Tuesday, August 23, 2016

Run through this check list and see if you are doing the right thing when you start your business.

Run through this check list and see if you are doing the right thing when you start your company:
This checklist is prepared for both existing entrepreneurs or going to be entrepreneurs. For the start-up entrepreneurs, the checklist will guide you to ensure you are doing the right things when you start your venture. It will help you avoid countless mistakes that typical new entrepreneurs will do. The mistakes can set you back for many years. For some entrepreneurs the mistakes actually killed their venture.  This checklist will help you to identify the mistakes and help you to move forward correctly.
For those entrepreneurs that already run their business, you may have encounter some of the mistakes. You may have corrected your mistakes. The checklist will help you to identify other areas that you may want to look at. It will help you identify certain weaknesses and will help you push your venture to a higher level.
No matter of you are just starting or you are already an entrepreneur, the check list will be very valuable.
It will just take a few minutes of your time yet it will help you build your bright future. 

Checklist to build successful business: 

Have you written down your Definite Chief Aim?  Will it help to guide you during difficult times? Is it strong enough to pull you through?  

Have you identified your product Unique Value Proposition? How strong is the value proposition? Will customer pay for it?  

Have you identified your target market? Who are they? Why wold they need your product?

Have you studied your competitors? What are their strength? What are their weakness? What area you can win?

Have you done your research on your market size? How big is it? Where is your niche?

Have you done your study on what is the things that have changed that will allow you to win in the market? It could be technology or others. 

Have you build your marketing team to create business leads? Do you have a strategy to get leads? No leads, no sales.

Have you trained your sales staff on successful sales techniques? How to set up meeting. How to do sales presentation. How to close sales.

Have you identified your target customer or target person in your leads generation? Who is having the headache in that organisation?

Do you have internet marketing plan? It could be using Facebook, or Google. What is your process?. What are the keywords, landing pages?

Have you set up your budget for the internet marketing? It could be using Facebook or Google. Is it sufficient? Do you know how to do it?

Do you have a strategy to develop your Distributor network? Do you have training strategy? Is your commission competitive? Do you have tools to manage them efficiently?  

Do you have KPI for your sales staff? What are they? Do you have the tools to manage your sales team efficiently? Can your sales people get access to required sales data instantly while travelling?

Do you have a system to help you manage your operation effectively? 

Do you have detailed report? Do you have standard process? Is your business organised well? Can your company run smoothly when you are not in the office even for weeks?

Can you get access to your company data efficiently? Can you get it from anywhere you are? Can you get data fast?

Do you use integrated system to manage your company operation? Is your sales integrated to inventory, to account? Are you efficient?

Is your accounting system giving you the reports that you want? Can you get access to it anytime you want? Can you see the detailed reports? Can you see company Dashboard? Can you see financial ratio trends?

Is your payroll system gives you the efficiency you want? Is it saving you a lot of time? Is it making your payroll team more efficient?

If you have many NO’s in the checklist, it is good for you to review your business strategy and activities in your effort to build a successful and growing business. Review your weakness and correct them. Review your result and fine tune as you learn more.

You can also download our full workbook on building a successful business in our eBook called “Start-up to Million Dollar Venture” by clicking here.

No comments: