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34 questions before you launch your business

Apr 2, 2019

  1. Have you determined how and why you are in a position to compete in the market?
  2. Have you analysed price points to ensure that you are price competitive in the marketplace?
  3. Have you analysed the size of your market to verify that the market is big enough to support your revenue objectives?
  4. Have you conducted your market validation exercise?
  5. Have you defined your value proposition, product structure and your customers?
  6. Have you tested your sales and marketing plan to verify that you can reach and attract customers in a cost-effective manner?
  7. Is your intellectual property protected from any pre-existing threats or future claims?
  8. Have you secured any needed patents, copyrights and trademarks?
  9. Have you outlined your break event benchmarks?
  10. Do you have a business model that shows how you create profitability and is the business model scalable?
  11. Do you have a financial model that shows the capital requirements, use of proceeds and profitability of your business?
  12. Have you identified likely sources of funding to launch and grow your business?
  13. Have you secured sufficient funding?
  14. Have you identified and clearly expressed the capabilities of your team?
  15. Have you identified the roles and responsibilities required to operate the business?
  16. Have you determined how to stand out amongst the competition?
  17. Do you have a well-defined sales and marketing plan?
  18. Is your branding fully developed?
  19. Have you reserved your domain name?
  20. Have you built your website?
  21. Do you have vendors identified and secured?
  22. Are you clear of your niche/ideal client?
  23. Do you have a clearly defined sales pitch?
  24. Do you have a clearly defined sales benchmarks?
  25. Do you have a sales incentive program for sales team?
  26. Do you have a well-defined sales funnel and back-end?
  27. Do you have a system to create and analyse your sales reports?
  28. Do you have a social media marketing plan?
  29. Do you know where to reach your ideal customers online and offline?
  30. Do you have free resources for your online prospects?
  31. Are there analytical tools in place for analysis to determine marketing results?
  32. Do you have your sales infrastructure in place, such as a merchant accounts, shopping cart, etc?
  33. Do you have a customer relationship management system to track your sales funnel?
  34. Are you keeping tab of your financials? Do you have a system to keep track of your financial performance?