Important Questions For Your Business Plan

Every startup company should have a clear plan to see wether the business can succeed or not. Planning is usually we call a business plan.

Business plan has the form of a summary of the company, marketing strategies, financial planning etc. Each strategy and planning should be in accordance with your business model in order to measure the shortcomings on your business.

To create and assess your business plan, you can make a few questions for your business plan. Here are some important questions for your business plan so that you can judge the business you will run by yourself.

What is your business model?

The business model is shape of your business. Shape means how your business adds value to the consumer and environment. Beside it, how’s your business make money. You need to explain it, so that investors believe your business can earn money.

What problems will you settle?

A business established with the aim of providing solutions and satisfaction for your customers. The solutions offered must not new, you can develop of a business that was born before your business.
Explain how your business works and why your business can be the solution to your customers.

Who is your customers?

As long as there are customers for the products or services of your business, it means your business can be run. But, do you know the specifics about your customers? Explain in detail about your customers ranging from age, place, nature, environment etc.

How do you market your product or service?

Investors are very interested if your business could double the benefit quickly. Therefore you need to market your products or services properly so that gaining a lot of consumers.
Describe what’s your marketing strategy, whether by advertising through various media, making the reseller system, MLM or you have something new on marketing techniques.
Who is your competitors?

In addition to customers, competitors also showed that the business you will run has market. Competitors will show what advantages and disadvantages of your business compared to them.

Find out who your competitors are, what strengths and weaknesses they have, how they develop their business and how they market their products or services.

What is your advantages compared to your competitors?

You have to know who your competitors is and how they run their business. Next you need to compare your business with a competitor. What is the advantages of your business? Whether your products is cheaper or you have a special service for your customers? Describe in detail and realistic about your strengths and minimize disadvantage you have.

Why are you the one right person to run the business?

Investors will not trust people who have little experience in running a business. Investors need someone who is experienced, knowledgeable and understand the industry field.

Tell them your thoughts, what you've been through, what problems have you accomplish in developing business. Tell also about your team, experience, their knowledge and how they work.

How timeline of your business?

Your business will not run at the same time then make money. Your business is going through some phase such as research, production, introduction and development. Explain the time you will spend start from research to development.

Calculate and create a timeline of your business as possible and accountable. You also need to prepare a backup time if there were a process that takes more than you have set.

What will you do with the investors money?

The issue of money is very sensitive, so you need to make the details very clearly. Investors want to know, how you use the money and for what purposes. How much money will you use for each process which would you pass up your business benefit.

Explain clearly the investor money that you will use. Make sure you calculate it properly so that you only need a minimum of funds for maximum results.

What is your exit strategy?

Actually you don’t need to think about it, you only need to focus on research and development. But investors want to know what is your exit strategy if your business isn’t according to plan. How do you make your company will remain in a profitable condition or at least in a safe condition.

Calculate and row the good values of your company, so you know how much your company value when you leave.

Do you able to answer some questions above clearly? All questions will show how ready you are running your startup company. Investors will know where the location of your strengths and weaknesses is. You will also know what your shortcomings is, if some investors aren’t ready to provide funding for your startup.