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Having A Great Idea For A Business Is Just The First Step
Having A Great Idea For A Business Is Just The First Step
You have to be able to cover the bills, and earn whatever it is you need to
survive. Beyond that, you can be a great profiteer, and really manage your
bottom line, or you can continue on making enough to cover the bills, but at some
point you will have to draw on your inner profiteer, because just meeting the bills
every month can fast land you in a fiscal quagmire that will threaten your very
existence. These are the reasons why having a good, solid business plan
from the outset is very important, and then revisiting that business plan
regularly will keep you on track and remind you of why you started this venture
to begin with.
Starting small with the menu might be best to adequately focus on building
the internet cafe side of the business, which requires a much larger initial
investment, or perhaps starting with a coffee shop, and then slowly building in the
internet side of the business is the way you want to go. These are questions that
have to be answered when you establish your business plan, and doing both well
from the outset might be greater in theory than in practice. Try to make a list of
every possible consideration, and then come back to that list a few days later and
see if you can add even more questions; this business plan must be
comprehensive.
Internet Café Business Plan: Industry and
Competition Analysis
Analysis of the industry and competition are somewhat
synonymous. Reminding yourself you have to be able to eventually earn a profit
from your venture will naturally lead to market analysis, and finding out where the
nearest competitors are located. There has to be sufficient market share for the
business to survive. In the internet café business plan, also look at the industry
you are entering from both the cost-of-goods side of the equation as well as
volatility of prices in the commodity you need to procure.
Once all aspects of your internet café business plan are in place, and you
are very familiar with every detail, you are going to be very prepared to
answer all key questions in a small business loan interview. This kind of plan will
also serve to keep you on track as your business goes through cycles that every
business does. It will be the reference point for you every day outlining why you
started this venture, and it will help you build your dream.