1. Who is my target audience and how can I most effectively reach them?
- Your business plan must be doctored to reach this target audience
2. What goals can realistically be reached through this plan?
- Set realistic goals. You are not fooling anyone by underestimating the potential challenges you might face.
3. Who can I ask for help?
- Your personal network of family, friends and colleagues are your best resource. Use them to shape your plan.
4. What do I bring to the table?
- Think about your strengths. Focus on now only how, but also why, you utilize them to accomplish tasks.
5. How much capital is going to be necessary?
- People are sensitive about their money, and rightfully so. Make them feel comfortable by explaining why you need the specific amount, how it will be used, and most importantly, how they will get it back.
6. How can I make my target audience more comfortable?
- Anticipate the questions your audience will ask, and have answers already prepared. This can include anything from why will your product succeed to how much money are you going to make me. Provide estimates of revenues, costs, and any other issues that will calm their angst. But, always keep in mind Question #2, be realistic.
7. How well does my target audience know the industry?
- You may be an expert in the field, but your potential customers may not be. Think about an easy way to communicate the ins and outs of the market. This can be visual aids or even a strong and succinct verbal pitch hitting all the major points.
8. How much competition is out there?
- If you compete in a crowded market, ask yourself what would cause your target audience to sway one way or another. Cost? Availability? Necessity? Figure out what the competition is doing in regard to these factors.
9. Why am I better then the next guy?
- Be able to demonstrate to your target audience that they are making the right choice. You must believe your product is better then the next guys, and have evidence to prove it.
10. What am I going to do to pull this off?
- Not only is this a question that your audience will like to know, but it is one you must figure out to put your plan in motion. Lay out the steps your going to take and follow them!