose a structure: sole proprietorship, LLC, partnership, corporation. Register your business name. Apply for an EIN (Employer Identification Number). Get necessary licenses or permits.
7. Build Your Brand - Create a name, logo, and slogan. Build a simple website and social media presence.
8. Set Up Operations - Find a location (physical or online). Set up accounting systems. Build relationships with suppliers or partners.
9. Launch and Market - Plan a launch strategy (soft launch, grand opening, beta release). Promote using digital marketing, PR, partnerships, and community outreach.
This looks like a lot but you can do it! How do you eat an elephant? One bite at a time!
Good Luck!
Charlie
Starting a business is exciting, and having a solid plan is key to turning your idea into something real and successful. Here are the main steps to create a strong startup business plan:
1. Define Your Business Idea - What product or service will you offer? What problem does it solve? Who is your target audience?
2. Conduct Market Research - Identify your competitors. Look for gaps or opportunities.
3. Develop a Business Model - How will you make money? What’s your pricing strategy?
4. Write a Business Plan - Here’s what to include:
• Executive Summary: Snapshot of your business and plans.
• Business Description: What you do and why it matters.
• Market Analysis: Who your customers and competitors are.
• Organization & Management: Your team and their roles.
• Products/Services: Details of what you're offering.
• Marketing & Sales Strategy: How you’ll attract and retain customers.
• Financial Projections: Forecasts for revenue, costs, and profits.
• Funding Request (if needed): How much you need and how you’ll use it.
5. Plan Your Finances - Estimate startup costs. Create a budget (equipment, marketing, legal, etc.) Build financial projections for the next 3–5 years. Decide how you’ll fund your startup (savings, loans, investors, crowdfunding).
6. Legal Structure & Registration - Choose a structure: sole proprietorship, LLC, partnership, corporation. Register your business name. Apply for an EIN (Employer Identification Number). Get necessary licenses or permits.
7. Build Your Brand - Create a name, logo, and slogan. Build a simple website and social media presence.
8. Set Up Operations - Find a location (physical or online). Set up accounting systems. Build relationships with suppliers or partners.
9. Launch and Market - Plan a launch strategy (soft launch, grand opening, beta release). Promote using digital marketing, PR, partnerships, and community outreach.
This looks like a lot but you can do it! How do you eat an elephant? One bite at a time!
Good Luck!
Charlie
Daniela Shtereva
Project management
10
Answers
Sofia, Bulgaria
Updated
Daniela’s Answer
Hi Jackson,
I suggest checking out online courses on entrepreneurship and business administration. These courses can really open up new opportunities for you and provide the tools and knowledge you need to grow. There are many online platforms offering courses, including free ones. For example, the HP Life platform offers free courses where you can learn important skills like marketing, finance, and business. Here's the link: https://www.life-global.org/.
Good luck with your journey—you've got this!
I suggest checking out online courses on entrepreneurship and business administration. These courses can really open up new opportunities for you and provide the tools and knowledge you need to grow. There are many online platforms offering courses, including free ones. For example, the HP Life platform offers free courses where you can learn important skills like marketing, finance, and business. Here's the link: https://www.life-global.org/.
Good luck with your journey—you've got this!