Business Idea;8 Questions You Must Ask Your Self
BUSINESS CONCEPT
In very clear and summarized terms, what does your business?
2. – VALUE PROPOSAL
What are the characteristics of the product or service? What is the contribution that your service or product provides the customer?
3. – BUSINESS MODEL
What steps does your business follow from elaboration or achievement of a product or service until delivery to the end customer?
4. – COMPETITIVE ADVANTAGES
Who makes up your competition? What advantages your business has over other businesses Similar? What skills does your business have and team that ensures your success and triumph in the market?
What protects you from other competitors imitating your business or get ahead of you by copying your idea?
5. -SOURCES OF INCOME
How does your business create value or simply how you are going to generate profits with operation of your business? What are your different sources of income ?. How much money believe you can generate your business in 3 – 5 years?
6. – CUSTOMERS AND MARKET
What is your target market? What potential does this market have (how much money is sold in this market per year, for example)? Which are your target customers? Quantify them.
How do you plan to let these customers know your product?
7. – FINANCING
How much money do you need to get your idea come true? How Much Venture Capital? How much in loans or others?
8. – WORK TEAM
Who makes up your work team? Which Is it your professional and experience profile?
An undeveloped Business Idea will not worth nothing, however bright it is. Normally if we count the stages of development that we have raised, less month, it would be highly unlikely and hardly realistic. For him development of a product or a process, the Business Idea is only ready for be financed when it is sufficient concrete to be carried out in a foreseeable future. Investors call at this stage the “seed phase of the idea”; it is normally financed with “soft money”, in other words, with non-demanding funds excessive or may endanger the project success.
