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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