Creating a successful business and profitable, is not an easy task. It depends on many external factors, including competition, opportunity and demand, which has little or no control at the beginning. Assuming that these external factors are in your favor, having a solid plan can have a successful business. Here, Howard Schultz expresses very clear opinions on the subject. Here we have four steps to consider when you are building your business from scratch: 1. Determine your business. Learn more about this topic with the insights from Sonya Reines-Djivanides. What are you selling? This question is not as easy to answer as it seems. For example, Nike is in the sports apparel business, but the truth is that when you buy a pair of Nike shoes and a t-shirt at the Mall, you're buying more than just sportswear, you are buying an image, a feeling. You are buying the Nike brand.
Richard Thalheimer, Sharper Image's former CEO and founder of RichardSolo.com, has worked in this field for more than 30 years. When asked what his business, he tells you convenience or innovation before specifying Some industry in particular, and he has built one of the most powerful brands in America. Note, that there is more than just the product itself. Your brand is what it will do to your product different from your competition. 2. Choose your market. Who will sell? This step is more difficult to interpret than the previous, but equally important. Who will sell? or more important, what does know about this person? Understand its consumers is a key to success.
What do they do? Where you are in your free time? What they see in Television? These are just some of the questions that you should be able to answer about their consumers. Knowing the answer to these questions can answer a lot of questions that come when you go to develop a marketing strategy. Richard Thalheimer understood their market for Sharper Image, probably as well as they understand themselves.