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This page might seem daunting, but if you want to avoid the pitfalls of starting a business take advantage of all that we have provided!

It’s very simple…

Instructions

This page might seem daunting, but if you want to avoid the pitfalls of starting a business take advantage of all that we have provided!

Idea Score

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Idea Score

Rate each of the 10 factors below on a scale of 0 to 10, where zero is extremely unattractive and 10 is extremely attractive. When in doubt, be conservative in your estimate.

When you’re done with your assessment, add up the score. If the score is 50 or below, move onto another idea—there are better places to invest your energy and resources. If the score is 75 or above, you have a very promising idea—full speed ahead.

Anything between 50 and 75 has the potential to pay the bills, but won’t be a home run without a huge investment of energy and resources, so plan accordingly.

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The Business Brain Dump

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The Business Brain Dump

Brainstorming can be a daunting task, but it is important to take time and make an effort in this section. Whatever you do here will directly affect the following sections. Some of these questions might seem simple or too obvious but just put down what comes naturally without overthinking things-we want everything out on paper so that our ideas are clear not only to ourselves but also to other people if needed.

What is your business name?

Choosing a business name isn’t something you want to take lightly. You don’t need to be an expert on branding or marketing, but the first impression customers get of your company is largely determined by what they see – not hear about it. You need to take into consideration what your target audience needs and wants, as well as something catchy that will stick with them long after they’ve forgotten the company’s logo or slogan.

How would you describe your business?

You want to introduce your company name and explain what your business does, where you operate (or the markets you serve), and tell us how long you’ve been doing it.

We’re “Company Name”, and we’ve been “What your business does” here in “Location” since “Date”.

We’re The Coffee Bean and we’ve been roasting and serving organic coffee here in Toronto since 1981.

Where will your business be located?

It’s been said that “if you build it, they will come.” This may be true if you are building a stadium or an amusement park, but in the world of business, there is no such thing as passive customers. To get people to your door, you need a website.

Online Presence 24/7

Having a strong online presence is crucial. Your online presence provides your business with 24/7 access, unlike any other platform. A website can be accessed at any hour, from anywhere in the world, and will allow you to expand your reach globally. Every aspect of your business, from booking appointments to answering customer questions, can be done online. Online presence lets you focus on more important things in your life and provides a platform for growth while you sleep. A website sets the stage when customers begin their search for what they need; even if it’s not with your company, it creates positive buzz about who you are and what you do.

A good online presence is essential because everyone uses the internet at some point throughout the day; according to statistics, 81% of all adults in America use the Internet on a daily basis. Having an active online presence puts your brand in front of millions upon millions of people each year and allows them to learn about what you have to offer.

Credibility

What is your business’s credibility? Are customers going to trust you if they don’t know anything about who you are? You want to create a solid foundation with the general public so that they are more inclined to choose your company over others.

Your online presence lets people see what type of business you run, and allows them to look into your background before deciding whether or not they should take their money elsewhere.

Credibility is essential because it determines how much people believe in your brand and how effective it will be in meeting customer needs. It also gives potential customers something on which they can base their opinions about whether or not to use your services.

Website Analytics

Analytics will help you understand your website and how people are using it. It shows where users are visiting, for how long they stay on the site, and what pages they visit most frequently. Analytics helps you adjust your advertising campaigns to ensure that you’re getting the best results possible with the least expense.

Analytics help you see what areas of your website are more popular than others, so that you can further optimize them for a better user experience.

If you really want to know about your business, it is recommended that you have analytics built into your website and accessible via any device.

Advertising

Online presence allows you to advertise your business in a way that is entirely unique compared to other platforms. Google AdWords and Facebook Ads, are all great ways to help promote your company and get the word out about what you have to offer. Online presence is an excellent way to advertise for your company, and it has become a standard in our society.

On average Americans spend about 34 hours on the Internet each week. You can reach a large audience and allow them to learn more about your company with just a click of a button.

Online presence allows you to advertise in ways that will help grow your business while keeping costs low; through social media, email newsletters, etc. The opportunities are endless for creativity when it comes to promoting your company’s products or services online. Every year there are new developments in SEO best practices that create new effective strategies for your business’ online presence. Due to this, customers have access to new information every day involving what brands they should choose based upon their needs and wants.

Every entrepreneur needs to choose the best location for their business. It’s a decision that will affect your finances, your relationships and even your personal life. But what are some of the things you should be thinking about when choosing a new location?

Think About Your Target Audience

If you run an office supply store, it would make sense to find a place on Main Street. If you run a pet shop, your target customers are probably going to be more likely to flock to an area with higher foot traffic.

In addition to proximity, savvy business owners know that part of targeting your ideal client is understanding what their needs and wants are.  If they live in the suburbs and prefer big parking spaces and wide streets rather than small downtown homes with tiny alleys, then stay away from places like those!

Think About Your Business

If you run a delivery service for giant packages, you probably don’t want to be located on the fourth floor of an office building that has no elevator.  Or perhaps if you are running a restaurant, there must be adequate parking and foot traffic. Most importantly though, think about what long-term plans you have for your business when deciding where it should go.

Think About Crime, Sanitation, and Accessibility

There are a number of great places in this world, but if your potential customers might get mugged when they’re walking there, or the floor gets flooded every time it rains, you’ll be less successful.  So don’t just think about what’s best for your business now—also think about what will work in five years or ten years.

Similarly, you need to check accessibility for your employees and your customers.  If you’re going to run a business that employs mostly senior citizens, it probably would be wise to find a place with an elevator. And if you’ve got delivery drivers who frequently make pick-ups and deliveries late at night, you should avoid places in sketchy neighborhoods.

Think About Costs

Finally, think about the day-to-day expenses of owning the space—the rent or mortgage payment are only part of the story. You might have to pay for things like utilities and maintenance as well! So look into how much all of those will cost before deciding where your new business will go.

Zoning and Bylaws

Another thing to consider is where your new business will fall in terms of zoning requirements.  Depending on what you do, there may be certain areas that are off-limits for a new business (e.g., if you want to run an oil refinery, it would not be wise to try and get approval in a residential neighborhood).

If you’re starting the business yourself, this may mean going through the process of application before setting up shop—but if someone else has already started the business, then this step could mean changing locations! And even after all of that work and expense have been done, bylaws can change unexpectedly; sometimes businesses need to relocate when laws are changed or modified.

What problem are you solving for your target audience?

There’s a saying in business, “If you don’t know where to go there’s no point in going.” This is also true with solving customer problems: if the problem isn’t right for your company and products then it doesn’t matter how much time or effort we invest into fixing them; they won’t be solved – nor would they have been worth spending that energy on anyway!

We all know that customer satisfaction is key to the success of any business, but what does that really mean? I’m going to be taking a look at some ways in which entrepreneurs can identify and solve problems for their customers. The ultimate goal should be how you can make your product or service the solution to a problem they have.

One way to identify a problem is by talking with customers and finding out what they need. This may seem like common sense, but it’s one of the most important steps in identifying problems that should be solved for your customer base. You’ll want to take this information from them on an individual basis so you understand their needs more specifically. Once you have those questions answered, try grouping similar concerns together into different categories or themes based on what people are looking for when buying products or services related to yours. From there, write down ideas that come up as solutions around each theme – these will become potential product features you can explore.

If you’re starting from scratch and don’t have customers yet, survey people who fit your target customer profile. These people can be family, friends, or people on Facebook. You can still use the same process above and gain lots of insight.

Get the most out of customer problems:

Doubling down on your target customers’ biggest problems will give you a better chance at success. It’ll also ensure that the investment you make in making your product or service successful is worth it. There’s no need to work on areas where people aren’t having issues because they’re not an opportunity.

The Problem

Many traditional advertising campaigns are failing to meet their goals due to a number of factors. One such factor is the hard time targeting those that have high purchasing power because they’re harder to reach. Another issue with this type of campaign is lack of immediacy and track-ability for ROI, which leaves businesses without any idea if what they did worked or not in the first place!

The Solution

With Facebook Ads Manager you can create your own ad campaigns with just a few clicks of the mouse. It only takes an hour or two for experienced marketers, but newbies will have an easy time too. There are step-by-step instructions and videos that walk you through every detail of creating a campaign from scratch. Once your campaign has been approved by our team we’ll help you optimize it so that it runs smoothly and reaches as many people as possible at the lowest cost per click (CPC) or impression (CPM).

What is your solution to solve this problem?

You have an idea for a product or service that you think will solve a problem for your customers. As the owner of this business, it is now up to you to take steps in order to create and bring these products and services into the world. In this blog post, we are going to talk about three different strategies that can be used when developing new products and services: customer-centric development, co-creation with customers, and design thinking.

Customer-Centric Development

Customer-centric development is a strategy where you listen to your customers and make sure that what they want, aligns with the product or service. You can do this by conducting market research and asking questions about their needs in order to ensure alignment between customer input and product/service goals. The most important thing when using this strategy is to not jump straight into designing a product or service without understanding your customers and their needs.

Co-creation with Customers

In order for customer-centric development to be successful, the company must take an active role in engaging with potential and current customers during different stages of the product/service life cycle. This includes finding out what the customer needs, listening to their feedback and ideas for how the product/service can be improved, as well as looking at what they like or dislike about it.

Design Thinking

Design thinking is a strategy that uses four steps in order to create products and services that solve problems for customers-observing them with empathy (researching), developing solutions (creating prototypes), testing the solution with customers, and improving it based on feedback.

The Solution

With Facebook Ads Manager you can create your own ad campaigns with just a few clicks of the mouse. It only takes an hour or two for experienced marketers, but newbies will have an easy time too. There are step-by-step instructions and videos that walk you through every detail of creating a campaign from scratch. Once your campaign has been approved by our team we’ll help you optimize it so that it runs smoothly and reaches as many people as possible at the lowest cost per click (CPC) or impression (CPM).

The Problem

Many traditional advertising campaigns are failing to meet their goals due to a number of factors. One such factor is the hard time targeting those that have high purchasing power because they’re harder to reach. Another issue with this type of campaign is lack of immediacy and track-ability for ROI, which leaves businesses without any idea if what they did worked or not in the first place!

Who are you solving the problem for?

A target audience is a group of people who are likely to become customers. The goal for any business should be on reaching their target audiences and selling them the products they want or need, so that each company can maximize its profits from potential buyers in this demographic.

A Target Audience Defined: A targeted audience is an important factor in marketing because it helps identify what types of consumers your product appeals most to before you create anything at all – ensuring that those who will enjoy it the most have access first!

What unfair advantage(s) do you have?

You have an idea for a product or service that you think will solve a problem for your customers. As the owner of this business, it is now up to you to take steps in order to create and bring these products and services into the world. In this blog post, we are going to talk about three different strategies that can be used when developing new products and services: customer-centric development, co-creation with customers, and design thinking.

Customer-Centric Development

Customer-centric development is a strategy where you listen to your customers and make sure that what they want, aligns with the product or service. You can do this by conducting market research and asking questions about their needs in order to ensure alignment between customer input and product/service goals. The most important thing when using this strategy is to not jump straight into designing a product or service without understanding your customers and their needs.

Co-creation with Customers

In order for customer-centric development to be successful, the company must take an active role in engaging with potential and current customers during different stages of the product/service life cycle. This includes finding out what the customer needs, listening to their feedback and ideas for how the product/service can be improved, as well as looking at what they like or dislike about it.

Design Thinking

Design thinking is a strategy that uses four steps in order to create products and services that solve problems for customers-observing them with empathy (researching), developing solutions (creating prototypes), testing the solution with customers, and improving it based on feedback.

The Solution

With Facebook Ads Manager you can create your own ad campaigns with just a few clicks of the mouse. It only takes an hour or two for experienced marketers, but newbies will have an easy time too. There are step-by-step instructions and videos that walk you through every detail of creating a campaign from scratch. Once your campaign has been approved by our team we’ll help you optimize it so that it runs smoothly and reaches as many people as possible at the lowest cost per click (CPC) or impression (CPM).

The Problem

Many traditional advertising campaigns are failing to meet their goals due to a number of factors. One such factor is the hard time targeting those that have high purchasing power because they’re harder to reach. Another issue with this type of campaign is lack of immediacy and track-ability for ROI, which leaves businesses without any idea if what they did worked or not in the first place!

Your Approach

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Your Approach

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What is your mission?

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What method will you use to accomplish your mission?

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What motivates you to accomplish your mission and help your target audience?

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The Market

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The Market

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Who is a close competitor?

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What are they doing well that you want to adopt?

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What is one of their weaknesses you can improve on?

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The Market

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What is a business outside your industry and market that you admire?

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What would you like to adopt from them?

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How would you apply it to your business?

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Target Audience

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Target Audience

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What is their name?

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What do they do?

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What is their age range?

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What is their gender?

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What is their ethnicity?

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Are they married?

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Do they have kids?

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What is their annual income?

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What is their educational level?

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Do they live in a home or do they rent?

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Target Audience

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Where do they live?

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Target Audience

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What is their worldview?

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What are their interests?

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What are their aspirations?

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What challenges do they face?

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Target Audience

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What are their attributes?

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Target Audience

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What companies do they like and why?

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What major personalities or thought leaders do they listen to?

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What social media platforms do they use?

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How do they get their information?

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How do they want to be communicated to?

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Target Audience

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What pain points or friction do they want to avoid when it comes to your industry?

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What pushes them to make purchasing decisions?

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Who had these customers before you?

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Target Audience

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What else do you think you need to know about your target audience?

The brand

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The Brand

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How do you want your target audience to describe you?

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Choose your top 3

Then choose your favorite one

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How do want to you sound to your target audience?

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Choose your top 3

Then choose your favorite one

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How does your target audience feel after interacting with you?

Come up with 4 to 6 words or short phrases for the question prompt below

Choose your top 3

Then choose your favorite one

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What tangible impact do you have on your target audience?

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The Brand

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What values do you and your target audience share?

Come up with 4 to 6 words or short phrases for the question prompt below

Choose your top 3

Then choose your favorite one

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