Going Into Business in West Virginia - West Virginia Department of ...

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Identifying Your Market These ideas are from an Edward Jones-sponsored Webinar, “Service is #1 at Wal-Mart.” You might disagree, but these are their corporate ideals that are not necessarily translating down into store operations. But that doesn’t mean they’re bad ideals. What is your “usP” Unique Selling Proposition Most businesses know their uniqueness. They’ll even tell you their point of difference in a conversation. Yet, you won’t find it on the front page of their Web site. It’s swept under the carpet in their brochures and newsletters. When they stand up to speak, they forget to make it an important part of the spiel. Get your uniqueness where it can be seen on a consistent basis. Not hidden under a bushel. In one concise statement, communicate your business’ most compelling offer and benefit so the customer can answer “What’s in it for me” Invent your USP. The owners of the following businesses all invented their own uniqueness. • Subway — Seven subs with “6 grams of fat or less.” When did a restaurant start telling you how much fat was in their food • Federal Express — When it absolutely, positively has to be there overnight. Overnight delivery was a new concept when Fed Ex started. • Domino’s Pizza — 30 minutes, or it’s free! Pizza in 30 minutes Before Domino’s, it didn’t happen. Consumers see or hear more than 2,200 messages each day. Make yours stand out in the crowd. Use the marketing worksheet at the end of this chapter to begin looking at what tools are available, what you have done, what you are doing and what you can do. How many of these tools are inexpensive and effective Use the marketing information you gather in your plan to develop an advertising budget, which is discussed in the following chapter. Contact your local SBDC for help in putting your marketing plan together. Find you local center on the SBDC Web site, wvsbdc.wvcommerce.org or call the Business Ask Me! Line toll free at 888-982-7232. The marketing information contained here is based on comprehensive research and best practices identified from national and international marketing experts and sources. 44 Going into Business in West Virginia
Identifying Your Market Marketing Worksheet Name of Business What have you done What are you doing What might you do MARKETING TOOLS Logo Slogan Name How to reach you Business cards Brochures Fliers Web site E-mail signature Answering machine Voice mail Answering service Signs 800 number PRINT Brochures Print media- papers Yellow pages Magazines Newsletter Val-pak West Virginia Development Office–Small Business Development Center 45
Page 1: GOING INTO BUSINESS IN WEST VIRGINI
Page 4 and 5: Table of Contents Chapter 7 Chapter
Page 6 and 7: iv Going into Business in West Vir
Page 8 and 9: Getting Started Owning a business a
Page 10 and 11: Getting Started Personal Considerat
Page 12 and 13: Getting Started Notes 10 Going int
Page 14 and 15: Finding a Business Starting and gro
Page 16 and 17: Finding a Business • What are the
Page 18 and 19: Finding a Business Notes 16 Going
Page 20 and 21: Choosing a Business Location Your C
Page 22 and 23: Choosing a Business Location Before
Page 24 and 25: Choosing a Business Location 22 Go
Page 26 and 27: Deciding on a Legal Structure The f
Page 28 and 29: Deciding on a Legal Structure Disad
Page 30 and 31: Deciding on a Legal Structure perso
Page 32 and 33: Deciding on a Legal Structure partn
Page 34 and 35: Deciding on a Legal Structure and z
Page 36 and 37: Selecting Your Insurance At some PO
Page 38 and 39: Selecting Your Insurance What are t
Page 40 and 41: Selecting Your Insurance For furthe
Page 42 and 43: Identifying Your Market No matter H
Page 44 and 45: Identifying Your Market Generally y
Page 48 and 49: What have you done What are you doi
Page 50 and 51: Identifying Your Market Notes 48 G
Page 52 and 53: Advertising Your Business Advertisi
Page 54 and 55: Advertising Your Business 5. Don’
Page 56 and 57: Advertising Your Business • Disco
Page 58 and 59: Advertising Your Business Notes 56
Page 60 and 61: Financing Your Business Will YOu ne
Page 62 and 63: Financing Your Business Review and
Page 64 and 65: Financing Your Business Small Busin
Page 66 and 67: Financing Your Business There are o
Page 68 and 69: Financing Your Business The Renewab
Page 70 and 71: Financing Your Business Venture Cap
Page 72 and 73: Financing Your Business Some state
Page 74 and 75: Financing Your Business Also, work
Page 76 and 77: Keeping Your Books Why keep reCOrds
Page 78 and 79: Keeping Your Books Federal Income,
Page 80 and 81: Keeping Your Books BooKKeeping sYst
Page 82 and 83: Securing a Business License Getting
Page 84 and 85: Securing a Business License File a
Page 86 and 87: Securing a Business License What is
Page 88 and 89: Securing a Business License What if
Page 90 and 91: Securing a Business License Departm
Page 92 and 93: Securing a Business License Contrac
Page 94 and 95: Securing a Business License Notes 9
Page 96 and 97:
Business Planning Why write a busin
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Business Planning Review the list o
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Business Planning Notes 98 Going i
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Finding and Hiring Employees How do
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Finding and Hiring Employees Job ap
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Finding and Hiring Employees The an
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Finding and Hiring Employees Center
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Finding and Hiring Employees Federa
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Reporting Taxes As an entrepreneur,
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Reporting Taxes To file, use the fo
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Reporting Taxes Warehouse “Freepo
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Reporting Taxes 3 SIMPLE STEPS If y
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Reporting Taxes Notes 118 Going in
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Using West Virginia’s Business Re
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West Virginia Development Office Sm
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