November 23, 2009

A point about business plans

The market analysis portion of your business plan is critical as it provides an analysis of data supporting the market demand for your product or service.  It answers:  

Who will buy your service or product? 
What do your customers have in common with each other? 
Where do your customers live and how much will they spend? 

But sometimes business plans are too long on the market analysis and too short on a clear description of the business model and its execution; details explaining how the business works, how it's managed, and how it produces cash.

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