Typical Start-up Business

Posted by in Enjoy Your Job or Start a Business

I have begun working with a typical start up business beginning with their business needs analysis. What I have found they need is just like the others I have worked with. Here is the business needs letter I gave to them with recommendations to develop their business. Maybe you are in the same situation and need to follow the recommendation to develop your business.

Based on our discussion I think you two have a lot of room to grow your business. I believe if you put the work in you could be running your business full time in at most 2 years making a profit that will support your lifestyles. The main step you guys need to take is making phone calls and, meeting with people. You need to get your brand out there; your potential clients are not going to find you. I recommend that you make a list of people/businesses to call or meet in person. Every day take 10 people from that list and call or go see them. Your goal is to show them examples of your product. You need to create a binder that has pictures of your work and a couple of pens to show your potential clients.
Next you need to have a contract made. This can be from a lawyer or from a legal form website. This contract should have language in it that keeps you from doing work and not getting paid for someone else’s mistake like the Mustang guy.
You need to define your Niche. If you try to be everything to everyone you will be just another laser etch company. You need to stand out and become the expert in some aspect of laser etching. What that aspect is is for you to decide. I recommend finding an area that you enjoy working with; an example would be cars or sports.
You need to create a budget and define an exit strategy. The budget is to make sure you have plans for money you spend in the business so it does not get wasted. The exit strategy should define that you will leave the business in certain cases. An example is if you do not make a certain amount of money or after a certain amount of time not making money. This will keep you from wasting time and money on a failed project. You need to define failure.
Finally you need to complete your business plan. You both are not on the same page for the direction of the business. If you do not align your goals with the business you are like two horses pulling in opposite directions. Not going anywhere but potentially hurting yourselves.