DefineIt

 

Step 1: Define It
Step 1 is to articulate your idea in business terms and structure by answering 8 key questions about your idea or concept. Once the Define It step is completed, you will know what the business is about (i.e. the need it is meeting/problem it solves, what differentiates your business from your competition, and how the business will generate income).

Step 2: Research It
Research is the key that guides your decision making, identifies opportunities in the market and the helps you develop strategies to beat the competition. In Step 2 you learn how perform effective market research.

ResearchIt

PlanIt

Step 3: Plan It
The first person your plan has to convince that the business is a worthwhile investment is YOU.

In Step 3 you will develop the three elements of your business plan: Marketing Plan, Operations Plan & Financial Plan.

Step 4: Stage It
Now you have to identify & secure financing, find a location if appropriate, create your branding and more. It's time to put into place what's required to establish your business.

stageit

Step 5: Start It

There is one critical consideration that remains; planning is one thing, executing is another. Clearly defined goals and action steps, assigning who is responsible for what and designating a time frame for activities to be completed are the keys to execution.

Setting goals, hiring staff and day-to-day management are covered in this final module.

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