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“You need to clarify why you want to work with these customers – do you have a passion for making people’s lives easier?” Desaulniers said. Stephanie Desaulniers, owner of Business by Dezign and former director of operations and women’s business programs at Covation Center, cautions entrepreneurs against writing a business plan or brainstorming a business name before nailing down the idea’s value.ĭesaulniers said too often people jump into launching their business without spending time to think about who their customers will be and why would want to buy from them or hire them.
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Regardless of which option you choose, it’s vital to understand the reasoning behind your idea. The concept, brand following and business model are already in place all you need is a good location and the means to fund your operation. When your why is focused on meeting a need in the marketplace, the scope of your business will always be larger than a business that is designed to serve a personal need.” Consider franchising.Īnother option is to open a franchise of an established company. “In the words of Simon Sinek, ‘always start with why,'” Glenn Gutek, CEO of Awake Consulting and Coaching, told Business News Daily. “It is good to know why you are launching your business. In this process, it may be wise to differentiate between the business serves a personal why or a marketplace why. If you think your business can deliver something other companies don’t (or deliver the same thing, only faster and cheaper), or you’ve got a solid idea and are ready to create a business plan. Learn what current brand leaders are doing and figure out how you can do it better. Do a quick search for existing companies in your chosen industry.
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If you’re thinking about starting a business, you likely already have an idea of what you want to sell online, or at least the market you want to enter.