When starting a business, you need to have a plan of attack. You need to figure out if there truly is a market for your product/service, how you are going to reach your target audience, how much money you need to execute, and much more. By fleshing out a business plan, you will know how viable success is and what changes need/can be made if it isn’t yet. Answer the following questions and cover all these points for a simple and thorough business plan.
• Who’s the right customer?
Answer this question in as much detail as you can. You may want to read this article for some pointers first.
• How will these customers find us?
Customer will find us by _______ and _______. Alternately, I will go find them by _______.
• What will the project look like when it’s done?
By “project,” I mean the service, the membership site, the consulting package, the ebook. What form does the thing take that you give your customer?
• What problem does this product/project solve for the customer? Is it a real problem? Does anyone care about getting this problem solved?
• What tools or materials we will need to get this built?
Will you use blog software? An awesome WordPress theme? Other technology tools? Do you need a copywriter, graphic designer, wordpress developer?
If it’s an information product, do you need to do additional research on the topic? Could you interview some experts for additional material?
• Is there any way to create a really fast prototype?
How could you do a “good enough” beta version to test that this is actually a marketable concept?
• What partners will we involve in this project? Why?
Marketing partners? Content creation partners? Business partners?
• How will we share revenue between partners
This can be different for different monetization items. Advertising could be split differently than fees for services, for example.
• How can I get moral support outside of the partnership?
Starting a business is hard. It’s easy to give up. Can you join a really great entrepreneur’s group? Work with a coach? Put together a small mastermind or accountability group?
• Some things this product will need to do
• How we make money
• What other stuff could we sell these customers later?
If there are partners, who pays these expenses in the launch process before we have revenue coming in? Are these one-time or recurring?
Who will do the work? Who’s going to manage the project and make sure the tasks get done? How long will it take?
• How will we know it’s working?
If the project is a magnificent success, what will that look like? (Answer this one in as much detail as you can.)
• What do we need to worry about? What’s going to bite us in the ass if we don’t address it now? What do we need to worry about down the line?
• Next actions
What do you need to do next to get yourself moving forward?