Step 26: Implementing Your Plan
The Concept:
A few final steps remain before you are ready to open your business.
What you need to know:
Set Opening Date:
An opening date is a carefully chosen hard target that builds anticipation among your employees and your future customers. You should be realistic in selecting the first day that your business is open. All operations systems need to be in place. A “soft” opening is suggested for retail-specific operations. Be certain that employees are familiar with the operation of cash registers, credit card transactions, phone lines and computer software as well as the layout of the retail space and storage.
Begin Marketing Efforts:
Implement components of your strategic marketing plan in advance of the opening date so that customers are informed about your business. Early on, it might be most cost effective to have your sales force do some of your marketing.
Place Inventory Orders:
You previously have determined your inventory needs. Now is the time to stock up so you have something to sell. Order your base and seasonal inventory. Finalize the payment terms and agreement. Implement your chosen inventory management system before the goods arrive.
Set Management System:
Start your accounting, payroll and quality control systems in advance of the opening to work out any bugs. An outside payroll service provider can help your payroll system run more smoothly and ensure compliance with all federal and state tax filings and withholdings. This additional cost can be weighed against the benefits of having the provider represent your business and being financially liable for errors with deposits or government reporting.
Points to consider:
When will renovation of the business site be finished?
What is the official occupancy date?
Would the business benefit from a "soft" opening one or two weeks before the grand opening so that any operational bugs can be worked out?
Is the strategic marketing plan ready for roll out?
When will needed inventory and equipment arrive, and how long will it take to put these in place? When will products be ready to sell?
Have employees been trained on how to respond to customers?
Have employees been trained on how to respond in an emergency situation?
Have I chosen an opening date with enough breathing room to accommodate all of the above?
Do initial marketing efforts seem to be working? Have I generated interest from passersby, the press or potential customers in advance of the opening? |
