8/2/2021 Tip: 2 Questions Your Business Plan Must Answer

Today’s Quote

“Ambition is the germ from which all growth of nobleness proceeds.”
~ Oscar Wilde


Today’s Tip

There are many questions you must answer in your business plan.

But these 2 are the most important:

  1. Why is there a need for your business?

Mainly, you need to explain why customers need what you will be offering them. At the end of the day, it’s your customers that will dictate your success.

  1. Why will you succeed?

We all know that business ideas are a dime a dozen. What is it about your idea, about you as an entrepreneur, or about your marketing plans, team, operations, technology, partnerships, etc. that will enable you to succeed while other ventures fail.

At the end of the day, your business plan must answer these two questions clearly.

Sure, there are lots of other key points you need to make, but these two trump the rest.


Today’s Resource

The Fastest Way to Finish Your Business Plan

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Once you finish your business plan, you can:

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Today’s Question: What company was originally named Blue Ribbon Sports?

Previous Question: Where is the largest gold repository in the world? (hint: not Fort Knox!)

Previous Answer: The Federal Reserve Bank of New York. 

The Federal Reserve Bank of New York is reputedly the largest gold repository in the world and holds approximately 7,000 tons of gold bullion.


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