By Dieter Abt at October 26 2018 11:31:56
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.
Industry Analysis - How does your product or service compare with what is currently on the market? What is the trend in the overall industry? What have been the total sales in this industry over the previous 3 to 5 years? What new products or technologies have had the biggest impact on this industry recently? What is the future outlook for these and what trends are emerging? Who are the competitors, where are they located, and how are they doing? What advantage do you offer over them? Who is buying this product or service now? Describe the typical customer for this product or service.
However, the best business plan template is that which meets all your business needs and requirements by offering you a high level of customization and a professional layout of all the content that you would like to include.
Small business consultants are very much on top of their game. They compile industry reports relating to the business, conduct feasibility studies, as well as studies relating to potential customers.