The Fat Woolly Fish 1 Page Business Plan
Overview
The Fat Woolly Fish has a clear business objective to develop, produce, promote and distribute Knitting Yarn products. These products have been developed over New start up 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
The Fat Woolly Fish 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 Good quality knitting yarn at a competitive price.. This is a critical issue for our selected target market of Hobby crafters.
The Value Proposition
The Fat Woolly Fish is uniquely positioned to deliver value to Hobby crafters. "The Fat Woolly Fish will We provide good quality interesting yarn at competitive prices.." In order to be deliver on this value proposition, we We will also give our customers good advice and creative ideas.. 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 Knitting Yarn market. We consider our key competitors to be: Hobbycraft, other online businesses. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Hobbycraft, other online businesses by We concentrate on a single area of the craft market rather than on a whole range of crafts. Our selection will also be more interesting and offer better value for money, coupled with good advice and creative ideas..
Key Strategies
Over the next 6 months our focus will be to Launch a website and utilise social media to reach new customers.. This task will be undertaken in the context of our broader strategy to Start up classes to add a new revenue stream and to help sell more products.. 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: Open new shop Develop and open an online store Develop a series of workshops
About this document
Knitting Yarn Business Plan
This document was created by Gill of The Fat Woolly Fish using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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