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Business Plan: What Should I Do?

Here are 30 important questions to consider when determining if your business idea is worth pursuing:

  1. Will you personally use your product?
  2. Can you find 10 or more people who are willing to pay for it now?
  3. What do you love to do? How different is it from your idea?
  4. How painful is the problem you intend to solve?
  5. Is your target market big enough to create a real business out of it?
  6. What is your revenue model, and how realistic is it?
  7. How well can the founders execute the plan?
  8. Can the founders identify what needs to be done beyond the obvious?
  9. How does the customer currently address the problem?
  10. What are the recent trends that make your solution feasible?
  11. What is the simplest version of this idea?
  12. How quickly can you take the idea to market?
  13. How soon can you build your prototype?
  14. What makes your product different from others?
  15. How much money is needed to build your first prototype?
  16. Customers prefer simple products. Can you explain yours in one sentence?
  17. Do you have any competitive advantages?
  18. Are you passionate enough about the idea to dedicate 1-2 years entirely to your business?
  19. How easily can you access 2-3 high-profile individuals who can advise you on succeeding in your target market?
  20. Can you convince 1-2 great people to work with you now?
  21. How soon can you scale your business?
  22. How will your product make the world a better place?
  23. In what way is your idea creative, innovative, and unique?
  24. What opportunities and risks do you face?
  25. What is the status of patents related to your product?
  26. What long-term goals have you set?
  27. How is the industry developing, and is the market growing?
  28. What are the key success factors for your business?
  29. Why should someone invest in your idea?
  30. How will your business survive and grow over the next five years?
  31. What problem are you truly solving, and is it a “must-solve” issue for your customers?
  32. How will you measure success in the first six months? One year?
  33. What is the cost of acquiring your first 100 customers?
  34. How will you retain those customers after the initial purchase?
  35. What key partnerships can you establish to strengthen your business?
  36. What is your marketing and sales strategy?
  37. How will you differentiate yourself if competitors quickly copy your idea?
  38. What is your fallback plan if your initial product or service doesn’t succeed?
  39. How will you generate consistent revenue over time?
  40. What is your strategy for building customer loyalty?
  41. What is your contingency plan for handling unexpected obstacles (e.g., economic downturn, regulatory changes)?
  42. Are there any ethical considerations associated with your product or service?
  43. How do you plan to adapt and evolve as technology changes?
  44. What legal structures or business registrations will be required?
  45. How will you ensure product or service quality while scaling?
  46. What are your fixed and variable costs, and how will you manage them?
  47. How can you turn your early customers into evangelists for your brand?
  48. How will you gather and act on customer feedback?
  49. What is your company’s mission and how does it align with your long-term vision?
  50. How will you protect your intellectual property (IP)?
  51. Do you have a roadmap for expanding into new markets or adding new products?
  52. How will you maintain work-life balance while building your business?
  53. How will you adapt your business model if customer needs or market conditions change?
  54. What is your strategy for financing future growth?
  55. Can your product/service be easily scaled internationally? What challenges might you face?
  56. What is your exit strategy if the business succeeds? (e.g., IPO, acquisition)
  57. How will you handle negative customer feedback or a product failure?
  58. How will you test your product’s pricing to ensure it’s sustainable and competitive?
  59. Are there any seasonal or cyclical factors that could impact your business?
  60. How will you ensure that your business practices are sustainable and environmentally friendly?

These questions help address a broad range of concerns—from customer acquisition and scaling to risk management and sustainability. This will give you a more comprehensive understanding of your business’s potential.

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