Your 12-Month Strategy Plan
Many Individuals make new year resolutions and break them.
Entrepreneurs need to make year-long resolutions, also known as yearly strategic planning and stick to them.
Here are a few things you need to think about for 12 months,
regardless if month 1 is January or August.
**This list is not exhaustive.
Find a list of all special days and holidays that will be important to your industry. This is important for promotional and sales purposes. For example, you will offer deals for Black Friday or Cyber Monday while showing support for Breast Cancer month and even sponsoring an event for funky socks day if your store specialty is socks. Know the reason behind the days so you can make meaningful connections. Eg. World Downs Syndrome Day is the reason for Funky Socks day.
WHAT IS BUSINESS INSURANCE
& WHY DO I NEED IT
Owning a business can be an exciting way to provide valuable goods and services to your community and create jobs. However, it is hard work and an investment of your time, your money and your passion. Therefore, it makes sense to protect those investments from risk.
It is essential to understand that insurance contracts are very specific about what they cover, so it makes sense to review your policy with an insurance professional to ensure your risks are covered.
Some of the most common types of business insurance include, but are not limited to:
Commercial general liability insurance
Product liability insurance
Professional liability insurance
Key person insurance (previously known as
Professional Liability Insurance is also commonly known as Errors and Omissions Insurance, or when referring to medical professionals, it is known as Malpractice Insurance. This coverage helps safeguard a service’s business when clients claim they have suffered a financial loss due to the service provided by your company. For example, as an interior designer, you have been hired by a dentist to design their new office. Unfortunately, you failed to meet the contracted deadline, which results in a delayed opening. You might face a lawsuit for the income lost due to the delay. Professional liability insurance could help protect you with the costs associated with the lawsuit.
Customer Service & Loyalty Retention
Building a business from the ground up is a gruelling ordeal that I would not want to put on anyone, and yet, believe that everyone should go through to build your resolve and fuel your passion when starting up. There are many factors to consider and lessons to learn on the way, but being in the food business, the most important aspect to always keep at the forefront is the customer.
Without customers, there is no business. I might be stating the obvious, but some businesses tend to lose sight of that fact. I found the key to not only growing the company but to keep it running, is to have a steady flow of customers. I will share some insight, from my experience, on how I retain previous customers, as well as draw in new ones.
Due to the nature of a cake business, customers are almost always celebrating one event or another, all of which are significant to themselves. As such, it is quite rare for any to be satisfied with a generic cake. Mind you, I like to believe that my products both look and taste great on their own! But still, a personal take on each order is what sets me apart from your neighbourhood block cake shop. Prospective clients are always encouraged to provide pictures of what they have in mind, and I will, to the best my ability, endeavour not to refuse their idea, unless of course, it is impossible.
A Step by Step Guide to Honing
Your Passion on a Shoe String Budget
In today’s society, one income is often not enough to meet all our needs. Many people are being pushed to find a different source of income, and many like myself are tired of doing the mundane job just to get by. I have always dreamed of financial freedom and living a life doing what I love, but the road to get there does not always seem tangible.
Well, I am happy to say that I did precisely that. I found something I loved doing and made a career out of it that gave me an annual income of 70K. It took hard work and focus, but it was worth it. For those of you looking to achieve similar results, here is a step by step guide on how you can generate a sustainable business doing what you love.
love taking pictures! It was never something I thought I was good enough to do professionally or something I had formal training in.
Designing Your Product
My journey started when I would frequently find black-legged deer ticks in Abby’s fur during our local hikes. When I discovered that black-legged deer ticks are the largest carrier of Lyme Disease, this left me concerned for her safety. I feared the use of chemicals after seeing adverse side effects on other dogs. Some of these side effects include severe burns to fur/skin, seizures from vet prescribed tick and flea medications, and even death. I tried many natural products that did not prove to be effective. Eventually, I formulated something natural that finally had us coming home tick-free. I would clip it to her leash and never leave the house without it. The elixir started as personal use on my dog but soon gained attention on our walks and at local dog parks. People would approach me with questions and wanted to buy our bottles. I then realized the actual selling potential. “Abby’s Elixir” was born. The label was designed using Abby’s beautiful face. She was my inspiration, after all!
Noticed on Social Media
I know it is on everyone’s mind, and as business owners, we are always looking to interact and communicate with our “ideal clients,” and really wanting to get noticed. Let us talk about just that. Getting noticed on social media.
With all the opportunities that we are exposed to, how do we utilize it all? How do we expose our company? How do we reach our dream clients? Let us dig into some ideas that have not only worked for me within my business but for many other companies.
For starters, don’t be shy. It is easier said than done, but it really will make a difference. Showing your face to your clients, customers and followers will grow a connection amongst your social media family. It gives them a face to put a name to and allows them to get to know you.
People connect and feel closer and more intrigued by you when you can open up to them. Get full use out of the Instagram Stories or Facebook slideshows. Showing up is the best way to prove to your viewers that you want this as much as they do!