A critical part of a successful business plan is identifying your customers and the competition. Solid business plans incorporate research on potential customers and competitors. Begin by asking the following questions, and then apply the tips on how to become a winning business:
Three Customer Questions
Who is buying?
What do they buy?
Why do they buy?
Three Competitor Questions
How big are they?
Which customers are they after?
What is their strategy?
Three Ways to Win
Cut costs to the bone
Offer something unique
Focus on one customer group
