Starting your very own business is a thrilling experience as it represents the beginning of a new chapter with endless possibilities especially in the field of concrete estimating. Whether you’re offering a product or service, however, it’s vital to start things off in the right way to give yourself the best possible chance of achieving those aims.
The business plan writers can help you with your business plan which provides you with a rough draft of what you wish your final products to look like as well as a foundation from which you can build in the short and long term. Making it as clear and well-structured as it can be is the best thing that you can do for both yourself and your customers. It should include:
Your mission statement
Here you should identify your business’s purpose, values and goals for the future. For what does your brand stand? What do you hope to achieve? Where do you see your business going in the next 6-12 months, or further? This should also be short and sweet – the general rule of thumb is not to exceed 100 words.
Perhaps start with a creative brainstorming session on your business goals and turn these into objectives using the ‘SMART’ framework. These are things about which you may find yourself gaining more clarity and understanding later on in your business journey but, the more that you can put down at the start about possible timeframes and specific requirements, the better.
Focus on the questions of What, How and Where. Think about your mission statement and your main objectives; how are you going to archive these? Conduct a SWOT analysis (evaluating your strengths, weaknesses, opportunities and threats) as well as defining your objectives and writing out your action plan. What are your next steps? Where do you want to get and where do you need to be in order to get there? How will you put yourself in that position?
Once you have the basics of your business plan ready to go, it is a good idea to start to think of how you will market your business to attract customers and build up brand awareness.
Identify your target market
Who are your target customers? How old are they? Where are they from? What do you know about their lifestyles and spending habits? This is the sort of research that you should carry out to find the ideal demographic for your business.
Analyse your competitors
Looking into competitors and brands that you like or admire is very helpful to guide you at this stage. Investigate to whom your competitors are marketing their services – but also try to identify what makes your business stand out from their offering. Maybe your products are of better quality, maybe they’re cheaper, or maybe they have a unique feature that enables alternative uses.
It’s also important to compare your branding and presentation to your competitors’. Are your graphics visually appealing and do they represent your business in the best way?
Choosing the right social-media services on which to establish a presence is also key, as they will be vital tools to reach potential consumers. This decision should rely on your target-market research – if you know that most of your potential clientele is primarily on Instagram and TikTok, don’t focus on Facebook! You can also consider what role email could play in your marketing strategy.
Finally – but perhaps most importantly – you must take into account the cost of everything that you’re planning, including branding, website design, product resources and much more. Don’t forget that you can look for free solutions in some cases, such as design software, while you get set up.
Consider your financial situation
When setting up your business, you need to know that you can afford everything that you’ll need to succeed. Make sure to assess your current financial situation and budget so that you can still live comfortably. You need to consider not just incomings and outgoings – when your rent is due, how much you spend on your weekly shop, how much profit you can expect to make and so on – but time management as well.
It can be hard to get on top of such things but it’s vital to fully understand your financial situation before you start paying to set things up. If you expect a lot of upfront costs, consider whether a loan might be the best way to kick-start your business. If your business plan shows a clear route to success, then you should be well positioned to make repayments using the profit that you make.