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Ask the Business Coach Starting a BusinessQuestion: My girlfriend and I hope to start a business that will help busy working mothers with an array of services. For example we'd offer help in running errands, child pick up & drop offs to after school activities or appointments. Also, we offer a locator service to help individuals locate anything the seem to not have the time to search. My question is since we have a broad range of services to offer how would we go about clarifying our business purpose and where do we begin?Doreen Answer: However modest your startup, it is imperative to have a plan or it’s likely that your new business will flounder or fail. Two elements you will need to put into place immediately are: a targeted, descriptive/meaningful name for your business – e.g. The Errand Girls; and, a single concept/mission statement – e.g. ‘Do a great job for our customers by delivering reliable, unique and everyday services to busy working mothers and single parents.’ Summarize your business services in an logical, direct fashion with corresponding prices for each. Highlight any ‘unique selling propositions’ – e.g. your locator service. Determine how you will organize the accomplishment of your services on a timely, profitable basis. Study your marketplace. Acquaint yourself with any competitive services. Uncover any trends in your service area that will support the need for your business – e.g. know what the percentage of working mothers or single parents is in your proposed service area. You will find most of these customary startup steps listed at - “Twelve Steps to Starting a Successful Business.” It is also very important for you to develop an initial marketing plan. This is a document that will set the objectives and course of action for attracting your clientele. It can be a simple plan that includes the development of basic tools such as: business cards, advertising flyers, bulletin board messages and how you will distribute notices and information about your new services to your targeted customers, e.g. windshield flyers in mall parking lots that are in your primary area of service on a repeat basis. Plan your growth and arrange your services in such a way that you can truly deliver on your promises. Ultimately, whatever you simply and formally map out as the desired look for your new service business is what will take shape.
Also see: Disclaimer: The information in this column is intended to provide the reader with general ideas or concepts to be used as part of a broader base of knowledge they collect to determine their own best course of action and solutions most suitable for solving their workplace challenges. The information in this column is not guaranteed to be the appropriate solution for each individual.
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Joyce K. Reynolds is an expert Business Coach who works with CEOs, Sr. Execs, entrepreneurs and countless others providing knowledge, solutions, motivation and support that assist her clientele in successfully meeting workplace challenges. 