I love watching the Food Network. Of all the shows offered, I am absolutely obessesed with the Impossible© series. Dinner Impossible© and Restaurant Impossible© give me a perspective of the restaurant business, and on business in general. I wonder what would happened if I gave a business a overall face lift and new ideas….?
In July 2012, I selected a small business to receive a “business makeover”. One of my best friends has a novelty side business that she would like to grow into a full-time endeavor for herself. The business id called Creations by Capri and my friend Cassandra makes (what I like to call) candy sculptures. See what I mean here. She currently works full-time at a paint distributor and has no formal business experience. My basic goal is her is to give her the tools necessary to take her business venture to the next level. Just like Chef Irvine, except without all the yelling. After all, I have invested a lot of time, and money, in my education, and have some decent experience. Why not help one of my closest friends propel a dream? Then I can brag about how much my expertise helped her! It’s a win-win!!!
In our first meeting, I sat down with her and created a plan. This plan was designed to be aggressive, in an effort to provide a push in the right direction. It was also designed to get her prepared for the upcoming holiday season. The plan is straight forward so there would be no confusion:
1). Get registered and be official!
-File EIN with IRS and LLC status. Get tax IDs for sales and use tax
2). Design a Logo and update website-STAT!
-Create logo and print new promo material
-Create a SEO (search engine optimization) plan- let’s get found on Google.
3). Officially open a business checking account.
4). Establish relationships with suppliers.
5). Create an operational marketing plan.
-Determine profit margin and cost of sales
-Is this a partnership?- I knew someone else was involved
6). Goals: Short-term-Increase online sales & brand awareness
Long-term-Creations by Capri should be a primary source of income.
I will be providing progress of this business as well as changes throughout the process on my blog.
*The title of my blog post is not affiliated with Food Network or any of the Impossible© series. It is merely a figment of my nerdy imagination. Please don’t sue me!
"Putting My Money Where My Mouth Is" is a journal about real life experiences and answers to tough tax questions posed to Jéneen R. Perkins, Owner of Eclat Enterprises, LLC