Writing a business plan with two objectives?
fugate650 subscriber Posts: 1
edited September 2008 in Business Planning
I am going into a partnership with a friend of mine. We are creating a home-based t-shirt company. We want to do online novelty selling and face to face company selling. When I say company, I mean put in bids for local small business`. When we started to draft our business plan, we were finding it hard to match the two. Online consumer novelty has a different, approach, demand, market and sales strategy than selling to a business for their company shirts. At first we started thinking to just make the business plan according to the selling to companies end and not include the online. Then we thought it should include both. We don`t know how to handle this. Should we just make 2 separate business plans. And also, we plan to eventually phase out the selling to companies end of it once we are up and going. Our main focus is going to eventually be the online novelty.
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Those are hard decisions to make. I think you can depict both of those sales channels into one plan. However, if you are planning to phase out the "company" channel anyway then perhaps you might be better off if you just focus on the "online" piece to start with. In my experience it`s better to have a laser focus on your target customers and distribution channel right out of the gate.
Feel free to email or call me to talk about your options. (By the way...I`m not trying to sell you anything)
I encourage entrepreneurs to remember they only have 24 hours in the day. So, with that said, will pursuing the "small business" channel distract you from accelerating your "online" channel? Also, which channel has better margins? Which one is the easiest to enter? It sounds like the "small biz" channel might be the low hanging fruit. If you can leverage that channel without it distracting you from your real strategy then go for it. But, if it will slow down the speed of growth of your "online" channel then perhaps you should reconsider.
Regarding having the two channels in the plan, Craig and I agree. Depict both channels but perhaps outline the "small biz" channel as a bootstrap strategy to drive quick sales so you can execute the longer term strategy.