- Total posts: 46
Sounds like you’ve embarked upon an exciting venture…!
Plenty of good advice above. However, I’m feeling that you need to undertake a higher level analysis before taking the ‘deep dive’ to the detail…
Firstly; challenge your business model. Retail sales may not be the most cost effective way to get this particular product to market… Retail is (per product sale) expensive… You may find you’re better off setting up the logistics/importing side of the business and (instead of retail) act as a distributor for the product. This would involve significantly less overheads and increase your potential for a higher volume of sales…
Secondly; Business Plan, do it…!
I know, I know, sounds all too hard… not anymore – Check out this link http://www.entrepreneur.com/formnet/form/454. It’s a very simplistic Business Plan Presentation, simplifying the typical business plan into a 10 page splash (instead of a 40 page headache).
I’ve also attached my one-pager version I populate when framing up a business opportunity…. (couldn’t upload .ppt so it’s a .pdf)
Start by filling in the one-pager, just to get your idea ‘down on paper’ and to challenge the depth of understanding of your idea, then populate the presentation with all the lower level details – adding slides where appropriate…
Don’t look at the business plan as the place to dump everything you already know about your idea. Although it will support this, the real benefit is that it will prompt thought and challenge you to investigate the stuff you hadn’t yet considered….
Look forward to hearing more of your venture as it progresses…!