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Biz factory how to grow a business
- 4. www.bizfactory.ro First of all, you should have the idea! THE BIG IDEA
- 5. www.bizfactory.ro • • • • Why are you here? Is it your idea profitable? Is it authentic? How it’s recording to the market?
- 7. www.bizfactory.ro • • • • • SWOT Analysis Market Analysis Competition Target activity Industry
- 8. www.bizfactory.ro • • • • • • • Who is your target market? Profile of the people? What is their behavior Any complementary products or services? How large is your market? Growth rates? What are the trends in the market? How do you see the market evolving?
- 11. www.bizfactory.ro • • • • • • • • • General Company Description Products & Services Define Target Marketing Plan Operational Plan Management & Organization Personal Financial Statement Startup Expenses & Capitalization Financial Plan
- 12. www.bizfactory.ro • • • • • • • • Mission, vision, values SWOT Analysis Market Analysis Company Goals & Objectives Define target (clients) Business Philosophy Brief description of the products & market Short description of the industry
- 13. www.bizfactory.ro • • • • Define products and services Establish prices Competition research Market research
- 14. www.bizfactory.ro • Who’s your ideal client? – Your ideal client is a profile of the perfect prospect around whom you want to build your business – Your target market is the real-world pool of prospects to whom you’re going to market in order to attract those ideal clients and get the meeting. – For some people, the ideal client is simply the most affluent individual possible.
- 15. www.bizfactory.ro • • • • • • • Detailed note on how you will convert large market into revenue market Provide different marketing tactics–cheapest to most expensive Costs and strategy of acquiring customers Sales and Marketing strategies Respect your competitors Risks and Unknowns Strategies for reducing risk
- 17. www.bizfactory.ro • • • • • • The nuts and bolts–how will you make it? How will it be available to your customers? What’s involved in running the company? Location, equipment needs Labor requirements Risks at different levels and how best to mitigate risks
- 18. www.bizfactory.ro • • • • • • Detailed numbers not the key Assumptions very critical Key drivers of revenue Realistic projections Exercise prudence Benchmark your model
- 19. www.bizfactory.ro • • • • • Provide CVs of the key members Relevance of past experience Start-up experience Market creation experience Team dynamics – very critical when more than one founder; Clarity of roles • GREAT TEAM + MEDIOCRE PLAN > MEDIOCRE TEAM + GREAT IDEA
- 20. www.bizfactory.ro • You should consider all the personal financial statement that is mandatory for the good working of the company.
- 21. www.bizfactory.ro • You should have the business plan with all the cashflow: in and out. • The cashflow should include all the startup expenses and all the monthly expenses. • You will consider the capitalization of the company vs. expenses of the company
- 22. www.bizfactory.ro • • • • • • • • • Cashflow projection Target Detailed numbers not the key Assumptions very critical Key drivers of revenue Realistic projections Exercise prudence Bench mark your model Funding based on 18–24 months projections
- 23. www.bizfactory.ro • • • • • • • Revenue estimate : bottoms-up Expenses–pastand/ or industry average Funding Capital–internet time delivery Brand building Scaling the business Till customer traction? projections?
- 25. www.bizfactory.ro • Loan • Own money • Investor
- 26. www.bizfactory.ro • You should do business with people you’re confortable with • Win – Win Partnership
- 28. www.bizfactory.ro • • • • Find office Find lawyer Find company name Choose bank
- 29. www.bizfactory.ro • • • • • • Lawyer Define activities Define caen codes Define owners Define administrator/administrators Social capital
- 31. www.bizfactory.ro • • • • • • • • Stamp Bank account Take all the authorization Define activities Define caen codes Define owners Define administrator Social capital
- 32. www.bizfactory.ro • • • • • • • Phone Phone connection Transport Office Electricity Email Accounts + Hosting Laptop • • • • • Laptop Internet Fax Online Banking Employees
- 36. www.bizfactory.ro • • • • Logo Agency presentation template Business Cards Website
- 38. www.bizfactory.ro • Marketing Plan http://www.bizfactory.ro/strategii-de-marketing.html • Implementing marketing plan
- 40. www.bizfactory.ro • • • • • Employees Work Clients status Contracts, Pipeline, Potential clients Cashflow projection (in and out) Invoices and payments
- 42. www.bizfactory.ro • You should optimize constantly the marketing campaigns, being sure you will have the best results. • You can do testing campaigns (On Google), sending the traffic equally to more than one campaign, choosing the one that has better results. • You optimize in this way your campaigns, having better and better results.
- 44. www.bizfactory.ro • All the time you should think in terms of return on investment. • You should take into consideration all of yours costs, and what margin do you have for each product/service you sell. • In this way, you will choose only the channels that brings you profit and big return on investment.