Business and Product Strategy
As an experienced entrepreneur, I have sourced capital and started a small business from the ground up and then continually managed the P&L and developed and executed short-term and long-term growth plans.
There is no one manual for starting and managing a business, one-size doesn’t fit all. I have experience starting a business and growing revenue by 80% in the first 5 years as well as positioning the entity for an acquisition and successfully transferring the assets and brand equity post sale.
From dream to reality Understand if your business idea or product has a place in the market based on market analysis, competitive landscape, and sizing the revenue opportunity. Developing pricing based on a distinct balance of cost-plus and value-based pricing strategies is essential to putting the profit margins in place that will allow you to scale for sustainability and growth.
Business entity Deciding to start your own business is a big decision, and that decision is often defined by specific goals. Identifying the reason “why” you want to be a business owner should also inform the structure of the business you stand up. Do you want to achieve rapid growth with the goal of selling the entity? Or do you want to establish a small sustainable business that allows you to get your hands dirty every day? Goals like these should be protected and are integral in considering the involvement of partners, angel investors, and business loan options associated with standing up your business.
Trademark considerations Secure proper word and brand marks that protect your business and product against brand confusion and intellectual property protections.
Business performance How you measure your success should be decided at the onset of your business/product launch. The organization of your financial record keeping is instrumental for all decision-making points and should be managed so that risks are calculated and monitored easily.
Selling the business Exit strategies should always be in your initial business plan, even though it might seem so far off and unpredictable. The exercise itself will help you to think through your long-term goals and various scenarios. If your goal is to sell your business, a multi-step, multi-year plan is the ideal strategy toward achieving the highest potential price. Brand equity and customer-base is your most valuable asset, so think about how you might best transfer them to ensure the success of your buyer.
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