Got a new business idea? Do this before you do (literally) anything else…

Before you even think about searching for a domain name — do this:

  • Your idea in one sentence
  • Why you think it’s really important
  • Problems you have identified
  • Solutions that your idea creates
  • Market opportunities (Is it a growing market? Where are the gaps?)
  • Total addressable market (TAM) (How many people do you think your idea could be relevant to?
  • Costs to set it up and keep it running (Industry CPA, marketing costs, set-up costs: are the margins there? What does a 3 year annual forecast look like?)
  • Define the product/service/thing you’re selling — what are your USPs?
  • Competitor analysis

A business plan will trip you up when and where you need it most, before you get in too deep

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I write about designing spaces and experiences for your mind, entrepreneurship, brain health and performance (and occassionally other things!…)

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Heidi Marshman

Heidi Marshman

I write about designing spaces and experiences for your mind, entrepreneurship, brain health and performance (and occassionally other things!…)

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