Discuss the fun task of marketing a t-shirt shop. Where to advertise, local marketing tips, word of mouth, press releases, search engine marketing, keyword advertising, magazines, etc.
out of interest who here made a marketing plan before starting? or a business plan for that matter? im sitting at a desk with a pen and paper and what seems to be a business degree textbook from the library, was just wondering how important this step is
Very important just try to be realistic with your goals. There are some great resources on this subject at the SBA web site. http://www.sba.gov/ Our marketing plan has changed quite a bit butt we are still on target with the business plan, I guess that's the most important part.
__________________ Daniel Slatkin TroopFuel we support our troops.
Last edited by Daniel Slatkin; January 21st, 2009 at 06:44 AM.
Reason: typo
Writing a business plan is (in my opinion) critical to the success of yours, or any business. Without one you will be lost and adrift in what you should be doing on a daily basis.
Attack it like you used to write term papers in school... You have an opening thesis statement (your "mission" statement...) that is then supported by supporting data, and a final summary. Use an outline format to start and then flesh out the bones of your outline.
The business plan is the equivalent to a recipe for a chef. It has the ingredients and procedures for how you are going to build a successful business. Without that you only have a skillet and a spoon...no direction.
Ask yourself:
-What am I going to make?
-How am I going to make it?
-What equipment do I need?
-Where do I buy the equipment?
-What raw materials & supplies do I need?
-Who will I buy them from?
-What does it cost to manufacture and sell my product?
-How do I set pricing for my products?
-How will I market my product?
-Who are my customers?
-Who does my potential customers buy from now?
-How will I get them to buy from me instead?
-How large is my potential customer base?
-Who are my competitors?
-Where are they located compared to me?
-What products do they offer?
-How do they manufacture & market their products?
-What competitive advantage would I have compared to them?
-How am I going to finance my business?
-What are my monthly expenses:
Rent, Electricity, Insurance, Taxes, Office
Supplies & Equipment, etc..
-What regulatory requirements are there: Business License, LLC/S-Corp/SoleProp, Tax ID, EIN#, City Zoning Laws.
-How will I finance my business?
-How much starting capital will I have?
-Where will I get it?
-What if I need more?
-Will I buy or lease my equipment?
-How will handle a cash flow problem?(customer orders 500 signs...you have to buy more vinyl than you have cash.... Or Customer that ordered 500 signs calls back next month and says they need 5000 this time...or customer that ordered 5000 take 60-90 days to pay! How will you weather the storm??)
There are a zillion more. These are questions that you get answered when you prepare your business plan.
I think most people avoid writing a business plan because they know they are not really equippend or ready to run a business... and a well written plan wil expose that weakness.
NOW FOR THE IMPORTANT PART
After you write your plan and your business has been rolling for a bit you need to get your business plan out re-do it! Yep... you will find that you now know alot more than you did starting out now. Many of the presumptions you made in your plan don't apply anymore, or the facts have changed.
Especially review your marketing plan (which I treat as a separate entity from the bizplan)
Brian Tracy said that businesses that make a new plan every year do much better than the ones who don't. The plans they make are not necessarily all that great or perfect, but the important thing is that it makes you think out all the aspects of your business. And you can use that as the foundation for making better plans in the future as you get more experience and learn from mistakes. Thinking with clarity and detail about your goals definitely helps you to succeed.
I like to compare making plans & goals to driving a car. If you plan your exact rout and clearly see it on a map and you know exactly where you're going, you can get their quickly and efficiently, and make few or no mistakes. But if you only have a vague idea of how to get where you want to go, you're likely to get lost, waste a lot of time, and take a lot longer.
Also I think people who make plans have a more responsible, disciplined, and hardworking personality type. The people who proceed without plans tend to have a more lazy, disorganized, ineffective personality type. And that probably accounts for a lot of the difference in their success too. I've noticed that a lot of successful people make a daily schedule and they stick to it.
Last edited by Bougie; January 22nd, 2009 at 09:16 AM.
who made a marketing plan? 
Daniel Slatkin 
