Strategy and Implementation Summary
The key to my strategy is maintaining a clear hold on underlying objectives. I want this business to be a part-time business to provide pocket money and confidence that other kids in high school get by doing less interesting part-time jobs. I want the satisfaction of earning my own money, but like the aquarium business and want to focus it on what I like.
Therefore I have limited capacity and will build slowly and carefully, with one friends-and-family client to begin with, moving very careful to three clients only later when I have driving privileges.
4.1 Competitive Edge
- In this business, being young, and a good student, is a competitive edge. When I need to generate new clients, people will relate positively to a young person working her own business.
- Knowledge is very important. I take the time to know what I’m talking about, particularly regarding the environmental-impact of the aquarium hobby.
- The environmental emphasis is unusual, and is also a competitive advantage. Many people will prefer to work with an environmentally sensitive aquarium vendor.
4.2 Marketing Strategy
- Start first with friends and family companies where I can establish a track record and reference site.
- Move slowly, through word of mouth, into a carefully selected few additional sites that I can serve at a very high quality level.
- Lever on the Chamber of Commerce, and my competitive edge, to market through personal talks and Chamber events.
4.3 Sales Strategy
Our selling will be entirely based on word of mouth. We will build the website for the future. Later on, as soon as we feel confident to turn on more business, joining the Chamber of Commerce would be sufficient. We could attend some of their gatherings, get an occasional forum, and build more business that way.
4.3.1 Sales Forecast
We will remain with a single client throughout this first year before expanding in the future. We need to establish history with one client, and we also need to maintain the constraints on this business as a single hobbyist business.
During the following year, when we have a drivers license, we can expand to three clients.
|Year 1||Year 2||Year 3|
|Direct Cost of Sales||Year 1||Year 2||Year 3|
|Unbilled minor accessories, testing supplies, etc.||$48||$144||$180|
|Subtotal Direct Cost of Sales||$48||$144||$180|
The plan involves two additional clients for the summer of 2003, and then a transition during late 2004 in preparation for me to be able to leave clients to attend college.
|Milestone||Start Date||End Date||Budget||Manager||Department|
|Client 1 tank established||6/15/2002||6/30/2002||$0||Megan||Overall|
|Client 1 maintenance||6/1/2002||5/31/2004||$0||Megan||Overall|
|Marketing additional clients||5/1/2003||6/30/2003||$0||Megan||Overall|
|Client 2 and 3 installation||7/1/2003||8/31/2003||$0||Megan||Overall|
|Client 2 and 3 maintenance||9/1/2003||1/15/2003||$0||Megan||Overall|