Introduction
There is a decision to better purchase an existing company with its following restoration rather than creating an own one from the very beginning. This will actually lead to taking less time and efforts. At the same time, one should definitely highlight that there does not exist a vivid difference amid managing a company you either have bought or have started. This means that a chief manager has to usually perform the same work at these both situations, as the companies’ targets are always approximately similar.
Details about Small Enterprise
First of all, it appears to be fairly right to ponder over the management of any small business along with my one being considered. According to My New Company (n.d.), “They (some small business owners) believe that if you have 10 or fewer employees than you can manage your business by doing as much as possible yourself, then telling your employees what to do and making sure you catch them before they make a mistake or mess something up.”
Advertising the Enterprise
According to Evans (September 8, 2015), “The United States has always been the land of opportunity; anyone has the right and “theoretical” opportunity to start a business and be successful. The risks of starting your own business can be high, but the rewards can be well worth it.”
The main issue why some startups or already existing enterprises expose themselves to crush is the lack of a deserving and well-developed strategic plan. I suppose that everybody has heard that sometimes, while creating or renovating a firm, it is important to ask yourself a list of questions concerning the probability of the exact sequence of ideas or actions along with their further realization.
Spinning the Enterprise
Considering the necessary activities and key decisions before starting a small business, there some alternatives of running the firm’s advertising ought to be turned over in the owner’s mind. Among their huge list, I would like to select the following ones:
1) To both establish and spin your web identity, as almost everyone sits online in the present-day life. For this, you will have to create the company’s website (telling what goods and services the store conducts, providing either toll-free or hot line contacts etc.);
2) It is obvious that you will have contacts with other business people or, at least, your customers. You are to buy business cards. In such a way, firstly, the level of a company can be observed, secondly, a card will always remember the client the place where he or she has had an opportunity to purchase something;
3) Being a little bit popular with local people, you are to find or to wait for chances to be present in social media.
Retrospective
As we all remember, my desired company is going to be named “Dazzy”. By its nature, it must be a cosmetic store that where from different fragrances to “Dazzy” brand will be sold. Due to the favorable conditions (both financial and market ones), my stock is assumed to devour previously existing “Ulta”.
Before we start talking about the whole financial plan for my sole proprietorship, let us just comment on its location. As it was mentioned in the previous paper, it will be situated in Manassas, VA. I must confess this must be a benign situation. Due to its competitive ability, a relative nearness of such cities as Washington, Alexandria, or Richmond will not actually confuse my firm to develop and prosper.
Enterprise’s Financial Plan
Guerrilla Marketing Strategy
Essence. First, let us consider what this strategy actually stands for. In general, it reveals to be any low-budget means of advertisement and marketing that allow to:
1) Effectively promote your good or service ;
2) Attract and to welcome new customers with the following broadening the company’s client database;
3) Maximize profit by investing little money or not at all.
As “Dazzy” is concerned to be a small business without a considerable initial capital, it seems to be cost-friendly to utilize and to develop the guerrilla marketing strategy. As I have already pointed out, this will absolutely help me to increase the company’s profitability contributing less money to the project; still, having a bright opportunity as to obtain, at least, the same quantity of visitors, as if the substantial amount of payments are made.
Possible Ways to Realize the Guerrilla Strategy. To start with, this type of marketing is said to be an astonishing alternative to traditional marketing. Yes, it will be a low-cost variant for “Dazzy”, but it really demands originality, creativity, and even strangeness to some extent. Not long ago, I have chewed the cud and have chosen some possible choices about how to perfect and to develop the advertisement and popularity of my store. Here are the points I prefer and I would like to single out:
1) To find or to employ a designer or a creative to person who will assist us to initiate interesting pictures with our common name (I mean “Dazzy”) with their following realization as graffiti at both legal and crowded places;
2) To cultivate this marketing tactic by using so-called creative stickers (it is often said to be very successful when the process was launched well and right);
3) A little bit expensive pleasure can be practiced at the time the store is being opened, when it seems possible to find volunteers to organize a flash mob in the stock’s honor.
Pros and Cons of Guerrilla Marketing Strategy. To sum up with guerrilla marketing strategy, I feel the desire to name some its pros and cons. Marrs (September 22, 2014) states that “Guerrilla marketing has some advantages and disadvantages. Take both into consideration before choosing to move forward with a campaign.” The strategy’s prominent positive sides are revealed due to the opportunities of being cheap to operate, of conditional permission to think in a creative way, of the promotion snowballing.
The main negative sides I would like to draw attention to are a circumstance for your message (graffiti or grooves) of not to be understood in toto and a situation when your aforementioned messages bump into unpredictable obstacles like bad weather.
Loan
As I have mentioned in my first assignment, the loan will be requested via some bank. This is probably the chief point on my way to the forthcoming startup. To achieve this, it was important to prove that the given amount of money will have been returned to the certain date. Money was in a great need because purchasing of new supplies and products was very important. Moreover, as an entrepreneur, I am to always pay taxes and to pay salary to my employees.
Sometime earlier, I had developed the table with an approximate financial accounting for the nearest three years, so they agreed with me almost at the same moment.
Fortunately, the lenders liked my idea and the request for the loan was immediately approved. I decided to quit the loan within two years because entrepreneurship is persistently connected with a risk. I was around 80 per cent ensured that the plan will have been snapped into action.
Pricing Policy
Last but not least is to ponder over about pricing and other issues relating to the chosen business strategy. As you all have heard, the products on the “Dazzy’s” shop-windows will stand out for their natural consistence. This appears to be a variant without risk of loss. Our world is already spoilt with many harmful chemicals; hence, people are trying to become accustomed to chemical free products.
Our specialists will delve into seeking the best companies to find the best output. In such a way, we want to sell our finest products for suitable prices. The pricing policy, consequently, has to both severe and a little bit compliant. We will really put our common strength to make the products’ prices favorable for both sides (and, maybe, less than our rivals will have). Still, it is important to break even and to remember that the price should be always higher comparing to the cost price of a good or a service.
Plans for Future
Our team do hope that in the near future we will become a powerful store that will perfect year by year and will provide our customers and just visitors with the larger range of services. As satisfied customers is our main target forever, we will actually resort to reporting our ethical and social responsibility. And, of course, our small business have such an opportunity as to go global, we will work on charities.
Conclusion
As any other phenomenon or thing, a financial plan can have either positive or negative influence (sometimes, they interlock in unison with each other). Still, I am a strong adherent to the operational capability of the one I have provided you with.
References
My New Company. (n.d.). Small Business Management. What Is Small Business Management? Retrieved from http://www.mynewcompany.com/managesmallbiz.htm
Marrs, M. (September 22, 2014). The WordStream Blog. 20+ Guerrilla Marketing Examples & Strategies. Retrieved from http://www.wordstream.com/blog/ws/2014/09/22/guerrilla-marketing-examples
Evans, M. (September 8, 2015). Forbes / Entrepreneurs. How to Start a Small Business for Less Than $1,000. Retrieved from http://www.forbes.com/sites/allbusiness/2015/09/08/how-to-start-a-small-business-for-less- than-1000/#754af3552f42
