By Dan Voetmann
Why does the world need your company?
Who are your competitors?
What advantages do they have over you?
What do you admire about them?
What weaknesses have you identified that you think you can exploit?
3 Legged Stool…
Product/Service…
What is it?
Where will you source it?/How will you train if it’s a service?
What is your key point(s) of differentiation?
Operations…
How will you handle fulfillment? Order/Stock/Deliver product or
Schedule services.
How much money will you need to make?
What margins will you need to retain?
How many customers will you need (at X gross sale and Y net
margin) to generate to make your numbers work? (see marketing)
Will your prospective customers pay the gross price you need?
What do you need for staff?
How will you find and retain staff?
How will you compensate them?
How will you retain enough income to survive then thrive?
Physical location needs?
Marketing…
Who is your target prospect?
What ideas do you have to educate/persuade them?
How will you reach them?
How will you retain them (customer loyalty)?
What will your “close ratio” be…thus driving how many total
prospects you’ll need to “check you out”? Can your marketing (at what
you can afford to spend on it in the launch phase) generate this amount
of prospects?
Money…do you have enough?
What do you know that you don’t know? How will you figure it out?
Why do you think you will be successful with this company?
Mentors?