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Forum nameBiz Ideas
Topic subjectRE: Input Needed and Appreciated
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=4038&mesg_id=4048
4048, RE: Input Needed and Appreciated
Posted by hostingdiva, Thu Nov-05-09 06:37 AM
Hi Matthew:

Well... 90% of all new businesses fail. So, there's a good chance that you probably will not succeed. If this is terrifying to you, then you should get out now. On the other hand, you could be that other 10% :)

In terms of what you're doing - you MUST have a plan. You NEED to figure out how you're going to be better than your competition. Competing on price is probably not going to be enough - it may, but, it's probably likely that the bigger companies could undercut you without too much trouble. So you really need to examine the market and figure out what's going to make you different. Is it the personal touch? It is customization? Is it because your swingarm is unique? I don't know anything abou tthe motorcycle industry so I can't help you out here. But, I can tell you that most businesses fail because the owners don't have a plan and didn't really examine the market before jumping into the water.

Also, how are you going to be promoting your product? Are you going to go to motorcycle shops? Set up booths at shows/races? Have a website where people can buy? How are you getting to your target market?

Just some food for though :)

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