19 Questions to Supercharge Your Business Plan

Whether you are seeking capital for your company or are optimizing your business strategy, the most important element - particularly for outside investors - may be your written business plan. You can tune-up and supercharge your plan using this 19-step checklist. When your written plan firmly answers yes to each of these 19 questions, your market/product strategy is in terrific shape plus you increase the odds of attracting investment capital.

If you don't already have a written business plan - write one! Your business plan is a blueprint for your whole company. It describes in detail your goals, the financial and technical viability of your goals, and the strategy you will use (or are using) to reach those goals. And your business plan is a working tool - it is a yardstick to measure your progress and a compass to keep you on course.

Must a business plan be written?

Yes! A plan which is not written usually has not been thought through fully. And despite what you may have read, it is doubtful that any business ever attracted capital on the back of a napkin.

Use this checklist as a way to identify where your strategy, as spelled out in your business plan, needs work. Each of the questions below highlights an area considered critical to technology investors.

1. Can the key ideas behind your product or service be stated in one or two sentences? (y/n)

2. Does your company have at least one unique and compelling competitive advantage, which cannot quickly or easily be duplicated? (y/n) Examples are a special feature, a cost advantage, a technical refinement, a new delivery system or a special supplier.

3. Is your competitive advantage proprietary? (y/n) That is, can it be copyrighted, patented, trademarked or otherwise protected? Can you keep it exclusive to you?

4. Is your industry segment growing by 25% or more? (y/n) If not, can your new product dominate its segment? If the answer is no, you probably won't be able to generate the kind of financial returns investors look for.

5. Does your product or service create a new market? (y/n) Although generally positive, this could be a trap - in a brand new market, the potential can be slow to develop. Lotus Notes created a new category but took years to create value for investors.

6. Is your market in "early momentum" - the market growth phase where market revenues have recently taken off? (y/n) Venture investors prefer markets in this stage because the time-to-create-value is shorter and the growth potential still large.

7. Is your target market segment 1) tightly defined over a population sharing common characteristics, 2) large enough to support significant profits, 3) served by communications channels to reach that market - i.e., trade or special interest publications, response mailing lists? (y/n)

8. Is your company filling a gap in the market, or do you have a "gee-whiz" product which you think is so terrific that customers will surely want to buy it? (y/n)

9. The benefit of your product or service to users is 1) significant, 2) quantifiable and 3) cost-justified? (y/n). If you provide a benefit which is important, and you can prove it - there is a much higher probability of generating sales.

10. Is there a demonstrated market for your product? (y/n) If you have an existing product, is your customer base expanding? Investors would rather fund sales and production than product development.

11. Is there wide appeal for your product or service? (y/n) Are there enough potential customers in the target market that you can earn significant profits, for a long time? Are there follow-on products to sustain revenue and profit growth?

12. Does your company have the ability to sell your product? (y/n) Particularly in companies where the founders have technical backgrounds, a question to ask is "Who is going to sell your product or service?" What about outside distributors?

13. Is there an experienced management team? (y/n) Investors would rather fund a solid team instead of one lone genius with a great idea. The team should be highly qualified in marketing, sales, finance, and the product/service area itself. Of course, a demonstrable track record helps.

14. Can you demonstrate a likely return of 5-15 times investors' capital, over a period ranging from three to seven years? (y/n) The actual parameters used by venture investors will vary based on which stage you are in (idea, startup, development, expansion, turnaround).

15. Is there a clear exit strategy for investors? (y/n) The most common strategies for returning investors' capital are 1) going public; 2) acquisition of your company; 3) new investors; 4) founder's buyback or management buyout.

16. Have other investors already put money into the company, particularly the senior management team? (y/n) This reduces the apparent risk, reduces overall exposure, and shows that management "has its money where its mouth is."

17. Have you clearly defined a structure for the investment you seeking? (y/n) The structure should include: who is involved, how much capital is needed, what minimum investment you will accept, how much equity that will buy - and, of course, the projected return on investment.

18. Are your financial projections realistic? (y/n) Have you soundly justified your projected growth rates and other financial assumptions?

19. Have you clearly examined the risks? (y/n) Investors like to know that you have considered the risks. This is key - can you turn your risks into opportunities?

Too many no's? Remember, each "no" opens up an area for you to strengthen your business. Even if you aren't seeking capital, each question highlights a critical success factor - which, when mastered, will increase your profits, your performance, and your future success.


In order to help you discover hidden value and opportunities in your existing business, and to make it easier to spot potential problems while you are just starting out, I've created the discover hidden value business building guide. A remarkable aid to accelerating the growth and profitability of your business, this program of insight-provoking questions and checklists enables you to rapidly diagnose, troubleshoot and optimize every part of your business, from marketing to sales, customer service to product development and finance to production.

? Paul Lemberg. All rights reserved

Paul Lemberg's clients call him "the unreasonable business coach" because he insists they pursue goals and take actions far outside their comfort zone to make more money than they previously thought possible. To get discover hidden value business building guide tips, tools and strategies like these, visit discover hidden value business building guide

Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’Hare
In The News:

A newly discovered security flaw with your iPhone or iPad could leave your personal information vulnerable to hackers. Kurt the CyberGuy explains.
Modeled after a traditional bell-shaped skirt worn by women in Kosovo, a theater's roof is draped entirely by solar panels to generate renewable energy on-site.
Kurt the CyberGuy explains how to protect yourself from malicious Chrome extensions that can steal sensitive information like password managers, crypto wallets and banking apps.
Stellantis' innovative STLA AutoDrive 1.0 system allows drivers to safely take their eyes off the road and their hands off the steering wheel.
Here are some travel hacks to save money on your next vacation including setting up price alerts, remaining flexible and checking for 24-hour price drops.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
One report claims at least 25 million people were targeted by infostealer malware between the beginning of 2023 and the end of 2024, capturing bank card details and passwords.
The LaserWeeder G2 uses lasers, artificial intelligence and advanced robotics to offer an alternative to chemicals traditionally used in farming.
Tech expert Kurt “CyberGuy" Knutsson says a malware app called SpyLend is posing as a financial tool, hitting 100,000-plus downloads.
Tech expert Kurt “CyberGuy" Knutsson says Clone Robotics’ Protoclone mimics humans with 1,000 muscles – too human for comfort.
Tech expert Kurt “CyberGuy" Knutsson urges you to use Apple’s App Privacy Report to see what your apps are really up to.
Tech expert Kurt “CyberGuy" Knutsson talks about how to smoothly transfer your data from an old laptop to a new one using cloud storage or external drives.
Kurt the CyberGuy offers tips to safeguard your personal information as scammers become more sophisticated with scam texts and other methods.
WeRide's unmanned electric delivery van, the Robovan W5, has 194 cubic feet of cargo space and can carry payloads up to about 2,205 pounds
Kurt the CyberGuy recommends deleting 16 browser extensions immediately in response to a report saying more than 3.2 million web users were affected by a security breach.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
A robotics firm in China claims a robot has performed the world's first humanoid robot front flip, which is significantly more difficult than a backflip.
A digital ID may be even more secure than a physical ID. Storing your driver's license in your Apple Wallet is an ideal solution for commuters.
A cybersecurity firm has shed some light on just how common tax scams have become. Kurt the CyberGuy offers his advice for how to protect your refund.
Lifesize Plans offers immersive walk-throughs that allow customers the opportunity to tour a home's design before construction actually begins.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
A man invested $4 million in bitcoin and lost it all with a single click when he was targeted by a vishing scam, which uses phone calls to trick people.
Expandable's Touchdown is a designer trailer that promises a luxury off-grid living experience and unfolds into a home in about 15 minutes.
Major employee screening company data breach affects 3.3 million people. Tech expert Kurt “CyberGuy" Knutsson explains what happened and gives five ways to protect your data.
Kurt “CyberGuy" Knutsson reveals mind-blowing tech that gives you sunlight on demand.

6 Steps To Laying Out Your Competitive Strategy

Why do so many companies languish and watch as their... Read More

The Power of Planning

I am surprised how few sales professionals, independent consultants, and... Read More

Online Promotion: 10 Ways To Use Focus Groups To Ignite Your Profits

A focus group is a group of employees or current... Read More

ERP Role in Selling Your Mid-size Business ? Microsoft Great Plains and CRM Example

If you own the mid-size business and actively work in... Read More

Mobile Franchise Business Expansion Strategy

If you own a mobile franchise business and wish to... Read More

Communication Strategy During A Time Of Strategic Planning

"Rubbish!" shouted the large, aggressive man in the red-striped shirt... Read More

Call in the SWOT Team: Produce More Opportunities to Expand Your Business

Have you ever done a SWOT analysis? No, it's not... Read More

Breaking the Growth Barriers in the Information Technology and Software Sector

There's nothing automatic about corporate growth, particularly in the information... Read More

Three Steps to Give Your Strategic Plan Traction

We all agree Strategic Planning is a critical part of... Read More

Why Six Sigma Will Work in Healthcare

If ever there were an industry where we want zero... Read More

Thinking Like A Farmer

One of the difficulties we face in our industrialized age... Read More

The Best Entity to Hold Real Estate

Possibly THE most frequently asked question of me is "What... Read More

Executive Summary for Business Plans of Franchisees

Writing a business plan for a franchised outlet of a... Read More

Invalid Excuses for Poor Business Results - The Economy

Note to Rite Aid and CVS: It's not about the... Read More

Succession Planning: Problems Getting Started

A survey released by the American Institute of Certified Public... Read More

Parking Business, the Details on Increasing Lot Revenue

If you are in the parking business and own or... Read More

Do You Really Need a Business Plan?

"I don't need a business plan."Neither did Alice in Wonderland."Would... Read More

Business Plan Long Term Goals

Writing a business plan is not an easy endeavor, nor... Read More

6 Changes You Can Make to Increase Business Profits

I read once that something like 30 percent of all... Read More

Under Construction During the Storm ? A Hurricane Guide for Businesses that are Under Construction

As a business owner, you've likely created a hurricane plan... Read More

What is a Shared Vision?

So what makes a vision successful? Everyday companies try to... Read More

Scheduling of Additional Auto Detailing or Mobile Car Wash Units

If you own a mobile car wash business or auto... Read More

Benefiting from Strategic Thinking

I recently took an organizational behavior class where my professor... Read More

Action Planning

ACTION PLANNING: Action Planning is a process to develop strategies... Read More

Sample Business Plan Outline

If you are looking for a partner, funding, angle investor... Read More

Downers Grove limo Chicago ..