Put your idea on the paper
To get a good idea what and how you want to achieve success in your venture, put it down on paper. It will give you good picture if your business has a chance to survive, be profitable, or needs re-thinking of how it will operate.
There are 9 sections:
- Partners – description of partners that you will cooperate with (e.g. suppliers)
- Business activities – most important products and services your business will provide
- What you need to start and operate – assets, supplies, tools etc. your business needs to operate
- What will bring customers in – what is the value of your products and services to your customers that they will buy it. What differentiate you from the competition, why customers buy what your sell, what is your market niche. How you create value for the customer
- Interaction with customers – how will you bring customers in, get them to buy from you, and develop customer loyalty
- How to bring customers in – the way you will advertise your business to bring customers in
- Who is your market, what demographics, location, interests?
- What financial resources are required to start and continue?
- How will you make money, how will you price your products and services?
Spent time on it and be thorough. In the future, if you need full business plan, you already have major part done.