First Down Funding fights Covid-19 for your Small Business. Read more

Apply Now! Learn More Contact Us

(866) 644 1353

CHECKLIST FOR A SUCCESSFUL BUSINESS

July 4, 2016 7:13 pm Published by Leave your thoughts

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.
Tags: , ,

Categorised in: , ,

This post was written by fdfadmin

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Alert: Content is protected !!