When becoming an entrepreneur it’s really easy to become so bogged down with the details of creating products for your startup, that it’s easy to neglect a lot of the business details. From a lot of entrepreneurs I speak to, it’s incredibly tempting to have the mindset of “If I build it, they will come.”
In other words, “If I post on Twitter exciting news about my product, my target audience will want to buy it!”. This dream like state of financial success is one of the reasons as to why 50% of small businesses fail. Since there’s no structured plan in place to sell your products and services.
One of the first steps towards creating this practicality when creating a plan to create financial success for your startup is to think of your products and services as units. For instance, let’s say your startup is in the business of selling t-shirts. Well, every t-shirt would be one unit.
Next, you will need to have an idea of how many units you can sell in one month.
There are two ways to do this:Continue Reading: https://taschahalliburton.com/2017/01/16/how-to-implement-sales-forecasts-to-increase-your-startups-profit/#entrepreneur #startup #sales #marketing #profit #business #education