Business Planning

Higgins & Associates
 

Have your recently asked yourself...

An short example...

Say your vision is to be the most popular restaurant in town, with vacationers and locals alike never missing a week without stopping in for a meal.

Then your plan to get there probably will need to include the five "P's" of marketing:

How do you decide on the first three "P's"? By understanding the 5th "P" - people - and by deciding how you could position your own brand to serve a set of their needs better than any competitor.

And why do most businesses fail? Either because (a) they don't have an easy-to-define target market and end up squandering resources while they search for their market niche or because (b) they don't have enough working capital to grow the business and go broke waiting for sales to improve.

Lesson #1: Start with a brand positioning exercise to be able to say with confidence WHO your target market is, and WHAT it is you provide to them better than any competitor.

Lesson #2: What is the size of your target market and your forecast market share?

Lesson #3: Draft your budget and business plan to see what it will take to reach that market share.

Lesson #4: ...

We have over 10 years of national marketing experience successfully managing some of the biggest brands in the country.  We'd like the opportunity to share some of this with you!

(By the way: The Internet part of your overall plan might include making it easy for people to be aware of your restaurant with a web site that talks about the first three "P's" - and links to your web site from other popular web sites. Promotion might include a monthly e-mailed newsletter - with your daily "specials." Perhaps a few online photos of the inside of the restaurant - or a photo gallery of your customers.)