Have a road map: Starting a business a formidable task


By Rebecca Maitland, Correspondent

Published 10:25 am CDT, Monday, October 28, 2019





Support is necessary. Building partnerships to support your business will be important. Photo: Shutterstock

Support is necessary. Building partnerships to support your business will be important.

Support is necessary. Building partnerships to support your business will be important.

Photo: Shutterstock



photo



Support is necessary. Building partnerships to support your business will be important.

Support is necessary. Building partnerships to support your business will be important.

Photo: Shutterstock




Have a road map: Starting a business a formidable task

Starting a business can be a formidable task, but if a well-established plan is followed, your confidence should increase as you move forward.

First, there are three main ways to structure your new business: operationally, financially and legally, all of which will be part of your overall business plan.

Operational structure

1. Strategies: Define your niche, who clients will be, solutions to solving clients’ problems within your niche, and have a planned script to draw them to action. 2. Sales will be the life blood of your business: How will you reach and market your services or products to clients? Develop information for sales that creates interest in your service or product. 3. Inventory: How will you produce, purchase, or manufacture products? If a service is your business, how many clients can you serve daily and how many employees will be needed to grow your business? 4. Support: Having a mentor or coach who has been successful in business will help keep you on track and engaged. Also, building partnerships to support your business will be important. 5. Sustainability: How will you move from Day 1 to the future? How will you track trends, changing clients’ wants and needs,