Nice approach. Before you start anything research is needed because you have to do know who your competitors are. But you have to just start it. This is how you learn and get feedback. It's also easier to approach investors if you have something up and running with some results. It can just be a beta version but to be able to show some actaul interest goes along way.
Also I have had some experience with investors and they have never wanted a business plan. I have actually been thanked for sending them my 2 page executive summary. Focus on writing that and then down the line develop the business plan once you have feedback and a clearer direction of where your going.
KevenDones
· 11 months ago
This is great advice. Understanding the market is one of my biggest challenges as an Entrepreneur. As I work on my marketing plan I start learning a lot about the people who will use Labortopia and the challenges that await me. Learning how people will use the tools that we are building for small business in local communities. For example people like plumbers that need to run their day to day business and cannot spend their valuable time looking at our site for new sales leads. So by building tools that also work off site and will bring the provider back to Labortopia, that's what makes us different from our competition. These are the challenges that will keep me working days and nights.
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Also I have had some experience with investors and they have never wanted a business plan. I have actually been thanked for sending them my 2 page executive summary. Focus on writing that and then down the line develop the business plan once you have feedback and a clearer direction of where your going.