Dollar Store Business Plan, Start a Dollar Store

Every prospective entrepreneur going into business has more than likely heard about the need for a business plan. If you are about to start a dollar store it is likely the experts have told you the same thing. They will tell you to create a dollar store business plan and to make use of the plan once it is completed. After all it does take time and effort to research and then write down everything that’s required of this important effort. After all, the business plan you create charts the path you will follow with your retail business. It is an extremely important and powerful means of setting the course you will take. It includes many of the most important planned details about the journey your business will take into the future.

First and foremost your dollar store business plan is a roadmap for your own use. When you start a dollar store it is much easier to achieve success when you have invested the time to develop a clear plan for achieving that success. There are so many things required to achieve true success. This is one place where you can document all of those components and how you intend to use them.

Your business plan will include a marketing plan for your business. Your marketing plan is one of the most important elements of your business plan. This will be the action plan for steps you will take to continually grow your store sales. It should include specific actions that stand in support of your projected sales goals.

You also define who’s who in the organization. Not only that, but you also document the credentials of each key player and plans for leveraging those strengths and competencies for the betterment of the business. You will also be able to acknowledge deficiencies in skills within the organization. Again it is important to not only acknowledge them, but to also outline the planned actions to cover for them.

When you start a dollar store one of the big questions is associated with the business financials. You will develop a full set of proforma financials as a part of your business. Be sure to invest the time and effort to thoroughly investigate projected sales and expenses and start-up costs. A well-thought out and written set of financials can save you much pain and difficulty later.

Sure your dollar store business plan has many other uses as well. Some major creditors may wish to examine your plan as a part of their decision making process. For example, your banker may use your business plan as the basis for initial discussions about financing. Your landlord may ask for a copy to gain a better understand of your business and your plans for achieving success.

To your success when you start a dollar store!

How to Choose the Right Business For You

So you want to start a business? Well…

Which one is right for you? First of all — think about what WANT out of business:

* Would you like to have a ‘proper’ business – with employees, an office, perhaps a store front… something tangible?

* Or would you prefer a business you can run from home, perhaps using freelancers for much of the heavy lifting?

* Or how about a business which doesn’t really need you at all to keep on running?…

It’s very important to keep in mind what’s important to you in life, and build your business around that. Because a business can be incredibly demanding on your time and energy, and if you choose the wrong kind of business for you, it’s possible you’ll end up hating going to work, even resenting your business!

You NEED to have the kind of business that feels right for you, since there will inevitably be business set backs, and your motivation and enjoyment of what you’re doing is what will get you over those set backs.

Now, a lot of people do like the idea of a business that can be run from home, and that is quite hands off — either to create part time income, or even build a full time income…

One very popular small business in this vein right now is internet affiliate marketing. The start-up costs are incredibly low and the profits can be high – IF – you know what you’re doing.

Okay, let’s back up a little — in case you don’t know what affiliate marketing is, here are the basics:

In conventional businesses, there’s sales people of course – to sell the product or service! They’re often paid with a low ‘base salary’ and then on top of that a commission, depending upon how much they sell.

Affiliate marketing is like commission-only sales, except that you don’t actually work for the retailer…

You have your own websites that may be geared towards any purpose that you like. If you love hiking, you could have a hiking website, for example. And you would do a little searching for some relevant affiliate programs related to hiking (in this example). You could sign up as an affiliate for Amazon.com as they sell hiking books, maps and other items.

Visitors to your website would (hopefully) click on a link that takes them to the Amazon website and if they buy something, you would earn money. Amazon don’t pay a huge amount on sales – maybe 5%. So if a visitor you refer to Amazon spends $100, you make $5. Not exactly mega bucks!

However, there are hundreds of thousands, if not millions of affiliate programs online — most you can join for free, and some pay commissions as high as 75%!

Like all small business ideas, success with affiliate marketing depends on many variables and skill sets. First of course, you have to know how to build a website (or pay someone else to do it). Then, you have to learn how to attract visitors to your site *affordably*. And next, you have to learn how to *convert* those visitors into sales with enticing copy.

As I write this, affiliate marketing is an incredibly hot topic, and to many, many people sounds like the perfect business. However, like all businesses it can take significant dedication – those who give up before reaching their business goals – NEVER – reach their business goals. If you give up on something, you immediately take yourself out of the running…

Quick examples and points to keep in mind:

* One online marketer I know invested $20,000 into his new business and lost it all (because he didn’t know what he was doing when he started). BUT – he learnt from his many mistakes and just three short years later, his business pulls in over seven figures a year.

* MOST businesses fail, because of lack of know how, lack of skills, not enough dedication… the beauty of having an online business is that start up costs can be amazingly low. Especially compared to a ‘regular’ offline business.

* Running an online business, you CAN do everything yourself. This is what I did for many years, running my business very cheaply, learning as I went. The more I learnt about business, the more I made, and at a certain point, I started re-investing money I’d made into ‘outsourcing’ certain tasks, and that’s when my business REALLY started growing…

The more you learn about business, the more you get EXPERIENCE (theory itself will never make you a dime), and the more you get good at running a business, the more your business will naturally start to grow.

So think carefully about what’s important to you in life, and how that will influence what kind of business you create. Or if you’re not sure — if nothing else, just start a part time internet business — it might cost you a whopping $100 or $200 a month! (Where else can you have a business for $200 a month?!)

Do that seriously, two or three hours every day, and before you know it you’ll start becoming an experienced business person, who can then use that skill and knowledge to build a hugely profitable full time business.

But if you do start part time, it’s vital you work on it every single day. Treat it as a hobby, and that’s all it will be. Treat it as a business, and you’ll be amazed at what happens…

Get Rich Quick by Putting Your Business on the Internet

There are plenty of ways that you can get rich quick in this country. You can get a higher educational degree, get another job, be promoted at your current job, invest in high-yield investments or just work harder trying to receive more exposure. The easiest way to get rich quick is selling products or advertisements on a website or webpage. There are many reasons why using the internet to get rich quick will yield the fastest results as well as the most effective. You can also use the internet as a way to sell the products that you would usually sell at a brick and mortar establishment, but much more effectively.

One of the biggest reasons that putting your business online can help you get rich quick is because of the increased exposure. If you have a brick and mortar store or office, you are limited to the people who see your establishment and decide to walk in. Any other business you receive comes from referrals and paid advertising. With referrals, if you don’t already have customers buying your product or service, then you can’t get referrals, because who would be referring them?

With paid advertising, when you stop paying for the ads you suddenly stop receiving new business other than with passerby. You have to advertise in postcards, newspaper ads, T.V., billboards, signs or even more costly, an advertising company. These are all effective ways of helping you get rich quick by getting you more business to your business and helping you to gain more referrals in the process. It will cut into your profit margin though, as investing in these forms of effective advertisements are very expensive and with a couple of bad months, can drain your company bank account faster than you would ever think. Even if you decide to use these methods, it will only allow you to gain exposure to a limited amount of people, for example maybe 3,000 or 4,000 people at a time. That is not enough exposure to help you get rich quick as easily as you may want.

So what is the best form of advertisements that you can make that are free and will gain to exposure to millions upon millions of people from day one? That would be internet advertising and specifically search engine keyword traffic. By targeting keywords and using those keywords to make your site more relevant to the search engines organic search, you can take your brick and mortar business and use it to provide products and an office to sell online via mail order.

How does that work? A visitor to your website finds your website through a search engine search. They then select what product they want on your website, use a payment processor to put in their credit card information, you collect the money, send out the product to that individual using a national or international package courier and a sale has just been made!

By using this form of advertising, you will see your business triple, if not quadruple in a very short time. Using these method of advertisement that is mentioned in this article, you can successfully help yourself get rich quick by promoting your products or services on a medium that uses no or low cost advertising in order to reach a wide audience. If you can get on the first page of some of the most competitive search engine search terms, you can have a million or more people visiting your site and using your product of service. You are the only one who can make a difference in your own life and I challenge you to make that change!