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It might sound obvious, but this is something you want to think about carefully. It’s a common mistake to assume everyone will be interested in your product or service, so you need to know who your target market will be. Ask yourself these questions to get started:
- Who will want your product or service?
- Roughly how many people fall into this category?
- How might you reach them?
- How will they want to pay?
- Why should they pick your business instead of a competitor?
A solid business plan is a key part of starting a business. Set out what you want to achieve and how you’re planning to achieve it. Writing your business plan will help ensure you’ve thought through every aspect of running a business and can also help you identify any potential weak points.
Once it’s time to launch, a business plan with financial projections can help you get funding from a lenderor investor. It will also give you a framework to run your business by outlining …
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