Step 1: Define Your Business Vision Understanding Your Purpose Before diving into the nitty-gritty of a business plan, I always start by defining what my business is all about. Ask yourself, “Why does my business exist?” This question is crucial because it sets the tone for everything that follows. Be clear and concise, as a […]
Step 1: Research Your Market Understanding Your Audience When I first started my business, I realized that fundamental to my success was understanding who my audience was. This isn’t just about demographics like age or income; it’s about their wants, needs, and pain points. I recommend doing some surveys or interviews. Trust me, actually talking
Step 1: Determine Your Direct Costs Understanding Direct Costs When I first dived into the world of menu costing, one thing became instantly clear: direct costs are the heartbeat of your menu pricing. These are the costs related to the ingredients that go directly into your dishes. If you pour 20 bucks into a gourmet
Step 1: Define Your Business Idea Clarifying Your Vision So, you want to start a business? Awesome! But before anything else, it’s crucial to lock down what your business idea actually is. Take a moment to brainstorm your passions, strengths, and market gaps. What keeps you up at night with excitement? Make a list and
Alright, folks! If you’re here, you probably want to nail down a solid business plan in a straightforward way. Having a business plan isn’t just for the big shots; it’s essential whether you’re a budding entrepreneur or looking to take your business to the next level. So, let’s break it down into three simple stages.
Step 1: Define Your Business Vision Understanding Your Core Values When I first started working on my business plan, one of the first things I did was dig deep into what my core values were. It’s crucial to understand what you stand for. For me, it was all about innovation, integrity, and community. I asked