How to Survive Essay

Submitted By Tacopandas
Words: 424
Pages: 2
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The business plan will take a large amount of time. It is your access to financing for your business. Everything must be supported with examples and facts. Take it step by step, start with the name and logo and baby step through your target markets product description, location and everything that has been decided about the business. Use your resources, Lawyers and bankers can review plans and make suggestions that would better convince them to invest. Not even Bill Gates has the capitol to market to every person in the world; there are just too many different people that like different things. Target markets are the stereotypical person who would by the product or service. Mr. Griffin suggests knowing age, gender, annual income, family size, lifestyles, and anything else that would affect a person’s decision making (Griffin). A company that sells running shoes would want to market specifically to avid runners with the income to afford the shoes. “If you’re preparing to open a food or retail business with a storefront, putting your shop in the right location could be the single most important start up decision” explains Karen E. Spaeder, a successful entrepreneur and author (Spaeder). Demographics websites are key resources to location choices. The amount of customers that visit a business a day is crucial to annual profit, so the front has to be easily accessed from all ways of traffic and close to your target market. An extra couple customers a day can generate thousands in profit over time. After the location is decided leasing negotiations will begin. Both
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