I
want to open my own teacher’s store, but I have no clue where to start. What
would you suggest?
--Shanique
1st Thing –
Determine your niche
This first thing is really important. You have to know
what you will offer and who you will offer it to. Ask around. What do teachers
need and want to buy? What of those things do you want to sell? Will you be a
general store or specialize? Will you offer services as well as products? Know
every detail of these answers and try to be as specific as possible. Being sure
about this first thing will make your subsequent business decisions much
easier. It will also make creating a mission statement and developing a vision
much easier as well.
2nd Thing – Do
your research and put together a business plan
During this first part of planning your business, you’ll
be doing a lot of research. It may be helpful to keep a binder or multi-subject
notebook with each section dedicated to notes for each part of your business
plan. It will speed things up when you are ready to put your business plan
together.
How will you handle:
- Bookkeeping
- Marketing
- HR (if you will have employees)
- Day-to-day operations
You don’t need to know the specifics of this second thing
just yet because you’re just starting out, but you do need to know that these
are things you will need to build into your business plan. Knowing the parts of
a business plan will help you organize your research and your thoughts. Checkout this article for more on the parts of a business plan.
3rd Thing –
Start looking for suppliers
Suppliers can have an impact on your day-to-day
operations and other aspects of your business depending on their cost and
merchandise availability, so technically it could have fit in with the 2nd
thing (your business plan), but I felt the need to mention it separately. I
wanted to highlight it because you should start thinking about suppliers as
early as possible to ensure you find suppliers that you trust and are happy
with.
Final Suggestion – Surround
yourself with positive, supportive people
Starting a business can be overwhelming, even for people
who have started multiple businesses. Surround yourself with positive people
who support you and your goals. When you get discouraged or lose motivation,
you will want people in your corner that can help get you back in the right
mindset and back on track to reaching your goals.
So as a recap, to get
started with your teacher’s store, I suggest you should:
- Determine your niche
- Do your research and put together a business plan
- Start looking for suppliers
- Surround yourself with positive, supportive people
#ShesaBoss and #theGB blog