At a point of time in your life,you always think about starting a new business that will make your living and raise your standard of living.Now before considering to set up any business following questions should be asked and try to get all the answers for it.These answers will thus forn the summary of your business plan.Briefly write your thoughts to the following questions.

• Q1 ) What is the  Product/Service?.............Description about your product.
• Q2 ) What is its unique value Proposition?....you can furthe go on saying what makes it different or better than others?
• Q 3 ) What is the market opportunity?....Position and chances of your product to do well in the market.

Under this you can also ask...What problem do you(your product) solve than other products

How large is the market ?.....So that you can decide the quantity to be manufactured and                                                                                                                           set desired targets

How fast is the market growing?....So adequate measures can be applied to meet the                                                                                                                             user's demands

Who  is the competition in the  market?...details about advantages and disadvantages                                                                                                                                       of other products

• Q 4 ) How do you make money?.....What is your revenue model?.....Your capital investment details and source of your capitals
• Q 5 ) Who is the management team?Are they qualified enough?........Are skilled labours available?
• Q 6 ) What is the strategy? give description about your long term goals and short term goals say 3,6,12 months etc
• Q 7 ) How do you sale or market your product/service? give description about your marketing technology
• Q 8 ) How much capital you need to raise your project?...give all the cost details to be incurred in setting up the project
• Q 9 ) What are the projected financials for the project/company? set the desired target to be achieved in order to sustain in                                                                                                                 market
• Q 10 ) What is preliminary evaluation for your company ?..give description about how much you are ready to sell a small percentage of your company for...

This are the most important questions that are compulsory for any firm to be answered to be successful.

• Written by nikhil mehta.
• In category Small Business.
• 15 years ago.

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