You have accomplished Week 1 of our 30-day-business challenge. Within this week, we have performed activities related to researching a market, planning, and making decisions where your company should go. You have written your Business Plan – this is a great accomplishment.
To sum up what you have learned so far.
Day 1 was about deciding what business to start
- You have learned that your offer must solve one’s problem to take him from unhappiness to happiness
- You know two effective methods of searching for trends and ideas
- You have written down your ideas
- You can assess if your niche is worth your time and effort and whether or not it will be profitable enough
During Day 2 you were creating your mission statement and goals
- You have learned what vision, strategy, and tactics are
- You understand why having these three components aligned is essential to your successful business
- You can formulate your Vision, Strategy, and Tactics
We took care of your business financials during Day 3.
- You have learned what makes your business profitable.
- You understand the difference between revenue and three categories of expenses (essential, non-essential, later).
- You can calculate your break-even point and startup budget.
- You know how to reduce potential costs and where to look for funding.
During Day 4 you were identifying your Target Market
- You have learned the difference between product and offer.
- You understand the unlimited possibilities coming from a proper definition of your offer and the target market.
- You can define your ideal business Personas.
Day 5 introduced you to creating Value of Your Offer
- You have learned what the USP components are
- You know how to create your USP in four steps to keep your offer unique and beneficial for your customer
- You have learned about four ways of spying your competitor and getting valuable information about the pros and cons of their proposal. You also know how to identify their target audience (comments and shares)
You have created a business name on day 6
- You have learned what the business name creating rules are.
- You understand that your business name cannot be already trademarked both in the US and EU.
- You have received 19 inspirational ideas where to look for the business name
- You understand that there are tools that can make your life much more comfortable in terms of generating a business name.
Day 7 has been all about putting your findings into a Business Plan
- You have learned why the business plan is essential.
- You understand the main principles of the business plan.
- You have written your business plan that solidifies your goals, thoughts, finances, and analysis.
Congratulations! You are ready to start Week 2. Week 2 will be all about putting Your Business Into Foundations – creating a brand, obtaining licenses and permits, choosing a legal structure, creating a website, and making you operational.