My name is Millie Travers and I am 24 years of age. I have a twin brother called Matthew and we were both made redundant from the Cheese Factory in Mouseville. I worked as a Customer Service Account Manager while Matthew worked in their IT Department. I graduated from UCM (University College Mouseville) in 2010 with an Honours Degree in Psychology. The job at the Cheese Factory was a stop-gap because there were very few jobs in Mouseville looking for a graduate in psychology. There were no real opportunities for me so I had made my mind up to save my money and emigrate in two years.
When Matthew and I were made redundant, we were determined to start our own business. In order to get funding for our business, we can to compile a business plan and by doing so, we learnt a lot about ourselves, our customers and about how to plan for a successful business.
We discovered we needed to draw up a Market Research Plan, a Marketing Strategy, Strategic Developments, Financial Statements and a Project Outline amongst others. Those big words made us nervous but once we analysed exactly what we needed to find out and we shared the workload, it became much less daunting.
What is Market Segmentation?
The most enjoyable part of the business planning for me was tackling the Market Segmentation part, I enjoyed working out how the Cheese Mall would fulfil the needs of the various segments within our customers such as the elderly mice wanting friendly staff to chat to, ‘fast’ shoppers would want express cash points, ‘time poor’ shoppers would want everything under the same roof, parents would like value for money and their children entertained while teenagers would like a place to hang out. I really enjoying putting this part of the business plan together and explaining it to Matthew.
Matthew and I are now proud proprietors of The Cheese Mall on Whisker Street. We have listened to our customers in our market research and have given them what they asked. As a business we will always strive for 100% customer satisfaction. All going well we will be launching The Cheese Mall on 1 November 2011. Although we are young with limited business experience, we will learn as we go along by listening to our customers. We have also agreed that we will put them at the centre of every business decision that we make.
If you would like to purchase a copy of our book which outlines how we put our business plan together before securing funding, you can buy The Cheese Mall as a paperback and as an e-book.