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