OddWatch Research: SMART Analysis

SMART

My SMART Analysis has been incredibly useful in setting myself up a plan and the expectations that I have for OddWatch. Arguably my most useful. The idea from my SMART Analysis came from an Instagram reel which if I can find, I’ll link down below.

Edit: I couldn’t find the link so I’ve added my notes on the clip.

At the present time, I have formed three SMART strategies for the business. [1] Short Term Strategy, [2] Mid-Term Strategy, [3] Long Term Strategy.

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How to start a business with very little money

1. License and Insurance - Go to your local council / online. Get a business license through those means. It’s also a good idea to get an insurance quote.

2. Equipment - Use what you have and what is available to you.

3. Practice - Test the business function on family and friends FIRST. Test equipment, test software, get a good workflow before ever getting your first client. If I make a mistake, these people will be much more forgiving than strangers.

4. Boots on the Ground Marketing - Start making flyers, business cards, etc. Do door-to-door marketing. Begin to get those initial customers or at least begin to become known. If the business lacks monetary value, you need to be putting in sweat equity.

5. Portfolio - Keep working with clients. Get testimonials and build a portfolio. Raise your prices as you start to increase your lead flow. This will help maximize your profitability. Start leveraging one job into multiple and begin online marketing (Facebook, Google, etc.)

6. Ask Questions - Ask people questions. It’s a great way to improve and mitigate the mistakes you make.

I’ve used this reel as a guide to help on getting started with OddWatch.

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What I've been listening to: