Investors want to know you have product-market fit, a solid team in place, and scalability—which is the ability to grow sales volume without proportional growth in headcount and fixed costs.Before you leave a nine-to-five income, your business plan can tell you if you’re ready.This is often referred to as a competitor analysis table.
Landscapers Inc.’s ideal customer is a wealthy baby boomer or a member of Gen X between the ages of 35 and 65 with a high disposable income. They’re a working professional or recently retired.
In love with the outdoors, they want to enjoy the beauty and serenity of nature their own backyard—but don’t have the time or skill to do it for themselves.
Nor will they have a profitable impact on your business.
Landscape Inc.’s mission is to change the face of our city through sustainable landscaping and help you create the outdoor living space of your dreams.
A business plan is a comprehensive roadmap for your small business’ growth and development.
It communicates who you are, what you plan to do, and how you plan to do it. But, bear in mind, a business idea is will not invest in a startup or small business without a solid, written plan.
Next, create a table or spreadsheet listing your competitors to include in your plan.
Your business should be listed last, on the right which is standard practice.
Competitive research begins with identifying other companies that currently sell in the market you’re looking to enter.
The idea of carving out enough time to learn about every potential competitor you have may sound overwhelming, but it can be extremely useful.