I hear you’re thinking of opening your own business.
How hard can it be, you may wonder?
Well, totally not to be that gal, but building a business takes more than some sugar, spice, and, of course, Grandma’s Cheesecake Sandwich recipe.
The goal of this blog is to provide some clarity to potential entrepreneurs about their future endeavors.
The very first thing you need to consider when starting a business is this:
Why do you want to open this business? What’s in it for you?
Not really.
Running your own business takes a lot. As an owner, you are going to be tested more times than you ever were in school. And this time, you don’t get multiple-choice answers.
You need to become deeply acquainted with your product and feel so passionately for your vision that you stick with it, even in the hard times.
‘Till death do you part and all that jazz.
How romantic.
A plan if you will.
Your business plan is going to determine everything when it comes to your business. In order, you need to write: an executive summary, a description of your company’s products and services, a market and competitive analysis, a financial plan, and an implementation plan.
You’ve got some work cut out for you and unfortunately, I cannot hold your hand. It’s up to you to do your research and write your plan.
Let me throw you a bone. Here are some questions to consider when drafting your business plan.
Where will you receive your funding from?
What kinds of setup fees must you be aware of?
What kinds of equipment/facilities will you need to conduct business?
How many employees will you need and how will you vet their competence.
After considering the barrage of questions, I just threw at you, you need to create your marketing plan. Your marketing plan should, of course, reflect the goals and values you established in your business plan.
Your marketing plan is all about getting your intended customer base to purchase your product. You can’t change any lives with your product if people don’t know it exists.
This should cover your branding, advertising, and any important product details. What makes you different?
For example, at Grandma’s Cheesecake Sandwiches, our products are made from scratch, with fresh ingredients. Also, our titular product, the cheesecake sandwich, is something never seen before.
Our delicious cheesecakes lie between two cookies, which is not only convenient for eating but also completely revolutionary.
Know your product and play to your strengths to penetrate the market.
But what about the things you can’t plan for?
Be prepared to be unprepared.
Running a business often looks very different than the nice and neat plans you’ve drafted up for yourself. Entrepreneurs must always be ready to lose money before they gain any.
You gotta give a lot to get a little.
So, with so much to consider, what’s the recipe for success? You’ll need the three Ds: due diligence, determination, and some damn luck.
Now, if I haven’t scared you off yet, you may have what it takes to really make it as a business owner. Congratulations!
Legal reasons.
You get it, right?
And if you want to see how we run our small business, you can stop by Grandma’s Cheesecake Sandwiches at 12-40 Clintonville St., Whitestone, New York.
Grandma’s Cheesecake Sandwiches are available on Goldbelly and UberEats