Business planning - helpful questions (I)
We come back with more supportive questions for important chapters you should touch while elaborating your business plan. Here we go:
Motivation to start it
Why do you want to start it?
What difference can you offer to the already existing market?
Why people before couldn't you do it?
Why are you doing this business and not something else?
What are you doing this business and not someone else?
What makes you competitive about it?
Did you do your S.W.O.T, Porter's 5 forces, P.E.S.T.E.L. analysis or any other similar?
Presentation of the idea
What's your plan?
What is that you have to offer? What will be your business about?
Could you objectify and concretize your idea?
What is the end goal to be achieved?
Do you have general and specific SMART objectives?
Do you have a vision on a long-term? What would you like to achieve in 5 years? Where would your business be?
What's your business situation now and how will it be in 5 years (predictions based on the evolution tendencies)?
The product or service
What makes your product/service different from already existing ones?
How economical is your product/service?
How do we know that our product/service will be bought by the clients?
Why should the clients start using your product/service?
How would you describe in details what you offer?
What are other benefits there could be obtained with the product/service?
What are your advantages compared to the competition (product/service related)?
What are your disadvantages compared to the competition (product/service related)?