Before you officially launch, these crucial steps will help you lay a strong foundation for your business. Think of this as your pre-flight check for entrepreneurial success.
1. Product/Service & Purpose
- Define Your Offering: Clearly articulate the specific services you’ll provide or products you’ll sell. What problem(s) are you solving, or what need(s) are you fulfilling?
- Clarify Your “Why”: Beyond profit, what’s your core motivation? Understanding your purpose will guide your decisions and inspire your journey.
2. Sales Channels
- Determine Where You’ll Sell: Identify the primary platforms or locations where your customers will purchase from you.
- Online: Will you use your own website, e-commerce platforms like Etsy or Amazon, or other digital storefronts?
- Physical Store: Are you planning a brick-and-mortar boutique or storefront?
- Events: Will you participate in trade shows, markets, or pop-up events?
- Other: Consider social media platforms directly, or other unique channels.
3. Strengths & Weaknesses
- Identify Personal Strengths: List your inherent talents and developed skills (e.g., organizational abilities, strong communication, creativity).
- Acknowledge Weaknesses: Be honest about areas where you might need support (e.g., accounting, web design, marketing, social media management, conflict resolution).
- Plan for Gaps: Determine if you’ll address weaknesses by developing new skills, finding partners with complementary abilities, or hiring specialized help.
4. Customer Journey
- Define Your Ideal Client: Who are you trying to serve? Understand their demographics, psychographics, and most importantly, their “pain points” that your business can solve.
- Discovery:
- How will your ideal customers first find out about you (e.g., online search, social media, word-of-mouth referrals)?
- What’s your strategy to connect with them initially (e.g., email list sign-ups, social media engagement)?
- Engagement:
- How will customers interact with you before making a purchase (e.g., consultations, discovery calls, free trials, content consumption)?
- Purchase:
- Describe the buying process. Will it be through an online store, in-person sales, a service contract, or another method?
- Post-Purchase:
- What happens after the sale? Plan for follow-up emails, additional offers, newsletters, or loyalty programs.
- How will you encourage and collect valuable customer reviews and testimonials?
5. Goals & Milestones
- Define Long-Term Goals: Set ambitious yet realistic visions for your business’s future.
- 5-year goal:
- 3-year goal:
- 1-year goal:
- Set Short-Term Milestones: Break down your larger goals into actionable steps to track progress and stay motivated.
- 3-month goals:
- 6-month goals:
- 9-month goals:
- Consider Your Exit Strategy (Even Now): While it might seem premature, briefly contemplate your long-term vision. Do you aim to build a business to sell, pass it down to family, or maintain it indefinitely? This early thought can influence critical decisions.
6. Branding & Visual Identity
- Develop Your Brand Essence: Create a mood board or list the core elements that will define your brand’s personality and appearance.
- Colors & Fonts: Choose a consistent palette and typography.
- Logo: Start conceptualizing your brand’s visual cornerstone.
- Overall Branding Style: Define the aesthetic and feel of your brand.
- Craft Your Brand Messaging: These statements encapsulate your business’s core.
- Mission Statement: Your business’s purpose and what it does.
- Vision Statement: Your aspirations for the future.
- Brand Promise: What your customers can expect from you.
- Commitment to Customers: How you’ll uphold that promise.
- Tagline or Slogan: A memorable phrase that captures your brand’s essence.
- “About Us” Narrative: How you’ll tell your story.
7. Business Name & Online Presence
- Brainstorm Names: Generate a list of potential business names.
- Check Availability Carefully: Before getting too attached to a name, check its availability across key platforms.
- Pro Tip for Name Checking: Be extremely cautious when searching for domain names or social media handles. Bots can sometimes detect interest and buy up names to sell back to you at inflated prices. We recommend having several ideas ready and only checking their availability when you’re prepared to purchase immediately.
- Secure Your Online Footprint:
- Domain Name & Hosting: Purchase your desired domain and secure reliable web hosting (e.g., HostGator, GoDaddy, Wix).
- Social Media Platforms: Reserve your business name on relevant platforms like Facebook, Instagram, LinkedIn, etc.
- Online Marketplaces: If applicable, secure your presence on platforms like Etsy or Amazon.
- Other Platforms: Consider YouTube, podcasts, or industry-specific sites.
- Aim for Consistency: Ensure your chosen name, or a close variation, is available and used consistently across all platforms for strong brand recognition.
