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800-348-5194 (Toll Free in WY)
email:WSBDC@uwyo.edu

Business Success Cycle 


The LAUNCH stage


Opening your businessBusiness Success Cycle 2 LAUNCH.png

 

Now that you have a more solid business concept, it’s time to launch your business.  The Wyoming SBDC has put together resources to help you take your business from concept to launch.  At any time during your journey, contact us for assistance!

 

Summary


The following outlines areas of your business idea that should be considered before you open for business.


1. Getting the Customer

  • How will you market, advertise, and promote your business?

  • How will you attract your target customers and promote your business?

  • How will you determine your marketing budget?

  • Do you have a marketing plan?

  • What is your price, quality and customer service strategy?

2. Managing Your Business

  • How will you manage the day to day details of operating the business?

  • Do you need to hire employees?  If so, when and how will you build your team?

  • What bookkeeping system will you use?

  • What are the financial needs for your startup?

  • Are their regulations or compliance issues you need to consider?

3. Operations

  • How will you deliver your product and/or service to your customers?

  • What are your facility, equipment and furniture needs?

4. Funding it all

  • How much money will you need to support yourself and the business needs?

  • Where will you get the money?

  • Have you identified your profit margin?

  • Have you reviewed a financial breakeven analysis with anyone?

5. Do you have a plan?

  • Do you need your business plan to be considered by investors?

  • Have you considered writing a business plan for your own use?
     

Tools for the LAUNCH stage

 Opening your business

 

Business plan development – What you need to know before you start writing a business plan

Getting a loan – Learn how to make your case to a lender and get financing for your business idea

Sell your product online – Learn how eCommerce and online marketing can help your business

Business Taxes – Learn about various taxes and how they impact your business

Quickbooks – Work with our Certified QuickBooks Pro Advisor to learn about this popular accounting system

Payroll - Learn about how to make your payroll function smoothly

Pitching to investors – Access online presentation templates

Create a marketing plan – Resources to help you create a marketing plan

Emergency Business plan – Download our resources to help your business survive a disaster

Trainings, events, webinars – Access to our library of education resources for entrepreneurs

Online marketing – From eCommerce to social media, our advisors share their tips to help boost your online visibility