A new business will be opening its doors on June 24, 2011, in Bluffton, Ohio.
And, earlier this spring I had the opportunity to facilitate a strategic planning session for this aspiring business. The company has about 40 employees that are full of energy, passion and enthusiasm. They come from different backgrounds but they all have bright minds and you can see the potential when they start moving in the same direction towards a common goal.
I facilitated the strategic planning session to help them think through their idea and formalize a business model. Their product isn’t necessarily anything special, but their presentation and delivery is where they have a competitive advantage. The ideas flew fast and furious. I had trouble keeping up, but here are a few notes we took at the planning session:
Proposed Business Location: Downtown Bluffton (Main St and Cherry)
Direct Competition: There will be plenty of it; will be tough to compete long-term; especially Common Grounds, Community Markets, The Food Store, etc.
Target Market: Any human, all ages; must be thirsty
Product Pricing: $0.50/item; try to encourage repeat business and BIG tips
Competitive Advantage: Young, enthusiastic, persuasive, cute
Marketing: Social media and local media(I offered to help with this one), door-to-door selling (see note above on being persuasive and cute), pass out coupons on Main Street, make lots of noise at the business location, have customers wear stickers publicizing that they participated.
Hours of Operation: Friday, June 24, 2011, 1-5pm; see how it goes and play it by ear to determine if we reopen after Friday.
Goal: Earn, Save, and Spend wisely; Develop the entrepreneurial spirit; plant the seed early to encourage financial responsibility; Build Community Greatness
Business Name: Young Entrepreneurs
Product: Best lemonade this side of Main Street
What to Watch For: Very persistent Young Entrepreneurs in royal Blue T-Shirts coming after you with a glass of lemonade and a sticker
What the Young Entrepreneuers will do with their earnings: Deposit in their savings accounts
How You (the reader) can Help: Visit the “Big Lemonade Stand” on June 24 in Bluffton and show your support for these Young Entrepreneurs who are learning first-hand about responsibility, earning money, creativity, and teamwork
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