LaunchBiz
C Kuhuni Attorneys is excited to offer new entrepreneurs and startups a complimentary toolkit for success, LaunchBiz.
This free toolkit offers the resources necessary to build a strong foundation based on best practices. In a nutshell, this means making smart decisions from the outset to ensure that once your product or service arrives at the marketplace, it remains there.
The startup journey is unique in that the marketplace will, essentially, welcome anyone who wants to join. Technology makes it even more inviting by enabling businesses to be managed online. With all the stories of online success and 4-hour work weeks, the possibilities seem limitless.
Regardless of the type of business you plan to launch, the single smartest investment you will ever make is to conduct a thorough study of the marketplace where your product or service will reside before registering the business. Why is this critical? Because it will reveal the volume, pricing and direction of potential competitors and scope of industry opportunity.
Next is to create clarity around the annual revenue the business is expected to produce and how long it will realistically take to achieve it. A good rule of thumb is five (5) years to break-even, taking into consideration the wide range of variables that cannot be anticipated in the early stages. Chief to the sustainability of your business is a core understanding of how you intend to maintain revenue year after year, and how you will make that revenue grow.
Both steps (studying the marketplace and deciding revenue) take time. Be patient with the process and never underestimate the importance of careful planning. It takes a sharp axe to properly fell a tree, and business is no different. Sharpen your understanding first, get clear about creating a
strong foundation and recognize when course corrections are needed.
Most of all, believe you can do it! One person can change a service, a product, an entire industry. Now that you understand the most important benchmarks, it's time to get started!
Download LaunchBiz.* here.
*This downloadable material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal, tax or accounting advice, nor does downloading this material in any format constitute an attorney-client relationship. You should consult a professional for legal, tax or accounting advice.