As you brainstorm you will want to think laterally, coming up with a myriad of different and creative ways to implement the strategies in your plan.
For example, if the operations section of your business plan says that you will deliver excellent customer service, one solution on your list may be to provide an online support forum includes relevant information and video clips.
As long as it stays is in your mind and not in the world, your business will stay a dream. I hope that this post provides some practical steps you can perform and smash through. We want to check that you are not the only person that that loves this opportunity. While a business is just an idea in your head it is in the riskiest state it will ever be in. Build something that customers can interact with to start validating your assumptions.
Breaking it down into stages makes this process less painful. As time goes by, the stages get more complex and take longer to complete, but this first stage can be done fast. Nothing is proven and every detail could be a reason it will fail. Right now we are just going to validate the unique value proposition off your lean canvas. The experiment begins with the simple hypothesis that the value proposition is something that customers would agree is valuable.
For example, you may decide that you can afford to spend $6000 a month on operational expenses and $1000 a month on marketing and sales.
You are now ready to create a simple spreadsheet that includes time and cost estimates for each item on your list.
These are all a waste of time until you have tried your idea against a real customer. Tell you friends that you are going to do it and that you may be calling on them for feedback. Does the relationship between what you have written in each cell make sense? Most business ideas can be tested in this way, they just need lots of manual work behind the scenes to give the illusion of the amazing product you are imagining.
You don’t need external capital yet, you don’t need a cofounder. It’s like giving up smoking: A bit of peer pressure will go a long way. The full business could never work this way because it wouldn’t scale. For this startup, I am going to use three tools so I don’t need to do any coding. Strikingly makes it very simple to make a gorgeous website in minutes that works on mobile and big screen.
Also, this form of advertising may not deliver the best value for your money, even if you can afford it.
There are two questions to consider as you evaluate your options: To answer these questions, start by assigning a budget to each component of your business plan.