Whether or not you have an official business plan or monitor your profits and losses, they exist all the same. But in one case you are able to make informed decisions, and in the other… well, be prepared for some surprises.
Once you have money invested, the clock starts ticking and every dollar has a desired profit and a timeline attached to it. So while you can have great success without an infrastructure in place, having one can help to avoid miscommunications, missed deadlines, and missed opportunities for growth.
Let’s take a look at how The West Wind launches a business.
Whether or not you have an official business plan or monitor your profits and losses, they exist all the same. But in one case you are able to make informed decisions, and in the other… well, be prepared for some surprises.
Once you have money invested, the clock starts ticking and every dollar has a desired profit and a timeline attached to it. So while you can have great success without an infrastructure in place, having one can help to avoid miscommunications, missed deadlines, and missed opportunities for growth.
Let’s take a look at how The West Wind launches a business.
We begin by collecting all pertinent data, including:
Business Environment
Market Research
Market Analysis
Internal Advantages
Internal Opportunities
Competitor Analysis
Use the collected data to build your business structure.
Cost Analysis
Sales Forecast
Expense Forecast
Master Budget
Competitive Strategies
Brand Marketing Strategies
Aquire the licenses and permits required for opening.
Register Name & Structure
Employer ID Number
Licenses & Permits
Local & Federal Regulations
Business Accounts
Insurance*
Build out your day-to-day processes.
Define Processes
Create Roles
Internal Structure
Culture & Communication
Allocate Resources
Improvement & Adaptation
We begin by collecting all pertinent data, including:
Business Environment
Market Research
Market Analysis
Internal Advantages
Internal Opportunities
Competitor Analysis
Use the collected data to build your business structure.
Cost Analysis
Sales Forecast
Expense Forecast
Master Budget
Competitive Strategies
Brand Marketing Strategies
Acquire the licenses and permits required for opening.
Register Name
Employer ID Number
Licenses & Permits
Local & Federal Regs
Business Accounts
Insurance*
Build out your day-to-day processes.
Define Processes
Create Roles
Internal Structure
Culture & Communication
Allocate Resources
Improvement & Adaptation