Entrepreneurial Checklist For Success

There are several frameworks you can use to assess and develop your business strategy. The process of developing the right strategy involves asking the right questions and coming up with honest, complete and effective answers.
The core framework we use at EDC is The Recipe for Business Success®. There are five essential ingredients in the recipe: Strategic Fit, Business Plan, Leadership, Team and Resources. The checklist for success is great way to get started in thinking about how your business measures up. You can use the checklist whether you at the concept stage, you have made your first sales or even if you are part of a mature industry.

Here is the checklist – you can also download a copy from the Resources section of the website or you can pick up a printed copy from EDC’s offices. Comment below and/or contact us with additional questions or ideas.

ENTREPRENEURIAL CHECKLIST FOR SUCCESS

  • Do you have a viable product with a clear strategic fit in the market?
  • Is there a definable target client?
  • Is there a clear definable need? Is it big enough?
  • Can you profitably deliver the product at a competitive price?
  • Do you have a clear win that can differentiate you from competition
  • Can you defend your position over time?

 

  • Do you have a complete business / strategic plan?
    Strategic fit (above)
    Goals & objectives
    Strategies and tactics:
    Product
    Pricing
    Advertising
    Promotion
    Distribution
    Service / support
    Resources / financial requirements:
    Expenses
    Capital
    Projected financials
    Action plans – who does what when
    Contingency plans

 

  • Do you have the proper leadership?
    Proven experience

 

  • Do you have the proper talent on your team? (discipline, capability, and balance)
    Marketing
    Development
    Sales
    Operations
    Finance

 

  • Do you have proper funding and financial relationships?
    Equity
    Debt / banking
    Grants, other

Testimonial

The counseling and support we received from the EDC team during our start-up years had a huge impact on our success. And now, we continue to benefit from our EDC relationship with ongoing business and sales coaching and the connections that are helping us grow much faster than the rest of our industry. The Creative Corridor is blessed to have such a strong force for spawning new business.

Jeff Quint, Cedar Ridge Vineyards, Winery & Distillery

Connect with EDC

  • Stay in touch

    Contact us

    Entrepreneurial Development Center
    230 2nd St. SE, Suite 212
    Cedar Rapids, IA 52401
    Phone: (319) 369-4955
    Fax: (319) 832-1481

    Events

  • 2017 Tax Reform Legislation for Global Businesses
  • Hills Bank Presents: Financial Management for the Closely Held Business
  • Blog Archive

  • Ten Things to Consider Before Signing Up to Exhibit at a Trade Show
  • Meet Me at the EXPO: Emily Carlson, WRITTEN Apparel
  • 2017 EXPO Exhibitor List Unveiled
  • Meet Us at the EXPO: Tiny But Mighty Popcorn
  • List of 2017 EXPO Presenters Announced
  • Meet Us at the EXPO: Belinda and Rick O’Brien, O’Brien’s Own Granola
  • Meet Me at the EXPO: Tom Lutz, Repour
  • Meet Me at the EXPO: Greg Edwards, WatchPoint Data
  • Top 10 Reasons to Attend EDC’s Annual Meeting April 13th
  • Budgeting for Success
  •