A1. Research

DIRECTIONS: You have narrowed down your ideas for your business and selected one idea to pursue- awesome!

Now, lets research.

No smart businessperson jumps into their venture blind. Typically, they spend hundreds of hours searching the internet; talking to friends, family, and fellow business people; learning about potential competitors; and prototyping the product or service they want to sell. The more informed the businessperson is, the better the chance for success.

Review the directions and examples for each page of the business plan you will write, becoming familiar with the requirements for that particular step. Then, do research and find out the answers you need!

Where will you find the answers? We expect that you will
  • Research on the internet
  • Talk to friends and family
  • Speak to an entrepreneur
  • Consult with each other
How you choose to keep notes about your research is your choice- but we suggest a Google Doc or Writeboard.

As you dig in to your research, consult often with your instructor- they will give you tips and make sure you stay on the right track! When you feel you are finished, you are REQUIRED to meet with your instructor for sign off on your materials before you begin to write your business plan!