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Strategy and Implementation Summary
What is your universal strategy to make your business a winner and how will you go about this?
Music Store Marketing Strategy
What are the tangible ways you are going to use in order to market your Music Store business to your present and potential customers. You can moreover add the costs involved in doing this and strategies involved in lowering your marketing expenditure and how your marketing strategy can target your customers better. For example if you are using Pay Per Click as a structure to target Music Store patrons you may draw on long tail keyword search phrases preferably than short generic words. This ought to shrink your Pay Per Click expenditure as well as laser targeting your patrons; though it will of course take longer to set up. Read more about marketing strategy.
Music Store Pricing Strategy
How did you work out your price points products and services? Are you going to use cost-plus pricing, limit pricing, loss leaders, market-oriented pricing, penetration pricing, price discrimination, premium pricing, predatory pricing, contribution margin-based pricing, psychological pricing, dynamic pricing, target pricing, absorption pricing, high-low pricing, marginal-cost pricing, odd pricing, freemium or pay what you want pricing?
Check out this article on pricing up your products
Promotion Strategy
What promotion strategies are you going to apply to get the word out about your products and services to your likely customers - are you going to do media releases, hold events, networking, sales pitches, follow-ups, have promotional products?
Business Competitive Edge
Do you have some advantage over your opposition that you can exploit to your benefit? Are you able to keep your overheads lower than your opposition so that you are at all times the cheapest? Do you have a first-class location? Are you the pioneer or the only one to provide a product or service? Are you capable of staying ahead of the competition and if so what enables you to do this? Do you have a good class, trademarks, patents or a licence?
Web Strategy
Are you just going to have nothing at all or an all singing and dancing website with bells and whistles on? In most scenarios it is going to be something in-between these two, and you ought to consider long and hard where your company is going to position itself. You can visit this website and get more info with reference to putting your Music Store business online.
Sales Strategy
How are you going to pick up sales for your Music Store business in the first place and how are you going to expand or preserve sales as time goes on? How much are your sales going to cost you? Make sure you know what questions to ask of your budding clients and know the answers to likely questions they will ask you. How are you going to encourage a rapport with your customers to get future sales from them? How are you going to monitor your sales? Do you want to increase your sales?
Formulating a good business proposal will increase your chances of getting a sale. Use this sample Music Store business proposal to assist you.
Management Summary
Management Team
Who are the core players in your business?
Music Store Organizational Structure
What is the structure of your business - who is in charge of each division in your company?
Personnel Plan
This should be a register of every person in your company, their salary and what if any share options they have for now and in the future. You can also add what type of contracts they have, long and short term and whether that is apt to change in the future or not.
Music Store Financial Plan
Will you bring all your own funding or will it be an assortment of your funds, bank loans, or angel investors? Do you need help in writing your financial plan?
Music Store Break Even Analysis
How long will it take to get your investments back in terms of capital outlay by means of sales of your services and products. You ought to represent this in a graphical format. You can obtain free breakeven analysis including a spreadsheet and simple examples.
Music Store Profit and Loss
You can embody profit and loss in the form of a monthly and yearly bar chart as well as tables. Obviously these should be revised as your business goes along on a monthly base. You can obtain a free profit and loss spreadsheet to assist you.
Music Store Cash Flow
You ought to have charts and tables to demonstrate your cash balance and your net cash flow. Download a free cash flowspreadheet.
Appendix
This ought to embrace all your necessary information which makes your business operate efficiently. This ought to be your business financials - so all your tables of numbers, tax returns, inventory estimates and personal and business credit history information. The information in the appendix is highly confidential and ought to only be given to would-be investors.
Exit Strategy
How exactly are you going to sell your Music Store Business?
Music Store Business Plan Page 1 | Music Store Business Plan Page 2
Useful Music Store Resources
Music Store Marketing Plan | Music Store Equipment | Music Store Online
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