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Reply by Jeff_m

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Posted on Figuring a business plan.

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Jeff_m

1 post in 2817 days


#1 posted 03-30-2011 03:43 AM

Starting a business can be pretty daunting, and I do think it’s best to get advice from as many people as possible on the topic. What works for one, may not work for others.

One of the things that you have to do, is identify your customer base. If you are selling cutting boards, this base will be much broader than it would be if you’re selling high end furniture. Knowing that up front will save you a ton of money in marketing costs.

Know your competition. If there are 50 people doing the same thing you are, you’ll have a much harder time setting yourself apart. If the competition is using all hardwoods, and you’re using exotics, that’s a fairly good separation, and you can capitalize on that..if there’s a market for it.

Know what sells, and what doesn’t. There is often a divide in making what you love, and making what people want. It sounds silly, but it’s a fact of life. People will drool over fine craftsmanship, but walk away if they don’t have some practical use for it.

If you’re going to do a website for your business, keep it clean and professional. People can and will decide in the first 10 seconds if they want to do business with you. A bad website, bad grammar, bad pictures, Etc will send people packing regardless if you do go work, so have people look things over before you launch it.

Best of luck to you.


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