First, let’s review!
Previously, I provided information to help you determine if your ideas are a business opportunity, how to identify your target audience and to develop your “I AM…” statement (in case you missed it read it here Becoming a Mompreneur).
Every idea may not be a business opportunity for various reasons, and it is essential to understand why it is or not. As you are developing into an entrepreneur, you will need to realize if you can learn the skills necessary or if you can create a team to make your business a reality. However, some of your ideas can be challenging because the resources are limited. Remember your idea should be apart of your passion and solve a problem in the community.
The idea can be great; however, understanding whom you intend to sell your product or service to requires more attention and time. Understanding whom you plan to market will benefit your business in multiple ways.
For example, I am the mom of an awesome manchild-toddler. For me, the majority of the time I wear a comfortable shoe that allows me to keep up! I do wear heels from time to time. If you were selling shoes to me, good deal-you have my attention. If you were selling a variety of shoes i.e.heels, flats, and sneakers- I am going to review your site and see what you have. If you were selling a range of shoes for adults and children reasonably priced more than likely I am going to buy!
As a Business Owner, understanding or considering small details about your target audience can impact how and what you sell to them. I provided steps to do so in Becoming a Mompreneur.
Developing the “I AM…” statement is important because it is the foundation of who you are as a Business Owner, the problem you are solving with your business and the services that you provide. Think about it as an elevator speech- quick and straightforward. This statement will be critical to providing consistent and explicit content to your audience. I am not only speaking about social media either, but also website development, presentations, and engagement with potential clients.
What happens now?
Reserving the name of your intended business is essential. To do this visit https://geauxbiz.sos.la.gov. If your business name is similar to or close to an established company, you may need to select a new name. Also, there is a fee associated with reserving the name of your business. Your business name and logo should connect to your target audience and the company. If your business is Health Services having a cartoonish logo may not impact your target audience the way you intend or want.
Services and prices are necessary to figure out! If you are unsure about what you are providing or how you are providing services, when you are presenting your business you may struggle to connect the dots when potential paying clients are asking for additional information. Also, your services/product should be clear and in align with your “I AM…” statement. Prices can be tricky because you want to make sure you are charging your worth, but affordable to your target audience. Survey potential clients to gain understanding if they would be interested in services or willing to pay for your services.
As Owner & Capacity Strategist of Envision Me, I provide support and guidance to entrepreneurs in various stages.
If you are interested in creating a business:
In need of assistance establishing your business
Help to identify and to connect to the target audience
Building a business plan
Ensuring your business is recognized by the State of Louisiana
Alternatively, maybe you have created your business, and you want to:
Expand your target audience or strengthen the connection between the company and audience
Clarify your message and content development
Provide opportunities to showcase your business
Business Service Review