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This is where you’ll want to put your research cap on and start uncovering some numbers that help your reader better understand: What recent emerging trends have you developed your product/service in response to?Are there any new technologies that have emerged recently that make your product/solution possible?
As is the case with most big projects, crafting a business plan is one of those things that takes an incredible amount of diligence and no shortage of courage.
After all, your business idea is probably more than just some passionless money-making ploy — it’s your dream that you’re getting ready to lay bare for the world to scrutinize! If you approach this with a firm understanding of what key information to include in each section of your business plan and know how each section works together to form a cohesive, compelling, and — above all — persuasive whole, it will make the writing process a whole lot less daunting.
Outline the next objectives or milestones that you hope to meet and what it means for the growth of your company.
What is the scope or “big picture vision” of the business you are trying to build?
You’re going to want to supplement your own expertise with plenty of evidence in the form of market statistics and research to show readers that you’re not only an expert when it comes to your product, but your industry as well.
Your goal here is to help illustrate: Indicating to your readers that your problem addresses a big enough market will play a huge role in how excited they’ll be about getting involved in helping your company.
You do this by presenting a concise, 1-sentence outline of the following information: A “big idea” statement that introduces why your company exists, what it does for your customers, and why it matters.
A brief description of your company’s products or services, with a special emphasis on what makes them unique.
The goal here is less about describing how your product or service actually works (you’ll get to that in the “How It Works” section later) than it is about communicating how your solution connects back directly to the problem that you just described.
Key questions to consider: While your problem and solution statements help set the stage and provide readers with insight into why you’re starting this company in the first place, clearly defining your market will allow you to call attention to the trends and industry conditions that demonstrate why now is the time for your company to succeed.