You’ve got a great idea. Cool! You’re Excited to Launch a Business. OK. You don’t have time to write a business plan. STOP
90% of small businesses fail, according to the Small Business Administration (SBA).
Don’t Be a Statistic: Business Plans for Success
WTF? According to Investopedia, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. In other words, lack of planning.
When we started Understanding eCommerce, we wanted to give businesses the tools they needed to compete with established market leaders. CMS websites, like WordPress, were user-friendly and easy to update. Tools like QuickBooks make bookkeeping and accounting manageable. CRM tools like HubSpot make lead management doable for small businesses.
A lot has changed since we launched UE in 2003. Back then, we were building websites by writing code. We followed up with customers on a landline (that’s a phone on your desk for younger folks). And we mailed invoices with a stamp. Since then, a lot has changed, and so have we – but we still encourage our clients to prepare a business plan.
A well-written business plan forces you to consider and understand every aspect of your business. Not that you’ll always get it right, but you will have worked through the thought process. And just maybe, you won’t end up as small business roadkill.
Do you know what CAC, LTV, and churn are? Do you know the difference between a P&L and a cash flow statement? What about user personas and customer journeys? If you don’t, maybe – just maybe – you’re not quite ready to launch a successful business.
We want to give you the tools to succeed. We want you to work through the competitive landscape, understand product positioning and pricing and understand the underlying finances need to support your journey.
The bottom line, we believe in you and want you to be successful. But we also think everyone can use a helping hand. And we are here to help.
Get Rich Quick
Nope. This isn’t about hacks. It is about working and creating a roadmap to launch your business. Do we guarantee you’ll be the next Elon Musk? Probably not; he has 110,000 employees helping him be a success. However, we can offer a systematic approach to understanding your business, customers, and the market.
So, if you are serious, join us. Do the work; in the end, you will have a roadmap to launch and grow your business.