Thinking about opening a phone directory advertising business? We tell you what you need to know to get started.
(article continues below)
How to Create a Winning Phone Directory Advertising Company Business Plan
If you've done your homework, you already know that writing a business plan is the most critical thing you can do for your company.
We'll add one more voice to the chorus – writing a solid business plan is the most important thing you can do for your startup. If you take your business plan seriously, the end product will be a document that will guide your company through the critical first year and beyond.
Here's something else you should know: Business plans help prevent key startup mistakes. Lacking a solid business plan, many startups find themselves rudderless and incapable of executing consistent decision making processes, while committed business planners rely on their plans to guide all of their decision making and short-term planning efforts.
Evaluate the Competition
Long before you open a phone directory advertising business in your area, it's a smart move to see what the competition looks like. Use the link below to generate a list of competitors in your area. Just enter your city, state and zip code to get a list of phone directory advertising businesses in your community.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
After you've evaluated your local competitors, the next step is to talk to somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. It'd be crazy for them to teach you the business.
However, a fellow entrepreneur who has started a phone directory advertising business outside of your community can be a great learning resource for you, after they realize you reside far away from them and won't be stealing their local customers. Many business owners are happy to give advice to new entrepreneurs It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Want the scoop on finding somebody who runs a phone directory advertising business on the other side of the country to talk to?
It's easy. Here's a link you can use to find a mentor outside of your area.
Acquisitions vs. Startups
Unfortunately, many inexperienced phone directory advertising business entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition.
Both ownership strategies have their benefits and drawbacks. For first-time business owners, it makes more sense to buy an existing phone directory advertising business than to attempt to build one from the ground up.
The good news is that a phone directory advertising business acquisition is a recognized name and usually comes with a loyal customer base. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.
Don't Rule Out Franchising
The four-year survival rate for business startups is less than fifty-percent. To increase the likelihood of success, it's worth considering the possibility of buying a franchised phone directory advertising business opportunity. Franchise startups have something traditional startups don't -- the reassurance of a network that is invested in their long-term success.
At a minimum, click the link below to explore the possibility of pursuing a franchised approach to your phone directory advertising business startup.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing phone directory advertising business, these resources will come in handy:
If you came here to learn about selling to phone directory advertising 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.