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Having gone through our business plan and looked through our concept and processes, the business consultant deployed the SWOT strengths, weaknesses, opportunities and threats analysis that would help in determining our rate of making it in the industry.
We also have put much emphasis on our business structure in the sense that we are careful in sourcing for and recruiting the right employees who are professionals and competent enough to ensure that we attain our corporate goals and objectives.
Also, we are strategically located in Mountain View — California as there are new start-ups cropping up every now and then in the service based industry often looking for guidance on how to succeed.
Finally, the experiences that our owner, Brad Bradley is bringing to the table are more than likely to help us attain our corporate goals and objectives and succeed. Weaknesses Our weaknesses lie in the fact that we are mostly a virtual business incubator offering services to our clients, and this might affect clients who are not in our geographical location.
Also, the service based industry is one that requires that we might have to intensely compete with other already established business incubators for clients; however we have put strategies in place that would ensure we create awareness for our business.
Opportunities The opportunities that abound for us as a business is in offering other new services that might crop up as the business and industry evolves leading to more streams of income.
Also, there are many investors looking to invest in service based ideas and so we would not have a lack of investors for start-ups requiring this. Threats Every business is faced with threats every now and then and as a business we are prepared to face any threats that might crop up during the course of starting or running this business.
Therefore the threats we are likely to face are government policies concerning business incubators that are established for profits. Also, we are likely to face the threat of an arrival of a competitor in same location offering same services as we do.
However as ataccording to the National Business Incubator Association on the state of the business incubation industry, it was found that business incubators had tripled.
Also, most of the incubators that receives higher attention and funding were those that were in technology-based. Incubators that have also received a fair share of attention are those that target disadvantaged populations such as minorities and women. Business incubators especially those for small businesses have played a major role in economic development by enhancing the survival rates of companies.
This has led business incubators especially those for small businesses to be seen as an accepted economic development tool in the rural and urban areas all over the United States of America. Our Target Market In deciding the target market for our business incubator program so as to know what range of customers we would be likely serving here in Mountain View — California in reference to our niche category as well as all over the United States of America, we have conducted a market research that would help us in this regard.
The reason for the market research is so as to know what our target market would likely be expecting from us. This would allow us draft the best strategies that are not only effective but also necessary in ensuring that we rightly penetrate our target market.
Therefore form the result of the analysis; we are in business to offer our services to the following customers; New Start-ups in the service based industry Growing service based businesses in need of an accelerator Other business incubators Our Competitive Advantage Bulb Business Incubator Inc is being established to help our clients achieve their corporate goals of breaking into the market, securing investment or getting acquired.
With this, we have come up competitive strategies that will allow us compete favorably as well as have an edge over our competitors. First off, our virtual as well as physical location is opening us up to having more customers than we would have if we were strictly serving customers based on physical locations.
Another edge we have is in the offering of standard services regulated by international best practices. Our clients also get a dedicated and competent staff that helps them reach their intended goals.
We have also hired competent and professional employees who now and understand the market well to help us achieve our corporate goals. Our employees have the necessary expertise that will inspire our clients and an excellent customer service that will ensure that we get referrals from our successful clients.
We not only intend for our clients to work in a conducive and creative stimulating environment, but we are also paying them well better than most similar start-ups in the same industry here in the United States of America. This is aimed at motivating them to put in their best in ensuring that the business grows to the required standard.
We intend to offer our clients various services that are intended to bringing in more revenue that will ensure the sustainability and growth of our business.About Small Business Development Centers. The Illinois Small Business Development Center at the Chicagoland Chamber is funded through a partnership with the U.S.
Small Business Administration and the Illinois Department of Commerce and Economic Opportunity. Daniel Kehrer — founder of BizBest®, Main™ and ContentClout™ — is a nationally-known, award-winning expert on digital media, content marketing, social media, small business and startups.
He is a senior-level executive as well as a passionate entrepreneur, syndicated columnist, blogger, thought leader and author of seven business books who holds an MBA from UCLA's Anderson School of.
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Write a Business Plan The Business Plan is an essential step for the potential entrepreneur to help turn an idea for a product or service into a profitable business venture.
Whether you are starting a business or wish to expand your present business, an effective business plan will be your “road map” to success. A business plan is all conceptual until you start filling in the numbers and terms. The sections about your marketing plan and strategy are interesting to read, but they don't mean a thing if you.
BUSINESS PLAN FOR A TECHNOLOGY INCUBATOR Lane County, Oregon Submitted to the: University of Oregon Business incubators accelerate the successful development of entrepreneurial companies The Small Business Administration of the U.S.
Department of Commerce reports that.