It's Party Time 1 Page Business Plan
Overview
It's Party Time has a clear business objective to develop, produce, promote and distribute Party Planning services. These services have been in the development with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
It's Party Time has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as the need to have a one stop shop for party planning. This is a critical issue for our selected target market of party hosts.
The Value Proposition
It's Party Time is uniquely positioned to deliver value to party hosts. "It's Party Time will provide a service that offers all aspects to planning a party from the beginning to the very end." In order to be deliver on this value proposition, we will showcase a variation ideas for themes, invitations, decorations and so much more as well as a lists of local venues and vendors. It's Party Time will also provide a personalized to-do list to each subscriber. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Party Planning market. We consider our key competitors to be: The Knot. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with The Knot by generalizing our planning services for all types of events versus wedding specific.
Key Strategies
Over the next 6 months our focus will be to business development. This task will be undertaken in the context of our broader strategy to launch locally first. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Obtain 100 vendors and venues Obtain 100 subscribers Launch a DIY section
About this document
Party Planning Business Plan
This document was created by Becky of It's Party Time using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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