Well, Slasher, this is like asking what comes first, the chicken or the egg? In actuality, you have to do it ALL at the same time, it's called starting up the "operations". It's just that when starting out the "operations" it will be small, but it grows over time.
For example, let's say, you are starting up an Independent Insurance Agent Office/Business. You have to do the following list of things at the same time in relation to the start-up of the operation:
- Get licensed
- Do market research and segmentation studies
- Develop your unique value proposition (UVP)
- Develop your marketing plan, strategy and cost
- Develop how you will finance the business now at startup, and later as it grows
- Determine what legal resources you need now at startup, and later as it grows
- Determine what accounting resources you need now at startup, and later as it grows
- Determine if you will be solo or have employees
- If you will have employees, will they be direct hire or contracted virtual assistants?
- Where would the operations be? At home, at a leased office, at a shared office?
- Will the contact with clients be by phone, face-to-face, both, etc.?
- If it will be face-to-face, what's the limits on the market in terms of how far you are willing to physically travel?
This is called the "operations" of your Insurance Agent Office. All of these things work together for an efficient office. You can't just focus on "marketing" without focusing also on "financing" the business, because how do you pay for marketing without capital? You can't just focus on getting licensed without having already done SOME form of market research and segmentation studies as well as developing a UVP, as otherwise, how do you know after you get licensed if there's even a market opportunity out there for you to capitalize on?
Most start-ups fail due to inefficient management of the operations.
