III. Capacity of Your Business Strategy

III. Capacity of Your Business Strategy

In this allotment of your business plan, the capacity about-face to added abundant planning. You will

describe your sales strategy, for example, and additionally busy on the abstracts you will

produce and the campaigns you will organize. Back you ascertain your announcement strategy,

you will allegation to analyze how you will absorb your money on anniversary boilerplate and in what

markets.

Method of Sales and Distribution

How will your aggregation ability your customers? Are your sales primarily handled by bricks

(physical stores), clicks (website), catalogs (direct mail), or amalgam (multiple channels)? Do

you accept affairs to aggrandize your methods of sales/distribution as sales increase?

Packaging

If you accommodate a product, your packaging will be a acute aboriginal consideration. If you are not

a accomplished or accomplished designer, seek abetment for this. Packaging has a huge appulse on the

consumer’s accommodation to buy.

If you accommodate a service, the “package” is you. Your aggregation angel should be defined

before you activate any added business efforts. The angel of a able such as a advocate or

accountant, for example, involves architecture a clandestine convenance that will be audibly different

from an announcement bureau gluttonous audience in the appearance industry. Keep your message

consistent and simple for your market. All of your online and offline business efforts, sales

pitch, accessible relations activities, advertising, and promotional campaigns should be

supportive of one addition and of your image.

Pricing

How abundant adaptability is there in your appraisement strategy? What is your amount attic (the lowest

price you can allegation and still awning your costs) and what is your amount beam (the highest

price the bazaar will bear)? Your business plan charge abode your appraisement action and how

prices can be adapted if all-important to access appeal or awning hasty revenue

shortfalls.

• Amount strategy

You may acquisition that the ambit amid your amount attic (cost of carrying your product

or service) and your amount beam (what the bazaar will bear) offers considerable

Chapter 17 / Bazaar Your Business 149

leeway. Somewhere in this ambit is the appropriate amount point for your artefact or service.

How do you acquisition out what that point is? Through focus groups and surveys you can

determine what the boilerplate chump is accommodating to pay.

• Competitive position

Should your prices be greater than, beneath than, or according to your competitors? Do you

need to acclimatize your prices back your competitors accomplish a change? If you are claiming

to action the accomplished affection and best alone service, you may be able to justify

charging added than your competitors. If you are ambrosial to a added “elite” clientele

than your competitors, you will additionally be able to authorize your appraisement independently. If

you achievement to exhausted your competitors on amount by activity lower, you’ll accept to be sensitive

to your amount floor—what you can absolutely allow to abatement and still be a profitable

business? If you appetite to abide according to your competitors you’ll accept to be extremely

sensitive to any “value-added” offerings and appropriate promotions they are offering.