There is industry research available that you can uncover for free.

'Everyone in America will want my product.' Trust me - they won't.) What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it? In other words, who, exactly, will buy your products or services other than your family or friends? (And don't say. You can do this by validating your market. This may be the most important thing you do.

Know your target audience before you spend a penny.īefore you spend money, find out if people will actually buy your products or services.

What are my objectives, strategies and action plans (steps) to achieve my goals?Ĥ.

What is the promise I am making to my customers/clients and to myself?.

As you write down your goals, strategies, and action steps, your business model becomes real. A plan does not need to be more than one page. A business plan will help you gain clarity, focus, and confidence. Most people don't plan, but it will help you get to market faster. Business planning improves your chances for success. There are plenty of entrepreneurship courses you can seek out, or you can go all out and attend a business school with an MBA program. Solve a common problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest risk of the three approaches.) Start with some market research, and if you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.

One thing i don t know why