Below is a simple outline for a business launch. It’s the rough structure of a more comprehensive planning process and will give you quick insights into the new venture you may be considering…
What is the opportunity?
– Not a hunch but a clearly analyzed and defined opportunity with hard facts to support why there is a need for your product or service
– How big is it financially?
– What is your value proposition? (Contact me and I can explain) Can you explain it to me in 30 seconds? Why are you unique? Is your solution compelling? Why not another solution?
– Who is your buyer? Consumer of your product? Why? – Where are they? How do they buy now?
– What is your pricing strategy?
– Is this a one product wonder or are there multiple uses/expanding product-line?
How do I capitalize on it?
– How am I going to quickly capture the opportunity?
– What “net” or business model optimizes your profit? Prove it with hard facts?
What resources do I need?
– How can I gain control over them? Assets: technical/managerial expertise, strategic partner, patents, suppliers, inventory
– Capital/Funding – Boot-strap working capital, friends and family, angels, crowd-funding etc.
– What is your exact use of proceeds when you received your funding? How will you payback your investors?
What structure/strategy is best to capture my opportunity?
– What is your Go-To-Market Strategy?
– What is my optimum business model to capture and scale for growth? Why? Website? Direct- sales? Channels? Franchise?