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Fried Chicken Business

Things All Businesses Need To Be Considering

65% of all start-up businesses go under within a few years, and 30% do not even get through six months. So that you have the best chance of getting through this period we have compiled a checklist of the things you must do to make sure your business is successful.

  • Sole trader or limited company? The structure you choose for your business will impact on the tax you will pay and the amount of statutory and financial liability that you are responsible for. If you choose to be a sole trader there is no distinction between you and your organization, whilst the assets and debts of a limited company belong to the company, as this is a separate legal entity.

  • Define your target audience. Trying to sell everything to everybody will never work. Your company should aim everything at your likely customers and all that you do, from your companies website to your marketing campaigns, must be of interest to them. Approaching your likely buyers will also make them feel like they are important to you and your business, should create allegiance, and should boost the possibility of them recommending your companies goods and services to third parties.

  • Size up your businesses competition. Which other businesses are supplying the products that you are preparing to provide? What are their strengths and weaknesses compared to your merchandise? By studying your competitors you can benefit from their mistakes and also ascertain what their buyers are looking for. You should also identify how much buyers are probably going to pay for your offerings, and also the way you can characterize what you advertise from your competitors.

  • Get your business noticed. There is no point in an amazing business idea if nobody knows about it; so how will you get noticed? If you do not have a substantial marketing budget, start small and concentrate on developing connections. Utilize social media and networking to begin constructing a good image with not only potential clients, but also journalists, business bloggers, suppliers, relevant businesses and your local chambers of commerce.

  • Create a website. Did you know that 50% of all small businesses do not have a web presence? Most want one, but they either assume they cannot afford it or they do not have the prowess to get it together themselves. This might have been true a few years ago, but modern website building software means total beginners can now get an e-commerce website up and running in no time.

  • Decide on your USP. Customers will only stop buying from elsewhere, instead of yours, if you offer an improvement or something different. Your businesses Unique Sales Proposition describes what is distinctive about your goods, outlining what your customers cannot get anywhere else.

  • Work out and obtain the correct amount of funding. In a perfect world you would have adequate money to bankroll the launch of your business, but, for most people, that is not an option. Instead you could approach your friends or family to find out if they may be willing to help, or you can look at obtaining a business loan or seek out a financier. You should also find out which grants are available for your company.

  • Write your business plan. Great businesses were planned that way. This is where you verify that each section of the business will work correctly and is sensible. If it is not, do you really want to go ahead?

  • Decide how your business will sell to its customers. What is the companies route to the market? Think about all your choices, from market trading to eBay store to mail order, to retail store or stand, to picking up business at networking events or on facebook and twitter, to emailing campaigns or integrated partnerships or simply via Adwords.

  • Decide when you should open your business. You are prepared to start your new company but do not be too quick to leave your day job. The salary should be helpful, as it may be better to put together your business in your down time, and then make the big jump when the organization can support you and is truly ready for your undivided attention.

When it comes to making decisions in respect of your business you should consider the following topics:

  • Is this a sensible decision for me as well as for the business?

  • What significance will this decision have within each part of your business?

  • How much might the decision cost and where will the cash come from?

  • If there is not enough cash in the companies budget, what will you do without and how will that change your business?

  • Are these decisions reflected in your business plan?

There are a great deal of questions you might want to ask about the decisions you have to take. Deciding on your choices while you are pressured can mean trouble but using a resourceful business plan makes your decisions significantly simpler to take.







A Successful Business

There are three primary principles for determining the progress of any business:

  1. The organization has suitable products that are needed by customers in the current market.

  2. The organization is targeting a niche section of the wider market and its marketing, advertisements, and goods and services present a consistent message.

  3. The small business can manage utilizing its own cash-flow and has controls in position to make certain this continues.

Being successful at any one of these three will not generate a profit; even any two will ultimately mean a decline in the organization. The company needs to be structured so that it systematically converts client demand into cash. Seasoned business owners work hard to be in the right position at the right time while bad owners watch enviously, wishing that they will one day enjoy similar good fortune - but they never will.

To experience prosperity in your business you must have products that present precise benefits to buyers and your advertising needs to concentrate on promoting these. It is vitally important that you are aware of what your potential customers are expecting to find, that they are not getting in the present market.

The vast majority of companies are not in a position to take advantage of being in the perfect place at the perfect time as they did not do any market research and many are already bound to be in the incorrect position at the incorrect time. These declining businesses generally have, and need, far more financing than successful businesses, and they are customarily hampered by their cash flow with all of their assets already facing the wrong way. They have:

  • A lot more inventory than they can conceivably ever sell in a wide range of unconnected product sectors.

  • Substantial numbers of small purchases from a large inventory, causing the company to require more employees that it can afford to have.

  • A lot of cash that is pledged into areas of the venture that are standing still.

You must concentrate on market research to gather the lowdown about your niche markets and clients. Your market research is a critical part of managing your competitive edge and perception about what your competition is doing:

  • Exactly what is your pertinent target market consisting of all those items and / or services that are judged as interchangeable or substitutable by the consumer, in respect to the products characteristics, prices and their expected use?

  • A relevant geographic market spanning the area within which the company will be involved in the provision of products and services and where the conditions of competition are comparable.

It is crucial that you have the financial backing of your new venture perfect prior to opening:

  • How would your business function without external funding?

  • Is your bookkeeping and record-keeping meticulous? If not, then you might soon discover how vital it is that it should be.

  • Have you meticulously thought-through each item of expenditure and how paying out the money will help your business?

  • At not time buy anything for new if you can get a pre-owned item markedly cheaper.

  • Make certain that you conserve your cash and try and keep your spending as small as possible in everything you do.

Cling on to your cash. Cash is at the heart of any business.




Great Fried Chicken Businesses are planned that way.





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