Where to start your business: strategy

You have decided to create your own business, but so far you only have an idea in your head. Let's figure out how to turn this idea into a program of action.

The company's strategy is a general, master plan. She answers questions:

1. What am I going to create? What will my business be?
2. Who am I doing this for? How can I improve the lives of these people?
3. How can I stand out from the competition? What is unique about my offer?
4. What is the potential of my business? What are the threats and opportunities? How will I proceed if business conditions change significantly?
5. What results do I want to achieve in a few years?

Consider the company's strategy on the example of an online chocolate store. Suppose you decide to sell sweets online. The idea is doomed to success, because everyone in the world loves chocolate, you think. Is this true and how exactly to implement a brilliant idea?

one.Explore the Market

Before starting a business, you need to understand if it has potential. Study supply and demand.

If a product or service is in demand, the demand for them grows, it makes sense to enter this market.

On the other hand, if there are already a lot of offers in this market and there are more every day, then the competition is high. All work on the verge of profitability, it is difficult to get a profit.

Sales of chocolate and sweets in general practically do not change from year to year. At the same time, more and more people are making purchases via the Internet, and online sales are growing at a gigantic pace. There is potential.

There are only five specialized online sweets stores in your city. This means that you can win back your share, and profitability, most likely, is still acceptable.

But you have much more competitors: these are also confectioneries, gift shops, supermarkets, as well as private craftsmen who make sweets to order. To take your place among them, you need to offer something new and different.

2.Choose your clients

Among the many potential buyers, you need to choose your target audience and focus on it. Don't try to include everyone. Find those whose needs or desires have not yet been met by current salespeople and focus on them.

Get a feel for your potential customer. What need can you fulfill? How do these people think? Where do they shop? What are their characteristics and behaviors?

There are a lot of sweet-toothed people who love chocolate - in fact, all people from 1 year to 99 years old. Among them, 40% are young and middle-aged people, active Internet users: they appreciate it for the speed and convenience of shopping. In addition, the Internet is usually used also for entertainment.

Among the entire Internet audience, a separate group can be distinguished. These are people who want to stand out, like to give non-standard gifts, to the creation of which they put their strength and creativity. Let's assume that they make up 20% of Internet users. These people will be your target audience.

3.Formulate an offer

To stand out from the competition and best meet the needs of your target audience, formulate a unique selling proposition (USP) .

Think about how you can implement it: on your own or with the help of suppliers or business partners.

For example, you will cook chocolate according to the unique recipes of your grandmother, who uses natural dyes to color it and add unusual ingredients: cloves, sea buckthorn, carrots, red peppers.

At the same time, you will offer your young customers who love creativity and entertainment not only to buy ready-made chocolate, but to become its co-author: choose a pattern, color, taste and packaging. To do this, you will make a special constructor on your site.

At the first stage, suppose you can produce such chocolate yourself, and when the volume of orders increases, attract a small private factory.

4.Assess the potential