When you have completed the research for choosing your training plan provider in your Home Staging Business start-up, a key feature is your Business Plan. In my research of best practices and benchmarking as I developed my business training plan, it was obvious the area of business planning is minimized by most.
So, I want to just suggest some of the key elements of your business plan that you should learn from your training provider.
Start with your Vision and Mission. Can you successsfuly articulate your business Vision and Mission? Have you committed that to writing? It is essential to have a business process that requires review of your performance against that Vision, otherwise how will you adjust your strategy if you are not successful? Ensure the training provider you choose guides you through this vital process first!
The ideal scenario would be as you begin the process you commit to your Vision and Mission. When your training is complete and you have made the myriad of other business decisions for your Business Plan, that you check your Vision and Mission again.
As an example, when you first start building your business and business plan, you may expect to provide vacant staging, occupied staging and consultation. But, as you better understand the potential revenue streams for the Home Staging Business and build the Business Plan, you may decide after market research required in the business plan (will discuss in upcoming articles) that inventory and carry costs are too great and choose to reduce the scope of the business to exclude vacant staging.
At a minimum make sure your training provider is focusing you on flexibility and as you flex your business plan, you know to go back to your original Vision and Mission to make your strategy meet your new scope.
Your Vision and Mission are the statements that tell your potential clients who you are, what you are about, what you do and for whom you provide services. It is a critical aspect of your business plan.
Think of your Vision and Misson as succinct representations of your business purpose for existence. It is socially meaningful. It includes measureable criteria that address concepts like moral/ethical position, public image, target market demographics, products and services you will offer, your geographic service area, and your expectations of growth and profitability. It touches many parts of your Business Plan and is integral to success. If you training provider does not focus you here, your oportunity for success may be limited.
Tags: business decisions, home staging business, original vision, plan provider, revenue streams