Objectives and Strategy
From Entrepedia: The Entrepreneurship Wiki
When setting up a business is it crucial to have both a strong understanding of your objectives — what do you want to achieve? — and a solid strategy, both for the launch and initial growth of the business and for continued business development after that first stage.
Throughout the lifespan of your business, beginning with its conception, you will need to focus on the following:
Vision
The vision statement pretty much speaks for itself - it is the future for your business as you see it: what it will achieve, how it will feel to work there, what its values will be.
Mission
A mission statement needs to be a very concise summary of a business's purpose: what needs the business addresses, how it does so, and the beliefs that guide this process.
Branding
Branding is a marketing process that offers a way of providing your business with recognition, and of making your product or service stand out from your competitors, especially when you need it most.
Public Relations
PR is of course the best way to spread the word about your venture. Whether you go it alone or turn to a PR Agent, you will need to send out press releases, follow them up personally, and keep on it until your name starts to stick in potential customers' minds.
Exit Strategy
You will need to be able to provide venture capitalists with a plan for getting their money back (ideally with a sizeable return) should they decide to invest in your business. There are several different exit strategy options available to you, so you should research which is the best for your venture.
