By Joanne Eglash
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Extra resources for How to Write A .com Business Plan: The Internet Entrepreneur's Guide to Everything You Need to Know About Business Plans and Financing Options Writing & Journalism
Questions answered in this section should be: • How will you use your funds? • At what rate can they be repaid? • What profit can investors hope to make? Tip: This area is one in which you may want to hire an expert. Be honest with yourself. If crunching numbers and analyzing forecasts is not your bailiwick, it will be worth your investment to seek a consultant's services. com, I would seek references from others in my area and hire a financial whiz who could help build that foundation under my castle-in-the-air dot-com dreams.
The age range, gender, and level of technical knowledge clearly would differ considerably, and you would need to describe a profile customer for each market in your business plan. Name That Game Make sure that you can clearly define the industry in which you are involved, as specifically as possible. com plans to offer fitness and nutrition information online, it is essential to define just who that audience would be. If I based my entire market analysis and customer profiles on all individuals, cited statistics for all people in general, and developed financial projections on this model, I would significantly overestimate the Turnip Chips market and probably spend more on the initial outlay than was warranted.
Page 58 "Duh, that's obvious," you might be thinking. Maybe. But a very common mistake is to assume that it is sufficient to dump information such as market projections into this section of your plan. Wrong. As you write the market and customer section, focus on the implications of those statistics for your product or service. For example: • Do your statistics fully apply to your customers? com will be successful. That wouldn't be enough. I would also need to show that female adolescents are spending more time online, since my product and service are offered on a Web site.