Posts Tagged ‘new business’
Lot18 is the site that just 6 months was launched with a $ 3 million investment and that in just 6 months and sales have been taking millions of dollars a month.
As reported Business Insider site when he started this business idea was only 6 employees of which two were the founders. He now has 44 employees and 35 more jobs to complete.
Lot18 business has been a success, and involves taking a portion of the business of selling wine in the United States offering special offers on its website so that users can access special offers to buy the wines of your choice.
One of its founders said that the basis of their success has been word of mouth marketing where his first registered users have spread the word to friends and family about the existence of Lot18 and that has enabled today have an average of 1000 new users register each day bearing the date and more than 220 thousand registered users.
A key aspect is that its business is focused on wine sales is already an established market in the United States more than 30 billion dollars in sales, they’re catching your business idea only part of that market.
Lessons are essential when you want to plan a new business idea because as you may have seen, Lot18 did not want to reinvent the wheel to launch their business idea but simply facilitate the process of buying wine in a market already accustomed to buy those products.
Last 30 years, is an important part of the innovation has occurred through a company created specifically to exploit the technology and market opportunities identified by its founding team. This phenomenon has been very important in sectors such as software, telecommunications and the Internet, renewable energy, biotechnology, medical devices and nanotechnology.
By supporting a project, actions and resources required and their likely impact, business plan becomes an indispensable tool to assess their potential.
The purpose of a business plan
the business plan has several goals. Among the most important are:
1) Planning action to seize opportunities and assess their feasibility.
2) Communicating the project to interested persons or organizations that can provide funds or strategic relationship with the project (partners, suppliers, partners, etc.).
3) Set goals and milestones of development.
Develop a business plan is a very valuable work process that allows opportunity for strategic thinking about the project.