How to Plan and Kickstart Your Small Business

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Kickstarting Your Small Business: A Comprehensive Plan

This section will guide you through a structured, comprehensive plan to start your small business. We'll cover critical aspects from understanding your business idea to strategizing your market entry, equipping you with the knowledge and tools necessary for a successful kickstart.

Next Video: How to Craft a Powerful Operational Mission

How to Plan and Kickstart Your Small Business – Transcript

So, you’re ready to become an entrepreneur, and you have an idea that you want to take shape and maybe even get some funding from lenders or investors. But do you know what they're going to ask you for? Your business plan. 

It's been found that businesses go 30% further when they plan for their success rather than just winging it. But you don't have an MBA, you're not an accountant, and you don't want to stay up all night crunching numbers. Well, we're here to help you give your ideas some legs. 

Hey everybody, Will Scheren here from Small Business Startup Guide by TRUiC. This video is part of a larger course dedicated to helping small business owners cut through the noise and get to the essentials of starting and operating their business. If that sounds like it would be really useful to you, be sure to like and subscribe. 

Whether you’re wanting to get a business started or get your business going in the right direction, you're going to need a detailed business plan. But as you're considering all of the nuance of your business or business idea, just coming up with the list of everything that you'd need to consider would be a daunting task. But luckily, TRUiC’s been helping hundreds of thousands of businesses over a ten-year period. So, we've done that for you. 

In this part of the course, we're going to show you the best way to plan for your business's success. We'll start by helping you come up with a well-crafted mission statement that would allow you to easily articulate to anyone what it is exactly that you're trying to accomplish, and when you're looking to accomplish your goals by, and how you're planning to go about doing it. And we'll help you figure out how much money you'd like to make and what type of business you should start if you haven't figured that out yet. 

Then, we'll help you come up with financial forecasts for your business, helping you to decide if the business idea that you have could take shape. We'll do deep dives to help you find your market, consider how much money will come into your business, the direct costs associated with each sale, financial considerations considering personnel and other expenses, the cost of purchasing long-term assets, taxes, marketing, and earning distributions. We'll even discuss planning out your cash flow to make sure that you don't run out of money, and we'll go over how to forecast receiving financing in case your bank account looks a little low at some point. 

After coming up with financial forecasts for your business, we'll walk you through some brief branding decisions that you're going to need to have ironed out before you get into some early conversations that you're going to need to have. We'll help you get an understanding of who your ideal customer will be and come up with some adjectives that will help you describe how they should feel when having a positive interaction with your brand. 

Then we'll use that information to write a brief story that will concisely describe the value that you bring to your customers. And finally, we'll make your idea a reality by helping you select the perfect name for your business, and we'll grab a domain name and a professional email address so that your business has a home online. 

And finally, we'll tie everything together with a professional business plan template that you can use to present your fully thought-out business to potential banks, partners, or investors. 

As we mentioned in the opening video for the course, with everything that we cover in the course, we'll be showing you how to apply it click by click as we apply what we're talking about to our imaginary barbershop. 

This video is part of a step-by-step course that provides business owners all of the essential information to start and operate their business. We've provided a link for you to get access to all of the free and discounted business tools we mentioned in the course below this video. 

Be sure to like and subscribe to get more of this content. We'll see you in the next video, and if you have any questions, let us know.