Wondering what 10 questions to answer when writing a business plan? Well, there are no magical 10 questions that, once you answer them, you'll have all the essential information in a perfect, investor-ready document. But obviously there are some basics every business plan should include, and that's what to focus on. These obviously aren't the ONLY questions you should answer, but here are 10 questions to answer when writing a business plan:
1. What are your main products and/or services?
2. Who is your target customer? (Include demographic information.)
3. How is your industry doing? (Include the latest, most relevant statistics.)
4. What market niche will you fill?
5. Who are your competitors?
6. How will you stand out from the competition?
7. What are your qualifications to run this business? (Including education and professional experience.)
8. How much funding will you need to get started?
9. When will you break even?
10. Who else will you need to hire to run this company?
And since it's hard to keep it to 10 questions to answer when writing a business plan, here are a few bonus ones:
11. How will you market and advertise this company? (E.g., radio, TV, print, social media, etc.)
12. Will you need to rent or lease a facility? If so, how big will it be?
13. Will your company have a physical location or be online (or both)?
14. What consumer trends will you be tapping into?
Having trouble answering the 10 questions to answer when writing a business plan? MasterPlans can help. We've written top-notch business plans since 2002 and are more than equipped to flesh out a full-length business plan for you in only a few days. Call 877-453-2011 now!
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