Planning Your Business

TeenBiz – Planning Your Business
Turning Your Idea Into A Working Company

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The software I use is called “Free Mind” and allows me to create an unlimited web of ideas and thoughts.

I start with my business idea in the middle and then add sub-points.

I usually start with just four simple points.
Name – simple yet descriptive, logo, sub title
Advertising – how, where, when, how much cost, flyer ideas, slogans
Service – how, selling points, steps required, time required, how much to charge
Equipment – tools or equipment needed, maintenance costs

From there I can see if I can actually accomplish what I am going after.

There is a simple formula you must remember when planning your business…

People Who See You Ad x Conversion Rate x Cost Per Job = Income

If you want to make money with your business you need to…
Get Your Ad in Front of Lots of People
Get Those People To Act
Get Them to Pay the Highest Amount Possible For Your Service

If your service isn’t worth a lot, and few people need it, it just won’t work…period.
If your service is worth a lot and a lot of people need it, you make money….period.

Planning your business and looking at all the aspects, especially COST and TIME will help you see if your business idea is worth it.


Blogger dvgeoster said...

No Podcast this week?

10:40 AM  

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