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Biz Tips: The 30 Minute-A-Day Business Plan Part II

November 11, 2010 - Ernest Hohmeyer
Adk Biz Today November 10th, 2010

The views expressed in these articles are opinions and all businesses should consult professional resources such as legal, accounting, and appropriate regulatory agencies before making any business decisions.

Biz Tips: The 30 Minute-A-Day Business Plan

From An Idea

Your Vision/Passion Statement Key Services/Products The Target Market Operation Factors Financials

To Thinking About $$$

Hopefully, based on last week’s article you will have deliberated what your vision is and without considering for the moment reality, shot for the moon with what your business to look like. Remember this is not an exercise just for those going into business but in today’s changing and challenging times we all need to look at our initial dreams for our business, is it still valid today and where is it going.

Part II From Your Vision You Can Begin to Identify Key Services/Products. Services or products can be existing as well as new, depending on your vision. In Saranac Lake and Tupper Lake there has been recent energy on the “Arts”. But this may not be the narrow definition of the arts that you may be used to. In Saranac Lake as part of the Marketing Your Community for Business sponsored by the ADE and the Chamber, the vision is of a arts destination appeal with all the arts including performing, culinary, visual, literary, adventure arts, health and wellness arts and others. In Tupper Lake, they are determining the feasibility for an “Arts Incubator”. So to help folks with this exercise I thought it might help to use a factious business to see how one may complete this exercise. The following is not a real business but one I will use for illustrative purposes only: Sample of a Vision Mr. and Mrs. John Dough would like to operate as a business an (remember we are dreaming now) internationally recognized Arts Destination Center (ADC). The ADC will be a comprehensive center where visitor’s and residents alike can immerse themselves in simultaneous arts activities including performing, culinary, visual, literary, adventure arts, health and wellness arts and others. The goal is for whole families to enter the Arts Destination Center that would operate analogous to a mall. Families or groups could enter the mall and individually entertain themselves to a wide range of activities including musical and stage performance, film, literary readings, culinary demos and dining, artist displays and wellness workshops. As a destination center, internationally recognized “Art” celebrities would work side by side with regional and local artists. Mr. and Mrs. Dough’s real passion is to own a building that would be a celebration of the Adirondack Arts as they are artists themselves.

Key Services and Products In this imaginary business there are several key services and products. These include the goal to provide a performance/movie arena, artist displays, culinary stage/dining area and individual retail/workshop space. As you list these products and services keep them in separate categories. In next weeks exercise, we will begin to explore the reality of our dreams and business passion.

A Biz Helping Hand Fellow entrepreneurs: Comments? What business plan resources do you use that may be helpful to others?

Please help us establish links and resources that businesses can use at the AdkBizToday blog.

 
 

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