Thinking about opening a marketing sales business? We tell you what you need to know to get started.
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Best Practices: Business Plans for Marketing Sales Businesses
In a startup marketing sales business, there is no substitute for a high quality business plan. The effort you invest in the creation of your plan now will pay off later in lender responsiveness, investor attention and strategic confidence.
Business plans address a wide range of issues, including startup financials. Not surprisingly, lenders immediately turn to the financial section and use the accuracy of your forecasts to gauge the value of other parts of the plan.
With so much riding on your business plan, we recommend getting a firm grasp on business plan financial basics before you start writing the other parts of your business plan.
Review the Competition
Prior to opening a marketing sales business in your town, it's essential to see what the competition looks like. Use the link below to find competitors nearby. Complete the form by entering your city, state and zip code to get a list of marketing sales businesses that are close by.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you are interested in starting a marketing sales business, it's a wise move to learn from folks who are already in business. It's very unlikely that the local competition will talk to you. It'd be crazy for them to teach you the business.
Fortunately, somebody who runs a marketing sales business outside of your community will be much more likely to talk with you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs If you are persistent, you can find a business mentor who is willing to help you out.
Want the scoop on finding a marketing sales business manager outside of your area who is willing to talk?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Marketing Sales Business Acquisitions: Financial Considerations
You've invested a lot of time and effort in planning your startup. But here's something you probably don't know: Startup marketing sales businesses consistently fail to achieve the financial performance of acquired marketing sales businesses.
Financial risk management requires you to at least consider the possibility of setting your startup plans aside to explore acquisition opportunities. At a minimum, it's worth exploring the financial benefits of buying a business to get an established customer base.
An acquired business also has documented assets and earnings - a big advantage with lenders and investors.
Franchising May Be a Better Way to Go
Purchasing a franchising jumpstarts your business by letting you leverage the franchisor's brand recognition and proven business formula.
If you planning on starting a marketing sales business, you should determine whether there are good franchise opportunities available that might increase your chances of success.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These interviews should be of interest to you.
These additional resources regarding starting a business may be of interest to you.
If you currently own a marketing sales business, these resources will come in handy:
If you sell to marketing sales businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.