Starting Advise from a great Brit #2
Key Factors for Starting a Business
– Create a Biz Plan so you and others can objectively determine the feasability & where changes need to be made
– Ask for Help from those best able to give you good advice.
– Plan the steps of the processes needed from your Vision
– Decide on what Values you want to emphasize in your organization
– Plan your Financials to know how much you expect to bring in and where the money is going out on expenses. Review this each quarter and adjust accordingly.
– Optimize your Time, by pre-qualifying your Prospects, so you’re spending your time with those that are most likely to become Customers.
Steps of Starting
1) create a Vision, if you haven’t already
2) Share you Idea with “trusted” Friends, those in your Network & Advisors
3) Ask potential Customers what they want
4) Determine the Niche & size of Market
5) write your Exec Sumry & Biz Plan. Share your Plan as above in (2)
6) Just Get Started. Begin development, select Founders to form an Executive Team.
7) When development complete, have a potential Customer “test” your product or service.
8) make Modifications (that you agree with) from recommenda-tions from your trial.
9) Launch your Product to the most-likely Prospects.
10) Get Feedback on their “satisfaction
11) Once you have resolved any issues, Launch your Product to the larger market
12) Periodically get Feedback on Customer’s “satisfaction”. Adjust accordingly.
13) Monitor the Performance of your Operations. Adjust as necessary.
14) Monitor the Market, to determine if there are new opportunities you can supply
For more information, contact Nigel@ReclipseGroup.com to help you Start or Grow your Business. Also contact Peter/CXO 5 Start Startup Services (thru Contact form on this site), for help with your Exec Sumry, preparing your Pitch or finding Funding.
Comments: Anything you can add to this?