Chapter 19. Ten Questions to Ask Before You Finish Your Business Plan

In This Chapter

  • Reviewing you business plan one last time

  • Fine-tuning your business plan to make it more effective

By the time you're ready to dot the last i and cross that last t of your written business plan, chances are you're more than ready to be done with it. But before you sign off, we strongly recommend reviewing the plan one last time. If you have the luxury to let your plan sit for a week before reading it through, even better. That extra time will allow you to assess your plan with fresh eyes. In our experience, some of the most important refinements are made to a business plan during the final review process. Consider this list of ten questions to ask about your plan.

Does the Plan Realistically Assess Your Business Idea?

We're all for enthusiasm, especially when it gives you the motivation and inspiration you need for the hard work of putting a business together. But we've learned from hard experience that a clear-eyed assessment of the strengths and weaknesses of a new enterprise is crucial to success.

Identifying weaknesses doesn't mean you have to scrap your idea. In fact, it can help you develop a strategy that plays on your strengths and minimizes your weaknesses. Read over your plan, taking the point of view of a very skeptical investor. Does it offer a convincing argument that your business idea will succeed?

Does the Plan Adequately Describe Your Customers and What They Want?

If there is one thing ...

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