Across the country, parents and children are getting ready for back-to-school. Some kids are already in the classroom. My two kids are both in college, but this year I am honored and thrilled to be spending time with some high school students as a volunteer with Junior Achievement. I get to teach them about something I am very passionate about – being an entrepreneur. At Just Between Friends, our consignment events often involve kids helping out. Many of our franchisees involve their kids who are learning invaluable lessons about what it means to own a small business.
In my Entrepreneurship course through Junior Achievement I walked them through the process of starting a business. Here are some of the key steps we discussed that I believe work for any entrepreneur.
- Come up with a product or service that fills a need: Some of the most successful businesses were born from someone who wanted to fulfill a need in their life with a product or service. When I started Just Between Friends, my co-founder and I were setting out to save a little money on our kids’ items. It was a need shared by countless families and our business was born.
- Define Your Competitive Edge: What sets your business apart from your competitors? Get clear on this and make it the core of your marketing plan. Which bring us to #3.
- Develop a marketing plan: How are you going to let your potential customers know who you are and what you offer. Begin by determining who your customers will be and then tailor the plan accordingly.
- Determine your short and long term goals: Set goals that you can measure and write them down. Put them in a place where you see them every day. Evaluate as you go through developing your business and adjust or “course correct” as needed.
I worked with the kids in my class to help them put this on paper. That is something else I am a big believer in – writing it down. That helps you own your goals and make them happen.
If you are an entrepreneurial type looking for the right opportunity, then check out JBF and all we have to offer. Click here to find out more from our franchisees.
I wish everyone a safe and successful school year.
Just Between Friends is actively seeking franchisees throughout the U.S. and Canada. Click here for more information on joining the JBF team.
image © Glenda Powers