Friday, November 13, 2009

10 Questions Your Business Plan Must Answer

This week an entrepreneur called me to see if I could help her develop a business plan. She found me on the Internet and had been intrigued by my Web site, particularly my list of 10 questions a business plan must answer. http://www.upstartbusinessplanning.com/15601.html

I told her that I had developed the questions based upon my 10 years of experience in writing business plans and my 15 years of mentoring and teaching entrepreneurs. Since I've been trying to include useful tips in some of my posts, I thought I'd put down my list of 10 Questions. These are the sorts of questions you need to answer to develop a successful business and to be able to interest investors or lenders. There are a lot of ways to express the essentials that are covered by my questions. I'm using language with the least amount of jargon.

If you want to learn the venture capitalist jargon, know more about business planning or speak to me about answering the questions for your business, email me at: upstartwyn@gmail.com.

Ten Questions Your Business Plan Must Answer
1. What is your big idea?
2. What are you selling?
3. Who will buy it?
4. Why will they buy it?
5. How large is the market of potential buyers and is it growing?
6. Who is your competition and how is you business different from theirs?
7. What will it take to make and sell your product or service?
8. How will you get the news out to potential buyers?
9. Who makes up your management team?
10. How and when will you make a profit?
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