Markets are complex, so it’s best to be as specific as possible in choosing what market you will address.
You don’t have to be formal about it or even know the correct buzzwords.
People tend to have a difficult time starting a business plan or even a pitch because the ideas rattling around in their gray matter are just not cohesive.
Throw in the desire to get the business off the ground or fund it and most people just give up.
Before getting started on your business narrative, you need to brainstorm or free write. Write them all down on a piece of butcher paper or record it.
Doing this allows your brain to get geared toward creating a good narrative. Now that your brain is primed, it’s time to start structuring those thoughts into a narrative.
So, before you move on, do one of the following exercises: Exercise #1: Free write for 15 minutes, without stopping, about your new business idea. Take another 5 minutes to circle or underline the main themes, words, sentences from the exercises about.
These themes will be used to answer and expand upon the questions below. Use action words or phrases that are easily understandable.
The best way to think about this is to describe your ideal customer.
Ideal customers may not exist but they are a great way to focus your products and services to customers that come close.