Business plan
In the business plan section, you will discuss in detail two very important areas - your potential customers and your product/service.
Allow enough time for this exercise, because it is really important.
As we noted in the Starter, "know your customers like yourself."
The first of the areas are customer segments . Think about who can buy or use your product? Try to describe your customer as specifically as possible. Is your product intended for a narrow group of customers or will it appeal to different groups of customers?
Your product/service will only be sold if it fulfills customer needs . What problem or customer need will it solve? You pretty much legitimize anything you can think of.
Write down what can deter customers from buying your product or service under difficulties . It can be anything, focus on the details. Will it be the origin of the product, the excellent materials used, impossible availability in stock or a competitive disadvantage compared to the established competition?
What wishes can you fulfill with your product or customer service? What do they desire, but currently the market cannot fulfill their desires?
Great. Now answer important questions about your product or services.
We recommend that you consult your project with those who are not interested, or potential customers from your area with whom you know each other. It is possible that you will develop very interesting views and improvements that you cannot see yourself as the author of the project.
Every product or service must bring tangible benefits to the customer's life. Write at least three, but we recommend writing at least 5 :)
Do not forget the technological side of your product. What parameters will it achieve? Rather, its technical or utility properties. Do you already have clearly defined dimensions?
Don't forget a high-quality overview of existing alternatives that will become your competition. What is their price, how do they solve customer problems and what do they lack the most? → this is exactly what can differentiate you from the competition and bring the customer to your product.
And finally, a practical example of what a business plan would look like if we were thinking about launching the Journal on the market and using the Launcher.
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