A question-driven, simple, concise one-page template that help you clarify your business ideas.
A brief description of the problems to be solved. (Understand the problems)
- What are the problems that you are going to solve?
- How the problems are been addressed today?
- What existing alternative solutions are?
Describe concisely how are you planning to fix the problems.
- How are you going to work out the problems differently?
- What products/service will be provided to solve the problems?
- What features/advantages that your methods have?
- What values that can your solution provide?
A summary can prove that your approach works.
- What evidence/proof could you provide? (Figures/numbers/thearies/examples...)
Explain what the target market/audience are.
- What are the target users?
- What is your target market? How big is it?
- What the trend that your target market has?
List potential competitors and alternatives that your business are facing.
- What competitors are there in the target market? Drawbacks and merits they have?
- What the alternatives that your products/service have? Their defects?
Introduce your business model.
- How are you going to provide products/service to make profits?
- What income possibilities that your business has?
List the resources you need and costs of your solution.
- What kind of resources(investment/technique/prerequisite...) do you need to start your business?
- How much does the resource cost?
Summarize the vision and long/short-term aims of your products/service.
- What kinds of vision do you have for the products/service?
- What is your business short-term goal?
- What is your business long-term goal?
Except above points, the items that you can choose to include in your plan:
- Strategy: what stategy you got to do your business?
- Motivation: what is your motivation?
- Team: what team you have to work out the problems?
- Action plan: what is your plan of running your business?
- Personal fit: how do you fit in the solution? ...
Tips to use the template.
- Keep your answers simple and concise.
- Use bullet points words/sentences to answer the questions, please. (People usually HATE complexities.)
- Provide figures/evidence/references if you can.
- Frank Q Liu - Franquil
MIT