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By Lukas Baecker at February 16 2019 18:05:55

But your idea may be so new that you may also need to talk to potential customers, host some focus groups, talk to an ad agency, or maybe even make a prototype and float it past some people. Be prepared to spend the time. Remember, it's not about the Plan but the Planning.

You can find a variety of companies online to help you with your market research. For example: Sundale Research's (sundaleresearch.com) primary goal is to provide new and mature businesses with objective, accurate industry data and market analysis on a wide range of topics. Their market research is intended to save you time and money while keeping up with industry trends.

"Plans are useless; planning is indispensable," according to Dwight D. Eisenhower, then Commander of the Allied Forces in Europe during WWII. Now, you may be in total agreement with the first part of that statement, but you are really not convinced of the truth of the second part.

Organization - How is the business structured? Who are the principals and the principal shareholders? What authority does each principal have in the venture? What are management's qualifications? What is the job description for each position? What does the organizational chart look like? Possible Data Sources: on-line templates for job descriptions & organizational chart.

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