Strategy for Starting the Business
By: Stenly • Essay • 664 Words • March 24, 2010 • 1,027 Views
Strategy for Starting the Business
Strategy for Starting the Business
Initial Startup Phase ( est. 1 month)
· Need to make up some sample parts
· Decide what types of parts we want to make and how many for samples
· Price out the material and buy it accordingly (we will pay for it between the 2 of us)
· Go into the shop on a weekend and make the samples up
· Research e-bay on the different ways in which we can post them to maximize our money
· Research any other means of posting for bids etc.
Research/Investigation Phase (est. 1 month) (based on positive results from the initial phase)
· Continue to post on the web, to keep a money flow coming in.
· Pay ourselves back for the material bought and invest in some more material
· Use the money made from initial phase to buy magazines
· Look at the different places that people advertise
· Look at the different designs of product out there
· Look at the different types of products that we could easily replicate and mfg.
· Develop a pricing and cost strategy for the parts we want to focus on.
· See if there are motorcycle shows or something where we might go to get marketing ideas and possibly handout fliers and show off samples.
· Buy up some more material and make some more parts if we are a little steady from the web.
· Investigate shipping and the associated charges of doing business.
· Look on payment terms etc.
· Do we want to use credit card machines and how accepting credit cards are handled
· Do we want to do COD
· Do we want to do cash up front
· Eventually possibly turning to doing payment terms with distributors?
· Look into the web to see any value in a website.
· What are the benefits?
· What are the drawbacks?
· Look to see where else we could get our product out there (possibly through a distributor)
Compile/Startup Phase (est. 1-3 months)
· Continue to post on the web and making parts to fill orders and to keep some money coming in.
· Based on the results gathered from the previous phase, make a determination on the best way to progress.
· Determine if we want to do a mailing to distributors
· Determine if we want to start a business
· Determine a company name, logo, mission, and vision statements.
· Do the research on what needs to be done and complete all the necessary transactions to get a company started.
· Start a checking account
· Write up an agreement we both agree upon with regards to the business
· Determine what investments we need to help the business run
· Software and computer products
· Paper
· Ink
· Envelopes
· Stationary
· Evaluate our printing capabilities
· Business software (Quick Books)
· Shipping software
· Web page design software
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