Know-How Exchange : Strategy

Bets analyze - make a pair of business plans one for each case). Some of the data will be the same for both, and some will be different. Overall, this will take a lot of work, but is the best way to get the information all together so you can make a good decision.

If you have a lot of money sitting around and feel like investing it, start out big. Otherwise, the sensible thing to do is start small. Work out the technical issues, develop your systems, create a marketing strategy, test what works, and build your prospect list. People are unlikely to invest in a brand new business idea, but are interested if the business is already a proven success but needs capital for growth.

There's always going to be competition. Don't rush a half-baked idea to market. Do your homework first, then reap the benefits.

I am big on the starting small. I think starting big is a good way to lose a lot of money. There are some businesses that have to start big, but if you can avoid it do. There will be a lot to learn, so it is better to learn it while things are small and manageable.

Jay is rifht that there will always be competition. I believe this is another reason to start small. As a small outfit you are much more able to give great customer service. This is usually one of the major things that help when there is competition.

Hope this helps,
Mike

Turk --

I agree with my marketing colleagues, especially Jay's comments: "...start small. Work out the technical issues, develop your systems, create a marketing strategy, test what works, and build your prospect list. People ... are interested if the business is already a proven success but needs capital for growth."

Earlier this week a client discussed getting a new product on the market before it was tested. In the very least, some people who would be the targets/potential buyers should test it first (see how it works, get their feedback before it goes on te market)

If you need help creating a marketing plan and strategies, you can check this Forum's Resource library or contact marketing consultants like me or my Forum colleagues for help.

Good luck.

Corpcommer - MC

Turk --

I agree with my marketing colleagues, especially Jay's comments: "...start small. Work out the technical issues, develop your systems, create a marketing strategy, test what works, and build your prospect list. People ... are interested if the business is already a proven success but needs capital for growth."

Earlier this week a client discussed getting a new product on the market before it was tested. In the very least, some people who would be the targets/potential buyers should test it first (see how it works, get their feedback before it goes on the market).

For help creating a marketing plan and strategies, you can check this Forum's Resource library or contact marketing consultants like me or my Forum colleagues.

Good luck.

Corpcommer - MC