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We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
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Quick tips on setting up an Online Business .
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1. Plan your business
Like any business, you’ll need a plan. Your planning process should include thorough market analysis, plans for how you’ll fund product production, and perhaps a SWOT analysis to begin your planning process.
2. Write your business plan
Once you’ve done a bit of preliminary planning, it’s time to write your business plan. Unless you’re asking for funding from the bank, an investor, or have a similar “business plan event” coming up, you’re better off sticking to a lean business plan. A lean plan is quicker and easier to write, and distills your plan down to the essentials.
3. Register your domain name and set up your website
If you’ve chosen to set up your own eCommerce site outside of a platform such as eBay or Etsy, you’ll want to make sure your chosen domain name is available and ready for use. Once you’ve secured it, the process of setting up your business website begins. You can choose to outsource this to a professional, or DIY it with our handy guide.
Hope this has been helpful so far
Like any business, you’ll need a plan. Your planning process should include thorough market analysis, plans for how you’ll fund product production, and perhaps a SWOT analysis to begin your planning process.
2. Write your business plan
Once you’ve done a bit of preliminary planning, it’s time to write your business plan. Unless you’re asking for funding from the bank, an investor, or have a similar “business plan event” coming up, you’re better off sticking to a lean business plan. A lean plan is quicker and easier to write, and distills your plan down to the essentials.
3. Register your domain name and set up your website
If you’ve chosen to set up your own eCommerce site outside of a platform such as eBay or Etsy, you’ll want to make sure your chosen domain name is available and ready for use. Once you’ve secured it, the process of setting up your business website begins. You can choose to outsource this to a professional, or DIY it with our handy guide.
Hope this has been helpful so far
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How to Write a Business Plan
Every business needs an efficient business plan. It plays a vital role in the organization by providing direction to the visitors. But the question might arise, how to write a Business Plan? Below we have complied few tips on how to get started with writing a Business Plan.
Explain that you care
Plan needs to showcase your passion and dedication. It must focus on what you care about, problems you deal with and the mistakes you have learned. Describe your values, morals and establish what makes you stand out from the competition.
Adaptable to Audience
Potential readers of your business plan might vary. Although there is a diverse group of audience, each reader possess typical interests. Ensure you know them upfront and take into account before preparing a plan. The plan must remind them of their objectives and must be modified depending on their tastes and preferences. However, make sure to keep the data same across the board.
Strategic Marketing Plan
Business plan must also include a strategic marketing plan in place. It must achieve the marketing objectives such as boosting sales, cross-selling products, long-term contracts, raising prices, content marketing, enhancing the delivery, etc. Each objective must accompany with a goal.
Also ensure to create separate budget for this internal as well as external costs of the marketing.
Document the Aspects
Only when your business is going to make money, then only investors will be interested in your concept. They want to in and outs of your business, process and everything. Therefore, you must document your cash flow, expenses, working methodology, strategy and licensing agreements.
Design a Profile
Company profile must be the first written part of the plan. It must include the history of your organization, products you offer, target audience, resources and unique business ideas. The About page must speak about all the mentioned elements. It not only attracts the possible customers but defines your company. This step makes it whole lot easier for further processes.
Purpose of Plan
A business plan must describe the nature of the business, marketing strategy and background. It serves different purposes, hence, must provide direction for the future. It must target the investors in a clear and concise way.
Conduct Research
Analyze your market, expertise and conduct research accordingly. Spend ample amount of time in evaluating and thinking the outcomes. You are solely responsible to know about your business, industry, audience well before starting with a plan.