Concept Paper

The third thing you should do before starting a business is write a business concept paper. This is a short, 3-4 "proposal" or statement of the idea behind the business. Some things you might include would be these: who, what, where, how, why, how, and how much.

That is:

>Who your customer will be. Who your competitors are.

>What your product is. What your customer will really be buying. What needs you are meeting. What market you are serving.

>When you envision getting your product to market.

>Where you will be in business. Where you envision finding the resources you will need.

>Why you are starting this particular business.

>How you are going to get your product to the customer. How the customer is going to find out about your product. How are you going to compete.

>How much capital you will need start and operate it. How much you will charge. How much it will cost to make your product. How you will monitize your business.

Once you have this on paper you can get down to work. Until you have something in writing you're pretty much blowing smoke.

Entrepreneurship is the life's blood of all my professional activities. It makes them go. And go read my mystery for free at wwww.kearneymusicschoolmurders.blogspot.com or buy it from Amazon.com more cheaply than you can print it out.