Building A Business Plan, Worksheet 3

Hope everyone had a great weekend living the entrepreneurial dream. The third post in our series deals with an often-mishandled part of the business plan: the market analysis. Understanding what the marketplace looks like is crucial to the success of any venture, but all too often entrepreneurs fail to do the necessary homework to support their arguments that a market entry makes sense. The three leader questions we ask ourselves are:

• What is the market potential for your company’s product or service?
• Who are your competitors?
• What gives your company a competitive advantage?

As always, you can find the worksheet with these questions here, and I'm available for comments, feedback and assistance at the email address found here. If you're just tuning in, you can find Worksheet 1's post here, and Worksheet 2's post here.