- Your business plan needs to spell out…the major customer and market trends…that you're going to face.…And more importantly, how you're going to react…to those trends.…What are the major trends,…do they help you, or do they hurt you?…Is the market growing, is it flat, is it shrinking?…Is the market fragmented, or is it consolidated?…And how are people behaving in that market,…are you seeing acquisitions, are you seeing divestitures?…Who makes the buying decisions…from a customer's stand point?…And are those patterns changing at all?…Think through what other products and services…do your customers want and need,…are there emerging trends where customers…are asking for new things?…Some of the sources for this information…are things like market research,…conducting focus groups,…doing some competitive analysis.…
For my business, as an example,…I run a training firm,…and during recessions one of the first things…that gets cut from the budget is training,…and that trend hurts us.…The actions that we can take when we know…
Author
Released
9/17/2015- Define the problem your business solves.
- Determine a product and revenue model.
- Build a go-to market strategy.
- Describe the components of a product development roadmap.
- Explain how to brand and market a product.
- List criteria for choosing suppliers.
- Identify common pitfalls of business plans.
Skill Level Intermediate
Duration
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Introduction
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Welcome1m 11s
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1. Defining Your Business
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Sizing the market1m 55s
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2. Understanding Your Market
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How you rank vs. competitors2m 48s
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3. Defining Your Product
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Protecting your market2m 41s
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Developing your product2m 23s
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Delivering your product2m 4s
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4. Selling Your Product
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Pricing your product2m 36s
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Selling your product2m 20s
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Supporting your product2m 11s
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5. Running Your Operations
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Managing production2m 3s
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Managing suppliers2m 20s
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6. Managing Your Business
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Leading the organization1m 52s
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Getting advisors2m 2s
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Compensating leadership2m 13s
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Administration1m 20s
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7. Projecting Your Financials
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Financial assumptions1m 47s
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Financial forecasts2m 20s
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Capital requirements2m 27s
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Financial risks1m 50s
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Exiting your business1m 53s
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Conclusion
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Business plan pitfalls1m 54s
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Next steps1m 18s
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Video: Understanding customers and trends