Some experts says that having a clear and strong business plan is the best DNA to create a new company. If you have an idea to be considered unique and needed, but don’t know how to start to develop it, we share with you five steps that can set it on and do not fail trying.
- Identify and study the market you are aiming to
if you already have a clear idea of what you want to develop, being a good or a service, we recommend you to start studying the niche you want yo aim to, meaning that, those possible buyers might want to acquire or invest in your business.
You can ask to your friends or make surveys on Drive and promote them on social networks. Focus in the needs that those people have regarding things that you want to sell. If you see that people is not satisfy for “X” or “Y” factor, that might be an opportunity to improve in your business.
- Analyze which is the factor that marks the difference of your product
According to the Instituto Tecnológico y de Estudios de Monterrey and Entrepreneur website, it is important to have into account and study the following:
* Social tendencies: Is the target public in the zone where you want to sell?
* Competency weakness: Analyze the things that you don’t like about your competitors, so you can use it in your favor on your business.
* Observe the absence of the product: This refers to observe if the product exist or not in the zone your want to sell it.
- Specify how the product is and how much money you are willing to invest
You must take into account if this new business is going to be your main source of incomes or if it is a business to generate additional incomes.
For this you can take part of your time to design the product that you want to sell. If it is something that already is in the market and you want to distribute it, we recommend you to do a budget of how many units you want to sell.
Different from that, you can be creative in the packets, about how to offer the products, if you want to use boxes or bags, or if you want them to be Eco-friendly. Every detail that you want to add would have a cost. Make a list and have a calculator and pencil by hand so you can specify everything.
- How are you distributing the product or service?
If you already did the previous steps, it is the time to think about how you are distributing your products or services. Thanks to the constant technological advances, one good alternative are the virtual stores or websites.
One platform that dedicates to help those people interested in creating their first website is Yipaoo. They will guide you to create your own virtual store in less than an hour.
So, you can enjoy the personalized designs to reflect your own style in the brand you are developing. Also, they offer three packets for you to start that business with the site you always wanted.
- Be on training
We recommend you to constantly be on the search about improvements that your product might have in the market. This would help you to keep your business up to day, bring more clients and, therefore, earn more money.