You are a senior CEO of a successful corporation. One of your old friends is going to set up a new business and wrote to you to ask for experience. Write an email (120-140 words) to give him/her your advice on a start-up business plan. Your email contents should include the following information: Type of business Location Kinds of product/service Target customers Strategies to meet customers’ needs Types of advertising Source of funds

You are a senior CEO of a successful corporation. One of your old friends is going to set up a new business and wrote to you to ask for experience. Write an email (120-140 words) to give him/her your advice on a start-up business plan. Your email contents should include the following information:

Type of business
Location
Kinds of product/service
Target customers
Strategies to meet customers' needs
Types of advertising
Source of funds

Subject: Building a Strong Foundation for Your New Venture

Hi Jenny,

It's great to hear about your new business venture! I'm excited to share some advice on crafting a solid business plan.

First, define your business type and location. Determine whether you'll operate online, brick-and-mortar, or a hybrid model. The location should align with your target market and operational costs.

Next, identify your product or service. Clearly outline what you're offering and its unique selling points.

Pinpoint your target customers. Understand their needs, preferences, and behaviors to tailor your offerings.

Develop effective strategies. This includes providing excellent customer service, offering competitive pricing, and building strong relationships.

Choose the right advertising channels. Utilize a mix of digital marketing (social media, SEO, email) and traditional methods (print, radio, TV) to reach your target audience.

Secure funding. Explore options like personal savings, loans, investors, or crowdfunding.

Remember, a detailed business plan is crucial. It will guide your decisions and attract potential investors. Best of luck!

Best regards,
Thanh
CEO, Yunmake company

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