Launching Your Business

What is the process behind launching your own business? Find Out!

Depends on what kind of business you want to launch, but typically for most of the start-ups and small business the following action plan would be applicable!

1. Take some time to brainstorm

A great small business always starts out as an idea, but you have to transform that idea into action. Your job now as an entrepreneur is to come up with answers to every question a stranger or potential investor or partner might ask you
.

• Who is your target audience?
• Who are your competitors?
• What is your vision? What do you think the end result of your business will be?
• Outline your basic strategies. How are you going to achieve the objectives you have planned?

2. Write a one page business plan

According to the U.S. Small Business Administration, the main parts of a business plan include the executive summary, a company description (what makes the company unique), a market analysis (the competition and target demographics), the company's structure, a description of the service or product line, the marketing and sales strategy, financial projections -- plus any additional useful information.

You can find a business plan template in Entrepreneur.com

P.S. with the above link you can find also much more helpful templates e.g. NDA template, invoice template, partnership agreement, P/L Statement template and etc

P.P.S. While writing a business plan is certainly helpful, the real value is not in having the finished product in hand, but rather in the process of researching and thinking about your business in a systematic way

3. Gather necessary resources

Create a list of everything you’ll need and its approximate cost, Whether it’s an office space with a new desktop and printer or a warehouse to hold the products.

You have to gather and list also all the resources that you may need in the future including legal help, tax accountant, future employees and etc

4. Launch a website

Regardless of whether your business will be brick or mortar or online, you’ll need a website and that means securing a URL.

Drag and drop website builders like Ucraft would cost you as less as $8/month

All other communications with your clients should have a cohesive feel as well. Use the company's brand colors and Ucraft’s free logo maker to create an outstanding logo, letterhead and email signatures to demonstrate to customers a professional operation.

5. Test sales

Above anything else, what most small business owners want is to gain more customers and make scalable sales funnels.

Your small business sales funnel shouldn’t be static. Even if you create one that works really well for you and brings in a good percentage of paying customers, keep tracking its results and testing new approaches. Not all of your tests will bring positive results, but with each new test you’ll learn more about what works and what doesn’t work for your sales.

Hope this helps!

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