CHECKLIST FOR A SUCCESSFUL BUSINESS

July 4th 2016 at 7:13pm Published by firstdownadmin

ENTREPRENEURIAL CHECKLIST FOR SUCCESS

There are several frameworks you can use to assess and develop your business strategy. The process of developing the right strategy involves asking the right questions and coming up with honest, complete and effective answers.

Here is the checklist :

• Do you have a viable product with a clear strategic fit in the market?
• Is there a definable target client?
• Is there a clear definable need? Is it big enough?
• Can you profitably deliver the product at a competitive price?
• Do you have a clear win that can differentiate you from competition
• Can you defend your position over time?

• Do you have a complete business / strategic plan?
  Strategic fit (above)
  Goals & objectives
  Strategies and tactics:
  Product
  Pricing
  Advertising
  Promotion
  Distribution
  Service / support
  Resources / financial requirements:
  Expenses
  Capital
  Projected financials
  Action plans – who does what when
  Contingency plans

• Do you have the proper leadership?
  Proven experience

• Do you have the proper talent on your team? (discipline, capability, and balance)
  Marketing
  Development
  Sales
  Operations
  Finance

• Do you have proper funding and financial relationships?
  Equity
  Debt / banking
  Grants, other

If you’re looking for funding for a new or existing business, you need a business plan. Your business plan gives lenders and investors the information they need to determine whether or not they should consider your company.

Your business plan outline is the first step in organizing your thoughts. And, when you follow the outline below, you ensure your business plan is in the format that prompts investors and lenders to take action.

Your business plan should include:

1. The Executive Summary. 
2. Business Overview. 
3. Operations Plan. 
4. Market Analysis. 
5. Products and Services. 
6. Sales and Marketing. 
7. Competitive Analysis. 
8. Management Team.