Venture Planning Associates. Used by permission.
Questions to Answer Before
Starting Your Venture
Is your venture based on a true marketplace need, not an idea from your
family and friends? Do people really want this or do you think they need it?
Want wins over need.
What do you really know about the
(Not just opinions, but real facts.)
What is happening in the marketplace to
fill this need?
What is in the pipeline of development?
What specific evidence do you have that the need really exists?
How long will the 'window of opportunity' be open? Based on what
Are there follow-on opportunities to allow a growing business and multiple
List all other customer needs and related backup data for
Who specifically are your
and how many of them currently exist?
Missionary marketing is not recommended. Creating a solution where no
problem exists is a formula for failure!
How will you get information to those customers?
directly or indirectly to your customers?
Will you be selling to businesses, end users or resellers?
talked to potential customers about their needs and how to best
What are your observations and is there a universal theme or solution?
Identify each major
group and identify four key traits.
Describe the market distribution channels you will use and how you can best
Will you have
direct contact with your customers?
What is your best estimate of total market size versus the number of
customers you can reach?
How many can you get in the first year? Based on what