This week we gave ourselves a little bit of homework. We each sat down separately and tried to brainstorm ideas of what we want our business to look like over the next couple of years. Next week, we will combine the two into one business model/plan. The questions we gave each other are in bold, Mom’s answers are in purple and Daughter’s answers are in brown.
Vision Statement: ( what our business will look like in 2-5 years)
Within the next ____ years, grow A Simple Cookie into a successful $____ local, regional, national, international _________ (type of company) providing or specializing in (describe products or services) _________________ to (target market description ______________________________
Haley/ Daughter: Within the next year, grow A Simple Cookie into a successful local business with profits of over $2000 per month that provides a feeling of comfort with simple ingredients perfect for those missing home to those who want a special gift for their client or family member.
Mission Statement: (Why this business exists from the point of view of our customer)
What do our customers want from us?
We want to provide a feeling. A positive nostalgia of home, of comfort, and of simple and non-chaotic times.
Describe why our business exists in 8 words or less.
Example: Allstate Insurance mission statement: You’re in good hands with Allstate
We make simple, good.
We make simple, good.
Objectives: these are measurable results. What results do we need? List 5-9 goals that our business must achieve to be successful. Such as:
- Increase sales from 2017’s $11,000_____ to 2018 $25,000______
- Establish online presence; website
- Acquire wholesale/ retail accounts for sustaining regular and multiple revenue streams
- Establish ASC with UA [University of Arizona], student care packages, staff appreciation and events
- Establish and maintain social media presence
- Maintain regular farmers’ markets and local/regional special events in order to sustain our existing customer exposure and establish new clients
- Increase profits from sometimes breaking even to $1000 per month in the next 6 months (equal to a part-time wage)
- Increase profits from $1000 per month to $2000 per month in the next year
- Increase our Social Media following by 50 people per month
- Increase our sales by 10% each quarter?
Strategies: defines how our business will be built and managed. Describe 5-8 things that our business must do well over time to be successful.
- Positioning: Become regionally known for quality, old fashioned baked goods..
- Revenue model: Generate revenues by farmers’ mkts, online, and wholesale / retail sales
- Markets / customers: Focus on quality and consistency
- Promote products by social media and email marketing.
- Client / customer retention: how? Email through website; reminders for special events and holidays – upcoming market events as well as regular market presence.
- Positioning: Become regionally / nationally known for … our simple comfort food
- Revenue model: Generate revenues by increasing our online presence and cold emailing/calling local potential buyers
- Markets / customers: Focus on retirement community, university students, local commercial companies, and people who are too busy to bake gifts for their friends and families
- Promote products by blogging our story and creating a connection with our followers through social media and our website
- Client / customer retention: how? Keep them in the conversation.
- Reply to posts
- Like their posts
- Ask questions
Action Plans: What are the 6-8 projects that we must complete this year?
- Complete (project name): Social Media Plan of attack – calendar for three platforms
- Roll out (project name): Website / AZ ordering online /
- Implement (project name): UA Care Packages
- Create (project name): Breakfast Cookie
- Establish (project name): Marketing program for businesses: staff/client appreciation, and marketing program for wholesale/retail establishments
- Install (project name): Email campaign for previous customers/clients from square or website generation.
- Complete (project name): Our business plan
- Roll out (project name): website and blog
- Implement (project name): a workable blogging and social media posting schedule
- Create (project name): relationships with local businesses who would buy our product
- Establish (project name): local repeat clients
It was good to see what both of us were thinking when it comes to our business model, vision, and the measurable goals to achieve over the next year. Now we are going to work this week to combine these ideas into one stronger idea of how our business will grow and what we want it to look like in the future.