Starting a company can be done in several ways. You can simply register a company name at the
chamber of commerce and get busy, or, you can make a plan and prepare strategies for the initial
stages of your company's inception. The beginning stages of any company or growth involves a business plan.
Writing a business plan can be quick and easy or it can be long and very detailed. The choice
ultimately depends on the complexity of your venture. Be it a one-page business plan just to
keep your ideas on paper or a 50-page in-depth plan, they all have a few requirements
to put your goals in perspective:
- What is my business?
This section should explain what you intend to do and what's new about it
- How will my business make money?
This section explains the way(s) your business generates revenue
- What are the costs of running my business?
Take into account all costs you will incur to run your business
- Who am I selling to? Who are my clients/customers?
Clearly define who you expect to sell to
- How will I advertize?
Explain through which channels you will spread the word and how much it will cost
- Who is my competition?
It's important to know who's out there and what they do. Maybe you can learn from them and make your business better.
- Who can help me with my business venture?
There are possible partners out there or even people you know who could help in making your business flourish.
- What do I need to know about paying taxes?
This is important to keep in mind when making money and spending money. Unfortunately, paying taxes is not cheap, so you have to keep that in mind when buying new assets or going on an expensive holiday.
Neo Era Ventures is prepared to help you with this research and planning stage. We can offer
our expertise in writing a business plan and creating subsequent strategies from it. If you
are aiming to raise capital or applying for a bank loan, a solid business plan is a requirement.
Additionally, we can take the planning further and help with carrying out market research,
gleaning more information about your target market and doing a competitive analysis.
Furthermore, it is very important these days to have a clear and good-looking website.
We can help you decide what kind of website would work best for your company. We do not specialize
in web design or programming, however, we know people that excel in these areas. They are a
part of our entrepreneurial network. We can advise and help you structure your website and
write the text content. In order to be found, you need to use the proper keywords on your website.
You have registered your company and have had some clients. However, you are looking
to generate more sales and grow. You might have a few questions on how to go on:
- Am I generating enough revenue?
Ideally, you should generate revenue to cover all costs and have enough to cover future taxes and debts
- Is my product selling?
Call up your resellers, ask them. If you're selling online you should have a system in place to keep track of this
- Do I need to come up with something new?
If your product is good, try thinking about a better pitch. If you think the product can be improved, do so
- Where else can I look for clients/customers?
See what others in your line of business are doing. There is nothing wrong with copying a working business model
- I have too many offers, can I handle it all?
If you have too many, it means you are doing well. You can refer potential clients to other entrepreneurs you know who need the work. Goodwill is one of the cornerstones of successful entrepreneurship
- Should I hire someone to help me?
First calculate if you can handle the financial cost. For short term help you can look for freelancers or other entrepreneurs. For long term help, make sure you have the financial resources to cover it
- Do I need to look for a new location?
Is it really necessary? Sometimes it helps to be in the same area as your clients. If you need a bigger space because of growth, do so
- How can I prevent from growing to quickly?
One of the causes of rapid growth and eventual collapse is greed. Don't get too greedy and make promises you cannot keep. Only accept projects if you know you can handle them.
If something seems to difficult to handle, analyze whether it is possible to hire more people to help you. If not, pass it on to someone who can do it.
- Is it possible to manage healthy growth?
We believe it is. Keep a cool head, keep thinking rationally, and always take your well-being into account
Neo Era Ventures can help you do the research and find the answers to these questions, and more.